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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-03-22]
BTC Price: 418.09, BTC RSI: 52.60
Gold Price: 1248.20, Gold RSI: 55.58
Oil Price: 41.45, Oil RSI: 68.30
[Random Sample of News (last 60 days)]
First Bitcoin Capital Corp. Signs Evaluation Agreements with Emercoin International Development Group, To Develop and Market Solutions to Provide Distributed Blockchain Services For Business and Personal Use: VANCOUVER, BC / ACCESSWIRE / January, 28, 2016 /First BITCoin Capital Corp. (BITCF) announced today that it has signed an evaluation agreement with Emercoin International Development Group, a leader in solutions to provide distributed blockchain services for business and personal use. First BITCoin has signed certain evaluation agreements to promote Emercoin technology for wide spectrum of blockchain based technologies:
1. EMC/SSH- Secure shell management system needed by every site admin.
2. EMC/DNS- Uncensored domain name system, peering with OpenNIC.
3. EMC/LNX-- Decentralized pay-per-click advertising network.
4. EMC/SSL- System for password less authentication on the world wide web.
5. Info/Card- Storage for electronic business cards for use with EMCSSL.
6. EMC/TTS- Trusted storage for digital timestamps on the blockchain.
7. MAGNET - Distributed torrent tracker for internet file sharing.
8. EMC/DPO- Digital proof of ownership solution for physical or digital goods and services.
First BITCoin is also evaluating investing in Emercoin to support Emercoin's market expansion and acceptance worldwide.
Oleg Khovayko, Emercoin Lead Developer, said, "Key difference in Emercoin from other cryptocurrencies is that we are using blockchain not just for transfer credit values. We consider Emercoin as a technological platform for distributed, censorship–proof and scalable services. So we developed a suite of services running on top of the Emercoin blockchain that will be very useful for a lot of companies and even private persons."
In addition, our goal is provide stable, robust and easy to integrate services. Hence, our solutions are compatible with industry standards, proven their efficient and security.
"We are excited to have the opportunity to evaluate and possibly invest in EMERCOIN , especially due to their recent partnership with Microsoft Corporation (NASDAQ:MSFT) to deliver their blockchain services to the Azure cloud's Blockchain-as-a-Service marketplace, also known as BaaS Platform," the Company spokesperson said. "We are always looking for disrupting, new and promising technologies, and are ready to invest in those companies to help them to market their technology worldwide."
About EMERCOIN Group
EmerCoin (EMC) is a decentralized, open-source cryptocurrency created in late 2013 and based on technologies from Bitcoin, Namecoin and Peercoin. It utilizes both Proof-of-Work and Proof-of-Stake mining. Emercoin, a leading digital currency and blockchain platform has just partnered with Microsoft to become a member of the Azure marketplace. With demand growing for innovative, scalable blockchain services that are ready to implement, Emercoin is a natural fit for the Azure cloud platform. They have developed a robust suite of ready-to-use features that offer real world solutions for business and consumer use.
Emercoin will be delivering their suite of blockchain services into the Azure cloud later this year. This will give Azure cloud users the ability to install and make use of Emercoin's many services such as digital proof of ownership and identity, passwordless authentication on the internet, network security, the first distributed advertising network and many E-commerce solutions like the Emercoin secure micropayment service.
For more information please visitwww.Emercoin.com.
About First BITCoin Capital Corp.
First Bitcoin Capital Corp. is a development-stage Canadian-based mining company currently holding concessions of Gold in Venezuela and is developing technology for the crypto-currency industry. It is the first vertically-integrated consolidation company of the Bitcoin and crypto-currency marketplace.
The Company is developing the following digital assets
www.CoinQX.com- online cryptocurrency Exchange.
www.BITessentials.com- online shopping mall (in Beta testing) allowing multiple vendors to place their products ans sell for cryptocurrency. Company has partnered with GoCoin , A global leader in Blockchain payments and innovation, GoCoin was the first international platform for enabling merchants to Blockchain currency payments including Bitcoin and popular altcoins Litecoin, Dogecoin and Tether at checkout.
www.iCOINews.com - Real time crypto currency news aggregator platform.
www.BITminer.cc- Mining and equipment sales for cryptocurrency miners.
The Company currently develops other innovative projects.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "believes," "plans," "anticipates," "intends," or "expects," or similar expressions or statements regarding intent, belief of current expectations used in the Company's press releases and in Disclosure Statements and Reports filed with the Over the Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof.
Contacts:
info@bitcoincapitalcorp.combitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || JPMorgan launches blockchain trial project: FT: (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday. The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks. One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said. “To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks,” Daniel Pinto, head of JPMorgan’s investment bank, told the Financial Times. It “makes all the sense in the world" to explore blockchain's potential to improve that process. Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities. (Reporting by Carl O'Donnell; Editing by Peter Cooney) View comments || Microsoft: Sorry, your bitcoin is still good here: Technology company Microsoft (NASDAQ: MSFT) was forced to apologize on Monday, after accidentally announcing that it would no longer accept bitcoin. Contrary to an earlier statement, Microsoft users can still use the virtual currency to buy content in the Windows and Xbox stores. Earlier on Monday, the software giant mistakenly suggested it had stopped accepting payment in bitcoin. "We apologize for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected," a spokesman told CNBC. A now-deleted post on Microsoft's website indicated there was no more bitcoin for Windows 10 and Windows 10 mobile users. The post was picked up by tech site Softpedia Sunday and sent the technology blogsphere buzzing. "You can no longer redeem Bitcoin into your Microsoft account," the errant post read. "Existing balances in your account will still be available for purchases from Microsoft Store, but can't be refunded." In December 2014, Microsoft began accepting bitcoins for Windows 10 store purchases from users in the United States. Transactions were made through the bitcoin processor BitPay. BitPay said it saw the volume of bitcoin transactions grow 110 percent in 2015 versus a year earlier, according to a blog post this January. BitPay did immediately responded to CNBC's requests for comment. — CNBC's Anita Balakrishnan contributed to this report. More From CNBC Top News and Analysis Latest News Video Personal Finance || New Study Shows Bitcoin Still Has A Long Way To Go: Bitcoin has gained notoriety quickly over the past few years, as more people become familiar with cryptocurrencies. While the majority of the public is still skeptical regarding the safety and security of the currency, bitcoin's user base has been growing. However, although bitcoin enthusiasts say the payment system has made major gains over the past few years, a new study shows the cryptocurrency is still widely misunderstood, even by those who use it. Limited Understanding A peer-reviewed study conducted by Janne Lindqvist of Rutgers Wireless Information Network Laboratory showed both users and non-users of the cryptocurrency have only a basic understanding of how bitcoin works and how safe it is to use. Related Link: Interest In Bitcoin Mining Returns For those who have yet to try bitcoin, the study indicated they worried about adopting the currency and saw setting up an account as too difficult. Users Misinformed Surprisingly, the study also showed that many of those who use bitcoin regularly also found the system difficult to understand. Not only were bitcoin users misinformed about the level of security bitcoin transactions provide, but they also struggled to wrap their minds around how bitcoin transactions are carried out. Government Backing Important Another factor from the study that garners attention was that both users and non-users were keen for further government intervention for Bitcoin. While users typically expressed anti-government views and said less regulation was important to them, they still said that backing from the government would make the bitcoin system more secure. Image Credit: Public Domain See more from Benzinga Under Armour's Partnership With IBM Could Revive Both Brands Can Bank Stocks Recover? A New Way To Advertise © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || First Bitcoin Capital Corp. Signs Evaluation Agreements with Emercoin International Development Group, To Develop and Market Solutions to Provide Distributed Blockchain Services For Business and Personal Use: VANCOUVER, BC / ACCESSWIRE / January, 28, 2016 /First BITCoin Capital Corp. (BITCF) announced today that it has signed an evaluation agreement with Emercoin International Development Group, a leader in solutions to provide distributed blockchain services for business and personal use. First BITCoin has signed certain evaluation agreements to promote Emercoin technology for wide spectrum of blockchain based technologies:
1. EMC/SSH- Secure shell management system needed by every site admin.
2. EMC/DNS- Uncensored domain name system, peering with OpenNIC.
3. EMC/LNX-- Decentralized pay-per-click advertising network.
4. EMC/SSL- System for password less authentication on the world wide web.
5. Info/Card- Storage for electronic business cards for use with EMCSSL.
6. EMC/TTS- Trusted storage for digital timestamps on the blockchain.
7. MAGNET - Distributed torrent tracker for internet file sharing.
8. EMC/DPO- Digital proof of ownership solution for physical or digital goods and services.
First BITCoin is also evaluating investing in Emercoin to support Emercoin's market expansion and acceptance worldwide.
Oleg Khovayko, Emercoin Lead Developer, said, "Key difference in Emercoin from other cryptocurrencies is that we are using blockchain not just for transfer credit values. We consider Emercoin as a technological platform for distributed, censorship–proof and scalable services. So we developed a suite of services running on top of the Emercoin blockchain that will be very useful for a lot of companies and even private persons."
In addition, our goal is provide stable, robust and easy to integrate services. Hence, our solutions are compatible with industry standards, proven their efficient and security.
"We are excited to have the opportunity to evaluate and possibly invest in EMERCOIN , especially due to their recent partnership with Microsoft Corporation (NASDAQ:MSFT) to deliver their blockchain services to the Azure cloud's Blockchain-as-a-Service marketplace, also known as BaaS Platform," the Company spokesperson said. "We are always looking for disrupting, new and promising technologies, and are ready to invest in those companies to help them to market their technology worldwide."
About EMERCOIN Group
EmerCoin (EMC) is a decentralized, open-source cryptocurrency created in late 2013 and based on technologies from Bitcoin, Namecoin and Peercoin. It utilizes both Proof-of-Work and Proof-of-Stake mining. Emercoin, a leading digital currency and blockchain platform has just partnered with Microsoft to become a member of the Azure marketplace. With demand growing for innovative, scalable blockchain services that are ready to implement, Emercoin is a natural fit for the Azure cloud platform. They have developed a robust suite of ready-to-use features that offer real world solutions for business and consumer use.
Emercoin will be delivering their suite of blockchain services into the Azure cloud later this year. This will give Azure cloud users the ability to install and make use of Emercoin's many services such as digital proof of ownership and identity, passwordless authentication on the internet, network security, the first distributed advertising network and many E-commerce solutions like the Emercoin secure micropayment service.
For more information please visitwww.Emercoin.com.
About First BITCoin Capital Corp.
First Bitcoin Capital Corp. is a development-stage Canadian-based mining company currently holding concessions of Gold in Venezuela and is developing technology for the crypto-currency industry. It is the first vertically-integrated consolidation company of the Bitcoin and crypto-currency marketplace.
The Company is developing the following digital assets
www.CoinQX.com- online cryptocurrency Exchange.
www.BITessentials.com- online shopping mall (in Beta testing) allowing multiple vendors to place their products ans sell for cryptocurrency. Company has partnered with GoCoin , A global leader in Blockchain payments and innovation, GoCoin was the first international platform for enabling merchants to Blockchain currency payments including Bitcoin and popular altcoins Litecoin, Dogecoin and Tether at checkout.
www.iCOINews.com - Real time crypto currency news aggregator platform.
www.BITminer.cc- Mining and equipment sales for cryptocurrency miners.
The Company currently develops other innovative projects.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "believes," "plans," "anticipates," "intends," or "expects," or similar expressions or statements regarding intent, belief of current expectations used in the Company's press releases and in Disclosure Statements and Reports filed with the Over the Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof.
Contacts:
info@bitcoincapitalcorp.combitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Digatrade Executes Bitcoin Debit Card Development Contract: Digatrade Bitcoin Debit Card Set to Launch
VANCOUVER, BC / ACCESSWIRE / February 25, 2016 /BITX FINANCIAL CORP (BITXF) and its 100% owned and operated digital asset-currency exchange DIGATRADE™ (digatrade.com) today announced the execution of a technology development agreement with ANX Technologies. Under terms of the agreement Digatrade will have a bitcoin debit card developed by ANX Technologies, one of the world's first financial technology companies to have developed a bitcoin debit card and one of the largest distributors of debit cards in the market offering customers as well as businesses a fast and reliable payment solution.
The Digatrade debit card will provide a gateway between digital assets and traditional payments processing. The reloadable debit card can be used to make purchases in any retail, point-of-sale devices or withdraw cash from ATMs that support the global payment network. Digatrade customers will be able to add funds to their debit card via the Digatrade exchange platform and will empower digital assets to be accepted worldwide.
More information will be made available as it materializes.
ABOUT DIGATRADE:
DIGATRADE is a global digital asset-currency exchange located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Bit-X Financial Corp which is publically listed on the OTC.QB under the trading symbol BITXF. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Digatrade has now become a global platform offering its customers instant card-based transactions worldwide.
CORPORATE CONTACT INFORMATION:
Brad Moynes, CEOBit-X Financial CorpDigaTrade.com838 West Hastings Street, Suite 300Vancouver, BC V6C-0A6CanadaTel: +1(604) 200-0071Fax: +1(604) 200-0072www.digatrade.com
Media inquiries:
press@digatrade.com
Forward-Looking Information
This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE:Bit-X Financial Corp || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn
(Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said.
Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals.
But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions.
“It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks.
Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs.
The victims included a transportation company and a technology firm that had 30 percent of its machines captured.
Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December.
Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters.
The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly.
The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions.
Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement.
Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware.
It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013.
The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments.
Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities.
PAYMENT IN BITCOIN
Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats.
In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks.
Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay.
Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams.
The involvement of more sophisticated hackers also promises to intensify the threat.
InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT.
“The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said.
(Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Bank of America is going big on blockchain: Bank of America (NYSE: BAC) is trying to steal a march on the latest developments in the technology behind digital currency bitcoin (: BTC=) by loading up on blockchain-related patents. Blockchain works like a huge, decentralized ledger for the digital currency bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with. Major financial institutions -- including the Bank of England -- have released a number of notes over the last year on the potential of the technology and have created teams within their organizations to look into how to develop the cryptocurrency. But Bank of America is going one step further by attempting to patent some of the use cases of the technology. The company has already filed for 15 blockchain-related patents and is currently in the process of drafting another 20 to be submitted to the U.S. Patents and Trademark Office (USPTO) later this month, a spokesperson told CNBC on Wednesday. "Blockchain's very intriguing and for us it's a balance between not wanting to be Neanderthal but not wanting to put something out in a commercial application where the commercial application is still very unclear as a technologist, the technology is fascinating," Catherine Bessant, the chief operations and technology office at Bank of America, said during a CNBC event at Davos last week. "And we have tried to stay on the forefront, I think we have somewhere around 15 patents, most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space. (It's) very important in the intellectual property world to reserve our spot even before we know what the commercial application might be." In December, the United States Patent and Trademark Office (USPTO) published 10 of Bank of America's applications. The USPTO publishes patent applications 18 months after they're filed. But the latest information shows that the number of patents Bank of America has filed for and is looking to apply for is much higher. Story continues Bank of America patents published by the USPTO showed proposals for a "cryptocurrency risk detection system" and "suspicious user alert system" among others. These patents have not yet been granted. The technology might be some years off before becoming mainstream for banks, but institutions are taking a collaborative approach to the technology, working with start-ups and even rival lenders. A consortium of more than 25 banks, led by fintech (financial technology) company R3, is currently developing a framework for applying blockchain technology to markets. Last year, Goldman Sachs released a note that said blockchain could "change everything" while banks from Barclays to UBS explained how the technology could be used in areas from remittances to drawing up contracts. More From CNBC Top News and Analysis Latest News Video Personal Finance || For Mac Users, The Security Bubble Has Burst: Apple's Mac operating systems are known for their resistance to malware, viruses, hackers and ransomware, which is one reason many people opt for Mac computers. Still, they're not invincible, and as a security company recently reported, Mac users should be aware of potential threats. Researchers at Palo Alto Networks reported finding "the first fully functional ransomware seen on the OS X platform," according to a March 6 post on their site. What Is Ransomware? Ransomware is what it sounds like: Cyber criminals infiltrate your computer and hold it (or more specifically, its data) hostage. They demand you pay them if you ever want your files back. They often want payment in digital currency like Bitcoin, because these transactions are difficult to trace — and it's a hassle for the victim to acquire and transfer. Apple did not immediately respond to request for comment on the reported attack. However, Palo Alto said in its blog post that, after it reported the occurrence to Apple, the Mac maker shut down the infiltration and updated its anti-virus system. How to Protect Yourself Ransomware attacks can be particularly stressful for consumers if the stolen data includes personal information, work data or irreplaceable files (think photos). Not only is this a case to back up your hard drive, it's also a reminder that you may want to install anti-virus software or malware protection on your computer, no matter how secure you think it is. Guarding your personal information is no joke. Losing your sensitive information to a criminal puts you at risk for identity theft . It can take a lot of time and money to recover from identity theft, not to mention the credit damage you might suffer. On top of that, if someone gets access to your Social Security number, the risk of fraud never goes away, because the Social Security Administration rarely changes numbers. Protecting your devices goes hand-in-hand with habits like reviewing your financial accounts for unauthorized activity and monitoring your credit for signs of fraud . (You can see a free summary of your credit report, updated each month, on Credit.com.) Story continues Taking steps to prevent cyberattacks is important, but so is having a plan for how to deal with one if it happens. Ideally, such planning will make the incident less stressful and less costly. You can report cyber crime to the Federal Bureau of Investigation and go here to learn what to do if you are a victim of identity theft . More from Credit.com How to Use Credit Monitoring to Protect Your Child's Identity Does Credit Repair Work? Can Credit Repair Companies Help? What Is a FICO Score? || Surprising Gift Offered to Bitcoin Sellers at Coin Reverse Inc.: Coin Reverse Inc. Is Now Offering Engraved Bitcoin to Their Customers
NEW YORK, NY / ACCESSWIRE / January 29, 2016 /Coin Reverse Inc. (http://www.coinreverse.com) has hit the charts with their latest offer on Bitcoin purchase: they're not only offering 15% more than Blockchain's official rate for each Bitcoin they purchase, but they are also putting a surprise gift on transactions amounting 10+ BTC.
CoinReverse's marketing team has gone creative enough to attach a special gift to each and every transaction amounting more than 10 BTC: they are offering a 24-karat gold coin with the Bitcoin engraved on both sides. The mechanism is simple: each customer selling over 10 BTC within one transaction is asked to provide a mailing address and the company delivers the gift via a courier.
CoinReverse's Marketing Manager Jacob Gustavo is enthusiastic with their latest gift idea, while being positive that people involved in the cryptocurrency market are definitely welcoming a jewelry-like item engraved with the Bitcoin logo, being offered to them for doing business with CoinReverse.
"In this way, we are offering our customers a somehow materialized version of this virtual, non-material coin. We think it's pretty cool to put your hands on a coin carrying the Bitcoin's logo, especially if you're passionate about the cryptocurrencies," declares Jacob Gustavo, company's Marketing Manager.
Coin Reverse Inc. is a cryptocurrency trading company based in NewYork, USA, founded and developed by few bold investment professionals who have seen the business opportunity outside the traditional capital markets and have targeted cryptocurrency trade in terms of medium and long-term investments strategy.
Business is operated in an effective manner, with a user-friendly platform and easy contact means through the company's website and via e-mail, with 24/7 assistance through a Live Chat Section offered. Payments for the trade are free of any charges on the customer's side, while the company covers all the costs involved. The most common payment methods are available: PayPal and Bank Transfer.
All the details related to the company's offer and other information, together with the contact details of the Sales Team are available on their website:http://www.coinreverse.com.
No restrictions on customers' provenience and payment destination countries or currencies are in force within the company's policy.
For more information about us, please visithttp://coinreverse.com.
Contact Info:
Name: Tom JunoOrganization: Coin Reverse Inc.Address: 1370 Broadway, 5th FloorPhone: (315) 210-8349
SOURCE:Coin Reverse Inc.
[Random Sample of Social Media Buzz (last 60 days)]
My monster has 25 hp left! I've earned a total of 8,760 satoshi http://www.monstercoingame.com/?id=5794452 #monstercoingame #Bitcoin || Liquid Bitcoin || Liquid Bitcoin || Liquid Bitcoin || Liquid Bitcoin || 1 KOBO Price: YoBit = 0.00000167 BTC (0.00069172 USD) #KOBO #BTC #KOBOprice #Kobocoin 2016-03-16 09:00 pic.twitter.com/NXz1zYmwDG || Liquid Bitcoin || TheBeachCraze : The easiest way to get Bitcoin - http://ift.tt/1KOvXQt || Liquid Bitcoin || Bleutrade: DCR/BTC Vol.:$ 5,808(37.06 %) Price:$ 2.09 | CREVA/BTC Vol.:$ 3,986(25.43 %) Price:$ 0.006753 | ETH/BTC Vol.:$ 2,898(18.49...
|
Trend: no change || Prices: 418.04, 416.39, 417.18, 417.95, 426.77, 424.23, 416.52, 414.82, 416.73, 417.96
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-04-07]
BTC Price: 56048.94, BTC RSI: 49.06
Gold Price: 1740.10, Gold RSI: 51.33
Oil Price: 59.77, Oil RSI: 47.63
[Random Sample of News (last 60 days)]
SEC’s Hester Peirce Says ‘Alluring’ DeFi Space Needs Legal Clarity: U.S. Securities and Exchange Commission Commissioner Hester Peirce said regulators need to provide “legal clarity and freedom to experiment” to allow decentralized finance (DeFi) to compete with the traditional financial system.
• In aspeechMonday for the George Washington University Law School “Regulating the Digital Economy” conference, Peirce described DeFi as “a very good test” for regulators to regulate in such a way that it empowers investors and markets.
• Peirce made reference to “anti-Wall Street sentiment” evidenced in events such as the GameStop trading frenzy, which, she said, have “inspired some to call for throwing the legacy financial system out entirely” and replace it with DeFi.
• Amid suspicions that financial markets are not working for everyone, DeFi is “building an alternative to the legacy centralized financial system (CeFi)” with smart contracts replacing intermediaries, according to Peirce.
• Peirce concluded that DeFi would be a challenge for regulators but would also provide new tools to meet that challenge, saying, “The regulator’s job is unchanged even though the stage is set with more modern scenery.”
See also:SEC Commissioner Peirce Says Market Is Ready for a Bitcoin ETP
• SEC’s Hester Peirce Says ‘Alluring’ DeFi Space Needs Legal Clarity
• SEC’s Hester Peirce Says ‘Alluring’ DeFi Space Needs Legal Clarity
• SEC’s Hester Peirce Says ‘Alluring’ DeFi Space Needs Legal Clarity
• SEC’s Hester Peirce Says ‘Alluring’ DeFi Space Needs Legal Clarity || Florida teen pleads guilty to hacking Twitter accounts of Biden, celebrities: (Reuters) - The Florida teenager accused of being behind the hack of celebrity Twitter accounts last year has pleaded guilty in the state's 13th Judicial Circuit Court in Tampa and agreed to serve three years in juvenile prison. Those whose accounts were hacked included U.S. President Joe Biden, who was then a presidential candidate; former president Barack Obama; billionaires Jeff Bezos, Bill Gates and Elon Musk; singer Kanye West; and reality TV star Kim Kardashian. Graham Ivan Clark, 18, faced fraud charges after a hack in an alleged scam that stole more than $118,000 in Bitcoin. Fraudulent tweets soliciting investments in the digital currency were posted in mid-July from over 40 verified Twitter accounts. Florida had charged the Tampa resident as an adult with 30 felonies. In August, Clark pled not guilty. As a child, Clark found ways to trick players of the video game Minecraft, people who knew him at the time told The New York Times. He moved on to selling and swapping rare social media user names on the forum OGUsers, where he connected with other hackers who said they participated in the Twitter breach, according to the newspaper. A report released in October by New York's Department of Financial Services said that Twitter suffered from cybersecurity shortfalls that enabled the "simple" hack attributed to the Florida teenager to take over the accounts of some of the world's most famous people. (Reporting by Kanishka Singh in Bengaluru; Editing by Kim Coghill) || This Tesla Stock Dip Is a Gift Just Waiting to Be Bought: Shares of electric vehicle makerTesla(NASDAQ:TSLA) have taken off like a rocket ship over the past year. At the start of 2020, this was a $90 stock. Recently, the TSLA stock price peaked at $900. In essence, then, Tesla stock has increased by 10X in just 14 months.
Source: Grisha Bruev / Shutterstock.com
That’s an enormous rally.
If you missed out on these explosive gains, don’t worry. Because over the past few weeks, TSLA stock has shed about 15% on concerns over rising interest rates pressuring equity valuations.
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These concerns are ephemeral and overstated. At the same time, the fundamentals underlying Tesla’s automotive and energy businesses are only getting better by the day.
To that end, this dip in TSLA is a gift. Use it to buy the dip.
• I’m Revealing the Next Amazon Stock for FREE on Tuesday, Feb. 23 — Join Me Here!
Here’s a deeper look.
The recent rising in interest rates — the 10-Year Treasury yield has pushed above 1.3%, from 1.1% at the start of the month — is something to watch closely. But its impact on the market is both ephemeral and overstated.
Rates are pushing higher right now because of huge fiscal and monetary stimulus. That inflationary force will continue for the foreseeable future. But it’s simultaneously fighting against much bigger, more enduring deflationary forces in automation and globalization.
That is, automated technology is capable of replacing millions of jobs today. Think language processing software automating call-centers and customer service reps. Think self-check-out kiosks automating cashiers. Think telehealth platforms automating the hospital front desk.
Technology has advanced to the point of being ready to replace millions of jobs. At the same time, thanks to Covid-19, more and more enterprises are comfortable with adopting these technologies. The result is that, over the next few years, we are going to see huge and permanent job loss in some sectors of the economy.
That’s an enormous deflationary force.
Equally as powerful is globalization, as the global geopolitical stage is now set for globalization to come back into the spotlight and for companies to more aggressively outsource labor and production – which will keep consumer prices low.
So, yes, the government is spending a bunch of money. But they almosthaveto spend a ton of money just to keep rates from going negative.
Long-term, we are stuck in a lower-for-longer situation when it comes to interest rates.
That’s important, because while higher rates will hurt equity valuations, my numerical analysis of the relationship between interest rates and equity valuations dating back to the 1980s found that the 10-Year Treasury yield would have to rise to 2.5% before it started to have a meaningful impact on valuations.
News flash: That isn’t going to happen anytime soon.
So, the recent weakness in the stock market is a buying opportunity — especially in high-quality growth stocks like Tesla.
While the TSLA stock price has collapsed, the fundamentals underlying Tesla’s business have only improved.
Let me explain with a little story …
No power. No water. Below freezing temperatures.
These are the apocalyptic conditions that millions of people across Texas have had to endure over the past week, as unusually cold weather has laid waste to the state’s electric grid.
It’s an awful situation. And it’s not isolated.
We only have to go back a few months to late summer 2020 to see the last time this happened. That’s when millions of folks in California lost power because of a heat wave across that state.
Too hot. Too cold. Today’s energy grid is like Goldilocks — the situation has to be just right, or it won’t work.
Unfortunately, climate change means that “just right” is becoming abnormal. Too hot and too cold will become more and more frequent going forward. This change in prevailing temperature conditions requires a change in our energy grid … else, blackouts will become commonplace.
What’s the fix?
Tesla.
You see… Tesla isn’t a car company. It’s an energy company. Tesla is figuring out to how harness clean energy and use to power the world.
One way is by making a new class of affordable, high-performance EVs. Another way is by installing solar panels. Yet another way is by creating a suite of energy storage solutions like the Powerwall.
Just think about it. If every home, apartment building, office, restaurant, and retail center in Texas had a Tesla Powerwall — which had, over the past several months, stored excess power and hosted it on-site for use on a “rainy day” — then no one would’ve lost power in February.
Indeed, in that world, no one loses power, anywhere, ever. Everyone is always powered.
This is the future. And Tesla is at the epicenter of this future as one of the two leading companies in the energy storage space. Further, the company should be able to leverage its branding power — everyone knows the Tesla name and brand (and importantly, trusts it), while other players in this space are far from household names — to remain one of the largest player in energy storage for the foreseeable future.
At the same time, the company should be able to lean into its technology, branding, and production advantages to remain the EV industry leader, while also leveraging its brand and tech to turn into a solar industry leader, too.
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Big picture: The Tesla growth narrative is just getting. Growth momentum will accelerate over the next day. The TSLA stock price will power higher. See near-term dips in this long-term winner as buying opportunities.
TSLA stock is one of the best long-term growth stocks in the market today. Long-term, it has huge upside potential.
But it’s not thebestgrowth stock to buy today.
Instead, the best growth stock to buy today is a company which reminds me of a youngAmazon(NASDAQ:AMZN). Indeed, I think buying this stock today could be like buying AMZN stock back in 1997 — before it soared thousands of percent.
Which stock am I talking about?
Click hereto find out.
P.S.If you’ve been following my work, you know I’m extremely bullish on innovation. And right now, we have rarely seen such opportune moments throughout history to invest in innovation.
While I have many stocks on my watch list that excite me, there’s one stock in particular that I’m absolutely giddy about. And I’ll be giving this stock pick away – for FREE – at my first-everExponential Growth Summiton Feb. 23, at 4 p.m. EST.
In anticipation of this event, I’ve included my free primer explaining exactly why I’m so excited about this stock –click herenow to register and get your free report sent directly to your inbox.
Also, check out the video below for more insights into this one-of-a-kind event:
On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
By uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends. It’s how his Daily 10X Report has averaged up to aridiculous 100% returnacross all recommendations since launching last May.Click hereto see how he does it.
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The postThis Tesla Stock Dip Is a Gift Just Waiting to Be Boughtappeared first onInvestorPlace. || Tesla Employee Revelations On Solar Fires Classified As Evidence In Federal Probe: Report: A formerTesla Inc. (NASDAQ:TSLA) employee’s complaint about how the company managed and communicated about fire risks in its solar installations is being treated as evidence by the U.S. Consumer Product Safety Commission in its investigation, CNBCreportedMonday.
What Happened:The CPSC is proceeding with the investigation and has interviewed Steven Henkes, a former Tesla solar field quality manager, as per the report, citing documents CNBC received through a Freedom of Information Act request. Henkes filed a complaint in spring 2019 and also filed a lawsuit against Tesla in November last year.
Henkes reportedly said in his lawsuit that he was fired from his job at Tesla in August last year for raising safety concerns internally and later filing formal complaints with government offices over the company’s failure to communicate accurately with customers over fire risks in its solar installations.
Henkes told CNBC through his attorney Robert Wallace that “there continues to be a real threat of fires due to serial defects in the Tesla installations and consumers have not been adequately informed of the risks.”
See Also: Tesla Sued By Customer Over Alleged 'Bait-And-Switch' Tactics In Solar Panel Deal: Report
Why It Matters:Tesla's solar business, born out of its 2016 acquisition of SolarCity, installs rooftop photovoltaics, carport and ground-based solar energy systems.
The solar business is reported within Tesla’s “Energy Generation and Storage” segment. The segment represented only 6% of Tesla’s fiscal 2020 revenues, but grew 30% year over year, according to aregulatory filing. Tesla deployed 3.02 GWh of energy storage products and 205 megawatts of solar energy systems in the year.
Tesla has installed solar panels at more than 240Walmart Inc.(NYSE:WMT) stores. Walmartfiled a lawsuitagainst Telsa in August 2019, claiming that "no fewer than seven" stores have experienced a fire due to Tesla's solar panels. However, the companies settled their lawsuit in November 2019.
Price Action:Tesla shares closed 2.3% higher on Monday at $670.00, but declined 0.2% in the after-hours session.
Read Next:Tesla Scores The World's First 8,000-Ton Casting Machine For Its Cybertruck: Report
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Remote Siberian data center reaps rewards of bitcoin rally: By Alexander Marrow MOSCOW (Reuters) - Four thousand kilometres from Moscow near the shores of the Angara River, a Russian firm operating a vast data centre run on cheap local hydroelectric power is reaping the rewards of bitcoin's surging prices and plans to double its power output this year. BitRiver hosts equipment at its flagship 100-megawatt data centre in the city of Bratsk, along with other smaller sites, for foreign miners of the cryptocurrency from the United States, Europe and Japan who want to harness the region's cheap energy. The company could already be responsible for as much as 2% of global bitcoin mining, Chief Executive Igor Runets estimated, but added precise figures in the sector were hard to come by. The price of bitcoin has risen almost 300% since the start of November and topped $50,000 dollars for the first time last month, as Tesla Inc bought $1.5 billion worth of bitcoin and other large companies and investment houses followed small traders into the asset. Bitcoin is earned -- or 'mined' -- by using your computer to help process the uncrackable "blockchains" or digital transaction records that underpin the currency. This requires huge computing capacity, and a lot of electricity, and so is mostly done with huge machines in aircraft hangar-sized warehouses in the cooler climates of Iceland, Canada, northern China and Russia, where it costs less to disperse the heat generated. The rewards for those who can verify transactions in the process which produces bitcoins have never been greater. "Current demand from our clients exceeds 700 megawatts and is approaching one gigawatt," said Runets. "We will of course continue to build data processing centres. In 2021, we plan to reach 300 megawatts of power." Another 100-megawatt centre is already under construction in the neighbouring Buryatiya region, Runets said. Big deals with foreign firms, such as one last December which saw 14 lorries full of equipment arrive in Bratsk, can boost the local economy and are a sign that BitRiver has become a global player, he said in a company video. Story continues BITCOIN VOLATILITY Russia granted cryptocurrencies legal status last year, but banned them from being used as a means of payment. "Current legislation in Russia does not hamper us in any way," Runets said. "It allows us to host foreign clients' computing equipment on Russian territory with settlements for this in dollars or roubles." This arrangement reduces the financial impact of bitcoin price swings on BitRiver. "When bitcoin falls or rises, my profit, my revenue remains almost unchanged," Runets said. "This financial stability in a volatile market is very valuable." More liberal legislation would lead to greater investment from Russian players, Runets added, which could help BitRiver improve on its 2.5x year-on-year revenue growth in 2020. He declined to disclose further financial details. One of the primary concerns levelled at bitcoin miners is their carbon footprint. Runets said BitRiver uses more than 90% green power as it builds data centres in regions with electricity surpluses and renewable energy sources nearby. Russia accounts for about 7% of the world's bitcoin mining, according to Alexander Brazhnikov, executive director of the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain, a figure that does not include grey-market players and those illegally connecting to power grids. Kazakhstan is responsible for a similar figure, while China is the market leader. (Editing by Katya Golubkova and Alexandra Hudson) || Market Wrap: Bitcoin Above $49K While Ether Transaction Fees Surge Again: Bitcoin set a new record above $49,000 after trading between $47,000 and $48,000 for much of Thursday. Traders and analysts told CoinDesk they remain bullish on the overall market, as institutional investors’ interest in bitcoin is growing “at a staggering pace.” Bitcoin (BTC) trading around $47,174.04 as of 21:00 UTC (4 p.m. ET). Gaining 5.48% over the previous 24 hours. Bitcoin’s 24-hour range: $44,057.64-$48,635.84 (CoinDesk 20) BTC above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians. Despite bitcoin’s new historical high price earlier Thursday, the trading volume on the eight exchanges tracked by the CoinDesk 20 remains low compared with earlier this week. The focus of the market on Thursday was on the news that more big players are embracing bitcoin; Mastercard said it will allow merchants to receive payments in cryptocurrency soon, and BNY Mellon announced it will launch a new digital custody unit . Related: Bitcoin News Roundup for Feb. 12, 2021 “To put it simply, it’s really hard to be bearish on bitcoin right now … and you don’t even need to look too deeply at all of the fundamental metrics and technical indicators to feel that,” said Adam James, senior content editor at OKEx’s research arm OKEx Insights . “The market is bullish,” Denis Vinokourov, head of research at digital assets broker Bequant, said. “There are no immediate fundamental factors that would drive the price down.” Read More: Mastercard Will Let Merchants Accept Payments in Crypto This Year That said, bitcoin is struggling to push higher after it briefly went above $48,000 earlier Thursday, according to Chad Steinglass, head of trading at CrossTower. He told CoinDesk that in the short term, the resistance level would remain at or just below $50,000. Related: BlockFi Boosted Grayscale Bitcoin Trust Holdings by 11.9M Shares, Now Holds $1.7B GBTC Story continues The nearest upside hurdle will be higher, at around $53,000, according to Katie Stockton, a technical analyst for Fairlead Strategies. She also pointed out that some overbought and oversold activity will support up to two months of price consolidation. In the longer term, said John Kramer, trader at market maker GSR, it is “realistic” to think that bitcoin’s on a “healthy” run towards $100,000 by the end of the summer. “Expect more banks to offer custody and additional products, as well as other companies to follow Tesla and MicroStrategy’s lead,” Kramer said. “On top of this, there’s still additional stimulus on the table, which is what kicked off this rally last spring.” However, in the derivatives market, options traders don’t appear convinced bitcoin will rally to $100,000 anytime soon. Based on current prices, the market has assigned a 12% probability this price be reached before the end of this year, as CoinDesk reported . Ethereum killers are killing it, as Ethereum gas fee surges The second-largest cryptocurrency by market capitalization, ether (ETH), was up Thursday, trading around $1,769.03 and climbing 2.75% in 24 hours as of 21:00 UTC (4:00 p.m. ET). On the technical side, Joel Kruger, cryptocurrency strategist at exchange LMAX Digital, said the initial resistance level would be the earlier all-time high at around $1,840 on Wednesday. “A break above [$1,840] will open the door for a test of massive resistance at $2,000, which represents a critical psychological barrier and measured move upside extension,” Kruger said. “We see the first level of support at $1,680, with a break below to take the immediate pressure off the topside and open the door for a correction back down towards the $1,500 area.” Ether’s rally is not just simply following bitcoin’s price trend, according to analysts. It is largely driven by the fast-growing decentralized finance sector. “As these [DeFi] projects continue to gain in popularity, we will likely see increased interest in ether,” Guy Hirsch, U.S. managing director at eToro, told CoinDesk. “It would not be surprising to see it make a run at $2,000 soon.” At the same time, significant growth of the “Ethereum Killers,” including Cardano, Polkadot, Solana, and Algorand, is a reflection of the frustration around the high gas fees on the Ethereum blockchain. Gas refers to the internal pricing unit for running transactions on Ethereum. Read More: Cardano, Polkadot Market Caps Surpass XRP as Some Bet on Alternatives to Ethereum “The high gas fees on Ethereum are clearly presenting opportunities to competing layer 1 smart contract platforms,” said Jason Lau, chief operating officer at San Francisco-based crypto exchange OKCoin. “As Ethereum continues through its multi-year process of launching Eth 2.0 to address its scaling issues, it remains to be seen whether developers will migrate their apps to other platforms.” Others, however, dismissed any threats to Ethereum. “The price performance [of “Ethereum killers”] does not necessarily mean there is a real threat to derail Ethereum’s dominance,” Vinokourov said. “In fact, the DeFi market continues to grow, and with it so does ether.” Other markets Digital assets on the CoinDesk 20 are mostly in green Thursday. Notable winner as of 21:00 UTC (4:00 p.m. ET): orchid (OXT) + 32.54% cosmos (ATOM) + 19.24% algorand (ALGO) + 16.87% Notable losers: kyber network (KNC) – 4.44% Equities: Asia’s Nikkei 225 closed in the green 0.19% as trading in Asia mostly remained muted due to the Chinese New Year holiday . The FTSE 100 in Europe closed mostly flat, up 0.1%, as investors watched the impact of Amsterdam replacing London as the new financial trading center in Europe. The S&P 500 in the United States went down by 0.3% after tech stocks gave up half their early gains. Commodities: Oil was down 1.26%. Price per barrel of West Texas Intermediate crude: $57.94. Gold was in the red 0.94% and at $1825.71 as of press time. Treasurys: The 10-year U.S. Treasury bond yield climbed Thursday in the green 1.162%. Update (Feb. 11, 0:17 UTC): Added new record high price for bitcoin in headline and first paragraph. Related Stories Market Wrap: Bitcoin Above $49K While Ether Transaction Fees Surge Again Market Wrap: Bitcoin Above $49K While Ether Transaction Fees Surge Again || GLOBAL MARKETS-Global equities rise as U.S. bond yield fears ease: (Adds close of U.S. markets)
* Fed chair again eases concerns about inflation
* Yield on 10-year Treasury jumps to 1.435%
* Dow hits record high, big tech still losers
* GameStop doubles in price in frenzy trade
* Reuters Live Markets blog:
* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
By Herbert Lash
NEW YORK, Feb 24 (Reuters) - A gauge of global equity markets rose on Wednesday after Federal Reserve Chair Jerome Powell said interest rates will remain low, calming market jitters sparked by a jump in U.S. Treasury yields on fears that a robust recovery would drive inflation higher.
Sales of new U.S. single-family homes increased more than expected in January as the median sale price rose 5.3% on a year-over-year basis, the latest data to show certain consumer prices are rising faster than expected.
Crude oil rose more than 2% to fresh 13-month highs while gold prices struggled for traction as elevated Treasury yields eroded the allure of bullion as an inflation hedge.
The dollar slid to multi-year lows against the pound and commodity-linked currencies including the Canadian, Australian and New Zealand dollars, as they are expected to benefit from a pick-up in global trade as world growth rebounds.
MSCI's all-country world index, a gauge of equity markets in 49 countries, added 0.30%, as rising stocks on Wall Street pushed the global benchmark to reverse early losses.
Progress in the rollout of coronavirus vaccines, which was boosted by news that Johnson & Johnson's one-shot vaccine appeared safe and effective, has increased economic optimism but also inflation concerns, said Patrick Leary, chief market strategist and senior trader at Incapital in Minneapolis.
"If you look at commodity prices, you look at real estate prices and you look at energy prices, they're up significantly higher than even pre-pandemic levels," Leary said.
In testimony before the U.S. House of Representatives Financial Services Committee, Powell reiterated the Fed's promise to get the American economy back to full employment and to not worry about inflation unless prices rise in a persistent and troubling way.
While rising yields give stock investors pause, the Fed is "pretty comfortable" with them as they take some of the froth out of the financial system, Leary said.
The 10-year U.S. Treasury note rose almost 1 basis point to yield 1.3722% after hitting 1.435% earlier. The benchmark Treasury yield traded at 0.912% at the end of 2020.
The sliding of 10-year Treasury yields below the 1.4% mark helped equity markets rebound from early losses, but the rotation out of technology stocks continued, with Amazon.com Inc and Apple Inc leading Wall Street lower. In Europe, the tech sector has lost nearly 4% this week.
The Dow Jones industrial average set a record high, rising 1.35%. The S&P 500 gained 1.14% and the Nasdaq Composite advanced 0.99%.
GameStop Corp stock, at the center of volatile moves in late January as its shares were talked about on a Reddit forum, more than doubled in price in late trading, and continued to soar in post-market trade in heavy trade.
Europe's broad FTSEurofirst 300 index closed up 0.4% at 1,590.09 after earlier trading lower on inflation fears.
The benchmark 10-year German Bund was steady after yields jumped on Tuesday.
A sharp rise in real bond yields in line with those seen during previous "bond tantrum episodes" would reduce the upside potential for European equities, BofA Global Research said.
Sectors set to benefit from a stronger economy were supported by German GDP data, as exports and solid construction activity helped Europe's biggest economy to grow by a better-than-expected 0.3% in the fourth quarter.
Germany's DAX rose 0.8%.
Falling tech stocks, which are sensitive to rising yields, pulled Asian markets lower overnight.
Bitcoin traded little changed, down 0.3% at $48,720.00.
The dollar index fell 0.063%, with the euro up 0.12% to $1.2164. The Japanese yen weakened 0.59% versus the greenback to 105.86 per dollar.
Oil prices rose after U.S. government data showed a drop in crude output after a deep freeze disrupted production last week.
Brent crude futures settled up $1.67 at $67.04 a barrel, while U.S. crude futures rose $1.55 to settle at $63.22 a barrel.
Brent and U.S. West Texas Intermediate (WTI) crude futures have both risen by about 28% so far in 2021.
U.S. gold futures settled down 0.4% at $1,797.90 an ounce.
(Reporting by Herbert Lash, additional reporting by Elizabeth Howcroft in London; Editing by Will Dunham, Chizu Nomiyama, Kirsten Donovan and Paul Simao) || CI Global Asset Management Launches Bitcoin Mutual Fund in Canada: CI Global Asset Management, a unit of a firm overseeing more than $230 billion in assets, launched CI Bitcoin Fund, whichit describedas North America’s first mutual fund to provide dedicated exposure tobitcoin.
• Through the fund, Canadian investors would be able to access the bitcoin market at what CI said was an industry-low management fee of 0.40% (Series F) and with an initial minimum investment of $500.
• In February, Canada-based CI Globalfiledto issue North America’s third bitcoin exchange-traded fund (ETF) and four days later filed for what would be the world’s firstetherETF.
• CI Global is a unit of CI Financial, one of Canada’s largest investment management companies.
• CI Global Asset Management Launches Bitcoin Mutual Fund in Canada
• CI Global Asset Management Launches Bitcoin Mutual Fund in Canada
• CI Global Asset Management Launches Bitcoin Mutual Fund in Canada
• CI Global Asset Management Launches Bitcoin Mutual Fund in Canada || $69M Beeple NFT Mystery Buyer 'Metakovan' Reveals His Identity: The person behind the $69 million winning bid for Beeple’s NFT has now revealed his true identity.
What Happened:The buyer, known until now as “Metakovan,” introduced himself as Vignesh Sundaresan in ablogon Metapurse’s website, saying that the pseudonym was never intended to be a mask.
Sundaresan is a software engineer of Indian origin and appears to reside in Singapore. The investor says that he comes from humble beginnings and claims that when he first discovered cryptocurrency in 2013, he had no money.
Why It Matters:Sundaresan describes his “first leg-up” in the space to be the sale of the now-defunct cryptocurrency Coins-e in 2014. Many users were scammed out of their tokens while using the exchange, with most complaints unresolved, onlineforumshave suggested.
Sundaresan then went on to co-found BitAccess, a Y Combinator-backed project, and served as CTO to the Bitcoin ATM operator before participating in the Ethereum ICO (Initial Coin Offering).
“Unlike the startup world where the capital raise process is opaque and confined to a rarefied group, new ideas in crypto are funded by people like you and I. The Ethereum ICO allowed me, an unknown, to invest in it,” he said.
With the wealth generated from his early crypto investments, the investor went on to found Metapurse — a crypto-exclusive fund that invests in early-stage projects across blockchain infrastructure, finance, art and NFTs.
Metapurse offers investments in a bundle of “high-value NFTs,” including 20 single edition Beeple art pieces that it purchased at an open auction for $2.2 million.
Users can invest in this by purchasing B.20 tokens, offered by Metapurse, which represent ownership of this NFT bundle.
As previouslyreported, the final day of the Christie’s auction saw the value of B.20 tokens rise to $23 implying a 6200% rise in B.20 token value since they were offered for sale on Jan 23.
According to ablogfrom Metapurse, Sundaresan holds 59% of the token’s total supply, while the artist Beeple owns 2% of it.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Market Wrap: Bitcoin Remains Around $48.5K Amid Flat Trading Activity: Bitcoin faced choppy markets for most of Tuesday after briefly trading above $50,000 for the first time during early U.S. trading hours. With some remaining bullish, other analysts and traders warned about near-term price correction. Bitcoin (BTC) trading around 48,810.95 as of 21:00 UTC (4 p.m. ET). Gaining 0.39% over the previous 24 hours. Bitcoin’s 24-hour range: $47,088.84-$50,584.85 (CoinDesk 20) BTC between its 10-hour and 50-hour averages on the hourly chart, a sideway signal for market technicians. Bitcoin’s trading volumes on the eight leading crypto exchanges tracked by the CoinDesk 20 remained flat on Tuesday, at roughly half of where it was on Monday on Feb. 8. Meanwhile, data from Glassnode shows that bitcoin’s balance on exchanges continues to drop, a bullish sign taken by some analysts . “We are at all-time-highs territory [and] the market still has to make up its mind” about next resistance or supporting levels, Alessandro Andreotti, bitcoin over-the-counter broker, told CoinDesk. “My opinion is that new highs [are coming] in the short term.” Related: Why the US Needs Bitcoin This is happening as retail investors are showing growing interest in the derivatives market . According to Arcane Research, March futures bitcoin contracts on the retail-focused platforms currently have an annualized premium rate averaging 44.16%. That outpaces those on the institution-driven CME, which shows an average of 24.39%. “There continues to be net inflows into crypto, particularly into futures,” Sam Bankman-Fried, CEO of crypto derivatives exchange FTX, told CoinDesk. “[And] people inside crypto continue to be particularly bullish.” Others, however, warn about near-term price correction, especially if there is a lack of fresh catalysts on top of Tesla’s $1.5 billion bitcoin purchase that was announced last week. Related: First Mover: What's Next After Bitcoin Hits $50K? Another $1K Gain Story continues “The market has gone parabolic since breaking through $20,000 and technical studies are warning of the need for a healthy pullback in the days and weeks ahead to allow for severely stretched readings to unwind and normalize,” said Joel Kruger, cryptocurrency strategist at institution-focused crypto exchange LMAX Digital. “The $50,000 price level is now relatively high for retail investors, and it is not easy for them to chase after,” Simons Chen, executive director of investment and trading at Hong Kong-based crypto lender Babel Finance, told CoinDesk. He added there was little chance retail investors will be able to push bitcoin’s price above the current record high price in the short-term period. On its Telegram channel, Singapore-based QCP Capital also expressed a tempered view on the short-term price movement, saying that, historically, bitcoin’s price trended lower in March due to seasonality . “The longer bitcoin stalls here without a fresh catalyst, the more we will be looking for a longer lasting downside into March. As we’ve highlighted before, the March downside seasonality followed by April upside seasonality is the strongest and most consistent seasonal pattern in bitcoin,” QCP Capital wrote. “It’s still too early now for us but into [the end of February,] if volumes drop further, we will be looking for some downside protection [at the end of March.]” One possible spur for the markets, as CoinDesk reported, is that business intelligence firm MicroStrategy is preparing to purchase more bitcoin . As well, Los Angeles-based privately held investment firm Wedbush Securities said that bitcoin could expect more corporate ownership and adoption after Tesla’s bitcoin investment, meaning that the “fresh catalyst” QCP mentioned could still be imminent. Ether moves little as DeFi sees small drop amid flash loan attacks The second-largest cryptocurrency by market capitalization, ether (ETH) was down Tuesday, trading around $1,754.31 and down 4.07% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Ether’s price has mostly stuck below $1,800 on Tuesday. This has led ether futures traders to close their positions, as what gains they’re able to eke out were eaten by the funding cost they pay for their contract, according to Vishal Shah, an options trader and founder of derivatives exchange Alpha5. “People are now in the habit of expecting prices to climb as if it’s a foregone conclusion,” Shah said. At the same time, the decentralized finance (DeFi) sector, which is mostly based on the Ethereum blockchain, continues to grow. However, one wrinkle occurred over the past weekend when a flash loan exploit on Cream Finance and Alpha Finance caused a loss of funds totaling $37.6 million and resulting in a slight decline of the total value locked in DeFi. Other markets Digital assets on the CoinDesk 20 are mostly in red Tuesday. Notable winners as of 21:00 UTC (4:00 p.m. ET): cosmos (ATOM) + 4% tether (USDT) + 0.04% Notable losers: orchid (OXT) – 17.4% xrp (XRP) – 10.6% kyber network (KNC) – 9.58% Equities: Asia’s Nikkei 225 closed in the green 1.3% after Japan’s economy bounced back . The FTSE 100 in Europe closed in the red 0.11%, as traders and investors took a pause from three-day gains on the equities market. The S&P 500 in the United States closed down a little on expectations of more fiscal aid to lift the U.S. economy from the damage cased by the coronavirus pandemic. Commodities: Oil was up 1.23%. Price per barrel of West Texas Intermediate crude: $60.20. Gold was in the red 1/27% and at $1794.97 as of press time. Treasurys: The 10-year U.S. Treasury bond yield climbed Tuesday jumping to 1.294%. Related Stories Market Wrap: Bitcoin Remains Around $48.5K Amid Flat Trading Activity Market Wrap: Bitcoin Remains Around $48.5K Amid Flat Trading Activity
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-04-27]
BTC Price: 1317.73, BTC RSI: 72.35
Gold Price: 1263.70, Gold RSI: 51.39
Oil Price: 48.97, Oil RSI: 37.70
[Random Sample of News (last 60 days)]
SEC Rejects Winklevoss Bitcoin ETF: It’s official. The Securities and Exchange Commission did not approve the Winklevoss Bitcoin ETF (COIN).
After sitting in the regulatory pipeline for more than three years, it’s back to the drawing board with the idea of putting the peer-to-peer digital currency in an ETF wrapper.
"We remain optimistic and committed to bringing COIN to market, and look forward to continuing to work with the SEC staff. We began this journey almost four years ago, and are determined to see it through. We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors," said Tyler Winklevoss, CFO, Digital Asset Services.
Going into this much-awaited decision, bitcoin prices had raced to a new record high above $1,300 in anticipation of a SEC “yes” to this fund. But following the news, bitcoin tanked to below $1,000, bleeding more than 18%.
The rejection hinged on the commission’s belief that the proposed fund and its listing on an exchange required more safeguards and more regulatory oversight. Bitcoin is traded on unregulated markets, which prevents the SEC from entering into “surveillance sharing” agreements that, among other things, help stomp out market manipulation, said Spencer Bogart, managing director and head of research at Blockchain Capital.
Prospects Grow Dimmer
The implication here, he says, is that because the disapproval centered on the bitcoin market structure itself—and not on any specific detail of the ETF design—prospects for other bitcoin ETFs to come to market just grew dimmer.
“The decision isn't that surprising,” Dave Nadig, CEO of ETF.com, added. “Ultimately this is less about what bitcoin is or isn't, and is about the underlying market structure for bitcoin itself. If the SEC doesn't know where the buck stops on a security, it's hard for them to get behind it. Honestly, the whole point of bitcoin is the buck never stops. It's unregulated by design.”
This was a big deal. The Winklevoss Bitcoin Trust would have been the first ETF to offer investors everywhere easy, transparent access to this peer-to-peer, unregulated digital currency that has gathered quite a following since the financial crisis of 2008. That access would have been made possible to anyone without the need to create separate accounts with bitcoin exchanges.
Bogart said adoption and use of bitcoins and its network have already been growing rapidly without the help of the ETF wrapper. Still, a bitcoin ETF would accelerate the already-fast-growing footprint of bitcoins.
Why A Bitcoin ETF Matters
“A bitcoin ETF would be a significant catalyst for a few reasons,” Bogart said. “For one, it would open the gates of bitcoin to institutional capital. Among other things, this could have a profound impact on price.”
Most institutional investors have mandates that allow them to only invest in registered securities, and bitcoin isn’t one, he says. But in an ETF, it would fit that bill. If nothing else, having a bitcoin ETF approved would improve “public perception” and help manage some of the regulatory risk many associate with bitcoin’s unregulated status.
“In addition, retail investors would be able to get exposure to bitcoin directly from their brokerage accounts instead of establishing a separate account with a bitcoin exchange,” Bogart added. “The way to think about ETF approval is as a low-probability catalyst that could accelerate bitcoin’s already-rapid adoption growth.”
About COIN
COIN, led by Cameron and Tyler Winklevoss of Facebook fame, was first put in registration more than three years ago.
Designed as a grantor trust, COIN would do in-kind creations and redemptions much like a physical commodity ETF such as theSPDR Gold Trust (GLD), and the fund would use the Winklevoss’ own bitcoin exchange Gemini to set the price.
That comparison to gold has been often touted. In an interview two years ago, the Winklevoss brothers told an audience of advisors thatbitcoins are “better than gold”as a store of value, inflation hedging and access to a still-growing global ecosystem that’s the future of the payments industry.
That’s because the Winklevoss brothers see bitcoin as a commodity more than as a currency. “An investment in the bitcoin ETF is an investment in the future performance of bitcoin and the underlying bitcoin protocol, not an investment in a bitcoin company,” they said in aninterviewin 2014.
Bitcoin All About Global Commerce
Mike Venuto, head of Toroso Investments, argues that, to investors, the bigger picture is that bitcoin is all about global commerce.
In arecent blog, he offered this perspective:
In a recent white paper, Deloitte & Touche described bitcoin as an “Internet of value exchange.” The real value of bitcoin is about the utilization of the infrastructure on which it is based. The more bitcoins are mined, or “hashed,” the more a free encrypted version of the internet is expanded. This self-reinforcing infrastructure that becomes more dependable as more people participate, is called the “blockchain.” It can be used in a way to transfer securities, to create artificial intelligence, secure real estate or art transactions and, potentially, for all kinds of other transactions. Look at bitcoin this way: 20 years ago, the internet democratized access to information, and now the bitcoin blockchain is democratizing access to commerce.
For now, access to bitcoin in an ETF can be found in theARK Web x.0 ETF (ARKW), which has a small allocation to bitcoins obtained through publicly traded shares of Grayscale’s Bitcoin Investment Trust(OTCQX: GBTC). That allocation currently sits around 5% of that portfolio.
But the launch of a strategy such as COIN would be “consequential,” Venuto says.
“In an age where asset allocation is its own asset class, a bitcoin ETF could have a place in many portfolios,” he said. “You can purchase bitcoins today. So, putting bitcoins into an ETF structure is not about making them accessible in a basic sense. It's about making bitcoins more accessible—that is, investable for any investor within a brokerage account.”
Contact Cinthia Murphy atcmurphy@etf.com
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Permalink| © Copyright 2017ETF.com.All rights reserved || Emerging Markets Report: Betting on a BitCoin Run: ORLANDO, FL / ACCESSWIRE / March 14, 2017 / On March 3, 2017 a single BitCoin hit an all-time high, with the digital currency trading for as much as $1,283. The rise was driven, at least in part, by speculation that the Securities and Exchange Commission (SEC) was considering the approval of the first BitCoin-based ETF. Factor in that the leading proponents of the BitCoin based ETF were the Winkelvoss twins of Facebook fame and it is clear that the BitCoin world is in a very different place than it was just a few years ago. This could bode well for companies which have tethered their business to BitCoin and other global digital currencies. Enter Digatrade ( DIGAF ) , a fully-reporting public company on the OTCQB that provides a proprietary global digital asset exchange that includes BitCoin and other others. Digatrade is indeed a pure digital currency play with a mantra of "digitizing finance one bit at a time." The Company is owned and operated by Digatrade Financial Corp, a company with headquarters in Vancouver, Canada. The proprietary Digatrade trading and matching engine manages high volume, high throughput, and low latency trading and was modeled on the same technology recently leveraged by the world's largest Investment Banks. It also features blended multi-currency settlement in addition to real time FX pricing and risk management fully powered by ANX Technologies. Digatrade offers an easy, secure, and affordable platform to buy and sell Bitcoin and other digital assets. Digatrade offers a 24 hour online platform that provides the automated matching of orders between its registered members and it strives to be your Bitcoin connection by making the experience as effortless as possible. It is Digatrade's mission to promote a healthy eco-system by providing value-added Bitcoin exchange services to the public. Digatrade is also lowering the barriers to Bitcoin and other digital asset adoption by increasing ways for consumers to acquire and access digital assets. Story continues The Digatrade user interface is focused on simplicity yet provides its' users with all the details they expect when buying and selling Bitcoin. Our designers regularly hold focus groups with the public to obtain feedback on their user experience and preferred user interface. Ease of use and simplicity are the number one priority. If you're looking for confusing menus or complicated navigation then you've come to the wrong place! Security is the cornerstone of Digatrade and the Digatrade team. Every element of our operation has been methodically designed for optimum security. This includes all factors including physical intrusion, exhaustive vetting and background checking of staff members, the cold storage of coins and manual (yet efficient) processing of all withdrawal requests, and dedicated awareness of recurring security threats such as social engineering, phishing, and remote zero day exploits to name only a few. For more information on DIGATRADE visit digatrade.com . About the Emerging Markets Report: Emerging Markets Report is owned and operated by Emerging Markets Consulting, a syndicate of investor relations consultants representing years of experience. Our network consists of stock brokers, investment bankers, fund managers, and institutions that actively seek opportunities in the micro and small-cap equity markets. For more informative reports such as this, please sign up at http://www.emergingmarketsllc.com/newsletter.php Section 17(b) of the Securities Act of 1933 requires that any person that uses the mails to publish, give publicity to, or circulate any publication or communication that describes a security in return for consideration received or to be received directly or indirectly from an issuer, underwriter, or dealer, must fully disclose the type of consideration (i.e. cash, free trading stock, restricted stock, stock options, stock warrants) and the specific amount of the consideration. In connection therewith, EMC has received the following compensation and/or has an agreement to receive in the future certain compensation, as described below. We may purchase Securities of the Profiled Company prior to their securities becoming publicly traded, which we may later sell publicly before, during or after our dissemination of the Information, and make profits therefrom. EMC has been paid 50,000 dollars by Marzany Inc. for preparation and distribution of this report and other media services. Emerging Markets Consulting, LLC Florida Office 15701 State Road 50, Suite #205 Clermont, FL 34711 E-mail: jamespainter@emergingmarketsllc.com Web: www.emergingmarketsllc.com SOURCE: Emerging Markets Report || Sports Fans Score as CONCACAF U-17s Kick Off on Flow Sports and Flow Sports Premier: MIAMI, FL--(Marketwired - Apr 21, 2017) - Flow customers score again as the 2017 Confederation of North, Central America and Caribbean Association Football (CONCACAF) Men's Under-17 World-Cup Qualifiers kick off on Flow Sports and Flow Sports Premier with multiplatform, on-the-go access via the Flow Sports app and website . Earlier this year Flow signed a partnership with CONCACAF to give customers a front row seat at both the Men's U-20 and U-17 championships. The winners of each division will go on to compete in the 2017 FIFA World Cup in India in October. The U-20s wrapped up on March 5 th , while the U-17s are set to take place in Panama from April 21 st to May 7 th . Sports fans can tune into Flow Sports , Flow Sports Premier and Flow 1 (for one game only 1 ) to watch all 25 live matches as twelve (12) teams from the Caribbean, Central America and North America vie to lock down their spot in the U-17 World Cup. Four (4) teams will advance. This year's line-up includes five (5) Caribbean nations -- Haiti, Jamaica, Cuba, Curacao and Suriname. "In keeping with our commitment to deliver high quality, relevant and unmatched Caribbean content, Flow Sports' viewers can look forward to yet another major sporting event to light up their screens," said Garry Sinclair, President of Cable & Wireless Caribbean. "Needless to say, the CONCACAF World Cup qualifier is one of the most important events for emerging Caribbean superstars and, as the Home of Sports in the Caribbean , it's only natural that football fans in the region would look to us to catch the action. We will continue to raise the bar and serve up great content like the CONCACAF championships for football lovers across the Caribbean." Along with the live segments, Flow Sports will also produce a pre-, post- and halftime show for the final on May 7 th . Hosts of the show include former professional footballer and Flow Sports Premier Weekly host Terry Fenwick , along with Trinidad & Tobago's U-17 coach Russell Latapy . Together they'll serve up detailed match discussions and provide fans with an expert perspective on tomorrow's Caribbean football stars. Story continues Commenting on the partnership with Flow, CONCACAF General Secretary Philippe Moggio said, "Ensuring the broadcast reach of our tournaments into the Caribbean has always been a priority for CONCACAF, and this deal with Flow helps us to immediately achieve that." Editor's Note: CONCACAF U-17 BROADCAST SCHEDULE 2017 Match Ups Broadcast Dates Time ECT Station 1 Curacao v Haiti Friday April 21 7:30 PM Flow Sports 2 Panama v Honduras 10:00 PM Flow Sports 3 Cuba v Suriname Saturday April 22 1:30 PM Flow Sports 4 Costa Rica v Canada 4:00 PM Flow Sports 5 Jamaica v USA Sunday April 23 1:30 PM Flow Sports 6 Mexico v El Salvador 4:00 PM Flow Sports 7 Honduras v Curacao Monday April 24 6:00 PM FS Premier 8 Panama v Haiti 8:30 PM Flow Sports 9 Canada v Cuba Tuesday April 25 3:00 PM Flow Sports 10 Costa Rica v Suriname 5:30 PM Flow Sports 11 1 El Salvador v Jamaica Wednesday April 26 4:00 PM Flow 1 12 Mexico v USA 6:30 PM FS Premier 13 Honduras v Haiti Thursday April 27 6:00 PM Flow Sports 14 Panama v Curacao 8:30 PM Flow Sports 15 Canada v Suriname Friday April 28 6:30 PM Flow Sports 16 Costa Rica v Cuba 9:00 PM Flow Sports 17 El Salvador v USA Saturday April 29 11:30 PM FS Premier 18 Mexico v Jamaica 2:00 PM Flow Sports 19 TBD Monday May 1 6:30 PM Flow Sports 20 TBD 9:00 PM Flow Sports 21 TBD Wednesday May 3 4:30 PM Flow Sports 22 TBD 7:00 PM Flow Sports 23 TBD Friday May 5 6:30 PM Flow Sports 24 TBD 9:00 PM Flow Sports 25 TBD Sunday May 7 (FINALS) 4:00 PM Flow Sports About CONCACAF The Confederation of North, Central America and Caribbean Association Football (CONCACAF) is the governing body for soccer in the region, and one of six continental authorities that administer the game along with FIFA. Formed in 1961 from the merger of the Football Confederation of Central America and the Caribbean and the North American Football Confederation, CONCACAF now has 41 member associations, from Canada in the north to Guyana, Suriname and French Guiana on the South American continent. As the administrative body for the region, CONCACAF organizes competitions, offers training courses in technical and administrative aspects of the game, and helps to build football throughout the region. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || Flow and Manchester United Team up to deliver the Ultimate Football Experience to Caribbean Footballers: MIAMI, FL--(Marketwired - Feb 27, 2017) - Up-and-coming Caribbean footballers between the ages of 13 and 16 will not be able to contain their excitement, as news breaks that Flow and Manchester United will host The Ultimate Football Experience , a skills-based competition, supported by the Caribbean Football Union . The programme seeks to give youngsters, the chance-of-a-lifetime to participate in a talent development football camp; and even earn a trip to Old Trafford, Manchester to see Man Utd vs Crystal Palace on May 21 st 2017. The good news gets even better as registration opens this week for the football competition which runs from March through to May 2017. Here's how it works: skilled boys and girls can register online at https://discoverflow.co/flowmanutd . Registered participants will then be instructed to appear at designated football festivals across all Caribbean markets in which Flow operates. The participants will engage in a Manchester United Soccer School's international programme, which has been specially devised for the campaign and will be delivered by CFU coaches. Throughout the competition Manchester United legends will also be making an appearance at the festivals to offer their tips and advice. This is a proven Manchester United Soccer School programme designed to build and test the skills of young footballers across the globe. As the competition evolves, two participants from each market, along with their respective coach, will advance to a two-day skills session in Trinidad and Tobago to experience one-on-one training with CFU and Manchester United Soccer School Coaches. There, they will participate in a series of drills designed by the coaches and compete for the chance for two finalists and their coach to win a once-in-a-lifetime trip to Old Trafford in Manchester, England. Considered to be the highlight of the development initiative the two winners along with their coaches will travel to the world-famous football stadium to witness first hand Manchester United's final Premier League game of the season against Crystal Palace. This VIP experience will also include a visit to the Manchester United Museum and Tour, taking in the history of the club followed by a tour of the iconic stadium. Story continues Manchester United's Group Managing Director, Richard Arnold said, "Youth development is at the heart of this Club's traditions and success. The Manchester United Soccer Schools were developed to help spread this spirit to as many children as possible. In recent years our partners have been instrumental in helping the great work of our Soccer Schools coaches reach young people around the world. We're proud to work with Flow on this project." "Like Manchester United, Flow also has a deep sense of commitment to youth development as can be seen by our support of several programmes throughout the region that help to hone the skills of young footballers," said Garfield Sinclair, Flow's newly appointed President of the Caribbean . Sinclair also said, "We're therefore proud to work in partnership with Manchester United to offer this once in a lifetime experience to our talented youngsters across the region." The Caribbean Football Union's ( CFU ) President Gordon Derrick gave a ringing endorsement of The Ultimate Football Experience, as he added: "The CFU is proud to be a partner with Flow on this exhilarating and beneficial initiative. Hundreds of young footballers in 15 countries -- half of the CFU's membership -- will have the opportunity to compete, hone their skills, and, for the finalists, live the dream. I am confident that this partnership will bode well for the future of football in the region." The Ultimate Football Experience is one of several Manchester United and Flow partnership initiatives. In January, Flow hosted the FA Cup Caribbean Tour during which the Company gave football fans up-close and unprecedented access to football's most coveted trophy. The final leg of the tour culminated in the Cayman Islands, where Manchester United ambassador Dwight Yorke made an appearance . Cable and Wireless is Manchester United's telecommunications partner in the Caribbean . About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || Record-Breaking Performances at Flow CARIFTA Games 2017: WILLEMSTAD, CURACAO--(Marketwired - Apr 25, 2017) - Caribbean sports fans had a front row seat at the recently concluded Flow CARIFTA Games 2017 as they witnessed record breaking performances by rising Caribbean star athletes via Flow's world class coverage of the Games on Flow Sports Premier. Ten athletic records were set over the three day event including the stellar performance of hometown hero and Austin Sealy Award winner, Glenn Kunst who established a new meet record of 4.65 metres in the boys' pole vault. Other records set at the 2017 Flow CARIFTA Games include: Jamaica's Roje Stona in the boys Under-20 discus (66.41m), Fiona Richards in the girls Under-20 discus (54.19m), Britany Anderson in the girls Under-18 100m hurdles (13.16 seconds), Sanique Walker in the girls Under-18 400m (58.95 seconds), Daniel Cope in the boys Under-18 shot put (18.17m) and discus (61.25m), Trinidad and Tobago's Tyrique Horsford in the boys Under-18 javelin (76.50m) and Jermaine Francis of St. Kitts & Nevis in the boys Under-20 high jump (2.22m). Jamaica's Under-18 boys dipped below the 40-second mark for the first time in CARIFTA Games history in the 4x100m relay for a new record of 39.97 seconds. Organisers of the Flow CARIFTA Games 2017 , including International Association of Athletic Federations (IAAF) and the North American, Central American and Caribbean Athletics Association ( NACAC ), have described the Games as "a big win for Caribbean sports fans, and a new standard for excellence in sports broadcasting across the region." More than 500,000 viewers in the Caribbean caught over 15 hours of high-definition coverage live from the Ergilio Hato Stadion, in Willemstad, Curacao. In addition, through partnership with US sports network Eleven Sports and online sports website Flotrack.org , more than 70 million households across North America had access to the Games. To reach an even wider global audience, Flow also partnered with www.dailymotion.com , who reported that more than fourteen thousand (14K) hours of live CARIFTA games coverage was viewed via the site over the three days. Story continues "A huge success is how the 2017 Flow CARIFTA Games will be remembered and because of Flow the world now has the chance to see the future of Caribbean athletics like they have never seen," said Victor Lopez, President of NACAC. "It is the first time that Curacao has hosted a sporting event of this size and the organisers and broadcasters did a fantastic job. All the feedback I've received is that people are pleased with what they saw. NACAC is especially proud of the invaluable partnership with Flow and Flow Sports for the sponsorship and broadcast of the Flow CARIFTA Games throughout the Caribbean and the world." Lord Sebastian Coe, President of the IAAF, also heaped praise on Flow for its coverage of the Games. "There is no Caribbean athlete that has graduated to the very highest level of sport that cannot look to the opportunities that the Flow CARIFTA Games has afforded them, and I want to congratulate NACAC for establishing its relationship with Flow," he said during a press conference on the opening day of the Games. "It is very important there is now a relationship that allows the Flow CARIFTA Games to be seen not just around the region, but across the globe on a number of platforms. This is the future of our sport." About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network - the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3132910 || What Snap’s Pop and Drop IPO Means For ETFs: When Snap, parent company of the Snapchat app, went public last week, it was the hottest initial public offering in more than two years.
Hoping to buy in to the latest social media trend, investors bought up Snap's stock hand over fist, propelling shares higher by 44% in their trading debut. At its peak, Snap was valued at more than $34 billion ($29.44/share) and was up more than 70% from its IPO price.
The flurry of trading in Snap shares was from investors directly buying into the stock. Most ETFs don't own Snap―at least not yet―and that's not necessarily a bad thing.
Pop And Drop
After peaking last Friday, shares of the company lost nearly a third of their value to briefly trade below $21. That's the lowest price for the stock since it began trading on the New York Stock Exchange, though still above the IPO price of $17 (large institutional investors that are clients of the underwriting banks are typically the only ones with access to shares at the IPO price).
If Wall Street analysts are right, the post-IPO swoon in Snap shares may not be over. According to CNBC, not a single analyst has a "buy" rating on the stock, while six have "sell" ratings on it amid concerns about valuations and slowing user growth.
On the other hand, the company's app boasts a massive 158 million daily active users, and grew revenue sevenfold from 2015 to 2016.
In essence, bulls hope that Snap becomes the next big social media powerhouse like Facebook, while bears pan it was the next Twitter, a hyped-up company that ends up disappointing investors.
No Guarantee Of Place In S&P 500
Given these mixed signals for Snap’s stock, perhaps it's fortunate that most ETFs won't buy in to the company until the dust settles. It will be at least six to 12 months before the committee for the S&P 500 considers including it for inclusion in the large-cap index.
That's just the minimum amount of time. It took even longer for other social media heavyweights to join the index. For Google and Facebook, it was 19 months before they were added to the S&P 500. Meanwhile, Twitter has never been included in the S&P 500 despite being larger than many of the index's other components, highlighting the fact that a big market value doesn't guarantee a spot in the venerable index.
That means it will be awhile―if ever―before investors see Snap as a holding for theSPDR S&P 500 ETF (SPY), theTechnology Select Sector SPDR Fund (XLK)and many other funds tied to the S&P 500.
Voting Rights Concerns
Adding another roadblock to Snap's journey into ETFs is resistance on the part of some investors to the company's voting structure. None of the Snap shares offered on the market last week have voting rights―an unprecedented situation for an IPO―which leaves firm control of the company in the hands of its two founders.
Balking at what it sees as an unfair situation, the Council of Institutional Investors has urged S&P Dow Jones Indices and MSCI to exclude Snap from their indices, according to a Reuters report. Both index providers are reviewing the situation, but a decision is not expected for at least a few months.
If S&P and MSCI don't include Snap in their indexes, that means the plethora of ETFs that track those indices won't include it either.
Prominent Place In Some ETF
With all that said, regardless of what S&P and MSCI decide, a spot for Snap is all but guaranteed in at least some ETFs. TheVanguard Total Stock Market Index Fund (VTI)is a fund that holds all U.S. small cap, midcap and large-cap stocks. It tracks a CRSP index that reconstitutes quarterly. That means Snap could be a VTI holding by June, according to current index rules for IPOs.
Of course, whether Snap ends up in an investor's broad stock market ETF is relatively inconsequential. Funds such as VTI are highly diversified, and one company—no matter how big or exciting it is—won't noticeable impact returns.
In contrast, for some niche ETFs, Snap has the potential to significantly impact returns. Take theGlobal X Social Media ETF (SOCL), with $84 million in assets. It tracks up to 50 social media companies from around the world, including Facebook, Tencent, Twitter, Yandex and NetEase.
YTD Return For SOCL
As one of the largest social media companies today, Snap has a prominent place in SOCL's portfolio. As of Wednesday, the company accounted for 4.4% of the fund, making it the 12th-largest holding.
Snap Included In IPO ETF
Another ETF where Snap will likely feature prominently is the $682 millionFirst Trust U.S. Equity Opportunities ETF (FPX). FPX buys stocks of companies that recently went public, hoping to capitalize on the rapid growth that new public companies often see.
FPX holds a basket of the 100 largest IPOs, with an aim to keep them in its portfolio for their first 1,000 trading days, or about four years. Current top holdings include Kraft Heinz, AbbVie, Shire, PayPal and Facebook.
Snap is already a holding for FPX, representing a tiny 0.28% of the fund's portfolio, according to the issuer website. That figure is likely to increase substantially at the next quarterly rebalancing later this month.
A smaller rival IPO product, the $14 millionRenaissance IPO ETF (IPO), doesn't include Snap as a component yet, but it's expected to become one at the quarterly rebalancing later in March. The ETF keeps its holdings for two years. Top components currently include First Data, TransUnion, Shopify, Univar and Blue Buffalo.
YTD Returns For FPX & IPO
Contact Sumit Roy atsroy@etf.com
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Permalink| © Copyright 2017ETF.com.All rights reserved || Tuesday Hot Reads: Dividends Pile Up With This High Yield ETF: Compiled by ETF.com Staff
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Permalink| © Copyright 2017ETF.com.All rights reserved || Bitcoin could be on the edge of a cliff: (A Bitcoin sign is seen in a window in TorontoThomson Reuters)
Let me be clear: I do not trade bitcoin, but I do write about it often.Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency.
Let's recap what has been going on in the bitcoin market so far this year.
Bitcoin rallied 120% in 2016 and has been thetop-performing currencyin each of the last two years. It opened 2017 by gaining 20% in the first week before crashing 35% on news thatChina was going to consider clamping downon trading.
Since then, bitcoin has ripped higher by more than 50% even in the face of several pieces of bad news.
First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). This was significant asnearly 100% of bitcoin's trading volumetakes places on China's exchanges.
Then, China's biggest exchanges said they were going toblock withdrawalsfrom trading accounts.
But bitcoin kept climbing higher.It put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on theWinklevoss twins' bitcoin exchange-traded fund(ETF). The SEC denied the ETF. There are two more SEC rulings on the way, the next being on March 30. Neither one is expected to pass.That ruling sent bitcoin crashing 16% lower, but again it was ultimately resilient in the face of bad news. Prices snapped back up in overnight trade and ended the following session above the previous day's opening price.
All of those ups and downs, though, have left the cryptocurrency in a precarious position. Take a look at a bitcoin chart:
(Investing.com)
The chart pattern appears to be putting in a classicdouble toppattern. In very simple terms, that's describing those two peaks you see highlighted above.
What the double top does, is give us a clue to where traders will go from buying to selling bitcoin. In order for this pattern to be activated, bitcoin would have to close below the neckline, which appears near the $1,100 level.
And while that hasn't happened yet, there is another troubling sign that's popping up on the charts.
(bitcoinity.org)
Bitcoin volume exploded into the end of 2016, but has vanished in 2017. This means that as the price was going up, the drop in volume didn't support the price trend. In other words, there wasn't any conviction behind the move. It appears that the transaction fees implemented by China's biggest exchanges have caused participation to dry up.
So where is bitcoin headed?
If the cryptocurrency falls below the neckline drawn on the first chart, the charts suggest a trip to the $900 area is likely. That's $300 a coin less than it's current level, or a 25% drop.
NOW WATCH:7 mega-billionaires who made a fortune last year
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• Bitcoin makes a big comeback || 3 ETFs For Surprise Drop In The Dollar: One of the most prominent consensus calls heading into 2017 was that the U.S. dollar would head higher during the year.
Wall Street analysts were nearly unanimous in their expectation that a Donald Trump presidency would spell only good news for the greenback thanks to stronger growth expectations and higher interest rates.
As is often the case, the consensus expectation has proven to be off the mark, at least during the first part of the year. After peaking at a 14-year high late last year, the U.S. Dollar Index has steadily dropped during the first quarter of 2017, and was last trading down 3% year-to-date.
Last week's failure by Republicans to pass a health care bill through the House of Representatives was the latest setback for the buck, which had rallied four-straight years, measured by the popular U.S. Dollar Index.
Under The Dollar Index Hood
That index is heavily influenced by the euro-dollar (EUR/USD) foreign exchange rate, which has a 57.6% weighting in the index basket. That's followed by the dollar-yen (USD/JPY) at 13.6%; the pound-dollar (GBP/USD) at 11.9%; and a few others with smaller weights.
[{"Currency": "Euro (EUR)", "Weight": "57.6%"}, {"Currency": "Japanese Yen (JPY)", "Weight": "13.6%"}, {"Currency": "British Pound (GBP)", "Weight": "11.9%"}, {"Currency": "Canadian Dollar (CAD)", "Weight": "9.1%"}, {"Currency": "Swedish Krona (SEK)", "Weight": "4.2%"}, {"Currency": "Swiss Franc (CHF)", "Weight": "3.5%"}]
Of course, there are plenty of other currency pairs outside of those in the U.S. Dollar Index basket. The Mexican peso, for example, is up nearly 10% against the greenback after falling to a record low around the time of Trump's inauguration in January.
It could be that the peso is rallying simply because it fell too far and too fast. Or it could be that Trump's policies haven't proven to be as detrimental to the Mexican economy as feared. In any case, the point is that currencies across the board are climbing against the dollar, an unexpected development that investors should pay attention to.
Here are three ETFs that are poised to benefit if the dollar continues to slide:
WisdomTree Emerging Currency Fund (CEW)
TheWisdomTree Emerging Currency Fund (CEW)provides exposure to an equal-weighted basket of 15 emerging market currencies and their money market rates. If the dollar decline goes on, emerging market currencies are likely to be some of the biggest beneficiaries.
CEW's basket includes the aforementioned Mexican peso, the Brazilian real, the Indian rupee and the Chinese yuan, among others.
CEW invests in forward contracts and doesn't pay regular dividends, but it has a chunky implied yield of 4.8%. Year-to-date, the fund is up 5.2% after returning 4.1% last year.
YTD Return For CEW, US Dollar Index
SPDR Gold Trust (GLD)
Widely regarded as a dollar hedge, gold has delivered on its promise this year. TheSPDR Gold Trust (GLD)is up 9% year-to-date, and stands at its highest levels of the year just as the dollar drops to its lowest levels of the year.
That's no coincidence. The 120-day correlation between gold prices and the U.S. Dollar Index is about -0.62, the tightest level since 2012 (a correlation of +1 means the two always move in the same direction, while a correlation of -1 means the two always move in opposite directions).
If this correlation holds, GLD will continue to be one of the best anti-dollar ETFs available for investors.
YTD Return For GLD, US Dollar Index
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC)
TheVanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC)is the second-largest emerging market bond ETF on the market, with $3 billion in assets under management, but it's often been overshadowed by the $9.8 billioniShares JP Morgan USD Emerging Markets Bond ETF (EMB).
If the dollar keeps dropping, that could change. The main difference between EMLC and EMB is that the latter invests in dollar-denominated emerging market bonds, while the former invests in local-currency emerging market bonds.
When the dollar is rising―as it's mostly done during the last few years―EMB will have superior returns to EMLC as depreciating emerging market currencies take a bite out of returns for the local-currency fund.
But if the dollar drops, the opposite will be the case. Appreciating emerging market currencies will add to the returns for EMLC. That's what's happened so far this year, with EMLC up 6.8%, compared to 4% for EMB. If the downturn in the greenback has more room to run, expect more outperformance for EMLC.
YTD Returns For EMB, EMLC
Contact Sumit Roy atsroy@etf.com
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Permalink| © Copyright 2017ETF.com.All rights reserved || STOCKS FALL, SNAPCHAT SURGES: Here's what you need to know: (Hollis Johnson)
The major US equity indexes closed lower on Thursday, retreating after logging thestrongest performanceof 2017 on Wednesday.
Here's the scoreboard:
• Dow:21,002.97, -112.58, (-0.53%)
• S&P 500:2,381.92, -14.04, (-0.59%)
• Nasdaq:5,861.22, -42.81, (-0.73%)
• US 10-year yield:2.491%, +0.029
1. Snap surged in its trading debut. The parent company of Snapchatopened for trading at $24, up about 41% from the IPO price of $17. At the opening price, Snap had a valuation of about $33 billion,surpassing stalwartslike Viacom and HP.
2. There's already a "sell" rating."Investors in Snap will be exposed to an upstart facing aggressive competition from much larger companies, with a core user base that is not growing by much and which is only relatively elusive," said Pivotal Research Group'sBrian Wieser. He has a $10 price target — 58% lower than the opening price.
3. Initial jobless claims are at the lowest level since 1973.Claims,which count the number of people who applied for unemployment insurance for the first time in the past week, dropped by more than expected to 223,000.
4. Bitcoin climbed above gold for the first time.The cryptocurrency rose to $1,241.30 around 10:20 a.m. ET. Meanwhile, gold was $1,241.25 at the time.
5. Caterpillar facilities in Illinois were searched by law enforcement authorities with a warrant.The Peoria Journal Star newspaper reported that people with Internal Revenue Service jackets were seen entering the headquarters. Caterpillar shares fell 4%.
6. Boeing is planning 1,500 voluntary job cuts.Employees were notified this week that the International Association of Machinists and Aerospace Workers union said it didn't know if this metBoeing's target or could still be followed by compulsory layoffs, theWSJ reported.
Additionally:
This throwback to Facebook's IPO is one reason some investors are nervous about Snapchat
Another warning sign is popping up in the stock market
The Fed could be on the verge of making a big mistake
A startup led by one of the most senior women on Wall Street decided to troll Trump
Twitter is loving Democratic lawmakers' scavenger hunt around the Capitol for the secret room holding the GOP's Obamacare replacement bill
JOSH BROWN: Here's why I'm not buying Snapchat
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[Random Sample of Social Media Buzz (last 60 days)]
1 KOBO = 0.00000646 BTC
= 0.0067 USD
= 2.1038 NGN
= 0.0854 ZAR
= 0.6871 KES
#Kobocoin 2017-03-28 06:00 || #Bitcoin -0.48%
Ultima: R$ 3523.68 Alta: R$ 3579.00 Baixa: R$ 3427.04
Fonte: Foxbit || #ビットコイン
#AI
#モデリング
9:00~10:00時点のBitcoin市場はしっかりだったのかな。
11:00は反騰?
【AIによるコメントです:テスト中(勉強中です)@パターンA】 || Pay 0.1 BTC today, get 10.00 BTC in 20 hours,trading bitcoin for profit . http://ow.ly/w53I30ag4p8 || 1 BTC Price: BTC-e 1176.303 USD Bitstamp 1194.12 USD Coinbase 1202.00 USD #btc #bitcoin 2017-03-10 04:30 pic.twitter.com/FhsHqRPnQP || One Bitcoin now worth $1276.13@bitstamp. High $1298.00. Low $1239.38. Market Cap $20.665 Billion #bitcoin || 비티시(BTC)플러드(FL00D)로 비트코인 기부하기 http://blog.naver.com/sun1014152/220990488187 … || El #ICO de #WeTrust empieza en dos horas. (7:00 PM EST/12:00 AM UTC) $ETC $BTC https://steemit.com/spanish/@criptomonedastv/detalles-de-la-oferta-inicial-de-monedas-wetrust-io-en-espanol … || $1161.21 at 07:01 UTC [24h Range: $1111.00 - $1164.50 Volume: 7251 BTC] || One Bitcoin now worth $985.73@bitstamp. High $997.00. Low $937.52. Market Cap $16.007 Billion #bitcoin
|
Trend: up || Prices: 1316.48, 1321.79, 1347.89, 1421.60, 1452.82, 1490.09, 1537.67, 1555.45, 1578.80, 1596.71
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Crypto Bulls and Bears Wrestle on What Comes Next for the Bitcoin Price: ByCCN: Many in the crypto community remained calm and banded together despite the steep drop in thebitcoin priceon the heels of an otherwise incredibly bullish month.
Bitcoin’s value was slashed by approximately $21 billion in the last 24 hours, with the BTC price currently holding above the $7,000 threshold. The declines were traced back to a mega sell order on Bitstamp exchange, either creating an opportunity for investors who missed the previous run or providing a warning before the other shoe drops.
Of course, crypto bulls and bears disagree about what comes next.
Crypto trader DonAlt set the tone on Twitter, making it clear the direction in which he believes the bitcoin price is headed: up to $10,000. Blockchain pioneerVinny Lingham, who only recently conceded that bitcoin had bottomed, seemingly has not wavered from his new bullish take.
And while the CNBC trading desk isn’t always where you might turn for crypto trading analysis, cooler heads appear to have prevailed this time around. They provided technical analysis and were encouraged by the “trend line” that’s been in place since the April 4 rally.Tim Seymourstated seemed to suggest that bitcoin was due for a cooling off.
“You actually still are above that trend line, which probably takes you up to around $6,800. You got to a 95 nine-day RSI. Even for bitcoin, that was extreme.” || Don’t Buy the Bitcoin Rally Hype, Says Gold Bull: This article was originally published onETFTrends.com.
Once Bitcoin spiked liked energy levels after a can of Red Bull near the end of 2017, it also came crashing down in 2018, but 2019 is seeing the leading cryptocurrency rise over 150 percent to its current price of just under $8,700. However, don't believe the hype--says gold bull Peter Schiff of Euro Pacific Asset management .
The dream of crytocurrency billionaires and Italian supercars is as such--pretty soon, people will wake up, according to Schiff.
“A lot of people got suckered into this pump-and-dump scheme because they heard all the stories about young kids taking their Bar Mitzvah money into bitcoin and bought a Lambo,"saidSchiff at the 2019 SALT Conference. "Pretty soon, it is going to be stories about people who lost their life savings because they put real money instead of play money into bitcoin.”
Bitcoin purveyors have often referred to the cryptocurrency as the new replacement of gold. In Schiff's view, that's not going to happen.
“Central banks are buying gold; they are not buying bitcoin because gold is money,” said Schiff.
“We are in the biggest bubbles that the central banks have ever blown,” he added. “And when it gets popped, the 2008 economic crisis will appear like a Sunday school picnic. Then, people will figure out why gold is important.”
For the Gold Bulls
For those who share the same views as Schiff, bulls can look to gold-backed ETFs like theSPDR Gold Shares (GLD) andSPDR Gold MiniShares (GLDM) , while short-term traders can also play the gold market through miners via theVanEck Vectors Gold Miners (GDX) ,Direxion Daily Jr Gold Miners Bull 3X ETF (JNUG)and theDirexion Daily Gold Miners Bull 3X ETF (NUGT).
For gold as well as other exposure to commodities for diversification, investors can consider funds like theVanEck Vectors ® Real Asset Allocation ETF (RAAX) . RAAX uses a data-driven, rules-based process that leverages over 50 indicators, including technical, macroeconomic and fundamental, commodity price, and sentiment. Using this data, it allocates across 12 individual real asset segments in five broad real asset sectors.
The aforementioned indicators identify the segments with positive expected returns. Using correlation and volatility, an optimization process determines the weight to these segments with the goal of creating a portfolio with maximum diversification while at the same time, reducing risk.
One of the allocations the fund added as of late was opportunities in gold. With the latest announcement by the Federal Reserve that it would continue to keep interest rates in check, this could mean for strength for gold if the dollar weakens.
One for the Gold Bears
For the bears, they can look to theDirexion Daily Gold Miners Bear 2x Shares (DUST) . DUST seeks daily investment results before fees and expenses of 300 percent of the inverse of the daily performance of the NYSE Arca Gold Miners Index. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse or short leveraged exposure to the index equal to at least 80% of the fund's net assets.
The index is a modified market capitalization weighted index comprised of publicly traded companies that operate globally in both developed and emerging markets, and are involved primarily in mining for gold and, to a lesser extent, in mining for silver.
Currently, prices for gold could on the brink of fragility,according tosome analysts. In particular, the precious metal is having the hardest time trying to break through the $1,300 price ceiling.
“Gold inability to break above $1,300 is an indication that the market is really fragile and I think investors should expect to see lower prices in the near-term,” said Fawad Razaqzada, technical analyst at City Index. “I think you have to continue to play gold to the downside as long as prices are unable to hold sustainable gains above $1,300. On the weekly chart I don’t see any reason to be bullish on gold anytime soon.”
For more market trends, visitETF Trends.
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READ MORE AT ETFTRENDS.COM > || India Shuns Bitcoin Legalization Again, Excludes Crypto Startups from Fintech Sandbox: India's central bank gives the cold shoulder to the crypto sector, again. | Source: Shutterstock By CCN.com : The Reserve Bank of India (RBI) has published its official document on a draft framework for fintech regulatory sandbox entitled “Draft Enabling Framework for Regulatory Sandbox.” The document explicitly excluded crypto assets like bitcoin, demonstrating a lack of intent to regulate the local crypto market. “The entities may not be suitable for RS (regulatory sandbox) if the proposed financial service is similar to those that are already being offered in India unless the applicants can show that either a different technology is being gainfully applied or the same technology is being applied in a more efficient and effective manner,” the document read , listing crypto assets, crypto trading, and ICOs as excluded areas. India’s central bank excludes the crypto sector from its sandbox | Source: RBI The draft framework essentially eliminates crypto-related businesses and bitcoin exchanges from the fintech market, which the government of India has expressed its intent on supporting. Will Bitcoin Legalization in India Ever Happen? The current stance of India on bitcoin and crypto regulation is unexpected given that many major governments in Asia including the likes of Japan, South Korea, Singapore, Hong Kong, and others have taken the approach of regulating the crypto market. The central bank of India has prohibited local banks from working with cryptocurrency exchanges, eliminating fiat-to-crypto trading in the local market. The policy of the RBI has left the overwhelming majority of crypto businesses in India in disarray, most of the entities involved with crypto either shutting down their services or moving out of the crypto market of India. Read the full story on CCN.com . || Trade War May Be A Boon For Gold Bugs: This article was originally published onETFTrends.com.
Against the current backdrop of the U.S. trade war with China, and the fear and uncertainty that accompany the rampant volatility and the worst May selloff for stocks in 50 years now, gold prices will continue to rise this year, according to one financial executive.
Neil Pereira, principal investment officer of the International Financial Corporation (IFC), shared his thoughts on the precious metals landscape with Kitco News on the sidelines of the Mines and Money conference in New York.
According to Kitco, “In the last year, we saw gold prices fall,” he noted. “But in the last quarter of this year, we’ve seen a big increase and I think that’s partly driven by expectations of reduced long-term interest rates.”
Gold is currently up about 1% on the day, and Pereira’s comments come a few days after Federal Reserve Bank President, James Bullard, announced that a rate cut was appearing as a more and more attractive option, as it could potentially resolve issues of inflation and gain credibility for US markets.
However, interest rates are not the only factor affecting gold prices, according to Pereira. “We’ve seen investors going back into the ETFs, we’ve seen central banks in China, Russia, Turkey, and India all increasing their purchases,” he explained.
“Over the course of the next year, we’d expect to see gold continue to rise,” Pereira added. Bounded by supply and demand constraints, he noted that although the market has been in balance for some time, the future includes long-term supply increases.
Although theSPDR Gold Shares (GLD),SPDR Gold MiniShares (GLDM) and other bullion-backed exchange traded products recently showed some signs of life, gold ETFs need to close higher in May or risk extending the monthly losing streak to four months.
“At Friday’s close of $120.65, GLD was down 0.5% on a month-to-date basis. It’s still early innings, but another negative return in May would mark GLD’s fourth monthly loss in a row — its longest losing streak since the six-month slump that kicked off last April,”according to Schaeffer’s Investment Research.
“From a seasonality perspective, the odds are stacked against GLD. Over the past decade, GLD has closed the month of May on positive ground only 30% of the time, and its average return for the month is a decline of 1.10%,” reports Schaeffer’s. “Based on April’s close, another ‘average’ May for GLD would place the shares around $119.87 by month’s end — which would mark its first monthly close below $120 since last November, incidentally.”
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READ MORE AT ETFTRENDS.COM > || Why the Bitcoin price defines the cryptocurrency market: Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings, despite thousands of competitors being created over the years. The Bitcoin price defines all other cryptocurrencies. Indeed, altcoins are not only priced in dollar terms, but also in terms of satoshis – their worth in Bitcoin. But why is it that the Bitcoin price defines the cryptocurrency market? Bitcoin price dominance When looking at the total market cap of all cryptocurrencies, Bitcoin has always maintained its dominance. While this dominance has shrunk in recent years, even to this day, and despite challenges from all corners of the market, Bitcoin’s dominance of the market remains above 50%. When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. There may be some lag in-between, but the coupling of Bitcoin to altcoins is one that is yet to be truly broken. The reasons for Bitcoin’s dominance are numerous. To begin with, Bitcoin has had the first-mover advantage over its competitors. Thanks to this, even people who are not interested in cryptocurrency have still usually heard of Bitcoin. This makes it all the more likely that the first cryptocurrency that newcomers purchase will be Bitcoin as well. On top of this, despite efforts from a variety of communities, there hasn’t been any conclusive evidence that there is a better cryptocurrency out there other than Bitcoin. People might point to Bitcoin’s slower transaction speed or wasteful Proof-of-Work mechanism, but the core tenants of Bitcoin and cryptocurrencies – namely decentralisation and global money – are still prevalent today. Practically all cryptocurrencies remain untested and have complex goals. Ethereum and other smart contract platforms have yet to see fully successful projects built on top and are still very much experimental. Story continues Arguments still continue to this day over the possible use cases of blockchain. They are generally split into two camps: those who believe that a blockchain has a fairly limited use case, in essence only useful for monetary transfer such as Bitcoin, and others who claim that blockchain will be a revolutionary piece of technology akin to the internet. Bitcoin has through the years though shown that not only is there a market for itself, but that it provides real-world value. Competitors through history The biggest challenger to Bitcoin’s dominance has been Ethereum. The concept that Bitcoin might lose its throne became known as “The Flippening ” during 2017 when the dominance of Bitcoin looked set for a challenge. There were a couple of reasons for this challenge appearing. Firstly, the hype surrounding Ethereum gave the cryptocurrency huge momentum. The ICO craze of 2017 was driving the price of Ethereum ever higher. At the same time, Bitcoin was in the midst of its scaling wars. With a bloated blockchain and no sign of peace, Ethereum was able to make substantial ground on Bitcoin’s throne. Despite “The Flippening” generating plenty of interest, it never actually materialised. Once Bitcoin resolved the scaling issues that were plaguing the community, its dominance soon strengthened. However, it hasn’t reached the dominance it once had. Scaling issues are still a problem for Bitcoin, and these issues are affecting the Ethereum blockchain as well. Updates are needed for Ethereum to deal with what is essentially a bloated blockchain. Roger Ver has long described Bitcoin Cash as the true Bitcoin. Despite his commitment, the price of Bitcoin Cash has never come close to flippening Bitcoin. But Ver still maintains that Bitcoin Cash will one day dominate the scene. It should be noted that Ver also once said he anticipates Ethereum overtaking the Bitcoin price. Ver believes that Bitcoin’s dominance has dropped due to the issues of scaling and the price of Bitcoin transactions rising. This is why he believes people have started to investigate altcoins. Recent price action has shown Bitcoin dominating altcoins, pushing their price further down. The last altseason peaked when Bitcoin had topped out and retail buyers flooded into altcoins to try and maximise their profit. Many bagholders have since been left with some altcoins looking dead in the water. The issue for competitors of Bitcoin is that if there is interesting technology on their cryptocurrency, then Bitcoin can look to incorporate the code into Bitcoin. Therefore, Bitcoin can evolve to compete, and it would take something extraordinary for another cryptocurrency to displace Bitcoin. Conclusion Bitcoin is one of the only cryptocurrencies to provide a real-world use case and utility. Many other cryptocurrencies are more akin to experiments taking place on a blockchain. For the foreseeable future, expect to see Bitcoin as the dominant market in the cryptocurrency industry. Should interesting developments arrive on altcoins, the likelihood is that Bitcoin will evolve with the times anyway as it has done so in the past. The post Why the Bitcoin price defines the cryptocurrency market appeared first on Coin Rivet . || Here’s How to Invest in the Cryptocurrency Trading Services Boom: Cryptocurrencies are staging a major come-back. For example, cryptocurrency Bitcoin bottomed out at around $3,360 at the start of the year and traded recently at $5,700. Now, with reports that Fidelity will roll out a crypto trading service within a few weeks, bet on prices firming up. bitcoin Source: Shutterstock Fidelity is reportedly set to launch cryptocurrency trading service soon . A spokeswoman said that “We currently have a select set of clients we’re supporting on our platform.” Fidelity will focus on the Bitcoin cryptocurrency and will target institutional, not retail, customers. This is unfortunate for the crypto market because it would exclude two other major cryptocurrencies: Ethereum and Litecoin. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Similar to Bitcoin, Ethereum bottomed at around $154 and closed recently at $173. Litecoin traded as low as $31 in January and topped out at almost $92 on April 6. It settled at around $75 on May 6. 7 Dangerous Dividend Stocks to Stay Far Away From Bitcoin Gains Legitimacy The cryptocurrency market still struggles from getting taken seriously for a good reason. Fraud and theft are the chief problems the currency faces. Still, those caught stealing the currency are getting charged and indicted. For example, the man who stole $9 million was indicted in Israel. The bad news is that crypto theft is still growing at an alarming rate. Losses grew 70% from 2018 to $1.2 billion. This suggests that Fidelity will have to limit the growth of its service and tread carefully. It must prioritize security and threat detection first and foremost over everything else. Investing in Bitcoin Rebound Although investors will not have a chance to participate in Fidelity’s entry in the crypto market, they could buy Grayscale Bitcoin Trust (OTC: GBTC ) instead. Investors could buy the stock on the open market but should be aware of two things. First, the holding has a 2% annual fee. And second, it trades at a premium to the underlying Bitcoin. Investors could do more research to learn how to buy Bitcoin directly from exchanges. That would remove the unnecessary costs associated with gaining exposure in the cryptocurrency. Story continues Despite my concerns for GBTC, the stock is still a good trading vehicle for speculative investors. If Bitcoin rises, GBTC will go up, too. Likewise, if Bitcoin falls, GBTC falls. The stock has sufficient liquidity to allow for quick trades. Trade Overstock Holding shares of Overstock.com (NASDAQ: OSTK ) is another way to indirectly play the Bitcoin boom. Per Overstock’s website: “We partnered with Coinbase, a Bitcoin platform, to enable Bitcoin as a form of payment on Overstock .com…Unfortunately, Bitcoin payments are not yet accepted through our Mobile website. However, the Pay with Bitcoin option is now available for Overstock international customers.” Unfortunately, Overstock failed to secure $100 million in a fund raise in April . GSR Capital, a Chinese firm, does not have a definitive deal as the firm carries out its due diligence first. If Overstock succeeds in getting the investment it needs for the Bitcoin subsidiary, its stock could attract crypto investors. The stock is in a downtrend, trading recently below $13 and down 27% in the last quarter. Although its underlying business lost money last year, management is now aiming to generate $10 million in operating cash flow in 2019. Having Bitcoin prices perk up and getting its subsidiary funded will help the stock move higher. On Wall Street, only one analyst covering OSTK stock has a $51 price target . Shares trade at three times below that level. So, even with the surging Bitcoin prices, Overstock shares are unlikely to trade at that level. Your Takeaway Bitcoin is a volatile asset class that is no different from other commodities. Oil, gas, and gold (NYSE: GLD ) are also commodities whose prices fluctuate. Investors with the appetite to trade the price movements in Bitcoin could make plenty of profits. Timing the entry price on the drop and the exit when the cryptocurrency surges are the harder aspects of the trade. Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace 2 Toxic Pot Stocks You Should Avoid 7 Dangerous Dividend Stocks to Stay Far Away From 7 Tips for New Investors Young and Old 10 Great Stocks to Buy on Dips Compare Brokers The post Here’s How to Invest in the Cryptocurrency Trading Services Boom appeared first on InvestorPlace . || Tabloid Columnist Wants Pal Donald Trump to Investigate ‘Bitcoin Manipulation Madness’: ByCCN: Barely a week after New York Post columnist John Crudele crudely predicted that Bitcoin willsoon be worth zero, the tabloid journalist has once again muddied the waters by calling on governments to launch a ‘massive investigation’ on ‘Bitcoin manipulation madness’.
Specifically, Crudele called on China, the EU and the US to probe those responsible for the ‘manipulation of bitcoin’s price’. Citing ties to Donald Trump, the tabloid journalist urged the U.S. president to order the investigation in his Wednesday column:
And since I happen to know Donald Trump and I also happen to know that the president reads my column regularly, that’s what I’m suggesting right now. No need to even make a phone call.
It is not clear what prompted the tabloid columnist to call for the investigation into the ‘manipulation of bitcoin’s price’. However, there have beenclaims, sometimes theories fronted by crypto-skeptics, decrying the existence of price manipulation in the cryptocurrency markets.
In Crudele’s view, the investigations into the bitcoin market manipulation should be launched right away. This is before ‘before gullible investors take another hit like they did when bitcoin fell from $20,000’.
Crudele, whose favorite bitcoin slur appears to be ‘confidence game’, also called the cryptocurrency a ‘con’ that’s ‘worth nothing’.
Read the full story on CCN.com. || Tilray Stock Keeps Its Eyes on the Future: Tilray (NASDAQ: TLRY ) stock, like other Canadian marijuana stocks, raised a lot of cash in 2018 and spawned a lot of hype. Now we will see if that cash can build a sustainable business. TLRY Stock: Tilray Stock Keeps Its Eyes on the Future Source: Shutterstock Tilray got a slight bump with its recent earnings announcement — a loss of $30.3 million, 32 cents fully diluted, on revenue of $23 million. The loss was excused by revenue being up 195% from the previous year. Tilray was finally able to do what it came to the market to do — sell marijuana to willing adults. The company brought in nearly $7.9 million from pot sales, and nearly $5.6 million from edibles, as Canadians started enjoying the drug legally. InvestorPlace - Stock Market News, Stock Advice & Trading Tips But this doesn’t make Tilray a great investment . We don’t yet know what Tilray can be. The Hype Machine for TLRY Stock Last year, when Tilray and other marijuana stocks were raising money and selling dreams of pot billions, I called it Bitcoin, in that its value had no relationship to reality. 7 Stocks to Buy for June The company went public last July with a first trade of $23.05. It was due to open May 29 at about $42.50. This means early investors have doubled their money, but those who bought the hype last fall, just like Bitcoin investors in late 2017, are out of the money. The stock peaked at $300 but traded over $100 regularly until December. None of this has any relation to market reality. Even if Tilray hits projections of $414 million in sales for all of 2020, you’re still paying 10 times book at its current market cap of $4.3 billion. Tilray has also spent the last year supplying itself with sober executives from Goldman Sachs (NYSE: GS ), Coca-Cola (NYSE: KO ), Starbucks (NASDAQ: SBUX ) and Diageo (NYSE: DEO ). It also closed a partnership with Novartis (NYSE: NVS ) that the Novartis CEO is tired of talking about . The hype machine did its job, but the get-rich-quick crowd has already sold. If you’re going to make money in Tilray, it will be from real operations. Tilray and the Pot Shortage Canada, which began allowing some legal cannabis sales late in 2018, has about 37 million people. Compare that to California, which has nearly 40 million. That’s a lot of market to supply, and most suppliers have had difficulty . How long the shortage lasts is a subject for debate , with some saying it’s already ending . In the short run, Tilray has been focused on supply, and because it had supply it nearly doubled revenue estimates for the first quarter . Now Tilray is looking past the short-term shortage and seeking to play in as many aspects of legal marijuana as it can. Story continues As our Vince Martin writes , Tilray is focusing on branded products — on oils and edibles, flavorings, additives and drugs. This will let it take advantage of a supply glut whenever that happens, and it’s already starting in some markets . The Bottom Line The fortunes of Tilray balance largely on its controlling shareholder, Privateer Holdings of Seattle (headed by Tilray CEO Brendan Kennedy), and its 78% stake . they have said they won’t sell any of the stock in the first half of the year . It makes sense for those who got in with pennies on the dollar to get their investment back. But other investors are right to ask whether Privateer is in this for the long term. I think they are. Tilray had over $500 million in cash on its books after a convertible debt offering late last year , enough to fund its strategy shift away from the Canadian smoking market . If you believe in a long-term future for marijuana stocks, Tilray makes sense. Just wait until the stock overhang and the hype both clear before you seek an entry point. Dana Blankenhorn is a financial and technology journalist. He is the author of the mystery thriller, The Reluctant Detective Finds Her Family , available now at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn . As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace 4 Top American Penny Pot Stocks (Buy Before June 21) 7 Stocks to Buy for June 7 Stocks to Buy From One of America’s Best Pension Funds 4 Consumer Staples Stocks for Both Income and Growth Compare Brokers The post Tilray Stock Keeps Its Eyes on the Future appeared first on InvestorPlace . View comments || Bitcoin 2019 Gears Up to Bring Bitcoin Back Into the Conference Spotlight: bitcoin2019conference-update.png Were a month and some change away from Bitcoin 2019 : a conference made by Bitcoiners, for Bitcoiners. The conference will rekindle the same spirit of a similar Bitcoin conference that ended five years ago. Inspired by this earlier series, Bitcoin 2019 is rooted in the same ethos that has made Bitcoin the tried and true paragon of the crypto economy since its inception in 2009. With discussions ranging from technical, economic, political and social topics, the conference features notable entrepreneurs like ShapeShift CEO Erik Voorhees, Bitmain co-founder Jihan Wu and Max Keiser. It will also share insights from vocal industry leaders like Morgan Creek Digital co-founder and partner Anthony Pompliano, Blockchain Capital Bitcoin Fellow Jimmy Song and Adamant Capital co-founder Tuur Demeester. Also of note are ARK CEO Cathie Wood, who became the first public fund manager to invest in Bitcoin in 2015, and BitPay CEO Stephen Pair. Its time to lay a vision for Bitcoin that compels the greatest minds in the digital asset space to return to Bitcoin and give it the attention it deserves. This is exactly the thinking behind Bitcoin 2019, a new peer-to-peer conference that will bring together Bitcoin enthusiasts from around the world to discuss how we can continue to build and nourish the worlds best cryptocurrency, David Bailey, the CEO of the conferences organizer, told Bitcoin Magazine . True to Bitcoins humble beginnings, Bitcoin 2019 will be a watering hole for industry big names and common enthusiasts alike to discuss all topics relating to the worlds first cryptocurrency to expand their understanding and knowledge set. Alongside keynotes, presentations and panels, the three-story venue will have plenty of space for networking and furnish breakout stages for close-quarters discussion and even technical workshops. It will also include an event floor for builders to showcase bleeding-edge tech and hardware, and on the other side of the coin, an installation room for crypto artists like the renowned cryptograffiti . Story continues Bitcoin 2019 is specifically curated with attendee participation in mind, making the most technical of concepts as approachable as possible. The best way to illustrate Bitcoins many breakthroughs is to showcase them firsthand, Bailey said. Bitcoin Games The conference will also see the culmination of a worldwide hackathon. The Bitcoin Games, as they are called, will be an online competition that will take place in the weeks leading up to the conference, with the winners and awards to be doled out during the conference itself. This international and virtual competition will motivate developers to push the boundaries of the technology to create solutions and applications for the next wave of adoption. Bitcoin 2019 is about realigning our collective focus toward what really matters innovation, community, inclusivity and memes. Its about bringing together the industry to build relationships as well as partnerships. Its about rekindling the excitement around the future of how value is stored and transacted. Its about playing around with magical internet money until you stumble upon something so transformative you cant take your mind off it, Bailey concluded. Interested? You can get your tickets here for the manageable price of $200 (just a shade higher than bitcoins price point before the bull market in 2013). Bitcoin Magazine is the lead media partner of Bitcoin 2019. Bitcoin 2019 is presented by BTC Inc, the parent company of Bitcoin Magazine. This article originally appeared on Bitcoin Magazine . || US Copyright Office: No ‘Truth’ Behind Craig Wright’s Bitcoin Satoshi Claim: ByCCN: Australian entrepreneur Craig Wright shocked the cryptocurrency community on Tuesday by filing copyright registrations over the Bitcoin whitepaper and early Bitcoin code. In a press release, Wright claimed the US Copyright Office had officially “recognized” his role as the true bitcoin creator.
The Copyright Office hit back last night with an official statement debunking the claims. In it, they explain that a copyright registration is not a “determination of truth.” It simply represents a claim over works. The Copyright Officedoes investigate the validity of those claims.
“As a general rule, when the Copyright Office receives an application for registration, the claimant certifies as to the truth of the statements made in the submitted materials. The Copyright Office does not investigate the truth of any statement made.”
As one lawyer engaged in the crypto space, Jake Chervinsky, said, Craig Wright’s copyright registration is “meaningless theater.”
As CCN alluded to in ourinitial reporting, andsubsequent commentary, Craig Wright’s copyright registration is not proof of ownership. It is not evidence he is Satoshi Nakamoto, nor that he wrote the bitcoin whitepaper.
As the Copyright Office explains:
Read the full story on CCN.com.
[Random Sample of Social Media Buzz (last 60 days)]
Precio: $171,500.00
Fuente: @Bitso #Bitso #BTCMXN $btc
Hora: 2019-06-02 16:30:01 (GMT-6) || .@winklevoss and @tylerwinklevoss will be the ultimate winners in this saga of betrayal and 'character assassination'. The Winklevi and #bitcoin will reign victorious!
#DeleteFacebook
#DeleteShitbook
#facebookshitcoin
https://t.co/UM8J31IyYY || Bitcoin Faces Price Pullback as Signs of Longer-Term Bull Exhaustion Emerge - #CoinDesk https://t.co/ra8I9RzpTR @godbole17 https://t.co/1CUrCGYJ9i || coincheck取引所での価格は 799675円/BTCです。短時間の統計では下がっているように見えます。詳しくは https://t.co/YJ0LPqEup8 || #18May Un usuario anónimo publicó a través de #RedesSociales un mensaje reclamando la propiedad de la dirección, acompañado de la clave privada de la misma para demostrar la veracidad de sus palabras👀🗞🆕 #SatoshiNakamoto #Bitcoin #Faketoshi
https://t.co/UWNVQYYMmT || Fintech Company Launches Crypto Exchange Platform Integrated Into Social Investing Network https://t.co/oWThcP6nKY #XBT #BTC #Bitcoin || BTC証拠金抜いてるから全然やってないけど普通に95万目指しそう。 || I use WazirX Bitcoin exchange and love it! They're giving away 200 WRX Coins free on signing up using this link & first trade. Hurry up! https://t.co/G7nCZyDLvL || @GQ_Germany @rezomusik PS: We are pulling down #BTC to 0!!! Buy #DOGE! || https://t.co/lcroqzKrWU $LTC #BTC $BTC #XVG $XVG #TNB $TNB #ENJ $ENJ #APPC $APPC #RCN $RCN #RLC $RLC #XBT $XBT #EOS $EOS #MTL $MTL #WABI $WABI #VIA $VIA #NPXS $NPXS #DLT $DLT #TRX $TRX #ZEN $ZEN #BINANCE #bitcoin #bitmex
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Trend: up || Prices: 8000.33, 7927.71, 8145.86, 8230.92, 8693.83, 8838.38, 8994.49, 9320.35, 9081.76, 9273.52
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-03-14]
BTC Price: 3924.37, BTC RSI: 56.20
Gold Price: 1293.40, Gold RSI: 45.87
Oil Price: 58.61, Oil RSI: 65.54
[Random Sample of News (last 60 days)]
Crypto Bear Market Affecting Venture Capital Valuations: Venture capital (VC) valuations have been deeply affected by the cryptocurrency bear market, says Jalak Jobanputra, founding partner of Future Perfect Ventures. Jobanputra commented on the current state of venture capital in the crypto space in an interview with Fortunes’ Balancing the Ledger on Feb. 11. When asked whether there is a trend of discounted venture evaluations across the digital currency space, Jobanputra said that “given how much the volumes have decreased in the last year, I wouldn’t be surprised if we are seeing valuations come down on the secondary markets for some of these companies.” A recent report suggested that shares of crypto finance firm Circle were trading at a 75 percent discount on secondary markets. Jobanputra, who also sits on the board of directors at digital foreign exchange BitPesa, has purportedly invested in crypto- and blockchain -related firms like Civic and Blockstream . Speaking about the company’s decision not to invest in initial coin offerings ( ICOs ), Jobanputra argued that “they were exposed financially to the downturn in the crypto markets as well as from a technology standpoint. And a lot of my experience investing in the Internet days informed a decision to stay out of the ICO market.” Jobanputra also said that cryptocurrency companies are pivoting into the venture capital space, although previously most VC funds were reportedly staying away from that markets. She said that it is necessary for firms to find new ways to raise capital in order to survive in the existing environment. Founded in 2014 in New York, Future Perfect Ventures is a venture capital firm focusing on early stage investments primarily in technology companies, including blockchain , machine learning, and data analytics. Recently, Bloomberg released a report stating that amid the 2018 market slump, the launch of new crypto venture funds for the first time exceeded that of new hedge funds in the space. 125 new crypto venture funds were reportedly launched in 2018, as compared with 115 new investment-oriented crypto hedge funds. Related Articles: Major Currencies Gradually Roll Back After Short Recovery, Bitcoin Stays Over $3,600 Cryptos See Mild Movements After Market Surge, Bitcoin Holds Above $3,600 Bitcoin Breaks $3,600 Price Point, Some Top Cryptos See Double-Digit Gains New Regulatory Framework for Digital Asset Token Offering Introduced in Philippines || Dow Jones, Bitcoin Price Rallies in Jeopardy as US Stock Market Sends Mixed Signals: The US stock market is taking an uneven path on Thursday morning, with the Dow suffering triple-digit declines while tech stocks rise. The cryptocurrency market is almost universally sour, however, as traders continue to wrestle with that is now the longest-ever bear market for the bitcoin price.
The Dow Jones Industrial Average (blue), S&P 500 (red), and Nasdaq (orange) have all made strong gains this week.
The Dow had stomped to amonster 435 point gainon Wednesday as the stock market rode the wave of continued Federal Reserve patience on interest rate hikes, as well as positive earnings reports from major firms including Apple and Boeing.
The US stock market is sending mixed signals on Thursday, with Dow (blue), S&P 500 (red), and Nasdaq (orange) futures taking divergent paths.
Read the full story onCCN.com. || Cryptocurrency scams: The different variations of scams in the industry: There is no denying that there are a lot of cryptocurrency scams. Sometimes these accusations are overblown by people who have little knowledge of the industry, but where there is smoke, there is usually fire. With regulators and lawmakers scrambling to catch up, the industry has attempted to self-police itself, but sometimes without much luck. The Silk Road The first attack vector for those who are anti-Bitcoin isn’t necessarily a scam, but rather illegal activity. The Silk Road has become infamous in the crypto space, with founder Ross Ulbricht currently serving a life sentence without a chance of parole. The Silk Road was an online marketplace accessible through The Onion Router, an anonymous internet browser. The website was similar to eBay in some senses. There were buyers and sellers with ratings and products that could be bought. The main difference was that these products generally consisted of illegal drugs. The Silk Road was the catalyst for Bitcoin’s initial rise in value. For the first time, Bitcoin was being used as a currency to purchase goods. The success of The Silk Road was quite spectacular. During this time, blockchain analysis companies had yet to be created. This meant that despite Bitcoin being pseudonymous, it was extremely difficult for the security agencies to track the buyers and sellers of the illegal goods. The Silk Road was not a scam per se, but it was the first instance of creating a culture of suspicion from the mainstream media that is still prevalent today. Money laundering Another cryptocurrency scam that Bitcoin initially made easier was money laundering. Again though, this has become much harder in recent years. But there are still a couple of simple tactics that criminals could use to help ease their money laundering. One is using mixing sites, which help to hide transactions on the public blockchain. Another is using privacy-based cryptocurrencies such as Monero or Zcash, which could further help hide the movement of transactions. Story continues Even if this stealth movement is achieved, then exchanging the cryptocurrency for fiat remains an issue. One option is to use an OTC counter. This would prove difficult though, as those that broker such a deal would usually follow KYC and AML processes. Using a less-than-reputable exchange could be a possibility as they might not have as strict regulation or follow KYC/AML procedures. Recent news coming from Japan has shown a 1,000% rise in the use of cryptocurrencies in money laundering, although this still only makes up just 1.7% of all money laundering cases in Japan for the year 2018. Supporters of cryptocurrencies are always quick to point out that money laundering is typically still completed through the usual avenues, such as offshore banks. There are of course major corporations throughout the world who use complicated international tax laws as well to reduce their taxable income. Amazon paid no federal income tax for the year 2018. Ponzi schemes Some cryptocurrency scams are more blatant. These take the shape of cryptocurrency coins or tokens. Ponzi Coin (yes, that is the actual name) managed to reach highs of $0.20 despite the whole premise of the coin being a Ponzi scheme. The coin has since obviously died and the creator has left the website highlighting that it was always intended as a joke. Ponzi Coin is just one type of Ponzi scheme that has infected the cryptocurrency space. There are numerous MLM-type schemes that have proven very difficult to shut down. Pump it and dump it Pump and dump schemes are one of the oldest cryptocurrency scams, and they still show no signs of slowing down. They are not unique to cryptocurrency though – they were immortalised in Scorsese’s The Wolf Of Wall Street, which followed the life of Jordan Belfort and Stratton Oakmont. Pumping and dumping with cryptocurrencies is much easier than the extravagant heist pulled off by Belfort. This is due to lax regulation and the illiquidity of many cryptocurrencies, meaning that manipulation is much easier. Belfort has gone on to say that the cryptocurrency industry as a whole is one big scam. A typical pump and dump chart Conclusion Despite the world of finance being riddled with cases of illegality, the cryptocurrency industry still has some way to go in an effort to reduce some of the scams noted above. With improving technology regarding blockchain analysis, being able to scam the authorities and other citizens is becoming harder. As much as many in the industry are adverse to regulation, until we see some in one form or another, cryptocurrency scams will continue. Whilst they can be illegal, the immorality of them is just as big of an issue. Often it is normal citizens who are the ones that suffer most from such endevours. The post Cryptocurrency scams: The different variations of scams in the industry appeared first on Coin Rivet . || The Tipping Point: Kroger, Starbucks May Ignite Retail Crypto: It's no secret thatcryptocurrenciesdon't receive many plaudits in the mainstream media as reliable means ofpayment. Critics have even claimed that Bitcoin "sucks" as a payment mechanism.
Yet, despite that blinkered skepticism, cryptocurrency payments actually grew last year. Payment processor BitPayreporteda "record" $1 billion in transaction revenue in 2018, with its business-to-business (B2B) operations increasing by 255 percent compared to the previous year. Meanwhile, the use of cryptocurrencies in such economically unstable countries asVenezuelaandIndiahassurged, as people turn to the likes ofBitcoinandDashto escape from increasingly worthless national currencies.
These are all encouraging developments, and they've become more encouraging in recent months, with growing interest in crypto payments from major retailers. From Kroger toStarbucksandRakuten, big corporate names have begun flirting with Bitcoin and theLightning Networkas a payment channel, as well as with other cryptocurrencies. Their interest comes amid rising disenchantment with legacy payment systems, stoking hopes that a few more big converts to crypto payments could provide an all-important tipping point toward widespread adoption.
However, while events appear to be moving in the right direction for crypto payments, experts agree that it will take more than a few isolated use cases before the industry will see adoption on a larger scale. Added to this, payment interfaces need to be improved and made more consumer-friendly. It's only with the combination of technological effectiveness and corporate adoption that the global public will begin using crypto as money.
At the beginning of March, supermarkets giant Kroger — the17th-largest companyin theUnited States—revealed that it would stop acceptingVisa credit cards at over 250 of its stores. "Visa has been misusing its position and charging retailers excessive fees for a long time," said Kroger executive VP Mike Schlotman in a statement, with the retailing giant also explaining thatVisa’s fees were the highest of any of the credit cards it accepted.
What's interesting about this episode is that members of the crypto community quickly swooped in to make the case for Kroger to accept Lightning Network payments. OnTwitter, Morgan Creek Digital founder Anthony “Pomp” Pomplianoreached outon March 2 to the retailer's leadership team, stating that the "Morgan Creek Digital team will fly to meet them and get them hooked up with the Lightning Network nationwide." Even more interesting, Pomp followed this up on March 3 with atweetannouncing that he had just "finished up first call with someone on Kroger Digital team," and that his followers should "stay tuned" for more updates.
It's hard to say just how far Kroger will run with Pompliano's offer, yet industry figures are more or less unanimous in their views that adoption of Bitcoin payments by a giant like Kroger would be a watershed moment for the industry.
"Adoption of Lightning Network by a major retailer would definitely be a big deal for the entire crypto space," says Vilius Semenas, the chief commercial officer at crypto-payment processor CoinGate. "For bitcoin, exposure to real consumers on such a scale could only do good and pave the way toward another level of adoption."
According to Semenas, there's certainly an appetite among major retailers for a new payment network to replace legacy systems. "The card payments industry is unique in that Visa and MasterCard control the lion’s share of the consumer base," he told Cointelegraph. "At the same time, innovation adoption in this space takes a long time because the market is two-sided and needs adoption from both consumers and retailers. Retailers are naturally frustrated, because they have little-to-no ability to affect card payments, and they would probably turn to alternative payment rails if they could."
CoinGate isn't the only crypto-payment processor who suspects that such retailers as Kroger would prefer to move to more efficient and cost-effective payment systems. BitPay's director of product, Sean Rolland, also told Cointelegraph much the same thing, even if he suspects that it will be a long time before existing systems are replaced by crypto-based alternatives. "No business enjoys high fees," he said. "Legacy payment systems are not going completely away anytime soon, but retailers should always be evaluating better solutions."
Aside from Kroger, there are signs that other big players are entertaining the idea of moving to the Lightning Network and crypto payments. Most notably, Starbucks will begin accepting Bitcoin payments at its U.S. outlets by the end of 2019,accordingto industry rumors. This acceptance comes as part of an equity deal withBakkt, a cryptocurrency exchange and payments platform being launched later this year by Intercontinental Exchange (ICE), the operator of theNew York Stock Exchange(NYSE).
Back in August, the coffee giant wasrevealedas one of Bakkt's key partners, alongsideMicrosoftand consultancy BCG. According to thepress releaseannouncing Bakkt and its partnerships, Starbucks would not only be working with Bakkt to create its platform, but it would also be using the platform to accept crypto payments. In other words, even though the latest reports regarding Starbucks' imminent acceptance of Bitcoin payments are unconfirmed, the company itself had already confirmed that it will be doing this sooner or later, as explained in August by its VP of partnerships and payments, Maria Smith.
"As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks," Smith said on the occasion of Bakkt's announcement. “As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers."
This is precisely the arrangement that's now rumored to be launching toward the end of the year. Reports indicate Starbucks will accept Bitcoin payments at its American outlets, but it will immediately convert these to fiat, as indicated by its initial press release from August. So even though the exact launch date hasn't been confirmed, this will prove a massive boost to Bitcoin and crypto payments, and it's hard to imagine that other big companies won't follow Starbucks' lead.
Right now, there are no firm signs that other retailers as big as Starbucks or Kroger will begin accepting crypto payments anytime soon. However, there are a steady supply of slightly less high-profile companies (less high-profile in the U.S., at least) that have begun accepting such payments, or which will do so soon.
In November, Birks Group — one of Canada's largest and oldest jewellery retailers —announcedthat it had begun accepting Bitcoin at eight of its 30 stores inCanada. And in January and February, it became increasingly likely that Rakuten —Japan's largest e-commerce website — would begin accepting crypto, after itestablished a new payments subsidiaryand announced anupdate to its Rakuten Pay appthat would feature support for cryptocurrency payments.
You can still count such companies on one or two hands. However, given their size and clout, their movements into crypto payments are likely to put greater pressure on their rivals to act similarly. As BitPay’s Rolland affirms, "The more retailers that accept bitcoin, the better."
Despite this early movement in the direction of crypto payments, there are still a number of significant obstacles in the way of widespread adoption. Perhaps most difficult of all, there's the chicken and the egg problem: How can big companies adopt crypto payments if not enough consumers hold and use crypto, and how can most consumers come to hold and use crypto if not enough big companies adopt crypto payments?
Acknowledging that many retailers are looking for new payment channels, CoinGate's Vilius Semenas nonetheless warns they're not likely to adopt any channel that doesn't already boast a critical mass of users. "The problem is that there isn’t a payment system adopted widely enough by consumers," he said. "And it is virtually impossible to get consumers to effectively switch to another payment form other than cash."
This is arguably why there aren't more retailers like Kroger, Starbucks and Rakuten, since only around5 percent of Americansown at least one kind of cryptocurrency. It's also why it might be unwise to get too excited about Kroger or Starbucks providing a “tipping point” for crypto payments, since without mass ownership of cryptocurrencies, other companies aren't likely to be swayed too much by the examples these pioneers set. Again, this is a point made by Semenas, who notes that other instances of adoption haven't resulted (at least, not yet) in waves of copycat behavior:
"Whether this could become a ‘tipping point’ leading to a cascade of other merchants starting to accept bitcoin is uncertain. A few months ago, Ohio adopted bitcoin payments for taxes, for example. But it didn’t lead to other states doing the same yet. It would likely depend on the results of the experiment."
There's also the issue that systems like Lightning Network aren't quite ready yet for large-scale deployment. Lightning Network is currently in beta, so the idea that Kroger will drop such processors as Visa in favor of Bitcoin still remains a little fanciful. And as Vilius Semenas notes, many crypto-based payment channels like Lightning Network currently lack the kind of simple-to-use, streamlined interface that would lend them to massive consumer adoption:
"In an ideal world, for a retailer like Kroger, Lightning Network would be the perfect solution to accept consumer payments in a secure, cost-efficient way. Actually, it might be even the only solution that would enable worldwide payments on a scale that Visa and MasterCard currently provide. The major barriers to this would be consumer-friendly technology and convenient interfaces to transact money at the point of sale, rather than capacity constraints of the Lightning Network technology itself."
These words of caution aside, Semenas nonetheless believes that "it is most probably just a matter of time for user-friendly applications to get developed." And given that Lightning Network wasconceived as recently as 2016andlaunched in betaonly last March, it has already come a long way. There's no reason to think that it, Bitcoin and other cryptocurrencies won't go even further in the future.
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The saying fits Bitcoin Cash ABC whose market capitalization established a weekly high at $2.36 billion on January 24. But, at the start of this week, the cryptocurrency’s cap fell to as low as $1.94 billion.
BITCOIN CASH 7D PERFORMANCE | SOURCE: COINMARKETCAP.COM
At 1354 UTC, theBCH/USD pairwas trading at 110.81, down 11% on a 24-hour adjusted timeframe, according to data aggregator CoinMarketCap.com. The service also highlighted that traders exchanged large hands between Bitcoin Cash and Bitcoin on LBank and P2PB2b – both of them unregulated.
Read the full story onCCN.com. || 10 Types of Investments (and How They Work): types of investment Investing intimidates a lot of people. There are a lot of options, and it can be hard to figure out which investments are right for your portfolio. This guide walks you through 10 of the most common types of investment and explains why you may want to consider including them in your portfolio. If you’re serious about investing, it might make sense to find a financial advisor to guide you. SmartAsset can help you find the right advisor for you with our free financial advisor matching service . Stocks Stocks may be the most well-known and simple type of investment. When you buy stock, you’re buying an ownership share in a publicly traded company. Many of the biggest companies in the country — think General Motors, Apple and Facebook — are publicly traded, meaning you can buy stock in them. When you buy a stock, you’re hoping that the price will go up so you can then sell it for a profit. The risk, of course, is that the price of the stock could go down, in which case you’d lose money. Brokers sell stocks to investors. You can either opt for an online brokerage firm or work face-to-face with a broker. Bonds When you buy a bond, you’re essentially lending money to an entity. Generally, this is a business or a government entity. Companies issue corporate bonds, whereas local governments issue municipal bonds. The U.S. Treasury issues treasury bonds. After the bond matures — that is, you’ve held it for a predetermined amount of time — you earn back the principal you spent on the bond, plus a determined rate of interest. The rate of return for bonds is typically much lower than it is for stocks, but bonds also tend to be lower risk. There is some risk involved, of course. The company you buy a bond from could fold, or the government could default. Treasury bonds especially, however, are considered a very safe investment. Mutual Funds A mutual fund is a pool of many investors’ money that is invested broadly in a number of companies. Mutual funds can be actively managed or passively managed. An actively managed fund has a fund manager who picks companies and other instruments in which to put investors’ money. Fund managers try to beat the market by choosing investments that will increase in value. A passively managed fund simply tracks a major stock market index like the Dow Jones Industrial Average or the S&P 500. Some mutual funds invest only in stocks, others only in bonds and some in a mixture of the two. Story continues Mutual funds carry many of the same risks as stocks and bonds, depending on what they are invested in. The risk is lesser, though, because the investments are inherently diversified . Exchange-Traded Funds Exchange-traded funds (ETFs) are similar to mutual funds in that they are a collection of investments that tracks a market index. Unlike mutual funds, which are purchased through a fund company, ETFs are bought and sold on the stock markets. Their price fluctuates throughout the trading day, whereas mutual funds’ value is simply the net value of your investments. ETFs are often recommended to new investors because they’re more diversified than individual stocks. You can further minimize risk by choosing an ETF that tracks a broad index. Certificates of Deposit A certificate of deposit (CD) is a very low-risk investment. You give a bank a certain amount of money for a predetermined amount of time. When that time period is over, you get your principal back, plus a predetermined amount of interest. The longer the loan period, the higher your interest rate. There are no major risks to CDs. They are FDIC-insured up to $250,000, which would cover your money even if your bank were to collapse. That said, you have to make sure you won’t need the money during the term of the CD, as there are major penalties for early withdrawals. Retirement Plans types of investment There are a number of types of retirement plans. Workplace retirement plans, sponsored by your employer, include 401(k) plans and 403(b) plans. If you don’t have access to a retirement plan, you could get an individual retirement plan (IRA), of either the traditional or Roth variety. Retirement plans aren’t a separate category of investment, per se, but a vehicle for making investments, including purchasing stocks, bonds and funds. The biggest advantage for retirement plans — other than Roth IRA plans — is that you put in pre-tax dollars. You won’t pay taxes on the money until you withdraw it in retirement, when you will presumably be in a lower tax bracket. The risks for the investments are the same as if you were buying the investments outside of a retirement plan. Options An option is a somewhat more complicated way to buy a stock. When you buy an option, you’re purchasing the ability to buy or sell an asset at a certain price at a given time. There are two types of options: call options, for buying assets, and put options, for selling options. The risk of an option is that the stock will decrease in value. If the stock decreases from its initial price, you lose your money. Options are a highly advanced investing technique, and you must get approval to participate in the options market. Annuities Many people use annuities as part of their retirement savings plan. When you buy an annuity, you purchase a contract with an insurance company and, in return, you get periodic payments. The payments may begin right away or at a specified future date. They may last until death or only for a predetermined period of time. While annuities are fairly low risk, they aren’t high-growth. They make a good supplement to retirement savings, rather than an integral source of funding. Cryptocurrencies types of investment Cryptocurrencies are a fairly new investment option. Bitcoin is the most famous cryptocurrency, but there are countless others. Cryptocurrencies are digital currencies that don’t have any government backing. You can buy and sell them on cryptocurrency exchanges. Some retailers will even let you make purchases with them. Cryptos often have wild fluctuations, making them a very risky investment. Commodities Commodities are physical products you can buy. They could be agricultural products like wheat, barley and corn, or energy products like oil, coal or solar power. Precious metals like gold and silver are some of the most common commodities. Commodities investing runs the risk that the price of the product will go down quickly. For instance, political actions can greatly change the value of something like oil, while weather can impact the value of agricultural products. The Bottom Line There are a lot of types of investment to choose from. Some are perfect for beginners, while others require more experience. Each type of investment offers a different level of risk and reward. Investors should consider each type of investment before determining an asset allocation that aligns with their goals. Investing Tips A financial advisor helps you put together an investing plan that will utilize a number of the above types of investments. SmartAsset’s free financial advisor matching service makes it easy to find an advisor who suits you. Once you answer a few questions, we’ll match you with up to three advisors in your area. We fully vet our advisors, and they are free of disclosures . Before deciding how you want to proceed, you can talk to each of your advisor matches. If your investments pay off, you may owe the capital gains tax. Figure out how much you’ll pay when you sell your stocks with our capital gains tax calculator . Photo credit: ©iStock.com/ThaiMyNguyen, ©iStock.com/AndreyPopov, ©iStock.com/Rostislav_Sedlacek The post 10 Types of Investments (and How They Work) appeared first on SmartAsset Blog . Related Articles: How to Read and Analyze a Balance Sheet Opportunity Cost: Definition and Examples The Best Investment Simulators || Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Defying JP Morgan's FUD As The Technical Picture Remains Complicated - Confluence Detector: For the second day in a row, cryptos defied downbeat news, this time from JP Morgan. Technical levels are posing challenges to digital coins. Here are the levels to watch according to the Confluence Detector. Earlier in the week, cryptocurrencies defied the news that the CBOE withdrew its request for a Bitcoin ETF. The move was triggered by the ongoing government shutdown and may be temporary, but yet another delay is never good news for cryptocurrencies. Nevertheless, digital coins took the reports with stride, showing their resilience. And now, further depressing institutional news comes from JP Morgan. The major commercial bank led by Jamie Dimon, who has been outspoken on blockchain technology said that BTC/USD could fall below $1,260. This would represent a loss of roughly two-thirds of its value. Analysts from the influential bank said that the value of cryptocurrencies is still unproven and would only make sense in a total dystopia. They dismissed digital coins and said that in the event of a crisis, there are more liquid, less-complicated for hedging, investing, and transacting. Blockchain technology did receive some positive words as a means to cut costs, but this may take quite a few years for banks to benefit. Back to the present, bears did not benefit from these downbeat words. When something does not fall on bad news, it is set to rise on good news. bitcoin_ethereum_ripple_january_25_2019-636840021572876377.png BTC/USD still battles $3,577 Bitcoin, the King of Cryptos, is trading in a narrow range, struggling around $3,577, a "groundhog day" reaction. The dense cluster consists of the following technical lines: the Bollinger Band 4h-Middle, the Simple Moving Average 50-1h, the SMA 200-15m, the Fibonacci 38.2% one-month, the SMA 100-15m, the SMA 5-15m, the SMA 10-15m, the BB 15min-Middle, the BB 1h-Middle, the SMA 5-1h, the Fibonacci 38.2% one-week, the SMA 5-4h, the SMA 100-1h, the Fibonacci 38.2% one-day, the BB 15min-Upper, and more. If the granddaddy of digital coins overcomes this level, it can run to around $3,850 where we find the convergence of the Pivot Point one-week Resistance 2 and the Fibonacci 61.8% one-month. Story continues Looking down, the only substantial support for BTC/USD is around $3,132 where the yearly low meets the PP one-month Support 1. ETH/USD struggles with $118 Ethereum is also battling a dense cluster of levels. The $118 region is humming with stringent levels including the BB 1h-Middle, the BB 15min-Middle, the SMA 5-1h, the SMA 50-1h, the SMA 200-15m, the SMA 10-1h, the Fibonacci 23.6% one-day, the SMA 50-15m, the SMA 100-1h, the BB 4h-Middle, the SMA 5-1d. The next target is $120.50 is the confluence of the SMA 50-4h, the SMA 200-1h, the BB 4h-Upper, the SMA 50-1d, and the SMA 10-1d. Looking further above, $125 features the Fibonacci 61.8% one-week. On the downside, support for ETH/USD awaits at $115 which is both last week's low and yesterday's low. Further down, $112.50 is a juncture including the Fibonacci 161.8% one-day, the Fibonacci 61.8% one-month, and the Pivot Point one-day Support 2. XRP/USD has an uphill battle at $0.32 Ripple remains restricted at around $0.32. It is the convergence of a long list of technical lines including the SMA 5-15m, the SMA 200-15m, the SMA 50-1h, the Fibonacci 38.2% one-day, the SMA 10-15m, the BB 1h-Middle, the BB 4h-Middle, the SMA 5-1h, the BB 15min-Middle, the SMA 100-1h, the SMA 10-1h, the Fibonacci 23.6% one-day, and the SMA 5-1d. If XRP/USD conquers that level, the next cap is quite close. $0.3250 is the confluence of the SMA 50-4h, the SMA 200-1h, the Fibonacci 23.6% one-month, and the SMA 10-1d. Only after overcoming the aforementioned hurdles can Ripple run all the way to $0.3512 where we see the Fibonacci 38.2% one-month, and the SMA 200-4h converge. Some support awaits at $0.3131, a juncture of lines including the Pivot Point one-month Support 1, the previous day's low, and the BB 4h-Lower. See more from Benzinga EUR/USD Forecast: Only A Dead Bounce As Downside Risks Dominate USD/CAD Forecast: Canadian Data Curbs CAD's Enthusiasm, GDP Eyed Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Showing Resilience After The CBOE ETF Withdrawal © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 03/03/19: Bitcoin Cash ABC Touches $132s Bitcoin Cash ABC fell by 1.21% on Saturday. Reversing a 1.21% gain from Friday, Bitcoin Cash ABC ended the day at $129.5. A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $132.19 before hitting reverse. Falling short of the first major resistance level at $132.55, Bitcoin Cash ABC slid to a mid-morning intraday low $128.0. The reversal saw Bitcoin Cash ABC fall through the first major support level at $129.22 before partially recovering. At the time of writing, Bitcoin Cash ABC was up by 0.77% to $130.5. Support at the start of the day gave Bitcoin Cash ABC a move back through to $130 levels. The days major support and resistance levels were left untested early on. For the day ahead, a hold onto $130 levels would support a run at $131 levels and the first major resistance level at $131.79. Support from the broader market would be needed to hold onto $131 levels and take a run at $132 levels later in the day. We would expect $134 levels and the second major resistance level at $134.09 to be left untested on the day. Failure to hold onto $130 levels could see Bitcoin Cash ABC return to $128 levels later in the day. In the event of a crypto sell-off, the first major support level at $127.6 could come into play. We would expect Bitcoin Cash ABC to avoid sub-$127 levels in the event of a sell-off, however. Litecoin Makes a Move Litecoin rallied by 3.08% on Saturday. Following on from a 3.04% gain on Friday, Litecoin ended the day at $48.25. A relatively choppy morning saw Litecoin fall to a late morning intraday low $46.41 before making a move. Steering clear of the first major support level at $45.15, Litecoin rallied to an early afternoon intraday high $49.11. The rally saw Litecoin break through the first major resistance level at $48.59 to hit its highest level since 24 th Feb before easing back. At the time of writing, Litecoin was down by 0.33% to $48.09. A bullish start to the day saw Litecoin rise to a morning high $48.73 before easing back. Litecoin fell to a morning low $48.00 before steadying. Moves through the early morning left the days major support and resistance levels untested. Story continues For the day ahead, a hold onto $48 levels would support a move through the morning high to bring $49 levels into play. Support from the broader market would be needed to test the first major resistance level at $49.44. Barring a broad-based crypto rally, we would expect Litecoin to come up short of $50 levels. Failure to hold onto $48 levels could see Litecoin slide through to sub-$47 levels. A reversal would see Litecoin call on the first major support level at $46.74. In the event of a broad-based sell-off, the second major support level at $45.22 could come into play later in the day. We would expect Litecoin to steer clear of sub-$45 support levels in the event of a sell-off. Ripple Sees Red Ripples XRP fell by 0.59% on Saturday. Partially reversing ay 0.87% gain from Friday, Ripples XRP ended the day at $0.3214. A bearish morning saw Ripples XRP fall from an intraday high $0.3252 to an intraday low $0.3168. Falling short of the first major resistance level at $0.3306, Ripples XRP called on support at the first major support level at $0.3174. Ripples XRP managed to recover to $0.32 levels by the end of the day. Ripples XRP called on sub-$0.32 support through the afternoon to avoid heavier losses on the day. At the time of writing, Ripples XRP was down by 0.26% to $0.32058. A start of the day morning high $0.0.32299 came up short of the first major resistance level at $0.3255. Falling back to a morning low $0.32011, Ripples XRP managed to steer clear of the major support levels. For the day ahead, a hold onto $0.32 levels through the morning would support an afternoon recovery. Support from the broader market would be needed for Ripples XRP to breakout from the first major resistance level at $0.3255. We would expect Ripples XRP to struggle at $0.33 levels, however. The second major resistance level at $0.3295 would likely pin Ripples XRP back from more material gains on the day. Failure to hold onto $0.32 levels would see Ripples XRP fall through the first major support level at $0.3171. Barring a broad-based crypto sell-off, we would expect Ripples XRP to avoid sub-$0.31 levels. In the event of a sell-off, the second major support level at $0.3114 should prevent heavier losses on the day. Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: S&P 500 Price Forecast Stock markets roll over on Monday USD/JPY Price Forecast US dollar continues to test resistance Gold Price Prediction Prices Slide on Stronger Dollar and Negative Technicals GBP/JPY Price Forecast British pound pulls back slightly GBP/USD Price Forecast British pound rolls over Bitcoin And Ethereum Daily Price Forecast Major Crypto Coins Bleed Red || E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Crossing 24890 Puts Dow on Bullish Side of Major Retracement Zone: Blue chip stocks closed higher on Friday after President Trump announced that he reached a continuing resolution deal with Congress to reopen the U.S. government. Further support was provided by a report from The Wall Street Journal which said U.S. Federal Reserve policymakers are nearing a decision on when to end its balance sheet reduction program. Investors read the news as a form of easing which tends to be supportive for higher risk assets.
On Friday,March E-mini Dow Jones Industrial Averagefutures settled at 24696, up 238 or +0.96%.
The main trend is up according to the daily swing chart. A trade through 24860 will signal a resumption of the uptrend. The next main top target comes in at 26110.
The main trend is safe at this time. A trade through 22563 will change it to down. However, this type of rally usually ends with a dramatic closing price reversal top. This pattern won’t change the main trend to down, but it will indicate the selling is greater than the buying at current price levels.
The minor trend is also up. A trade through 24216 will change the minor trend to down. This will also shift momentum to the downside. This could trigger a break all the way into the next minor bottom at 22563.
The major retracement zone at 24234 to 24890 is currently being tested. This zone is controlling the longer-term direction of the market.
We don’t know when it will happen, but at some point in this rally, the market will retrace the rally from 22563 and from 21452. The closing price reversal top usually tips us off before this correction begins.
Based on last week’s price action and the close at 24696, the direction of the March E-mini Dow Jones Industrial Average on Monday is likely to be determined by trader reaction to the major Fibonacci level at 24890.
A sustained move over 24890 will indicate the presence of buyers. The daily chart shows there is no resistance until 26110. We could see an acceleration to the upside or another prolonged move up.
The inability to take out or sustain a rally over 24890 will signal the presence of sellers. If this move creates enough downside momentum then look for a further break into the main 50% level at 24234 and the minor bottom at 24216.
The minor bottom at 24216 is a potential trigger point for an acceleration to the downside with the first target the next minor bottom at 23640. When 24216 starts to fail then start calculating the retracement zone targets.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/01/19 || How long will Bitcoin’s bear market last?: With another week of sideways action on our hands – up a little bit then back down again – I thought today I would take a step back and ask a question that must be on every crypto investor’s mind: how long will this bear market go on for? The way I am going to answer that question is by looking at two infamous bear markets of the last 20 years, in sectors with many parallels to Bitcoin: dotcom and gold. We will start with dotcom. In 1999, the internet was going to change the world. Everybody could see that. And so there arose an investment mania the like of which the world had (almost) never seen before. Investopedia describes the boom: Venture capitalists anxious to find the next big score freely invested in any company with a “.com” after its name. Valuations were based on earnings and profits that would not occur for several years if the business model actually worked, and investors were all too willing to overlook traditional fundamentals. Companies that had yet to generate revenue, profits and, in some cases, a finished product, went to market with initial public offerings that saw their stock prices triple and quadruple in one day, creating a feeding frenzy for investors. If that’s not a description of the ICO boom of 2017, I don’t know what is. Here is the Nasdaq over the period. From the peak in March 2000 to the low in October 2002, the Nasdaq lost roughly 85% of its value. The bear market lasted 31 months – over two and a half years. Of course, the Nasdaq incorporates the largest US tech firms. Many of the smaller ones multiplied by many times more than the Nasdaq, and when they failed, they disappeared altogether. The volatility of Bitcoin and, especially, altcoins is far greater. Bitcoin appreciated by far greater multiples than the Nasdaq ever did. The Nasdaq had quite a few 20% or 30% corrections through the 1990s, but it went pretty much straight up. Bitcoin has already had three almighty booms and busts (from $32 to $1 in 2011; from $1,150 to $180 in 2013; and then from $20,000 to $3,100 today). Story continues What’s more, at its apex in 2000, the market cap of the Nasdaq was over $6 trillion – and that was in the more valuable US dollars of 18 years ago. Crypto still has not passed the $1 trillion mark. So here’s the question: was 2017 Bitcoin’s dotcom moment, or is that still to come? Was Bitcoin in 2017 similar to the Nasdaq somewhere in the mid-90s? Perhaps the “really” big bubble is yet to come – the one that sucks in the institutions of Wall Street and the City. It is hard to see how any bubble could be bigger than 2017, but then this is a new tech and a new system of money – the potential for bubbles to form around such narratives is pretty immense. If crypto can solve its usability and user-friendly issues, then many more people could get sucked in. So perhaps this is more akin to the 30% correction the Nasdaq had in 1998 (circled in red). We shall see. One doesn’t want to get too trapped in the mindset of imposing one market from one age onto another. I wasn’t much involved in markets in those days, but somehow I still ended up with a couple of dotcom turkeys in my portfolio, and I was certainly able to see the madness of what was taking place. I was 31. Today I’m 49. Most people working in crypto today are in their 20s and 30s. They’re too young to remember dotcom. We are 13 months into this crypto correction now. It doesn’t feel to me like we have had the final low yet. Even if 2017 was not Bitcoin’s dotcom, it was still pretty epic. A lot of money got sucked into the sector, much of it inexperienced. There needs to be a greater purging. More companies need to go under, I’d suggest, before the foundations are ready for the next surge up. Was Bitcoin gold 2.0? The other market where I see great parallels with Bitcoin is in the speculative mania around gold that came earlier this century. Gold made a multi-year low in 2001 at $250 and then rose through the decade, before eventually making a peak 10 years later in 2011 at $1,920 an ounce. A similar political narrative accompanied the rise of gold: fiat money is wrong, the system is broken, there is too much debt, inflation is concealed, there has to be a better money system to be built around something incorruptible – like gold. But somehow or other, junior mining exploration companies became a kind of option on the gold price. If gold went up 10%, these companies might double. Ten-baggers were not uncommon. Some even got 100-baggers. When the bust came, funding for these exploration companies dried up. Most lost over 95% of their value or more. Hundreds went out of business altogether. Exploration is a bit like tech. It doesn’t make any money. Just as tech is capital intensive and experimental with no guarantee you will have anything of value by the end of it, so is exploration: you’re staking ground and drilling it in the hope that you find something. There is no guarantee you will. Often, you spend the money only to make the discovery that something will not work. There is an exchange-traded fund that tracks the mid-cap mining companies, known as GDXJ. It peaked at $145 in the spring of 2011. The low didn’t come until almost five years later in early 2016 at $15. That’s a 90% drop. Today it sits around $30. It is worth looking at a “typical” small cap. Granada Gold (GGM.V), formerly known as Gold Bullion Development Corp (GBB.V), is a good example. Its main asset is one of the best undeveloped properties in Canada. There is no doubting the property. But there were numerous questions about the competence of the management. The stock was over-promoted. The management made all sorts of promises – we are going to be producing gold by this date, we are going to pay our shareholders a dividend in gold – and failed to deliver on all of them. It kept raising money and diluting the stock. They saddled the company with debt. They faced fines by the Canadian authorities for misuse of funds. They had loads of chances to get themselves taken out, but the management’s priority was not their shareholders. It was like the worst kind of ICO – a decent idea, but oversold, with shareholders overlooked while the management drove about in sports cars. At the peak of the market, the stock was trading at C$7.44. Today, it sits at C$0.15. That’s a 99% fall. The boss is still taking his salary. Here’s the chart: Perhaps the quality of its main exploration asset is the only reason this company has not gone bust. But look at that chart and you can see just how long bear markets can go on for. Crypto is different, as I often say. It is younger and more dynamic. There is less regulation to slow things down. Things will move faster. But the price movements will be just as bad. According to CoinMarketCap, when the sector as a whole made its high on January 8th 2018, the total crypto market cap was $828 billion. I make the low for the sector December 17th 2018 at around $102 billion – around an 88% sell-off. (Interestingly, the low is precisely a year after Bitcoin’s peak at $20,000.) An 88% sell-off is enough in magnitude to inflict the pain concomitant with the unwinding of a bubble, but I can’t help thinking that it has not quite gone on for long enough yet. There are signs this market is stabilising and flattening out, but, as a man who knows his bears, I would suggest that at some point, Bitcoin needs to at least retest its lows. Second, I think time-wise we need a little bit longer. A year is not enough. I know I have estimated 12-18 months, but maybe I should say 12-24. We shall see. Dominic Frisby is author of the first (and best, obviously) book on Bitcoin from a recognised publisher, Bitcoin: the Future of Money? , available from all good bookshops, and a couple of rubbish ones too. Dominic is director of Cypherpunk Holdings (CSE:HODL), a company set up to invest in privacy-related technologies. Follow Dominic – @dominicfrisby The post How long will Bitcoin’s bear market last? appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
-=[ 559.972 ]=-
Txs: 1.174
Size: 438.28 KB
Stripped: 344.89 KB
Time: 1548371310
Reward: 12.5 BTC
Fees: 0.05500205 BTC
Miner: BTCcom
Mempool: 604 txs || An user has just won 995.10 mBTC on UCAM Murcia vs. River Andorra at https://fairlay.com/ #Fairlay #Bitcoin #Crypto || extremely bullish long term for bitcoin...what the skeptics won't mention. Bitcoin can't be seized, impounded, if the right steps are taken in securing it..unlike gold bars https://twitter.com/PattyLaya/status/1088882785970995200 … || SEC got hacked and somehow their concern is BItcoin http://bit.ly/2DeazKP || Save money by shopping @PurseIO! Sign up and get 5 USD in BTC free. https://purse.io/?_r=i75zff || $BTC never even hit $20k lmao. || 0.15%
3694.79$
3700.12$
3701.04$ || Another Issuer Is Looking To Launch A Bitcoin ETF https://buff.ly/2DnVNks pic.twitter.com/bRm7aWECVh || 2019/02/10 13:00
BTC 395056円
ETH 12865.2円
ETC 436.3円
BCH 13699.1円
XRP 33.3円
XEM 4.3円
LSK 124.4円
MONA 52.9円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || $nxps. minimal risk with good reward. Let’s see! My target 18.... $btc $xlm $xrp $ada $gvt $link $neo. Oh yeah... Hot Pundi X (NPXS), Pundi X NEM (NPXSXEM) event!
31 January 2019 (or earlier)
F(X) Mainnet Plan
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Trend: up || Prices: 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Gaining Traction At Colleges Around The World: The purpose of higher education is to provide students with the tools they need to enter their chosen profession. Real-world skills have long been an emphasis at top schools around the world, and now those skills include an in depth study on cryptocurrencies like bitcoin.
As digital currencies gain momentum across the globe, universities are taking notice andadding bitcoin coursesto their syllabuses in order to keep up with the quickly changing fintech landscape.
Teaching In An Evolving Field
American Universities like Massachusetts Institute of Technology and Duke University only recently launched bitcoin classes, but others around the world have been offering such courses for years. The University of Cumbria was the first U.K. university to offer bitcoin courses and the University of Nicosia in Cyprus was one of the first to offer a free bitcoin course in 2013 to any interested parties.
Related Link:New Ruling Defines Bitcoin As A Commodity In The US
Bitcoin Adoption
Universities that offer bitcoin studies are creating a major stepping stone for the cryptocurrency as it expands further. Not only do the classes give the best and brightest the tools to solve real-world problems related to digital currencies, but they draw awareness to cryptocurrencies as well.
Canadian McGill University and MIT both offered bitcoin giveaways to students in an effort to give the cryptocurrency more traction on campus. Others like the U.K.'s Imperial College have dedicated research to the expanding field and given students and staff the opportunity to collaborate in order to solve some of the cryptocurrency's pressing issues.
Bitcoin Payments
Not only are schools offering their students a chance to learn more about bitcoin, but many are accepting the cryptocurrency as payment for their studies as well. In 2013, the University of Nicosia in Cyprus was the first college in the world to accept bitcoin as a form of payment. The school announced that its students could pay for courses and other fees using the cryptocurrency, and had its first student pay in bitcoin just weeks later.
See more from Benzinga
• As Adults Embrace Marijuana, Teens Turn Their Noses Up
• Here's How The Fed's Decisions Will Affect Central Bankers Around The World
• Pentagon Working To Overhaul Cybersecurity Protocol
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Reaches A Fork In The Road: Since its arrival on the fintech scene, bitcoin has always been an open source, decentralized cryptocurrency. That means that no individual can update the system without a consensus among bitcoin users. However, a fierce debate within the community has threatened to pull bitcoin users in two separate directions. The Problem The bitcoin community has been locked in a heated debate over whether or not developers should increase block sizes to greater than 1MB. A block records recent bitcoin transactions, and increasing its size would help to accommodate the cryptocurrency's growing demand. However, critics say that making blocks larger could prevent ordinary users from hosting and would lead to more centralization. Related Link: Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched A Choice To Make Now, developers Gavin Andresen and Mike Hearn have released a new version of software called Bitcoin XT which supports increased block sizes. The move has forced users to choose between Bitcoin Core, which keeps blocks under 1MB, or Bitcoin XT which allows their expansion when necessary. Core Or XT? While the two are compatible at the moment, Bitcoin XT is planning to update its system to incorporate larger block sizes if 75 percent of the cryptocurrency's users adopt it. Many worry that even if XT gains the majority needed for an update, the 25 percent of Core users will continue with that system. Such a decision would effectively tear the currency in two and could have the potential to significantly decrease adoption of the cryptocurrencies as a whole. See more from Benzinga Automation Serves Up Massive Travel Delays For The Second Time This Summer Disney Looks To A Galaxy Far, Far Away To Revamp Its Theme Parks Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin startups lure quant whizzes from Wall Street: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Armed with a doctorate in financial engineering, 34-year-old Timo Schlaefer was on his way to a promising career at Goldman Sachs in London. Previously with the bank's mergers and acquisitions team, he became an executive director of credit quantitative modeling at Goldman, where quants like Schlaefer are highly valued.
In February he gave that up, and launched a company called Crypto Facilities Ltd, a bitcoin derivatives trading platform, which now has six employees. For now, the platform trades bitcoin forwards, which are directly linked to the price of bitcoin, but it's also developing other digital currency derivative products.
"This is uncharted territory," said Schlaefer. "It's an exciting opportunity to participate in a new area of technology that has massive potential."
Bitcoin is a virtual or online currency created through a "mining" process where a computer's resources are used to perform millions of calculations. Once mined, bitcoins can be stored in an online wallet, traded in an online exchange, or used to buy goods and services.
Once the province of small-time investors driven by their distrust of government-backed currencies, now Wall Street bankers and traders are leaving high-paying jobs to join bitcoin start-ups, while big firms hire in-house to get their arms around bitcoin and the related 'blockchain' technology.
"A lot of people are entering the bitcoin space as the sector has reached an overall level of funding that's hard to ignore," said Jaron Lukasiewicz, founder and chief executive officer at New York-based bitcoin exchange Coinsetter. Lukasiewicz, 29, moved to the bitcoin world in late 2012, having left behind a six-figure salary in private equity at The CapStreet Group in New York.
Bitcoin is not backed by a government and its value fluctuates. On Thursday, it was trading at $278 <BTC=BTSP>, making the value of outstanding bitcoin worth about $4 billion. It has had a volatile history, with a rapid rally in 2013 that boosted its value to more than $1,150 per bitcoin at one point.
Right now, Crypto Facilities' Schlaefer probably won't make anywhere near the kind of money that he would potentially earn at Goldman. But it's less about the compensation for Schlaefer and more about being part of the growth in bitcoin and its underlying technology, the blockchain.
The blockchain - a ledger or list of all of a digital currency's transactions - is viewed as bitcoin's main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.
Software engineers have started developing multiple applications for the blockchain, including a land title record system in Honduras to the clearing of trades in financial markets.
Meanwhile, Wall Street firms are doing their own hiring in the cryptocurrency realm. In June, online bitcoin job ads surged to a record high of 306, according to data from Wanted Analytics, with demand coming from banks such as Capital One and tech companies such as Intel and Amazon. In previous months, Citigroup and TD Canada Trust posted bitcoin job ads as well.
RISKY BUSINESS
For 31-year-old Paul Chou, founder and chief executive officer of Ledger X, an institutional trading and clearing platform for bitcoin options, moving into the digital currency space represents what he hopes results in lucrative profits down the road. But there are other reasons for his shift.
LedgerX is awaiting regulatory approval from the Commodity Futures Trading Commission to trade and clear options on bitcoin. Chou said the firm hopes to operate the first regulated exchange and clearinghouse to list and clear fully-collateralized, physically-settled bitcoin options for the institutional market.
"I took a very large salary pay cut to do this, in return for equity in a start-up that can be worth a lot someday," Chou said.
Before LedgerX, Chou worked at Goldman Sachs in New York as a quant equity trader after graduating from the Massachusetts Institute of Technology with degrees in computer science and mathematics. Chou said his hours are much longer as an entrepreneur - he's constantly refining ideas for strategy and thinking which areas to focus on.
"The domain expertise, relationships, and career equity I've built are things I never could have done while at Goldman," Chou said. "As a former trader, I'm glad I made this trade-off at the stage of my career that I did."
It's a risky move, however. There are already several tales of bitcoin company failures and mismanagement.
U.S. bitcoin marketplace Buttercoin, for instance, shuttered its operations in April this year despite raising $1.3 million in funding. Bitcoin exchange MyCoin closed its doors in February of 2015, leaving about 3,000 investors out of pocket.
Tokyo-based Mt. Gox, once one of the most dominant bitcoin exchanges, closed its doors without warning in February last year, filing for bankruptcy and leaving investors approximately $500 million in the red.
BITCOIN INVESTMENTS, HIRING
Total investments in bitcoin companies for the first half of 2015 - totaling $375.4 million - have already exceeded 2014's total of $339.4 million, data from CB Insights showed. Last year's venture capital funding of bitcoin start-ups grew roughly 280 percent from 2013.
The number of bitcoin start-ups has increased by more than 80 percent from last year. As of end-July, there were 814 start-up digital currency companies, up from 444 a year earlier, according to Angel List, an online marketplace for start-ups seeking to raise money from angel investors.
As banks defer compensation and add more clawback provisions that give them the right to limit bonuses, traders are seeing better risk opportunities elsewhere, said San Francisco-based Rick Henri Chan, chief operating officer at Airbitz, a digital wallet platform.
Chan, 47, who joined the bitcoin industry three years ago, worked for Deutsche Bank as head of its over-the-counter derivatives technology in Japan, and was a trader at UBS and Morgan Stanley.
He works long hours at Airbitz, doing everything from strategy to raising money, but the work environment is more flexible. At Deutsche, Chan had a multi-million dollar package, and he admits to missing that paycheck.
"But we're doing something special here at Airbitz. And I do think our company will be valued at a lot more in the future," he said.
(Reporting by Gertrude Chavez-Dreyfuss, editing by David Gaffen and John Pickering) || 4 buys for retail stocks ahead of earnings: The bar has been reset in the retail space, and Macy's(NYSE: M)is now the stock to buy for the near term, CNBC "Fast Money" trader David Seaburg said Friday.
"Macy's is the one to own here for the short term, but long term, I caution you: I think they're going to have some real struggles," he said. "I think right now is the time to buy it for a trade: I think the stock's been beaten up, there are no expectations they're going to make numbers-I think you'll get a trade to the upside."
Still, Seaburg reiterated his caution for investors looking to go long into the retailer, as he predicted that Amazon will displace the company by 2017.
For his part, trader Brian Kelly said he "might pick at" Macy's, but similarly cautioned that "it's not really a long-term type of investment."
Kelly said he doesn't like the retail space in general because consumer spending is not seeing much boost from the decline in oil.
"Fast Money" Trader Steve Grasso, meanwhile, said that "if you have to play in that retail space," go with Target(NYSE: TGT).
That company, he said, has been an outperformer with a more than 4 percent year-to-date gain.
He also suggested buying Deckers Outdoor(NYSE: DECK), saying, "It makes an excellent takeout target." He noted that it would also work as a seasonal buy in October.
Disclosures:
Steve Grasso
Grasso is long AAPL, BA, BAC, CC, DD, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX. His kids are long EFA, EFG, EWJ, IJR, SPY. His firm and some of its partners are long NEM, LYB, WDR, SHLD, STRP, UDR, ACI, AVP, TEX, CLI, TWTR, WYNN, PCRX, AXP, FNMA, SALT, AMD, CUBA, HSPO, ICE, AMZN, FCX, IBM, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OXY, RIG, STAG, TAXI, TITXF, TSE, VALE, ZNGA.
Guy Adami
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Brian Kelly
Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL, the VIX, GDX call spread, TWTR call spread, US dollar; he is short DAX, Yuan and Yen. Today he closed his Oil and Ruble shorts.
More From CNBC
• Top News and Analysis
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• Personal Finance || Is NASDAQ Going Green?: On Monday, the marijuana-themed networking company MassRoots Inc (OTC: MSRT ) announced its plans to become the first cannabis-based company to be listed on the Nasdaq Capital Market. The company has been listed OTC since April 2015, but if it is accepted by Nasdaq, it will mark a major milestone for the company's growth. Marijuana Network MassRoots is a social networking app that connects marijuana users to industry participants like dispensaries and pot-themed companies. As the app itself doesn't handle any marijuana or facilitate sales directly, it can be used throughout the U.S., even in states where marijuana use is still illegal. Big Opportunity MassRoots Chief Executive Officer Isaac Dietrich said that the company's move onto a major market like the NASDAQ will likely help attract new investors and mark a huge step forward for both the company and the marijuana industry as a whole. In order to comply with NASDAQ's requirements MassRoots is planning to strengthen its corporate governance and take other steps in order to ensure it meets all of the criteria. However, even if the company is able to fulfill the requirements, there is no guarantee that the its application will be accepted. Investors Interested In Pot? It remains unknown how well MassRoots would be received by investors. On one hand, MassRoots would be the first company whose operations are directly linked to recreational marijuana use. While companies like GW Pharmaceuticals (NASDAQ: GWPH ) are already listed on the exchange, their research explores using elements from cannabis to create new medical treatments. MassRoots, appeals to recreational users and gives investors a chance to invest in technology which may grow alongside the industry. However, some could be wary of marijuana-linked investments as the industry's future is still uncertain as conflicting federal and state laws allow for the marijuana market to be shut down at any time. See more from Benzinga Cybersecurity Becomes An Even Bigger Problem For U.S. Firms New Dictionary Entries Suggest Bitcoin Is Going Mainstream Where Is The Market Headed? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || IBM Gets Behind Blockchain: While bitcoin and other cryptocurrencies have struggled to find mainstream appeal, blockchain, the ledger like technology that they run on, has been touted as one of the most important technological advancements of the past decade. The system has the ability to facilitate transactions in a way that many say will transform more than just the financial industry. That idea is now being put into practice by tech giant International Business Machines Corp. (NYSE: IBM ), as the company announced that it is working to use the technology to create a "smart contracts" system. Related Link: Buy Some Bitcoin With This ETF Smart Contracts The Wall Street Journal reported that IBM Research Senior Vice President Arvind Krishna said that the firm is working on a way to develop blockchain technology into a system that can facilitate contracts. The system is expected to eventually be released as open-source software and will likely give other big name companies reason to look into using the technology. Improving Business Transactions IBM's smart contracts system won't include the use of cryptocurrencies, but will instead draw on blockchain's ability to track individual transactions but keep the details private. The idea is to allow companies to embed rules into their contracts and allow the blockchain system to enforce them. One example the company is looking into would be a system that automatically pays for goods once they are delivered, however the possibilities for using the technology could reach into several aspects of business operations. See more from Benzinga IBM Uses Tennis To Demonstrate Its Dominance In Data U.S. Tech Firms Hope To Have A Say In New EU Digital Market Rules iBusiness, iPrograms: Apple Stretches Its Legs © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Obama's Clean Power Plan: Winners & Losers: On Monday, the Obama administration together with the Environmental Protection Agency unveiled a new set of guidelines aimed at reducing emissions in the United States. The Clean Power Plan will reduce carbon emissions by 32 percent from their 2005 levels by 2030. Obama plans to allow states to create their own individual plans to meet their designated targets, which they will need to submit in the coming years. Controversial Plan The Clean Power Plan has been heralded by environmentalists as a necessary step forward in the battle against climate change. Obama called the proposal "the biggest, most important step" the nation has ever taken. However, not everyone agrees. Critics of the plan say Obama has waged a war on coal and that the new rules will stifle job growth and raise the cost of energy in the US. See Also: Why Are Solar Stocks Down After Obama's Carbon Announcement? Losers Should the plan make it through a barrage of criticism in Washington, it is expected to have an uneven impact across the US. Much of whether or not a specific state will benefit depends on that particular state's reliance on coal and how its industry is regulated. Despite that, the coal industry as a whole is expected to suffer under the new regulations. Companies like Alpha Natural Resources, Inc. (OTC: ANRZ ) and Xinergy Ltd. which are already struggling to stay afloat, are likely to face a bumpy road ahead. Winners Nuclear power is expected to see a boost from the Clean Power Plan as it is an effective way to generate power without major greenhouse gas emissions. Renewables like solar and wind power are also expected to gain momentum as more and more states turn to alternative energy sources to meet their new targets. See more from Benzinga Fed Stuck In The Middle Of Marijuana Debate Australian Government Takes Steps Toward Becoming A Bitcoin-Friendly Nation Tech Firms Gear Up For 2016 Presidential Race © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || BitX Selects Zazoo to Offer Interoperable Spend via Mobile Virtual Card Technology: LONDON, UNITED KINGDOM--(Marketwired - August 13, 2015) -ZAZOO, a business unit of Net 1 UEPS Technologies, Inc. ("Net1")(UEPS)(JSE:NT1), has signed an exclusive deal withBitX, a leading universalBitcoinplatform that will make it possible for Bitcoin users to spend their crypto-currency online or in-app exclusively using VCpay™, ZAZOO's patented mobile virtual card ("MVC") technology.
"We are very excited to be working with BitX as crypto-currencies are starting to gain prominence worldwide, and are positioned to be one of the next big things in the fin-tech space," says Philip Belamant, Managing Director of ZAZOO.
"This collaboration eliminates the current challenge experienced by these new currencies, namely that of interoperability with the existing financial system, by providing a seamless gateway between crypto-currencies and traditional payment channels, resulting in the immediate and pervasive acceptance of Bitcoins as a payment currency in the online world. This collaboration will enable BitX and VCpay™ users to now spend Bitcoins agnostically, anywhere online and anywhere in the world, without any changes to the existing acquiring or switching infrastructures. We believe that BitX is an ideal partner for our technology as it is a rising star in the crypto-currency field, and supported by astute investors such as Naspers," says Belamant.
Marcus Swanepoel, Chief Executive Officer of BitX said: "The gap between the speculative trade in digital currency and users' ability to trade the currency for any item that they choose is closing, with VCpay™ as a critical enabler in this transition."
Bitcoin is a decentralised digital commodity that provides an alternative to transacting with traditional currencies. Bitcoin is like digital cash, and can be transferred from person to person or from a person to a business, instantly, securely and irreversibly, without going via a processing house. Users can buy and sell Bitcoin from Bitcoin platforms like BitX, using traditional currencies, and they can use the crypto-currency to buy a select range of goods and services online and offline."Inter-connecting VCpay™ and BitX means that anyone who has Bitcoin will be able use MVCs from their mobile device, completely offline and without the need to access a mobile phone network," says Belamant. "Customers can then use these MVCs to pay for goods and services online or at any merchant that accepts debit or credit card payments, or they can transfer funds to family or friends who do not own Bitcoin via standard remittance applications."
Users activate VCpay™ by following a simple over-the-air registration process and linking the application to numerous funding options, including credit cards, EFTs, direct top-ups, crypto-currencies and more. VCpay™ provides a secure alternative to conventional plastic cards by using existing international payment structures. MVC technology can thus be used anywhere in the world, without requiring merchants to make any changes to their hardware or software platforms. MVC is also NFC ready and can be used to transact at NFC enabled points of sale.
The deal between VCpay™ and BitX will make it possible for Bitcoin users to integrate the various virtual worlds in which they operate in order for them to gain tangible benefits. For example, an MMO ("Massively Multiplayer Online") gamer will be able to sell materials within the game in exchange for Bitcoins and will then be able to generate a VCpay™ MVC to pay for his UBER ride. Alternatively, he could speculate in Bitcoins on BitX and convert his balance or gains into a VCpay™ MVC to spend anywhere online.
"We look forward to rolling out this technology over the coming months, and whilst users will be able to spend their Bitcoin funded virtual card anywhere in the world, the initial target markets include Europe, Singapore, Philippines, South Africa, Nigeria, Kenya, Malaysia and Indonesia," adds Belamant.About ZAZOO(www.zazooltd.com)ZAZOO is an aggregation of innovative technology companies and a leading provider of payment solutions and transaction processing services. ZAZOO's diverse product offering is consolidated into five primary business lines, namely: Mobile Banking, MNO Solutions, Third Party Payments, Cryptography, and Smart Card technologies.
About Net 1 UEPS Technologies, Inc. (www.net1.com)Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic Payment System ("UEPS"), to facilitate biometrically secure, real-time electronic transaction processing to unbanked and under-banked populations of developing economies around the world in an online or offline environment. Net1's UEPS/EMV solution is interoperable with global EMV standards that seamlessly permit access to all the UEPS functionality in a traditional EMV environment. In addition to payments, UEPS can be used for banking, healthcare management, payroll, remittances, voting and identification. Net1 operates market-leading payment processors in South Africa and the Republic of Korea. In addition, Net1's proprietary MVC technology offers secure mobile payments and banking services in developed and emerging countries. Net1 has a primary listing on NASDAQ and a secondary listing on the Johannesburg Stock Exchange.
About BitX (https://bitx.co/)BitX was founded in 2013 and is headquartered in Singapore with offices in Cape Town and Jakarta. The company aims to make money frictionless and universally accessible by building an open, intelligent global platform that leverages the most optimal technologies available, including Bitcoin and the blockchain. || The 'Wolf of WhatsApp' wants to sell you penny stocks: (Paramount)The “pump and dump” scam is a classic stock trick.
Someone ruthlessly promotes a stock they hold, driving up the price based on artificial interest, and then sells before everyone realizes the interest was just manufactured.
Oftentimes, those stocks are “penny stocks,” which don’t trade on an exchange and are worth only a few cents a share.
Real life “Wolf of Wall Street” Jordan Belfort was famous for perfecting the pump and dumpto the tune of millions of dollarsfor himself and his posse.
But on Friday a new cadre of penny stock villains struck, this time on the popular messaging app WhatsApp.
I first noticed the scam when a friend of mine posted this screenshot on Facebook along with the caption,“Umm...What? Someone got the serious wrong number on Whatsapp.”
(Facebook)
But I didn’t put the pieces of the scam together untilThe Awl’sJohn Herrmanpointed out that the spam seemed to be part of a coordinated pump and dump scheme.
AVRN is the stock sign for Avra, Inc., which is a digital currency (think Bitcoin) company.
And the scam seems to have been dastardly effective. As you can see from this chart from Yahoo Finance, the stock for Avra shot up at around 11 a.m. before crashing shortly thereafter:
(Yahoo Finance)
Some people were clearly fooled, and assuming the scammers timed it right and didn’t totally bungle the operation, they probably made some cash.
This isn’t the first time that potential pump and dumpers have used an innovative messaging medium to cut through the noise.Last month,Twitter shares spikedbased on a phony report on awebsite made to look like Bloomberg.com. The story had said that Twitter was fielding an offer to be taken over for $31 billion.
NOW WATCH:The story behind the famously offensive twitter account that parodies Wall Street culture
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• Here's what to expect from the next iPhone's camera, according to a person who's making it
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• It's no longer all about ads — Here's how publishers, streaming sites, and apps are using subscriptions to boost revenues || Bitcoin Driven HashingSpace Launches HashScanner to Maximize Bitcoin Payouts: HashingSpace Corporation (HSHS) Announced Today That It Has Launched a New Service, HashScanner, to Maximize Bitcoin Mining Capabilities. HashingSpace's Mission Is to Build out Key Infrastructure for the Global Adoption of Bitcoin and Blockchain Services with Hosted ASIC Mining
WENATCHEE, WA / ACCESSWIRE /September 1, 2015 /HashingSpace Corporation (OTCQB: HSHS), a Bitcoin ASIC mining and hosting company, announced today that the company has made available HashScanner, a proprietary service to maximize Bitcoin payouts for HashingSpace miners.
The new service allows miners to scan P2Pools to see which has the lowest latency. It also shows pools score, efficiencies, uptime, location, fees, hash rate and version number. This free service shows how HASHPOOL ranks with HashingSpace's 13 nodes located across the world. Our HashPool.com mining pools are GEO-IP load balanced through DNS to allow mining pools one address, which load balances and fails over for all of our the nodes. We also allow for individual node access.
"We are excited to bring to the Bitcoin marketplace this free HashScanner service. We feel it is well designed and user friendly. It is a definitive source for the highest paying p2pool mining pools. This allows our customers to maximize their mining capabilities and increase their profits and shows how HashPool ranks among the P2Pools," stated Timothy Roberts, CEO of HashingSpace Corporation. "This completes another goal of ours to provide intuitive, convenient, robust and secure bitcoin solutions to the Bitcoin community."
HashScanner can be accessed atwww.hashscanner.comand also through the HashingSpace mining portal atwww.hashpool.com.
HashingSpace Corporation's business will provide a wide range of services to include:
FORTRESS ONE HOSTING:Tier 3+ Enterprise Class, Green High Intensity Hosting for Blockchain
CRYPTOHASH HOSTING:Tier 1 Green High Intensity Hosting for Crypto Currency ASIC Mining
CLOUDHASH:Cloud mining servers that can be rented with full hashing power
HASHMINING:Our own Mining Farm
HASHATM:Owner and operator of Bitcoin ATM machines
HASHWALLET:Bitcoin consumer wallet for bitcoin banking and transactions
HASHPOOL:Public Stratum and P2Pool (Web/IOS/Droid)
HASHTICKER:Free Ticker for tracking Bitcoin Value (Screen Saver/Web/IOS/Droid)
HASHVAR:A wholesaler of Bitcoin servers and Bitcoin ATM machines
All company information, including stock trading, filings, and market data related to the company, is reported under the ticker symbol, HSHS.
About HashingSpace Corporation
HashingSpace Corporation is a Bitcoin ASIC mining company, hosting provider, and service provider of blockchain transactional services. HashingSpace's high density datacenters are designed to meet the demanding power and cooling needs of client hosted Bitcoin mining gear with unparalleled pricing, cooling and green energy. The Corporation is continuing to expand its datacenters to satisfy the shortage of low cost hosting facilities catering to the Bitcoin and blockchain mining and transactional verification services industry specifically.
HashingSpace Corporation manages HashWallet, a Bitcoin wallet; HashPool, a Bitcoin mining pool; and HashATM, the owner and operator of Bitcoin ATM machines. The company is a wholesaler of Bitcoin mining servers and Bitcoin ATM machines. Bitcoin businesses interested in reselling HashingSpace products and services are invited to reach out to HashingSpace Corporation for more information.
HashingSpace Corporation is headquartered in Wenatchee, Washington. For more information, visitwww.hashingspace.com.
Any unreleased services or features referenced in this or other press releases or public statements may not be currently available and may not be delivered on time or at all. Customers who purchase HashingSpace services should make their purchase decisions based upon features currently available. For more information please visithttp://www.hashingspace.comor call 1-855-HASHING (427-4464).
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact:
HashingSpace Corporation5042 Wilshire Blvd. #26900Los Angeles, CA, 90036855-HASHING (427-4464)Investor Relations:ir@hashingspace.com
SOURCE:HashingSpace Corporation
[Random Sample of Social Media Buzz (last 60 days)]
1 #BTC (#Bitcoin) quotes:
$230.08/$230.50 #Bitstamp
$229.12/$230.00 #BTCe
⇢$-1.38/$-0.08
$232.07/$232.12 #Coinbase
⇢$1.57/$2.04 || In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $1,050.70 #bitcoin #btc || BTC-E LAST 240.00€ AVERAGE 246.74€ at 7:50 UTC #Bitcoin #BTCEUR || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $56.11 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 17174.00 INR Sell : 16635.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 155.49£ $BTCGBP $btc #bitcoin 2015-09-11 03:00:03 BST || buysellbitco.in #bitcoin price in INR, Buy : 17591.00 INR Sell : 17043.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last hour, 10 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || buysellbitco.in #bitcoin price in INR, Buy : 18156.00 INR Sell : 17583.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Former New York bitcoin watchdog can't help bitcoin startups get license - Fortune http://t.co/Cbt4JhsPWh
|
Trend: up || Prices: 239.14, 236.69, 236.06, 237.55, 237.29, 238.73, 238.26, 240.38, 246.06, 242.97
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-09-03]
BTC Price: 10245.30, BTC RSI: 33.54
Gold Price: 1927.60, Gold RSI: 48.43
Oil Price: 41.37, Oil RSI: 44.50
[Random Sample of News (last 60 days)]
WikiLeaks Shop Now Accepts Bitcoin Lightning Payments: The official WikiLeaks Shop, an offshoot of the non-profit infamous for leaking government secrets, now accepts bitcoin Lightning payments. All proceeds from the online store, which sells WikiLeaks T-shirts and other swag, goes to fund WikiLeaks operations. The shop already accepts bitcoin and other popular cryptocurrencies for payments. Now, as of Tuesday, it also accepts bitcoin payments via Lightning , making the WikiLeaks Shop one of the earliest vendors to do so. The Lightning Network supports a newer, faster type of bitcoin transaction that could potentially help bitcoin scale to support many more users. But using Lightning is still somewhat experimental and risky, compared to sending transactions directly to the Bitcoin blockchain. Related: Bitcoin Wallet Electrum Now Supports Lightning, Watchtowers and Submarine Swaps Read more: Bitcoins Lightning Network Is Vulnerable to Looting: New Research Explains A WikiLeaks Shop spokesperson told CoinDesk the site added Lightning support after receiving a few requests from prospective customers. We try to offer as many crypto payment options as possible that our supporters request, as lots of supporters also love cryptocurrency, the person said. WikiLeaks an early bitcoin adopter This latest development from the WikiLeaks Shop carries historical significance since WikiLeaks was one of the first organizations to accept bitcoin in 2011 as a way to receive donations. At the time, U.S. banks were blocking payments via Visa and Mastercard to the controversial organization. Read more: WikiLeaks to Accept Additional Cryptocurrencies for Donations Related: Bitcoin's Lightning Network Is Vulnerable to 'Looting': New Research Explains I cant speak on behalf of the main organization as the shop is technically separate. However, for the shop [bitcoin] was an easy process to add as we use the CoinPayments gateway, a shop spokesperson told CoinDesk. Story continues Users who pay for items using cryptocurrency rather than traditional payment methods receive a 5% discount. We generally see most crypto orders in bitcoin, litecoin , ethereum and very few in the other altcoins, but perhaps we will have more orders with this one, the spokesperson added. Related Stories WikiLeaks Shop Now Accepts Bitcoin Lightning Payments WikiLeaks Shop Now Accepts Bitcoin Lightning Payments || Bitcoin News Roundup for July 7, 2020: WithBTCbeating precious metals, Ethereum rising and a new report out on a lightning network vulnerability, CoinDesk’s Markets Daily is back for your Bitcoin news roundup!
For early access before our regular noon Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublicaorRSS.
This episode is sponsored byBitstampandCrypto.com.
Related:Central Banks Cannot Print Jobs: Understanding Real Economic Recovery, Feat. Daniel Lacalle
Bitcoin Up 27% in First Half of 2020, Beating Gold, Silver and Platinum
Bitcoin showed its luster during the first half of 2020 amid mediocre returns from precious metals.
Ethereum Activity Metric Hits Highest Level for 2 Years
The number of activeetheraddresses just clocked a recent high, possibly thanks to its growing role in decentralized finance.
Related:China Stocks Surge and NYC Real Estate Craters: 5 Stories Shaping Markets Today
Bitcoin’s Lightning Network Is Vulnerable to ‘Looting’: New Research Explains
Computer scientists Jona Harris and Aviv Zohar have examined the Lightning Network’s “flood and loot” attack that preys on Bitcoin network congestion.
Mercedes Maker Daimler Tests Blockchain for Supply-Chain Data Sharing
Ocean Protocol has completed a proof-of-concept with Daimler, showing how the Mercedes-Benz maker can begin monetizing data across its supply chains.
Block.One Co-Founder Brock Pierce Files to Run for US President
Brock Pierce has formally filed to run for president of the United States.
For early access before our regular noon Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublicaorRSS.
• Bitcoin News Roundup for July 7, 2020
• Bitcoin News Roundup for July 7, 2020 || WEI Art Collections Unveils New Multi-Million Dollar Contemporary Art Collection Commemorating Bitcoin and Ethereum: DUBAI, UAE / ACCESSWIRE / July 17, 2020 /WEI Art Collectionshas stayed true to the meaning of their name with a new art collection. WEI means extraordinary and WEI Art Collections is again set to excite the creative industry with their latest multi-million-dollar contemporary private art collection to celebrate blockchain technology. The new series is an unprecedented fusion of crypto-currency and art.
WEI Art Collectionshas carved a niche for creating the finest, most extraordinary abstract, contemporary, and crypto art. With a team of talented and well-respected artists from different parts of the world, representing numerous cultural, ethnic, and racially diverse creative talent, the platform has provided art collectors as well as corporate and technology leaders with an opportunity to acquire exclusive works of art from the WEI Art Collections series.
The WEI Art Collections Innovation Series is specifically put together for crypto-currency whales, art buyers, and advocates of the blockchain technology. The series also has its obvious appeal to professionals in the financial sector. The latest collection is coming at the most ideal time, with the world rapidly embracing the features and benefits of crypto-currency and blockchain technology.
In the fall of 2018, billionaire and abstract contemporary art collector Adam Lindemann, amongst the world's leading art collectors, stated in an article in Bloomberg news byKatya Kazakinaon November 29 as follows: "Everyone is talking about blockchain, but no one really understands it," said Lindemann, 57, referring to the technology that supports Bitcoin and other cryptocurrencies. "This is the right time to think about art and tech."
As the mp3 file undeniably influenced and redefined how the world listens to music, blockchain technology is destined to be applied in numerous industries. The use of crypto-currency has become increasingly popular in recent times, with experts predicting growth to the tune of tens of trillions of dollars in the near future. The International Monetary Fund has also substantiated the claim, commenting on the advantages and stability crypto-currency values will enjoy as world economies and fiat currencies continue to falter. However, the creative industry has been seemingly silent on the subject of crypto-currency and this is where WEI Art Collections is looking to change the narrative with the WEI Art Collections Innovation Series.
WEI Art Collections initially features the top three of the most prominent crypto-currencies destined for global dominance in the blockchain, global banking, and financial industries. There is also the Innovation Series 21 featuring 21 unique works, developed exclusively featuring Bitcoin. The series is developed in commemoration of Bitcoins issuance of 21 million coins.WEI Art Collections exemplifies the pinnacle of the crypto-art medium, engaging and employing emerging artists directly.
The mission of WEI Art Collections is to be amongst the premier contemporary abstract and cryptography art designers/producers/collectors, featuring works that celebrate the bourgeoning field of Cryptography through the new world technology of blockchain digital assets. Owning an exclusive work from the WEI Art Collections Series will also serve as an investment that will go down in history and appreciate over time. For more information about the WEI Art Collections and how to be a part of this art world innovation please visithttps:/weiartcollections.art/Media contactCompany: WEI Art CollectionsContact: Jean MarquetteE-mail:info@weiartcollections.artWebsite:https://weiartcollections.art
SOURCE:WEI Art Collections
View source version on accesswire.com:https://www.accesswire.com/597905/WEI-Art-Collections-Unveils-New-Multi-Million-Dollar-Contemporary-Art-Collection-Commemorating-Bitcoin-and-Ethereum || Bitcoin Entering New Adoption Cycle, Coin Metrics Exec Says: Bitcoin user adoption looks to be gathering pace as its price rises amid a coronavirus-induced rush for assets with safe-haven appeal. The number of bitcoin addresses holding at least $10-worth of cryptocurrency recently rose to a record high of 16.6 million, according to data source Coin Metrics That number is now up 14% from the previous peak of 14.5 million reached in January 2018, soon after the cryptocurrencys all-time price high of $20,000. Essentially, there are now more addresses with a small balance than were seen at the height of the previous bull market. The data suggests a new bitcoin adoption cycle is brewing, according to Lucas Nuzzi, network data product manager at crypto data provider Coin Metrics. Address growth is not a precise indicator of bitcoins user base because a single individual or entity can hold multiple addresses. Adoption has gone up by 27% in the 4.5 months since the major crash in mid-March. Bitcoins price has rallied by over 200% during the same period, and is up 64% year to date. Relatively scarce assets like bitcoin and gold seem to have benefited from fears of a dwindling U.S. dollar and the inflation-boosting policies of central banks and governments. Looking ahead Some analysts expect bitcoins price to challenge record highs by the end of December. Continued price gains could have an exponential effect on user growth as FOMO (fear of missing out) hits consumers. Bitcoin may have a tough time scaling $12,000 in the short run if traders and crypto miners take advantage of the recent price rise and liquidate holdings. As per Chainalysis Market Intel , 230,000 BTC (worth around $2.6 billion) with an on-paper profit of 25% or more were sent to exchanges last week. Its not known whether, or how many of, these coins were liquidated during Sundays sell-off . Bitcoin is trading near $11,700 at press time, representing a 0.5% drop on the day. Correction (13:10 UTC, Aug. 8, 2020): An earlier version of this article erroneously stated Lucas Nuzzi was from Messari. This has been corrected . Story continues Also read: Bitcoin Price Rises 3% as Gold Trades Above $2K for First Time Related Stories Bitcoin Entering New Adoption Cycle, Coin Metrics Exec Says Bitcoin Entering New Adoption Cycle, Coin Metrics Exec Says Bitcoin Entering New Adoption Cycle, Coin Metrics Exec Says Bitcoin Entering New Adoption Cycle, Coin Metrics Exec Says || Binance Pool Poised to Grab More Bitcoin Hashrate in Russia and Central Asia: Binance is looking to consolidate morebitcoinmining hashrate to its pool in Russia and the Central Asia region.
The world’s largest crypto exchange is deploying a physical server node for its pool at BitRiver, the largest bitcoin mining hosting provider in Bratsk, Russia. The move would give miner owners at BitRiver who choose to switch to Binance a better connection and direct route to its mining pool, the two firms said in an announcement Friday.
In return, Binance would gain exposure and access to customers who run their machines at BitRiver, which currently operates mining facilities at a capacity of 70 megawatt (MW) out of a full capacity of 100 MW.
Related:Malaysia Crackdown Unlikely to Affect Binance, eToro
According to the Bitcoin mining map compiled by theCenter for Alternative Finance, affiliated with the University of Cambridge, the current monthly average hashrate from miners in Russia is at 6.08% of the network’s total, with a slight growth from 5.93% that was reported in September 2019.
See also:Bitcoin Mining Difficulty Sets New Record High 2 Months After Halving
Similarly, miners in Kazakhstan are estimated to contribute to 3.14% of Bitcoin’s total hashrate, which has grown from 1.42% that was recorded in Q3 last year. Meanwhile, the map shows China’s average Bitcoin hashrate dominance has dropped slightly from 75% recorded in Q3 2019 to now 71%.
Currently, nine out the 10 biggest bitcoin mining pools by hash rate are either home-grown companies in China or owned by crypto exchanges with strong roots in the Chinese market.
Related:Binance CEO Criticizes Twitter Security After Coordinated Attack on Prominent Accounts
If assuming on average customers at BitRiver are using relatively more state-of-the-art bitcoin mining machines, like Bitmain’s AntMiner S17s or equivalent models with an efficiency level of about 50 watt per terahash second (W/T), BitRiver’s bitcoin mining farms could boast a total hashrate of over 1,000 petahash per second (PH/s).
While that level of hashrate may only account for about 1% of the total computing power on Bitcoin, the deal underscores Binance’s strategy of absorbing bitcoin miners in different regions – with somewhat aggressive pricing plans since its launch – into its exchange functions, including spots, futures and margin trading.
“Binance Pool offers a highly competitive fee structure to institutional-scale miners, who are the customers of our data center,” Igor Runets, CEO at BitRiver said in the announcement.
He estimates that up to 50% of the farms’ hashrate from its customers may switch to Binance Pool, following the deal. These clients will mostly switch from the Bitmain controlled BTC.com pool, Runets added.
The two parties did not disclose whether or how Binance is offering discounted fees to attract customers at BitRiver. But lower-than-market rate is one of the key measures that Binance has taken to stir up the Bitcoin mining pool competition even though the revenue made from such business is negligible compared to its trading side. Binance is also reaching out to the miners in Kazakhstan, two of them told CoinDesk.
See also:Bitcoin Miner Maker Canaan Drops 3 Directors in Possible Boardroom Coup
The exchangerolled outits bitcoin mining service in late April, has amassed around 7,000 PH/s of bitcoin hashrate and is currently the eighth-biggest bitcoin mining pool, following its competitors Huobi and OKEx.
It adopted the so called Fully-Pay-Per-Share (FPPS) model and initially offered zero fees and right now charges less than 2.5%. But in some cases, the fee offered to large-scale miner operators can be below 1%. Meanwhile, other major bitcoin mining pools like F2Pool and PoolIn have reduced their fees from previously 4% to 2.5%, although larger customers also do have the flexibility of a further discount.
The FPPS model means a pool only charges an agreed fee for the block subsidy in every block it mined and then distribute the block subsidies as well as transaction fees to miners proportionally based on their contribution.
Based on a Binance Pool business proposal deck CoinDesk obtained, the exchange categorizes its miner customers into nine levels. Those with over 500 PH/s are labeled as VIP9, the highest ranking, which would equal to a VIP9 in its trading business, who are offered an exchange trading fee of as low as 0.015%.
Bitcoin blockchain datashowsBinance Pool has mined 485 blocks as of writing since it went live with total block subsidies of over 3,000 bitcoin. Even at a 2.5% fee, the fees generated would be around half a million dollars.
Anna Baydakova contributed reporting.
• Binance Pool Poised to Grab More Bitcoin Hashrate in Russia and Central Asia
• Binance Pool Poised to Grab More Bitcoin Hashrate in Russia and Central Asia || Bitcoin and Cardano’s ADA Weekly Technical Analysis – July 13th, 2020: Bitcoin rose by 2.50% in the week ending 12thJuly. Reversing a 1.46% loss from the previous week, Bitcoin ended the week at $9,315.8.
It was a bullish start to the week. Bitcoin rose from a Monday intraweek low $9,075.8 to a Wednesday intraweek high $9,497.2.
Bitcoin broke through the first major resistance level at $9,282 to come up against the second major resistance level at $9,480.0.
Hitting reverse mid-week, Bitcoin fell back through the major resistance levels to $9,133 levels before finding support.
In spite of a choppy end to the week, Bitcoin managed to recover to $9,300 levels on Sunday to close out the week in the green.
4-days in the green that included a 3.05% rally on Monday delivered the upside for the week.
Bitcoin would need to avoid a fall back through $9,296 pivot to bring the first major resistance level at $9,517 into play.
Support from the broader market would be needed for Bitcoin to break out from last week’s high $9,497.2.
Barring an extended crypto rally, the first major resistance level and last week’s high $9,497.2 would likely cap any upside.
In the event of a breakout, Bitcoin could take a run at $9,700 levels before any pullback. The second major resistance level at $9,718 would likely cap any upside, however.
Failure to avoid a fall through the $9,296 pivot would bring support levels into play.
A pullback through to sub-$9,200 levels would bring the first major support level at $9,095 into play.
Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$8,900 levels. The 23.6% FIB of $8,900 should limit any downside in the week.
At the time of writing, Bitcoin was down by 0.20% to $9,297.6. A mixed start to the week saw Bitcoin rise to an early Monday high $9,330.0 before falling to a low $9,286.7.
Bitcoin left the major support and resistance levels untested at the start of the week.
Cardano’s ADA rallied by 29.24% in the week ending 12thJuly. Following on from a 22.23% breakout from the previous week, Cardano’s ADA ended the week at $0.12694.
It was another particularly bullish week for Cardano’s ADA.
Cardano’s ADA rallied from a Monday intraweek low $0.095226 to a Wednesday intraweek high $0.14087.
Steering clear of the major support levels, Cardano’s ADA broke through the major resistance levels.
More significantly, Cardano’s ADA broke through the 23.6% FIB of $0.1125 to hit $0.14 levels for the 1sttime since August 2018.
A 2ndhalf of the week pullback saw Cardano’s ADA fall through the third major resistance level at $0.13955 and second major resistance level at $0.11644.
Finding support at the first major resistance level at $0.10732, Cardano’s ADA bounced back to $0.1280 levels before easing back.
5 days in the green, that included an 11.88% surge on Tuesday and a 10.45% rally on Wednesday delivered the upside for the week. It was a 4thconsecutive weekly gain for Cardano’s ADA.
Cardano’s ADA would need to avoid a fall through the $0.1210 pivot to support a run at the first major resistance level at $0.1468.
Support from the broader market would be needed, however, for Cardano’s ADA to breakout from last week’s high $0.14087.
Barring another extended crypto rally, the first major resistance level and last week’s high would likely cap any upside.
In the event of another breakout, the second major resistance level at $0.1667 and 38.2% FIB of $0.1652 could come into play.
Failure to avoid a fall through the $0.1210 pivot could see Cardano’s ADA cough up gains from last week.
A pullback through the 23.6% FIB of $0.1125 would bring the first major support level at $0.10116 into play.
Barring an extended broader-market sell-off, however, Cardano’s ADA should steer well clear of sub-$0.090 levels. The second major support level sits at $0.07537.
At the time of writing, Cardano’s ADA was up by 2.72% to $0.13039. A bullish start to the week saw Cardano’s ADA rise from an early Monday low $0.12609 to a high $0.13295.
Cardano’s ADA left the major support and resistance levels untested at the start of the week.
Thisarticlewas originally posted on FX Empire
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• USD/JPY Fundamental Weekly Forecast – Trader Reaction to 106.706 Sets the Tone; BOJ Stands Pat || Gold Price Prediction – Prices Break Out To 8-Year Highs as US Yields Ease: Gold prices broke out closing above the August 2012 highs putting short term support near the former highs at 1,791. This was a fresh 8-year high. Gold was buoyed as US treasury prices moved higher and yields continued to dip. The dollar whipsawed and closed unchanged but this failed to generate headwinds for the yellow metal. The Labor Department reported today that firings slowed considerably in May. Trade gold with FXTM Technical Analysis Gold prices rallied on Tuesday breaking out to fresh 8-year highs. Prices are now poised to test target resistance near the August 2011 highs at $1,890. Support is seen near the 10-day moving average at 1,775 and additional support is seen near the 50-day moving average at 1,731. Short term momentum is positive as the fast stochastic recently generated a crossover buy signal. The current reading on the fast stochastic is 91, above the overbought trigger level of 80 which could foreshadow a correction. Medium-term momentum remains positive as the MACD (moving average convergence divergence) histogram prints in the black with an upward sloping trajectory which points to higher prices. JOLTS Report Show Layoffs Fell in May Job Openings and Labor Turnover Survey, a poll of employers, showed a low number of layoffs eased in May. The number of Americans dismissed from their jobs fell to match levels recorded before the coronavirus pandemic and related shutdowns caused widespread layoffs. In May, 1.8 million workers were laid off or otherwise discharged from their jobs, according to the Labor Department. That was down from 7.7 million in April and 11.5 million in March. May’s dismissals were in line with the numbers reported in January and February before the pandemic shut swaths of the U.S. economy. This article was originally posted on FX Empire More From FXEMPIRE: US Stock Market Overview – Stocks Slide Driven Lower by Energy; Consumer Staples Buck the Trend Credit/Investments Turned Into End-User Risk Again USD/JPY Price Forecast – US Dollar Grinds Against Japanese Yen Again BTC Aims At Further Growth Silver Price Daily Forecast – Silver Stays Below $18.50 Crude Oil Price Forecast – Crude Oil Markets Continue to Press Resistance View comments || Hello Pal Announces Record Results in July 2020: 30% growth from June to July
Vancouver, British Columbia--(Newsfile Corp. - August 5, 2020) -Hello Pal International Inc.(CSE: HP) (FSE: 27H) (OTC Pink: HLLPF) ("Hello Pal" or the "Company"), a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce that it achieved record receipts in July 2020 as set forth below:
Livestreaming Service
Hello Pal's livestreaming service achieved record receipts of approximately $1,425,000* in July 2020 for a three-month total of $3,689,250*. Three consecutive monthly receipts of over $1,000,000* is a significant milestone as it results in Hello Pal's Asian subsidiaries to be cash-flow positive (see chart below).
Figure 1: Receipts Chart
To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4359/61060_7e189f25d4638801_001full.jpg
"We're very pleased to have achieved yet another significant milestone in our Company's growth with a 30% increase in receipts from June to July," said KL Wong, Founder and Chairman of the Company.
User Base Performance
As of the date of the news release, Hello Pal's registered user base is over 5.1 million users from over 200 countries and regions. The positive increase in registered users continues to be driven by our livestream service.
The livestreaming service continues to be active with over 10,000 active daily users interacting with one another.
The Company continues to see the daily number of users making top-up payments increase every month. With a significant increase in user engagement on the Hello Pal platform, the company expects this to continue as new features are rolled-out.
"We are pleased our company is truly global, and will continue to rollout new products, features, to reach new markets. This provides users a social platform diversification that is less restrictive that others," said Hans Xu, Advisor of the Company
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To download Hello Pal, Language Pal, Travel Pal or the proprietary Phrasebooks please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website athellopal.com. Email inquiries can be directed to:investors@hellopal.com.
About the Hello Pal Platform
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
The Hello Pal platform also includes a proprietary digital wallet allowing users to store and transfer popular digital assets and tokens, including Bitcoin and Ether, based on blockchain technology.
Hello Pal, was the first app released to the public and experienced rapid growth building a diverse and active global user base. Travel Pal and Language Pal are the first and second companion apps to launch. Both apps benefit immensely from the existing and ever expanding globally based group of users. Each new app will launch with this established rapidly growing user base accelerating their adoption.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's annual and interim financial statements available on www.sedar.com. Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
*Non-IFRS Financial Measure
Readers are cautioned that "receipts" and "cash-flow positive" are a measure not recognized under IFRS. Total receipts includes the amount of cash received by the Company and its agents from the use of the Hello Pal app. Also, "cash-flow positive" means that the monthly cash flow generated by Hello Pal's Asian subsidiary is sufficient to meet all ongoing obligations of Hello Pal's Asian subsidiary. Under IFRS, total receipts may be higher than revenue as a portion of the revenue is received by agents of Hello Pal. However, the Company's management believes that "receipts" and "cash-flow positive" provides investors with insight into management's decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, "receipts" and "cash-flow positive" also provides useful insight into the operating performance of the Hello Pal app. "Receipts" and "cash-flow positive" does not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that "receipts" and are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/61060 || Asia Pacific Stocks Stumble; Alibaba’s Hong Kong Shares Jump: Most major Asia Pacific stock indexes are set to finish lower on Wednesday after reversing earlier gains. Shares in mainland China led losses among the regional indexes. Over in New Zealand, trading on the country’s stock exchange was halted earlier on Wednesday following a potential second cyber-attack, Reuters reported citing the New Zealand Stock Exchange. In the cash market on Wednesday, Japan’s Nikkei 225 Index settled at 23290.86, down 5.91 or -0.03%. Hong Kong’s Hang Seng Index finished at 25452.73, down 33.49 or -0.13% and South Korea’s KOSPI Index closed at 2369.32, up 2.59 or +0.11%. In China, the Shanghai Index settled at 3329.74, down 43.84 or -1.30% and Australia’s S&P/ASX 200 finished at 6116.40, down 45.00 or -0.73%. Ant Group Files for Hong Kong-Shanghai IPO Ant Group, an affiliate of Alibaba, has given the first look at its financials ahead of its highly-anticipated initial public offering (IPO), in a document filed on Tuesday. The financial technology powerhouse, which is still controlled by Alibaba founder Jack Ma, reported profit of 21.9 billion Chinese Yuan ($3.2 billion) on total revenues of 72.5 billion Yuan in the first half of the year, according to the exchange filing. That represented a more than 1000% jump in profits from the same period a year ago, when the company raked in 1.9 billion Yuan. Revenues were also up significantly, climbing about 38% from the 52.5 billion Yuan the firm made in the first half of 2019. The company has not yet disclosed details about the pricing of its shares. But one analyst previously told CNBC that its market valuation could be north of $200 billion, making it larger than some of America’s biggest banks. New Zealand Stock Exchange NZX Hit by Probable Second Cyber Attack Trading on New Zealand’s stock exchange was halted on Wednesday after a likely second cyber-attack, bourse operator NZX said. NZX was working with its network service provider to fix further connectivity issues which appeared similar on Tuesday’s breakdown caused by a cyberattack, it said in a statement. Story continues Wednesday’s disruption follows a halt in its cash market Tuesday evening after a distributed denial of service (DDoS) attack impacted network connectivity. The attack was from offshore, the company said. Australia Shares Slip on Rising Virus Death Toll Australian shares snapped two straight sessions of gains on Wednesday as risk sentiment was hit by the rising coronavirus death toll in the country’s second-most populous state, although additional stimulus and hopes for a local vaccine capped losses. Victoria recorded its second-deadliest COVID-19 daily death toll on Wednesday, while the state government’s intention to extend a state of emergency of another year also weighed on the market. The benchmark stock index cut some of its losses after the government announced fresh stimulus by way of A$1 billion ($719.20 million) in defense spending to grow the military and support employment. For a look at all of today’s economic events, check out our economic calendar This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Daily Forecast – British Pound Tries To Develop Upside Momentum The Crypto Daily – The Movers and Shakers – August 26th, 2020 Bitcoin on the CME: Market Movements and Analysis European Equities: Economic Data, Geopolitics, and COVID-19 News in Focus Asia Pacific Stocks Stumble; Alibaba’s Hong Kong Shares Jump Stock Pick Update: August 26 – September 1, 2020 || Money Reimagined: This Isn’t Good for Bitcoin: No, blockchain doesnotfix this.
By “this” I don’t mean centrally controlled databases that are vulnerable to attack, the problem highlighted by thisweek’s massive Twitter hack.
I mean the meta problem of yet more bad publicity, with the word “bitcoin” again associated with fraud and unsavory behavior, a picture that cryptocurrency advocates will again struggle to avoid. That problem will indirectly but greatly contribute to ongoing public pressure for regulatory constraint on the cryptocurrency industry, which will impede innovation in the sector and its prospects to bring positive change to a broken financial system.
Related:Is Crypto Fintech? It Depends Who You Ask
A related problem is that Crypto Twitter is an echo chamber. It is too smart for its own good. Within that nerdy hive mind, form doesn’t matter. It’s all about substance.
You’re readingMoney Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’snewsletters here.
“Bitcoin isn’t a crime, it’s just code.”
“The hack will open eyes to the failings of a centralized system.”
Related:
“Decentralization is now inevitable.”
Oh, how I wish those sentiments, expressed repeatedly over Twitter this week, were absorbed by “normies.” Sadly, it won’t be the case.
In two consecutive tweets, Blockstack CEO Muneeb Ali laid out the challenge between what should be and what, sadly, will be.
Might the spectacular breach of Twitter’s defenses eventually convince people to abandon the centralized internet platforms that control their data? Maybe. But many in the mainstream will share the views of New York Magazine’s Josh Barro, whoargued, poorly,that the hack wouldn’t have happened if we banned cryptocurrencies.
Barro is a smart, influential columnist, respected on both sides of the political divide. It’s counterproductive to call him a would-be Communist “moron,”as this Crypto Twitter member did, alongside many others’ derogatory comments. It signals more about the critic than the criticism, helping perpetuate negative stereotypes of the crypto community.
A far better response came fromIdeo CoLab’s Ian Lee, who highlighted Barro’s error in conflating technology with a crime.
But in the age of social media, constructive nuance like that gets lost in the noise ofad hominemattacks and invective.
That’s a problem because Twitter is a powerful factor in public debate. The performance of the conversation – the form, as much as the substance – matters for how public opinion develops.
Andthatmatters because public opinion feeds into regulation, which in turn can impede innovation.
This comes amid signs U.S. regulators are focusing on some of the more innovative crypto financial engineering projects.
On Monday, news broke that the Securities and Exchange Commission and the Commodity and Futures Trading Commission had forced two separate settlements, worth $150,000 each, out of Abra Global, the crypto-based provider of synthetic digital asset products.
Abra, which counts American Express and Indian billionaire Ratan Tata among its investors, has long been seen as one of the most innovative companies in the crypto industry. It launched in 2014 with what was then a radical idea for a crypto-collateralized synthetic stablecoin enabling peer-to-peer remittances from the U.S. to the Philippines. (Abra wasn’t providing an actual token to users, but a contract giving them rights to a fixed-dollar value worth of underlying bitcoin, a deal it achieved via some sophisticated hedging techniques and by using the intermediary-free Bitcoin blockchain as the settlement layer.)
More recently, Abra took the same synthetic assets model to offer non-custodial derivative-like investment exposure to a range of assets, including both crypto tokens and traditional financial instruments. In effect, it allowed anyone in the world to place bets of any size on the direction of U.S. stocks and bonds.
That’s what got Abra into trouble. The SEC determined it was offering “security-based swaps,” which precluded it from selling to U.S. customers not classified as accredited investors. Although Abra took steps to geofence the American market from its product, the regulators found it hadn’t done enough.
The fines won’t derail Abra, which has a growing global base of customers. But the action underscores the challenges for crypto companies doing innovative things in the U.S. against what continues to be a somewhat hostile posture from the SEC. (The CFTC has generally taken a more accommodating stance toward cryptocurrency innovation. Its former chairman, Christopher Giancarlo, is now driving the charge for the U.S. government to embrace atokenized version of a digital dollar.)
In particular, there are risks for the Decentralized Finance, orDeFi, movement. Abra is not formally a DeFi provider, but its model – using underlying cryptocurrencies as collateral to assure stability and blockchains for an intermediary-free, low-friction settlement rail – shares similarities with this burgeoning industry.
There’s no reason to suggest DeFi leaders like MakerDAO and Compound are in breach of securities, derivatives or money transmission laws. But you can bet that Washington regulators now have their eyes on an industry that’s bringing services such as collateralized lending and interest rate benchmarking – traditionally the domain of highly regulated financial institutions – into a decentralized setting.
The DeFi industry was perhaps too small to matter to regulators before this. But, although the$2.6 billion in value now locked in DeFi contractsis still just a fraction of the trillions in traditional lending markets, it’s now big enough to get on regulators’ radars.
This is why the Twitter fallout matters. If “cryptocurrency” continues to be a dirty word in Washington, political pressure will come to bear on the agencies seeking to regulate the industry.
DeFi is not immune from all that.
To be sure, the industry could benefit from more smart regulation. Legal clarity and reliable protection from scammers could help expand DeFi adoption and drive progress from a speculative ecosystem to one that generates valuable credit products and risk management tools.
But if the regulatory backlash is too blunt, it could do great harm to innovation. DeFi development can and will continue offshore. But as Abra’s experience shows, the global digital economy’s borderless nature makes it hard for companies to comply with regulations everywhere even when they want to. So the regulatory risk will continue to dangle over the heads of innovators.
That’s a pity, because while participants face real risks in the freewheeling, unregulated world of DeFi, the ideas generated there offer an exciting reimagining of the financial system. Whether it ends up looking anything like the current Ethereum-based DeFi ecosystem or something else, the prospect of reducing gatekeeper friction in finance is appealing in a world where exclusion from credit often defines the difference between rich and poor.
DeFi leaders have lawyered up in a bid to stay compliant. Some of the issues they face were discussed in a DeFi regulationworkshopCoinDesk hosted during our virtual Consensus: Distributed event in May. There, Ropes & Grey attorney Marta Belcher eloquently argued that regulators may even be in breach of developers’ First Amendment constitutional rights if they constrain efforts to writing open-source code for decentralized communities.
But do not underestimate the power of Washington or the extent to which social media-infused hysteria can energize those who wield that power.
This is why the messaging around events like this Twitter attack matters. At times like this, crypto thought leaders should all try to take the high road.
CoinDesk Research covers quarterly data in crypto markets including volatility, correlation, volume and returns of the CoinDesk 20 list of crypto assets. In this report, we also cover derivatives markets, synthetic bitcoins,BTCversusETH, central bank digital currencies and the return of aging bitcoin mining equipment; and look at the relationship (or lack thereof) between online sports betting and crypto markets. Sign up todownload the free report.
A common theme here at Money Reimagined is the current financial system tends to serve those with access to financial assets while creating barriers for those on the lower rungs of society. This is a particularly important issue for assessing the impact of the Federal Reserve’s massive quantitative easing program in response to the COVID-19 crisis. I continue to believe the real risks from that program, at least for now, lie far more with asset price inflation, and its accompanying impact on income inequality, than with inflation. Global demand for dollars is just too big and the economic fallout from the pandemic too great for any monetary oversupply to unleash an accelerated increase in consumer prices.
So, it was quite impactful for me this week to discover the annotated historical charts on equality presented in a colorfully named site I’d never encountered before:WTFHappenedin1971. The reference to 1971 is, of course, the so-called “Nixon Shock,” the moment when the U.S. took the dollar off its peg to gold, abandoning the core anchor of the Bretton Woods global financial system established in 1944. It was also when the world’s central banks suddenly gained fiat monetary powers, an unimpeded capacity to create money, the very powers the Fed is now drawing on to fight the COVID-19 recession.
The classic hard money, anti-1971 argument is that central banks degrade people’s wealth by inflating the monetary base, though strong arguments are made on the other side that fiat monetary creation power enables them to better manage economic cycles, and that a contained amount of inflation is necessary to achieve that. That debate hasn’t been resolved for centuries and may never be. Perhaps it’s less controversial to talk about the unequal distribution of that monetary policy’s impact. This chart from WTFHappenedin1971 shows the effect on income equality since those monetary powers were given to central banks half a century ago.
Notably, the chart is from the Center on Budget and Policy Priorities, a think tank typically described as “progressive” and that earns a“Left” rating on the spectrum provided by AllSides.com. It’s not the only one from a left-leaning organization that’s included in The WTFHappenedin1971 site. Another from the Economic Policy Institute shows a striking divergence between productivity expansion and the relative stagnation of real wages since 1971.
In other words, a site that’s implicitly making the typically conservative argument for a return to the gold standard or to bitcoin-like hard money principles is cleverly drawing on the observations of the left to make its point. The American left typically favors government activism via money and fiscal policy to attack poverty, not strict constraints on monetary issuance.
Libertarians argue, with some validity, the left simply doesn’t see how fiat money inflation hurts the poor by eating into their buying power. But the left says that’s offset by the benefits of higher income from jobs created via monetary stimulus and easier credit.
Where might these positions align around this clear inequality divide? Around something that I see as a bigger reason to embrace decentralized, peer-to-peer cryptocurrencies than the strict scarcity function of bitcoin’s monetary policy: the excessive power of financial intermediaries. Inequality has gone hand in hand with the financialization of the American economy, where finance and financial groups have held increasing sway over the economy. That trend accelerated dramatically in the post-1971 era because of the political and economic clout that Wall Street earned for itself as the de facto agents of monetary and financial regulatory policy. Disintermediatingthatis where the real opportunities lie for crypto.
CHIMERICA. Before there were reserve-backed stablecoins liketetherandUSDC, there were currency boards. Under that rigid currency peg model, a country’s monetary authority commits to hold in reserve the full value of its currency in some other country’s currency and promises holders of the local currency to honor any redemption requests at a fixed exchange rate. Some currency boards have failed spectacularly – Argentina’s is the case par excellence – but some have been a force for stability and growth. Hong Kong’s “Linked Exchange Rate System,” which has pegged the Hong Kong dollar to the U.S. dollar since 1983, is mostly an example of success. That’s probably because, unlike Argentina’s agricultural export-driven economy, Hong Kong’s revolves around finance, which thrives on stability. Ending the peg would be extremely harmful to that economy, which is why hawks within the Trump Administration were reportedly keen to undermine it in retaliation for China’s increasing control over HK’s citizens. This week less trigger-happy souls apparently won the day asTrump ruled out taking such action.
Presumably, someone demonstrated to Trump the enormous harm such actions would have on American financial interests. The peg creates strong synchronicity between U.S. banks and the many foreign-owned banks (including U.S. subsidiaries) based in Hong Kong. Hurting them would diminish the United States’ global financial clout. It might also incentivize China to retaliate by dumping its giant holdings of U.S. Treasury bonds to accelerate the end of the dollar’s reserve currency status. However, as with U.S. interests in the Hong Kong peg, such actions by Beijing would be counter to China’s interests in financial stability. Whether they like it or not, both countries are joined at the hip by intertwined policy structures, forming what the financial historian Niall Ferguson and the economist Moritz Schularick described as“Chimerica.”
HOME SWEET BANK.If there’s a number from this past week that matters for the prospects of U.S. economic recovery, it’s 2.98 percent.That’s the record-low level to which U.S. mortgage rates droppedas the continued economic crisis and the Fed’s relentless monetary expansion efforts pushed benchmark bond yields ever lower. This powerful market shift has the potential to work as a countervailing force for economic recovery. Some 65 percent American households own their home, and there’s now an incentive for them to refinance their mortgages or take out a home equity loan, creating financial liquidity that’s much needed in these difficult times. Americans might not have direct access to the Fed stimulus dollars slushing around financial markets, but in this way they can turn the equity in their home into something of a bank.
MODELING VALUE.Valuing crypto assets has been a challenge for some time. How does one put a value on a token without an explicit return built into it, such as a promise of interest payments or dividends, or a real-world utility function such as oil or some other commodity? Well, analysts are still trying to figure that out, with multiple methodologies being applied.In this report,the first of two on crypto valuation by Coin Metrics, partners in our new Research Hub, Kevin Lu and other members of the team lay out a series of quite different approaches. All have some merit. But of course the lack of consistency makes it hard to settle on a commonly held market view. Should we be worried about that? How can something be considered valuable if there’s no consensus on how to measure that value? Never fear, says Coin Metrics, this is a process that takes time. And to back that up, they conclude with this statement: “The Dutch East India Company, founded in 1602, was the first corporate entity to issue bonds and shares to the public, and in doing so became the world’s first formally listed public company. It then took a period of over 300 years for the necessary foundational concepts to be developed until the formal discipline of equity valuation was established in the 1930s.”
Everything We Know About the Bitcoin Scam Rocking Twitter’s Most Prominent Accounts. Among Crypto Twitter dwellers, for whom the meme flow of the cryptocurrency community is like a lifeblood, Wednesday’s massive hack against the social media platform felt profoundly disorientating. CoinDesk reporter Danny Nelson’s tick-tock breakdown makes for compelling reading on how the crisis rapidly mushroomed.
Hong Kong Citizens Turn to Stablecoins to Resist National Security Law. Hong Kongers may not yet need to fear the end of their currency’s dollar peg, but many are now fearing surveillance of their HK dollar transactions after the introduction of a new security law that aims to quell opposition to the Chinese Communist Party. Our reporter David Pan discovered that a number of them appear to have found a payment solution to avoid Beijing’s prying eyes: stablecoins.
Bank of England Considering a Central Bank Digital Currency, Governor Says. The Bank of England was one of the first major central banks to explore the prospect of a digital currency after bitcoin’s invention sparked interest in such ideas. The project then went into a kind of hiatus while former Governor Mark Carney started floating even bigger ideas with his proposal for a new digital international hegemonic currency to replace the dollar’s reserve role. Now, under new Governor Andrew Bailey, a British CBDC is back on the table, as CoinDesk’s Sebastian Sinclair reports.
Five Years On, Ethereum Really Is the ‘Minecraft of Crypto-Finance’. In the 2010s, the online world-building game Minecraft enjoyed surging popularity among pre-teens and teenagers – a generation that included a young Russian-Canadian called Vitalik Buterin. This opinion piece from Camila Russo, author of the new book “The Infinite Machine,” offers a reminder of just how young Buterin was (19 years old) when he invented Ethereum.
Russian Activists Use Bitcoin, and the Kremlin Doesn’t Like It. In Russia, it often seems President Vladimir Putin controls everything – most importantly, national elections, in which he routinely earns overwhelming majorities in the popular vote. But as CoinDesk’s Anna Baydakova reports, he can’t control Bitcoin, which gives Putin’s opponents a type of freedom they otherwise struggle to obtain.
How a Digital Dollar Can Make the Financial System More Equitable. If we want digital dollars to foster a more equitable financial system, design is everything, say Patrick Murck and Linda Jeng, both lawyers at Transparent Systems. They offer a radical proposal for achieving such results: a cooperative model that puts community ownership and governance, rather than centralized or corporate control, at the core of the digital currency network.
• Money Reimagined: This Isn’t Good for Bitcoin
• Money Reimagined: This Isn’t Good for Bitcoin
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 10511.81, 10169.57, 10280.35, 10369.56, 10131.52, 10242.35, 10363.14, 10400.92, 10442.17, 10323.76
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-04-22]
BTC Price: 7117.21, BTC RSI: 53.46
Gold Price: 1728.70, Gold RSI: 59.73
Oil Price: 13.78, Oil RSI: 46.99
[Random Sample of News (last 60 days)]
Yemen’s Civil War Shows the Dangers of Crypto: The Takeaway: Yemen, home to what the United Nations calls the world’s biggest humanitarian crisis, is in a state of civil war. Half of the country is controlled by the Iran-backed Houthi militant group, which has developed its own cryptocurrency. People from Yemen are often wary of being associated with cryptocurrency, in part because of the Houthis’ crypto efforts. Despite the potential advantages of a trans-national, censorship-resistant cryptocurrency in the country, connectivity issues make it very hard to get bitcoin into this war zone. “It’s too soon for bitcoin,” one researcher said. So far, it appears using bitcoin (BTC) in a war zone may be riskier than cash, especially when illicit actors use cryptocurrency as well as civilians. The ongoing civil war in Yemen highlights the contradictions underlying bitcoin adoption: It’s difficult for civilians to acquire cryptocurrency without heavily regulated infrastructure that makes them vulnerable to coercion and surveillance. Such is the case in Yemen, where the Iran-backed Houthi militia controls the northern half of the country and a failing government controls the central bank in the south. Related: Bitcoin Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed, BOJ For most people in Yemen, purchasing bitcoin is nearly impossible. Most international companies avoid doing business in Yemen due to concerns over U.S. sanctions , which aren’t comprehensive like the sanctions against Iran but nonetheless raise compliance questions. This week the United Nations Security Council approved further sanctions against Yemen in an attempt to curtail arms trading between Iran and the Houthis. With the Houthis now functionally governing the northern half of the country, the Trump administration may reportedly suspend humanitarian aid. “Everyone’s looking at a timeline of a month or two. … That’s the point at which different [donors] will start to suspend some of the programs,” a senior U.S. State Department official told Reuters on Tuesday. Story continues Plus, peer-to-peer markets are hampered by both cash shortages and a lack of reliable communications infrastructure. Yemeni-American researcher Ibraham Qatabi at the Center for Constitutional Rights said telecom and electricity companies are owned by governments , both foreign and domestic , depending on the region . There’s no need for a warrant if Big Brother already owns the pipes. Plus, Qatabi said, most international money transfers are monitored by local authorities. “Everything is monitored. They have everyone’s information,” Qatabi said. “If they want to go after somebody, they’ll have access to those files.” Related: Bitcoin, Uncertainty and the Ultimate Narrative Hamza Alshargabi, a doctor who worked in Yemen until 2012 and briefly mined ether (ETH) after he immigrated to the U.S., agreed it’s “almost impossible” to get a safe and reliable internet or phone connection in most of Yemen. He said in big cities connectivity is “so expensive that it’s unusable,” so he can’t imagine his sister using bitcoin in Yemen. Although someday mesh networks may help bitcoiners transact without reliable internet, there’s hardly any bitcoin to trade on the ground. Meanwhile, it appears the Houthis are promoting cryptocurrency adoption, just not censorship-resistant bitcoin. According to a report from the Yemen-focused Sana’a Center for Strategic Studies (SCSS) in December 2019 the Houthi militia instructed civilians in northern Yemen to trade in the internationally recognized bills for “an equivalent amount of e-Rials,” a cryptocurrency developed by the militant group. As such, some Yemeni civilians and expats are scared to be associated with cryptocurrency, including bitcoin. If protests last year in Iran and Lebanon offered a peek at bitcoin’s limitations, then Yemen is the full picture of bitcoin usage still relying on government infrastructure. Crypto wars Cryptocurrency has itself become a weapon in Yemen’s civil war. By issuing a digital currency, the Houthis strived to establish a circular economy with less dependence on banks hostile to their cause. The group even banned the possession of new Yemeni rial bills. “They are denying the government the most basic function, printing money,” Alshargabi said. “At least in Iran there is a lot of wealth and oil, commerce they can build around. … In Yemen, there’s nothing to sell.” This isn’t the Houthi’s first crypto venture . The group has been mining decentralized cryptocurrencies since 2017 , according to the cybersecurity company Recorded Future, which declined to comment for this article. It is not clear which currencies the Houthis mined. However, some Iranian military leaders are looking to create cryptocurrency tools in order to circumnavigate sanctions. And, according to the Brookings Institute , “Iran’s influence with the Houthis is growing.” Perhaps this is, in part, why the Houthis tested a payments pilot in April 2019 , using the Houthi-run Yemen Petroleum Company and other public institutions, like the Yemeni Telecommunications Corporation. But the employees protested and refused to accept e-Rial salaries. “Nine months on, the e-Rial can still only be used to pay limited expenses, such as water and electricity utility bills and mobile phone services,” the recent SCSS report noted. “There is currently no mechanism for using the e-Rial for normal daily economic activities.” One SCSS researcher, who requested anonymity for safety, said the Houthis started these cryptocurrency experiments to deal with a local cash shortage. He added bitcoin may be caught in a paradigm where, socially, people mostly trust sources a friend or relative personally vouched for. Yet, talking about bitcoin on social media or local phone networks could get that person “targeted.” (Note that all sources for this article commented from the Yemeni diaspora, due in part to what the SCSS researcher described as a “high level of scrutiny” through local telecommunications networks and “general concerns about monitoring financial activities in the area.”) That’s why Alshargabi eventually stopped mining ether in the U.S., scared the American government would profile him for additional surveillance. Even if he has no connection to illicit crypto users in Yemen, Alshargabi isn’t confident the legal system would protect a foreign-born Muslim. “How do I know I’m not going to get a knock on my door someday?” Alshargabi said. So Alshargabi sends money to family in Yemen the old-fashioned way instead. “You call your friend and say, ‘You give my mom $200 and I’ll give your mom over here $200.’ There are regular people in that type of business,” he said. Dangerous public ledgers This same ad hoc system Alshargabi uses to send his family cash also works for the few civilians in Yemen who want to own bitcoin, not e-Rials. Since most global cryptocurrency exchanges don’t accept credit cards or bank transfers from Yemen, small groups of crypto-curious Yemenites show personal relationships across the diaspora are the key to accessing bitcoin in times of crisis. Such was the case for a small group of roughly eight friends around 2018, including computer science student Manal Ghanem. She didn’t buy any herself, just played with simulations and testnets. But a few of her friends with family abroad got bitcoin by using foreign bank accounts on global exchanges. One bitcoiner would shop online for foreign products, then sell it locally for cash, she said, because shipping was the least difficult part of the cumbersome process. “I do believe with the collapsing financial institutions in Yemen, if people get a bit educated they can leverage bitcoin to their benefit,” she said. “They are eager to create new opportunities but it can be really dangerous to go online and gamble what little you have and then lose.” Her friend Faissal Alshaabi said he struggled to use exchanges in Yemen because his internet connection was too weak to even load a website. Alshaabi turned to a cloud mining service instead, but American regulators shut it down and he lost his capital. Despite all these challenges, Alshaabi said he still believes cryptocurrency could be useful inside Yemen. “It’s a fast way to send money and with low fees, so I think people would use it as payment method,” he said. In the meantime, the most important thing Yemenites can do is establish situations where they can acquire bitcoin without attracting the wrong type of attention. This education requires in-person meetings. Governments may not be able to confiscate your bitcoin, but they can take your life. “In terms of increasing awareness, that would have to be verbally transmitted,” the researcher said. “It’s too soon for bitcoin.” Related Stories Bitcoin’s Option Market Sees Low Chance of Post-Halving Rally Bitcoin Rallies After Biggest Weekly Drop Since November || A closed-end fund tied to bitcoin has been listed on the Toronto Stock Exchange: Canada’s first fund tied to bitcoin has been listed on the Toronto Stock Exchange (TSX).
Canadian asset manager 3iQ in Nov. 2019fileda prospectus for a regulated fund tied to bitcoin, appropriately dubbed The Bitcoin Fund. It is a closed-end fund aimed to add"exposure to the digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin," according to a previous press statement.
On Thursday, the fund listed 5,000,000 Class A shares on the TSX at $10 per share. It utilizes the institutional bitcoin index developed by VanEck Europe subsidiary MV Index Solutions and cryptocurrency market data firm CryptoCompare.
Similar to an exchange-traded product (ETP), the fund will expose shareholders to movements of bitcoin’s price over time. || Telegram Ruling Closes Another Door to Legally-Compliant Token Sales: Related: Telegram Hopes It Can Still Sell Tokens to Non-US Investors After Court Ruling By implication, it also ruled against every blockchain project financed through forward contracts to deliver tokens. Related Stories Dont Apply 2008 Thinking to Todays Crisis Bitcoin Is a Safe Haven for a Worse Storm Than This || Bitcoin is experiencing ‘Goldilocks’ volatility, says B2C2 founder: Bitcoin's price may not be as high as some investors would wish – but the digital asset's volatility is perfect for high-speed traders, according to an executive at one UK-based trading firm.
In an interview with The Block onMonday, B2C2 founder Max Boonen said bitcoin's volatility has hit a sweet spot for market-making firms. Such traders sit between investors, offering quotes at which market participants can purchase bitcoin. High-speed trading firms and market-making firms earn money on the spread between buy and sell orders.
Volatility has soared across allasset classesas fear of the impact of coronavirus continues to grip global markets.Cboe's Volatility Indexis up 69% over the last month.
"The volatility at the moment I think is quite Goldilocks," Boonen said. "In my opinion, the volatility we have in the market is very good. Any market-making firm should be making a lot of money."
Realized 10-day volatility for the digital asset has come down from a peak above 300% in the middle of the month to 125% on Monday, more than double from where it stood before bitcoin crashed on March 13. A higher realized 10-day volatility, the higher bitcoin's price swings over the time frame.
"We had our record day ever on the 13th," Boonen said. "The 12th was a big day but it was really when the market touched around $4,000 they reassessed their view. That's where you get the big volume."
Still, current market conditions aren't favorable for everyone, as noted by Skew's Emmanuel Goh. Liquidity in the market has dried up, as indicated by the aggregated open-interest across bitcoin futures markets. When liquidity dries up, it is harder for traders to enter and exit positions.
"The 12th of March sell-off has inflicted significant pain to some investors and market-makers, we haven't seen the number of open futures positions rebounding since then," Goh told The Block. || After Court Victory, Indian Exchanges Gear Up for Crypto Trading Surge: The decision by India’s Supreme Court to lift the central bank’s ban on cryptocurrency trading could soon translate into notable growth in trading volumes, according to cryptocurrency exchanges in the country. India’s Supreme Court on Wednesday quashed a Reserve Bank of India (RBI) order dated April 6, 2018, which prohibited banks from providing services to entities dealing with cryptocurrencies. The top court called RBI’s ban unconstitutional, bringing cheer to the crypto market community. Related: India’s Supreme Court Ruling Is a Win for the Whole Blockchain Industry Put simply, Indian traders will now be able to directly deposit Indian rupee (INR) from bank accounts to crypto exchanges. As a result, it will be more convenient for users to cash in and cash out of their holdings. “This is the first step towards embracing cryptocurrency in India, which has the potential of becoming one of the largest crypto markets.” Ashish Singhal, chief executive of the cryptocurrency exchange CoinSwitch.co, told CoinDesk. India was doing very well in terms of trading volumes, contributing about $50 million to $60 million per day before the RBI ban, according to Singhal. “In India, a huge damage was done due to the lack of awareness and RBI’s decision,” said Kumar Gaurav, founder and CEO at online crypto banking platform Cashaa. Related: Libra Plus? A New Global Digital Currency Strategy for Facebook Volumes subsequently dipped after the central bank issued banking restrictions and commercial banks responded by advising account holders not to engage in cryptocurrency transactions. For instance, Kotak Mahindra Bank, one of the largest lenders in India, has diligently sent multiple notification emails to account holders in the last two years warning against the use of credit cards for cryptocurrency exchanges. “In line with the instructions issued by RBI, we also wish to advise you that, if transactions relating to any kind of virtual currencies are witnessed on your Kotak Credit Card, the Bank shall be constrained to block your Credit Card without any further intimation,” the email reads. Story continues As a result, Indians crypto traders were forced to use peer-to-peer crypto trading platforms, which allow direct transfer of cryptocurrencies into the individual accounts without the intervention of any financial institution or government authority. However, liquidating cryptocurrency holdings is quite difficult when dealing with P2P platforms. Also, RBI’s decision was widely misinterpreted as legal ruling deeming cryptocurrency trading as an unlawful activity. With the Supreme Court’s latest ruling, the situation is widely expected to change for the good. “Crypto exchanges including WazirX will now be able to enable banking channels for fiat deposit and withdrawals,” said Nischal Shetty, founder & CEO of Mumbai-based cryptocurrency exchange WazirX, which was recently acquired by Binance , the world’s largest exchange by trading volume. Shetty expects volumes on Indian cryptocurrency exchanges to grow by 10 times in the near future. CoinSwitch’s Ashish Singhal anticipates average daily volume rising as high as $50 million to $60 million – the level seen before the RBI ban – and may surpass that level. A sharp rise in volumes cannot be ruled out in India, a country with a population of over 1 billion. The Supreme Court judgment could help erase the misconception that cryptocurrencies are illegal and may draw more investors to the market. “The clarity that the judgment has brought, will help crypto adoption as a whole and which in tune will see a spike in volume,” said CoinDCX Chief Executive Sumit Gupta. CoinDCX has actively voiced its thoughts on behalf of India’s crypto community on the RBI ban over the last two years and was quick to allow bank transfers following the ruling. Focus on compliance “The Supreme Court decision to lift the bank is a forthcoming step and cryptocurrency exchanges should now start focusing on deploying stronger know-your-client (KYC), user data privacy, and AML policies,” according to Arpit Ratan, co-founder of RegTech startup Signzy. Indeed, that would help build trust and reduce risks of cryptocurrency transactions being exploited for illegal activities, such as crimes, money laundering and tax evasions. Moreover, Indian lenders serving cryptocurrency entities will now face similar which banks in other, developed countries such as Japan, Europe, and the U.S. are facing. “Cashaa, with its huge crypto-focused customer base, can provide a powerful system that will be very helpful for RBI to understand the [anti-money laundering] issues coming due to onboarding crypto companies is needed,” said Kumar Gaurav, founder and CEO of Cashaa. Premature optimism? The general consensus is the Supreme Court’s ruling would open a path to favorable regulations towards protecting all stakeholders, including companies, customers and users. However, despite the top court’s decision, the government could still ban cryptocurrencies. “There’s still a bill that the Parliament has to discuss. It has changed shapes and forms but hopefully this will be the framework for how cryptocurrency is traded in the country,” said Prashant Swaminathan, founder and CEO of Tandem, a peer-to-peer bitcoin (BTC) trading platform told Mint, an Indian financial daily newspaper. The Indian government had submitted a draft crypto bill named entitled “Banning of Cryptocurrency & Regulation of Official Digital Currencies” to the Supreme Court in August 2019, seeking to ban the use of cryptocurrency as legal tender or currency and prohibit mining, buying, holding, selling, dealing in, issuance, disposal or use of cryptocurrency. However, the government did not introduce the draft bill in the winter session of the parliament held between Nov. 18 and Dec. 13. So the regulations and legalities of operating cryptocurrency businesses in India remain unclear. As a result, volume growth may still not be as strong as some expect. Related Stories Indian Crypto Exchange Adds Bank Transfers Hours After RBI Ban Lifted India’s Supreme Court Lifts Banking Ban on Crypto Exchanges || Tether Stablecoin Launches on Its Seventh Blockchain: Tether, the worlds largest stablecoin by market value, is now live on the Bitcoin Cash (BCH) network. Announced Thursday, Tether is using the Simple Ledger Protocol (SLP) as the technical means to launch its tether stablecoins (USDT) on the BCH blockchain. Tether aims for the tokens price to consistently match the U.S. dollar on a 1:1 ratio and backs its value with assets. Running directly on the BCH blockchain, SLP allows users to issue and manage tokens of various types. Tether said the launch means bitcoin.com wallet users which supports BCH and bitcoin (BTC) will be able to to send and receive USDT via SLP tokens, without the need for other applications. Related: Traders Finding More Arbitrage Opportunities in Bitcoin Tether is currently live on the Algorand, EOS, Ethereum, Liquid Network, Omni and Tron blockchains with a total market capitalization total units in circulation multiplied by spot price of more than $5.6 billion, according to Tether Inc.s treasury data . However, that does not seem to include any tokens on BCH as yet. Our latest collaboration with Bitcoin Cash will provide Tether with a variety of benefits, said Paolo Ardoino, Tether CTO. We expect the adoption after launch to be pretty easy for any integrator. The launch will also support more applications on the Bitcoin Cash chain, with Tether facilitating payment for these applications. Data aggregators such as Nomics, Messari and CoinMarketCap display differing data for Tethers market cap. Nick Gauthier, CTO and co-founder and Nomics, told CoinDesk the firms API now tracks Tethers total liabilities . The firm is now displaying around $5.6 billion for USDT, matching Tethers stated figure. Related: Dollar-Backed Stablecoins Are Holding Their Own Amid Coronavirus Chaos CoinMarketCap, meanwhile, is currently displaying $4.6 billion, while Messari is closer to Tethers figure with $5.2 billion. Related Stories MakerDAO Adds USDC as DeFi Collateral Following Black Thursday Chaos Binance Stablecoin BUSD Tops $100M but Lags Behind Rivals || COMM's New Project Launch Integrates Publisher and Hedge Funds on Blockchain: SINGAPORE / ACCESSWIRE / February 25, 2020 / When people talk about the biggest scientific publishers, the names Nature and Science are always included. The ongoing blockchain revolution is incubating such an excellent publishing house, that brings together different ecosystems and integrates breakthrough technologies. COMM merges into its innovative ecosystem the wisdom of an elite publisher with the profit-making power of a hedge fund, compensating contributors to both branches generously. As the issuer of COMM the digital currency, Crypto Commonwealth is considered to be a most ambitious blockchain project. Its vision is to create a COMMunity that incentivizes effort and quality of publications, with the ultimate goal to create a journal as successful as Nature and Science. The project claims to have a strong network of researchers in top universities, and plans to invite more of them to join, as well as funding their research in academia. They intend to distribute 100% net publishing profit back to the authors, editors and reviewers, paying for their contributions in their native token COMM. Excellent contributions make the ecosystem stronger, encouraging and inviting more people to play a part within as everybody looks for incentives. The Commonwealth Publisher offers three columns and targets for varied reader groups. The professional column 'Beta for Pros' is expected to cover topics typical financial journals would discuss, including macro and micro dynamics, market inefficiency, behavioral finance, strategy research, risk management and more. COMM also has two more columns intended for generic readers that serve as educational resources and crypto knowledge base, 'Beta for fun' and 'Crypto Insights'. They cover quantitative and fun crypto analysis, tokenomics and philosophies, as well as non-quantitative articles in the blockchain domain including crypto overviews, insights, token mechanism / algorithm, macro visions, blockchain techniques, etc. Story continues The long term vision of the Commonwealth Publisher is to acquire high-quality, stable submissions and a good impact factor, then start charging subscription and publishing fees as any other commercial journals. More importantly, it plans to redistribute all profits after operational costs back to the authors, editors and reviewers. This is a closed cycle that is expected to nourish and sustain the ecosystem as it starts to gain momentum. Crypto Commonwealth focuses not only on becoming a top tier publisher of all things, crypto or otherwise. It also envisions becoming a digital and traditional asset manager that outperforms BTC and the stock market in the long term. Its strategy construction follows the "trilemma in portfolio management". Under this model three variables are considered: high return, low risk, and high capacity. Those who have some experience investing in traditional or crypto assets, either in IPOs, ICOs, IEOs or directly in the secondary markets have learned, maybe the hard way, that it is not possible to embrace these three vertices simultaneously. For COMM the presence of two of these factors excludes the third as well. It is on this understanding that high return and low risk exclude high capacity, such as in alphas and high frequency trading. Crypto Commonwealth itself encompasses hedge funds including the alpha fund "Sphinx" and the smart beta fund "Stonybrook" under the high return and low risk classification. It offers detailed, professional suggestions to help investors make the most informed decisions on investment products. Profit will be redistributed back to the ecosystem in decent proportion: up to 50% of management or incentive fee would be shared among excellent authors, portfolio managers, researchers and collaborators. Strategy contributors can opt to be external or internal researchers. Internal researchers are expected to run backtests on the platform and submit alphas for centralized post-processing, including portfolio combination and optimization. However, this is by no means limited thereto. Upon proper evaluation, COMMs would be paid out as rewards, with a significant amount to be followed pending the alpha performance out-of-sample and in live trading. These of course are what could be considered the right steps to build a strong and wise COMMunity. The COMM team has a strong background in global stock and crypto markets, having amassed a good number of lowly correlated strategies at their disposal. The project is seeking to tokenize, fundraise for and commercialize them under COMM's dedicated mainnet, together with publications from interested scholars and book authors as soon as circumstances permit. Those who have been following the cryptocurrency market recognize that tokenization of traditional markets, like commodities, futures, stocks, currencies, bonds, real estate, and publishing is promised to be way bigger in capitalization than all the current cryptocurrencies. As a real pioneer in strategy and publication tokenization, COMM will certainly build a supportive and productive atmosphere for strong portfolio managers and best selling authors across the globe to participate in its ecosystem. A promising project, Crypto Commonwealth harbors the first scientific publisher and investment institute in house on blockchain. It's well backed by a COMMunity of investors, scholars, researchers and engineers. With its global payment network in play, COMM endeavors to redistribute profits fairly among its contributing members and disrupt the traditional model in both fields, benefiting the COMMunity and the public. Whitepaper: https://cryptosmartbeta.com/wp-content/uploads/docs/whitepaper_en.pdf Twitter: https://twitter.com/CryptoSmartBeta Facebook: https://www.facebook.com/Crypto-Commonwealth-102262581218579/ Telegram: https://t.me/Crypto_Commonwealth_Europe Telegram channel: https://t.me/CryptoCommonwealth_ANN LinkedIn: https://www.linkedin.com/company/cryptocommonwealth Youtube: https://bit.ly/2wHQAU5 Media Contact Company Name:Crypto Commonwealth Person:Katula Lamperouge info@cryptocommonwealth.io ICO site: cryptocommonwealth.co Main site: cryptocommonwealth.io SOURCE: Crypto Commonwealth View source version on accesswire.com: https://www.accesswire.com/577770/COMMs-New-Project-Launch-Integrates-Publisher-and-Hedge-Funds-on-Blockchain || Dutch Brokerage Launches Crypto Trading for the Euro Market: BUX, a brokerage platform based in Amsterdam, has launched cryptocurrency trading following a recent exchange acquisition.
In acompany statementissued April 8, the firm officially announced BUX Crypto – a digital assets trading platform offering a limited-time zero-commission fee structure.
At the start of the year, BUX acquired thedefunct crypto exchange, Blockport, which declared bankruptcy in a court in Amsterdam in May 2019, after running out of operating capital.
Related:Fidelity Taps ErisX Exchange to Boost Crypto Trading Liquidity
The acquisition has paved the way for the brokerage platform to begin offering cryptocurrencies toEuropean traders, pending regulatory approval by the Dutch central bank, De Nederlandsche Bank.
“We have been developing apps that fit the needs of a new generation of investors,” said Said Nick Bortot, CEO and founder at BUX in a statement.
“We see BUX Crypto as a natural extension of our current lineup … for even the newest investor to get into the financial markets,” Bortot added.
See also:Huobi Exchange Plots Return to US Crypto Market as Soon as This Month, Exec Says
Related:Huobi Exchange Plots Return to US Crypto Market as Soon as This Month, Exec Says
The new platform will allow traders to buy and sellbitcoin(BTC),ether(ETH),XRP(XRP),bitcoin cash(BCH),litecoin(LTC) and BUX Tokens (BUX) using euros, saving investors additional fees on exchange rates from U.S. dollars.
“The product roadmap will focus heavily on building unique features that can bring both beginners and advanced investors together to learn from each other,” said Sebastiaan Lichter, head of product at BUX Crypto.
• Cryptopia Users Win Victory in Court Case Over Crypto Assets Worth Over $100M
• Revolut Expands Crypto Offering – But Not in the US || Some US Citizens Look to Be Splashing Their Stimulus Cash on Cryptocurrency: Nothing screams confidence in the U.S. economy more than swapping Federal Reserve-issued money for a digital hedge against the mainstream financial system.
The U.S. government issued more than 80 million stimulus checks, each for $1,200, last week. To be deposited directly into bank accounts, the payment is intended to give citizens affected by the coronavirus a few extra dollars to pay for essentials, things such as food and utility bills.
But it appears some proportion of Americans instead of spending their stimulus check at Walmart, Amazon or wherever, may have decided to swap their dollars for crypto.
Related:European Contact Tracing Consortium Faces Wave of Defections Over Centralization Concerns
Coinbase CEO Brian Armstrong tweeted earlier on Friday his exchange had experienced a sudden spike in the number of buys and deposits worth $1,200. Up until mid-April, around 0.1 percent of total buys and deposits had been for $1,200, then it suddenly spiked nearly 0.4 percent this week, around the time many Americans started receiving their stimulus checks.
Of course, it’s impossible to say for certain if all these deposits were U.S. citizens looking for a new home for their government-issued money. The graph doesn’t specify what the split was between buys and deposits, so it’s possible some customers may have simply parked their money in the exchange. We can’t tell if these deposits even came from the U.S.
See also:Coinbase Moves to Cut Blockchain Load With Bitcoin Batching
But despite a soaring unemployment rate, most in the U.S. are still working and still getting paid. Many who are financially secure may have decided to invest, rather than spend, their stimulus checks.
Related:Coinbase Taps Ex-Barclays Markets Exec to Head Institutional Coverage
Investors aren’t just heading over to Coinbase with their stimulus money. Speaking to CoinDesk, a Binance US spokesperson confirmed they had also seen a spike in $1,200 deposits. “People do seem to have deposited exactly $1,200 into Binance US in the past couple of days,” the firm said.
Adding to the evidence, last Thursday was also the single largest day for USD deposits into Binance US for more than a month, the spokesperson added, but declined to go into the specifics of how many deposits that would be.
See also:Remote Working Proves Unexpected Hero as Half of US Economy Shifts to Home Offices
Crypto prices took a hit when COVID-19 outbreak fears peaked in March but they have since rebounded. With interest rates atrecord lowsand other assets, like equities, reporting lackluster returns, some U.S. investors may see this is as an opportunity to try a new asset class.
CoinDesk reached out to Coinbase and other exchanges for further comment, but hadn’t received a response by press time.
• Russians Withdrew a Year’s Worth of Cash in a Month Over Coronavirus Fears
• Bitcoin ATMs Expand Despite Shelter-in-Place Rules || New Zealand Plans to Drop ‘Unfavorable’ Sales Tax Treatment of Cryptocurrencies: New Zealand’s tax authority is considering changes to its treatment of cryptocurrencies that would drop the current and controversial application of goods and services tax (GST). The current regime sees bitcoin (BTC) and other digital currencies as property, with normal rules applying. That means crypto is liable for 15 percent GST when changing hands within the country as part of a business’s operations and potentially throws up a “double taxation” problem when income tax is later applied. Calling the situation “unfavorable,” the New Zealand Inland Revenue Department (IRD) has now suggested doing away with the GST liability for cryptocurrencies in many cases, but keeping the treatment for income tax. Related: IOTA Being Shut Off Is the Latest Chapter in an Absurdist History In a policy issues paper made public on Monday, the IRD states: “Because of their innovative nature, [cryptocurrencies] will often also have different features to … other investment products. This means that some existing tax rules can be difficult to apply, involve very high compliance costs or may provide policy outcomes for some crypto-assets that lead to over-taxation compared to other alternative investment products.” The overall aim of any changes would be that cryptocurrencies should have a similar treatment to other investment products or asset classes that are “close substitutes” for the digital asset. An issue being considered by the IRD is whether different types of tokens should have different tax treatments depending on how they are used. One way forward is that tokens used like currency or shares would likely not be liable to GST while other types might see the sales tax applied. Related: Wikipedia Co-Founder Says Crypto Integration Would Be ‘Completely Insane’ “An advantage of this approach is that it should provide a neutral tax treatment for those crypto-assets which are close substitutes for existing financial products such as currency or shares,” the IRD says. Story continues The tax department suggests it might still treat some tokens differently; for instance, if a token is considered to be a share “but if it does not provide an interest in a foreign company or partnership, it would still be taxed very differently to other foreign equity investments.” Yet, with thousands of tokens now available offering different use cases and features, the IRD says there may be “practical limitations” to their potential classification for tax purposes. As such, a different approach being considered is to usher in more general changes to tax rules that are seen as throwing up “the most significant policy issues when applied to crypto-assets.” “There appears to be a case to exclude most types of crypto-asset from the GST and financial arrangement rules by developing a broad definition of crypto-assets for this purpose,” says the IRD. Whatever the solution, Inland Revenue recognizes change is needed. The department says, “The current GST rules provide an uncertain and variable GST treatment making, using or investing in crypto-assets less attractive than using money or investing in other financial assets.” Parties with an interest in the issue have until April 9 to offer their opinions on the best solution. Australia, which had previously also imposed GST on some crypto transactions, ended the policy in October 2017. Singapore proposed the same policy change last summer. Related Stories Policymakers Shouldn’t Fear Digital Money: So Far It’s Maintaining the Dollar’s Status The IRS Is Inviting Crypto Firms to a ‘Summit’ in DC Next Month
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 7429.72, 7550.90, 7569.94, 7679.87, 7795.60, 7807.06, 8801.04, 8658.55, 8864.77, 8988.60
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-02-29]
BTC Price: 437.70, BTC RSI: 64.50
Gold Price: 1233.90, Gold RSI: 64.30
Oil Price: 33.75, Oil RSI: 58.10
[Random Sample of News (last 60 days)]
BTCS Announces Letter to Shareholders From CEO: ARLINGTON, VA--(Marketwired - Feb 23, 2016) - BTCS Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), a blockchain technology focused company which secures the blockchain through its transaction verification services business, released a Letter to Shareholders updating current activities and outlining its corporate strategy for 2016, as follows: Dear Shareholders, Over the past few months, several major investment banks have published research foretelling the significant potential for blockchain technologies to revolutionize industries on a massive scale. Recognizing this potential, much of our work in 2015 focused on building a strong operational foundation to capitalize on the rapidly-evolving blockchain opportunity. Despite many successes in this effort, our stock continued to decline throughout 2015 and is now trading near its 52-week low. As a significant shareholder myself, I too am feeling the pain of our low stock price, and I firmly believe it is not representative of our accomplishments or potential. BTCS originally began operations focused exclusively on the Bitcoin ecosystem, and while our revenues today are generated from securing the blockchain through our transaction verification services segment, we plan to evaluate broader opportunities in blockchain consumer solutions. As noted in recently published research from Goldman Sachs, the real opportunity lies in the underlying technology of Bitcoin, the blockchain. Referred to as the golden egg by analysts at Goldman Sachs, the blockchain can not only live outside of Bitcoin, it has the potential to streamline a multitude of businesses. We believe the work we completed in 2015 has established us as an early mover in this burgeoning market opportunity, positioning us for strong shareholder value improvement in the quarters and years ahead as the use of blockchain technologies begins to revolutionize standard business practices. Our current transaction verification operation touches every blockchain transaction. Even after doubling our server processing power in January of 2016, we're currently using just 33% of the expanded power capacity we added in July 2015. The foundation to rapidly scale our operations is in place, and our pending merger with Spondoolies-Tech Ltd. ("Spondoolies") is poised to provide us a technology advantage that we believe will positively impact revenues over the long-term. Story continues We've also strengthened our financial footing, most recently with the completion of a $1.45 million capital raise in December 2015, 1,225% year-over-year revenue growth for the fiscal year ended 2015, and a 25% decrease in cash flow used from operating activities. Our management team remains dedicated to creating value and protecting our shareholders and continues to demonstrate its commitment to the future of BTCS through positive steps at improving our capital structure. From management's voluntarily return of 12.75 million shares of stock valued at $1.15 million in late 2014, which absorbed nearly all of the dilution from our January 2015 funding, to the recent voluntary escrowing of founder shares representing 15% of the outstanding shares of the company, we are literally "putting our money where our mouth is" and plan to continue to work tirelessly to make our company a success. Looking ahead, there are several key milestones we anticipate achieving in 2016. We believe our transaction verification services business will lead to rapid revenue growth this year, and our pending merger with Spondoolies should further strengthen our financial performance and product offerings. If we complete these and other initiatives, ultimately we believe we will be in a position to up list to a major exchange this year, greatly improving our visibility in the capital markets and setting the stage for further acceleration of growth as blockchain technology spreads across the global economy. Blockchain technology is still in its infancy, and just as the Internet has become a ubiquitous driver of global commerce in a relatively short period of time, we believe the impending boom in blockchain adoption is nearly upon us. On behalf of our management team, I want to personally thank you for your continued support. Sincerely, Charles Allen CEO and Chairman About BTCS: BTCS secures the blockchain through its rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit: www.btcs.com Forward-Looking Statements: Certain statements in this press release, including those related to an anticipated merger, constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Cable & Wireless Communications and Huawei Have Successfully Tested the First Trial of the Fastest Copper Based Broadband Service With G.fast Across Latin America: MIAMI, FL--(Marketwired - Jan 6, 2016) - Cable & Wireless Communications Plc's (CWC) business unit in Panama, Cable & Wireless Panama SA (CWP) and Huawei , a leading global information and communications technology (ICT) solutions provider, today announced the first successful trial of the fastest copper based broadband service across Latin America using leading G.fast technology. As a market leader in mobile and broadband services in Panama, CWP is also the largest telecom service provider in the country with a market leading brand, superior network coverage and excellent customer service. CWP partnered with Huawei to deploy CWC's first trial of the G.fast technology on its existing copper infrastructure. "We are excited to be partnering with Cable & Wireless Communications and together pioneering the first trial of the fastest copper fixed line broadband service with G.fast across Latin America," said Mr. Stephen Ma, CEO of Huawei for the Caribbean. "G.fast is the right way to extend the existing fixed line infrastructure to the gigabit access era by accelerating a future oriented ultra-broadband solution with unparalleled user experiences," he added. The G.fast technology trial ran for two months in Panama deploying Huawei's latest multi-service access node equipment. CWP's trial successfully achieved high speeds averaging 500 Mbps to download and 150 Mbps to upload, over its existing copper fixed lines. "We are thrilled to announce that Cable & Wireless Panama was the first market across Latin America to have successfully completed testing of the G.fast technology, which can deliver high speeds, to its customers through the fastest copper based fixed line broadband technology across the region reaching speeds of 500 Mbps," said Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications. "Our strategic partnership with Huawei has strengthened our commitment to consider solutions that deliver high-speeds," added Alloni. G.fast technology is based on the Time Division Multiplexing (TDM) method with an improved algorithm that cancels the noise in the lines, reducing the effects of crosstalk and allowing transmission of higher rates of bits with a better quality, increasing the speeds of the information transmitted. Huawei's G.fast solution can complement the other technologies selected for its HFC (Hybrid fiber-coaxial) and Fibre delivery platforms. CWP's G.fast technology is providing a fivefold increase in speeds compared to any existing internet copper residential service in Panama and empowering the fastest copper fixed line broadband service across Latin America. Story continues About Huawei Huawei is a leading global information and communications technology (ICT) solutions provider. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Its innovative ICT solutions, products and services are used in more than 170 countries and regions, serving over one-third of the world's population. Founded in 1987, Huawei is a private company fully owned by its employees. About G.fast G.fast is a digital subscriber line (DSL) standard for local loops, with performance targets between 150 Mbps and 1 Gbps, depending on loop length. Since the launch of the world's first G.FAST prototype by Huawei in December 2011, G.FAST technology has become highly anticipated by the ICT industry and has maintained strong development momentum. About C&W Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . About CWP Cable & Wireless Panama (CWP) is the market leader in mobile, broadband and fixed line services in Panama. The Company's mobile business operates under the brand name +Movil and the other businesses under + internet and +TV Digital in Panama. CWP is also a leading regional player in enterprise and managed services as well as being a leader in carrier services in partnership with our Caribbean business. View comments || What to Expect from Overstock.com's (OSTK) Q4 Earnings?: Overstock.com Inc. OSTK is expected to report fourth-quarter 2015 results after the closing bell on Feb 4. Overstock.com is an online closeout retailer that sells brand-name merchandise at deep discounts. The offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories. Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on Bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger. Cryptosecurities will likely bring the next major change in the stock market. With the SpeedRoute deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and underlying technologies will help the company to connect the t0 securities trading platform with the entire U.S. equity market. This will enhance transparency and efficiency of the existing capital markets, which was the basic idea behind t0.com. The blockchain technology allows investors and buyers to track down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of securities. Additionally, Overstock started the Black Friday holiday sales event a full week before the shopping holiday. This should have a favorable impact on the fourth-quarter results. Apart from this, Overstock also announced that Merrill Lynch Professional Clearing Corporation (“Merrill Pro”), the last defendant remaining after Goldman Sachs, in Overstock.com’s longstanding market manipulation case, has settled its claims by paying $20 million to Overstock.com and its co-plaintiffs. This is likely to boost results in the to-be-reported quarter. Story continues Stocks to Consider Here are some stocks, which you may consider as they have a favorable Zacks Rank and a positive Earnings ESP and are likely to post an earnings beat this quarter: MaxLinear, Inc. MXL has an Earnings ESP of +2.94% and a Zacks Rank #1 (Strong Buy). SolarWinds, Inc. SWI has an Earnings ESP of +2.27% and a Zacks Rank #1. Fidelity National Information Services, Inc. FIS has an Earnings ESP of +2.17% and a Zacks Rank #3. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SOLARWINDS INC (SWI): Free Stock Analysis Report MAXLINEAR INC-A (MXL): Free Stock Analysis Report FIDELITY NAT IN (FIS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Surprising Gift Offered to Bitcoin Sellers at Coin Reverse Inc.: Coin Reverse Inc. Is Now Offering Engraved Bitcoin to Their Customers NEW YORK, NY / ACCESSWIRE / January 29, 2016 / Coin Reverse Inc. ( http://www.coinreverse.com ) has hit the charts with their latest offer on Bitcoin purchase: they're not only offering 15% more than Blockchain's official rate for each Bitcoin they purchase, but they are also putting a surprise gift on transactions amounting 10+ BTC. CoinReverse's marketing team has gone creative enough to attach a special gift to each and every transaction amounting more than 10 BTC: they are offering a 24-karat gold coin with the Bitcoin engraved on both sides. The mechanism is simple: each customer selling over 10 BTC within one transaction is asked to provide a mailing address and the company delivers the gift via a courier. CoinReverse's Marketing Manager Jacob Gustavo is enthusiastic with their latest gift idea, while being positive that people involved in the cryptocurrency market are definitely welcoming a jewelry-like item engraved with the Bitcoin logo, being offered to them for doing business with CoinReverse. "In this way, we are offering our customers a somehow materialized version of this virtual, non-material coin. We think it's pretty cool to put your hands on a coin carrying the Bitcoin's logo, especially if you're passionate about the cryptocurrencies," declares Jacob Gustavo, company's Marketing Manager. Coin Reverse Inc. is a cryptocurrency trading company based in NewYork, USA, founded and developed by few bold investment professionals who have seen the business opportunity outside the traditional capital markets and have targeted cryptocurrency trade in terms of medium and long-term investments strategy. Business is operated in an effective manner, with a user-friendly platform and easy contact means through the company's website and via e-mail, with 24/7 assistance through a Live Chat Section offered. Payments for the trade are free of any charges on the customer's side, while the company covers all the costs involved. The most common payment methods are available: PayPal and Bank Transfer. Story continues All the details related to the company's offer and other information, together with the contact details of the Sales Team are available on their website: http://www.coinreverse.com . No restrictions on customers' provenience and payment destination countries or currencies are in force within the company's policy. For more information about us, please visit http://coinreverse.com . Contact Info: Name: Tom Juno Organization: Coin Reverse Inc. Address: 1370 Broadway, 5th Floor Phone: (315) 210-8349 SOURCE: Coin Reverse Inc. || Bitcoin group scores funds from biggest names in industry: Bitcoin-related businesses raised more venture capital money in 2015 than in any year before: $485 million, according to industry news siteCoinDesk. And yet, even as they court more VC interest, these companies continue to deal with skepticism from the general public and from top executives of big financial institutions, likeJamie Dimonof JPMorgan (JPM).
So they're turning to a non-profit advocacy group for help.
Coin Center, a 501(c)(4) lobbying group founded in 2014, calls itself the "leading non-profit research and advocacy center" for public policy on "cryptocurrency technologies such as Bitcoin." Its supporters already included well-known venture firm, Andreessen Horowitz (Marc Andreessen is a vocal bitcoin believer), and some of the biggest companies in the industry, including Chain, Coinbase, and Xapo. Now Coin Center is about to get a lot louder: This month it has raised $1 million in new donations, Yahoo Finance has learned.
In an industry where the hottest companies have had recent fundraising rounds of $116 million (21 Inc.), $50 million (Circle) and $30 million (Chain), $1 million may sound like small potatoes—and it is, although Coin Center says it will help fund travel for its five staff members, who spend much of their time meeting with lawmakers to discuss policy.
But as some big banks have joined a consortium to explore the possibilities of the blockchain (the public, open ledger on which all bitcoin transactions are logged), what is significant here is that Coin Center's extensive list of new supporters includes some of the most powerful people in the exploding fintech sector. Among those who donated are 21 Inc. (which last year released a small bitcoin-mining computer aimed at making it easier to develop bitcoin apps), BitStamp, Overstock.com (OSTK), which was one of the first major online retailers to accept bitcoin as payment, and Digital Currency Group.
That last firm is key: Led by SecondMarket founder Barry Silbert, DCG has invested in 65 different bitcoin companies, and the companies in its portfolio have raised 70% of all the venture capital in the space. DCG is to the bitcoin industry what Anheuser-Busch InBev (BUD) is to the beer market, or what IAC (IAC) has been to online-dating companies.
"Our mission is to accelerate the development of a better financial system," Silbert tells Yahoo Finance, "and the way we will do that is investing in great companies, starting companies, buying companies, and helping organizations like Coin Center." In other words: Silbert wants to have his hands in as many digital-currency entities as possible to ensure his influence, and he is quickly carrying out that strategy. It's why DCGbought outrightthe industry's leading news site, CoinDesk."There are many ways lawmakerscould stifle the bitcoin blockchain," Silbert says, "so providing awareness and education is a very important part of what will make this industry sustainable."
In short: Coin Center is getting more influential, and now it has people backing it who have deep pockets and major interest in keeping regulators from interfering too much in what bitcoin companies are doing. Coin Center is not a trade association—none of the companies in the bitcoin industry are members. But it certainly shares their interests.
Jerry Brito, Coin Center's executive director, isa law professor who has testified before Congress about cryptocurrencies. Hesays Coin Center's primary audience is policy-makers—and these people can often be confused about the industry. The fear of bitcoin businesses is that politicians will hastily regulate, or even shut down startups, before they understand the technology. (The tension is not unlike the battle raging in daily fantasy sports right now.) Coin Center can help, Brito says: "Policy makers hear about these negative aspects, whether it’s ransoms, or drug sales, or the like, and they will often contact law enforcement and say, 'What's up with this?' This is a challenge just like all new technologies have been, from email to pagers, butwe think that we can get a handle on this."
To that end,Coin Center teamed with the Chamber of Digital Commerce in October to help create The Blockchain Alliance, a safe-space private forum in which law enforcement groups like the FBI and the U.S. Department of Justice can pose questions to bitcoin startup executives and policy pundits. Think of the alliance like a Justice League for bitcoin. But it is unclear how frequently the forum is being used, since the media isn't allowed in.
Last year, New York became the first state to release its own regulatory framework specifically devoted to digital currency businesses. Called the BitLicense, it was met with so much opposition from the bitcoin community that a slew of companies packed up and left New York, cutting off service to customers in the state. Other companies happily applied for a license, but bemoaned the high cost.
Coin Center makes its stance on legislation clear. "If you look back, [former New York Department of Financial Services superintent]Ben Lawsky said he didn't want to interfere with innovation or hurt business. Ultimately, the BitLicense that we got did not succeed at that. It is not a good model for other states to follow," he says. "I think the only solution is a light touch approach. If you go heavy-handed, as a regulator, you’ll do two things: not meet your goals, typically, becasuse you’ll make it so difficult that people can’t even comply with it, and not get the visibility that you want as a regulator." Those in the bitcoin business, of course, like that argument quite a lot.
Marc Andreessen has been Coin Center's biggest donor since the beginning, giving the lion's share of help. But with Silbert flexing his muscle, Coin Center's role in advocating for digital currency will strengthen. (Brito says donors "can give input," but not dictate what Coin Center does.)
Coin Center has received $2 million in donations to date, and it now plans to seek $1 million every year. It won't have much trouble getting it.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
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Here's a sign that PayPal is embracing Bitcoin
Fantex, the 'athlete stock exchange,' signs first golfer || MarilynJean Interactive (MJMI.QB) Shareholder Update: Marilynjean Interactive ( MJMI ) Is Pleased To Update Its Shareholders on Its Business Plan for the Coming Year HENDERSON, NV / ACCESSWIRE / January 18, 2016 / The crypto-currency space saw major strides forward in 2015 with ground-breaking developments in its underlying technology and regulation as well as an unexpected rise in Bitcoin prices. The space appears poised for a quantum leap forward in 2016 and MarilynJean is excited to be a part of what will likely be tremendous growth in the industry. From a technology standpoint, Bitcoin's blockchain is envisioned to revolutionize the settlement of securities and payments for both financial and non-financial institutions alike. Major stock and futures exchanges, clearing houses, and other technology organizations are exploring the use of blockchain technology to underpin their transaction verification systems. Bloomberg estimates that approximately $373 million was invested in Bitcoin start-ups in 2015. As investment in Bitcoin and blockchain technology grew, new regulation evidenced that Bitcoin is on track to become a widely used and accepted currency. New York issued its first Bitlicense allowing Goldman Sachs backed Circle Internet Financial to offer digital currency services in the state. The advent of regulated exchanges and trading instruments may have been a factor in driving demand for Bitcoin, its value having increased over 40% in 2015. While price volatility remained higher than traditional FIAT currencies, 2015 was overall a more stable year than its predecessor for Bitcoin. Looking ahead to 2016, MJMI plans to continue its focus on the key verticals of exchange, remittance and gaming. In addition, the Company plans to seek partnerships with firms involved specifically in development of applications based on blockchain technology. The Company plans to continue to expand its management and advisory board in 2016, advance the partnerships it began negotiating last year and continue to forge new alliances in the space. Story continues Peter Janosi, MJMI's president said: "We believe that MJMI's best avenue for growth is via acquisitions and strategic partnerships. We expect the industry to continue to expand and evolve rapidly and, as such, we expect our publicly traded currency to be a key strategic tool for growth and financing." About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular Bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of Bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space. Management believes that several industries, including international remittances, currency exchange and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on Bitcoin and the crypto-currency space. The company's trading symbol is OTCQB: MJMI. Website: www.marilynjean.com Press Contact: bonnie@marilynjean.com SOURCE: MarilynJean Media Interactive || Bank of America is going big on blockchain: Bank of America(NYSE: BAC)is trying to steal a march on the latest developments in the technology behind digital currency bitcoin(: BTC=)by loading up on blockchain-related patents.
Blockchain works like a huge, decentralized ledger for the digital currency bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with.
Major financial institutions -- including theBank of England-- have released a number of notes over the last year on the potential of the technology and have created teams within their organizations to look into how to develop the cryptocurrency.
But Bank of America is going one step further by attempting to patent some of the use cases of the technology. The company has already filed for 15 blockchain-related patents and is currently in the process of drafting another 20 to be submitted to the U.S. Patents and Trademark Office (USPTO) later this month, a spokesperson told CNBC on Wednesday.
"Blockchain's very intriguing and for us it's a balance between not wanting to be Neanderthal but not wanting to put something out in a commercial application where the commercial application is still very unclear as a technologist, the technology is fascinating," Catherine Bessant, the chief operations and technology office at Bank of America, said during a CNBC event at Davos last week.
"And we have tried to stay on the forefront, I think we have somewhere around 15 patents, most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space. (It's) very important in the intellectual property world to reserve our spot even before we know what the commercial application might be."
In December, the United States Patent and Trademark Office (USPTO) published 10 of Bank of America's applications. The USPTO publishes patent applications 18 months after they're filed. But the latest information shows that the number of patents Bank of America has filed for and is looking to apply for is much higher.
Bank of America patents published by the USPTO showed proposals for a "cryptocurrency risk detection system" and "suspicious user alert system" among others. These patents have not yet been granted.
The technology might be some years off before becoming mainstream for banks, but institutions are taking a collaborative approach to the technology, working with start-ups and even rival lenders. A consortium of more than 25 banks, led by fintech (financial technology) company R3, is currentlydeveloping a frameworkfor applying blockchain technology to markets.
Last year, Goldman Sachs released a note that saidblockchain could "change everything"while banks from Barclays to UBS explained how the technology could be used in areas from remittances to drawing up contracts.
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• Personal Finance || Your first trade for Thursday: The " Fast Money " traders gave their final trades of the day. Tim Seymour is a seller of iShares MSCI Emerging Markets (EEM) Brian Kelly is a seller of Energy Select Sector SPDR ETF(XLE) Karen Finerman is a seller of Priceline (PCLN) Guy Adami is a buyer of NetApp (NTAP) Trader disclosure: On February 17 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: TIM SEYMOUR: Tim is long AAPL, BAC, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, KO, MCD, PEP, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM. BRIAN KELLY: Brian is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, Euro, EWH, Hong Kong Dollar, UBS, SPY, Yuan. KAREN FINERMAN: Karen is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, FL, GOOG, GOOGL, JPM, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International. GUY ADAMI: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || REUTERS AMERICA NEWS PLAN FOR TUESDAY FEB 2: REUTERS AMERICA MIDDAY NEWS PLAN FOR TUESDAY FEB 2 LATEST AND PLANNED U.S. NEWS COVERAGE (ALL TIMES ET) Top stories as of 11:30 a.m. on Tuesday. To find stories, search by Slug or Headline Keyword in your CMS or Advanced Search in Media Express. For story queries, please contact us.general-news@thomsonreuters.com For photo queries use USCanada-Pictures-Editors@thomsonreuters.com TOP STORIES Cruz calls Iowa win a victory for 'conservative grass roots' DES MOINES - Relishing his victory in the first Republican nominating contest of the U.S. presidential election, Senator Ted Cruz called his defeat of Donald Trump in the Iowa caucuses a tribute to "conservative grass roots." (USA-ELECTION/ (WRAPUP 5, PIX, TV, GRAPHIC), moved at 10:33 a.m., by Ginger Gibson, 636 words). See also: USA-ELECTION/TRUMP (PIX, TV), moved at 7 a.m., by Steve Holland, 765 words and USA-ELECTION/RUBIO (PIX), moved at 7 a.m., by James Oliphant, 586 words) Virtual tie raises doubts: Can Hillary Clinton close the deal? DES MOINES, Iowa - Hillary Clinton's struggle in Iowa to fend off underdog Bernie Sanders, a self-described democratic socialist, reignited questions about her ability to close the deal with Democratic voters and turned up the pressure on her high-profile White House campaign. USA-ELECTION/DEMOCRATS (PIX, TV), moved at 7 a.m., by John Whitesides, 718 words. FBI joins Flint, Michigan water contamination probe WASHINGTON - The FBI is joining a U.S. criminal investigation into Flint, Michigan's water contamination crisis, a spokeswoman for the U.S. Attorney's Office in Detroit said on Tuesday. (MICHIGAN-WATER/ (UPDATE 2), moved, 599 words) Punxsutawney Phil predicts early spring PUNXSUTAWNEY, Pa. - Punxsutawney Phil, the Pennsylvania groundhog renowned for his ability to forecast the onset of spring, did not see his shadow after emerging from his burrow on Tuesday morning, predicting an early spring. (USA-GROUNDHOG/ (UPDATE 1, PIX, TV), moved at 7:54 a.m., 497 words) Story continues Africa, Asia vulnerable to spread of Zika virus -WHO GENEVA - The Zika virus linked to a microcephaly outbreak in Latin America could spread to Africa and Asia, with the world's highest birth rates, the World Health Organization warns as it launches a global response unit against the new emergency. (HEALTH-ZIKA/ (UPDATE 1, TV, PICTURE), moved, by Stephanie Nebehay, 305 words). See also: HEALTH-ZIKA/OLYMPICS, moved, 100 words and HEALTH-ZIKA/AUSTRALIA, moved, by Jane Wardell, 380 words Nine migrants, including two babies drowned off Turkish coast- coastguard ISTANBUL - Nine people, including two babies, are found drowned off the coast of western Turkey after a boat carrying people to Greece partly capsizes, the coast guard says. (EUROPE-MIGRANTS/TURKEY (UPDATE 1), moved, 181 words) PM resigns as Haiti scrambles for interim government before deadline PORT-AU-PRINCE - Haiti's prime minister has resigned, government sources said, in an attempt to clear the way for a temporary government to replace outgoing President Michel Martelly after a botched election and violent street protests last month. (HAITI-ELECTION/ (UPDATE 2, TV, PIX), moving shortly, 391 words) Bill Cosby fighting sex assault charge in Pennsylvania court NORRISTOWN, Pa. - Bill Cosby appeared at a suburban Philadelphia courthouse on Tuesday to fight sexual assault charges, which his lawyers say violate a decade-old agreement with a former district attorney not to prosecute the disgraced comedian. (PEOPLE-COSBY/ (UPDATE 3, PIX, TV), moved, 485 words) CAMPAIGN Bernie Sanders shows strong momentum on social media NEW YORK - It may be too close to call between Democratic presidential candidates Hillary Clinton and Bernie Sanders in the Iowa caucuses on Monday but the senator from Vermont was the clear winner on social media. (USA-ELECTION/SOCIALMEDIA (UPDATE 3, PIX), moved, 370 words) Cruz's Iowa victory could be big blow to Big Corn NEW YORK - Ted Cruz's victory on Monday in corn-rich Iowa could represent a major blow to the nation's controversial biofuels program, reflecting its waning influence over politicians even in the U.S. farming heartland. (USA-ELECTION/ETHANOL (UPDATE 1, PIX), moved, 670 words) WASHINGTON Pentagon's 2017 budget reshapes spending amid changing security environment WASHINGTON - Defense Secretary Ash Carter said on Tuesday the Pentagon would seek a $582.7 billion defense budget next year and reshape its spending priorities to reflect a new strategic environment marked by Russian assertiveness and the rise of Islamic State. (USA-DEFENSE/BUDGET (UPDATE 1, PIX, TV), moving shortly, 404 words) U.S. military leaders: women should have to register for draft WASHINGTON - U.S. armed forces leaders said on Tuesday that women should be required to register for the military draft, along with men, as the military moves toward integrating them fully into combat positions. (USA-MILITARY/WOMEN (UPDATE 1, PIX), moved, 390 words) IS pushed back in Iraq, Syria, but a threat in Libya -Kerry ROME - An international coalition is pushing back Islamic State militants in their Syrian and Iraqi strongholds but the group is threatening Libya and could seize the nation's oil wealth, U.S Secretary of State John Kerry says. (MIDEAST-CRISIS/COALITION (UPDATE 1, PICTURE, TV), moved, by Arshad Mohammed, 590 words). See also: MIDEAST-CRISIS/IRAQ-IS (INSIGHT, PICTURE), moved, by Samia Nakhoul, 1,515 words New European, U.S. data transfer pact imminent - sources BRUSSELS - European and U.S. negotiators are on the brink of clinching a new transatlantic data transfer pact which should prevent EU regulators from restricting data transfers by firms, two people familiar with the talks say. (EU-DATAPROTECTION/USA (EXCLUSIVE, UPDATE 2), moved, by Julia Fioretti, 525 words) China defends law enforcers as U.S. calls for clarity on booksellers BEIJING/WASHINGTON - China's Foreign Ministry says its law enforcement officials will never do anything illegal, especially not overseas, after the United States calls on China to clarify the status of five missing Hong Kong booksellers. (HONGKONG-BOOKSELLERS/USA (UPDATE 1, TV), moved at 5 a.m., 430 words) OTHER U.S. NEWS Leader of Oregon occupation to appear in court PORTLAND, Ore. - Ammon Bundy, who led a group of armed protesters in the occupation of a wildlife refuge in remote Oregon, will appear in federal court in Portland where his attorneys will argue that he should be released on bail ahead of his trial. 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(MISSOURI-FERGUSON/, moved at 1019 am ET, 270 words) Georgia to execute its oldest death row inmate for 1979 murder ATLANTA - A 72-year-old man convicted of murdering a convenience store manager in a 1979 robbery in Atlanta's suburbs is set to be executed on Tuesday in Georgia. (USA-EXECUTION/GEORGIA (PIX), moved at 7 a.m., 281 words) Three teenagers arrested in fatal shooting at Seattle homeless camp -- Three teenagers were arrested on Monday in connection with a shooting at a Seattle homeless encampment where two people were killed and three wounded, police said. (SEATTLE-SHOOTING/, moved, 181 words) Teacher arrested in Southern California jail escape freed LOS ANGELES - A teacher arrested in connection with the escape of three inmates from a Southern California jail was freed from custody on Monday after prosecutors said they did not have enough evidence to charge her with a crime. (CALIFORNIA-ESCAPE/ (UPDATE 1), moved at 11:45 p.m., 383 words) SUPER BOWL Super models, super heroes add up to Super strange Media Day SAN JOSE - Media Day was transformed into Opening Night for Super Bowl 50 but the switch to prime time did nothing to change the zany tone as super models and super heroes mingled with giants of sports journalism. (NFL-SUPERBOWL/MEDIA (PIX), moved at 2:15 a.m., 397 words) Newton shows serious side at media night SAN JOSE - Cam Newton became known for his on field celebrations during the Carolina Panthers march to Super Bowl 50, but the quarterback says preparation is what brings him real joy. (NFL-SUPERBOWL/NEWTON (PIX), moved at 2:20 a.m., 368 words) Broncos' Manning says no decision yet on retirement SAN JOSE - Denver Broncos quarterback Peyton Manning said on Monday he has not yet decided whether he will retire following Super Bowl 50 and that he is strictly focused on winning his second NFL championship. (NFL-SUPERBOWL/MANNING (PIX), moved, 360 words) MIDDLE EAST Syrian army threatens to encircle Aleppo as talks falter BEIRUT/AMMAN/GENEVA - A Syrian military offensive backed by heavy Russian air strikes threatened to cut critical rebel supply lines into the northern city of Aleppo on Tuesday while the warring sides said peace talks had not started despite a U.N. statement they had. (MIDEAST-CRISIS/SYRIA (WRAPUP 3, TV, PICTURE), moved, by Tom Perry, Suleiman Al-Khalidi and John Irish, 1,059 words) Iraqis running out of food and medicine in besieged Falluja BAGHDAD - Tens of thousands of trapped Iraqi civilians are running out of food and medicine in the western city of Falluja, an Islamic State stronghold under siege by security forces. 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(BRITAIN-EU/ (UPDATE 4, PICTURE), expect by 1530 GMT/10.30 AM ET, by Elizabeth Piper and Jan Strupczewski, 900 words) Socialists ready to lead talks to form government in Spain MADRID - The leader of Spain's Socialists offers to lead talks between parties to form a government in a bid to break political deadlock and avoid a new national election in the next few months. (SPAIN-POLITICS/ (UPDATE 2, PICTURE, TV), expect by 1900 GMT/2 PM ET, by Julien Toyer and Blanca Rodriguez, 500 words) Cuba open for business, ministers tell French executives PARIS - Cuba seeks to drum up foreign investment as ministers on a state visit to Paris promise French business leaders that the Communist-run country is open for business. (CUBA-FRANCE/, moved, 280 words) China's nuclear envoy in North Korea amid sanctions push SEOUL - China's envoy for the North Korean nuclear issue arrives in the capital, Pyongyang, the North's KCNA news agency reports, amid a push by the United States and South Korea for tougher sanctions on the North after its fourth nuclear test. (NORTHKOREA-NUCLEAR/CHINA, moved, 370 words) EU to step up checks on Bitcoin, prepaid cards to fight terrorism BRUSSELS - The European Commission will propose by the end of June stricter rules on prepaid cards and virtual currencies in a bid to reduce anonymous payments and curb the financing of terrorism, documents released show. (EU-TERRORISM/FINANCING (PICTURE), moved, by Francesco Guarascio, 464 words) North Norea notifies IMO of planned satellite launch SEOUL - North Korea has notified the International Maritime Organization of plans to launch a satellite between Feb. 8 and Feb. 25, South Korea's Yonhap News Agency reported late on Tuesday. (NORTHKOREA-SATELLITE/ (UPDATE 1), moving shortly, 150 words) Australia PM weighs early poll to break political deadlock SYDNEY - Australian Prime Minister Malcolm Turnbull raises the possibility of dissolving both houses of Parliament and calling an early election to break a political deadlock that has stymied the government, say government officials aware of the matter. (AUSTRALIA-POLITICS/ELECTION, moved, 430 words) India's Supreme Court will review law criminalising gay sex NEW DELHI - India's top court says it will review a decision over whether to uphold a colonial-era law that criminalises gay sex in a victory for homosexual rights campaigners at a time when the nation is navigating a path between tradition and modernity. (INDIA-COURT/ (UPDATE 2, PICTURE, TV), moved, by Aditya Kalra and Andrew MacAskill, 410 words) HEALTH AND SCIENCE Long shifts for young surgeons don't threaten patient safety -- Controversial rules that limit the hours young surgeons can work while in training aren't needed to protect patient safety, a nationwide experiment finds. (HEALTH-SURGERY/RESIDENT-HOURS, moved, 753 words) ENTERTAINMENT AND LIFESTYLE Britain's James Corden to host 2016 Tony Awards NEW YORK - British actor James Corden will host the Tony Awards for theater for the first time at a ceremony in New York in June, organizers announced on Tuesday. (AWARDS-TONYS, moved, 186 words) Baggy but futuristic looks kick off NY men's fashion week NEW YORK - Following a successful debut in July, New York hosts its second menswear fashion week, with dozens of established fashion names as well as new designers showcasing their autumn/winter offerings - from slick suits to more casual wear. (FASHION-NEWYORK/MEN (TV), expect by noon, 238 words) CONSUMER TECH Spin-off or sale? Yahoo turnaround plan in focus as earnings awaited SAN FRANCISCO - Yahoo Inc's plans to turn around its struggling core business are set to dominate its earnings report after the bell on Tuesday, with investors keen to see if CEO Marissa Mayer will push ahead with a proposed spin-off or entertain calls for a complete sale. (YAHOO-RESULTS/PREVIEW, moved at 7 a.m., 355 words) Lower costs nudge Nintendo's profit higher TOKYO - Japan's Nintendo reported a 5.3 percent increase in third-quarter operating profit, in line with analysts forecasts, as lower costs helped offset a decline in overall sales. (NINTENDO-RESULTS/, moved at 2:30 a.m., 134 words) BUSINESS TRENDS Fearing lean times, U.S. companies tighten purse strings NEW YORK - The capital spending slump that originated in the hard-hit energy sector appears to be spreading more widely across other U.S. industries. (USA-RESULTS/CAPEX (ANALYSIS), moved, 600 words) A new global oil deal could draw lessons from 1998 LONDON - After a year of secret diplomacy and hushed-up private talks around the world, OPEC's mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-OPEC Mexico which overcame mutual acrimony and led to a much-needed rise in oil prices. (OPEC-RUSSIA/DEAL (ANALYSIS, PIX), moved, 1,345 words) See also: GLOBAL-OIL/ (UPDATE 6), moved, 365 words BUSINESS AND MARKETS ChemChina close to striking deal for Syngenta -sources China's state-owned ChemChina is nearing a deal to buy Swiss seeds and pesticides group Syngenta for $42.2 billion, two people familiar with the matter say, two people familiar with the matter say. (SYNGENTA AG-M&A/CHEMCHINA (UPDATE 3), moved, Arno Schuetze and Pamela Barbaglia, 350 words) Exxon's profit tumbles 58 percent, slashes capex by one-quarter Exxon Mobil Corp reports its smallest quarterly profit in more than a decade and says it will cut 2015 spending by one-quarter and suspend share repurchases as it copes with a prolonged downturn in crude prices. (EXXON MOBIL-RESULTS/ (UPDATE 2), moved, by Anna Driver, 340 words) GM January U.S. sales up slightly, Ford's down DETROIT - U.S. auto sales appeared to fare better than expected in January, early returns show, as the industry benefited from low gasoline prices, easy credit and moderate economic growth. (USA-AUTOS/ (UPDATE 2), moved, Bernie Woodall, 410 words) Dow Chemical CEO Liveris to step down by mid-2017 Dow Chemical Co Chief Executive Andrew Liveris said he will retire from the company by mid-2017, months after activist investor Daniel Loeb called upon him to step down from the company, which is merging with rival DuPont. (DOW-RESULTS/ (UPDATE 4), moving shortly, by Amrutha Gayathri and Swetha Gopinath, 400 words) Stocks snap winning streak as oil pressure returns LONDON - World stocks end three days of gains as lackluster global economic data lead to another slump in oil prices. (GLOBAL-MARKETS/ (WRAPUP 5), updated throughout the day, 600 words). See also: USA-STOCKS/ (UPDATE 3), updated throughout the day, 460 words) Oil slides more than 5 percent as hopes for output cut fade LONDON - Brent oil falls more than 5 percent, while U.S. crude slides below $30 per barrel, on worries about future demand and rising supply, while hopes for a deal between OPEC and Russia on output cuts fade. (GLOBAL-OIL/ (UPDATE 9), updated throughout the day, 460 words) Low metals prices sink zinc producer Horsehead Holding Corp WILMINGTON, Del. - U.S. zinc miner Horsehead Holding Corp files for bankruptcy protection, becoming the latest victim of a commodity price crash that has claimed scores of U.S. energy exploration companies, miners and metals producers. (HORSEHEAD HLDG-BANKRUPTCY/, moved, by Tom Hals, 320 words) Argentina says reaches provisional debt deal with Italian creditors BUENOS AIRES - Argentina has reached a preliminary deal with a group of Italian creditors who hold 30 percent of unpaid sovereign debt stemming from Argentina's record $100 billion default in 2002, Finance Minister Alfonso Prat-Gay says. (ARGENTINA-DEBT/ (UPDATE 1), moving shortly, 300 words) Brazil industrial output plunges 8 percent in 2015 BRASILIA - Industrial output in Brazil fell for a seventh straight month in December, capping the worst year for manufacturers in more than a decade as they struggle with inflation, high interest rates and political uncertainty. (BRAZIL ECONOMY/INDUSTRY (UPDATE 1), moved, by Silvio Cascione, 300 words) German jobless rate falls to lowest on record BERLIN - German unemployment fell more sharply than expected in January and the jobless rate dropped to a record low, suggesting private consumption will help offset a slowdown in emerging markets to keep growth in Europe's largest economy steady. (GERMANY-ECONOMY/UNEMPLOYMENT (UPDATE 1), moved, 290 words) Alphabet overtakes Apple in market value - for now Alphabet Inc might win the market cap battle against Apple Inc, but will it win the war? Maybe not. (APPLE-ALPHABET/RESEARCH (UPDATE 1), moved, by Sayantani Ghosh and Supantha Mukherjee, 510 words) Pfizer 2016 forecasts disappoint; shares fall U.S. drugmaker Pfizer Inc forecasts 2016 revenue and earnings below analysts' estimates, largely because of the strong dollar. (PFIZER-RESULTS/ (UPDATE 3), moved, 350 words) UPS fourth-quarter profit surges, gives robust outlook CHICAGO - United Parcel Service Inc reports a significantly higher quarterly net profit on a solid holiday season performance and gives a solid earnings outlook for 2016 despite warning of uncertain economic conditions. (UPS-RESULTS/ (UPDATE 1), moved, 330 words) ***************** For story queries, please contact us.general- news@thomsonreuters.com For photo queries use USCanada-Pictures-Editors@thomsonreuters.com) ***************** || Ledger Fights For Bitcoin's Staying Power At CES 2016: The Consumer Electronics Show in Las Vegas is a chance for electronics and technology firms to debut their latest offerings and future prospects. Everything from self-driving cars to mind-blowing virtual reality sets have made their debut at CES, and each year the show tends to set the tone for what kind of tech will be big in the coming year.
This year, bitcoin startupLedgeris keeping the cryptocurrency in the spotlight by hosting the only bitcoin startup booth at the event.
Physical Bitcoin Storage
Ledger created a hardware wallet product in 2015 that provides customers with a safe and secure way to store and use their bitcoins. Ledger takes some of the worry out of using bitcoin by giving users a physical way to store bitcoins – a lightweight smart card. They can then use a USB to make secure payments, and the company offers a simple backup system that provides users with a microchip and pin code encrypted system in case they lose their card.
Related Link:Can The Bitcoin Foundation Last?
This year, Ledger is planning to exhibit new offerings at CES including a new technology that will strengthen the security of online authentication by reducing the reliance on passwords.
Bitcoin's Year
Ledger's presence at CES suggests that although bitcoin had a rough year in 2015, the cryptocurrency isn't dead yet. Concerns about privacy and security have increased skepticism about cryptocurrencies, making it difficult for bitcoin firms to push mainstream approval. However, many believe that as security improves and more and more vendors open up to the possibility of bitcoin transactions, the public will get on board.
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[Random Sample of Social Media Buzz (last 60 days)]
Liquid Bitcoin || That awkward moment when ur @ Satoshi Roundtable and realize you accidentally ran up too big of a bar... http://cur.lv/vxbzk #bitcoin || Liquid Bitcoin || In 3M community, money can be more simple.#MMMExtra #Bitcoin http://WWW.MMMGlobal.BZ https://twitter.com/MMMGlobal/status/703240807382458368 … || willardb11011 : The easiest way to get Bitcoin - http://ift.tt/1KOvXQt || In the last 10 mins, there were arb opps spanning 8 exchange pair(s), yielding profits ranging between $0.00 and $22.56 #bitcoin #btc || Liquid Bitcoin || Liquid Bitcoin || In the last hour, 4 people won 0.18 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $474.03 #bitcoin #btc
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Trend: down || Prices: 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97, 414.86, 417.13
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-07-08]
BTC Price: 9428.33, BTC RSI: 54.23
Gold Price: 1815.50, Gold RSI: 68.20
Oil Price: 40.90, Oil RSI: 63.22
[Random Sample of News (last 60 days)]
Bitcoin and Cardanos’ ADA – Weekly Technical Analysis – June 29th, 2020: Bitcoin fell by 1.87% in the week ending 28thJune. Following on from a 0.45% decline from the previous week, Bitcoin ended the week at $9,125.4
It was a bullish start to the week, with Bitcoin rallying by 4.27% on Monday before hitting reverse.
The early breakout saw Bitcoin strike a Monday intraweek high $9,795.0 before sliding to a Saturday intraweek low $8,855.0.
Monday’s rally saw Bitcoin break through the first major resistance level at $9,622 before sliding to sub-$9,000 levels.
The reversal saw Bitcoin fall through the first major support level at $8,947 and the 23.6% FIB of $8,900.
A Sunday recovery from early losses saw Bitcoin break back through to $9,000 levels to limit the loss of the week.
5 days in the red, including a 3.55% slide on Wednesday delivered a 3rdconsecutive week in the red.
Bitcoin would need to move through the $9,258 weekly pivot to bring the first major resistance level at $9,662 into play.
Support from the broader market would be needed for Bitcoin to break back through to $9,500 levels.
Barring an extended crypto rally, the first major resistance level and last week’s high $9,795 would likely cap any upside.
In the event of a breakout, Bitcoin could take a run at $9,900 levels before any pullback.
Failure to move through the $9,258 pivot could see Bitcoin see red for a 4thconsecutive week.
A pullback through to sub-$9,000 levels would bring the 23.6% FIB of $8,900 and the first major support level at $8,722 into play.
Barring an extended crypto rally, however, Bitcoin should steer well clear of sub-$8,000 levels. The second major support level at $8,318 should limit any downside in the week.
At the time of writing, Bitcoin was up by 0.17% to $9,141.1. A mixed start to the week saw Bitcoin fall to an early morning low $9,107.4 before rising to a high $9,147.7.
Bitcoin left the major support and resistance levels untested at the start of the week.
Cardano’s ADA rose by 2.36% in the week ending 28thJune. Following a 2.54% gain from the previous week, Cardano’s ADA ended the week at $0.08024
It was a choppy start to the week for Cardano’s ADA. A Monday 6.78% rally saw Cardano’s ADA rise to an early in the week high $0.08515 before easing back.
Falling short of the first major resistance level at $0.08812, Cardano’s ADA fell back to $0.082 levels before striking a Wednesday intraweek high $0.08738.
Falling short of the first major resistance level at $0.08812 once more, Cardano’s ADA slid to a Saturday intraweek low $0.07427.
While falling through the week’s $0.7520 pivot, Cardano’s ADA avoided the first major support level at $0.06531.
In spite of 5 consecutive days in the red, Monday’s 6.78% rally and a 3.82% gain on Sunday delivered the upside.
Cardano’s ADA would need to avoid a fall through the $0.08060 pivot to support a run at the first major resistance level at $0.087.
Support from the broader market would be needed, however, for Cardano’s ADA to break out from $0.085 levels.
Barring another extended crypto rally, the first major resistance level and last week’s high $0.08738 would likely cap any upside.
Failure to avoid a fall through the $0.08060 pivot could see Cardano’s ADA reverse early gains.
A pullback through to sub-$0.080 levels would bring the first major support level at $0.07388 into play.
Barring an extended broader-market sell-off, however, Cardano’s ADA should continue to avoid sub-$0.060 levels. The second major support level at $0.06752 should limit any downside in the week.
At the time of writing, Cardano’s ADA was up by 3.23% to $0.08283. A bullish start to the week saw Cardano’s ADA rally from an early Monday low $0.07996 to a high $0.08385.
Cardano’s ADA left the major support and resistance levels untested at the start of the week.
Thisarticlewas originally posted on FX Empire
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• GBP/USD Daily Forecast – Support At 1.2350 Stays Strong || The Crypto Daily – Movers and Shakers -08/06/20: Bitcoin rose by 0.81% on Sunday. Following on from a 0.50% gain on Saturday, Bitcoin ended the week up by 3.13% to $9,747.1. A mixed start to the day saw Bitcoin rise to an early morning high $9,710.7 before hitting reverse. Coming up short of the first major resistance level at $9,756.27, Bitcoin slid to an early afternoon intraday low $9,393.8. Bitcoin fell through the first major support level at $9,566.57 and the second major support level at $9,464.73. Finding late support, however, Bitcoin rallied to a late afternoon intraday high $9,814.0. Bitcoin broke through the first major resistance level at $9,756.27 before easing back to sub-$9,700 levels. A late rally led to a move back through to $9,700 levels. The first major resistance level capped the upside in the final hour, however. The near-term bullish trend remained intact, supported by last week’s gain. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was yet another mixed day for the majors on Sunday. Tron’s TRX rallied by 6.86% to lead the way. Cardano’s ADA (+0.35%), EOS (+0.55%), and Ethereum (+1.20%) joined Bitcoin in the green. It was a bearish end to the week for the rest of the majors, however. Bitcoin Cash ABC slid by 6.8% to lead the way down. Bitcoin Cash SV (-1.13%), Monero’s XMR (-1.54%), Stellar’s Lumen (-1.85%), and Tezos (-1.31%) also struggled. Binance Coin (-0.80%), Litecoin (-0.30%), and Ripple’s XRP (-0.05%) saw modest losses on the day. It was also a mixed week for the majors. Bitcoin Cash ABC and Bitcoin Cash SV bucked the trend, with losses of 0.02% and 1.76% respectively. It was a bullish week for the rest of the pack, however. Cardano’s ADA, Stellar’s Lumen, and Tron’s TRX led the way, with gains of 17.08, 12.65%, and 14.9% respectively. Binance Coin (1.93%), EOS (+5.17%), Ethereum (+5.78%), Litecoin (+2.30%), Monero’s XMR (-2.53%), and Tezos (+2.88%) also found strong support. Story continues Ripple’s XRP saw a more modest 0.49% gain for the week. Through the week, the crypto total market cap rose to a Monday high $289.13bn before sliding to a Tuesday low $252.62bn. At the time of writing, the total market cap stood at $272.05bn. At the start of the week, Bitcoin’s rose to a Monday high 67.13% before falling to a Thursday low 65.58%. At the time of writing, Bitcoin’s dominance stood at 65.97%. This Morning At the time of writing, Bitcoin was up by 0.19% to $9,765.8. A mixed start to the day saw Bitcoin rise to an early morning high $9,785.7 before falling to a low $9,745.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was another mixed start to the day. Binance Coin (+0.64%), Bitcoin Cash ABC (+0.38%), Bitcoin Cash SV (+0.09%), Litecoin (+0.21%), Monero’s XMR (+0.05%), and Stellar’s Lumen (+0.13%) joined Bitcoin in the green. It was a bearish start to the week for the rest of the majors. At the time of writing, Tron’s TRX was down by 1.00% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to move back through to $9,800 levels to bring the first major resistance level at $9,909.47 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Sunday’s high $9,814.0. Barring another broad-based crypto rally, the first major resistance level would likely limit any upside. In the event of an extended crypto rally, Bitcoin could eye the second major resistance level at $10,071.83 before any pullback. Expect plenty of resistance at $9,900, however… Failure to move through to $9,800 levels could see Bitcoin struggle on the day. A fall back through the morning low $9,745.0 to sub-$9,650 levels would bring the first major support level at $9,489.27 into play. Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,231.43. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Strong Uptrend but First Discount at Fibonacci The Crypto Daily – Movers and Shakers -08/06/20 EUR/USD: Technical Outlook European Equities: Futures Point to a Mixed Start with no Stats to Influence GBP/USD Daily Forecast – Resistance At 1.2750 In Sight Price of Gold Fundamental Weekly Forecast – Fed’s Assessment of Economy Will Set the Tone || Craig Wright Called ‘Fraud’ in Message Signed With Bitcoin Addresses He Claims to Own: The credibility of Craig Wright – the Australian tech entrepreneur who controversially claims to be bitcoin’s pseudonymous inventor, Satoshi Nakamoto – has taken another blow. After a list of bitcoin addresses Wright had provided as being his holdings in an ongoing court case were briefly and “inadvertently” made public by plaintiffs on May 21, 145 of the addresses were used to sign a public message both calling Wright a “fraud” and making it plain that he does not in fact own or control them. The court case was brought by Ira Kleiman, the brother of Wright’s former business partner, David Kleiman, and seeks half of 1.1 million bitcoin (worth around $9.6 billion) the two allegedly mined in the early days of the cryptocurrency, as well as intellectual property. The case hinges on whether Wright can prove he has the keys to the trove of cryptocurrency. Related: Bidooh Founders Admit to Cloning Business for Rival Advertising Venture While the list of addresses was quickly resealed by the Kleiman legal team , it still exists on Court Listener and looks to have provided a means for another individual to identify a number of addresses they in fact hold the keys to. That, in turn, enabled them to sign a message with the bitcoin keys . It reads: “Craig Steven Wright is a liar and a fraud. He doesn’t have the keys used to sign this message. The Lightning Network is a significant achievement. However, we need to continue work on improving on-chain capacity. Unfortunately, the solution is not to just change a constant in the code or to allow powerful participants to force out others. We are all Satoshi.” Some of the many addresses in the court filing published on Court Listener are indeed used to sign the message. The message was first brought to wider attention on Reddit , with the claim that the addresses are for bitcoin mined in 2009 and that have not been moved since. Related: Judge ‘Puzzled’ by Craig Wright’s Objections to Producing Evidence of Over 1.1M Bitcoin Story continues BitMEX Research tweeted it had taken “a random sample of 20” of the addresses and found they did not match the holdings of the “dominant” early bitcoin miner in 2009, who many think was Satoshi. The firm’s earlier research on this is to be found here . Wright had claimed in court his billions in bitcoin were held for him in so-called Tulip Trusts, but that he could not prove his control of the keys due to attorney-client privilege. He has been accused by the judge of “abusing” client-attorney privilege to withhold documents and “obfuscate” proceedings elsewhere in the case. Last August, the judge also found Wright had argued in bad faith, perjured himself and admitted false evidence. In another filing on May 21, the Kleiman team filed an omnibus motion for sanctions against Wright, claiming: “Wright has engaged in a sustained pattern of perjury, forged evidence, misleading filings, and obstruction – this included submission of false evidence which, if not unmasked, could have resulted in Plaintiffs being deprived of their day in court.” Saying the abuses are “undeniably directed at the singular goal of making it impossible for Plaintiffs to prevail at trial,” defendants seek sanctions and a default judgement against Wright. Wright, for his part, is hoping to bring new expert witnesses into court, one of whom is said to be a “licensed clinical psychologist who has studied Autism Spectrum Disorder.” If the judge rules in favor of Wright on this matter, Dr. Ami Klin “will testify that he has diagnosed Dr. Wright with Autism Spectrum Disorder with high intellectual skills. Dr. Klin’s testimony will help the jury understand how this disability affects behavior.” Another of Wright’s experts would testify on whether David Kleiman “had the requisite skills and experience to have written or significantly have contributed to the original Bitcoin software application released in 2009.” The Kleiman team is seeking to block the appearances of the four expert witnesses. Related Stories Cryptopia Users Win Victory in Court Case Over Crypto Assets Worth Over $100M Blockchain Association Says Court ‘Erred’ With Decision to Block Telegram’s Token Issuance || The Crypto Daily – Movers and Shakers – June 26th, 2020: Bitcoin fell by 0.52% on Thursday. Following on from a 3.55% slide on Wednesday, Bitcoin ended the day at $9,257.0.
A bearish start to the day saw Bitcoin slide to an early morning intraday low $9,011.0 before finding support.
Bitcoin fell through the first major support level at $9,121.37 before rising to a late morning high $9,346.6.
Falling well short of the major resistance levels, Bitcoin fell back through to sub-$9,200 levels.
Steering clear of the major support levels, Bitcoin struck a late intraday high $9,349.0 before falling back into the red.
Bitcoin fell well short of the day’s pivot level at $9,400 and the first major resistance level at $9,593.47.
The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,300 levels. Bitcoin continues to hold above the 23.6% FIB of $8,900.
For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Thursday.
Bitcoin Cash ABC and Bitcoin Cash SV bucked the trend, with gains of 0.35% and 0.46% respectively.
It was bearish for the rest of the majors on the day.
Stellar’s Lumen (-1.90%), Tezos (-1.53%), Cardano’s ADA (-1.06%), and Ripple’s XRP (-1.02%) led the way down.
Binance Coin (-0.50%), EOS (-0.88%), Ethereum (-0.92%), Litecoin (-0.59%), Monero’s XMR (-0.65%), and Tron’s TRX (-0.06%) saw relatively modest losses.
Through the current week, the crypto total market cap rose to a Monday high $272.54bn before falling to a Thursday low $251.99bn. At the time of writing, the total market cap stood at $259.08bn.
Bitcoin’s dominance jumped to a Monday high 66.20% before sliding to a Wednesday low 65.65%. At the time of writing, Bitcoin’s dominance stood at 65.81%.
At the time of writing, Bitcoin was up by 0.22% to $9,277.5. A mixed start to the day saw Bitcoin fall to an early morning low $9,205.0 before rising to a high $9,299.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day for the majors.
Bitcoin Cash SV (-0.80%), Cardano’s ADA (-0.12%), and Tezos (-0.68%) saw red early on.
It was a bullish start to the day for the rest of the majors, however. Stellar’s Lumen led the way, at the time of writing, with a 0.96% gain.
Bitcoin would avoid a fall through the $9,200 pivot to support a run at the first major resistance level at $9,400.33.
Support from the broader market would be needed, however, for Bitcoin to break out from $9,300 levels.
Barring another extended crypto rally, the first major resistance level and Thursday’s high $9,349.0 would likely cap any upside.
In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,543.67.
Failure to avoid a fall through the $9,200 pivot level could see Bitcoin struggle later in the day.
A fall back through the morning low $9,205 would bring the first major support level at $9,062.33 into play.
In the event of another extended crypto sell-off, the second major support level at $8,867.67 and 23.6% FIB of $8,900 could come into play.
Thisarticlewas originally posted on FX Empire
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• Economic Data, COVID-19, and Trump to Put the Greenback in the Spotlight || CryptoKitties developer launches NBA TopShot, a new blockchain-based collectible collab with the NBA: WhenDapper LabslaunchedCryptoKittiesback in November 2017, the company's take on Tamagotchi was seen as the first popular use of blockchain-based applications. It was the first popular use case outside of Bitcoin as a speculative investment.
Like all fads, CryptoKitties didn't last, but the app proved thatDapper Labscould build a compelling collectible -- and that brought the company the attention of the National Basketball Association.
Now Dapper Labs is finally launching a beta version of theNBA TopShotapp it has worked on since it began discussions with the league and Players Association back in 2018.
Built on the company's own blockchain, the app is the latest attempt from blockchain companies to take on the sports world's fixation with collectibles.Bayern Munich signed an agreement with Stryking Entertainmentto create digital tokens of its players -- and that company is developing a fantasy sports platform called Football-Stars, according to the WebsiteSportsTechie. Even the Sacramento Kings have their own blockchain-powered auction platform.
"At its core it’s digital collectibles," said Caty Tedman, the vice president of partnerships at Dapper Labs. "They’re multimedia and data smashed together into a token. That includes heroic photography and a video as well through a partnership with SportRadar. We have all the metadata from the game. The box score … the context. Any everyday block might not be as memorable as when LeBron put someone on a poster."
The collectible component is only one aspect of the game, which will include opportunities to showcase collections, get new tokens by completing in-app challenges and a challenge feature where players can use their team to engage in one-on-one games using the collective skills from the roster ofNBAstars that a user has collected.
The first iteration is 2019 to 2020 moments of the season, but Dapper Labs expects to reach back into the archive to use historical all-stars.
The tokens will be sold in packs that range in price from $9 to the mid-$200 range, according to Tedman. The game will also include a peer-to-peer marketplace for trading the tokens.
"These digital moments are much closer to physical trading card collecting as opposed to an in-app purchase… they have that same feeling," said Tedman. || Mining Pools Distribute $2.4M Transaction Fee After Flood of Phoney Refund Claims [Updated]: UPDATE (June 16. 08:50 UTC): This article has been updated with a note from Spark Pool, which has decided to distribute transaction fees to its miners. Two mining pools have called time on waiting any longer for an ether whale to reach out after making two transactions with unusually high fees worth in the millions of dollars last week. Bitfly, the company behind the Ethermine pool, announced Monday it had opted to distribute a total of 10,668 ETH (now worth just under $2.4 million) in transaction fee to miners that were active at the time the transaction went through last Thursday. “As the sender of the transaction … has not contacted us after 4 days we have made the final decision to distribute the tx fee to the miners of our pool,” Bitfly tweeted . “Given the amount involved we believe 4 days is sufficient time for the sender to get in touch with us.” Chinese mining pool Spark Pool has also now said that it will distribute its $2.6 million transaction fee out to its members. “The legitimate sender of the transaction has not yet contacted us to provide a validating signature to prove their identity,” the company said. “We have, therefore, decided to distribute the transaction fees to Ethereum miners working on that day.” On Wednesday, Spark Pool processed a transaction from a single address with a hefty ETH balance , who sent a minuscule 0.55 ETH (then worth $133) with a transaction fee worth $2.6 million at the time. Barely a day later, at approximately 04:00 UTC on Thursday morning, the same address sent 350 ETH with another fee, also worth $2.6 million. When the network’s running smoothly, the average fee for an ether transaction hovers around the $0.50 mark. Two transactions would, therefore, cost about $1. But in total this single wallet holder, who has not been identified, dished out over $5.2 million in fees for just these two transactions. Related: Mining Pools Distribute $2.4M Transaction Fee After Flood of Phoney Refund Claims [Updated] Story continues Spark Pool, which has been through this before , froze the transaction to give the sender time to reach out and work on a deal to reclaim some of the transaction fees. After it happened again, less than a day later, Ethermine followed suit and gave the sender a grace period to get in touch. See also: Bitcoin Mining Pool Poolin Partners With BlockFi to Expand Crypto Lending Service But that hasn’t happened. Bitfly said it had instead received requests from, “multiple people [who] claimed being the sender of this transaction, [but] none of them was able to produce a valid signature of the sending account.” Perhaps flagging from the volume of phony requests, the company has ruled out freezing transaction fees like this ever again, regardless of how much the fee might be. “In the future, we will no longer interfere in the payout of large tx fees,” they tweeted . “Our advertised payout policy is to always distribute the full block reward and we will be sticking to that independent on the amount involved.” Spark Pool has said it will distribute the transaction fee out to the miners who were active on that day, based on a snapshot of miner hash rate that will be taken on Wednesday at 07:30 UTC – exactly seven days after processing the mysterious transaction. Related Stories ETH Whale Pays $5.2M in Fees for 2 Mysterious Transfers Totaling $82K [Updated] ConsenSys Muscles Into Compliance With New Regulatory Product for DeFi || Facebook’s WhatsApp Rolls Out Digital Payment Service In Brazil: Facebook Inc.’s ( FB ) WhatsApp has launched a payment service across Brazil to allow users to send money securely to individuals or make a purchase from a local business without leaving their chat. With the digital payment service tool, the social media giant seeks to attract over 10 million of Brazil’s small and micro businesses into the digital economy and open up new opportunities for growth. The payments feature on WhatsApp is run via Facebook Pay and processed by Cielo in Brazil. Shares in the Brazilian payments processor on Monday jumped 20% to $0.98 in U.S. trading. In the future, Facebook wants to make it possible for people and businesses to use the same card information across Facebook’s family of apps. For individuals, the payment service of sending money or making a purchase on WhatsApp is free of charge. Businesses will pay a processing fee to receive customer payments, similar to what they may already pay when accepting a credit card transaction. The social media network has in recent months seen a boom in user numbers as the coronavirus pandemic accelerated the need for remote social engagement as well as for online business and working tools. Shares in Facebook rose 1.7% to $232.50 at the close on Monday extending its rally to a whopping 59% since mid-March. The stock is up 13% on a year-to-date basis. In light of the recent rally, the $244.93 average price target by analysts now implies limited upside of 5.4% in the coming 12 months. ( See Facebook stock analysis on TipRanks ). Five-star analyst Justin Post at Merrill Lynch this month reiterated a Buy rating on the stock with a $265 price target, saying that Facebook has the potential to capitalize on the user surge it experienced during shelter-in-place orders. “In the long term, the social media platform is poised to benefit from several under-monetized and under-value assets such as Messenger, Marketplaces and Watch, and material e-commerce growth opportunities”, Post wrote in a note to investors. Story continues TipRanks data shows that overall Wall Street analysts have a bullish call on Facebook shares. A stellar 31 out of 35 analysts have a Buy rating on the stock with the rest keeping a Hold rating for now. Related News: Facebook And PayPal Invest In Indonesian App Gojek Facebook Holds ‘Productive’ Call With Trump, As Social Media War Rages On Microsoft Seeks $2B Stake In India’s Jio Platforms- Report More recent articles from Smarter Analyst: Zogenix Finally Receives FDA Nod For Fintepla, Analysts Bullish On Outlook Apple’s Integrated Ecosystem Takes the Cake, Says Top Analyst Is Bitcoin Coming to PayPal? 5-Star Analyst Weighs In Evoke Pharma Set to Gain 170%? This 5-Star Analyst Thinks So || Forex Technical Analysis & Forecast for July 8, 2020: EUR/USD, “Euro vs US Dollar” After breaking 1.1300 to the downside and starting a new correction towards 1.1250, EUR/USD has reached the short-term correctional target at 1.1260 and returned to test 1.1300 from below. Possibly, today the pair may form a new descending structure to reach 1.1250 and finish the correction. Later, the market may resume trading inside the uptrend with the target at 1.1380. GBP/USD, “Great Britain Pound vs US Dollar” GBP/USD has finished the ascending wave at 1.2580; right now, it is falling to reach 1.2515 and may later grow towards 1.2555, thus forming a new consolidation range. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.2460. USD/RUB, “US Dollar vs Russian Ruble” After completing the ascending wave at 72.20, USD/RUB is about to finish the first descending impulse towards 71.20 and may later grow to reach 71.70, thus forming a new consolidation range between these levels. If later the price breaks this range to the downside, the market may form a new descending structure with the short-term target at 70.60. USD/JPY, “US Dollar vs Japanese Yen” USD/JPY is still consolidating around 107.50. Today, the pair may fall towards 107.40 and then start another growth to reach 107.80. Later, the market may form a new descending structure with the short-term target at 106.90. USD/CHF, “US Dollar vs Swiss Franc” After finishing the ascending impulse at 0.95450 along with the correction towards 0.9415, USD/CHF is expected to form one more ascending structure to break 0.9460 and then continue trading upwards with the predicted short-term target at 0.9510. However, there might be an alternative scenario, which implies that the price may break 0.9410 to the downside and continue trading inside the downtrend to reach 0.9380. AUD/USD, “Australian Dollar vs US Dollar” AUD/USD is forming another descending wave to reach 0.6905, Later, the market may start another growth towards 0.6940 and then resume falling with the short-term target at 0.6860. Story continues BRENT Brent is still correcting towards 42.42 and may later form one more ascending structure to reach 43.80. After that, the instrument may start another decline to return to 42.42 and then resume moving upwards with the target at 45.02. XAU/USD, “Gold vs US Dollar” After breaking 1786.00 to the upside, Gold is expected to test it from above and then continue growing with the short-term target at 1799.17. Later, the market may start a new correction to reach 1777.77 and then resume trading upwards with the target at 1800.00. BTC/USD, “Bitcoin vs US Dollar” BTC/USD is falling towards 9126.00 and may later correct to reach 9250.00 thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 9550.00; if to the downside – resume trading inside the downtrend to reach 8700.00. S&P 500 After forming the consolidation range above 3160.0 and breaking it to the downside, the Index is expected to correct towards 3120.0. After that, the instrument may resume trading upwards with the target at 3240.3. For a look at all of today’s economic events, check out our economic calendar. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex Disclaimer Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein. This article was originally posted on FX Empire More From FXEMPIRE: COVID-19 Cases Hit 3m in the U.S and the Numbers Are Set to Continue Rising Forex Technical Analysis & Forecast for July 8, 2020 Gold is Getting Ready for More Upside Price of Gold Fundamental Daily Forecast – Gloomy Fed Officials May Have Greenlit Next Rally U.S. Stocks Mixed After Yesterday’s Sell-Off GBP/USD Daily Forecast – British Pound Continues Its Upside Move || Bitcoin News Roundup for June 4, 2020: Staff at Bitmain now have a decision to make: whether to return to the office and which executive they choose to take orders from.
Micree Zhan Ketuan, the Bitmain co-founder who was ousted in a coup by his rival Wu Jihan last October, sent out a letter addressed to Bitmain employees via his WeChat feed on Thursday, saying he had returned to the company’s Beijing office starting from June 3.
He further called for staffers at Bitmain to return to the office to join him and said he will “lead the company to complete an initial public offering as soon as possible and push Bitmain’s market capitalization to over $50 billion in the next three to five years.”
Due to the impact of the coronavirus outbreak, most of Bitmain’s Beijing staff have been working from home since earlier this year. A video circulating online and verified by Chinese crypto media source BlockBeatsshowsthat Zhan led a group of private guards and forcefully entered Bitmain’s office in Beijing on Wednesday.
According to one Bitmain employee, who spoke to CoinDesk under the condition of anonymity, Zhan was also handing out cash bonuses worth 10,000 yuan ($1,500) to those returning yesterday and 5,000 yuan ($700) for those that turned up today.
The news marks the latest twist in Bitmain’s bitter internal fight which has cast doubts among investors and customers over the management of the world’s largest bitcoin miner manufacturer.
Recently the dispute evendescended into physical confrontationbetween the management factions as Zhan regained his official status as a legal representative of the Beijing Bitmain Technology Limited, the main operating entity of Bitmain.
Related:Bitmain’s Feuding Co-Founders Are Fracturing the Firm and Staff Are Caught in the Middle
Going by Zhan’s letter on Thursday, it also looks like there’s been a “hard fork” of the company’s official seal, of which there are now appears to be two.
Early last month, as Zhan recovered his status as legal representative of Beijing Bitmain, he was entitled to receive a new business license for the company issued by a Beijing government agency that oversees corporate registrations.
However, at the time, Zhan was not in possession of the official seal of Beijing Bitmain. In China, a company’s official seal is as important as the role of the legal representative in terms of signing a company’s decision into effect. Forging an official seal is anoffenseunder China’s criminal laws.
Since the tussle at the government office, Bitmain has been discussing with staff the transferring of their employment contracts from Beijing Bitmain to another parallel subsidiary, Beijing Guiyuan Dalu, according to one person familiar with the plan. Like Beijing Bitmain, the new entity is wholly owned by Bitmain Technologies Hong Kong and was officially registered on May 26. But the legal representative of Beijing Guiyuan Dalu is not Zhan.
On May 27, it was reported by Chinese cryptomediathat Zhan had issued a document on May 25 in an effort to fire Liu Luyao from his role as Bitmain’s CFO, who was also involved in the May confrontation.
The document, signed by Zhan, did not bear the official seal of Bitmain. On the same day, Beijing Bitmainissueda statement with the official seal via its WeChat account, saying Zhan had no authority to act as a legal representative to give notices or directions to its staff.
The firm further said it was in possession of the effective official seal with a serial number of 1101070056574 and no employees should take Zhan’s directions or otherwise it will take legal actions.
However, Zhan’s June 4 letter bears a different official seal for Beijing Bitmain with a serial number of 1101081651178. Zhan also posted a statement on June 3 saying the previous seal – ending in 6574 – had been voided.
In the latest chapter of the saga, Bitmain issued a statement via its official WeChat account on Wednesday accusing Zhan of forging an official seal of the company and said it has hired lawyers to take legal action against him.
Zhan already has ongoing legal cases against Bitmain regarding his voting power in the company in the Cayman Islands, where Bitmain’s ultimate controlling holding entity resides.
EDIT(14:49 UTC): Added new information about bonuses being offered for returning to work.
• Internal Struggle at Bitcoin Mining Giant Bitmain Escalates to Physical Confrontation
• Jihan Wu || Expecting a spike in bitcoin? Investors say it may take time: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Investors expecting a sudden surge in bitcoin's price, after it underwent a technical adjustment three weeks ago that reduced the rate at which new coins are generated, may have to wait a few months, or perhaps a few years.
Bitcoin traded in narrow ranges after it went through a third so-called halving on May 11, which cut the rewards given to those who "mine" bitcoin to 6.25 new coins from 12.5.
There were some expectations that bitcoin would soar, similar to what happened after the two previous adjustments as the "halving" effectively decreased its supply.
The virtual currency has gained 11% since the adjustment, but it had more down days than up days and analysts said technical momentum overall was negative. In contrast, bitcoin had soared more than 40% from January this year until the "halving."
On Thursday, bitcoin was at $9,783 <BTC=BTSP>. It breached $10,000 twice after the "halving" but retreated as it found tough resistance at that level.
"Bitcoin is on a see-saw, between bulls and bears," said Nicholas Pelecanos, head of trading at NEM Ventures. "On one end, we have network data and technicals; the other, strong fundamentals and a correlation to U.S. stock indices."
He added that bitcoin's network data is flashing more bearish than bullish signals, as he expects further short-term selling.
Beyond the short term though, many investors expect a price surge.
The first halving, in November 2012, catalyzed a rally for bitcoin from about $10 to $1,160 in 12 months. The second halving, in July 2016, saw bitcoin jump more than 300%, from $650 to $2,800 within the same time span.
"It may take six to 12 months for investors to reap the rewards of post-halving price movements," said Lennard Neo, head of research at Stack Funds.
"In reality, there is a significant time lag between the halving event and the establishment of renewed market equilibrium based on general supply and demand," he added.
Since miners' profits have contracted as block rewards decreased by 50%, the "halving" has affected the supply side of bitcoin and increased the time needed for miners to find their break-even point.
Once this is found, Stack's Neo said, bitcoin is likely to realize its "halving-induced" price appreciation.
Investors are also banking on higher institutional demand to further propel the price of bitcoin. Fund flows into the biggest crypto asset managers have been robust in the midst of the coronavirus pandemic.
"When we look at institutional inflows for our products and that of another asset manager, what you're seeing are purchases that have now outstripped, for the first time, new bitcoins being created by 150%," said Danny Masters, chairman of CoinShares, with $1 billion in crypto assets.
Michael Sonnenshein, managing director at Grayscale with $4 billion in crypto assets under management, said since April the firm's bitcoin investment fund has ballooned to $3.5 billion as of June 2, from $2 billion at the end of the first quarter.
"There's a lot of momentum and interest in investing in digital currencies particularly in the face of uncertainty, the pandemic, political tensions, and the amount of stimulus being pumped into the global economy," said Sonnenshein.
James Wo, chairman of Digital Finance Group, a $500 million crypto and blockchain fund, likens bitcoin to digital gold, and as such, the digital currency has barely scratched the surface.
"Bitcoin has great potential to grow," said Wo. "Gold has an eight trillion-dollar valuation, while bitcoin has less than $200 billion dollars in valuation. It just needs more time for mainstream adoption. People need enough time to fully understand and believe in it."
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Alden Bentley and Steve Orlofsky)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Mike Novogratz Predicts Next Crypto Cycle Begins in October: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. AUSTIN, Texas — Mike Novogratz is going to wear his luna (LUNA) tattoo into the next crypto supercycle as a mark of humility, and he expects that upturn to take place in the fourth quarter. Speaking at CoinDesk’s Consensus 2022 conference, Novogratz said bitcoin (BTC) isn’t going to “trade well before the Fed flinches and takes its foot off the break,” though he does expect the world's most popular digital asset to bottom out before U.S. equities do. “My hope is that by the fourth quarter, the economy will be slowing enough that the Fed says we are going to pause, and then you will see the next crypto cycle start,” he said. “Then bitcoin will break from equities and lead markets.” "Rates are going to 5% in the U.S. I hope crypto can decouple," he added. As for how Galaxy Digital (GLXY) and others might navigate the next bull market, Novogratz said to "fight the impulse to be so greedy." Those who got into luna early enough had an easy 300X return, he said, and that's just not reality in the markets. "When ecosystems go real fast, there’s a reason for it. Know what you are investing in. You don't get 18% for free." Galaxy Digital is down 68% year-to-date, underperforming bitcoin, which is lower by 38%. || Big-Money Investors Who Boosted Bitcoin’s Price Might Now Crash It: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
A key narrative in the crypto world in 2021 was the arrival of institutional investors to the space. Tesla (TSLA)bought$1.5 billion worth of bitcoin (BTC) and Wall Street banks likeJPMorgan Chase(JPM) andMorgan Stanley(MS), as well ashedge funds, started allocating client assets to bitcoin that year.
Not only were these institutional investors a sign of growing mainstream acceptance, they also appeared to drive up prices. Crypto boomed with the sector’s market capitalization growing 185% that year.
Now, as the crypto market's latest swoon wipes off $1.25 trillion from the industry's all-time high market capitalization reached late last year, the question has risen: What role is institutional money playing in the crash? Or to put it more bluntly, are institutional investors making things worse?
One thing we know: The crypto market is increasingly correlated to the stock market, and institutional investors appear to have heightened that correlation. And when the stock market goes down, it takes crypto with it.
“The influx of institutional interest in BTC, which started to pick up in early 2020 with public declarations of interest from stalwarts of traditional investing, such as Paul Tudor Jones and Renaissance Technologies, coincides with a sustained jump in the 60-day correlation between BTC and the S&P 500,” according to anApril 2022 report by Genesis Trading.(Genesis is a subsidiary of Digital Currency Group, which also owns CoinDesk.)
The three-month correlation between bitcoin and ether (ETH) and the major U.S. stock indexes reached a record high last week, according toDow Jones Market Data.
For bitcoin bulls, the nettlesome takeaway is that the recent crypto crash can't be delinked from the downturn in traditional markets.
Stocks are now in a bear market after the Federal Reserve’slatest rate hikeof 50 basis points, or 0.5 percentage point, at its latest Federal Open Market Committee (FOMC) meeting in May.
Both crypto and traditional markets briefly skyrocketed after Fed Chair Jerome Powell ruled out a larger increase than that at upcoming meetings, but they quickly reversed course after what Paul Hickey, co-founder of Bespoke Market Intelligence, called a “reality check.”
The S&P 500 and the Nasdaq both dropped nearly 5% the day after the meeting on May 4. Bitcoin fell over 10%, now down over 35% year to date. For market watchers, the upshot was how closely they're traveling in tandem.
A recent report from Morgan Stanley found that institutional investors dominated trades in crypto in 2021, and that retail investors accounted for only a third of all trades on crypto exchange Coinbase, reported theFinancial Times.
“Client interest [is] concentrated more heavily onto the two main crypto assets, BTC and ETH,” analysts at data provider VandaTrack wrote, according to the newspaper. ETH stands for ether, the native cryptocurrency of the Ethereum blockchain. ”This matters because, as more institutions await the first results of the White House executive order on crypto regulation and the ETH merge to ETH 2.0, current price behavior will continue to be driven by TradFi assets.” (ETH 2.0 is shorthand for a planned upgrade of the Ethereum network, and "TradFi" is crypto-industry jargon for "traditional finance." The old world, as it were.)
“We think the increased involvement of institutions, which are sensitive to availability of capital and therefore interest rates, has contributed in part to the high correlation between bitcoin and equities,” the report stated.
So does that mean that those institutional investors who helped crypto to flourish a year ago are now a factor in the crash?
“Absolutely,” said Bob Iaccino, chief strategist at Path Trading Partners and co-portfolio manager at Stock Think Tank.
“We could make such an assumption, since the market has matured and a larger portion of participants are institutions, exposed to both crypto and traditional assets,” said Joe DiPasquale, CEO of BitBull Capital. “With time, it is plausible that we see faster tops and bottoms in the crypto space compared to the prolonged periods in the past.”
“This is the nature of tradable assets,” he said. “When assets are sold, all assets are sold. Bitcoin has correlated with the Nasdaq for quite a while now. This is no exception.”
It isn't easy to separate institutional and retail inflows and outflows. But sometimes you hear from the investors themselves. Miller Value Partners Chairman Bill Miller, known for beating the S&P 500 Index for 15 consecutive years,sold some of his bitcointo meet margin calls, noting that when things get tough you want to sell very liquid assets – in this case bitcoin.
Take a look at the “Coinbase premium,” which is the difference between the price of buying bitcoin with dollars on Coinbase and the cost of buying bitcoin on Binance using the stablecoin USDT.
Crypto-market analysts look at this figure to evaluate who is the bigger force in the market at any given moment – institutional investors or retail investors. The thinking is that Coinbase's user base skews more institutional than Binance's. So if there's a premium, it usually means that institutional investors are leading the market higher.
But recently, the premium flippednegative and fell to a 12-month low, according to data from CryptoQuant.
“Usually, there is a Coinbase premium. This means that the bitcoin price on Coinbase is higher than on Binance. This was/is very important, because American institutions and HNW (High Net Worth) were trading mostly on Coinbase. However... in the latest few days it’s negative. This indicates heavy selling on Coinbase Pro!” CryptoQuant said in ablog post.
“The crypto investor from retail to institutional tend to also be the investor in tech stocks,” said Howard Greenberg, cryptocurrency educator at Prosper Trading Academy. "They tend to be those bullish on technology as a disrupter to current industries, and this crossover and correlation is playing out currently."
The connection apparently holds fast when the market goes into reverse, he said.
“For Institutions it is also easier to liquidate their crypto positions especially with the 24/7 access to their capital than some other positions, so they tend to be the first positions closed out,” he said.
“In the past year-and-a-half, we’ve had new entrants to the digital assets market from the macro hedge fund world,” Jeff Dorman, chief investment officer at Arca wrote in areport. “It’s the players, not the assets, that are correlated.” || UPDATE 4-Ruling in Grayscale-U.S. SEC lawsuit likely within a year - CEO: (Adds comments from Grayscale CEO; SEC decline to comment; bitcoin price) By Akriti Sharma and John McCrank June 30 (Reuters) - Grayscale Investments' lawsuit against the U.S. Securities and Exchange Commission for nixing the digital asset manager's proposal to create a spot bitcoin exchange-traded fund will likely be decided within a year, the company's chief executive officer said on Thursday. The regulator ruled late Wednesday that the proposal did not meet standards designed to prevent fraudulent practices and protect investors. (https://bit.ly/3yw4Nko) Grayscale wants to convert its Grayscale Bitcoin Trust , the world's largest bitcoin fund, into an ETF for listing on Intercontinental Exchange Inc's NYSE Arca exchange. The SEC rejected over a dozen spot bitcoin ETF applications in the past year, and approved several bitcoin futures-based ETFs. The rejections have focused on applicants' lack of surveillance-sharing agreements with regulated markets relating to the spot funds' underlying assets. "The SEC is acting arbitrary and capricious by continuing to approve bitcoin futures-based ETFs while continuing to deny spot bitcoin ETFs," Grayscale CEO Michael Sonnenshein said in an interview with CNBC. Grayscale sued the SEC almost immediately after its rejection, and because the defendant is a regulator, the case goes straight to the appellate court and a decision should made be within nine to 12 months, Sonnenshein said. The SEC, which also rejected a spot bitcoin ETF proposal by Bitwise on Wednesday, declined to comment. Other would-be issuers of spot bitcoin ETFs rejected by the SEC in recent months include Fidelity, SkyBridge and Valkyrie. The price of bitcoin fell below the milestone $20,000 level on Thursday, to $18,736, just off the volatile asset's 18-month low of $17,592 on June 18. Bitcoin hit a record-high price of $69,000 in November. The SEC's rejection of Grayscale's application did not reflect "an assessment of whether bitcoin, or blockchain technology more generally, has utility or value as an innovation or an investment," the regulator said. (Reporting by Akriti Sharma in Bengaluru and John McCrank in New York; Additional reporting by Niket Nishant; Editing by Leslie Adler, Bradley Perrett and Devika Syamnath and Richard Chang) View comments || US stocks edge higher as China softens its COVID-19 travel restrictions: People wearing face masks line up outside a store of French luxury brand Celine, at a reopened shopping mall amid the coronavirus disease (COVID-19) outbreak in Shanghai, China Reuters US stocks rose on Tuesday after China took steps to ease its COVID-19 travel restrictions. The country cut in half the time new arrivals to its country must stay in isolation. That's a sign that the country is getting serious about driving a rebound in its economic growth. US stocks moved higher on Tuesday as investors assessed the steps China was taking to ease its stringent COVID-19 restrictions. The country said it would cut in half the isolation time required by new arrivals to its country, in a sign that China is getting serious about driving a rebound in the growth of its economy. Additionally, Shanghai and Beijing both reported no new infections, an encouraging sign that supply chain bottlenecks should continue to ease. "The COVID crisis appears to be rapidly retreating in China, with no major cities in widespread lockdown and a rapid drop in cases being reported," Susannah Streeter, a market analyst at Hargreaves Lansdown, said. Here's where US indexes stood shortly after the 9:30 a.m. ET open on Tuesday: S&P 500 : 3,944.84, up 1.15% Dow Jones Industrial Average : 31,848.27, up 1.3% (410.01 points) Nasdaq Composite : 11,627.83, up 0.91% Concerns of the US entering a recession continue to be top of mind for investors this week. Ark Invest's Cathie Wood told CNBC on Tuesday that she believes the US is currently in a recession, implying the idea that second-quarter GDP growth will be negative. Meanwhile, New York Fed President John Williams told CNBC that a US recession is not his base case, and that the country could avoid a period of declining economic growth even in the face of higher interest rates. But higher interest rates are having a big impact on the housing market as mortgage rates touch the 6% threshold, leading to a slowdown in sales. Home price increases slowed in April, according to data from S&P Case-Shiller. Robinhood stock saw volatile trades Tuesday morning after Sam Bankman-Fried said FTX is not in active talks to acquire the brokerage firm. Robinhood surged as much as 22% on Monday following a Bloomberg report of a potential merger between the two companies. Story continues Warren Buffett continues to view Occidental Petroleum as an attractive investment, with SEC filings showing that Berkshire Hathaway added another $44 million to its more than $9 billion stake in the oil and gas explorer. West Texas Intermediate crude oil rose as much as much as 1.12% to $110.80 per barrel. Brent crude , oil's international benchmark, jumped as much as 1.29% to $116.58. Bitcoin rose 1.32% to $20,991. Ether prices jumped 3.79% to $1,225. Gold rose as much as 0.09% to $1,826.50 per ounce. The yield on the 10-year Treasury was flat at 3.22%. Read the original article on Business Insider || Bridesmaid stunned by 'bachelorette vacation' expenses: 'I'm not going to be paying for this': A bridesmaid asked TikTok for advice when the bride s financial requests made her uncomfortable. Bitcoin vs. gold: Which is the better inflation hedge? It was Erins first time being a bridesmaid in any wedding besides her sisters, so she wasnt sure what was proper etiquette in the situation. When she and the bridal party were booking the brides destination bachelorette party, Erin felt ambushed by some of the expenses. See this tiny New York apartment get an impressive redesign in one day with a $1,000 budget: How do you feel about the bridesmaids paying for the brides portion of the bachelorette party? she asked. This is the approach that her friends took when they paid for the brides plane ticket and Airbnb. But the matter wasnt really discussed until after the Airbnb was booked, which Erin felt was weird. The bridal party had already paid $300 apiece for the shower and bought the brides $400 plane ticket. Erin was responsible for booking the Airbnb on her credit card. At first, it broke down to $240 apiece, but the price went up when a bridesmaid dropped out. After the bride sent her portion of the Airbnb money to Erin over Venmo, Erin got a message from the maid of honor. The maid of honor demanded Erin refund the bride and that the bridesmaids pay the brides share. Its just weird to me. Obviously, I already agreed to go on the bachelorette party, so it would be weird for me to back out after I already booked the Airbnb, Erin said . When youre in a group message with nine other girls, youre not going to speak up and say, Im not going to be paying for this, or
Its out of my budget.
Everyone makes a different amount of money, and also everyone has a different comfort level when it comes to spending money on a trip like this. Erin wasnt sure how to approach the issue, and TikTokers shared their advice. I just find it odd that when someone decides to get married, all of a sudden, all of the people close to them are responsible for all of these expenses, a user commented . Story continues As the bride, I paid a larger amount of the Airbnb to keep costs reasonable. I wanted a really nice place and didnt think it should be at their expense, another wrote . Lost me at the flight. Im not flying anyone out, a person responded . This Brooklyn home office gets a California-inspired makeover with just $1,000: The post Bridesmaid stunned by bachelorette vacation expenses: Everyone makes a different amount of money appeared first on In The Know . More from In The Know: This luxurious eye cream really makes my under-eyes look dewier and brighter (with no irritation whatsoever!) The 10 best gifts that will last your dad for years to come TikTok attempts to answer Elon Musk's brain-teasing job interview question Former Goodwill worker explains why it's hard to find 'really good items' in-store || Bitcoin drops 50% from November peak: The market value of Bitcoin (BTC-USD) has fallen by 50% since its peak in November last year, tracking slumping global equities amid geopolitical tensions and inflation pressure.
Over the weekend, most of the majorcryptoscame under pressure and the downbeat mood carried over into Monday as the world's biggest cryptocurrency headed toward levels last seen in July 2021.
Bitcoin fell 4.4% to $32,980 (£26,780) on Monday afternoon in London, dropping out of the range it’s been trading in 2022.
Read more:Live crypto prices
The token has a market cap of $635bn and accounts for nearly a third of the $2bn cryptocurrency market.
Ether (ETH-USD), the second largest crypto, which underpins the Ethereum network, crashed 5% to $2,411 at the time of writing.
Bitcoin's fresh downturn puts it closer to breaching the January low of $33,000, completely reversing the bull run that drove the token to a record $69,000 in November last year
However, despite the fresh lows, the bitcoin bull is "yet to capitulate", analysts say.
"Correlation with risk assets has been obvious", particularly with the Nasdaq (^IXIC), including tech, growth, and bubble stocks, said Neil Wilson, chief market analyst of Markets.com.
"The weekend pricing gives us a clue as to what the Nasdaq might do — futures opened lower overnight and have held losses so far with little positive catalyst obvious."
It comes as stocks remained unnerved as tightening monetary policy to stem runaway inflation and ebbing liquidity pushed traders away from speculative assets across global markets.
As cryptoassets continue to exhibit a strong correlation with equities, experts warn a bearish Federal Reserve and theUkraine conflictcould increase bitcoin's volatility, as the crypto moves further away from its promise of becoming an immutable and decentralised hedge against the institutional financial system.
Read more:What does Fed hike mean for Bitcoin?
Russian president Vladimir Putin has not declared a war on Ukraine to "enable full mobilisation", Wilson added, warning the "bear market is a while from turning".
In recent days, central banks around the world, including the UK, US, and Australia, hiked interest rates in efforts to tackle rising prices. The Fed raised its key lending rate by 50 basis points, its biggest rate raise since 2000, while theBank of England raised UK interest rates to 1%, the highest level in 13 years. The Reserve Bank of Australia hiked its cash rate from 0.1% to 0.35% to curb inflation.
Bitcoin's decline follows the downward trend in major Asian and European equities on Monday, with London's bluechip FTSE 100 (^FTSE) shedding 0.2%, Hong Kong’s benchmark index (^HSI) tumbling 3.8%, and the Nikkei (^N225) slumping 2.5% in Japan.
The selloff has also dragged Wall Street’s S&P 500 (^GSPC) to its longest weekly losing streak in more than a decade, losing 23.53 points, or 0.6%, to 4123.34.
Some experts say the bitcoin's three-month low dip "will be used by investors as a buying opportunity".
Read more:European stocks extend decline as global markets remain rattled
Nigel Green, the chief executive and founder of deVere Group, said: "We except this dip to be used by ‘whales’ — who are individuals or entities that hold enough cryptocurrency to have the potential to move currency valuations — as major buying opportunities."
He said this was due to the "robust fundamentals" of the crypto, including "being a digital, borderless, viable, decentralised, tamper-proof, unconfiscatable monetary system" remaining intact. || Solana, Ether Lead Gains in Relief Rally, but Traders Say Macroeconomic Concerns Remain: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Crypto markets saw a brief rally in the past 24 hours, adding some 9.7% to market capitalization after a difficult weekend that saw prices of several coins plunge as much as 15%.
Bitcoin (BTC) fell to as low as $18,000 in a move thatsent the asset below its 2017 highs, with investors locking in a record amount of losses as per on-chain data. Ether (ETH) dropped to $929.
In the past 24 hours, however, Solana’s SOL and ether led gains among the top 10 coins by market capitalization with a 9% bump, while Cardano’s ADA and Polkadot’s DOT rose 7%. Bitcoin saw rejection at $21,000 after a brief recovery.
Outside of the top 10, Avalanche’s AVAX jumped 14%, Polygon’s MATIC added 12% and ApeCoin’s APE rose 16%.
Analysts at Bitfinex’s trading desk said the market jump displayed the inherent volatility of cryptocurrencies.
“While the trend of market turbulence is unlikely to recede as central banks call the shots amid an increasingly uncertain geopolitical environment, today’s relief rally demonstrates a latent potential for the price of digital tokens to rebound quickly,” the desk said in a message to CoinDesk.
Most of the crypto gains came amid a jump in broader equity markets as U.S. markets remain shut for the Juneteenth federal holiday. European stock index Stoxx 600 added 0.7%, Germany’s DAX gained 0.58% and Hong Kong’s Hang Send added 0.42%. Japan’s Nikkei 225 lost 0.72%, while the Shanghai Composite finished with nominal losses on Monday.
Market observers, however, remained unconvinced that Monday’s rally in cryptocurrencies will extend into the coming days.
“The market is highly dependent on the [Federal Reserve interest] rate, and inflation is breaking records with the macroeconomic factor remaining heavy,” said Anton Gulin, regional director at crypto exchange AAX. “Uncertainty prevails in the market, and relief rallies do not significantly change this picture.”
“Such market moves are a decent opportunity for daytraders but not for investors aiming to cut risks. We shall watch out for how the macro rhetorics change by autumn to see the mid-term direction of the markets,” Gulin added.
U.S. Federal Reserve Chair Jerome Powellhiked rates by 75 basis points last weekas the agency combats rising inflation and strives to bring costs under control. Inflation hit 8.6% in May, an increase of 0.3 percentage points from analyst expectations, and several more rate hikes are expected before September.
Some say such a macroeconomic climate is unlikely to support the continued recovery of the crypto market.
“Even though the recent price action has provided somewhat of a sigh of relief for bitcoin prices, it’s foolish to forgo the wider macro context in which crypto and finance operate,” Andrey Diyakono, chief commercial officer at Choise, said in a Telegram message.
“Commodities market indicators and [European Union] bonds market meltdown spell out worrying predictions for the world economy,” Diyakono stated, adding recent troubles seen at the crypto lender Celsius and prominent fund Three Arrows Capital have added to "crypto industry uncertainty.”
“We haven’t hit the bottom yet,” Diyakono concluded.
Vasja Zupan, president of crypto exchange Matrix, seconded the sentiment.
“I don't see bitcoin quickly returning to all-time high levels. We should probably brace ourselves for a long period of uncertainty during the crypto winter,” Zupan said in a Telegram message, adding a “strong recovery” to all-time highs could be on the cards when market sentiment turns positive.
“Bitcoin is also heavily influenced by global market sentiment, and when that changes, the asset will move much faster than other markets,” Zupan said.
Support for bitcoin exists at the $18,000 mark if the asset loses current trading levels, price charts show.
Read more:Bitcoin Sees Resistance at $21K as Investors Record Losses of Over $7B: Glassnode || Here’s Why Exela Is a Good Play on Business Automation: Source: Shutterstock
In the past year,Exela Technologies(NASDAQ:XELA) stock traded for as high as $5.45 a pop. That seems like a distant memory, as shares are changing hands for under half a dollar, at the time of writing. Volatile stocks are crashing as investors lose interest in growth stocks.
Every company comes with its own sets of merits. Suppose you are an aggressive investor that can stomach a bit of risk. In that case, companies like Exela Technologies are worth a look, especially since they have the opportunity to revolutionize the world. Hence, a small position is not without question.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The increase in optimism surrounding XELA stock is the huge total addressable market (TAM) for business automation. 2029 is just a few years away, so projections might change. Hence, you should regularly monitor this space. However, according to one estimate,the global industrial automation market will reach $395.09 billionby 2035.
Traditional software makers currently dominate this market. But there are emerging players who are looking to change the status quo. These players use AI and machine learning to provide solutions that users can customize for each company’s needs.
• 7 Retirement Stocks to Buy to Turbocharge Your Savings
XELA can help automate markets where necessary. Exela offers a range of solutions and services to help small businesses with their marketing. The number of nationwide companies that use these tools and services is increasing.
The largest business segment for the company is ITPS, which allows companies to manage data, process information and make informed decisions. Banks and governments are implementing digital technologies to modernize how they work. This is often considered a vital part of digital transformation. Exela has partnered with them so that these companies can meet their needs. The company has a suite of solutions that link different sets of information from various sources, including customer systems and standards. That makes them perfect for financial and accounting solutions.
The company has some ambitious targets to cut its debt by half a billion dollars in 2022, while they also plan to increase their free cash flow this year. The company plans to raise money for the business by selling certain non-core assets, a win-win situation for all sides.
For the last two years, the company has been under pressure as companies and administrations readjusted their budgets. However, the pandemic is becoming a thing of the past. Hence, the company can look to increase sales this year.
Hence, as someone who believes that Exela is positioned to grow sales in the future, I am confident that it will continue to transform business’ needs. Those who know Exela’s different sector-focused solutions are more likely to be interested in its services. Just like how they were interested in its past solutions.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More:Penny Stocks — How to Profit Without Getting Scammed
On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The postHereâs Why Exela Is a Good Play on Business Automationappeared first onInvestorPlace. || Bitcoin Rally Falters as Inflation Fears Weigh on Crypto Assets: (Bloomberg) -- Bitcoin, fresh off its biggest-ever monthly decline, whipsawed traders with wild swings on Friday as digital assets struggle to regain their footing. Most Read from Bloomberg Natural Gas Soars 700%, Becoming Driving Force in the New Cold War Citi Says Oil May Collapse to $65 by the Year-End on Recession Oil Plummets Below $100 as Recession Risks Come to Forefront Wall Street Says a Recession Is Coming. Consumers Say It's Already Here US Wants Dutch Supplier to Stop Selling Chipmaking Gear to China The largest token rallied as much as 11.3% in Asia on Friday, briefly closing in on the $21,000 level. Bitcoin then quickly gave up most of those gains, trading around $19,400 at 11:30 a.m. in London. Junes 41% drop was the steepest in Bloomberg data going back to 2010. Bitcoins gyrations underscore the uncertainty looming over cryptocurrencies as investors struggle to assess how far central banks will go to tame rampant inflation. Adding to the confusion, major crypto players ranging from hedge fund Three Arrows Capital to lender Celsius Network have been thrown into disarray by the market selloff, raising the prospect of further contagion. Euro-area inflation accelerated to a fresh record in June, with consumer prices jumping a faster-than-expected 8.6% from a year earlier. Inflation numbers for the zone have outpaced economists forecasts for 11 of the past 12 months. Bitcoin could be vulnerable to one more ugly plunge that could have many traders fearing a fall towards the $10,000 area if the turmoil on Wall Street continues in the third quarter, Edward Moya, senior market analyst at Oanda Corp., wrote in a note. The token last traded at those levels in mid-2020. The risks arent deterring El Salvador, whose President Nayib Bukele said on Twitter that the nation had again bought the dip, this time adding 80 Bitcoins at a price of $19,000 each. Earlier this week, Michael Saylors Bitcoin-backed tech firm MicroStrategy Inc. said in a filing it had purchased another 480 coins worth about $10 million at the height of the crypto swoon. Story continues Bitcoin has been gyrating around the $20,000 mark after crashing below $18,000 on June 18. The lack of direction is reminiscent of how the coin traded in the wake of the TerraUSD stablecoin collapse in early May, when it clung close to $30,000 for weeks before plunging again. Most Read from Bloomberg Businessweek The Lottery Lawyer Won Their Trust, Then Lost Their Mega Millions Google Is Going to Let Politicians Spam Your Inbox Geely Is Launching Satellites in a Bid to Bring Driverless Cars to China Gangs Are Fake-Killing People in India for Insurance Payouts Did Razzlekhan and Dutch Pull Off Historys Biggest Crypto Heist? ©2022 Bloomberg L.P. || Second half begins with rally in stocks, fall in yields: By Caroline Valetkevitch NEW YORK (Reuters) - The second half of the year started with gains in global stock indexes on Friday ahead of the long U.S. holiday weekend, while the 10-year Treasury yield fell the most since COVID-19 hit markets in March 2020. Copper prices slumped to their weakest in 17 months. Stocks were lower early in the New York session but rallied late to end higher. U.S. markets will be closed Monday for the U.S. Fourth of July holiday. "It's a Friday before a long weekend, so market movements can be somewhat exaggerated," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Cardillo said he expects stock market performance to improve overall in the second half of the year. "We're going to see more green days in the second half than we'll see red," Cardillo said. The U.S. benchmark S&P 500, which closed out its worst first-half since 1970 on Thursday, climbed 1.1%. MSCI's world stocks index, which on Thursday notched its biggest percentage decline for the first half of the year since its 1990 creation, rose 0.4%. The Dow Jones Industrial Average rose 321.83 points, or 1.05%, to 31,097.26, the S&P 500 gained 39.95 points, or 1.06%, to 3,825.33 and the Nasdaq Composite added 99.11 points, or 0.9%, to 11,127.85. The pan-European STOXX 600 index lost 0.02% and MSCI's gauge of stocks across the globe gained 0.39%. In Treasuries, yields tumbled as investors priced in the likelihood the Federal Reserve will force inflation down to near its target rate. The yield on 10-year notes tumbled 23.3 basis points from the open to the session's lowest point, before paring the decline, to end down 8.5 basis points at 2.889%. The two-year yield, which typically moves in step with interest rate expectations, slid 8.8 basis points to 2.839%. Both the two-year and 10-year yields were at roughly four-week lows. Data on Friday showed manufacturing production in the euro zone fell for the first time last month since the initial wave of the coronavirus pandemic in 2020, while inflation numbers hit another record high. In the United States, manufacturing activity slowed more than expected in June, with a measure of new orders contracting for the first time in two years, more evidence the economy was cooling amid aggressive monetary policy tightening by the Federal Reserve. Copper prices dropped as investors worried about a possible recession hitting demand for metals. Three-month copper on the London Metal Exchange had eased 2.6% to $8,047 a tonne after dropping to its lowest since early February 2021 at $7,955. Story continues Oil prices climbed amid supply outages in Libya and expected shutdowns in Norway, which offset worries that an economic slowdown could dent demand. Brent crude futures settled at $111.63 a barrel, rising $2.60, or 2.4%. U.S. crude settled at $108.43 a barrel, gaining $2.67, or 2.5%. The dollar was up on Friday, having just scored its best quarter since 2016. Pessimism about the global economic outlook boosted demand for the safe-haven U.S. dollar Friday while the Australian dollar, a proxy for global growth, fell to a two-year low. The dollar index gained 0.36% against a basket of currencies to 105.12. It is holding just below a 20-year high of 105.79 reached on June 15. The Australian dollar fell as low as 67.64 cents, the weakest since June 2020. Bitcoin, which suffered its biggest quarterly drop on record over the three months to the end of June, last fell 2.16% to $19,494.40. (Reporting by Caroline Valetkevitch; Additional reporting by Herbert Lash and Karen Brettell in New York; and Marc Jones in London and Tom Westbrook in Singapore; Editing by Sriraj Kalluvila, Will Dunham and Chris Reese) View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 20231.26, 20190.12, 20548.25, 21637.59, 21731.12, 21592.21, 20860.45, 19970.56, 19323.91, 20212.07
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-02-25]
BTC Price: 9341.71, BTC RSI: 45.25
Gold Price: 1646.90, Gold RSI: 69.83
Oil Price: 49.90, Oil RSI: 34.70
[Random Sample of News (last 60 days)]
How safe is a Bitcoin casino?: The number of Bitcoin casinos has rocketed in recent years as gamblers recognise the advantages of using Bitcoin over traditional currencies. Yet anyone thinking of visiting a Bitcoin casino for the first time will rightly have concerns about safety. Gambling itself is a risky business, and there have been several high-profile hacks and thefts in the cryptocurrency market. Despite this, gambling with Bitcoin isn’t necessarily as perilous as you might think. It could even be argued it’s more secure than gambling with fiat currency. Why use a Bitcoin casino? Gambling with Bitcoin instead of conventional currencies brings a whole host of advantages. One of the biggest benefits is the speed at which you can access your winnings. Making a withdrawal in a traditional currency can take around a week to complete because of the bureaucracy involved. A Bitcoin withdrawal, on the other hand, can be completed within minutes because there is no need for transactions to be approved by a third party. Another perk is low fees. Since there is no third-party approval process, users can send and receive Bitcoin instantly for a negligible cost. This is in stark contrast to traditional online casinos, where transfer fees can be high. Some people also like the privacy that a Bitcoin casino offers. You can deposit, withdraw, and play in complete anonymity. Security Although hacks and thefts are common in the cryptocurrency market, it’s worth pointing out these are largely confined to crypto exchanges. There has yet to be a major theft at a Bitcoin casino. In fact, Bitcoin casinos could be seen as safer than traditional casinos because of Bitcoin’s cryptographic nature. Bitcoin transactions are encrypted and verified several times at different points on the network. The private keys used in transfers are extremely lengthy, making them very hard to decode and, arguably, safer than using a credit card. Spotting rogue casinos Having said all that, there are good and bad Bitcoin casinos out there – just as there are good and bad traditional casinos. Story continues There are currently three Bitcoin casinos on the ‘blacklist’ at Casino.org: Euro Play Casino, Grand Reef, and Balzac Casino. They are deemed unsafe because of issues such as unsavoury business practices, unresolved customer problems, loose gameplay in free mode, slow payment time, and no information on licenses. Given the plethora of Bitcoin casinos available, it’s worth doing your due diligence to ensure you pick one you feel completely comfortable with. The first thing to look out for is proper accreditation and certification. In the UK, that means checking the Bitcoin casino has a licence from the UK Gambling Commission. Most safe and licenced Bitcoin gambling operators in the UK would also partner with official responsible gambling organisations, such as GamCare or Gamblers Anonymous. Other steps to take include reading reviews and ratings from independent review sites, reviewing the welcome bonus carefully, ensuring games are powered by reputable software providers, and looking for a casino with a large variety of games. You might also want to go with a casino that offers a system called ‘provably fair’. This is a tool that enables you to verify each roll result and ensure you’re not being cheated by the casino. Getting started Once you’ve found a Bitcoin casino you trust, you’ll need to set up a Bitcoin wallet to store your Bitcoin funds. Wallets come in three forms: online, software (offline), and hardware. It’s pretty much universally accepted that hardware wallets are the most secure form of wallet while online wallets are easier to use. Once you’ve got your wallet set up, you can make your deposit by entering the online casino address in your wallet. The funds will appear in your casino balance within minutes, and you can then start playing. Conclusion In theory, a Bitcoin casino isn’t any less safe than a traditional online casino – and in many ways, it could actually be more secure. The most important thing to check is that the site is reputable – this is especially vital given the anonymous, irreversible nature of Bitcoin. Fortunately, there are lots of independent review sites that can help you to assess each casino’s legitimacy. With the perks that Bitcoin gambling offers – anonymity, speedy deposits and withdrawals, low fees, and provably fair gaming – it’s easy to see why Bitcoin casinos are catching on fast. The post How safe is a Bitcoin casino? appeared first on Coin Rivet . || Binance US Now Offers Staking Rewards for These Two Cryptocurrencies: Binance US has joined other major exchanges in the staking game, adding staking rewards for cryptocurrencies algorand (ALGO) and cosmos (ATOM).
Announced Wednesday, the exchange said returns will be given on a monthly basis starting Feb. 1.
ALGO and ATOM are the only proof-of-stake (PoS) cryptocurrencies currently available on Binance US, a California-based licensee of one of the world’s largest cryptocurrency exchanges.
Related:Bitcoin Eyes Best January Close in 7 Years After 30% Price Increase
Binance US now joins Kraken andCoinbasein offering staking rewards on PoS coins, though the latter two exchanges only offer staking on Tezos (XTZ).
Binance US currently offers 28 cryptocurrencies on its platform. With U.S. compliance laws remaining a top concern for the Binance offshoot, the firm says it’s waiting for further regulatory clarity on Tezos.Binance US CEO Catherine Coley told CoinDeskthe exchange hopes to offer additional staking rewards once more PoS assets are listed.
An expected return per coin was not included in the Binance US announcement. Tezos staking returns on both Kraken and Coinbase runat roughly 6 percent, according to network figures.
An alternative to proof-of-work (PoW) mining, staking encourages cryptocurrency holders to participate in the network by depositing their coins in specialized public addresses. Users compound holdings through disbursed network rewards for verifying transactions while bolstering the network’s overall security.
Related:Bitcoin Cracks $9,400 to Reach Nearly 3-Month High in ‘Asia-Driven Rally’
Launched in September 2019, Binance US was launched to cater to U.S. citizens following Binance proper’sbooting of U.S. customersearlier that summer.
UPDATE (Jan. 29, 21:25 UTC): This post has been updated to include the product launch date, scheduled for Feb. 1, 2020.
• Bitcoin Rallies to Near $9,150 as Stocks Drop Over Coronavirus Fears
• Bitcoin Eyes $8.8K After Largely Erasing Last Week’s Dip || 9 Ways to Save Money This Year: 1. Take time to evaluate your current situation and how you can save more money. JGI | Jamie Grill | Getty Images It sounds basic, but you cant improve your finances if you dont know what they look like now. Look at your statements from the previous year -- how much did you spend on food? Rent? Entertainment? Are there easy places where you can make cuts? For example, I realized I was spending too much on eating out in 2018. This year, I want to make sure I keep plenty of nutritious food in my apartment, which should lessen the need for Seamless orders and help curb my spending. Related: 5 Potential Ways to Ensure Your Finances are Healthy During Entrepreneurship In order to keep our spending in check, we can use the simple budget outlined by Joseph Benoit here . That budget is broken down into two types of expenses: fixed and variable expenses. A fixed expense is one that is predetermined, such as a loan payment or rent. A variable expense includes things like my restaurant spending, which can change based on my actions. Jot down how much you expect to spend on major expenses, then track the difference between what you expected and what you did. Many banks have online features that can help you with this, but you can also make a spreadsheet for free. 2. Be willing to talk about finances with your partner. PeopleImages | Getty Images If you intend to share your financial situation with someone else, its important that you talk about money on a regular, continual basis. That can be a scary thing, especially if one of you has struggled in the past -- or is struggling now. Brittney Castro has some great tips on how you can make that conversation easier. Castro advises that you should start the conversation as slowly and calmly as possible. Dont just spring a money conversation on your partner. Instead, let them know a few days in advance that youd like to sit down and discuss finances. Then, when the day comes, ask them about their financial story -- give context to their current situation. Asking about how student loans helped them get a degree can be easier than bluntly asking whether they have a bunch of debt. Story continues Finally, Castro says that you shouldnt be satisfied with a single sit-down. Make your finances a long-term conversation, so that neither of you are surprised by the other. 3. Avoid Bitcoin and other high-risk options. Busakorn Pongparnit | Getty Images Entrepreneur Network partner and investor Phil Town often talks about the first rule of investing: Never lose money. Simple enough, right? But, thats Warren Buffetts rule, and its helped him become one of the most successful and influential investors in the world. Bitcoin and other cryptocurrencies might be able to make you a fortune overnight, but they might bankrupt you the next. If your goal is to safely, incrementally increase your savings, then Bitcoin probably just isnt a fit. If youre still interested, at least make sure youre educated about Bitcoin and cryptocurrencies. 4. Create a travel fund. Chalabala | Getty Images Brittney Castro advocates that anyone who plans on taking a vacation should think ahead and set aside money well in advance. Dont just budget for plane tickets or hotels, but also for the experiences or expenses you expect to need. For example, if youre coming to New York, you might budget in the cost of Broadway tickets, or a tour of Ellis Island, or a trip to the top of the Empire State Building. That way, you wont splurge and spend more than you can afford, but you also wont feel guilty about making purchases. Its a win-win. 5. Contribute to your 401(k). jygallery | Getty Images According to the Entrepreneur encyclopedia, a 401(k) is a retirement plan for employees that allows them to put part of their pre-tax salary in an account. The funds may not be withdrawn until employees retire without paying a penalty. If you are a full-time employee, you should be able to contribute to your 401(k). The IRS says there are four steps of setting up and maxing out a 401(k) that can help you either set up a 401(k) for your business or help you contribute to an individual account: choosing, establishing, operating and terminating. Heres a quick breakdown of each part. Choosing Start by thinking ahead toward retirement Learn specifically how money can be put aside for your and your employees retirement Establishing You take the necessary steps to put your plan in place. Depending on the type of plan you choose, the administrative steps may include: Put your plan in place by adopting a written plan and arranging a fund for the plans assets Tell your eligible employees about the terms of the plan Develop a record-keeping system Operating You want to operate your retirement plan so that the assets in the plan continue to grow and the tax-benefits of the plan are preserved. The ongoing steps you need to take to operate your plan may vary depending on the type of plan you establish. Your basic steps will include: Allow assets in the plan to grow while preserving the tax benefits. Cover eligible employees and make contributions Keep the plan up-to-date with retirement plan laws Manage the plan assets Provide information to employees participating in the plan Distribute benefits Terminating If the plan no longer fits, close it and notify the appropriate parties Discuss each of the four stages with a tax professional You can learn more about 401(k)s by checking out the IRS website. Related: 75 Items You May Be Able to Deduct from Your Taxes 6. Stop buying extended warranties. Maskot | Getty Images Be honest with yourself: How often have you really ever returned a microwave after three years, or a toaster after 18 months? Probably never, right? Yet, youve probably purchased an extended warranty before in order to give yourself that option. Theres a reason stores like Best Buy offer those extended warranties -- according to Entrepreneur Network partner Jeff Rose, those warranties contribute a huge percentage of the companys profits. They know youre more likely to lose the receipt or forget about the warranty than you are to actually return whatever you bought. You should do the same and save yourself some easy money the next time you buy something that offers an extended warranty. 7. Get a credit card if you dont already have one -- but make sure you manage your payments. Pattanawadee Kuntaro | EyeEm | Getty Images Credit cards can come with great rewards and/or cashback offerings that will help you save money on all sorts of purchases, and you can find one that suits your unique needs. If you spend a lot of money at the grocery store, you might be able to find one that saves you seven percent on every purchase. Or if you like to order from Amazon, you could get a card that gets you five percent back on every order. You can also get general cards that get you a few percent back on everything you buy. In order to find the right one for you, you need to know a few things: Does the card have a spending minimum? That is, how much do you have to spend on a monthly basis to earn that card? Does the card have a monthly fee? How much would you have to spend to make that fee worth it? What penalties can you incur for failing either the first two or failing to make your regular payments? After all, theres no point in getting a card that penalizes you more money than it saves you. 8. Being cheap can ultimately be costly. Vincenzo Lombardo | Getty Images If you want to save money this year, it makes a certain sort of sense that you might want to buy cheaper options. And that can be a great thing -- if possible, you should go to the grocery store more often, do meal prep or rent a movie or watch something on Netflix instead of paying $40 to go to the theater. But, if you need something to last, it makes sense that you should try to get it right the first time. If you need a new computer, dont buy a broken down one for $300 if it means youre going to need to replace it again next year. Because while that might save you money in 2019, its going to cost you in 2020. Related: Got 15 Minutes? Improve your Financial Health With These Quick Tips. More specifically, you should value things that will retain their value for a long time. For example, a used car with a great engine is often a better purchase than a brand-new vehicle, because a new cars value depreciates as soon as you buy it. Think of your purchases as investments -- evaluate what makes sense long-term, and be willing to take a short-term hit if it will pay out in the long run. 9. Create an emergency fund. designer491 | Getty Images The government shutdown highlights something we all should know, but rarely think about -- much of life is simply out of our control. We cant predict everything that is going to happen, but we can do our best to prepare financially for whatever comes our way. Phil Town breaks down his advice for an emergency fund in this video, but there are a few simple tenets to a good emergency fund: It should be able to last you three to six months It should be liquid -- that is, available at a moments notice It should only be touched for emergencies If youre going to use the emergency fund for just anything, youd probably be better off using it on your 401(k), stocks or other investments. But, the whole point is that its locked away until you really need it. || Tree-Shaped Blockchain System BigBang Core Announces Launch At AsiaWorld-Expo: Branded as the "first blockchain technology applied for the Internet of Things (IoT)", the system aims to improve upon current IoT-related concerns KUNMING, CHINA / ACCESSWIRE / January 3, 2020 / SINGAPORE - On 11 December, blockchain system BigBang Core held their very first conference at the AsiaWorld-Expo in Hong Kong. Also known as "the only blockchain technology applied for the IoT reality", the team announced the launch of the BBC project and showcased their mainnet, which was launched earlier on 30 November this year. The conference addressed several important blockchain issues, such as current trends and climates, as well as how traditional businesses can potentially tap into and adopt the blockchain technology, specifically for IoT purposes. At the conference, BigBang Core signed agreements for the strategic partnerships with several major corporations, namely Zhejiang Zheran Energy Technology Co. Ltd., Zhejiang ZhengTu Technology Co. Ltd., Shenzhen Strontium Duoduo Water Industry Co. Ltd., Zhongshan Subor Co. Ltd., and Yi Hua Department Store Holdings Limited. The partnerships will promote industrial integration of the blockchain technology, and mark an important milestone for blockchain to transition from the technology space to further physical applications. The BBC system stands apart from most of the existing projects within the sector as it comes with no pre-mined coins. While it may appear similar to existing peer-to-peer digital currencies, the technology is designed specifically for the data necessities of the IoT. This requires the implementation of a unique "tree-based structure" - a safe main chain linked with several applied branch chains - to contain multiple blocks, as opposed to single-chain structures such as Bitcoin. This allows the system to support potentially infinite Transactions Per Seconds (TPS) securely. The team, who worked on the project for 3 years, has already made a significant real-world impact within the industry. The system was used for a carbon emission indicator test conducted by a company in Hangzhou. This success will give both investors and users confidence that BigBang Core is a trustworthy, secure and industry-leading project for IoT-related blockchain requirements. Story continues Following the conference, BigBang Core is planning to incorporate their system into further several main areas: energy data quantification, agricultural big data as well as traceability and authenticity of logistical data and surrounding financial products. The BBC project is set to transform these industries from within by reevaluating and reinventing the way these industries and corporations contain, secure and distribute their valuable information. For more information on BigBang Core, visit bigbangcore.com . ### About BigBang Core: BigBang Core is a blockchain system nestled on a peer-to-peer network. Similar to popular peer-to-peer digital currencies, the transparent ledger is maintained in a decentralized way, achieving autonomous, secure management and efficient flow of digital assets. BigBang Core is designed for the data requirements of the IoT (Internet of Things). BigBang Core uses blockchain technology to provide a decentralized security management platform and achieve the performance requirement, such as high concurrency and low latency for IoT systems. Contact Info: Name: Vicky Shu Email: Send Email Phone: 96824113 Address: New Venture Centre, 18 Lam Tin Street, 26/F, Kwai Chung, N.T., Hong Kong Organization: BigBang Technology (Hongkong) ltd Website: https://www.bigbangcore.com/ SOURCE: BigBang Technology (Hongkong) ltd View source version on accesswire.com: https://www.accesswire.com/571922/Tree-Shaped-Blockchain-System-BigBang-Core-Announces-Launch-At-AsiaWorld-Expo || IRS removes ether and two popular gaming tokens as examples of convertible virtual currencies: The Internal Revenue Service (IRS), the tax collection agency of the U.S. government, has removed ether (ETH) and two popular gaming tokens - Fortnite’s V-bucks and Roblox’s Robux - as examples of convertible virtual currencies. The change took place on Wednesday, according to a report from Bloomberg Tax. The IRS’ section on virtual currencies now only mentions bitcoin (BTC) as an example. If V-bucks and Robux stayed on, it would have required millions of users to a new disclosure requirement - Fortnite and Roblox reportedly have a combined user base of over 300 million. The IRS’ new disclosure requirement, in revised tax-filing Form 1040, asks people to answer yes or no for a question on whether or not they received, sold, exchanged, or otherwise acquired a financial interest in virtual currency during 2019. On its website, the IRS defines virtual currency as a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. While convertible virtual currency is defined as one that has an equivalent value in real currency, or that acts as a substitute for real currency. Bitcoin is one example of a convertible virtual currency, per the IRS. “Bitcoin can be digitally traded between users and can be purchased for, or exchanged into, U.S. dollars, Euros, and other real or virtual currencies." It is worth noting that ether will still likely be treated as convertible virtual currency, just like bitcoin. || Bitcoin Faces Move to $8,200 After Dropping Out of Trading Range: View Bitcoins range breakdown has opened the doors for a deeper pullback to support levels at $8,200 and $8,000. The short-term indicators have turned bearish, supporting the case for further losses. A move above $8,750 is needed to revive the immediate bullish view. The broader outlook will remain bullish as long as prices are holding above $7,700, according to the weekly chart. Bitcoin has dived outits recent trading range, opening the doors for a pullback to deeper supportlevels. The top cryptocurrency ran into offers around $8,580 at 08:35 UTC and fell through the long-held support of $8,460 in a few minutes to hit a low of $8,340 a level last seen on Jan. 14, according to CoinDesks Bitcoin Price Index . The drop to nine-day lows confirmed a downside break of the recent trading range of $8,460 to $8,750. Related: Crypto Asset Firm Amun Launches Inverse Bitcoin ETP The cryptocurrency had entered consolidation mode during Sundays U.S. trading hours after the sudden reversal lower from highs near $9,200 range out of steam at $8,460 the level, which saw bitcoin turn lower on Jan. 8. So it seems safe to say the pullback from $9,200 has resumed with the range breakdown and a deeper drop to support at $8,200 and $8,000 could be in the offing. At press time, bitcoin is changing hands near $8,415, representing a 2.72 percent drop on a 24-hour basis. 4-hour chart The range breakdown has created room for a drop to at least $8,170 (target as per the measured move method). Related: Bitcoins Lighting Torch Reignites, Blazes Through 38 Countries in 3 Days Bitcoin charted multiple four-hour candles with highs around $8,200 in the Jan. 11-13 period. As a result, $8,200 is a key support to watch out for. On similar lines, the psychological level of $8,000 is also crucial support. On the higher side, $8,750 is the level to beat for the bulls. A sustained move at that level would revive the short-term bullish view and allow a re-test of recent highs near $9,200. Story continues However, a break above $8,750 looks unlikely, as the short-term indicators have made a bearish shift. Daily chart The MACD histogram, which is widely used to gauge trend strength and trend reversals, has crossed below zero, confirming a bullish-to-bearish trend change. The five- and 10-day moving averages (MAs) have produced bearish crossover. 8-hour chart Bitcoin has lost its upward trajectory, as indicated by the ascending pitchfork breakdown. The ascending pitchfork is a trend channel tool consisting of a median line in the center with two parallel equidistant lines on either side. These lines are drawn by from three points, representing a bottom, a correction high and a higher low. All in all, the oddsappear stacked in favor of a drop to $8,200 and possibly to $8,000. Weekly chart Bitcoin broke out of a six-month-long falling channel two weeks ago, confirming a long-term bullish reversal. The setup will remain valid as long as prices are holding above $7,700. Disclosure: The author holds no cryptocurrency assets at the time of writing. Related Stories Bitcoin Bulls Seek Stronger Move After Bounce to $8.8K Loses Momentum Square Crypto Is Creating a Lightning Development Kit for Bitcoin Wallets || Financial Services: The Coming Cataclysm: Alex Tapscott is a venture capital investor, co-author (with Don Tapscott) of “Blockchain Revolution: How the Technology Behind Bitcoin and Other Cryptocurrencies is Changing the World” and co-founder of theBlockchain Research Institutein Toronto. The following excerpt, written by Alex Tapscott, is from his new book “Financial Services Revolution.”
Facebook’s foray into cryptocurrencies should surprise no student of technology. After all, the digital revolution has transformed nearly every aspect of our lives, except banking. Financial intermediaries depend more or less on pre-internet technologies. Libra is simply the latest innovation to punch holes in the old model, establishing the battle lines for the future of our digital economy.
The stakes are high: The next era of commerce, economic activity and money is uncertain. Computer scientists are rewiring the economic power grid, and software engineers are re-coding the order of human affairs, exposing our lack of understanding of fundamental concepts like privacy, free speech and the role of large corporations in our lives. As the digital landlords of this new economy – Facebook, Google and others – challenge the supremacy of big banks, decentralized cryptocurrencies likebitcoin(BTC) force us to confront our understanding of money, value, and the fortress of regulations erected around these concepts, originally to protect those who used the system, and now to preserve the status quo. This is ultimately a struggle for control, as many parties – totalitarian governments in China and elsewhere, legacy financial institutions, big social media companies and other digital conglomerates, technology upstarts and other stakeholders – vie for even greater influence.
Related:No, Concentration Among Miners Isn’t Going to Break Bitcoin
Human beings have become increasingly comfortable with software and technology replacing human actors in many industries and many facets of daily life. Finance is the largest, most consequential and thus far most immovable industry of them all. The legacy banking system, digital conglomerates like Facebook, free and open cryptocurrency platforms such as bitcoin and, of course, governments are heading inexorably for a collision of historic proportions. The crash will be cataclysmic. Prepare for impact.
“They say that software is eating the world. Soon, tokens will be eating the world,” said Tyler Winklevoss. He’s right. Blockchain is the first native digital for value: We can use it to program virtually every asset under the sun. In the latest edition of “Blockchain Revolution,” we provided a taxonomy of these assets to help the reader understand their many differences. They were cryptocurrencies (bitcoin,Zcash,litecoin), platform tokens (ether, ATOMs,EOS), utility tokens (Augur’s REP), securities tokens (theDAO, Munchee’s MUN, Vocean’s crypto bond), natural asset tokens (carbon, water, air), crypto collectibles, stablecoins, and crypto fiat currencies (the Petro, China’s forthcoming crypto yuan).
In this section, we are going to focus on digitization of existing financial assets in the form of securities tokens and fiat-backed stablecoins. This is the world of open finance, which differs from decentralized finance, which we discuss later. Open finance refers to the opening of traditionally closed, analog and proprietary systems to blockchain and digital assets. Open finance will prove to be an opportunity and challenge for incumbents, regulators and market actors everywhere.
Consider equities. The global “stock market” is really a loosely knitted patchwork of local and regional exchanges, banks, broker dealers, custodians, clearinghouses, regulators, asset managers, fund administrators and other market participants and intermediaries. Though order books and market making are largely digitized, the underlying function of how these different parties actually clear, settle, custody and register ownership of assets is antiquated.
Related:Don’t Obsess Over Crypto End Users, We Still Need Developers to Build the Back End
Blythe Masters, former managing director of J.P. Morgan, the investment bank, and former CEO of Digital Asset, told us:
Bear in mind that financial infrastructures have not evolved in decades. The front end has evolved but not the back end. It’s been an arms race in technology investment oriented toward speeding up transaction execution so that, nowadays, competitive advantages are measured in nanoseconds.
She was referring to high-frequency trading: “The irony is that post-trade infrastructure hasn’t really evolved at all.” Blockchain holds the potential to reduce radically the cost, complexity and friction in markets by allowing market participants to connect, clear and settle peer to peer instantaneously.
0x, an open protocol that enables P2P exchange of assets on the Ethereum blockchain, is a pioneer in this regard. Though not all the assets traded on this exchange are financial, some are. So far, 0x has conducted over 713,000 transactions worth $750 million [as of 9/2019]. As underlying platforms like Ethereum, Cosmos, Polkadot, EOS,and others scale, so, too, will the capacity of the applications and financial business use cases that employ them. tZERO, a subsidiary of publicly traded Overstock, has made great strides in this area as well. In the summer of 2019, Overstock announced that shareholders of the publicly traded company would receive dividends as a digital token listed on tZERO. Patrick Byrne, former CEO of Overstock,saidof the move, “Five years ago, we set out to create a parallel universe: a legal, blockchain-based capital market. We’ve succeeded.” Byrne has reasons to be optimistic that this parallel universe of digital assets will create challenges and opportunities for new entrants and incumbents alike.
Securities tokens not only reduce friction, cost, and complexity. They also enable broader participation in capital markets, because they lower barriers and they allow us to imagine building liquid marketplaces for a wide variety of assets, from real estate to private equity and venture capital (VC). Greater transparency, market depth, and liquidity should improve price, access, and the overall healthy functioning of markets.
Not all assets will work as tokens. But we see tokenization working when several conditions are satisfied:
1. Is there an established or untapped demand for an asset?
2. Do people or institutions want to buy the asset but can’t currently?
3. Are there high barriers to transferability or liquidity in an asset?
4. Are transaction costs high, spread too wide or are other barriers so prohibitive that market participants choose to avoid the asset class altogether?
5. Is blockchain required to digitize the asset — that is, the asset simply isn’t workable in a traditional system?
6. Is the industry highly consolidated or highly fragmented?
If the answer is yes to a majority of these questions, then the asset is a likely candidate for securities tokens, and a highly fragmented market should make experimentation or innovation easier. Tokenized equity, debt and real estate already exist. We may eventually see tokenized sports teams, music catalogues, wine portfolios, fine art and event tickets, to name a few. Securities tokens may help improve access to wealth creation for average people by lowering barriers to entry and expanding investment options.
This opportunity is not without challenges: it lacks technology, business, market and regulatory infrastructure. Anthony Pompliano, co-founder and partner at Morgan Creek Digital, believes that securities regulators “took the idea of the rich get richer and … wrote it into law. They took the best performing assets with the best returns and put them behind a firewall.” He was referring to the Securities and Exchange Act of 1933, which limited many investment opportunities to high-net-worth individuals. He called it a “violation of the American dream.” If these kinds of investment opportunities remain limited to the richest of the rich, then we haven’t really democratized the benefits of blockchain-based financial innovation.
The lines defining “financial services” will begin to blur as everything becomes an asset and everyone becomes a market participant.
Consider Props. Props is a native digital token created by the popular video application YouNow, though it can work inside any application. YouNow was granted special authorization by the SEC to do a Regulation A offering of its token, approved in July, and already launched. Think of Props as stock options for the gig economy, for people like Uber drivers, homeowners who let their houses on Airbnb, or content creators. On YouNow, these people can earn money by sharing something on the platform. Otherwise, they can’t participate directly in the value creation from the growth of currently popular platforms such as Uber or Airbnb. Similarly, Uber drivers may get paid for completing a ride, but they don’t get a piece of the $75 billion that Uber is worth. The so-called “sharing economy” is really an “aggregation economy,” where powerful platforms capture most of the value, and contributors get the crumbs.
With Props, contributors to platforms like YouNow, and soon perhaps Uber, Airbnb and others, can get paid for their contributions and earn Props tokens. The supply of Props is finite and grows at a predictable rate, and so the more apps using the native token, and the more people earning and holding them, the higher the value of Props. Any application can plug into the Props application programming interface (API) and allow contributors to start earning real value in Props. Founders and investors will no longer be the sole beneficiaries of platform growth. In the context of financial services, we can view Props both as a new payment rail for organizing contributors in a network and as an incentive mechanism, like equity, for staying on the platform and adding value to it. Already, 200,000 people are using Props on YouNow with 100,000 Props transactions per day. The plan is to add more apps as time goes on. As Props becomes ubiquitous, other applications may be compelled to offer it to contributors—and, voilà, a new digital economy is born.
This new cornucopia of digital tokens will need common standards, with groups like the Enterprise Ethereum Alliance (EEA) helping to lead the charge. Marley Gray of Microsoft, who is a key contributor to the EEA’s Token Alliance, told us that common standards “remove the obstacles for defining assets. Blockchain should be just like using the payments network today. People should just use it.” He added, “You don’t need to understand the blockchain to use tokens. Let’s get to the point where we are actually driving business value. Let’s abstract this, make it common. Commoditizing tokens so any industry or company can create them.”
If different assets exist inside of silos that don’t speak to one another, then tokenization will have limited impact. Only through common standards and interoperability can tokenization reach its full potential. Fiat-backed stablecoins, such as Tether, USDC, and Libra are other examples of open finance. Not all stablecoins are backed dollar for dollar by reserves; and some, such as DAI created by MakerDao, exist entirely in the crypto asset world. Already, stablecoins have exploded in value, and for good reason. They offer an easy way to move value peer to peer instantaneously at a fraction of the cost of traditional payment systems like Venmo. Consider thefindingsof TradeBlock, a provider of digital currency trading tools for institutional investors:
[T]he aggregate total on-chain transfer volume across the largest stablecoins has now surpassed Venmo’s total payment volume. … [F]ees associated with sending stablecoins across the Ethereum network were dwarfed by merchant fees and fees from associated Venmo services. Across the five largest ERC-20 tokens, customers spent just $827,000 in Ethereum network fees to transfer more than $37 billion. Over this same period, fees and fees on associated services paid to Venmo are expected to reach $150 million.
Given this explosive growth, Facebook, Walmart and JPMorgan – and perhaps Google and Amazon – are including stablecoins in theirgrowth plans.
Cameron Winkelvoss said, “We are going to see many companies issuing coins,” adding that “a company like Facebook with its size and stature is very encouraging in validating the general idea of better and new payment rails powered by crypto. Whether it’s Libra or not [that succeeds], time will tell.” Consider Amazon: “You can pretty much get a package anywhere in the world. What you can’t do is get paid for that product. Amazon Coin could create the ability to extend the payment system to the edges of the earth.” No doubt, Libra is but the opening volley in this new competition among the world’s tech behemoths.
Pompliano believes Libra is a positive development but that it is also good for bitcoin and other cryptocurrencies. He said, “It’s the token density theory. If you set up a restaurant across the street from another restaurant, traffic at both restaurants typically goes up. Everyone’s foot traffic increases as you add density. So with each legitimate crypto that gets created and gets added it increases the overall value proposition of bitcoin.” Ryan Selkis, founder of Messari, summed it up simply by saying Libra will act as a “lead blocker” for other crypto assets.
Not everyone is so optimistic about corporate coins. “I’m not afraid of nuclear meltdowns or terrorist attacks. The only thing I’m afraid of is Facebook’s cryptocurrency,” said Ethan Buchman, co-creator of Cosmos. “Facebook perfected digital colonialism. While the early colonialist companies enslaved bodies, Facebook enslaves minds. This will be [its] historical legacy.” With Facebook settling with the U.S. Federal Trade Commission for $5 billion and with the SEC for $100 million while getting grilled by lawmakers, its road to launch Libra will be a hard one, and Facebook’s leaders will need to earn back the trust of those they let down. That’s a daunting challenge.
Still, the technology has its own momentum, which makes it unlikely at this point to be derailed. Financial markets – from stocks to bonds and everything in between – will be unrecognizable. Incumbents that bet big on blockchain will survive this coming revolution.
If land was the most important asset of the agrarian age, and oil was the most important asset of the industrial age, then data is the most important asset of the digital age. Information is the foundation of our digital economy and the lifeblood of some of the world’s largest and most profitable companies, such as Facebook and Google. Consider the reordering of the world’s most valuable companies over the last 20 years (see below). In this period, data has replaced oil as the main driver of business value in the world, and information behemoths have displaced the industrial giants.
We create all this data, yet we don’t own it – the digital landlords do. This is problematic because it means we can’t use that data to better organize our lives, we can’t monetize it, and it can fall into the wrong hands.
Information is one example of an asset that has had no open, transparent marketplace where stakeholders can discover price or exchange its value. This is part of a much broader problem that the digital age has exacerbated. Many assets have been outside market forces and susceptible to overuse or capture by large intermediaries. Like water, air or the oceans, powerful companies exploit the data and, in turn, the people who created it.
In a major research report for the Blockchain Research Institute, technology theorist [and CoinDesk’s very own] Michael Casey suggested that tokenization and digital scarcity brought about by crypto assets represents a solution:
Blockchain technology, and the cryptocurrencies, tokens and other digital assets that it has engendered, may be moving us toward a model of programmable money that incorporates an automated internal governance of common resources and encourages collaboration among communities. Digital scarcity, when applied to these tokens treats our increasingly digitized world differently from the pre-digital one. It raises the possibility that our money may itself become the tool for achieving common outcomes.
Developers of new decentralized applications are tokenizing all manner of resources – electricity and bandwidth for example, but also human qualities such as audience attention for online content or fact checkers honestly. … Once a community associates scarce tokens with rights to these resources, it can develop controls over token usage that help manage public goods. It’s dynamic money whose role extends beyond that of a unit of exchange, money that’s a direct tool for achieving community objectives.
In his report, Casey lays out a new taxonomy for these tokens and suggests at least five different types: media, identity, honesty, decentralized computing and the environment.
The potential is very significant for these tokens to enable new economies around assets that were either previously in the commons (such as the environment) or captured asymmetrically (such as our identities) by a few large technology intermediaries. Moreover, we can tokenize everything of value to ensure creators receive fair compensation. Now, individuals can capture the value from the data they produce in their online selves, choosing to keep it private or provide informed consent for its use, making money in the process. Individual artists can receive fair payment for the music they create as their songs roam the Internet collecting royalties. People can enter agreements enforced by smart contracts and verified by oracles in prediction markets. These capabilities will no doubt spread from the trivial (sports betting) to more meaningful markets like derivatives markets.
The lines defining “financial services” will begin to blur as everything becomes an asset and everyone becomes a market participant.
• Policymakers Shouldn’t Fear Digital Money: So Far It’s Maintaining the Dollar’s Status
• CoinDesk’s New Opinion Section: The Future of the Financial System Is Up for Debate || Toss a Bitcoin to your Witcher! Italian synth duo cover iconic song: An Italian synthwave band has recorded a crypto-inspired cover of the beloved ‘Toss A Coin To Your Witcher’ song from hit Netflix show The Witcher. ‘TOSS A bit-COIN TO YOUR WITCHER’ by the Melodicka Bros is a cyberpunk/synthwave rendition of the incredibly catchy tune famously sung by Geralt of Rivia’s bard/mate/annoyance Jaskier, played by Brit actor and singer Joey Batey. The fantasy show, based on a series of books by Polish author Andrzej Sapkowski, has been a huge success, partially driven by the popularity of The Witcher video games. The song is sung by Jaskier to drum up business for the titular Witcher, played by Justice League star Henry Cavill, a warrior who kills terrifying monsters for money. It is so popular it has inspired a slew of covers, including from Russian choirs, rappers, dance artists, violists, trumpeters, bagpipe players, and numerous heavy metal interpretations. A message posted with the YouTube video states: “Hey there bros! Enough with the metal covers. “Hope you enjoy our synthwave, cyberpunk, electronic twist on Toss A Coin To Your Witcher from the new series on Netflix. “This is not what we usually do, from next week we’ll be back with our regular schedule. See you soon!” The video was a hit with viewers, with nearly 127,000 views on YouTube at time of publication. One fan commented: “Whoever dislikes such an epic masterpiece should suffer in the dungeon of the great tomb of Nazarick… just saying.” Another added: “I’ll just toss a like and a comment to help the algorithm so you get your coins.” The post Toss a Bitcoin to your Witcher! Italian synth duo cover iconic song appeared first on Coin Rivet . || British Bitcoin Ponzi director evades regulators: British citizen Benjamin Reynolds, ex-director of the crypto Ponzi scheme Control-Finance, has evaded regulators for six months following initial legal action against him for misappropriating over 22,000 Bitcoins. Control-Finance was a multi-level marketing scheme that used the hype of the 2017 crypto markets to defraud over 1,000 customers. The Commodity Futures Trading Commission (CFTC) sought to serve legal papers to Reynolds for civil monetary penalties, disgorgement of ill-gotten gains, trading bans, and permanent injunctions against launching such a scheme again. However, Reynolds has been difficult to track down, leading the CFTC to request another 60 days to chase the elusive Brit. Process servers in the UK attempted to serve Reynolds at his registered address in Manchester in July 2019, listed in official Control-Finance documents as his service address. However, the address was abandoned. Telephone and email contact with Reynolds also proved fruitless, leaving the US regulator with few avenues to serve legal papers to the Ponzi director. According to Finance Feeds , the CFTC filed a motion on January 3 with the New York Southern District Court requesting that Reynolds be served through the popular UK newspaper The Daily Telegraph rather than receiving the papers in person. At this time, its unclear whether the motion will be passed. However, due to the amount involved, its highly likely the court will grant an extension at least. Huge crypto Ponzi scheme Reynolds defrauded customers in the period between May 1 to October 31 2017, a particularly volatile and hype-fueled period in the cryptocurrency markets. In an initial press release dated June 2019, the CFTC accused Control-Finance and Reynolds of misappropriating customer funds worth in excess of $147 million at the time. Through Control-Finance, Reynolds made outlandish claims, such as promising customers a 1.5% return on their investments per day and providing a safe-haven from Bitcoin market risks. Story continues In reality, Reynolds was pooling BTC sent to his company in single wallets and siphoning it off for his own nefarious means. In addition to the CFTCs investigation, its thought that officials from the Ulsan District Prosecutors Office in South Korea are also investigating the crypto Ponzi. You can read more about Bitcoin Ponzi schemes here . The post British Bitcoin Ponzi director evades regulators appeared first on Coin Rivet . || The cryptocurrency market is now valued at $300 billion: The global market capitalization ofall cryptocurrencieshas reached a combined total of $300 billion—a value that hasn't been seen since July 2019.
The total crypto market cap has been on the rise for the better part of two months, having climbed from a low of $178.1 billion in mid-December. Almost $18 billion was added to the crypto market in the last 24 hours, with most cryptocurrencies racking up significant price gains.
Bitcoin (BTC) was responsible for half of the market growth, after gaining 5.3% in the last day and adding almost $9 billion to its market cap. Federal Reserve Chairman Jerome Powell made comments in a hearing yesterday of theUS House Committee on Financial Services, about Libra and thepossibility of a US digital currency, shortly before Bitcoin's sudden $400 price rise.
Despite this growth, Bitcoin has seen its market dominance gradually shrink as several major altcoins have racked up significant gains in the last several months. In particular,Bitcoin Cash (BCH),Bitcoin SV (BSV),Ethereum (ETH)andTezos (XTZ)have all exceeded the growth of Bitcoin by some margin—gaining at least 39% and as much as 100% against BTC in the past month.
With that said, the exact cause behind this bullish momentum over the last few months is still up for debate, but currently appears to be a combination of several factors, includinggrowing institutional interest, the upcominghalving eventsfor Bitcoin and several other coins, as well as increased tensions between the US and Iran.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 8820.52, 8784.49, 8672.46, 8599.51, 8562.45, 8869.67, 8787.79, 8755.25, 9078.76, 9122.55
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-12-13]
BTC Price: 7269.68, BTC RSI: 38.63
Gold Price: 1475.60, Gold RSI: 52.89
Oil Price: 60.07, Oil RSI: 62.22
[Random Sample of News (last 60 days)]
The Crypto Daily – Movers and Shakers -20/11/19: Bitcoin fell by 0.66% on Tuesday. Following on from a 3.72% slide on Monday, Bitcoin ended the day at $8,164.9.
A mixed start to the day saw Bitcoin rise to an early morning intraday high $8,245.5 before hitting reverse.
Falling well short of the first major resistance level at $8,465.33, Bitcoin slid to an early afternoon intraday low $8,051.7.
In spite of the pullback, Bitcoin steered clear of the first major support level at $8,045.33.
In the late afternoon, Bitcoin struck a high $8,202.1 before easing back to sub-$8,100 levels.
Finding support late in the day, Bitcoin moved back through to $8,100 levels to limit the loss on the day.
For the bulls, the extended bullish trend remained intact in spite of failing to break back through the 38.2% FIB of $9,734. Bitcoin has continued to hold above the 62% FIB of 7,245.
Across the rest of the top 10 cryptos, it was a mixed day for the majors on Tuesday.
Bitcoin Cash SV led the way down, sliding by 6.02%.
Binance Coin (-3.09%), Bitcoin Cash ABC (-2.35%), and EOS (-1.71%) also saw relatively heavy losses.
Ethereum (-1.16%), Litecoin (-1.18%), Stellar’s Lumen (-1.56%), and Tron’s TRX (-1.43%) saw more modest losses on the day.
Bucking the trend on the day was Ripple’s XRP, which rose by 0.95%.
The bearish start to the week saw the total crypto market cap fall from a Monday high $237.09bn to a Tuesday low $221.13bn. At the time of writing, the total market cap stood at $225.19bn.
Bitcoin’s dominance moved back through to 66% levels as some of the majors saw heavier losses on the day. Trading volumes did pick up, however, with 24-hour volumes hitting $80bn levels before easing back.
At the time of writing, Bitcoin was up by 0.23% to $8,183.3. A mixed start to the day saw Bitcoin fall to an early morning low $8,135.0 before striking a high $8,191.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was also a positive start to the day for the majors.
Binance Coin, Litecoin and Tron’s TRX led the way with gains of 1.02%, 1.14%, and 1.51% respectively.
Ripple’s XRP (+0.80%) and Stellar’s Lumen (+0.60%) also found support, while EOS (+0.15%) and Ethereum (+0.24%) trailed.
Bitcoin would need to move back through the morning high $8,191.0 to support a run at the first major resistance level at $8,256.37.
Support from the broader market would be needed, however, for Bitcoin to break through to $8,200 levels.
Barring a broad-based crypto rebound, the first major resistance level and Tuesday’s high $8,245.5 would likely cap any upside.
Failure to move through to $8,191.0 levels could see Bitcoin spend another day in the red.
A fall through to sub-$8,100 levels would bring the first major support level at $8,062.57 into play.
Barring a crypto meltdown, however, Bitcoin should continue to steer clear of sub-$8,000 levels.
In the event of a broad-based sell-off, the second major support level at $7,960.23 could come into play…
Thisarticlewas originally posted on FX Empire
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 20/11/19
• The Expected and Thrilling Resolution of Oil’s Consolidation
• The Crypto Daily – Movers and Shakers -20/11/19
• Natural Gas Price Prediction – Prices Drop on Rising Supplies
• Gold Price Prediction – Prices Consolidate Despite Robust US Housing Data
• Gold Price Forecast – Approaching A Bottom || Bakkt CEO Will Be Asked to Fill Georgia Senate Seat in 2020: Report: Crypto custodian Bakkt’s chief executive Kelly Loeffler has reportedly been picked by Governor Brian Kemp to serve in the U.S. Senate until the special election in November 2020. Loeffler will likely be asked next week to serve as the replacement of U.S. Senator Johnny Isakson , who has announced plans to vacate his senate seat on December 31, according to a report by The Atlanta Journal-Constitution, citing “several senior GOP officials.” Last re-elected in 2016, Isakson is set to leave office before the expiration of his term in 2022. Kemp has authority to pick a replacement to fill in until the special election in November 2020. Related: Bakkt’s Bitcoin Futures Launch in Singapore in Just Two Weeks The governor’s office, The Republican National Committee, Georgia Republican Party and Senator Isakson’s office have not responded to a request for comment from CoinDesk. The Intercontinental Exchange (ICE) declined to comment. A subsidiary of ICE announced in 2018, Bakkt said it was cleared to launch in September, providing physically-settled bitcoin futures contracts. It also has plans for a consumer facing app next year. Loefller previously served as chief communication and marketing director at ICE. Additional reporting by Brady Dale. Related Stories Bakkt, Fidelity Will Store Galaxy Digital’s New Bitcoin Fund Holdings Bakkt in Discussions to Offer Cash-Settled Bitcoin Futures in Singapore Bakkt Expands Bitcoin Custody Service Beyond Futures Trading Clients View comments || Top 10 altcoins in 2019: Most crypto investors and enthusiasts are always looking for the best opportunity to scoop some altcoins. However, while it may be tempting to value altcoins versus the US Dollar, such a metric may lead to bad outcomes. In this piece I will look into the top altcoins and how they’re performing versus Bitcoin. Hopefully, at the end, it will be clear if now is a good time to purchase additional units, given each altcoin price vs BTC. Looking into Bitcoin dominance BTC dominance vs altcoins, courtesy of Trading View First things first. As I did mention last week , it’s important to focus on the overall state of the altcoin market. Hence, a key metric to look into, at either Coinmarketcap, Messari or Trading View, is the total Bitcoin dominance (BTC.D). Since early 2018, when Bitcoin’s dominance was on the low of around 33%, the world’s leading cryptocurrency has slowly begun to regain its due credit, as investors and traders flee the altcoin market on the burst of the ICO bubble. After the turmoil that remained throughout 2018 and the altcoin bloodshed of the current year, it seems Bitcoin investors may be looking into diversifying with riskier assets. Looking above, dominance shifted after the high during early September, when BTC.D touched 73%, to around 68%, where it sits now. Looking at the macro trend, it seems BTC.D has a tendency to grow exponentially fast and then spill over altcoins. If the trend continues, I argue altcoins are in for a treat. We could expect BTC dominance to eventually touch the support line (pink), perhaps after the halving event happening sometime in May 2020. This means some altcoins could have a serious pump. Which ones though? Current top contenders Top-10 altcoins vs BTC, courtesy of Messari.io Looking at the real top-10 list of altcoins, when measured versus Bitcoin, there seem to be some interesting surprises. I will ignore the coins I’ve discussed last week, such as ChainLink, Stellar and Binance coin. On this piece I will mainly focus on the rest of the pack. Story continues The first, and most obvious, is Ethereum. Looking above, it’s the most liquid after Bitcoin and has been out-performing the BTC over the last three months. However, ETH is still quite below it’s all-time-high (ATM), both in BTC and USD. Looking at the past year alone, ETH has underperformed BTC at some 30%. Moreover, in dollar terms, ETH is still 80% below its ATM. Ripple’s XRP has mostly suffered the same fate. It is down close to 50% since last year in Bitcoin terms and over 90% in dollar terms since its ATM, in early 2018. XRP has been recovering and, during the past three months, it went up more than 30% in BTC terms. Quite a nice recovery for the cryptocurrency. Bitcoin Cash, the project led by Roger Ver – an awesome guy I was able to talk to early this year – has been the worst performer of the pack. Even though it has been having loads of new commits, BCH hasn’t been able to push higher. It’s still sitting 60% below since last year in BTC terms and hasn’t been improving recently. Finally, both Litecoin (LTC) and EOS have been making shy attempts at pushing higher. While LTC is still down more than 20% since last year’s highs, EOS is above 55%. After the LTC halving event, which took place a month ago, the coin saw a huge pump followed by a massive dump. EOS has also been facing some issues with block producers, which may explain some of the recent price-action. Will altcoins ever pump? Even though it is impossible to see the future, if history has taught us anything, it is that present moments have a tendency to rhyme with the past. With new, fresh cash coming into the market, let it be due to DeFi, IEOs, STOs, or whatever new trend may happen, what I expect is a selected number of altcoins to massively pump, as they get adopted by new investors and traders. Surely history does not repeat itself, but since altcoins are a thing, they’ve pumped massively on every Bitcoin bull-run. Why wouldn’t the same happen again? Beats me. Hence, my stance is that some level of portfolio diversification may be the smart thing to do, in order to increase potential gains. Of course, with additional reward comes additional risk. Never forget, altcoins are not the king. On the best case scenario, most crypto enthusiasts will surf the altcoin trend in order to maximize Bitcoin gains. Safe trades! The post Top 10 altcoins in 2019 appeared first on Coin Rivet . || Bitcoin Keeps Failing at This Key Price Hurdle: • A four-month falling trendline proved a tough nut to crack during the Asian trading hours and reversed bitcoin’s rise from $9,200 to $9,500. The outlook, however, would turn bearish only below the 200-day average support at $9,127.
• The pullback from $9,500 to $9,200 lacked volume support and could be short-lived.
• A high-volume UTC close above $9,470 is needed to confirm an upside break of the multi-month falling trendline and open the doors for $13,880 (2019 high).
• Acceptance below the 200-day MA would weaken the immediate bullish. The resulting sell-off to $8,500, if any, will likely be transient.
Bitcoin’s (BTC) struggle for a bullish breakout continues with a falling trendline capping gains for the fifth time in 11 days.
The top cryptocurrency is currently trading in the red near $9,300 on Bitstamp, having faced rejection near $9,470 – the resistance of the trendline connecting June 26 and Aug. 6 highs – during the Asian trading hours.
The four-month trendline sloping downwards from the 2019 high of $13,880 first came into play on Oct. 26. On that day, prices clocked a high of $10,350 but failed to print a UTC close above the resistance line.
Related:The ‘Bitcoin Rich List’ Has Grown 30% in the Last Year, But Why?
Similar price action was seen on the following two days and on Monday when prices rose from $9,200 to a one-week high of $9,586 but failed to beat the trendline hurdle.
The repeated failure to scale the multi-month downtrend line may force some investors to question the sustainability of the recent rise from five-month lows below $7,500.
However, such fears may be premature, as prices are still holding above the 200-day MA support, a barometer of long-term market trends, as seen in the chart below.
Related:Bitcoin Outshines Gold for First Time Since June
BTC is again struggling to get past the descending trendline, currently at $9,470. Even so, it is early to call a bearish reversal, as the 200-day MA support at $9,127 is intact.
The average has been restricting downside since Oct. 30, having worked as resistance multiple times in the 16 days to Oct. 11.
All-in-all, BTC is being squeezed between the long-term average support and the falling trendline resistance.
A high-volume UTC close above $9,470 is needed to confirm an upside break of the falling trendline. That would imply a resumption of the bull market from lows near $4,100 seen at the beginning of April and open the doors for resistance at $13,880.
On the downside, acceptance below the long-held 200-day MA support at $9,127 will likely invite stronger selling pressure, leading to a drop to $8,500.
A bullish breakout looks likely, as the cryptocurrency tends to pick up a strong bid six months ahead of reward halving,as discussedlast week.
Note that the recent pullback from $10,350 lacked volume support. Essentially, it represents a bull breather and could be reversed.
BTC jumped from $9,273 to $9,586 in the 60 minutes to 22:00 UTC on Monday with buying volume (green bar) hitting the highest level since Oct. 31.
Indeed, the spike has been erased with prices falling to $9,165 a few hours ago but with weak trading volumes. Therefore, the possibility of BTC rising back to highs near $9,600 cannot be ruled out.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoinimage via Shutterstock; charts byTrading View
• How Many More Birthdays Until Bitcoin Wins?
• Bitcoin’s Defense of Major Support May Fuel Price Bounce to $9,600 || Crude Oil Price Update – Weakens Under $56.81, Strengthens Over $58.21: U.S. West Texas Intermediate crude oil futures finished higher on Friday after recovering from early session weakness. The early sell-off was fueled by concerns over whether OPEC and its allies would agree to deepen production cuts when they meet on December 5-6, and renewed uncertainty over a trade deal between the United States and China after President Trump said he had not agreed to rollback tariffs as previously reported the day before.
On Friday,December WTI crude oilfutures settled at $57.24, up $0.09 or +0.16%.
The price action suggests that the intraday short-sellers may not have believed Trump. This shifted investor sentiment as investors renewed their optimism over a trade deal, triggering Friday’s short-covering rally.
The main trend is up according to the daily swing chart, however, momentum is trending lower. A trade through $57.88 will signal a resumption of the uptrend. The main trend will change to down on a move through the last swing bottom at $53.71.
The minor trend is down. It turned down on Friday. This move changed momentum to the downside.
The main range is $62.74 to $50.89. Its retracement zone at $56.81 to $58.21 is resistance. This zone is also controlling the near-term direction of the market. Last week, this zone stopped the rally at $57.88 on November 7. The market also closed on Friday inside this zone.
The intermediate range is $59.11 to $50.89. Its retracement zone at $55.97 to $55.00 is new support.
The short-term range is $50.89 to $57.88. If the sell-off resumes then its retracement zone at $54.39 to $53.56 will become the primary downside target.
Based on Friday’s price action and the close at $57.24, the direction of the December WTI crude oil market on Monday is likely to be determined by trader reaction to the main 50% level at $56.81.
A sustained move over $56.81 will indicate the presence of buyers. The first targets are the minor top at $57.88 and the main Fibonacci level at $58.21. Overcoming $58.21 will indicate the buying is getting stronger. This could trigger a further rally into the September 23 top at $59.11.
A sustained move under $56.81 will signal the presence of sellers. The first target is the intermediate Fibonacci level at $55.97. This is a potential trigger point for a break into the intermediate 50% level at $55.00.
Thisarticlewas originally posted on FX Empire
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• U.S Mortgage Rates See Red for the First Time in 4-Weeks || Top Fintech Trends Entrepreneurs Must Watch in 2020: Financial technology (fintech), for all of its faults, helps us get more things done more efficiently. Artificial Intelligence (AI) takes it even further, allowing us to conduct business and have conversations when there isn’t even another human involved. We can have online chats with bots, for example, to accomplish or learn myriad things. Innovation is always on the horizon, though, especially in the fintech realm. As more fintech options become commonplace, every industry must either adapt or be phased out. With the turn of the new year, 2020 promises big changes in how we manage, spend and access our money, so you'll want to keep an eye on some of these emerging trends as you make financial decisions regarding partnerships and investments. Minimizing Traditional Institutions Several types of financial business elements that have been handled manually or by standard institutions, like payroll, insurance and securities, are becoming automated. We’re seeing online-only banking that eliminates the cost of brick-and-mortar buildings, and the best of them will be sharing the benefits with their customers in the form of higher returns and lower fees. Related: Why Fintech Is Potentially Big for New Entrepreneurs Companies adapting quickly to fintech and automation should also work to uphold compliance and maintain good standing with the governing agencies. As regulation and risk-management for fraud, money-laundering and identity theft are becoming big business, regulation technology (regtech) companies are utilizing AI to combat these crimes faster and more efficiently than humans can. The growth of fintech is causing a wave of startups and the opportunity for investment in the regtech realm. Stepping Up Online Trading Black box trading is a proprietary, fully automated option for your investments that has been talked up and down for its attributes. It’s legal since it’s not expressly illegal, and relies on algorithmic and low-latency technologies. Computers and data-mining are not infallible, though, so you might want to consider a more personal approach. Story continues Copy trading is basically crowd-sourcing applied to your portfolio. You can choose your favorite investors to follow and mirror their investment moves based on whatever percentage you want to allocate. Not only can it open you up to investments you might not know about, but you’ll also be able to interact with and gain insight from other members and influencers in real-time. Monitoring Cryptocurrency Advancements and Conversions In the digital world, financial assets can be used and exchanged with cryptocurrency, which isn’t tied to standard currency systems. Its online, open-source administration doesn’t require banks or governments for regulation or exchanges, allowing anyone to participate in the system from anywhere in the world. However, since there is so little regulation, the cryptocurrency market is extremely volatile . Several companies are trying to be competitive with Bitcoin as the space continues to evolve. Smart contracts represent one such innovation by allowing people to enter into business contracts online with the terms managed by the system automatically as the parties verify that they’ve held up their end of the deal. This could be revolutionary for the real estate market. While blockchain transactions normally take place on public ledgers, many people don’t want their financial transactions to be public knowledge for a multitude of valid (or shady) reasons. There are companies out there offering a type of cryptography that makes transactions anonymous and untraceable without damaging the blockchains. This can create interesting options for investors and further regtech developments as well. Related: 3 Trends Happening to Fintech That You Should Know About Although converting your cryptocurrency to real-world currency is possible with Bitcoin ATMs in many major cities, it’s not easily accessible. There are a few online-conversion services and crypto debit cards. These methods often have fees, taxes and delays that hinder access to your money, which means it’s a wide-open avenue for innovation and new technology to emerge. Considering Mergers and Collaborations Finally, as you watch for opportunities to invest or invent, I predict you’ll continue to find that banks are trying to create partnerships with fintech and regtech companies as a means to stay relevant. Don’t be surprised if these are unsuccessful at saving the traditional institutions, because most of them are still trying to operate under the same old standards. They need new strategies for marketing and product offerings, not just new accounts on their books. As you move into 2020, keep that in mind for your own business decisions as well. || Ebullience Galore: Reports that the US-China trade deal will include tariff rollback underpinned positive risk sentiment . The S&P500 ripped to record highs , gold was down 0.9%, and oil was up 2.2%. The WSJ reports the spokesperson for China’s Commerce Ministry as stating that if Phase 1 of the US-China trade deal is signed, both sides have agreed to lift some tariffs “simultaneously based on the content of the deal”. The bond market responded especially favourably: US 10-year treasury yields were up 9bps to 1.92%, their highest since the end of July. Recall back then the markets were mulling a minuscule % reduction in tariffs in exchange for China buying agricultural products, so the markets have undoubtedly taken the road less travelled since then. That said and read into this how you will, pouring a glass of ice water on the enthusiasm Reuters headlines suggesting that no decision has been made on the US side have weighed a little on sentiment and causing risk asset to stumble into the NY close. So, missing this critical piece of the puzzle there remains a touch of uncertainty, but assuming the phase one is all but fait accompli, from here to the actual execution of the deal it’s hard to expect much if anything else to propel expectations in a positive direction further. If the phase one deal is signed, the markets will then pivot to the degree of rollbacks in exchange for harmony on remaining structural issues. Its been a hugely busy 24 hours and while the trade headlines are being pointed to for the market moves. But the old bond trader in me from a former life still thinks this is as much about market positioning and the start of the pain trade unwinds as it is about the actual headlines. Traders were forced to mark up probabilities on reaching a deal on the other structural issues. With bonds lower, cyclical stocks higher and banks ripping. Defensive strategies like gold fell prone to the trade truce euphoria. Story continues Bond yields are still the signal for these moves, and if this momentum continues, institutional equity market bears could be stopped in. With more pain to be had if a break of the critical 3100 SPX level unfolds and then beyond, on that basis alone it might be too early to fade the move even with the Whitehouse throwing cold water on the rally. Oil markets Headlines that the US and China have agreed to roll back tariffs in phases sent oil markets ripping overnight. The level of tariff reductions that would accompany the first phase of the deal will depend on the content of the agreement, which has yet to be finalized, but it is a significant positive to see a softer stance from the US, and consistent with the view that President Trump would prefer the trade issues resolve to suggest he might be more inclined to make tariff compromises. But the day would not be complete without its usual trade talk twists and turns as oil prices veered lower after Reuters headlines suggesting that no decision has been made on the US side have weighed a little on sentiment. The possible tariff rollbacks have for the time being put to rest a lot of hand wringing in the oil markets. Still, there remains an element of uncertainty as the US administration has yet to stamp their seal of approval to the latest China trade headlines. Outside of the binary trading impulse on trade talk headlines the market continues to mull the reports that OPEC delegates may choose to focus on stricter compliance with the existing production cut agreement rather than new reductions which is also spooking the market, especially in the face of the seemingly never-ending run of US inventory builds. Gold markets Since gold was the primary beneficiary of escalating tariffs so now, it’s a casualty of their rollback. Gold finally took out the omnipotent $ 1480 level and after that trap door sprung it was a one-way street to $ 1460. Seventh time was indeed a charm after gold had touched $1,480 six times since October 2 and has held. But with US yields soaring, gold buyers predictably absent as ETF flows have been flat all week, and with China reporting a halt in buying for the first time in ten months, the writing was on the wall. Recall the PBoC gold purchases in late 2018 was the primary catalyst that started the 2019 version of the gold rush. So, removing that critical central bank backstop, gold investors may not have the same sense of bravado as what they had when the central bank was backing up the truck on gold markets. China hits pause on its gold-buying spree after ten months (Bloomberg) In November 2018 PBoC Gold purchases were the clearest signal that China was digging in for the long haul on the trade war front and provided a significant impulse for investors to buy gold .So could the reverse hold true that China hitting the pause button could be the signal that we have finally reached a thaw in the US-Sino tensions? But what matters for gold, and I hate to sound like a broken record amid all the inane theories on why gold should go higher. What ultimately matters more for gold is the hard and exact inverse correlation to US yields and the US dollar. With US 10-year nominal yields loitering around 1.95 % and the dollar looking attractive, gold lost some of its shine. The market’s latest direction of travel on US bond yields has weighed on gold allocations significantly as has the neutral Fed monetary policy guidance and stronger US equities.But absent a significant risk-off event or material shift in trade talk momentum, it’s hard not to expect the current trend to continue albeit with a possible phase of consolidation between the new $1460-1480 goal posts most probable. Currency markets As we mentioned yesterday, despite the risk-on mood, it seems higher US yields will naturally generate some bid for the dollar. But with very low vols its tough even for the G-10 pros to find a directional bias outside of USDJPY which remains the primary beneficiary of higher US bond yields and frothy risk on the momentum. But if the trade truce froth returns chances are commodity-linked currencies could also be boosted. Yesterday we got a relatively dovish Bank of England with two votes in favour of a cut. Despite this, the market still doesn’t have a full cut priced in Cable dropped on the 7-2 split vote from the Bank of England and dovish statement. But with the market skew towards a bullish Brexit outcome, position in sterling is very much to the top side. Under normal circumstance an unexpected central bank dovish pivot could trigger a sell-off in the 2-3 % magnitude, even more so with some participants thinking rate hike post-Brexit. So, with cable precariously perched just above 1.2800, it appears to be on less than stable footings even more so when you factor in the bullish Brexit position and the potential for a long squeeze to unfold. Before dipping your toe into the Euro pond, the EU commission cuts it eurozone growth forecast and now sees muted inflation making for a pretty grim read. EU Commission cuts eurozone growth forecast, sees muted inflation (Reuters) This article was written by Stephen Innes, Asia Pacific Market Strategist at AxiTrader This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Prediction – Prices Fall Despite Smaller than Expected Inventory Build AUD/USD, NZD/USD, USD/CNY – Aussie Lower, New Zealand Dollar and Chinese Yuan Stay Steady Ebullience Galore Gold Price Prediction – Gold Tumbles as Yields Soar and Momentum Turns Negative Silver Price Forecast – Silver Markets Hanging Onto Trend Line Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 08/11/19 || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 28/10/19: Bitcoin Cash ABC On the Move Bitcoin Cash ABC rose by 2.45% on Sunday. Reversing a 2.14% fall on Saturday, Bitcoin Cash ABC ended the week up 16.8% at $261.26. A mixed start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $246.65 before making a move. Steering clear of the first major support level at $236.18, Bitcoin Cash ABC rallied to a late afternoon intraday high $269.5. Coming up short of the first major resistance level at $277.88, Bitcoin Cash ABC eased back to $260 levels before wrapping up the day at $261 levels. At the time of writing, Bitcoin Cash ABC was up by 1.22% to $264.44. A bullish start to the day saw Bitcoin Cash ABC rally to an early morning high $275.25 before falling to a low $261.15. Bitcoin Cash ABC broke through the first major resistance level at $271.62 and 23.6% FIB of $273 before easing back. In spite of the pullback, Bitcoin Cash ABC steered well clear of the major support levels. For the day ahead, a break back through the first major resistance level would support another run at the 23.6% FIB. Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $270 levels. Barring an extended rally through the day, the first major resistance level at $271.62 would likely limit any upside. Failure to break back through the first major resistance level could lead to a pullback later in the day. A fall through to sub-$260 levels would bring the first major support level at $248.77 into play before any recovery. Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$240 levels on the day. [fx-image src=https://www.tradingview.com/x/TN7gHuG4/ originalWidth=761 ratio=1.3 data-zoom-target=https://www.tradingview.com/x/TN7gHuG4/] Litecoin Sees Red Litecoin rallied by 5.31% on Sunday. Following a 0.16% fall on Saturday, Litecoin ended the week up 9.01% to $59.91. A bearish start to the day saw Litecoin fall to an early morning intraday low $55.77 before finding support from the broader market. Story continues Steering clear of the first major support level at $52.55, Litecoin rallied to a late afternoon intraday high $62.96. Litecoin broke through the first major resistance level at $62.81 before sliding back to sub-$60 levels late in the day. At the time of writing, Litecoin was down by 0.62% to $59.54. A choppy start to the day saw Litecoin rally to an early morning high $62.71 before hitting reverse. Falling short of the first major resistance level at $63.32, Litecoin fell to a morning low $58.41. Litecoin left the major support levels untested early on. For the day ahead, Litecoin would need to move through to $59.60 levels to support a return to $60 levels. Litecoin would need the support of the broader market, however, to take a run at the first major resistance level at $63.32. Failure to move through to $59.60 levels could see Litecoin fall deeper into the red. A fall back through to $58 levels would bring the first major support level at $56.13 into play before any recovery. Barring an extended sell-off through the day, Litecoin should steer clear of sub-$56 levels. [fx-image src=https://www.tradingview.com/x/PgO9TuEz/ originalWidth=761 ratio=1.3 data-zoom-target=https://www.tradingview.com/x/PgO9TuEz/] Ripples XRP Recovers to $0.30 Levels Ripples XRP rose by 1.59% on Sunday. Reversing a 1.48% decline from Saturday, Ripples XRP ended the week up 1.42% at $0.2997. A choppy start to the day saw Ripples XRP fall to an early intraday low $0.291 before striking an early morning intraday high $0.30344. In spite of the early moves, Ripples XRP left the major support and resistance levels untested. A pullback to $0.2920 levels by late morning was short-lived, with Ripples XRP finding support from the broader market. Upward momentum through the 2 nd half of the day delivered the upside for the day and for the week. At the time of writing, Ripples XRP was up by 0.5% to $0.30119. A mixed start to the day saw Ripples XRP rise from an early morning low $0.29790 to a high $0.30648 before easing back. Steering clear of the major support levels, Ripples XRP broke through the first major resistance level at $0.3051. For the day ahead, a move back through the first major resistance level at $0.3051 would support a run at $0.31 levels. Ripples XRP would need support from the broader market, however, to break out from the morning high $0.30648. Barring an extended rally through the day, however, the first major resistance level would likely limit any upside. Failure to move back through the first major resistance level could see Ripples XRP hit reverse. A fall back through to sub-$0.2980 levels would bring the first major support level at $0.2927 into play. Barring a crypto meltdown, however, Ripples XRP should steer clear of sub-$0.29 support levels on the day. [fx-image src=https://www.tradingview.com/x/yuqbwfI5/ originalWidth=761 ratio=1.3 data-zoom-target=https://www.tradingview.com/x/yuqbwfI5/] Please let us know what you think in the comments below Thanks, Bob This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Fundamental Weekly Forecast Trade Deal Announcement Could Spike Prices Higher E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis Has to Hold 8035.75 to Sustain Upside Momentum Will Central Banks Prevent Recession and Push Gold Down? European Equities: Geopolitics and Corporate Earnings in Focus Price of Gold Fundamental Weekly Forecast Announcement of Partial Trade Deal Could Weigh on Prices Ethereum and Stellars Lumen Daily Tech Analysis 28/10/19 || [SPONSORED] High capacity, low latency, institutional matching venue LMAX Digital completes 15 million trades since launch, with over $50 billion traded: Using proven, proprietary, LMAX Exchange FX trading technology with $50 billion traded to date, LMAX Digital continues its solid growth trajectory and its crucial role of bringing the major crypto currencies into wider institutional circulation and acceptance, supporting the normalization of value. LMAX Digital delivers complete transparency, open access and a level playing field for all institutional Crypto currency market participants - within a secure and trusted trading environment : Spot instruments: BTC, ETH, LTC, BCH, XRP Access: LMAX FIX 4.2 /4.4, API, ITCH, web GUI & mobile Connectivity: cross connect at a LD4 or over internet Trading hours: 24 hours, 7 days/week (except 17:00 - 17:05 daily EST/EDT) Min. trade size: 0.01 coins (BTC, ETH, BCH, LTC); 1 coin (XRP) For funds, banks, proprietary trading firms, brokerages and asset managers, LMAX Digital is the secure, liquid and trusted way to trade crypto currencies. Learn more . Regulated by the Gibraltar Financial Services Commission. || SEC Restarts Clock on Proposed ‘Bitcoin and T-Bills’ ETF: The U.S. Securities and Exchange Commission (SEC) is again soliciting comments on a proposed exchange-traded fund (ETF) based around bitcoin and Treasury bonds.
According toa public filing published Tuesday, investment management firm Wilshire Phoenix and NYSE Arca filed an amendment to their ETF proposal earlier this month to address issuance and redemption for the securities and the listing/trading of the fund’s shares.
Coinbase Custody will act as the custodian for the bitcoin held by the trust, according to the filing. Tuesday’s notice says Coinbase will provide attestations confirming the amount of bitcoin it holds within five business days of the trust’s monthly rebalancing, adding a detail not present in the original filing.
Related:SEC Draws on Investor Communications to Halt Telegram Token Launch
The amended rule change proposal also notes that CME and Intercontinental Exchange (ICE) provide bitcoin futures products in the U.S., rather than CME and Cboe. The latter company wound down its futures product earlier this year.
Later on, the filing seemingly addresses the SEC’s concerns with potential market manipulation in the cryptocurrency space.
“The Sponsor notes that, in connection with the Commission’s analysis of whether a market is inherently resistant to manipulation, the Commission has in certain circumstances focused not on the market as a whole but instead on the significant subset of the market that has a meaningful impact on the particular ETP [exchange-traded product],” the filing says, adding:
“For instance, orders approving listing applications of ETPs that invest in gold bullion focused on the spot and futures market, even though gold is traded on a number of different market segments. Focusing on the spot market is appropriate because the spot market is the market to which the particular ETP would look to determine its [net asset value].”
Related:tZERO-Backed Startup Seeks SEC Approval to Launch Security Token Market
The amendment filed on Oct. 4 “replaces … and supersedes” the original filing “in its entirety,” Tuesday’s notice said.
The SECfirst kicked off the comment periodfor Wilshire Phoenix’s proposal in June, beforeannouncing in late Septemberthat it was evaluating the proposal.
According to the filing, members of the public must submit comments within 21 days of the notice’s publication in the Federal Register. The SEC has 45 days after the filing’s publication in the Register to make an initial decision, but can extend that timeframe if it chooses to do so.
Tuesday’s filing follows the SEC’sdecision to reject a bitcoin ETF proposalfiled by Bitwise Asset Management, also working with NYSE Arca. The regulator cited concerns about market manipulation and a lack of surveillance-sharing agreements as an issue in its rejection.
SEC logo image via CoinDesk archives
• SEC, CFTC, FinCEN Warn Crypto Industry to Follow US Banking Laws
• SEC Rejects Bitwise’s Latest Bitcoin ETF Proposal
[Random Sample of Social Media Buzz (last 60 days)]
@FariaLimaElevat Imagina se ele tivesse comprado 1000 usd de Bitcoin em 2011? || Do you agree? Can you believe in wealth enough to the point it comes true?
Official Website: https://t.co/EWgWh6boc5
#ExpertOption #Trade #Forex #USD #EUR #Gold #Oil #Crypto #BTC https://t.co/3dLaWfc6JE || Bitcoin Price Predicted to Move Up in $10,000 Region by Prominent Crypto Trader - https://t.co/Jqclziiv3d via BTCnews for iOS https://t.co/tD9tfdBNRh || @dropbitapp Bitcoin melts faces like cheese on summer pavement. || dash/btc: 0.00771
dash/usd: 71.55
btc/usd: 9262.97 || @CryptoandKushUK LeakeMaggie you just received 140 sats from @CryptoandKushUK. Claim them within 7 days by linking Twitter to your Bitcoin wallet at https://t.co/GBTZ00D2t5 🙏 || Falcon Coin Cryptocurrency Landing Page: https://t.co/6XLj6mnWI1
#webdesign #webdeveloper #webdesignagency #webdesigner #webbelliscup #cryptocurrency #bitcoin #ui #ux #app #webdesignservice #LookingForWebDesigner #love #clean https://t.co/HZJSx80vfF || Revealed -
@PayPal CEO Owns #Bitcoin. https://t.co/5kG8bU2hVZ || Posting the latest block of transactions allows Validators to “mine” a Block Reward - currently 12.5 bitcoin (or ~$40,000 at the time of writing). || 米司法省、偽の証券を仮想通貨で販売したスウェーデン人を米国に送還 詐欺罪で裁判に【ニュース】 https://t.co/oCkLjN0qQY https://t.co/wXFBwJIMGh
|
Trend: up || Prices: 7124.67, 7152.30, 6932.48, 6640.52, 7276.80, 7202.84, 7218.82, 7191.16, 7511.59, 7355.63
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-07-08]
BTC Price: 666.52, BTC RSI: 52.29
Gold Price: 1356.60, Gold RSI: 70.31
Oil Price: 45.41, Oil RSI: 42.29
[Random Sample of News (last 60 days)]
Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. Story continues At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) || 7 Questions and Answers About the Economy: Investors are hit with new headlines every day: a weak jobs report, rising gasoline prices , unconventional election politics. It can be tough to make sense of the barrage of constantly changing news and events. Here is a look at seven key questions investors need to consider now. Are dialed-down forecasts for the U.S. economy a concern? Slower economic growth is, of course, a worry. "Actually, it's the whole ball game," says Guy LeBas, chief fixed income strategist at Janney Montgomery Scott in Philadelphia. "The real story, however, is much longer term than 2016. With population growth running about one third the rate it was in the 1980s and 1990s, and productivity gains still slowing, it's likely economic growth will only average 1.6 to 1.8 percent, even in relatively good times. In this context, 2016 is actually one of those 'good times,' when the economy is neither running too hot nor too cold." [See: The 10 Best REIT ETFs on the Market .] How could Federal Reserve rate hikes impact the economy this year? The surprisingly weak May employment report, which revealed only 38,000 new jobs were added last month, pushed the odds of a Fed rate increase at this week's meeting to less than 4 percent, according to Fed funds futures markets. Analysts are now pointing to the July Fed meeting as the next potential window for an interest rate increase. "If the jobs report proves to be an outlier, and we have a decent return next month, we are more likely to see a rate hike in July. We put that at about a 50-50 chance right now," says Hank Smith, chief investment officer at Haverford Trust. Even if the Fed hikes rates once or twice this year, it won't affect lending or economic activity, and won't be that big of a deal, Smith says. "The lower-for-longer environment will continue along with sub-average growth and a low probability of recession," he says. "Those themes remain in place with or without any rate hikes." What are the positive factors for the U.S. economy in the second half? There are bright spots. Consumer spending continues to grow and housing also continues to improve, says Brad McMillan, chief investment officer for Commonwealth Financial Network. "Strong underlying trends should support continued growth in both of these areas, with wages and household formation doing well. With consumers starting to spend, despite the poor recent job trends, the possibility of an acceleration in growth is real." Story continues Another shift from last year is the weaker U.S. dollar, which can offer a positive economic boost. "The weaker dollar should be a tailwind for exports and manufacturing after it was a big headwind from 2014 through early 2016," says John Canally, vice president at LPL Financial. What could the presidential election mean for the stock market? A market can deal with good news and bad news because it can price certainty, says John Conlon, chief equity strategist at People's United Wealth Management. "It does not like uncertainty. "This election is generating more uncertainty than any other in my lifetime because the range of candidate policies is wider than it has even been," McMillan says. "Rather than a typical center-left, center-right pair of candidates, you have one candidate being pulled to the left and another committed to policies outside the normal range. Business is reacting rationally by holding off decisions until more certainty is available -- a trend which is unlikely to subside until the election, and maybe not then." Heading into the July party conventions rhetoric remains high, "which makes it too early to truly have an understanding of each candidate's impact on the economy or sectors. This could all change on a dime, though, if the election results in a unified Congress and president," Smith says. [See: 9 Ways to Harness the Growth of Latin America .] Control of Congress will be important, Canally says. "The market has lately favored divided government, and if Mrs. Clinton wins, the Democrats are likely to retake the Senate, but unless it is a landslide win for Clinton, the GOP should hold the House, maintaining a divided government." What risks does the economy face in the second half? Risks for the economy are always present and can be either known risks or those that are unforeseen, says Bill Northey, a chief investment officer with The Private Client Group of U.S. Bank based in Helena, Montana. Northey lists the top known risk as capital market dislocation following a potential U.K. vote scheduled for next week that could have it exiting the European Union. Other risks include the loss of business and/or consumer confidence due to an acrimonious election cycle, which results in spending and investment paralysis, as well as a policy error by the Federal Reserve, he says. Where do analysts see the Standard & Poor's 500 index at the end of the year? Brace for choppy, back-and-forth action in the stock market. The Private Client Group of U.S. Bank pegs the year-end price target for the S&P 500 near current levels at 2,100. "Election cycle dynamics introduce a degree of uncertainty for the markets that will likely generate more volatility and keep a lid on near-term performance. We expect the stocks to trade in a sideways range until after the election, which will remove uncertainty," Northey says. "Additionally, the focus will shift to 2017 earnings where the resumption of earnings growth can provide some buoyancy to the equity market," he says What are the best money moves for investors? This is a year in which the markets may grind to a moderate single-digit returns, Smith says. "We aren't looking for huge returns on equities so investors should position themselves defensively," he says. "We like names that are blue-chip companies with better-than-bond dividends. You can still find plenty of names that have dividends that beat the 10-year yield." Stay focused on your long-term objectives and use the current environment as a check for your appetite for risk, Conlon says. He agrees that investor expectations should be adjusted down to single-digit returns due to slow economic growth and an average market valuation that is not cheap. [Read: Bitcoin's Novelty is Spent .] Conlon likes the energy and industrial sectors right now. "The energy sector due to the recovery in oil prices and the approaching crossing of supply with demand. Industrials due to low valuations, high cash flow, and attractive dividend yields," he says. More From US News & World Report The 9 Best Investors of All Time 8 Easy Ways to Make Money 11 Stocks That Donald Trump Loves || Looking For Safe Havens? Buy Gold! Buy Treasuries! Buy...Bitcoin?: The usual safe-haven trades are the only silver linings in an ugly Friday trading session. The iShares Barclays 20+ Yr Treas.Bond (ETF) (NASDAQ: TLT ) is up 2.7 percent and the SPDR Gold Trust (ETF) (NYSE: GLD ) is up 4.6 percent. However, another investment alternative may be emerging as the safe haven of the future. The cryptocurrency bitcoin has also surged above $650 on Friday as investors pour money in. It’s strange to think of a currency known for such extreme volatility as a safe haven, but with the pound and other European currencies taking a Brexit pounding, bitcoin buyers are probably more concerned with long-term value preservation than short-term price swings. “I don’t think it is a traditional safe-haven trade but a strategy to avoid official manipulation,” Swissquote Bank analyst Peter Rosenstreich explained. Bitcoin offers investors a unique new alternative to all traditional investment classes. Therefore, bad news for global financial markets may start to consistently be good news for bitcoin. Related Link: Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Bitcoin investors endured some volatile trading earlier this week when rival cryptocurrency Ethereum suffered a major hack that resulted in $50 million in stolen currency. While bitcoin likely has a way to go before its price action is stable enough for the cryptocurrency to be considered “digital gold,” bitcoin already seems to be establishing a reputation among traders as a viable option during times of market uncertainty. Disclosure: The author holds no position in the stocks mentioned. See more from Benzinga What Analysts Think Central Banks Will Do Following Brexit What Goldman Sachs Thinks Of The Brexit This Treasury Bond ETF Is On Verge Of Bearish Chart Formation © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || BioViva Partners With Waves Blockchain Tokens Platform: Waves Platform is coming to the internet and is aiming to be a decentralized kickstarter, enabling asset-asset trading and supporting national currencies and crypto currencies like Bitcoin, Ethereum on the Waves blockchain at the same time MOSCOW, RUSSIA / ACCESSWIRE / June 28, 2016 / On June 20th a press conference was organised in Moscow by Alex Fork, a member of the board for Blockchain.community, the founder of Future Fintech, and a representative of the Deep Knowledge Life Sciences investment fund. Present were Elizabeth Parrish, CEO of BioViva; Avi Roy, representative of the Global Healthspan Policy Institute, Junior Partner of Deep Knowledge Life Sciences and President of Biogerontology Research Foundation (Oxford); and Sasha Ivanov, founder of the Waves blockchain platform. Elizabeth Parrish is the first human to have successfully undergone gene therapy to slow the ageing process and extend the period of healthy longevity - which, BioViva's biological markers indicate, has led to the rejuvenation of white blood cells by roughly 20 years. Being at the same time a humanitarian, an entrepreneur and an innovator, as well as a leading name in the field of genetic research, Elizabeth has opened the door on an era of self-experimentation and developed a new business model for medical procedures. Avi Roy is one of the founders of the Global Healthspan Policy Institute in Europe, which encompasses the world's leading universities and government agencies, as well as biotech and pharmaceutical companies. Avi is also the founding partner of the Personalized and Precision Preventive Medicine Clinic (P3 Clinic), which aims to bring together cutting edge diagnostics, prognostics and therapeutics to prevent the diseases of ageing. These companies together aim to extend healthy lifespans to 100 years or more. BioViva has set out ambitious plans to make healthy longevity available to everyone. Alex Fork invited Sasha Ivanov, founder of the blockchain project Waves platform , to promote a more dynamic development for BioViva's project in Russia and around the world. To these ends, a decision to issue shares on the basis of Waves' blockchain technology was made. Elizabeth Parrish has found support for her plans in Russia in the name of Blockchain.community and the Waves platform - a joint enterprise that will help accelerate the achievement of the set goals using advanced financial technologies. Sasha Ivanov founded the Waves project at the beginning of 2016 and has crowdfunded in excess of $16 million for the development of the project. The Waves blockchain platform allows the creation of digital stocks with minimum expenditure, quickly and efficiently, whilst taking into consideration current legislation. Such financial instruments expand the possibilities for investment into healthy longevity technologies, making them accessible to everybody and erasing the boundaries between countries and continents. For the first time ever, a biotechnology company will issue shares on the blockchain. Story continues For more information, please visit https://wavesplatform.com/ Contact Info: Name: Sasha Ivanov Email: rideon@wavesplatform.com Organization: Waves Platform Phone: +79253658312 SOURCE: Waves Platform View comments || Clinton, Trump Weigh In On The Brexit: With one major source of market uncertainty ending up a worst-case scenario for global investors on Friday, the markets are now looking to the U.S. presidential election as the next major unknown. Now that the Brexit vote is official, both Donald Trump and Hillary Clinton have weighed in on the decision. “This time of uncertainty only underscores the need for calm, steady, experienced leadership in the White House to protect Americans’ pocketbooks and livelihoods, to support our friends and allies, to stand up to our adversaries, and to defend our interest,” Clinton said in a statement . Clinton had spoken out in opposition to a Brexit vote in recent weeks. Related Link: Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank Trump, on the other hand, had been in favor of a Brexit and praised the decision to leave the EU. “They’re angry over borders. They’re angry over people coming into the country and taking over. Nobody even knows who they are,” Trump said in a news conference on Friday. “They’re angry about many, many things. They took back control of their country. It’s a great thing.” The populist spirit underlying the Brexit campaign in the U.K. is the same type of enthusiasm that Trump is trying to drum up in American voters in November. See more from Benzinga What Analysts Think Central Banks Will Do Following Brexit The Fed Is 'Carefully Monitoring' Global Markets What Goldman Sachs Thinks Of The Brexit © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Coinbase gets $10.5 million investment from Bank of Tokyo, two others: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it received a $10.5 million investment from Bank of Tokyo Mitsubishi UFJ (BTMU), the bank's Mitsubishi UFJ Capital unit and Sozo Ventures as part of a strategic partnership involving its long-term expansion.
Coinbase, which is the world's largest bitcoin company and currently operates in 32 countries, does not operate in Japan just yet, though it runs an exchange in Singapore. The company said Japan is a big part of its international expansion.
"BTMU will be a strong partner for us both in Asia and globally," Sam Rosenblum, international expansion and banking lead at Coinbase, said in a phone interview with Reuters. "Japan will certainly be an important market for us and one that is pretty critical for the development of digital currencies."
Bitcoin is a digital currency that enables users to move money across the world quickly and anonymously without the need for third-party verification.
Rosenblum said San Francisco-based Coinbase has been working with BTMU for about a year on various projects and those collaborations have culminated in a strategic investment.
Sozo Ventures, which has dual headquarters in Silicon Valley and Tokyo, early on has been instrumental in bringing Twitter to Japan.
In order for Coinbase to do business in Japan, it would need regulatory approval from the country's Financial Services Agency.
Rosenblum said there is no timetable as to when Coinbase would launch operations in Japan.
Coinbase last year raised $75 million from a slew of investors. The BTMU investment is an individual transaction and not part of any funding round, Rosenblum said.
Coinbase currently has two trading platforms, one for retail investors and one for institutions. Over the last four weeks, trading volume for the two platforms totaled around $400 million, according to Adam White, Coinbase's vice president for business development.
Since bitcoin's inception in 2009, it has grown in popularity and price. Late on Thursday, bitcoin traded at $621.74 on the Bitstamp platform. So far this year, the digital currency is up 44.2 percent.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Leslie Adler) || Former U.S. Secret Service agent suspected in additional Bitcoin thefts: By Joseph Menn SAN FRANCISCO, June 30 (Reuters) - A Secret Service agent who stole money seized by the government in the investigation of underground drug bazaar Silk Road is now suspected of stealing money in at least two other cases, according to court filings unsealed on Thursday. In the larger of those cases, he is thought to have been behind the theft of about $700,000 worth of Bitcoin from a Secret Service account three months after the agency was urged to block his access, the documents say. Former agent Shaun Bridges pleaded guilty last year and was sentenced in December to nearly six years in prison for stealing more than $800,000 of the crypto currency Bitcoin during the Silk Road investigation. According to an affidavit unsealed Thursday, the Justice Department learned in April 2015 that Bridges might have kept a private cryptographic key giving him access to a Bitcoin wallet with the $700,000 in currency that the Silk Road task force had seized in 2014. The department urged the agency to move the funds elsewhere. "Unfortunately, the U.S. Secret Service did not do so and the funds were thereafter stolen, something the U.S, Secret Service only discovered once it was ordered by a court to pay a portion of the seizure back to affected claimants," a team of prosecutors wrote in an accompanying motion. The Bitcoin in question was moved in July 2015 but only discovered missing in December, the affidavit said. The Secret Service and Bridges' attorney Steven Levin declined to comment. In the previous case, Bridges admitted he stole money from Silk Road accounts and framed someone else for it, leading Silk Road chief Ross Ulbricht to plan a murder. Ulbricht is now serving a life sentence. (Reporting by Joseph Menn; Editing by Cynthia Osterman) || This founder launched a $14,000 smartphone immediately after laying off employees at his other startup: moshe hogeg mirage (Mirage) Moshe Hogeg and team. People in Israel's tight-knit startup community are talking about the reported death, and the odd life, of the once high-flying startup Mobli. Mobli raised $86 million in venture funds in six years, including from some big names. But the company made cuts this week in layoffs first reported by the Israeli business newspaper Calcalist and confirmed by Business Insider. Mobli's CEO, Moshe Hogeg, told us that the company had cut 15 employees this week and was closing its Israeli research-and-development center. Sources are telling us that this represents all of Mobli's remaining Israeli employees, though Hogeg insists that the company is not being closed down entirely. He says he is retaining an R&D team in Europe. Mobli employed about 50 people at its height, but sources tell us only a handful remain. In Israel, the shock isn't so much that Mobli is struggling — it's that people don't understand how the company has stayed alive as long as it has. It jumped from one failed product to the next. How is this company still alive? Mobli sprang to life in 2010 as a photo-sharing social-media site backed by high-profile angel investors including Lance Armstrong, Serena Williams, and Tobey Maguire. It later landed $60 million from Mexican billionaire Carlos Slim, it said, for a total of $86 million raised. Lance Armstrong, yellow jerseys (Mobli.com) Lance Armstrong. Perhaps the highest-profile photo shared using Mobli was Armstrong's notorious photo of himself with his Tour de France jerseys after he was barred for life by the International Cycling Union for doping . But then Instagram came along and Facebook bought it, and that pretty much killed Mobli as a photo-sharing social network. The company pivoted to other apps. In 2015 it launched an app called EyeIn, a photo service for publishers that let them find pictures of events shared on social-media sites. It shut EyeIn down just two months after it was launched when Instagram blocked the app from using Instagram photos. Story continues "We had to shut down EyeIn two months after launch because Facebook/Instagram blocked us from their API, rendering our technology useless," Hogeg confirmed to us. See ya later, Slant? Mobli then moved on to Slant, a news site based in New York for freelance articles. Writers got professional editing, and Slant took a 30% cut of any advertising revenue their articles generated. Slant hit 4 million readers in a month and published 9,000 stories from 1,400 writers, but its editor, Amanda Gutterman, announced in her farewell letter in April that Slant was being shut down, as reported by Politico . Mobli Galaxia (www.galaxia.co) Mobli's Galaxia. A former employee told us that much of this traffic was generated through paid-ad campaigns by services like Outbrain . Slant later told Politico that it was not closed for good but would be back once the company figured out a new business model. Gutterman has moved on to a new job at The Dose, however, and the site is not functioning. Mobli now has a new project, a social-network app called Galaxia that launched in March, in which people are encouraged to take on different "personas." Mobli says Galaxia's tech came from a startup it acquired called Pheed. The rumor was that it paid $40 million in cash for Pheed, but Hogeg tells us that the true price was really "just a few million." The people we talked to have marveled that Mobli says it is still in business and can't understand how. Hogeg says Mobli has been clear where its money has come from: venture investors. "We've always been very transparent about our funding," he says. "Amongst are investors: Carlos Slim, Leo DiCaprio, and Kenges Rakishev and all that info is readily available. We raised sufficient funds to allow us to stay in business thus far." Mobli was also known for being one of the first startups to use Nasdaq's private market , allowing early employees to cash out their shares in the company by selling them to other private investors. (Sirin Labs) Sirin Labs' $14,000 phone. A $14,000 phone In the meantime, Moshe Hogeg is focused on a new company, Sirin Labs , where he is president, investor, and cofounder but not CEO. The CEO is Tal Cohen. Right after employees were let go at Mobli, Sirin launched its product on Tuesday in London: a smartphone for about $14,000, or 9,500 pounds. The phone is aimed at wealthy people who want a fast and stylish phone that also encrypts all their data. Sirin says it raised $72 million in funding and has 85 employees based in Switzerland, Sweden, England, and Israel. NOW WATCH: This smartphone works by bending it More From Business Insider This 24-year old raised $6 million in Bitcoin in a month to build a new kind of app store How a 16-year-old kid built his dream video game company with no money Doubts about Domo? Insiders say the $2 billion startup that came out of nowhere is full of hype || Bitcoin 'miners' face fight for survival as new supply halves: By Jemima Kelly KEFLAVIK, Iceland (Reuters) - Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins. In the world of the web-based digital currency, it is not central banks that add new money to the system, but rather computers like Streng's which are awarded fresh bitcoins in return for processing blocks of the latest bitcoin transactions. Bitcoin can be used to send money instantly around the world, using individual bitcoin addresses, free of charge with no need for third party checks, and is accepted by several major online retailers. The work Streng's computers and others do serves two purposes: they record and verify the roughly 225,000 daily bitcoin transactions and - because they earn new bitcoins for the work they do - steadily increase the currency in circulation, currently worth around $10 billion. The process has come to be known as "mining" because it is slow and intensive, reaping a gradual reward in the same way that minerals such as gold are mined from the ground. But on Saturday, the reward for miners will be slashed in half. Written into bitcoin's code when it was invented in 2008 was a rule dictating that the prize would be halved every four years, in a step designed to keep a lid on bitcoin inflation. From around 1700 GMT on Saturday, instead of 25 bitcoins up for grabs globally every 10 minutes, worth around $16,000 at the current rate (BTC=BTSP), there will be just 12.5. That means only the mining companies with the leanest operations will survive the ensuing profit hit. "The most important thing is to be the most efficient miner," said Streng, the 26-year-old co-founder of German firm Genesis Mining, which has "mining farms" in Canada, the United States and eastern Europe, as well as in Iceland. "When the others drop out, that means that they leave the market and give you a bigger share of the pie." Story continues SOLVING PUZZLES The currency was founded eight years ago by a person or group using the name Satoshi Nakamoto, whose real identity has not been established. It was set up to operate independently of any single authority, instead relying on a decentralized global network. Because the bitcoin miners operate autonomously, it is hard to track their numbers and size. But in terms of computing capacity it was estimated earlier this year that the network is 43,000 times more powerful than the world's top 500 supercomputers combined. Computers like Streng's solve complex, automatically generated mathematical puzzles to help secure each block of transactions and keep the bitcoin network safe from hacking or manipulation. For bitcoin users, that security is one of the currency's main attractions. After the first miner secures a block of transactions, its work is verified by the other miners in the network, and that block is added to the "blockchain" - a shared record of all the transaction data - which is virtually impossible to tamper with. The mining, therefore, keeps the whole system going. Bitcoin is now accepted by major organizations including U.S. online retailer Overstock.com and travel company Expedia. The speed and anonymity of bitcoin transactions, and lack of a central authority overseeing the currency, has drawn in many users, including those who want to get around capital controls. It has also attracted investors who see it as a potentially lucrative commodity in itself. KEEPING COOL Bitcoin mining started out as a hobby for tech geeks using their home computers in the early years of the virtual currency, but has become more specialized as bitcoin usage expands. As the bitcoin price has risen, as transaction numbers have grown and as the computers have become so specialized that they can only perform the function of bitcoin mining, a whole industry has emerged. It can be profitable if firms are able to keep their expenses low. But the costs of running these machines, which cost around $1,800 each, and keeping them cool are fiendishly high. Streng reckons that, on average, it costs about $200 in electricity, including cooling power, to mine one bitcoin. Equipment, rent, wages and business running costs are on top. On Saturday, all else being equal, the halving of the reward will double that cost, to $400, leaving a small margin for profit at the current exchange rate of around $640 per bitcoin. In the same remote region of Iceland as the Genesis mining farm, on a former Cold War U.S. military base lies a bitcoin mining facility belonging to U.S. firm Bitfury. A nearby sub-station means electricity transmission costs are minimal. In the farm's two vast buildings, tens of thousands of mining machines whir away, producing a huge amount of heat, so the buildings are open to the cold Icelandic air at either side, save for particle filters to trap dust. Fans in the ceiling allow hot air to escape, but spin so fast that no rain or snow can enter during the winter. The noise produced by computers and fans is deafening. It is no coincidence that so many mining companies have chosen to build farms in Iceland - Chinese giant Bitmain also has a huge farm there. The volcanic island's cheap, bountiful, renewable energy supply, good internet connectivity, and cool temperatures make it an ideal location. The Icelandic authorities welcome the boost to the economy that the bitcoin miners have brought -- Bitmain opened its farm after an approach by the Icelandic embassy in Beijing. Genesis's Streng says he is such a valued client that the Icelandic energy companies fly him around in helicopters. Bitfury CEO Valery Vavilov, who estimates electricity makes up between 90 and 95 percent of bitcoin mining costs, says one way his firm stays competitive is by making its own hardware. He also says the company, founded in 2011, is prepared for the mining reward cut. "We're prepared - we already went through one halving event in 2012," he said. "You can forecast this...so you have time to prepare, and if you're prepared you can live quite easily." Vavilov, and other miners, say the prospect of new supply halving has already helped drive bitcoin up over 50 percent this year, which should help ease the pain. COMPETITION FROM CHINA Despite the fact that the halving was expected, and that the price has risen, it has already claimed one casualty: Sweden's KnCMiner filed for bankruptcy at the end of May, citing the hit to its profits that the reward cut would bring. Daniel Masters, who runs a Jersey-based bitcoin hedge fund and who bought a part of KnC's business, said the Swedish firm, like everybody else, had faced competition from miners in China, which are estimated to make up more than two-thirds of the bitcoin network's computing power, or "hashpower". "It turned out that the Chinese, who really stormed into the mining market in the last couple of years, could just do this whole thing cheaper," Masters said. Some Chinese miners get hydroelectric power from disused dams, while others use cheap coal-powered electricity. Bitfury and Genesis, though, say their lean operations allow them to fight off the competition. Genesis, for example, keeps cost down by remotely monitoring conditions in its mining farms and adjusting its fans and cooling accordingly. And the next time the mining reward is halved, in 2020, they hope the number of bitcoin transactions will have grown sufficiently to mean that the small fees paid by users will make up enough of their income to smooth out the profit cut. "By 2020 we will definitely have had the tipping point," said Bitfury's Vavilov. (Reporting by Jemima Kelly; Editing by Dominic Evans) || Bitcoin plunges nearly 25% in 6 days: Here’s 3 reasons why: The price of bitcoin(: BTC=)has plunged almost 25 percent since hitting a two-and-a-half year high last week amid problems at a key exchange and diminishing fears of a Brexit.
Bitcoin was trading around $590.53 by midday London time, a fall of around 23.8 percent from the $774.94 close on June 17, which marked the highest close since November 22, 2013.
The initial rise in the price of the cryptocurrency came last week as traders prepared for aprocess known as "halving"– where the rewards offered to bitcoin miners fall, thus tightening the supply of the digital currency. With anticipation of less supply, prices spiked.
But sentiment was dampened when earlier this week, Hong Kong-based bitcoin exchange Bitfinex was closed for a few hours because of "networking issues" in the company's data center, it said on Twitter. The issues were fixed on the same day.
Bitcoin insiders said that because of the high leverage people trade the digital currency with, small issues in the market can cause big moves.
"The bitcoin price when it goes up is always fuelled by a high leverage, people using margin borrowing money to buy up the price anticipating the block rewarded halving, so the smallest hairline crack can cause a selloff," Bobby Lee, chief executive of BTCC, one of the largest bitcoin exchanges in the world based in China, told CNBC by phone on Thursday.
"Bitfinex's website went down and that was a catalyst for people pulling back, cutting positions, locking in gains. There is waterfall effect where then people are selling, selling, selling."
At the same time, bitcoin has received some safe-haven bids in recent weeks thanks to uncertainty about which way Britons would vote in the country's referendum on its membership of the European Union (EU), which began on Thursday morning.
But opinion polls leading up to the referendum showed a slight bias towards the remain camp winning, helping push financial markets and the sterling higher, but causing a fall in the price of bitcoin.
"I do think it's primarily macro things such as Brexit, you saw the price run up as you saw the opinion polls show leave was winning and as those polls reversed over the weekend, that's when we saw the price reverse" Tom Robinson, co-founder of blockchain start-up Elliptic, told CNBC by phone.
Conversely, the threat of a Brexit had an adverse effect on the Chinese yuan, which hit a five-year low last week, was also a reason cited by experts, given China accounts for the large amount of bitcoin trading.
"Brexit could be a major factor, but, since the lion's share of bitcoin trading activity occurs in and around China, it's unlikely that this is the primary cause. Although if you look at the bitcoin price among exchanges based in China they are $10-20 lower than the global exchanges, this might reflect the yuan's 5-year low and the expected yuan volatility as a result of Brexit," Aurélien Menant, CEO and co-founder, Gatecoin, a digital currency exchange, wrote in an email to CNBC.
Menant added that he expects the volatility "to settle down within the next couple of weeks".
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[Random Sample of Social Media Buzz (last 60 days)]
Need #bitcoin community's help
Any feedback is highly appreciated!
Help #FaucetGame help its users and vice versa.
https://bitcointalk.org/index.php?topic=1526935.0 … || #BTA Price: Bittrex 0.00001053 BTC YoBit 0.00000757 BTC Bleutrade 0.00001154 BTC #BTAprice 2016-07-03 00:30 pic.twitter.com/6xgKXnFLAU || 1 #bitcoin 1603.71 TL, 529.999 $, 470.745 €, GBP, 32781.00 RUR, 59519 ¥, CNH, CAD #btc || $675.50 #bitstamp;
$673.69 #bitfinex;
$660.00 #btce;
Prices & News: http://bit.ly/1VI6Yse
#bitcoin #btc || $675.55 at 16:30 UTC [24h Range: $641.25 - $742.00 Volume: 24559 BTC] || Mr.Ripple価格情報
午前11時現在
XRP 購入:0.6898
BTC 購入:50,521
LTC 購入:449.00
DOG購入:0.0359
https://mr-ripple.com || Pissed-off customers sue GAW Miners in proposed class-action suit http://bit.ly/28O5kjT pic.twitter.com/gWzyafcm3E || I just bought my first bitcoin on Coinbase - try it! https://www.coinbase.com/join/DavidRindfleisch?src=twitter … || BTCTurk 1424.9 TL BTCe 487.01 $ CampBx $ BitStamp 496.00 $ Cavirtex $ CEXIO 498.80 $ Bitcoin.de 436.79 € #Bitcoin #btc || #CannabisCoin #CANN $ 0.002661 (9.44 %) 0.00000408 BTC (5.00 %)
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Trend: up || Prices: 650.96, 649.36, 647.66, 664.55, 654.47, 658.08, 663.26, 660.77, 679.46, 673.11
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin's Price Falls Below $6K to Near 2018 Low: The price of bitcoin fell below $6,000 on Tuesday, a move that brought the world's largest cryptocurrency within 2 percent of its 2018 low. At press time, bitcoin is trading hands at $5,922 , printing a 5  percent 24-hour depreciation, according to the CoinDesk Bitcoin Price Index, up slightly from a low of $5,785 set June 24. Below $200 Billion: Crypto Market Sinks to New 2018 Low Bitcoin is not alone in the sinking ship, however, as the broader market continues to suffer. At press time, the total market capitalization of all cryptocurrencies is below $200 billion, its lowest figure yet seen in 2018. What's more, many of the other big name cryptocurrencies already set their lowest prices of the year this past week. Ether (ETH), the cryptocurrency that powers the ethereum  blockchain is trading hands at $264 - its lowest price since November 2017. Likewise, The XRP price has fallen below $0.30, its lowest price of the year and a more than 90 percent depreciation from it's all-time high over $3 set in December. Image via Shutterstock Related Stories Bitcoin Price Hits 7-Month High Against Turkish Lira Bitcoin Price Move Past $6.5K Would Boost Upside Potential Crypto Millionaire Lost 5,500 Bitcoins in Alleged Investment Scam || China Tariffs, Apple vs Facebook, Bitcoin ETFs: CEO Daily for August 23, 2018: Good morning.
Those of you who believe brick-and-mortar retail is dying should take a close look at Target’s results, out yesterday. They killed it. Biggest comparable year-over-year sales gain in 13 years–up 6.5%. And that included not only a stunning jump in digital sales–up 41%–but also a solid increase in same store sales–up 5%. The lesson,saysFortuneretail guru Phil Wahba, is that e-commerce and stores can “enhance one another, rather than eat into each other’s business.”
No doubt some of the growth reflects the overall strength of the economy, which the Fed Reserve’s minutes touted yesterday. But Target’s sales growth beat that of rivals such asWalmartand Kohl’s. I give credit to CEO Brian Cornell, whose data-driven approach to retailing appears to be paying off. The company also has been helped by the launch of a dozen new brands in the last 18 months, giving shoppers a fresh reason to come to its stores.
Speaking of bricks and mortar, ServiceChannel CEO Tom Buiocchi was by theFortuneoffices yesterday. The company, funded by Accel, has created a technology platform that helps retailers source repair and maintenance contractors in multiple locations from a single dashboard. It’s one more example of how technology is transforming even the most mundane aspects of earthbound businesses.
More news below.
China Tariffs
A new phase of the U.S.-China trade war kicked in today, with the U.S. slapping tariffs on $16 billion worth of Chinese imports and Beijing retaliating with equivalent taxes on American goods such as cars, steel products, fuel and medical equipment. As China experts note, neither side looks likely to give in, so expect further escalation.Bloomberg
Apple vs. Facebook
Apple has booted a Facebook-owned app from its iOS platform. The Onavo Protect app provides a virtual private network (VPN) that lets people protect their traffic from prying eyes—except those of Facebook, as it sends users’ traffic to the social network’s servers, reportedly giving Facebook a way to track people’s use of rival companies’ apps. Apple told Facebook the app violated its rules on the collection of data by developers. Facebook apparently agreed to take it down.Wall Street Journal
Bitcoin ETFs
The SEC has nixed more proposals for a Bitcoin exchange-traded fund (ETF) from outfits such as ProShares, GraniteShares and Direxion. The regulator previouslyturned down the Winklevoss twins’ plansfor a Bitcoin ETF. Essentially, the SEC’s issue is that the applications didn’t outline enough protections against fraud and market manipulation, and didn’t demonstrate that Bitcoin futures markets would be sufficiently large.CNBC
Saudi Aramco
Saudi Arabia has denied ditching its plans to float national oil firm Saudi Aramco, which it was reported to have done. Riyadh now says the IPO will go ahead “at a time of its own choosing, when conditions are optimum.” TheFinancial Timesreports that the Saudis are also looking at alternatives for filling up its sovereign wealth fund, which was the point of the exercise.FT
Mystery Cohen Link
Which tech company did erstwhile Trump lawyer/fixer Michael Cohen pay $50,000 in connection with the now-president’s election campaign? According to legal documents, in 2016 Cohen paid out the sum for work “solicited from a technology company during and in connection with the campaign.” Per CNBC, “the way that Cohen reported the $50,000 expense to the Trump Organization in January 2017 suggests the money may not have been paid out through traditional financial channels.”CNBC
Verizon Throttling
One of the big fears when the FCC rolled back the U.S.’s net neutrality rules was that operators would start cutting certain services’ connection speeds for commercial reasons. Now, Verizon has admitted throttling the connections of firefighters in California, as they were battling a record-breaking blaze. However, the operator has denied doing so because of the net neutrality rollback, saying instead that it was a customer service mistake. When the firefighters noticed their connection speeds were down, they complained only to have a Verizon rep tell them they needed a more expensive data plan.NBC
Germany on America
German Foreign Minister Heiko Maas yesterday raised eyebrows by proposing that Europe should stop depending on the U.S. so much, in particular, by developing a financial transaction system that’s free from U.S. control—the SWIFT payment network may be based in Belgium, but payments go through U.S. clearing houses, which is why the U.S. can block transactions between the EU and Iran. However, Chancellor Angela Merkel then said Maas hadn’t cleared his diatribe with her beforehand, and she shot down his payment network plan.Politico
Uber Grows Up
Marketing professor Tim J. Smith writes forFortunethat Uber is finally growing up under the leadership of Dara Khosrowshahi, in a variety of ways: it is respecting regulators, co-opting competitors, and ditching its “brogrammer” culture. Smith: “Along with cultural change, Khosrowshahi has also cleansed the executive ranks. The chief of human resources, chief product officer, and several others departed in the last year. Overall, of the 16 executives running Uber when Kalanick left, only seven remain at the company.”Fortune
This edition of CEO Daily was edited byDavid Meyer. Findprevious editions here, andsign up for other Fortune newsletters here. || Best Fixed-Income ETFs to Have During a Recession – Part 1: This article was originally published on ETFTrends.com. Nobody wants to hear talk of a recession, but the word is starting to creep into financial markets lexicon more often than not lately with economists warning that the bull run since the recovery from the financial crisis in 2007-08 will eventually run out of steam. Most market prognosticators cite the inversion of the Treasury yield curve as the predictive indicator for a recession--when yields on the two-year Treasuries are higher than the 10-year Treasuries. Whether this prescience proves to be true or not, it's advisable for an investor to adjust his or her investment strategy, particularly for fixed-income securities. Related: What Bond Markets are Saying About Next Recession Personal finance website Pocketsense.com cited ways to invest in bonds during a recession: Watch the direction of interest rates Review current bonds for duration--shorter durations work best Minimize exposure to high-yield corporate bonds--stick with investment-grade Diversify risk Here are some fixed-income ETFs to utilize when the economic climate signals a recession. ProShares Investment Grade—Intr Rt Hdgd ( IGHG ) IGHG tracks the performance of the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index with long positions in investment grade corporate bonds issued by both U.S. and foreign domiciled companies. This is particularly important during a recession when the propensity for a company to default on its debt is higher. As such, IGHG focuses on investment-grade issues to reduce credit risk. Xtrackers Inv Grd Bd Intst Rt Hdg ETF ( IGIH ) IGIH seeks investment results that track the performance of the Solactive Investment Grade Bond - Interest Rate Hedged Index where a portion IGIH's total assets will reside in long positions in U.S. dollar-denominated investment-grade corporate bonds. As in the case of IGHG, this strategy effectively eliminates exposure to riskier bonds with fund allocations in investment-grade issues. Story continues iShares 1-3 Year Credit Bond ETF ( CSJ ) CSJ tracks the investment results of the Bloomberg Barclays U.S. 1-3 Year Credit Bond Index where 90 percent of its assets will be allocated towards a mix of investment-grade corporate debt and sovereign, supranational, local authority, and non-U.S. agency bonds that are U.S. dollar-denominated and have a remaining maturity of greater than one year and less than or equal to three years--this shorter duration is beneficial during recessionary environments. SPDR Blmbg Barclays Inv Grd Flt Rt ETF ( FLRN ) FLRN seeks to provide investment results that mimic the performance of the Bloomberg Barclays U.S. Dollar Floating Rate Note < 5 Years Index. At least 80 percent of assets will go towards securities that include U.S. dollar-denominated, investment grade floating rate notes. This floating rate component can take advantage of higher yields in a recession as well as protect the investor against credit risk with investment-grade issues and a duration of less than five years. These ETFs are just a few options fixed-income investors can allocate their capital if and when a recession hits. In Part 2, we will explore more fixed-income ETF options investors can use in a recessionary environment. Related: Paul Tudor Jones: Next Recession will be ‘Really Frightening’ For more trends in fixed income, visit the Fixed Income Channel . POPULAR ARTICLES FROM ETFTRENDS.COM Bitcoin Adoption Will Rise, Says New Study CBOE Keeps Bitcoin ETF Push Alive Shaq’s Money Advice: ‘Save it… invest it… and be smart’ Gold ETF Holdings Decline in June Few Advisors Spend Money on What Matters Most READ MORE AT ETFTRENDS.COM > || Thematic ETFs to Enhance Your Investment Portfolio: This article was originally published on ETFTrends.com. When creating a diversified investment portfolio, ETF investors should consider how thematics can help differentiate a balanced portfolio and leverage disruptors that are upending traditional equity paradigms. On the recent webcast (available On Demand for CE Credit), How Thematic Equity Can Energize a Portfolio , Jon Maier, SVP and Chief Investment Officer at Global X Funds, explained that given the goings-on in a market of tariffs, appreciating U.S. dollar and strong corporate earnings, many are taking a more inward or U.S. bias approach, which also reflects Global X's U.S. oriented approach within the Core Series portfolios. In developing a diversified investment portfolio, Maier outlined the traditional and tactical asset allocation methodologies, but he also added that security selection and exposure to structurally disruptive thematic trends may potentially augment returns over the long haul. "Over the past 10 years the markets have been more correlated across assets classes, we are looking to position a portfolio so as to take advantage of markets under certain conditions," Maier said. Maier argued that themes are relevant to the current environment. A thematic approach includes nvestments that stand to benefit from structural change driven by demographic and technological changes. For example, the consumer discretionary firms have traditionally targeted the spending preferences of baby boomers and Gen Xers, appealing to suburban lifestyles and material wants. However, Millennials are set to see their incomes rise and inherit trillions from the baby boomer generation. Their unique spending preferences, such as living in cities and favoring experiences, are expected to radically alter what types of products are sold and how they are bought. A Look at Disruptive Industries Other industry disruptors include advances in lithium battery technologies where falling costs and rising production of Lithium-ion batteries are leading the shift to renewable energy and electric vehicles. Story continues FinTech allows financial firms to leverage cutting edge technology to reduce costs, improve decision making and risk controls, remove middlemen and enhance customer experiences. Increasing lifespans and rising health care costs are driving people to proactively improve their health through physical activity, healthy eating and greater mindfulness of their well-being. Robotics and artificial intelligence are making machines smarter and more capable than ever before, allowing robots to take on increasingly sophisticated tasks for faster and more accurate production. Declining computer chip costs and improving connectivity allows for virtually any object to connect to internet-enabled networks, effectively turning anything into a connected device. Additionally, people around the world are communicating and sharing information at a rapidly growing pace via new social media channels such as mobile video, chat, photos, podcasts and blogs. Investors interested in a thematic approach to capitalize on these industry disruptors should think of thematic investing as a satellite position or an equity sleeve in a growth-oriented portfolio, Maier advised. Thematic strategies tend to be alpha-seeking, have a long time horizon and are growth oriented. The thematic investments also transcend classic sector, industry and geographic classifications as many overlap. "This section of the equity allocation has the potential to differentiate a portfolio and provide exposure to themes with long-term growth potential," Maier said. "The thematic bucket adds a growth and momentum tilt, but the allocations toward the positions are relatively small in relation to the other positions." For example, Maier highlighted some of Global X's ETFs to help investors find growth opportunities outside of a traditional sector strategy, including the Global X China Consumer ETF ( CHIQ ) , Global X Lithium & Battery Tech ETF ( LIT ) , Global X Robotics & Artificial Intelligence Thematic ETF ( BOTZ ) , Global X Internet of Things Thematic ETF ( SNSR ) and Global X FinTech Thematic ETF ( FINX ) help investors focus towards thematic growth funds, incorporating ideas of sector disruption across info tech, health care, consumer discretionary, materials, industrials, consumer staples and financials. Financial advisors who are interested in learning more about equity thematic disruptors can watch the webcast here on demand . POPULAR ARTICLES FROM ETFTRENDS.COM Apple Jumps 4 Percent After Earnings Beat T-Mobile Makes $3.5B Deal with Nokia for 5G Networks MoviePass Owner Helios & Matheson Accelerates Plans to Reduce Cash Burn Crescent Crypto CEO on Passive Management of Bitcoin Former British Prime Minister Tony Blair Talks Tariffs READ MORE AT ETFTRENDS.COM > || Op Ed: Making Friends With Time in the Cryptocurrency Space: Op Ed: Making Friends With Time in the Cryptocurrency Space What follows is an open letter from Jimmy Zhong, co-founder and CEO of IOST, to his team members and shared with Bitcoin Magazine with permission. Recently, I’ve been thinking about an ultimate way of safely storing value — gold, Bitcoin, real estate and power all came to mind. That’s when I started to realize that, in essence, the concept of a “store of value” is simply an act of consensus. Power, even, is no exception. Thousands of years ago, due to geographical and technological limitations, human beings relied on seashells as a store of value and medium of exchange. Seashells, today an unthinkable form of currency, were valuable for their rarity, but only because their value was agreed upon in a social consensus. As mankind developed, we strived for a sturdy yet relatively rare replacement. Enter gold: chemically stable, very unreactive and unlikely to form compounds — making it hard to damage or corrode, rare in supply and difficult to cast. Together, these qualities allowed for a global consensus to form, making gold a relatively secure store of value. Then, in 2008, with the continued development of cryptography, the first portable, rare and sovereign asset in the history of mankind was born: Bitcoin. As a species that is exploring Mars and hoping to one day go beyond Earth, humans need reliable digital assets. Bitcoin was a major step toward an era of comprehensive digitization capable of evading the risks of a centralized system. As Peter Thiel once said, “Bitcoin is a hedge against the whole world falling apart.” It didn’t stop there. The Ethereum network went live in July of 2015 — Vitalik Buterin’s way of showing the world that there is incredible potential for blockchain technology to reshape the world we live in. Suddenly, blockchain wasn’t just about Bitcoin. Today, applications built on blockchains are emerging, including digital signature algorithms, securitized tokens, digital rights management, crowdfunding, prediction markets, remittances, online gambling, social media platforms, financial exchanges, storage systems, distributed computation and identity systems to name a few. We have yet to see mass adoption due to a lack of basic infrastructure, and that is the most common criticism of blockchain technology. Over the last several weeks, I’ve seen a surprising number of editorials claiming that blockchain is a failed experiment. Story continues I want to reassure you that the criticisms expressed in these articles are misguided. Just like the internet, the sheer utility of blockchain technology will force adoption in the long run. To quote the Harvard Business Review, “blockchain is not a ‘disruptive technology,’ [it is] a foundational technology.” We are building the foundation to make that future possible. Competition in this market may seem fierce, with thousands of projects cluttering the space and echoing the claims of being an “Ethereum killer.” Truthfully, there are only a handful of competitive infrastructures aside from ETH and EOS. Most live projects either don’t function, run nodes on private servers, or are merely cheap copycats of ETH and EOS. As for projects that have yet to go live, many make unrealistic technological claims that are unachievable in the next 10 years. At IOST, we have one of the few teams actively working to solve the scalability trilemma, perhaps the greatest problem hampering widespread blockchain adoption, and not just trying to ride the coattails of another team’s hard work. That’s something to be proud of. Since we launched in 2018, so many new faces have joined the Internet of Services Foundation. We now have over 80 employees spread around the world in New York, San Francisco, Beijing, Seoul, Tokyo, Germany and Singapore. Every one of you is making a meaningful contribution to the rise of blockchain technology, and thanks to your incredible efforts, we will be launching the IOST Mainnet in early 2019 — six months ahead of schedule! That’s unheard of in the blockchain space, and yet another reason why I am confident that, at IOST, we are building a legacy that will change the world. We are creating the infrastructure for a decentralized economy, one that doesn’t take shortcuts or compromise on the true vision of decentralization. IOST will provide developers with a blockchain platform to develop mass-adoptable applications and contracts, which in turn will help make the world a better, fairer place. In the past eight months, we took many detours, but we also made a lot of good decisions. The experience and lessons we take away from these experiences will be invaluable for the future. Innovative pioneers catch the largest worms, but most pioneers must experience mockery, cold-shoulders and even dark moments. If every venture could be accomplished in a month or a year, then everyone would be a pioneer. As an example, during Bitcoin’s 2013 price dip, Coinbase held out and expanded — they didn’t slow down after the market crash and the following two-year bear market. They remained adamant in their belief that they had made the correct choice, confident that it was simply a matter of time before revolutionary change would occur. They wanted to ride the tide, and while many felt their belts tighten during the market downturn, that didn’t impact their decision-making process. Fast forward to today, and Coinbase has reaped enormous success from their confidence in their beliefs. I’ve met many successful investors and entrepreneurs. They all have one thing in common: Time is their friend, and they understand that given enough time the market will work to service their needs. They set their minds on a direction and work to that end. I’ve also met many bad traders and entrepreneurs. They are crushed by stress, bet against the market, constantly shift gears, and make choices that are easily swayed by the market and emotions of others. Life is a long journey. We often say that choice is more important than effort. We also need to understand that desire and choices only pull through with persistence. I hope we can have faith in our common choice, the future of technology, the power of market cycles; remain unwavering in the face of swaying market sentiment; make independent and clear-headed judgments; and, together, build something people truly want. “The people who are crazy enough to think they can change the world, are the ones who do. Dream wildly. Live differently. Love recklessly. Lead courageously.” I am grateful that you have all become part of the family in our early days and are still fighting with us in this sagging market. Let’s build a better future together. This is guest post by Jimmy Zhong, co-founder of IOST . Views expressed are his own and do not necessarily reflect those of Bitcoin Magazine or BTC Inc. This article originally appeared on Bitcoin Magazine . || Nvidia to Profit in Q3 2018 Despite Crypto Mining Decline: nvidia While crypto mining is experiencing a slowdown due to Bitcoin and other cryptocurrencies yielding lower mining profits worldwide recently, tech giant Nvidia Corp. is still expected to generate healthy revenue in Q3 of 2018. The tech company is seeing strong sales in its staple market, gaming, with graphics processing units still flying off the shelves as well as chips for data centers doing very well this year. Its difficult to say exactly how many graphics cards are being sold for gaming as opposed to mining, but recent data indicate that the cost of mining one bitcoin is actually greater than the market value in many parts of the world at the moment, with other areas seeing minor profit margins. Despite the market decline hitting miners where it hurts, Nvidia graphics unit sales are still high to cater for the international gaming community, and the prices have experienced a surge due to prior demand for cryptomining ventures. Nvidias other side business is also taking a hit as Tesla has announced that they will no longer be using Nvidia chips in their self-driving cars, something which currently generates an estimated $50 million in revenue for Nvidia. However, Nvidia CEO Jensen Huang insists that that sum is immaterial to Nvidias overall profitability the company made $3.21 billion in Q1 2018 alone, with 9% or $289 million of that from cryptocurrency mining sales. Susquehanna Financial analyst Christopher Rolland weighed in to agree with Huang, saying : While disappointing for Nvidia, we believe this represents less than $50 million of annual revenue and wont be replaced until 2019. Rolland, who has a has a neutral rating and a $250 price target on Nvidia, added that Nvidia data-center sales are expected to generate high revenue according to his Asia graphics processing units checks, along with Nvidias rise in the supercomputer field , with chips powering about 19% of the worlds top 500 supercomputers. Story continues Meanwhile Evercore analyst C.J. Muse, who has an outperform rating and a $275 price target on Nvidia, also felt that Nvidias core business model would easily carry the firm through any sales drops experienced in their cryptocurrency mining ventures, citing the rumored release of the next gen GTX11 or Turing GPU series as a product that will net the company strong profits overr the next two years. Data Center/AI remains an area of strength, particularly when considering additional benefit of a new gaming cycle favoring Nvidia, Muse said, adding: We believe concerns around a likely falloff from cryptocurrency-driven Ethereum GPU mining strength are largely exaggerated, and Nvidia will likely power through any tough compares from Cryptocurrency-driven tailwinds. Featured image from Shutterstock. The post Nvidia to Profit in Q3 2018 Despite Crypto Mining Decline appeared first on CCN . || Why Have Chipotle Mexican Grill Shares Gained 49% in 2018?: Chipotle 's (NYSE: CMG) long, dark night appears to be over. The chain struggled after a 2015 scandal when E. coli outbreaks occurred at a number of its locations. Those struggles appeared to end in 2018 when the company made a major break with its past. What happened In late November 2017, Chipotle founder and CEO Steve Ells decided to step aside and become executive chairman of the chain. The company's share price started moving steadily ahead from that moment on. When former Taco Bell CEO Brian Niccol was given the Chipotle job in mid-February, shares continued to rise. After closing 2017 at $289.03, shares pushed to $431.37 on the final trading day of June, a 49% increase, according to data provided by S&P Global Market Intelligence . People are in line at a Chipotle. Chipotle's new CEO wants more people to order digitally. Image source: Chipotle. So what Niccol made it clear from the moment of his hiring that he respected the brand and would maintain its quality, but would not be stuck in the past. In a press release, he said: At Chipotle's core is delicious food, which I will look to pair up with consistently great customer experiences. I will also focus on dialing up Chipotle's cultural relevance through innovation in menu and digital communications. This will attract customers, return the brand to growth, deliver value for shareholders and create opportunities for employees. The new CEO was not going to offer $1 tacos or partner with snack chips, but he clearly intends to innovate. That includes technical changes like improved ordering technology and adding delivery partners as well as menu innovation. Now what Niccol has laid out some good ideas and shown that he's not as slow to change as his predecessor. He still has to prove that his changes are going to work. Chipotle has posted nice sales gains (7.4% revenue growth and 2.2% comparable-store growth in the first quarter), but it will have to maintain that and maybe even increase it going forward. Menu innovation worked well at Taco Bell, but Chipotle has often failed with new items (chorizo and queso being recent examples). Story continues But Niccol isn't flying blind. He's using the company's New York test kitchen, then doing limited rollouts before launching new items. He's doing that at an accelerated pace, and he has promised that the company will have new seasonal and permanent offerings on its menu soon. It's likely that this strategy will work. Chipotle's menu had become stale in a market where rivals regularly go over the top with innovation. Niccol's company isn't going to offer wacky snack chip tie-ins, but it will be steadily offering new choices to keep consumers interested. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel B. Kline has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Chipotle Mexican Grill. The Motley Fool has a disclosure policy . || Reddit co-founder: Why I’m betting on Bitcoin despite its volatility: The last 12 months have been a whirlwind for Alexis Ohanian. The 35-year-old co-founder of Reddit, now owned by Condé Nast, announced in February he was stepping away from his day-to-day duties at the popular news aggregator and discussion site to focus on the venture capital firm, Initialized Capital. “I’ve wanted for a long time to get back to early stage founders to being the ‘first check’ in Initialized,” says Ohanian, who had a child with tennis athlete Serena Williams last September. “It’s a lot of fun, frankly. I get to come home and have really good dinner table conversations about the things I did at work, and it’s always [about] meeting new founders, learning about the future and then sometimes rolling up my sleeves.” Since he co-founded the firm in 2011 with general partner Garry Tan, Initialized Capital has financed hundreds of ventures, including Instacart and the GM-owned ( GM ) self-driving company Cruise. As an investor in Bitcoin and Coinbase investors, it’s also little surprise that Ohanian remains particularly bullish on cryptocurrencies such as bitcoin, despite their volatility. (The prices of bitcoin ( BTC ), Ethereum ( ETH ) and Ripple ( XRP ) are down almost 56%, 67%, and 85% so far this year, respectively.) “As a store of value, there is some real traction [with bitcoin], and actually as we’re seeing in countries like Turkey that are having significant economic crisis — where people are losing faith in the Turkish lira — we’re going to see money move over to bitcoin because as unstable as it is, it is actually a lot more stable for a lot of people than their own nations’ fiat currency,” predicts Ohanian. “But right now, we’re still in the earliest, earliest stages.” Ohanian and Tan are just a few of the bigger names to invest in cryptocurrency, alongside venture capitalist Tim Draper, Digital Currency Group CEO and founder Barry Silbert, and Tyler and Cameron Winklevoss, who launched the cryptocurrency exchange Gemini in 2015. Reddit and Initalized Capital co-founder Alexis Ohanian While bitcoin is slowly gaining more widespread acceptance as a currency to purchase say, jewelry , book hotel rooms off Expedia ( EXPE ) and order goods off Overstock.com, widespread usage and acceptance is decidedly a long ways off. But volatility aside, there are some more recent promising signs, too. In mid-August, Coinbase CEO Brian Armstrong said the cryptocurrency exchange enabled users to trade $150 billion in cryptocurrency in 2017 and racked up 50,000 users a day during the same period. “No matter what the currency prices are doing, seeing more and more people creating accounts … shows more and more adoption, and their end game is to be this interface between people, their fiat money and crypto — it would be the most user friendly trusted safe secure way to do it,” Ohanian added. “I just encourage people not to get too, too invested in the speculation around the day-to-day trading of the currencies.” Story continues Going cashier-free Besides crypto, Ohanian is also bullish on computer vision, an application of artificial intelligence that involves processing and analyzing digital images and videos already employed by Pinterest, Facebook ( FB ) and Amazon ( AMZN ) with its automated Amazon Go stores . One of Initialized Capital’s investments, Standard Cognition, wants to bring the same cashier-free experience Amazon Go offers to other brick-and-mortar retailers. “This is a narrower definition of artificial intelligence,” Ohanian explains. “You’re not teaching a robot to have a conversation; you’re not teaching a robot to be a human. You’re teaching a robot just to see a very specific thing, and because of the way processing power has grown and that the cost for it has declined we have companies like Standard Cognition which is doing real-time computer vision to basically reproduce Amazon and go for any other retailer. So now they can set up some basic cameras and in real time know, ‘here is this entity walking in.’ They’ve picked up this jar of peanut butter and this thing of a coffee, and they can walk out and get charged for it without having actually do a manual check-out process.” Whether such investments ultimately succeed, of course, remains to be seen, but those are the bets long-term-looking investors like Ohanian are willing to take. — JP Mangalindan is the Chief Tech Correspondent for Yahoo Finance covering the intersection of tech and business. Email story tips and musings to jpm@oath.com . Follow him on Twitter or Facebook . More from JP: Nvidia CEO: ‘Computer graphics will never be the same again’ Amazon self-published authors: Our books were banned for no reason Pandora CEO: ‘We’re in the early innings of turning things around’ Facebook woes ‘deeper than a 1-day sell-off’ View comments || Rogue Qiwi Employee Mined 500,000 Bitcoins on Company Hardware [Then Lost Them All]: bitcoin mining Qiwi , a large Russian payments company, has played a pioneering role in blockchain development in that country, largely driven by its CEO and major shareholder, Sergey Solonin. The reason for Solonin’s interest in cryptocurrency recently came to light during a lecture he gave at the Moscow School of Communications, according to Rubase . In 2011, Solonin learned that his company computers minted 500,000 bitcoins, unbeknownst to him at the time. At the time, he did not know what bitcoin was, let alone bitcoin mining . A Stealth Mining Operation Solonin’s security chief tipped him off that the company computers were being operated at night. After three months of investigating, he learned his chief technical officer minted 500,000 coins worth $5 million in three months, an amount that is now worth billions of dollars. When Solonin confronted the man and told him to explain what he was doing and make restitution to Solonin, the man quit. Solonin then put together a team and told them they needed to use all the computer terminals to mine bitcoin. He was able to restore some of the data the former employee had erased but were not able to recover the bitcoins. The Experience Made Him A Believer bitcoin cryptocurrency Solonin then became a cryptocurrency investor. He hired people experienced with computer chips and instructed them to speed up the mining process. The company now sells mining equipment. Solonin noted that he migrated to IT in the late 1990s after he began buying real estate from bankrupt companies. Insecurity reigned as businesses were being raided. He realized he did not have to continue to work in an unsafe environment and has focused on IT businesses ever since. The IT sector is also one in which one is able to explore the future, he said. Also read: Payment giant Qiwi’s execs to launch Russia’s first crypto investment bank Focus On AI And Computer ‘Blocking’ Qiwi’s operation is presently focused on artificial intelligence and “blocking,” which Solonin thinks will ultimately integrate computer systems. Story continues He envisions extensive data becoming available on the block, including medical data, which will significantly increase life expectancy. AI, meanwhile, will find correlations between what a person eats and what diseases they get more accurately than doctors. A student with six months of education in AI knows more about the tools than someone who has been doing it all his life, Solonin said. Cryptocurrencies are currently 100% effective and will remain so, he said, but as a means of saving, accumulating and exchanging value, they will not be necessary for most people. What is needed is a fast and convenient cryptocurrency. The company recently created the first crypto investment bank in the Russian market. Qiwi also became the first Russian company to join the R3 blockchain consortium of more than 60 banks and financial institutions in 2016. Images from Shutterstock The post Rogue Qiwi Employee Mined 500,000 Bitcoins on Company Hardware [Then Lost Them All] appeared first on CCN . || 10 Things to Know About Canopy Growth Corp.'s Full-Year Report: Big things are happening in the Canadian legal weed industry. With the passage of the Cannabis Act on June 19, and Prime Minister Justin Trudeausetting an official legalization date of Oct. 17, the Canadian weed industry sits less than four months away from a green rush. When adult-use marijuana becomes legal, we could be looking at the addition of $5 billion in annual sales. Rocketing from a few hundred million dollars in legal sales to perhaps more than $5 billion is a pretty easy way to get the full and undivided attention of Wall Street and investors.
Perhaps no company is champing at the bit for the proverbial waving of the green flag in October more thanCanopy Growth Corporation(NYSE: CGC). Canopy Growth is the world's largest publicly traded pot stock by market cap, and one of just a very small handful of marijuana stocks to have uplisted from the over-the-counter exchanges to a more reputable exchange in the United States. It recently became the first pot stock to list its shares on the prestigious New York Stock Exchange.
Image source: Getty Images.
However, last week all eyes were on Canopy Growth for a different reason: the release of its fourth-quarter and full-year operating results. As an industry leader, Canopy tends to set the tone for legal-cannabis companies.
Of course, investors have to understand that there's a lot more to Canopy Growth than just its top- and bottom-line results. The commentary and the announcements in its reports tend to have far more bearing. With this in mind, here are the 10 things you should know about Canopy Growth Corporation's full-year report.
Though this probably goes without saying, the company has seen a very rapid expansion of its licensed growing capacity in British Columbia. Since the year began, Canopy's licensed growing capacity, which is authorized by Health Canada, hasmore than tripled to 2.4 million square feet. The report notes that another 3.2 million square feet of expansion is underway in the province, although no specific guidance was given about total anticipated annual production once at full capacity.
Image source: Getty Images.
According to the report, Canopy has stocked up on as much dried cannabis, cannabis oil, and softgel capsules, which are targeted at medical marijuana patients, as it can prior to the Oct. 17 launch date. Inventory as of March 31 consisted of 15,726 kilograms of dried cannabis, 6,969 liters of cannabis oil, and 356 kilograms of softgel capsules. Though this supply is nowhere near enough to meet expected demand, having one of the largest diversified cannabis inventories should help Canopy Growth secure market share once legalization is official.
This may also go without saying, but investors should be aware that Canopy Growth's sales won't begin taking off until the second quarter of fiscal 2019. You may have noted by this report that it runs on a different fiscal year than most other publicly traded companies. This likely means having to wait until sometime in mid-November before we can get a feel for how well Canopy Growth fared in the post-launch environment.
Sure, most investors might fixate on the company's announced 95% year-over-year increase in sales, but I assure you that the company's multiyear supply agreements are much more impressive. The report notes that Canopy Growth has secured an annual aggregate commitment, spanning five provinces, of just over 25,000 kilograms of cannabis. We may only be talking about somewhere around 5% of the company's peak annual production, but these long-term supply agreements are lucrative and predictable generators of operating cash flow.
Image source: Getty Images.
Likewise, while dried cannabis is the most front-and-center product throughout this legalization process, it'salternative cannabis products, such as oils and extracts, that are liable to be the big margin generators for pot stocks. In the latest quarter, Canopy reported that 23% of its total sales were derived from oils, consistent with the 23% of total sales that oils comprised in the year-ago quarter. Though Wall Street would love to have seen this percentage expand, it's still pretty high relative to its peers.
The past two years have pretty much been spent expanding production capacity as quickly as the company's balance sheet would allow. Now the company is focusing on its next stage of growth: product development. Canopy's report alludes to significant investments being made in marketing and branding programs, improving business-to-business sales functions, developing retail and education programs, and expanding its product line. Specifically, the company mentions focusing on "ingestibles," or edibles, in the future, assuming they're given the OK by Canada's parliament.
As you may have rightly guessed, expanding the company's capacity at a breakneck pace, and investing in the next phase of its development, won't be cheap. Thankfully, it ended the quarter with $242.7 million in cash and cash equivalents (322.6 million Canadian dollars), which is more than triple what it had at the end of its previous fiscal year. Raising cash hasn't been an issue for Canopy Growth, and shareholders shouldn't worry about any near- or intermediate-term cash crunches.
Image source: Getty Images.
But don't think for a moment that this company is complacent while sitting on "only" $242.7 million in cash and cash equivalents. Recently, it also closed on $451.4 million (CA$600 million) in gross proceeds from the sale of convertible debentures. Per the report, the "transaction was significantly oversubscribed."
Even more intriguing is the fact that an affiliate ofConstellation Brandsacquired CA$200 million of this offering. Constellation Brandsalready owns a 9.9% equity stakein Canopy, and appears to be angling for a bigger bite.
Though I did say there's much more to this earnings report than Canopy's top and bottom lines, we also can't ignore the fact that the company's net loss ballooned in 2018 to $0.40 per share; in the previous year, it lost only $0.06 per share. The increase is primarily the result of a tripling in its annual operating expenses, with significant increases in its general and administrative costs, sales and marketing expenses, and share-based compensation. Even though legal weed is expected to be a significant long-term moneymaker for Canopy Growth, it's not out of the question that this company could lose money in fiscal 2019.
Finally, Canopy Growth also notes that it doesn't plan to continue reporting one metric, the weighted average cost per gram. Management made this decision because it believes that reporting on milligrams of tetrahydrocannabinol (THC) or cannabidiol (CBD) is more accurate than simply reporting costs based on plant weight. Additionally, management anticipates that other leading indicators will develop over time to more accurately reflect the efficiency of the cannabis production process. For investors, apples-to-apples comparisons between growers could become more difficult.
As for this investor, I'm keeping a close eye on Canopy Growth, but I'm in no way suggesting that it's a buy at these levels. With the supply-and-demand outlook still largely uncertain, I believe investors would benefit by watching closely from the safety of the sidelines.
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Sean Williamshas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
@Bitcoin_Stats || @satoshi_BTC || @Bitcoin_price_8 || @Bitcoin_Post || @satoshi_BTC || @whats_a_bitcoin || @bitcoin_reddit || @Bitcoin_Post || @whats_a_bitcoin || @eztechwin
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Trend: up || Prices: 6707.26, 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
7 of Cathie Woods Favorite Stocks to Buy Now: During the pandemic years, Cathie Woods favorite stocks became massive wealth-builders. Her tech-heavy representative ARK Innovation ETF (NYSEARCA: ARKK ) increased in value by more than 10% in a single day. However, with the current market downturn, and the risk-off attitude of investors, ARKK has shed a ton of value. Nevertheless, many of Cathie Woods favorite stocks show she has an incredible track record of picking wealth-compounding that cannot be ignored. Wood has made her career as a maverick stock picker, claiming that her success lies in the number of ideas she generates. Last year, she became more of a cult-like figure during the speculative tech boom. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Markets have pulled back substantially amidst multiple economic headwinds, but Cathie Woods favorite stocks remain as relevant as ever, considering these stocks can be picked up at historic lows. MTTR Matterport $4.61 COIN Coinbase Global $66.80 RBLX Roblox $39.11 U Unity Software $42.72 NVDA Nvidia $150.94 DKNG DraftKings $16.06 GM General Motors $38.21 Matterport ( MTTR ) Illustrative Editorial of Matterport's (MTTR) website homepage. MATTERPORT logo visible on display screen. Source: II.studio / Shutterstock.com Matterport (NASDAQ: MTTR ) is a 3D spatial mapping specialist that soared in popularity last year. Shortly after merging with a special purpose acquisition company (SPAC) last year, MTTR stock traded at an all-time high of $33. It only trades at a fraction of that price at this time. Matterport produces software that enables its users to create digital twins of real-world spaces using 3D cameras. The scans are then uploaded to a cloud-based platform for further application, including virtual reality experiences. Supply-chain issues have marred its recent results, but its subscriber base rose 52% from the prior-year period to 616,000 in the second quarter. A full 90% of their user base consists of free users, which points to an incredible opportunity for the company. Story continues After the second quarter, its CEO RJ Pittman said that the firm still had a massive order backlog to fulfill in the upcoming quarter. Therefore, theres healthy upside potential for MTTR stock ahead. Coinbase Global ( COIN ) Various cryptocurrency coins. Cryptos. Cryptocurrencies representing 3AC Crypto. Source: Wit Olszewski / Shutterstock Coinbase Global (NASDAQ: COIN ) is one of the leading cryptocurrency exchanges, with over 100 million verified users. In April last year, it became a publicly-traded business through its IPO. The company has struggled since then, but its still head and shoulders above its competition regarding the trading volume and user base. Naturally, the company has been struggling to get going in the crypto winter. Second quarter results for its business were down remarkably from the prior-year period. The exchange stated in its shareholder letter, a shift in customer and market activity, driven by macroeconomic and crypto credit factors alike . The crypto markets wont be down in the doldrums forever, and once they start picking up momentum again, so will COIN stock. Roblox (R BLX ) Metaverse stock Source: Shutterstock Metaverse gaming company Roblox (NYSE: RBLX ) turned heads during the pandemic with its spectacular subscriber and revenue growth numbers. With the behavioral shifts in the post-pandemic world, though, things have been moving south for the business. The company still is poised to succeed in the long run when the metaverse concept goes mainstream. Its numbers from July suggest that investor concerns are a bit overblown. The second quarter results were rough despite the double-digit growth in sales. On the upside, bookings (direct purchases of its in-game currency Robux) dropped 4% during the quarter. Considering it generates nearly 50% of its sales from Roblox, the decline is a major cause for concern. The platform reported 8% to 10% growth in bookings , with a 26% increase in daily active users to 58.5 million in July. With the stock down more than 60% year-to-date, its significantly more attractive at current levels. Unity Software ( U ) The Unity Software website is displayed on a laptop screen. Source: Konstantin Savusia / Shutterstock.com Unity Software (NYSE: U ) is a 3D content creation platform known as a top video game engine. Its leadership position in its niche has enabled it to grow rapidly over the past several years. Its revenues have grown by an incredible 43% on average over the past five years. Consequently, its stock has grown at a healthy pace alongside the growth in sales. Growth rates have normalized considerably of late, prompting Unity to pursue new acquisition targets aggressively. IronSource is perhaps its biggest acquisition in recent months in boosting its software and app monetizing potential. Apples iOS privacy updates have thrown off Unitys advertising business, where the ironSource deal holds immense value. As we advance, it would be interesting how the acquisition could fix Unitys advertising woes. However, its perhaps the best time to pick up Unity stock at a massive discount. Nvidia ( NVDA ) Nvidia (NVDA) logo and sign on headquarters. Blurred foreground with green trees Source: Michael Vi / Shutterstock.com Semi-conductor giant Nvidia (NASDAQ: NVDA ) had a rough second quarter where growth rates were substantially lower than market expectations and from past quarters. Inventory issues from its partners have weighed down its top and bottom-line results. Moreover, the declines in gaming and crypto revenues have also contributed to revenue growth. Nvidias long-term case remains firmly intact because of its impressive track record and incredible outlook. It has spread its tentacles in some of the most profitable verticals, including the autonomous vehicles market, edge computing, and the metaverse. The worldwide graphics processing unit (GPU) market alone is set to grow by 33.6% through 2027. Nvidia has a hefty 21% control of the market. Additionally, its data center business continues to impress despite the headwinds. It wrapped up another quarter generating over 61% growth in sales. DraftKings ( DKNG ) A man opens the DraftKings (DKNG) app from his iPhone. DraftKings is an American daily fantasy sports contest and sports betting operator. DKNG Stock Forecast Source: Tada Images / Shutterstock.com DraftKings (NASDAQ: DKNG ) is among the top online sportsbook operators in the U.S. It operates in 17 states and continues to grow each year. DKNG has been a remarkably consistent business, generating revenues over the 50% mark in recent years. Its second-quarter results showed a healthy 57% bump in sales to $466 million. Customer engagement levels were impressive, and its management raised its full-year sales guidance. Despite the troubling business conditions, it was able to grow at a healthy pace. The legal sports betting market has been growing exponentially and is likely to grow by double digits for the foreseeable future. CEO Jason Robin feels that the current market conditions have little impact on the platforms spending. Hence, with the firms robust growth rates and expansion plans, DKNG stock remains an excellent bet over the long run. General Motors ( GM ) Image of General Motors logo on corporate building with clear sky in the background. Source: Katherine Welles / Shutterstock.com General Motors (NYSE: GM ) is one of the biggest names in the automotive space. However, it has been struggling to grow top-line results in recent years, prompting a pivot towards an all-electric future. GM fully embraces the EV future and plans to ditch its legacy combustion engine business. It has plans to invest over $35 billion in its EV efforts by 2025. Moreover, by 2035, it plans only to be producing EVs. The focus on EVs will likely prove extremely beneficial to GM stock in the long run. It recently announced it was re-instating its dividend and increased its buyback capacity by a whopping $5 billion with a forward yield of close to 1%. Additionally, its stock has been trading at under 0.37 times forward sales. On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelors of science degree in applied accounting from Oxford Brookes University. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air It doesnt matter if you have $500 or $5 million. Do this now. The post 7 of Cathie Woods Favorite Stocks to Buy Now appeared first on InvestorPlace . || Stock market news live updates: Stocks close higher as Wall Street braces for Fed meeting: U.S. stocks found their footing in the final hour of back-and-forth trading Monday after all three major indexes logged their worst week in three months. [Click here to read what's moving markets on Tuesday, Sept. 20] The S&P 500 climbed about 0.7%, while the Dow Jones Industrial Average rose nearly 200 points, or 0.6%. The tech-heavy Nasdaq gained 0.8%. In the bond market, the benchmark U.S. 10-year Treasury touched 3.5%, its highest level since 2011, while the 2-year Treasury note inched toward 4%. Investors are gearing up for the Federal Reserve’s two-day policy meeting on Sept. 20-21 . The U.S. central bank is expected to deliver a third-straight 75-basis-point increase at the conclusion of discussions on Wednesday at 2:00 p.m. ET. Higher-than-expected inflation data last week sparked a sell-off across U.S. equity markets after renewing fears the Fed will ramp up the magnitude of its monetary tightening efforts and tip the economy into a recession. The benchmark S&P 500 shed 4.7% for the week, the Dow Jones Industrial Average fell 4.1%, and the tech-heavy Nasdaq Composite tumbled 5.5%. A pre-earnings warning from shipping giant FedEx ( FDX ) also exacerbated growth concerns on Friday after the company said a global recession could be underway, withdrawing its full-year guidance on macroeconomic trends that have "significantly worsened." NEW YORK, NEW YORK - SEPTEMBER 16: Traders work on the floor of the New York Stock Exchange (NYSE) on September 16, 2022 in New York City. The Dow Jones Industrial Average fell again on Friday as economic concerns over inflation and global corporate profits of transport companies fall. (Photo by Spencer Platt/Getty Images) (Spencer Platt via Getty Images) Of S&P 500 companies that held earnings calls from June 15 through Sept. 8, 240 cited the term “recession” – the highest number citing the term since at least 2010, and well above the five-year average of 52, according to data from FactSet research. As investors barrel into the earnings season, Wall Street strategists are sounding the alarm on earnings expectations, with macroeconomic headwinds including inflation and rate pressures increasingly showing signs of weighing on corporate margins. Bank of America’s Michael Hartnett warned in a recent note that earnings cuts will be the catalyst for a deeper sell-off and sees the S&P 500 teetering towards 3,600 – and even 3,000 in the bear case. As of Friday’s close, the index was at 3873.33. Story continues As Fed worries kept investors in a risk-off mood, the sentiment was also felt across cryptocurrency markets. Bitcoin ( BTC-USD ) tumbled below $19,000 before clawing back above that level, and Ethereum ( ETH-USD ) extended a slide to hover near $1,300 after its highly anticipated “merge” last week. — Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc Click here for the latest trending stock tickers of the Yahoo Finance platform Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance Download the Yahoo Finance app for Apple or Android Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , and YouTube || UniJoin launches Bitcoin Mixer and Bitcoin Tumbler to restore actual Anonymity: UniJoin launches a CoinJoin technology, a Bitcoin Mixer and Bitcoin Tumbler, to allow users make their crypto finances untraceable and bring anonymity to the deals.
London, UK, Sept. 12, 2022 (GLOBE NEWSWIRE) --UniJoinhas launched a CoinJoin technology, a Bitcoin Mixer and Bitcoin Tumbler, through which it intends to allow users make their crypto finances untraceable and bring anonymity to the deals.
According to the UniJoin team, its goal is to help users regain and maintain their anonymity by using the CoinJoin technology to mix their crypto assets in a pool with other users and receive untraceable coins in exchange for their contributions to the pool.
About UniJoin
UniJoin is a company that helps its users to stay anonymous with their cryptocurrency finances by leveraging the power of CoinJoin technology.
The team explained that it adopted the technology to improve users’ anonymity with their Cryptocurrency finances, noting that most of the existing currencies such as Litecoin, Bitcoin, and a host of others aren’t absolutely anonymous but pseudonymous.
Privatizing and analyzing your activities are super easy on the platform. Provided you can connect with your wallet address, you can easily read your financial activities on the blockchain and analyze them more effortlessly than you would with a traditional bank.
According to the UniJoin team, you can also mix your cryptos in a pool with other anonymous users to regain and maintain your anonymity. In exchange, you’ll receive untraceable coins that help you remain anonymous.
Anonymity
UniJoin offers the anonymity-guaranteed Bitcoin Mixer and Bitcoin Tumbler technology to its user community.
As an anonymous user, UniJoin allows you to perform several functions which include storing crypto funds in your wallet after mixing, purchasing goods and services online, sending crypto to acquaintances, and investing in digital assets in countries where cryptocurrencies are restricted.
Key Features
1. Simplicity of Use
Simplicity is one of UniJoin’s major strengths. Remaining anonymous with your cryptos is super simple on the platform. With a couple of steps, you’ll switch to Anonymous mode and conduct your activities without revealing your identity.
1. Tor Browser Integration
Achieving the highest level of anonymity is possible on UniJoin, thanks to its Tor Browser integration that allows you to visit the platform as an anonymous user.
1. No Stored Logs
UniJoin prioritizes its users’ privacy by not having a log of their activities.
1. CoinJoin Technology
Thanks to its integrated CoinJoin technology, the company provides the most optimized and highest quality mixing method.
Website:https://unijoin.io/
Social Media:
Telegram:https://t.me/unijoin
Twitter:https://twitter.com/unijoinofficial
YouTube:https://www.youtube.com/c/UniJoin
Facebook:https://www.facebook.com/UniJoin-108173465095161
Reddit:https://www.reddit.com/r/UniJoin/
Disclaimer : There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. This is not an investment advice. Please do you own research.
Media ContactCompany Name: UniJoin LTD.Contact Name: Sergei PavlovEmail: info@unijoin.ioLocation : London/UK || Markets: Bitcoin, Ether, Solana, Cardano, XRP extend gains on the day: Prices of Bitcoin, Ethereum, Cardano, XRP and Solana rose on Tuesday afternoon in Asia. See related article: Markets: Bitcoin rises slightly, Ether and Ethereum Classic gain amid price run for alternatives Fast facts Bitcoin rose 0.77% in the past 24 hours as of 4 p.m. in Hong Kong to US$19,906.86. Ethereum saw bigger gains today after it maintained a steady 4.47% growth over the past seven days, rising 6.12% to US$1,658.68, according to data from CoinMarketCap . Other top 10 cryptocurrencies on CoinMarketCap also strengthened, with Solana rising 4.04%, XRP 2.51%, Cardano 3.19% and Polkadot 1.56%. Asian equity markets changed little today. The Shanghai Composite Index gained 1.36%, Tokyo’s Nikkei 225 Index 0.025% while Hong Kong’s Hang Seng Index fell 0.12%. TerraClassicUSD and Ethereum Classic remain the top gainers on the last day. TerraClassicUSD rose 44.42%, and Ethereum Classic rose 28.10%. Among smaller altcoins, Flux, the native token of the Web 3.0 ecosystem of the same name, rose 16.77%. Bitcoin Gold, a hard fork of Bitcoin Cash, gained 15.93%. Flux has grown by 31.34% in the last seven days, with some market participants attributing the rally to the Proof-of-Work Flux blockchain as an alternative for Ethereum, which will soon shift to a Proof-of-Stake model. See related article: Why Ethereum PoW fork gains some crypto exchange backings || First Mover Asia: Crypto Trading Firm Amber CEO Argues Bitcoin Can Still Be an Inflation Hedge; Cryptos' Surprising Rebound: Good morning. Here’s what’s happening: Prices: Bitcoin and other major cryptos were holding the same range they'd occupied prior to the latest inflation figures. Insights: The CEO of crypto trading firm Amber says there's no better asset for holding value than bitcoin. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sign up for First Mover , our daily newsletter putting the latest moves in crypto markets in context. Prices ● CoinDesk Market Index ( CMI ): 949.89 +1.2% ● Bitcoin ( BTC ): $19,663 +2.9% ● Ether ( ETH ): $1,322 +2.2% ● S&P 500 daily close: 3,669.91 +2.6% ● Gold: $1,666 per troy ounce −0.2% ● Ten-year Treasury yield daily close: 3.95% +0.05 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Bitcoin's Counterintuitive Rebound By James Rubin So much for conventional wisdom. The hotly anticipated Consumer Price Index (CPI) arrived hotter than expected, the type of reading that usually sends riskier assets spiraling down. Instead, bitcoin did the reverse on Thursday, recovering from an early stumble to regain its now-familiar perch over $19,000. The largest cryptocurrency by market capitalization, which was recently up more than 2% and trading above $19,600, has been occupying a narrow band between $19,000 and $21,000 for much of the past month, hamstrung by concerns about untamable inflation and the rising prospect of a harsh recession. "What we saw today was the culmination of a month-long buildup in protection purchasing and build up in implied and realized volatility," Jon Campagna, head of trading and capital markets at crypto investment fund CoinFund, wrote to CoinDesk in an email. Story continues Campagna noted the pronounced declines in bitcoin and ether one-day trading volumes from the previous night following the CPI report, and a "similar dynamic" in equities markets. "The VIX (CBOE Volatility Index) actually declined 4.5%!" he wrote. "The CPI number was hot, but it was an expected level of hot. This caused a relief rally as the put protection was sold and books were adjusted to slightly increase risk." The 8.2% CPI, up 0.1% from last month's figure, and 6.6% core inflation reading, which does not include volatile food and energy prices, offered the latest reminder of inflation's stubbornness. Both readings represented four-decade highs. Ether and other major altcoins followed bitcoin's Thursday pattern, plunging steeply before rapidly recovering lost ground. The second-largest crypto in market value was recently changing hands below $1,300, roughly flat from Wednesday, same time. GALA and DOT were among the day's big gainers, recently rising more than 3% and 2%, respectively. ADA sank slightly. The CoinDesk Market Index (CMI) , a broad-based market index that measures the performance of a basket of cryptocurrencies, recently increased by 0.52%. Stocks Crypto prices dovetailed with equity markets, which also sank early before rebounding with a vengeance, with the tech-focused Nasdaq, S&P 500 and Dow Jones Industrial Average all climbing well over 2% to break six-day losing streaks as short-term sellers may have looked to benefit from recent plunges. The underlying conditions that have concerned markets, however, remain in full force, with the U.S. central bank now even more likely than pre-CPI to stay on course for another 75 basis point rate hike – or perhaps higher. Mortgage rates in the once-torrid housing market now stand at a two-decade high near 7%. Meanwhile, at an Institute for International Finance (IIF) event on Wednesday, Jamie Dimon again called crypto tokens "decentralized Ponzis" even as he praised aspects of blockchain technology. The JPMorgan CEO has been among crypto's most prominent critics, intermittently voicing his concerns about security, even as his bank has been fined billions of dollars for its own violations of statutes. In written comments to CoinDesk, Mark Connors, head researcher at Canadian digital asset firm 3iQ, said that today's activity had not changed the recent economic and investment backdrop. "Lots of cross-currents," Connors wrote. "Nothing resolved except that inflation is more persistent than expected." Connors added, perhaps optimistically, that bitcoin had been less volatile than the Nasdaq on Thursday. "That is a material difference, and one we believe will persist as equities drop," he said. He added: "The recent outperformance of BTC and ETH in Q3 and today's lower volatility profile are NOT an accident. The tourists are gone from crypto, BTC is on the right side of the [ halving ], crypto regulation is accelerating – critical to Institutional adoption and equity risk is massively underestimated." Biggest Gainers Asset Ticker Returns DACS Sector Gala GALA +3.5% Entertainment Polkadot DOT +2.3% Smart Contract Platform Stellar XLM +1.7% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Cardano ADA −0.4% Smart Contract Platform Decentraland MANA −0.1% Entertainment Dogecoin DOGE −0.1% Currency Insights Crypto Trading Firm Amber CEO Says Bitcoin Can Still Be an Inflation Hedge By Shaurya Malwa Crypto markets have largely mirrored the downtrend in major equity indexes, including the previous month’s sharp price corrections. Bitcoin and ether, the two largest cryptocurrencies by market capitalization, have fallen over 70% from all-time highs in 2021. SOL has dropped over 85%. The steep declines have been antithetical to bitcoin and other cryptocurrencies’ envisioned role as a hedge – similar to gold – against the real-world economy and popular financial instruments like stocks or bonds. Crypto faithful have recently started questioning bitcoin’s hedging role as more speculative than real. But some traders, including Michael Wu, the co-founder of crypto trading firm Amber, have counter-argued that market dynamics explain recent falling prices instead of buyer sentiment. “It is a bit early to say crypto failed as an investment hedge,” Wu, recently told CoinDesk. “Short-term correlations say more about overall liquidity conditions, as we are on a rate-hiking cycle and supply-demand dynamics as most crypto investors are also tech investors and had to reduce their portfolio across the board, rather than fundamental drivers.” Wu added: “Bitcoin is still a better form of storage of value than anything else that existed before, and Ethereum, along with the decentralized digital economy being built upon it, offers tremendous value as a tech infrastructure investment,” Wu said. He stressed the “need to be more patient” to see the value propositions of alternative currencies play out over the next few years or even decades. Wu and similar types of investors are taking a long-term approach toward cryptocurrency investments that actively avoid chasing short-term movements and instead embrace a structural shift from traditional finance to the crypto ecosystem. “If we zoom out beyond the short-term trading horizon which crypto folks are too used to focusing on and look at the long-term structural trends, we will see that the fundamental investment values in crypto as an asset class have continuously become stronger and stronger over time,” Wu said. Important events Devcon Bogota 2022 11:30 a.m. HKT/SGT(3:30 UTC) Export and Import Price Indexes (Sept./YoY) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Bitcoin Falls After Hotter-Than-Expected Inflation Report; OCC Chief Hsu on Banks’ Crypto-Related Activities The Consumer Price Index (CPI) report for September showed inflation ran hotter than expected in spite of interest rate hikes. Crypto markets were down across the board. Bob Iaccino of Path Trading Partners joined "First Mover" to discuss what happens next. To discuss the future of crypto regulation, the acting chief of the Office of the Comptroller of the Currency (OCC), Michael Hsu, and former Securities and Exchange Commission Branch Chief Valerie Dahiya of Perkins Coie LLP joined "First Mover." Headlines Ether Becomes Deflationary for First Time Since the Merge: Coinbase: The number of tokens fell by 4,000 over the last week as more ether was burned verifying transactions than was created, the report said. Stablecoin Issuer Tether Cuts Commercial Paper Holdings to Zero: The company has been gradually replacing its commercial paper holdings with U.S. Treasury bills. Police Complaints in This Indian District Are Going on the Polygon Blockchain: "This is very close to my heart," tweeted Polygon's co-founder Sandeep Nailwal, citing corruption in local police departments that can lead to the manipulation of public complaints. Bitcoin Sinks After US CPI Report Shows Inflation Hotter Than Expected: The "core" Consumer Price Index, seen as a more steady indicator of inflation, rose 6.6% from a year prior – a four-decade high. China's CBDC Transactions Reach $14B as Uptake Slows, South China Morning Post Reports: Transaction volume in e-CNY has only increased by 14% in 2022 from the end of last year compared with the 154% growth recorded in the last six months of 2021. || Encryptus Becomes the First Institutional Grade Trading Desk to Enter the Bloktopia Metaverse: Encryptus is thrilled to be on Bloktopia’s Metaverse to start the Metarse journey
Dubai, UAE, Sept. 13, 2022 (GLOBE NEWSWIRE) -- The metaverse is rapidly growing to become a world phenomenon, ushering in a new era of the internet age. It is the revolutionary representation of the physical world vis-à-vis the progressing digital world.
The nascent emerging technology that is Web3 is the focal engine driving the speed at which the metaverse is developing. The metaverse is shaping up a new dimension of growth and opportunities for several industries — enabling people and businesses to connect, engage, collaborate and pilot innovation.
Recently, major Banks like DBS, JPMorgan and HSBC launched on the Metaverse. Gartner forecasts that by 2026, 25% of people will spend at least one hour per day in the Metaverse.
While the metaverse is still at the formative stage, forward-thinking companies such asEncryptusare taking advantage of the new opportunities in the ever-evolving sector. Launching its own virtual office in the metaverse, Encryptus has gone ahead to become the World’s first institutional desk to enter the sphere to offer Crypto < > Fiat services on the Bloktopia Metaverse.
The avant-garde trading desk offers crypto exchanges, high-net-worth individuals, sovereign wealth funds, venture capitalists, asset management companies, institutional investors, fund managers, and private investors a compliant and licensed crypto desk for converting their major crypto assets to fiat currency and fiat currency to cryptos.
With a core focus on technology, compliance, monitoring and sharing economy; Encryptus has automated the user journey right from onboarding to wallet whitelisting. The platform supports BTC, ETH, USDC, USDT and MATIC on the crypto side and supports GBP, EUR and USD on the fiat side
“We are excited to be the first crypto <> fiat trading platform to be on the Metaverse. As per one of the reports Metaverses in total are expected to host $800 billion worth of transactions by 2024. Encryptus is thrilled to be on Bloktopia’s Metaverse to start the Metarse journey. The guys have done a great job and are taking a progressing approach to host companies like us,” commented Shantnoo Saxsena, Founder of Encryptus.
Encryptus’s CMO; Abhinav Mehta commented “ We see metaverse as another operationally efficient vehicle to push crypto education and adoption. Beyond that, it will be a cardinal meeting point for ordinary individuals to converge, share ideas and learn. Soon we will be hosting Institutional Meetup and networking sessions in the Metaverse”
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Contact Person : Abhinav MethaEmail : abhi@encryptus.ioCompany : EncryptusLocation : Dubai, UAE || Chicago Mayor Nixes Property Tax Hike in Budget Proposal: (Bloomberg) -- Chicago Mayor Lori Lightfoot abandoned a property tax increase in her 2023 budget proposal because revenue is rising more than expected, offering a reprieve to households that were facing a 2.5% hike in a year of red-hot inflation. Most Read from Bloomberg Credit Suisse CEO Seeks to Calm Markets as Default Swaps Climb Tesla Deliveries Miss Estimates, Slowed by Logistic Snarls Get Ready for Another Bear-Market Rally, Strategist Emanuel Says Gazprom Halts Gas Supplies to Italy in Latest Energy Battle OPEC+ to Consider Output Cut of More Than 1 Million Barrels As a result of this strong improvement in revenues, we have determined it is important to give our taxpayers some additional relief, Lightfoot said in an emailed statement on Thursday. The budget that I will propose to city council on Monday will not include a CPI increase on the property tax levy. Chicago expects to post a $128 million budget gap next year, the lowest in recent memory, with revenue forecast to be $200 million higher than earlier projections, according to the statement. In a Twitter post last month, the citys Office of Budget and Management indicated that recreation and business tax receipts are expected to beat 2022 levels. The improved fiscal picture allows the city to avoid levying a property tax increase during a period of high inflation, Lightfoot said. She had initially proposed a 2.5% increase for 2023, which is half what Chicago could enact under a 2020 ordinance that ties property taxes to inflation with a cap of 5%. In the recent past, the decision to not increase property taxes would have almost certainly meant spending cuts, increases to other taxes and fees, or extracting savings from debt refinancings, said Justin Marlowe, a public finance research professor at the University of Chicago, in an email. In FY23 the Mayor has the luxury of not making those trade-offs. Chicago residents already pay one of the highest property tax rates in the country, with the Windy City ranking the 13th highest in the nation and Illinois second among US states. And many residents dont directly see the benefit of their payments, as more than 80% of property taxes went toward city employee pensions in the 2022 fiscal year, according to an analysis from the watchdog Civic Federation. Story continues Read more: Chicagos High Property Taxes Pay for Squeezed Retiree Benefits That share, which has nearly doubled since 2013, makes Chicago unique among US cities, Marlowe said. The entire $42.7 million levy that would have come from a 2.5% hike in 2023 was slated for pensions. Chicagos public pensions are chronically underfunded, which has contributed to its lower credit rating. As of last year, the citys pension for firefighters was funded at about 21%, municipal employees at 23%, police at 24% and laborers at 46%, according to Chicagos annual financial report. Lightfoot recognized those challenges and committed to never shrinking from its obligations. The coming fiscal year will mark the second that Chicago makes its statutorily required pension contribution a signal to taxpayers, business leaders and investors that City Hall takes its fiscal responsibilities seriously, Marlowe said. Our pension obligations are real and continue to grow in the out years, she said. We will use all tools at our disposal, including the CPI, in future years, as necessary to meet those obligations. (Updates with academic comments.) Most Read from Bloomberg Businessweek The Unstoppable Dollar Is Wreaking Havoc Everywhere But America The World Sees Brazils Election as a Climate Flashpoint. Brazilians Have Other Concerns Jay Powell Needs Investors to Lose Money Twitter Is in This Mess Because Jack Dorsey Was Too Busy Being a Bitcoin Influencer Cash Retakes Its Crown as the Fed Wrestles With Inflation ©2022 Bloomberg L.P. || River Financial Offers Payment Gateway for Bitcoin’s Multi-Asset Upgrade: River Financial, a San Francisco-based Bitcoin technology and financial services company, has unveiled River Lightning Services (RLS), a payments gateway that utilizes a forthcoming upgrade to the Lightning Network, Bitcoin's scalability protocol.
Read more:What is Bitcoin’s Lightning Network?
The Lightning Network keeps payments off-chain for speed, lower costs and scalability but still uses the Bitcoin blockchain as a settlement layer. Lightning Labs, the infrastructure firm behind the protocol, introduced an upgrade in April called Taro that supports the transfer of stablecoins and other assets. Atest version of Tarowas released late last month.
River Lightning Services aims to make it easier for companies to access the new multi-asset functionality. Developers can integrate Lightning payments into applications with an application programming interface (API) without having to run any of the Lightning infrastructure.
“The vision behind RLS is to unlock a new era of payments for the internet by making it extremely easy for developers to integrate Lightning Network payments into their apps,” Alex Leishman, Founder and CEO of River, told CoinDesk in an email.
“The Lightning Network will support stablecoins in the near future after the initial version of the upcoming Taro protocol is released,” Leishman continued. “This will mean instant, extremely cheap, bitcoin and [U.S. dollar] payments on Lightning and RLS will make this very easy for everybody to use. RLS is doing for Lightning what Stripe did for credit cards.”
River has nearly four years of experience running Lightning Network infrastructure. The company also offersbitcoin tradingand a bitcoin mining business The RLS service has been in use for over a year by Chivo, El Salvador’s somewhat troubledstate-runbitcoin wallet. RLS is in the process of onboarding other customers, said Leishman. || Market Wrap: Bitcoin Holds Strong Above $19.5K as Investors Chew Over Latest Price Data: Price Action Bitcoin ( BTC ) was recently trading at about $19,500, up about 0.3% over the past 24 hours in choppy trading. Prices jumped sharply during the 14:00 UTC (10:00 a.m. ET) time frame and even cracked the $20,000 threshold shortly after a speech on global financial stability by U.S. Federal Reserve Vice Chair Lael Brainard. BTC then retreated to a range between $19,500 and $20,000 in the subsequent hours but experienced a sudden sell-off right before the U.S. equity market close. Brainard reiterated the Federal Reserve’s commitment to taming inflation, even at the expense of a hard economic landing. “Inflation is very high in the United States and abroad, and the risk of additional inflationary shocks cannot be ruled out,” she said at an event in New York. Ether’s ( ETH ) price recently rose to about $1,340, a 0.4% gain from the same time the previous day. The trading volume of the second-largest cryptocurrency by market capitalization was down 2.3%. Its return on investment (ROI) has fallen 13% in the past 30 days as equity markets wrapped up the third quarter. The CoinDesk Market Index (CMI) , a broad-based market index that measures performance across a basket of cryptocurrencies, rose 0.76%. “It's been a very choppy week in bitcoin, which has failed to make a sustainable run in either direction despite attempts at both,” Oanda Senior Analyst Craig Erlam wrote in an email, although he noted that bitcoin seemed to be forming a floor “a little shy of the early summer lows around $17,500.” “I keep using the word resilience when discussing bitcoin and that has very much remained the case,” he wrote, adding: “Perhaps a period of stability is what it needs.” Economic calendar The core personal consumption expenditure (PCE), the Federal Reserve's preferred measure of U.S. inflation, was hotter than expected in August, rising 4.9% on a year-over-year basis after increasing 4.7% in July. Looking ahead, the Manufacturing Purchasing Managers Index (PMI) for September issued in the U.S. and the U.K. will be released on Monday. The indexes will offer the latest evidence of manufacturing activity in both countries and the direction of their economies, which now seem to point to a sharper economic slowdown than their central banks had been hoping. Story continues U.S. equities U.S. equities slogged through a dreary day, with the tech-heavy Nasdaq, the S&P 500 (which has a heft technology component) and Dow Jones Industrial Average (DJIA) declining 0.8%, 0.9% and 1.2%, respectively. The personal consumption expenditures (PCE) index results for August, released Friday, spooked investors already fretting about high inflation. The PCE, which excludes energy costs, is a widely watched measure of price trends. Stocks have fallen steadily downward this year, with the DJIA this week becoming the latest index to fall into bear market territory, meaning it has fallen at least 20% from its previous high. Commodities Gold ticked down a fraction of a percentage point, continuing a recent trend. The traditional safe-haven investment has been swept up with riskier assets and is trading at about $1,661, a more than 14% drop over the past six months. Brent crude oil, a widely watched measure of energy markets, was selling at about 85% per barrel, up slightly, although investors remain nervous about energy prices amid threatening remarks by Russian President Vladimir Putin and the possible widening of Russian military aggression beyond Ukraine. Latest Prices ● Bitcoin ( BTC ): $19,388 −0.1% ● Ether ( ETH ): $1,334 +0.2% ● CoinDesk Market Index ( CMI ): $964 +0.6% ● S&P 500 daily close: 3,585.62 −1.5% ● Gold: $1,670 per troy ounce +0.7% ● Ten-year Treasury yield daily close: 3.80% +0.06 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Technical Take Quant Network Token Leads Weekly Gainers By Lyllah Ledesma The token, QNT , of Quant Network, a multi-faceted blockchain platform that facilitates the development of central bank digital currencies among its users, was the top-gaining cryptocurrency over the past week. QNT was recently trading at about $143, a roughly 27% increase over the past seven days. The price of QNT has surged over the past seven days. (CoinDesk). The increase comes as U.S. and foreign agencies wrestle with a vast array of cryptocurrency regulatory issues, including stablecoins and central bank digital currencies. Last week, as CoinDesk reported, U.S. House Democrats hashing out the details of this year's stablecoin regulation bill pushed for a provision directing the Federal Reserve to move forward on a digital dollar, but the negotiations settled instead on another Fed study. Even that compromise is on uncertain ground as the legislation hasn't yet been issued publicly. The draft of the House bill, which is now circulating among lawmakers and the industry, won’t yet represent the authorization Fed officials have said they are waiting for from Congress before they decide to issue a central bank digital currency (CBDC). The federal government has been inching closer to such an approval, with the U.S. Treasury Department recommending in a recent report that work on a digital dollar should continue while the executive branch also comes to a decision. Noting Quant’s CDBC business, Crypto Finance AG sales trader David Scheuermann wrote in a note that “it's no secret that governments are pushing to crack down on current stablecoins, and exploring their own digital currencies, CBDCs.” He added: “These recent political developments have sparked rumors of central banks adopting Quant Network’s overledger technology for CBDC developments,” said Scheuermann. Altcoin Roundup Cryptocurrencies XRP, MKR Shine as BTC, ETH Hold Steady Ahead of US Inflation Figure: Payments-focused cryptocurrency XRP climbed above its 200-day moving average while maker ( MKR ) hit a three-week high. A higher-than-expected figure for the core personal consumption expenditures index, the Federal Reserve's preferred measure of inflation, may inject volatility into markets. Read more here. Fintech App Eco to Convert User Balances From US Dollars to USDC: Eco will use digital settlement-service platform Zero Hash to custody the stablecoins . Read more here. Trending posts Listen 🎧: Today’s "CoinDesk Markets Daily" podcast discusses the latest market movements and a look at the current surveillance state. Bitcoin's Bullish Seasonality Muddled by Continued Slide in 'USD Liquidity Index': Bitcoin has a history of positive performance in October in eight of the past 12 years. However, the bullish seasonality may not play out this year, thanks to the declining USD liquidity. Elon Musk Was Mulling Creating a Blockchain-Based Social Media Firm Before Offering to Buy Twitter: A series of text messages released as part of ongoing litigation over the failed Twitter deal reveals the billionaire's vision for a social media platform that would charge users to put short messages on a blockchain. Crypto Lender Celsius Shouldn't Reopen Custody Withdrawals, US Trustee Says: The office has also requested the judge deny the bankrupt lending platform’s motion to liquidate its $23 million in stablecoin holdings. CoinDesk Market Index Biggest Gainers Asset Ticker Returns DACS Sector Terra Luna Classic LUNC +7.54% Smart Contract Platform Quant QNT +5.76% Currency Bitcoin Cash BCH +4.94% Currency Biggest Losers Asset Ticker Returns DACS Sector Ethernity Chain ERN -12.35% Culture & Entertainment Badger DAO BADGER -6.73% DeFi Celsius CEL -5.24% Currency Sector classifications are provided via the Digital Asset Classification Standard (DACS) , developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. The CoinDesk Market Index (CMI) is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements. || First Mover Asia: Crypto Trading Firm Amber CEO Argues Bitcoin Can Still Be an Inflation Hedge; Cryptos' Surprising Rebound: Good morning. Here’s what’s happening:
Prices:Bitcoin and other major cryptos were holding the same range they'd occupied prior to the latest inflation figures.
Insights:The CEO of crypto trading firm Amber says there's no better asset for holding value than bitcoin.
Catch the latest episodes ofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis. Andsign up for First Mover, our daily newsletter putting the latest moves in crypto markets in context.
●CoinDesk Market Index (CMI): 949.89+1.2%
●Bitcoin (BTC): $19,663+2.9%
●Ether (ETH): $1,322+2.2%
●S&P 500 daily close: 3,669.91+2.6%
●Gold: $1,666 per troy ounce−0.2%
●Ten-year Treasury yield daily close: 3.95%+0.05
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
Bitcoin's Counterintuitive Rebound
By James Rubin
So much for conventional wisdom.
The hotly anticipated Consumer Price Index (CPI) arrived hotter than expected, the type of reading that usually sends riskier assets spiraling down.
Instead, bitcoin did the reverse on Thursday, recovering from an early stumble to regain its now-familiar perch over $19,000. The largest cryptocurrency by market capitalization, which was recently up more than 2% and trading above $19,600, has been occupying a narrow band between $19,000 and $21,000 for much of the past month, hamstrung by concerns about untamable inflation and the rising prospect of a harsh recession.
"What we saw today was the culmination of a month-long buildup in protection purchasing and build up in implied and realized volatility," Jon Campagna, head of trading and capital markets at crypto investment fund CoinFund, wrote to CoinDesk in an email.
Campagna noted the pronounced declines in bitcoin and ether one-day trading volumes from the previous night following the CPI report, and a "similar dynamic" in equities markets. "The VIX (CBOE Volatility Index) actually declined 4.5%!" he wrote. "The CPI number was hot, but it was an expected level of hot. This caused a relief rally as the put protection was sold and books were adjusted to slightly increase risk."
The 8.2% CPI, up 0.1% from last month's figure, and 6.6% core inflation reading, which does not include volatile food and energy prices, offered the latest reminder of inflation's stubbornness. Both readings represented four-decade highs.
Ether and other major altcoins followed bitcoin's Thursday pattern, plunging steeply before rapidly recovering lost ground. The second-largest crypto in market value was recently changing hands below $1,300, roughly flat from Wednesday, same time. GALA and DOT were among the day's big gainers, recently rising more than 3% and 2%, respectively. ADA sank slightly. TheCoinDesk Market Index (CMI), a broad-based market index that measures the performance of a basket of cryptocurrencies, recently increased by 0.52%.
Stocks
Crypto prices dovetailed with equity markets, which also sank early before rebounding with a vengeance, with the tech-focused Nasdaq, S&P 500 and Dow Jones Industrial Average all climbing well over 2% to break six-day losing streaks as short-term sellers may have looked to benefit from recent plunges. The underlying conditions that have concerned markets, however, remain in full force, with the U.S. central bank now even more likely than pre-CPI to stay on course for another 75 basis point rate hike – or perhaps higher. Mortgage rates in the once-torrid housing market now stand at a two-decade high near 7%.
Meanwhile, at an Institute for International Finance (IIF) event on Wednesday, Jamie Dimon again called crypto tokens "decentralized Ponzis" even as he praised aspects of blockchain technology. The JPMorgan CEO has been among crypto's most prominent critics, intermittently voicing his concerns about security, even as his bank has been fined billions of dollars for its own violations of statutes.
In written comments to CoinDesk, Mark Connors, head researcher at Canadian digital asset firm 3iQ, said that today's activity had not changed the recent economic and investment backdrop. "Lots of cross-currents," Connors wrote. "Nothing resolved except that inflation is more persistent than expected."
Connors added, perhaps optimistically, that bitcoin had been less volatile than the Nasdaq on Thursday. "That is a material difference, and one we believe will persist as equities drop," he said.
He added: "The recent outperformance of BTC and ETH in Q3 and today's lower volatility profile are NOT an accident. The tourists are gone from crypto, BTC is on the right side of the [halving], crypto regulation is accelerating – critical to Institutional adoption and equity risk is massively underestimated."
[{"Asset": "Gala", "Ticker": "GALA", "Returns": "+3.5%", "DACS Sector": "Entertainment"}, {"Asset": "Polkadot", "Ticker": "DOT", "Returns": "+2.3%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Stellar", "Ticker": "XLM", "Returns": "+1.7%", "DACS Sector": "Smart Contract Platform"}]
[{"Asset": "Cardano", "Ticker": "ADA", "Returns": "\u22120.4%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Decentraland", "Ticker": "MANA", "Returns": "\u22120.1%", "DACS Sector": "Entertainment"}, {"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\u22120.1%", "DACS Sector": "Currency"}]
Crypto Trading Firm Amber CEO Says Bitcoin Can Still Be an Inflation Hedge
By Shaurya Malwa
Crypto markets have largely mirrored the downtrend in major equity indexes, including the previous month’s sharp price corrections.
Bitcoin and ether, the two largest cryptocurrencies by market capitalization, have fallen over 70% from all-time highs in 2021. SOL has dropped over 85%. The steep declines have beenantithetical to bitcoinand other cryptocurrencies’ envisioned role as a hedge – similar to gold – against the real-world economy and popular financial instruments like stocks or bonds.
Crypto faithful have recentlystarted questioningbitcoin’s hedging role as more speculative than real. But some traders, including Michael Wu, the co-founder of crypto trading firm Amber, have counter-argued that market dynamics explain recent falling prices instead of buyer sentiment.
“It is a bit early to say crypto failed as an investment hedge,” Wu, recently told CoinDesk. “Short-term correlations say more about overall liquidity conditions, as we are on a rate-hiking cycle and supply-demand dynamics as most crypto investors are also tech investors and had to reduce their portfolio across the board, rather than fundamental drivers.”
Wu added: “Bitcoin is still a better form of storage of value than anything else that existed before, and Ethereum, along with the decentralized digital economy being built upon it, offers tremendous value as a tech infrastructure investment,” Wu said. He stressed the “need to be more patient” to see the value propositions of alternative currencies play out over the next few years or even decades.
Wu and similar types of investors are taking a long-term approach toward cryptocurrency investments that actively avoid chasing short-term movements and instead embrace a structural shift from traditional finance to the crypto ecosystem.
“If we zoom out beyond the short-term trading horizon which crypto folks are too used to focusing on and look at the long-term structural trends, we will see that the fundamental investment values in crypto as an asset class have continuously become stronger and stronger over time,” Wu said.
Devcon Bogota 2022
11:30 a.m. HKT/SGT(3:30 UTC)Export and Import Price Indexes (Sept./YoY)
In case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:
Bitcoin Falls After Hotter-Than-Expected Inflation Report; OCC Chief Hsu on Banks’ Crypto-Related Activities
The Consumer Price Index (CPI) report for September showed inflation ran hotter than expected in spite of interest rate hikes. Crypto markets were down across the board. Bob Iaccino of Path Trading Partners joined "First Mover" to discuss what happens next. To discuss the future of crypto regulation, the acting chief of the Office of the Comptroller of the Currency (OCC), Michael Hsu, and former Securities and Exchange Commission Branch Chief Valerie Dahiya of Perkins Coie LLP joined "First Mover."
Ether Becomes Deflationary for First Time Since the Merge: Coinbase:The number of tokens fell by 4,000 over the last week as more ether was burned verifying transactions than was created, the report said.
Stablecoin Issuer Tether Cuts Commercial Paper Holdings to Zero:The company has been gradually replacing its commercial paper holdings with U.S. Treasury bills.
Police Complaints in This Indian District Are Going on the Polygon Blockchain:"This is very close to my heart," tweeted Polygon's co-founder Sandeep Nailwal, citing corruption in local police departments that can lead to the manipulation of public complaints.
Bitcoin Sinks After US CPI Report Shows Inflation Hotter Than Expected:The "core" Consumer Price Index, seen as a more steady indicator of inflation, rose 6.6% from a year prior – a four-decade high.
China's CBDC Transactions Reach $14B as Uptake Slows, South China Morning Post Reports:Transaction volume in e-CNY has only increased by 14% in 2022 from the end of last year compared with the 154% growth recorded in the last six months of 2021.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 19550.76, 19334.42, 19139.54, 19053.74, 19172.47, 19208.19, 19567.01, 19345.57, 20095.86, 20770.44
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-06-17]
BTC Price: 249.28, BTC RSI: 70.69
Gold Price: 1176.40, Gold RSI: 43.53
Oil Price: 59.92, Oil RSI: 52.95
[Random Sample of News (last 60 days)]
CoroWare to Present at RoboUniverse Conference in New York City: CoroWare to Present at RoboUniverse Conference in New York City;CoroBot SparkDemos at RoboUniverse, Austin Maker Faire, and San Mateo Maker Faire
BELLEVUE, WA / ACCESSWIRE / May 7, 2015 /CoroWare, Inc. (COWI), announced today that it will be presenting and exhibiting at the RoboUniverse 2015 Conference and Expo at the Javits Convention Center in New York City.
Lloyd Spencer, CEO of CoroWare, will be participating in a workshop session entitled "Educators Bonanza - Discovering Resources and Getting Started with Robotics Education" with 3 other presenters, discussing a range of programs, organizations, tools and curriculum for all levels to get started in teaching robotics.
"We are delighted to have CoroWare join us as a sponsor and featured speaker at RoboUniverse 2015," said Richard Erb, Executive Director of RoboUniverse Conference & Expo. "As an early pioneer in robotics education with the launch of the CoroBot in 2007 and its adoption of Robot Operating System in 2009, CoroWare continues to lead the way in open robotics platforms with its CoroBot product line."
Mr. Spencer's presentation will include theCoroBot Spark, a low cost educational kit designed for hands on learning and projects that emphasize "learning about robotics through doing." This ground breaking robotics platform will be on demonstration at the CoroBot Booth at RoboUniverse, the Austin Maker Faire and at the San Mateo Maker Faire in Cypress Semiconductor's booth.
For questions about CoroWare investor relations, please contact us atinvestor@coroware.comor 1-800-641-CORO (2676), option 4.
About RoboUniverse and Mecklermedia
For more information and to register for RoboUniverse New York, visitrobouniverse.com/new-york.
MecklerMedia(MECK) is the leading producer of global trade shows, conferences, and digital publications covering 3D printing, robotics, and bitcoin/blockchain. MecklerMedia produces more than 25 conferences annually, including Inside 3D Printing, Inside Bitcoins, RoboUniverse, and the 3D Print Design Show. MecklerMedia's news sites include Inside Bitcoins News and 3D Printing Industry, which provide up-to-date coverage to help drive business forward. All current MecklerMedia press releases can be found online at:mecklermedia.com
About CoroWare
Headquartered in Bellevue, Washington and with its robotics division in Austin, Texas, CoroWare is a solutions integrator with expertise in affordable and open mobile robotics, data analytics, and R&D engineering services.
CoroWare is recognized as an innovative mobile robotics solutions integrator in the research community because of its expertise in Robot Operating System (ROS), robotics simulation, and robotics application development. CoroWare's CoroBot product line has been shipped to over 100 researchers and educators in over 25 countries worldwide.
For more information on CoroWare and its products and services, please visitwww.coroware.com.
Safe Harbor Statement: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") (http://www.sec.gov/about/laws/sea34.pdf(Sec.21E p. 223). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. CoroWare takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Investor Relations:
investor@coroware.com(800) 641-2676, option 3
Marketing Relations:
Madison JostolMarketingEye Seattleinfo@marketingeye.com+1 (206) 369-1950
SOURCE:CoroWare, Inc. || Your first trade for Wednesday, June 17: The "Fast Money" traders gave their final trades of the day.
Tim Seymour was a seller of the IWM(NYSEArca: IWM.
Steve Grasso was a buyer of DECK(NYSE:DECK-News).
Brian Kelly was a buyer of UA(NYSE:UA-News).
Guy Adami was a buyer of ADBE(NASDAQ:ADBE-News).
Trader disclosure: On June 16, 2015 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long AAPL, T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Steve Grasso is long AAPL, BAC, DD, DECK, EVGN, MJNA, PFE, T, TWTR, GDX firm is AVP, TWTR his kids own EFG, EFA, EWJ, IJR, SPY. Brian Kelly is long DXGE, BTC=, BBRY, U.S. Dollar, he is short Australian Dollar, he is short Canadian Dollar, he is short Euro. he is short Yen, he is short Yuan. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• CNBC.com Earnings Central || After the SendGrid Hack, Beware of Phishing Scams: Email has become a critical tool for transactions — from the sending of Uber receipts to delivery of hotel coupons. Naturally, companies that send mission-critical consumer emails often turn to third-party firms like SendGrid to manage the delivery of millions of messages. Of course, as third parties that maintain trusted relationships with both consumers and corporations, such email providers are an obvious target for hackers. Imagine the damage a criminal could do if he could believably pose as a giant tech firm and send out emails to all consumers? Such emails could ask millions of users to reset their passwords, for example, or update their credit card information, or even send bitcoins. Such attacks are now under way. SendGrid, which has 180,000 customers and sends emails for giants like Uber and Spotify, said this week that a hacker who broke into company systems earlier this month did more damage than initially believed. On April 9, the firm confirmed to The New York Times that a Bitcoin-related client account had been compromised and used to send phishing emails to its customers. But on Monday, SendGrid said additional investigation revealed that one of its own employees' accounts had been compromised and used to access several SendGrid systems in February and March. "These systems contained usernames, email addresses, and . . . passwords for SendGrid customer and employee accounts," the firm said on its blog . "In addition, evidence suggests that the cyber criminal accessed servers that contained some of our customers' recipient email lists/addresses and customer contact information." SendGrid says it has not found evidence that customer lists were stolen, but it "cannot rule out the possibility." The firm is urging its clients to change passwords and enable two-factor authentication. It takes only a little creativity to imagine all the damage a hacker who managed to steal customer email lists and credentials could do. But a harrowing tale told by cloud provider Chunkhost.com on its website offers a cautionary tale . Co-owner Nate Daiger wrote last year that a hacker talked SendGrid into changing its point of contact email from support@chunkhost.com to support@chunkhost.info, then used that change to retrieve a password reset email on two bitcoin-using clients. Fortunately, both clients used two-factor authentication, Daiger wrote. Story continues "Our customers' accounts were protected and the attackers were stymied. But it was really close," he wrote. Corporate clients who use third-party email services should be on notice: hackers are actively targeting such accounts. Meanwhile, here's an important notice to consumers: You can't believe everything you read, even an email that appears to come from a company you trust . Hackers can sent out very believable-looking phishing emails with requests for password changes or payment information. You should always be skeptical of such emails, but now, you have new reasons to be so. When feasible, avoid clicking on links in emails and instead visit websites directly by typing the site address into your web browser's address bar. If you have given up sensitive information to a phisher, it's important to take steps to control the damage. If it's an account number, report your account info as stolen so the bank or card issuer can close the account, or take similar steps to stop or undo any instances of fraud. Keep a close eye on your account statements, and check your credit reports and credit scores for signs that someone has opened an account in your name, or is using an existing one. You can get your credit reports for free every year from AnnualCreditReport.com, and you can get your credit scores for free from several sources, including Credit.com . More from Credit.com Identity Theft: What You Need to Know 3 Dumb Things You Can Do With Email How Can You Tell If Your Identity Has Been Stolen? || Arizona State Makes College More Attainable: Last week, Arizona State announced its plans to make the courses for an entire freshman year of college available online for students to access from anywhere in the world. While the prospect of online degree courses is nothing new, Arizona State is setting an important precedent for US schools the entire program will be free of charge. A New Way To Learn The US university will be working together with edX, a non-profit online learning platform that was created by Harvard University and the Massachusetts Institute of Technology, to provide higher level learning to anyone who wants it. The courses will be available to be taken for college credit, which the students can then use toward a degree at Arizona State or any other University that accepts the transfer credits. Try Before You Buy The program is expected to significantly improve the college experience for many different groups as it will allow students to build confidence before spending a great deal on college. Around 40 percent of those who start at a US college are unable to earn a degree within six years, but the online program is expected to help decrease those figures. Related Link: Are Consumers Being Deceived About Organic Foods? Students can take the Arizona State courses online free of charge, and pay $200 per credit once the course is passed in order to redeem university credit. If a student fails the course or decides against using their credits, they won't be charged. By taking and passing an entire year's worth of classes, students can compete their freshman year of college for just $5,160, compared to out-of-state students living on campus who often pay nearly $40,000 per year. A Wide Range Of Audiences The online program is expected to draw in a wide variety of students who, for some reason or another, don't want to shell out the cash for a year of tuition. The university said it is expecting foreign students who want to study in the US to sign up as well as those who dropped out of school or decided not to continue their education past the high school level. Story continues The program will also be useful for high school students who want to determine whether or not they are ready to go on to college. See more from Benzinga Improving Relations With Cuba Likely To Boost The Ferry Business Bitcoin Exempt From VAT Tax In Spain The Shift Toward Automated Investment Advisors © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Conexus Acquires a Majority Interest in Bitcoin Direct LLC: NEW YORK, NY--(Marketwired - May 19, 2015) - Conexus Cattle Corp. (OTC PINK:CNXS) announced today the acquisition of a 51% membership interest in Bitcoin Direct LLC, Nevada limited liability company ("Bitcoin" or the "Company"), which provides bitcoin transaction solutions for consumers in what we believe is a rapidly expanding industry, still in its infancy. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal. The Company anticipates rapidly expanding its network of Company owned ABMs in the coming months.
In addition to operating its own bitcoin ABMs, the Company also anticipates partnering with local operators to create an integrated bitcoin distribution network in high traffic locations across North America. The Company, through its relationships with leading bitcoin miners, plans to supply bitcoins, as well as provide ABM equipment to these local operators.
Bitcoin plans to offer a full range of bitcoin transaction solutions to a wide variety of industries, including remittance and gaming, among others.
Under the terms of the transaction, Conexus, Bitcoin, and all of the members of Bitcoin, entered into a Securities Exchange Agreement, pursuant to which Conexus acquired memberships interests representing 51% of Bitcoin in exchange for 500 shares of the Conexus's Series H Preferred, with an aggregate stated value equal to $500,000 (the "Exchange Agreement"). In accordance with the terms of the Exchange Agreement, Conexus agreed to provide a working capital facility to Bitcoin in an amount up to $300,000 to be utilized by Bitcoin as needed, and to be repaid by Bitcoin from working capital generated from Bitcoin's operations. In addition, the Exchange Agreement provides an option to the members of Bitcoin for a period of five years to repurchase from the Conexus 10% of the Bitcoin membership interests held by Conexus for $250,000. Additional details of the transaction are included in the Conexus' Current Report on Form 8-K filed today with the U.S. Securities and Exchange Commission.
Conrad Huss, President of Conexus, commented, "We are excited to have acquired the majority interest in Bitcoin Direct LLC, along with its experienced management team. Our strategy is to provide sound, profitable, bitcoin transaction solutions to consumers, and to assist a variety of industries as they grow their markets. The Company is ready to help pioneer and promote the consumer adoption of bitcoin through automated solutions across North America."
About Bitcoin Direct LLCBitcoin Direct LLC provides bitcoin transaction solutions for consumers. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal.
Safe HarborThis press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include statements regarding the elimination of debt positioning the Company for growth and the vote of confidence in the growth plans. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the Company's ability to complete its intended growth plans in a timely manner and the other factors discussed in Current Reports on Form 8-K. Copies of these filings are available atwww.sec.gov || Greece's Drama Set To Continue Through The Weekend: This weekend, EU finance ministers are set to meet in Riga, Latvia, where they will discuss the state of the ongoing negotiations over Greece's bailout funds. However, Athens' strained relationship with many of its creditors and a general feeling of mistrust between the two sides will likely hinder forward progress. Running Out Of Cash Greece has been quickly running out of funding over the past three months, as negotiations for its next injection of cash have hit a wall. The nation's creditors say that Greek officials have not provided the necessary data to give them an accurate portrayal of the nation's financial condition and claim that Prime Minister Alexis Tsipras' reform proposals are insufficient and do not demonstrate a real commitment to change. Related Link: EU Policymakers Express Frustration As Greek Bailout Talks Flatline Strained Relationships Tsipras, who was elected into office based on his promises to end Greece's austerity programs, has been at odds with his EU creditors over how to shore up his nation's balance sheet. German officials have become increasingly skeptical about sending more cash, as they consider Tsipras' reversal of several previously agreed upon bailout conditions a violation of Athens' bailout contract. Grexit? Although there has been some rhetoric about allowing Greece to leave the eurozone, most don't expect that to be the final outcome. On Tuesday, the head of the eurogroup Jeroen Dijesselbloem assured markets that a Grexit is not an option and that it would be in everyone's best interest to keep Greece inside the eurozone. This weekend, Dijesselbloem said he is hoping the region's finance ministers will make some progress toward a deal in order to get the funds to Greece before its loan repayments bankrupt the government. Image Credit: Public Domain See more from Benzinga Bitcoin Makes Its Way To Social Media What Will Google's Wireless Service Look Like? House Set To Review And Pass Controversial Information-Sharing Bill © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Lucrazon Global Helps Merchants by Integrating Cryptocurrency With Bitcoin Payment Acceptance: IRVINE, CA--(Marketwired - May 4, 2015) - California-based Lucrazon Global (http://www.lucrazonglobal.com/), a fully integrated Ecommerce platform and Global Business Network designed specifically for Internet entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type, reinforces its services offered by accommodating encrypted digital currency Bitcoin payments. The integration of Bitcoins aims at protecting merchants from online fraud and other threats, and comes shortly after Californian Governor, Jerry Brown, passed a bill to approve Bitcoins as a legitimate form of currency for financial transactions in the state (source:http://cointelegraph.com/news/113235/bitcoin-becomes-legal-tender-for-transactions-in-california).
Cryptocurrency is a form of digital currency that is managed and utilized with the help of encryption techniques such as cryptography (source:http://www.investopeia.com/articles/forex/091013/future-cryptocurrency.asp). The technology is increasingly popular among ecommerce vendors who use it to process transactions and verifications with the help of networks. After initial security hiccups, Federal Reserve recently declared it a trustworthy alternative to paper money. The fact that cryptocurrency is irreversible allowsLucrazon Globalto protect paying customers against chargebacks -- a type of fraud that is possible through more conventional transaction methods like credit card payments.
Lucrazon Global's introduction of the encrypted currency comes at a favorable time that holds a lot of potential for international merchants in circumventing certain risks: According to an annual report by LexisNexis merchants incurred a loss of about $3.4 billion in 2011 through online fraud alone (source:http://btctheory.com/2013/10/30/fraud-chargebacks-and-Bitcoin/). Alex Pitt, CEO ofLucrazon Global, knows that chargebacks have been the bane of ecommerce ventures for years. These can be filed against a customer's billing statement on his credit card if a charge is disputed. Since there are no chargebacks in cryptocurrency, Lucrazon Global's incentive is designed to protect merchants from such malicious schemes thereby keeping transactions secure.
Bitcoins are originally bought from exchange companies by investors and traders by using valuable currencies. Online businesses that utilize the technology require customers to store the digital funds in online storage software such as eWallets, on their PCs, or on the web. Payments with the currency are enabled through "Pay with Bitcoin" options on these sites. In 2013, Bitcoins grew exponentially and have become a preferred currency for several types of ecommerce transactions. A number of online stores have adopted the currency as their payments of choice. Brands who have gotten on the Bitcoin trend include Target, Victoria's Secret, the car company Tesla, Zynga, Apple's App Store, Home Depot, Wikipedia, and Subway to name a few (source:http://www.Bitcoinvalues.net/who-accepts-Bitcoins-payment-companies-stores-take-Bitcoins.html). By offering Bitcoins as a payment option, Lucrazon Global now introduces the cryptocurrency to smaller stores and businesses.
A fully integrated e-commerce platform and Global Business Network, Lucrazon Global is designed specifically for Internet Entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type. Specializing in providing multi functional websites such as ecommerce stores, the company offers solutions like product inventories, integrated shopping carts, drop shipments, access to multiple suppliers, and real time account activation. The company has become a leader in ecommerce solutions by working closely with suppliers, manufactures, fulfillment centers centralizing opportunity making it simple for anyone to become an online business professional.
For more information or to become a Brand Partner, visit:http://www.lucrazonglobal.com/
Lucrazon Global's blog:http://lucrazonglobalnews.com/
Lucrazon Global Facebook:https://www.facebook.com/LucrazonGlobal
Lucrazon Global - Twitter:https://twitter.com/lucrazon
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2815608Embedded Video Available:http://www2.marketwire.com/mw/frame_mw?attachid=2815611 || Despite Warnings About A Grexit, Investors Remain Calm: With Greece and its EU creditors still trying to work out the details of an agreement to release the nation's bailout funds just days before Athens is due to make loan repayments, policymakers in other parts of the world are beginning to worry that a Greek exit from the eurozone is becoming a real possibility. However, warnings from the U.S. and Canada have done little to upset investors, who appear to firmly believe that the two sides will reach a deal in the 11th hour. Concern Abroad On Wednesday, US Treasury Chief Jacob Lew warned EU lawmakers that a Greek exit from the currency union would be devastating to global financial markets. Lew appeared worried that European policy makers were complacent now that stability has returned to the region, and he cautioned that a crisis in Greece would almost certainly upset the balance in the region. Related Link: Will Spain Become The Next Greece? Canadian Finance Minister Joe Oliver reiterated Lew's remarks, saying that Greece may be small, but the ripple effect of a Greek crisis would be massive. Lew and Oliver are heading to a Group of Seven meeting in Germany on Thursday, where Greek financial troubles will undoubtedly be a part of the discussion. Investors Believe Resolution Is In Sight Despite the tension surrounding Greek debt talks, investors have kept their calm. A Sentix survey of 1,000 investors showed that only 41 percent believe a Grexit is imminent. That figure, though still high, marks a decline from the 49 percent who saw Greece leaving the euro in April. Although the debt talks have dragged on longer than anticipated, rhetoric from both sides suggest that there is a commitment to keeping Greece inside the eurozone, which has given investors confidence that the deal will be completed before Athens defaults. Image Credit: Public Domain See more from Benzinga Should The UK Regulate Bitcoin Wallets? Federal Government Reminds Workers That Marijuana Is Still Off Limits Entrepreneurs Got Their Groove Back In 2014 © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bitcoin brokerage Circle gets $50 million investment: (Reuters) - Bitcoin brokerage Circle Internet Financial Inc said it closed a $50 million investment round led by Goldman Sachs and IDG Capital Partners.
The company also said it will start giving customers the ability to hold, send, and receive U.S. dollars.
Circle, a startup founded in 2013 by Brightcove Inc founder Jeremy Allaire and Sean Neville, allows customers to hold, transfer and receive the digital currency, Bitcoin.
The company said if its users choose to keep dollars instead of bitcoin in their accounts, they can pay any person or merchant who accepts bitcoin without ever holding bitcoin themselves.
Circle will handle instant conversion from dollars to bitcoins and vice-versa.
The feature will be initially available to select customers and the company will offer it to more users every week.
Goldman Sachs and China-based IDG Capital were joined by all of Circle's existing investors.
(Reporting by Anya George Tharakan in Bengaluru) || Bitcoin Alternative Jetcoin Disrupts Sports Industry, Athlete And Fan Relationships Launching Cryptocurrency Presale: Bringing Wall Street And Blockchain Technology To The World Of Sports And Entertainment, Jetcoin Institute Is Pleased To Announce The Jetcoin Presale: Jetcoin Is Backed By Gold Bullion Allowing Anyone To Own IP Rights Of Promising Athletes And Talents SINGAPORE, SG / ACCESSWIRE / April 19, 2015 / Jetcoin, the new digital fuel for the world of sports and entertainment, gives fans and supporters a unique opportunity to benefit directly from the success of their favourite athletes and stars. It disrupts traditional fan-athlete/talent relationships by enabling anyone to launch and support the careers of tomorrow's stars. Using block chain technology, Jetcoin decentralises the world of sports and entertainment, ruled today by powerful agents and corporations. Jetcoin tilts the power balance by establishing the first platform where anyone can own IP rights of promising athletes and talents. Also the first digital currency to be backed by precious metal collateral (gold) via a partnership with XNF, Jetcoin is tradeable across 3 continents through DXMarkets. Uniquely backed by physical assets, Jetcoin is issued by the Jetcoin Institute, which has gathered a team of first-class advisors led by world famous currency expert, Prof. Bernard Lietaer. The Jetcoin Platform will be built with NXT technology to deliver a unique and decentralised financial platform. Jetcoin holders are able to earn revenues through Jetcoin Contracts and its social media rewards system, P.O.S.E. (Proof Of Social Engagement) as well as access unique lifestyle experiences. In August 2014, in a bid to both establish the branding of Jetcoin internationally as well as to secure a testing ground for a myriad of innovative tech applications and crowd funding concepts customised for sports and entertainment, Jetcoin became the first digital currency to become the main sponsor of a Serie A football team, A.C. ChievoVerona. In developing the Jetcoin ecosystem of partnerships, deals have been made with top service providers like Samsung Sportsflow and Pogoseat to optimise fan experience and engagement in sport entertainment. Jetcoin Institute has also recently developed and launched Stadia, a free sport app aimed at increasing fan interaction and engagement during live football. Story continues For a limited time period, jetcoins are available at a promotional price of US$ 0.02 at the official website implementation by https://jetcoininstitute.com. Compared to the Bitcoin, whose rise from its initial sale price of less than US$0.01 to its peak of US$1250, Jetcoin - backed by physical assets - is poised to track an interesting trajectory. About Jetcoin Main sponsor of Serie A football team, A.C. ChievoVerona, 'jetcoin' is a new digital fuel issued by the Jetcoin Institute. It gives fans and supporters in the world of sports and entertainment a unique opportunity to benefit directly from the success of their favourite athletes and stars, both financially and also through unique lifestyle experiences such as seat upgrades, access to VIP boxes, exclusive events, behind-the-scenes and/or after-parties etc. Jetcoin Institute continues to work with partner teams, brands and service providers to offer exclusive deals to jetcoin holders. Visit https://jetcoininstitute.com About Prof. Bernard Lietaer Prof. Lietaer is the author of The Future of Money (translated in 18 languages), and is an international expert in the design and implementation of currency systems. He co-designed and implemented the convergence mechanism to the Euro. Visit http://www.lietaer.com About A.C. ChievoVerona A.C. Chievo Verona is a professional Serie A Italian Football club named after and based in Chievo, Verona, in the Veneto region. Visit http://chievoverona.tv About Samsung Sportsflow SportsFlow delivers the latest sports news, photos and videos from around the world via one single app. Visit http://www.sportsflow.me About XNF XNF is a digital currency with a physical collateral in GOLD. XNF Trading provides the easiest way to acquire virtual currencies (Jetcoin - XNF) in exchange for traditional currencies (USD and EUR) and bitcoins. Visit http://www.nofiatcoin.com About DXMarkets DXMarkets is a cutting-edge trading platform for digital currencies. The platform offers a fully customisable dashboard that caters for beginners and experienced traders. DXMarkets aims to position itself as the preferred choice for financial institutions wanting to integrate digital currencies into their product portfolio. Visit https://dxmarkets.com About NXT NXT is an open source cryptocurrency and payment network, using proof-of-stake to reach consensus for transactions. As such there is a static money supply and no mining as with Bitcoin. NXT is specifically conceived as flexible platform to build applications and financial services around. Visit http://www.nxt.org About Pogoseat Pogoseat is an enterprise solution for sports teams and concert venues that enables their fans to upgrade seats and purchase unique VIP upgrades. Pogoseat currently works with clients across the NBA, MLB, NHL, AFL, The Football League and NCAA all over America. Visit https://www.pogoseat.com About Stadia Stadia is a free app powered by Jetcoin that optimises fan experience during live football, available for download on Android and IOS. Visit http://www.stadia.club For more information about us, please visit https://jetcoininstitute.com Video URL: https://www.youtube.com/watch?feature=player_embedded&v=U6p-3VYPLVg Contact: Celia Wong pr@jetcoininstitute.com Jetcoininstitute Source: Jetcoin
[Random Sample of Social Media Buzz (last 60 days)]
current #bitcoin price (okcoin) is $218.4, last changed Mon, 27 Apr 2015 05:27:59 GMT. queried at: 05:28:00 || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $1,099.05 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $1.1E-5 per #reddcoin
03:00:02 || One Bitcoin now worth $225.04@bitstamp. High $226.05. Low $223.00. Market Cap $3.168 Billion #bitcoin || Buying bitcoins can be delicious at https://Bittylicious.com/refer/2465 £164.00 per BTC. (BPI +4.42%) #buy #bitcoin #banktrans || LIVE: Profit = $1,079.36 (28.94 %). BUY B16.39 @ $226.37 (#BTCe). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 18 exchange pair(s), yielding profits ranging between $0.00 and $2,326.50 #bitcoin #btc || current #bitcoin price (winkdex) is $230.47, last changed Fri, 24 Apr 2015 18:15:00 GMT. queried at: 18:17:53 || Bitcoin traded at $234.78 USD on BTC-e at 07:00 AM Pacific Time || current #bitcoin price (okcoin) is $219.03, last changed Mon, 27 Apr 2015 07:53:00 GMT. queried at: 07:53:00
|
Trend: no change || Prices: 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51, 242.80, 243.59, 250.99
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/10/19: Bitcoin Cash ABC fell by 0.1% on Thursday. Partially reversing a 0.45% gain from Wednesday, Bitcoin Cash ABC ended the day at $223.29.
A choppy start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $225.28 before hitting reverse.
Falling short of the first major resistance level at $226.15, Bitcoin Cash ABC slid to a late afternoon intraday low $216.87.
The sell-off saw Bitcoin Cash ABC fall through the first major support level at $222.36 and second major support level at $219.84.
Late in the day, Bitcoin Cash ABC found support to move back through to $220 levels to limit the downside on the day.
At the time of writing, Bitcoin Cash ABC was down by 0.99% to $221.08. A bearish start to the day saw Bitcoin Cash ABC slide from an early morning high $223.13 to a low $217.87.
Steering clear of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $218.35 before finding support.
For the day ahead, a move back through to $221.80 levels would support a rebound later in the day.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from this morning’s high $223.13.
Barring a broad-based crypto rebound, the first major resistance level at $226.76 would likely cap any upside.
Failure to move back through to $221.80 levels could see Bitcoin Cash ABC fall deeper into the red. A fall back through the first major support level could see Bitcoin Cash ABC test the second major support level at $213.4.
Litecoin rose by 0.02% on Thursday. Following a 1.07% gain from Wednesday, Litecoin ended the day at $56.44.
Tracking the broader market, Litecoin slid from an early morning high $56.61 to an early afternoon intraday low $53.62.
Litecoin fell through the first major support level at $55.56 and second major support level at $54.68
Holding above the third major support level at $53.23, Litecoin recovered to a late intraday high $57.05.
The late break out saw Litecoin come up against the first major resistance level at $57.01 before easing back in the final hour.
At the time of writing, Litecoin was down by 0.51% to 56.15. A bearish start to the day saw Litecoin slide from an early morning high $56.68 to a mid-morning low $55.24.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a hold onto $56 levels through the morning would support another run at $57 levels.
Litecoin would need the support of the broader market, however, to break through the first major resistance level at $57.79.
Failure to hold onto $56 levels could see Litecoin slide back to $54 levels before any recovery.
Barring an extended sell-off, the first major support level at $54.36 should limit the downside on the day.
Ripple’s XRP fell by 2.61% on Thursday. Reversing a 2.03% rise from Wednesday, Ripple’s XRP ended the day at $0.24767.
Tracking the broader market through the morning, Ripple’s XRP slid from an early morning intraday high $0.25472 to an early afternoon intraday low $0.24250.
The reversal saw Ripple’s XRP fall through the first major support level at $0.2487 and the second major support level at $0.2435.
Through the 2ndhalf of the day, Ripple’s XRP managed to break back through the second major support level.
Bearish sentiment, however, left Ripple’s XRP at sub-$0.25 levels on the day.
At the time of writing, Ripple’s XRP was up by 0.21% to $0.24820. A mixed start to the day saw Ripple’s XRP strike an early morning high $0.25036 before falling to a low $0.24529.
Steering clear of the major support and resistance levels, Ripple’s XRP found support to move back into the green.
For the day ahead, a move back through to $0.2490 levels would support a run at the first major resistance level at $0.2541.
A shift in sentiment across the broader market would be needed, however, for Ripple’s XRP to take a run at Thursday’s high $0.25472.
Barring a broad-based crypto rebound, Ripple’s XRP would likely come up short of $0.26 levels for a 3rdconsecutive day.
Failure to move back through to $0.2490 levels could see Ripple’s XRP hit reverse. A fall back through the morning low $0.24529 would bring the first major support level at $0.2419 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.24 levels on the day.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Crude Pauses After Nasty Slide, U.S. Nonfarm Payrolls Next || 2 Top Blockchain Stocks to Buy Now: People seeking to profit from the game-changing potential ofblockchain technologyoften attempt to tradecryptocurrenciesas a means to do so. Yet while fortunes can certainly be made in the crypto markets, trading cryptocurrencies is ahigh-risk endeavor.
A far lower-risk way to profit from the disruptive potential ofbitcoinand its underlying technology is to invest in companies that stand to benefit from its adoption. Here are two such businesses.
Image source: Getty Images.
CME Group(NASDAQ: CME)operates the leading bitcoin futures exchange. Bitcoinfutures contractsare binding agreements that allow people to make bets on whether the cryptocurrency's price will rise or fall over a set period of time. In this way, they give traders a way to speculate on the cryptocurrency's volatile price swings.
Yet futures contracts can also be used by bitcoin holders to limit risk. As an example, if you own bitcoin but would prefer not to sell it -- perhaps to avoid capital gains taxes -- you could sell a futures contract to hedge your position until the contract's expiration date. Used in this way, futures can be viewed as a form of insurance for bitcoin investors.
Both of these use cases are helping to fuel demand for bitcoin futures among both institutional and individual investors. Although CME Group's bitcoin operations are currently a small portion of its overall business, cryptocurrency-based products are likely to remain a significant growth driver for the company -- particularly if it chooses to launch new futures markets for additional cryptoassets, such as Ethereum, in the future.
Moreover, as a highly profitable and asset-light business, CME Group produces tremendous amounts offree cash flow. The company passes much of this cash on to shareholders via a combination of regular quarterlydividendsand a variable annual payout, which usually equate to an annualizedyield of about 5%.
As such, CME Group can provide you with the means to generate a sizable income stream from the growing popularity of bitcoin and other futures products.
Square(NYSE: SQ)is perhaps best known for its popular commerce tools. Its hardware and software help small businesses process credit card payments, manage inventory, schedule staffing, and conduct a host of other important operational tasks. Square has also branched out into ancillary markets, such as business loans and peer-to-peer payments, with Square Capital andCash App. The company's ever-expanding ecosystem forms a wideeconomic moatthat helps to protect it from the competition and fuel its growth.
Square CEO Jack Dorsey's ardent support of bitcoin also makes the stock a great play on the growth of the popular blockchain-based technology. Dorsey is building a team of elite developers, known as Square Crypto, to help strengthen bitcoin's network. Under Dorsey's direction, the company also rolled out the ability tobuy and sell bitcointo users of its Cash App. The feature has proven popular among cryptocurrency fans, and it produced $125 million in revenue for Square in the second quarter alone.
Even after years of torrid growth, Square still has tremendous room for expansion. Global card payment volume will grow to more than $78 trillion by 2027, according to the Nilson Report. Square's gross payment volume of $95 billion over the past year represents just a tiny fraction of this massive market. Moreover, several of its other businesses, such as Square Capital, also have the potential to grow exponentially in the decade ahead.
Better still, investors currently have the opportunity to buy Square's stock at a sizable discount. A recentpullback in growth stockshas Square trading at a price 36% below its 52-week high -- a bargain that's unlikely to last long.
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Joe Tenebrusohas no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool owns shares of and recommends CME Group and Square. The Motley Fool has the following options: short September 2019 $70 puts on Square. The Motley Fool has adisclosure policy.
This article was originally published onFool.com || Investors Downplay Self-Proclaimed Bitcoin Inventor’s Liquidation Warning: (Bloomberg) -- Craig Wright is warning that billions of dollars in Bitcoin could soon flood the cryptocurrency market after an unfavorable court hearing.
Investors seem to be taking the alert in stride, with Bitcoin little changed at about $10,150 after the self-proclaimed inventor of the cryptocurrency under the pseudonym Satoshi Nakamora said he “has no choice” but to hand over $5 billion to the estate of his late business partner, Dave Kleiman.
“I’m not worried about Craig transferring Bitcoin to Kleiman because I don’t think he has any to transfer,” Ryan Selkis, chief executive officer at crypto researcher Messari Inc., said in an email. “It’s a sideshow, not a real story.”
Wright is defending himself against allegations that he stole Bitcoins and intellectual property from the Kleiman estate. Speculation that the judge reached a decision in the case spiked late Monday after a Twitter user claimed to attend the latest court hearing. Nothing has been filed yet by the federal court in Florida.
“The judge still has to make the final decision,” Ed Pownall, a spokesman for Wright, wrote in an email to Bloomberg.
That hasn’t stopped Wright from warning of the potential consequences.
“The courts ruled that Ira (Kleiman, brother of Dave Kleiman) inherited those billions,” Wright wrote in an email forwarded by Pownall. “Now he has to pay estate tax on that if he wants it.”
Wright said in earlier testimony that he handed off a key piece of information to Kleiman before he died in 2013, making it hard to track down the digital wallets holding the Bitcoins. He said it’s possible he may never be able to access the coins.
“The Kleiman family has waited a long time to recover assets that should have been returned to it shortly after Dave’s unfortunate death in 2013,” Devin Freedman, a partner at Roche Freedman LLP, which represents the estate, wrote in an email Monday to Bloomberg.
To contact the reporter on this story: Olga Kharif in Portland at okharif@bloomberg.net
To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Rita Nazareth
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. || UK Central Bank Chief Sees Digital Currency Displacing US Dollar as Global Reserve: A central bank-supported digital currency could replace the dollar as the global hedge currency, said Bank of England governor Mark Carney. Speaking at the Economic Policy Symposium in Jackson Hole, Wyoming, on Friday Carney discussed the need for a new international monetary and financial system (IMFS), noting that while the U.S. dollar has played a dominant role in the world order over much the past century, recent developments such as increased globalization and trade disputes may have stronger impacts on national economies at the present moment than they would have in the past. Carney highlighted the dollar’s use in international securities issuance, its use as the primary settlement currency for international trades and the fact that companies use dollars as examples of its dominance. However, “developments in the U.S. economy, by affecting the dollar exchange rate, can have large spillover effects to the rest of the world.” Related: China’s Digital Fiat Wants to Compete With Bitcoin – But It’s Not a Crypto “While the world economy is being reordered, the U.S. dollar remains as important as when Bretton Woods collapsed,” Carney continued. Carney suggested a number of possible replacements to the dollar, including the Chinese renminbi, and most notably, a digital currency supported by an international coalition of central banks. He said: “It is an open question whether such a new Synthetic Hegemonic Currency (SHC) would be best provided by the public sector, perhaps through a network of central bank digital currencies.” “An SHC could dampen the domineering influence of the U.S. dollar on global trade,” Carney said. Related: Bank of England Governor Says Facebook’s Libra Crypto Will Be Scrutinized Technology can disrupt the current network effects that protect the dollar, he explained, noting that an increasing number of transactions occur online and use electronic payments rather than cash. While he did not explicitly reference cryptocurrencies, he did note that “the relatively high costs of domestic and cross border electronic payments are encouraging innovation, with new entrants applying new technologies to offer lower cost, more convenient retail payment services.” Story continues Libra example One example is Facebook’s proposed Libra crypto project, he noted. The social media giant has proposed Libra as a payments infrastructure and stablecoin backed by a basket of national currencies. To succeed, Libra needs to address regulatory issues, Carney said. “The Bank of England and other regulators have been clear that unlike in social media, for which standards and regulations are only now being developed after the technologies have been adopted by billions of users, the terms of engagement for any new systemic private payments system must be in force well in advance of any launch.” While a digital currency might not yet be ready to replace the dollar as a global currency, “the concept is intriguing,” Carney said. “It is worth considering how an SHC in the IMFS could support better global outcomes, given the scale of the challenges of the current IMFS and the risks in transition to a new hegemonic reserve currency like the Renminbi,” he said. If this new SHC were to take on a greater share of global trade, “shocks in the U.S. would have less potent spillovers,” he suggested, adding: “By the same token, global trade would become more sensitive to changes in conditions in the countries of the other currencies in the basket backing the SHC.” Image credit: Twocoms / Shutterstock.com Related Stories Thai Central Bank Builds Blockchain Solution for Digital Currency Project Korean Central Bank Study: Issuing Digital Currency Poses Financial Risk || Stock Market Today: Breakout or Breakdown for Bitcoin?: It was a very quiet day in the stock market today, with the S&P 500 and Dow Jones Industrial Average finishing close to flat on Thursday. The SPDR S&P 500 ETF (NYSEARCA: SPY ) fell 1 basis point, the SPDR Dow Jones Industrial Average (NYSEARCA: DIA ) dropped 0.2% and the PowerShares QQQ ETF (NASDAQ: QQQ ) rallied almost 0.2%. InvestorPlace - Stock Market News, Stock Advice & Trading Tips We’ve had a lot of news to digest lately, even though the stock market continues to chop around close to its high. The SPY ETF actually made a new all-time high on Thursday, albeit briefly. However, we’ve now seen significant moves in bonds, gold, high-growth tech stocks and have seen the S&P 500 break out of its August trading range. Further, investors heard from the Federal Reserve on Wednesday that it will cut interest rates. To top it all off, U.S.-China trade war headline risks are still possible. It’s been a complex couple of weeks. It also has some investors wondering what asset class will make the next big move. Will it be bitcoin? Breakout or Breakdown for Bitcoin? chart of bitcoin in the stock market today Bitcoin bounced hard off its $9,600 lows today, but the charts do not look all that great. The cryptocurrency is below most of its major moving averages, with the exception of the 200-day. Worse though, it’s making a series of lower highs as resistance squeezes it against support down near $9,360. This pattern is known as a descending triangle, a bearish technical setup where investors are looking for resistance to break the asset price below support. In this case, a break below $9,360 support could send bitcoin down to its 200-day moving average, currently near $8,000. 8 Dividend Stocks to Buy for a Recession If bitcoin can hurdles its 20-day, 50-day and 100-day moving averages, as well as downtrend resistance — which would require a move north of $10,500 presently — then we have a breakout on our hands. The best setup for investors may be to wait and see which one comes first, and then place their respective trades. That’s opposed to guessing whether it will breakout or breakdown. Investors can also trade bitcoin via the Grayscale Bitcoin Trust (OTCMKTS: GBTC ), shown below. Movers in the Stock Market Today Microsoft (NASDAQ: MSFT ) stock hit new all-time highs after the company announced a $40 billion buyback plan and upped its dividend by 11% to 51 cents per share. While the payout remains stubbornly low — yielding just under 1.5% — keep in mind that MSFT stock is up nearly 150% over the past three years. In 2019 alone, it’s up about 25%. Story continues It continues to lead mega-cap tech in market cap too, now trading with a $1.1 trillion valuation. Tesla’s (NASDAQ: TSLA ) Model 3 received the top safety rating from the Insurance Institute of Highway Safety. That’s the first of Tesla’s four vehicles to receive the designation, if we’re including the original Roadster. Airbnb says the company will go public in 2020 after earlier announcing that it generated $2 billion in revenue in the second quarter. While there were rumblings of a 2019 IPO at one point, there’s little surprise this one isn’t coming this year. The lackluster response from the public for Uber (NYSE: UBER ), Lyft (NASDAQ: LYFT ), Slack (NYSE: WORK ) and certainly We didn’t help matters. Roku (NASDAQ: ROKU ) tumbled more than 13% on Wednesday and was set for another nauseating run on Thursday. In pre-market trading, shares were down more than 5% at one point. However, after the company announced several new streaming products, shares ended the day higher, climbing 3% on Thursday. Let’s see if the recent lows can stick. Otherwise, this may just be a dead-cat bounce before more lows are made. Splitting Up? According to reports, AT&T (NYSE: T ) is reportedly weighing whether to divest its DirecTV unit. This could come via spinoff or potentially a combination with Dish Network (NASDAQ: DISH ). AT&T acquired the asset in 2015 for nearly $50 billion. The asset generates solid cash flow for AT&T, but with its bloated balance sheet and the continual loss of subscribers due to cord-cutting, DirecTV is a business that investors bemoan. AT&T has since said it’s not considering the move, but shares still rallied roughly 1% on the day. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell . As of this writing, Bret Kenwell is long ROKU and T. More From InvestorPlace 2 Toxic Pot Stocks You Should Avoid 8 Dividend Stocks to Buy for a Recession 10 Companies Making Their CEOs Rich The 7 Best S&P 500 Stocks of 2019 So Far The post Stock Market Today: Breakout or Breakdown for Bitcoin? appeared first on InvestorPlace . View comments || Coinbase to Pay Users 1.25% Interest on USDC Stablecoin Holdings: You don’t have to be a trader on Coinbase to make a profit. Starting Wednesday, customers of the San Francisco-based cryptocurrency exchange can earn interest on their holdings of the dollar-pegged stablecoin USDC. The annual percentage yield (APY) is 1.25 percent. “We’re trying to build more ways for customers to grow their wealth on Coinbase,” said Coinbase product manager Paul Katsen, adding: Related: Coinbase-Led Group Aims to Help Crypto Firms Avoid Securities Violations “One of the things we know is a bad customer experience is having to move your money back and forth from Coinbase to a bank account [to] earn a little bit of interest in the bank account. We’re trying to bring some of these experiences together but make them crypto-first and on Coinbase.” Users of the exchange with at least one dollar’s worth of USDC in their accounts will automatically begin to accrue rewards on their holdings, with no additional cost or fees. Paid out to users on a monthly basis, all rewards earned on Coinbase can be tracked in real-time and subsequently used instantaneously to buy other cryptocurrencies listed on the exchange. “The user experience is really super smooth and simple,” said Coinbase director of product Max Branzburg. “As soon as you have USDC in your account, you start earning rewards and you can see reward counting up in real-time so you know at any given time exactly how much you’re earning. You can use that right then and there on the platform to buy any other crypto.” Related: Coinbase Now Supports Stellar and Chainlink Cryptocurrencies in New York When asked how Coinbase was financing this initiative, Branzburg explained the company would be pulling from different pre-existing revenue streams. “From trading, from [Coinbase’s] custody business, from treasury management, investment activity, etc.,” he said. “We can pull from the profits we generate as a business to reward our customers for storing their assets on the platform, ” Branzburg said, adding: Story continues “We’re fortunate to be able to do that as a profitable business.” Relating to how the USDC Rewards program compares to existing bank rates in the U.S., Branzburg noted that a 1.25 percent interest rate on holdings of U.S. dollars is “15 times more than the national average or what people might get through a [traditional] savings account.” While the rates are lower than what a user could benefit from on decentralized financial (DeFi) applications such as Compound or dYdX , Branzburg said the USDC Rewards program makes earning interest on USDC exceptionally easy for consumers since they no longer have to move money into a separate application or account. “Particularly for developing economies, giving the ability for people to hold USD-equivalent funds and get something like [1.25 percent] interest a year … is really tremendous,” said Joao Reginatto, director of product management at crypto finance startup Circle, which launched USDC in partnership with Coinbase. “We see a lot of demand from consumers in developing economies, especially.” ‘Top of mind’ Outside of Coinbase, Circle is currently the only other approved entity to issue new USDC coins. Together, Coinbase and Circle make up the CIRCLE consortium meant to drive adoption for the USDC stablecoin and provide a governance framework for its continued development. Between the two startups, over 1 billion dollars worth of USDC has been issued since Sept. 26, 2018 . Beyond USDC, Coinbase’s Branzburg says similar programs could exist in the future for other cryptocurrencies on the exchange. “We see this as the beginning of long-term investment in generating rewards for customers. … We’ll continue to explore additional ways to bring even more rewards to our customers,” said Branzburg, adding: “We’re considering different assets and different geographies. Continuing to create more value for our customers is always top of mind for Coinbase.” USDC logo image via Shutterstock Related Stories Online Lender SoFi to Launch Bitcoin and Ethereum Trading Next Week Crypto Finance Firm Circle Puts Research Offering on Hold || There Are Many More Gains Ahead for Gold: Gold is following our “script”… Gold Stocks Source: Shutterstock A year ago, we told you gold prices were headed higher. This didn’t jibe with the mainstream view on gold. InvestorPlace - Stock Market News, Stock Advice & Trading Tips At the time, the metal was trading at $1,211 an ounce. And it was down 36% from its all-time high, set in September 2011. Mom-and-pop gold investors were more bearish on the metal than ever. And The Vanguard Group, the largest provider of mutual funds in the world, had just shuttered its flagship precious metals and mining fund. 7 Stocks to Buy Down 10% in the Past Week In short, mainstream investors had soured on gold… As David Neuhauser, the founder of Chicago-based hedge fund Livermore Partners, told the Financial Times after the Vanguard news… Investors have essentially run away from investing in [gold]. In Canada, which has typically been a gold haven, all the talk is about cannabis and bitcoin. It’s extremely contrarian today to invest in gold. But “extremely contrarian” is our favorite type of play here at the Cut . And as we noted at the time, while mainstream investors were running scared, industry insiders were piling in. And when the “dumb” money (mom and pop) is turning its back on an investment… and the “smart” money (industry insiders) is backing up the truck… that’s when you want to buy. Gold is up 27% since our call on August 27, 2018. The S&P 500 is flat over the same period. In short, despite almost no coverage in the mainstream media, unloved gold has been a much better place for your money than overhyped stocks. But don’t worry if you missed out on the gains so far. Gold expert E.B. Tucker says there are plenty more gains ahead… As he’s been telling Casey Research readers, he believes gold is setting up for a monster rally… one that could take gold back above its all-time peak of $1,900 an ounce. Story continues We’ll get to E.B.’s investment case for gold in a moment. But first, if you don’t already know him, a quick introduction… E.B. heads up our Strategic Investor and Strategic Trader advisories. He’s also a gold industry insider. He’s on the board of a gold mine financing company. And before joining the team here at Legacy, he comanaged a fund that invested in gold mining stocks. And he’s tracked the gold market closely for nearly two decades. That makes E.B. a connoisseur of the gold market cycle… And as he’s been telling his readers, we’re nowhere near the top of this bull market cycle… The most important thing to understand about gold is it’s a cyclical market. When gold was at $1,900 an ounce back at its peak in 2011 you had Mr. T doing gold commercials. You had “Cash for Gold” signs everywhere. Those were overenthusiastic conditions. At the bottom of the market, you have the opposite. You have guys who have been in the business for decades saying there’s no way any price jump is real. And despite the recent gains, that’s where we are now. The guys running the leading gold mining companies are demoralized. They’re beaten. They just can’t believe the gold rally is real. Fear is still the dominant emotion. So now is the time to make your investment in gold… and sit tight. Another bullish catalyst, says E.B., is that summertime is usually a slow time for the gold market… People take summer vacations. They’re out of the office. So professional investors and hedge funds don’t have time to have committee meetings to make decisions about buying gold. And these are the guys that really move the needle on prices. This is important because most of these funds have no gold. Because of all the negative news around gold… and the hype around Bitcoin… they’re more likely to have a crypto allocation than a gold allocation. So this gold rally has caught the pros off guard. They were unprepared for the spike that we saw over the past six weeks. That tells me we’re going to see price rises accelerate, as these institutional funds chase gold higher. As his colleague, I (Chris) know it pays to listen when E.B. talks gold. He has a track record of nailing calls like this. E.B.’s subscribers have already had the chance to make triple-digit gains on gold… In May of last year, E.B. added the world’s best-run gold mining firm, Agnico Eagle Mines (NYSE: AEM ), to the Strategic Investor model portfolio. Subscribers who acted on his recommendation are up 56%. And last August, E.B. recommended speculating on Aurion Resources (AU-V). Aurion is a Canadian-listed gold exploration company. Since E.B.’s recommendation, shares are up 161%. (Note: AEM and AU-V are both above E.B.’s recommended buy-up-to prices of $55 and C$1.10, respectively.) And another gold stock E.B. added to the model portfolio just a month ago, on July 29, is already up 30%. And E.B. wasn’t shy about his bullishness on gold… Last December, in an interview with gold industry news network Kitco, E.B. said gold would hit $1,500 before the end of 2019. With gold trading for just $1,236 at the time, it seemed like a long shot. But sure enough, three weeks ago, it crossed the $1,500 milestone. What can you do to make sure you don’t miss the gains still ahead for gold? E.B. says the first step is to make sure you own some physical gold… Physical gold has limited downside and big upside from here. Not only that, it has also survived every major financial crisis in history. This makes it the ultimate safe-haven asset. Owning physical gold is also one of the only ways to prevent the government from having total control over your financial life. Today, nearly every transaction is tracked by the government. Every time you withdraw money, deposit money, trade a stock, cash a check, or make a wire transfer, the government knows about it. Gold also lies outside the control of central banks like the Federal Reserve. That makes it an important way to preserve some of your financial freedom. So if you own no gold right now, investing in the physical stuff is your best option. E.B. recommends you start with 1-ounce gold bullion coins… There are two types of gold coins – rare coins (or “numismatics”) and bullion coins. If you’re just starting out, E.B. recommends avoiding numismatics. E.B… A numismatic is a coin that is no longer produced. It can be tens… even hundreds of years old. Many rare coins date from the mid-17th century. This is when coin makers stopped hand-striking coins and started striking them by machine. But here’s the real trouble with numismatic rated coins. You often pay significantly more for them than regular coins. You’re getting the same amount of gold. But numismatics cost more because of their collectible value. For a novice, that’s hard to judge. Fraud is much more common in the numismatic market. Rare or collectible coins can turn out to be fake. Or, if the gold is real, sometimes the rarity rating is not. That’s why E.B. recommends starting out with bullion coins… A bullion coin is a coin valued primarily for the gold it contains, not for its rarity. Bullion coins come in various weights. But the most popular coins contain one ounce of pure gold. And they allow you to store tremendous wealth in a small space. We know navigating the gold coin market can be confusing at first… That’s why E.B. asked coin dealer Gainesville Coins to create a page of discounted options for bullion coins as a jumping-off point. The page was originally only for paid-up readers of our Strategic Investor advisory. But because of gold’s recent moves, E.B. is making it available to all Legacy readers. (E.B. and Legacy don’t receive any compensation from Gainesville Coins for bringing you this offer. It’s purely as a service to readers.) But that’s just one way to play the monster gold rally E.B. sees coming… Once you have some physical gold, you should consider speculating on gold mining stocks. That’s because of the “leverage” – or extra oomph – they give you over the price of the gold coins and bars. We’ll be diving into that tomorrow. As you’ll see, if you’d bought gold stocks last summer, you would have nearly doubled the returns of physical gold. And that kind of extra oomph is still available… as the monster gold rally E.B. predicts plays out. Stay tuned. Regards, Chris Lowe August 28, 2019 Dublin, Ireland More From InvestorPlace 2 Toxic Pot Stocks You Should Avoid 7 Stocks to Buy Down 10% in the Past Week 15 Retail Survivors to Buy for the Long Run 7 Stocks That Wall Street Thinks Could Rise 50% Or More The post There Are Many More Gains Ahead for Gold appeared first on InvestorPlace . || Bitcoin Sees Little Price Boost From Long-Term Bull Cross: • Bitcoin continues to trade flat despite a bullish crossover of the 100- and 200-period moving averages on the three-day chart – a lagging indicator.
• BTC may lack clear directional bias for the next few weeks, historical data indicates.
• Daily and 4-hour charts continue to call a drop to recent lows below $7,800.
• A break above the 200-day moving average at $8,739 is needed to invalidate the bearish case.
A long-term bitcoin chart indicator has turned bullish for the first time in three years.
The bullish crossover sees the 100-period price average cross above the 200-period average on the three-day chart. The last time the chart event occurred was in March 2016.
So far, however, the crossover has failed to buoy prices, leaving the cryptocurrency in the bearish territory below the widely followed 200-day moving average (MA) – a barometer of the long-term trend.
Related:Next Bitcoin Halving Could Squeeze out Retail Miners, But Jury’s Split on Price
That key hurdle is currently located at $8,739, according to Bitstamp data. At press time, bitcoin is changing hands at $8,310, representing a 0.1 percent loss on the day.
It’s worth noting that MA crossovers are based on historical data and tend to lag price. As such, they usually work as contrary indicators.
Moreover, crossovers between the longer duration MAs are the product of price rallies. As a result, more often than not, the market is overbought by the time crossover happens and the confirmation is followed by a pullback.
Hence, bitcoin’s lack of response to the latest bullish cross is not surprising. Further, bitcoin remained flatlined for months following the March 2016 bull cross of the same MAs, as seen in the chart below.
Related:Thrill-Seeking Drives Investors to Trade Crypto, Study Finds
The 50- and 100-period MAs produced a bullish crossover in the last week of March 2016.
Bitcoin had entered a consolidation phase in the days leading up to the bull cross and remained flat-lined around $420 until witnessing a convincing upside move above $500 in the last week of May.
If history is any guide, BTC may continue to trade in a sideways manner around $8,000 over the next few weeks before resuming the bull run from April’s low near $4,000.
For the short term, there’s scope for a retest of recent lows near $7,750.
Bitcoin has been largely restricted to a narrow range of $8,250–$8,450 since Oct. 11.
The consolidation is preceded by a rising channel breakdown – a bearish setup. Further, bitcoin faced strong rejection above $8,800 on Oct. 11 and fell back below $8,500, invalidating the double bottom bullish reversal pattern confirmed on Oct. 9.
A double bottom is a bullish reversal pattern whose success rate is high when it appears after a notable price drop, which was the case here. Even so, the breakout failed, indicating that bearish sentiment is still quite strong.
Hence, the ongoing consolidation is likely to end with a downside move.
Bitcoin created a big bearish engulfing candle on Oct. 11, torpedoing the recovery rally and shifting risk in favor of a drop to lows below $7,800.
With the cryptocurrency trading well below $8,820 (Oct. 11 high), the bearish candle is still valid.
Also, prices remain trapped below the 200-day MA, which has consistently capped upside since Sept. 27. Notably, the cryptocurrency has struggled to gather upside traction in the last few days, despite the bullish divergence of the relative strength index – again a sign of bearish market conditions.
A bullish divergence occurs when the indicator charts higher lows, contradicting lower highs on price and is considered a strong trend reversal indicator.
BTC, therefore, risks revisiting recent lows near $7,750 in the short term. A violation there would imply a resumption of the sell-off from the September highs above $10,000 and open the doors for $7,200.
The bearish case would weaken if and when prices rise above the key MA, currently at $8,739.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoinimage via Shutterstock; charts byTrading View
• Bitcoin Faces Drop Below $8,000 Despite Beating Price Resistance
• Is Bitcoin a Safe Haven Like Gold? These Four Charts Say Not Yet || Bitcoin Bounces Back to $8K From Historically Strong Price Support: • Bitcoin has again bounced up from the 100-week moving average – a level which has acted as strong support in the previous two weeks and during the early stages of the previous bull market.
• The defense of the 100-week MA coupled with the oversold conditions on the daily chart suggests scope for a recovery rally to $8,500.
• The case for a bounce would weaken if prices find acceptance below the support level, currently at $7,753. That could pave the way for a slide to $7,200.
Bitcoin (BTC) has again defended historically strong price support near $7,700, keeping the hopes of a corrective rally alive.
The top cryptocurrency faced selling pressure and fell below $8,000 over the weekend, contradicting the possibility of a recovery rally above $8,500suggested bya key technical indicator on Friday.
Even so, all is not lost for the bulls, as the widely-tracked 100-week moving average (MA) support has held ground. BTC almost tested the key technical line at $7,753 in the Asian trading hours before rising back above $8,000 around 12:20 UTC.
Related:Bitcoin Is 2019’s Best-Performing Asset, Even After Recent Price Downturn
Notably, the long-term MA has been acting as strong support since the last week of September. Now, the bears’ repeated failure to penetrate key support may draw bids from short-term traders, yielding a corrective rally.
BTC’s defense of the 100-day MA may also excite long-term investors, as the MA had served as a base during nascent stages of the previous bull market, as seen in the chart below.
Bitcoin picked up a bid at lows near $200 in August 2015 and found acceptance above the 100-week MA in December. The cryptocurrency then faced buyer exhaustion above $460 and fell back to the 100-week MA support in the week ended Jan. 17, 2016.
Related:Bitcoin May Be Headed for a Stronger Price Bounce
The support level, then located at $367, was defended in the following three weeks, after which BTC never looked back and went on to hit a record high of $20,000 by December 2017.
Essentially, BTC created a higher low along the 100-week MA seven months ahead of the miningreward halving, which took place in August 2016.
The price action seen this year looks very similar to the one seen in 2015-2016. For instance, BTC bottomed out in the first quarter and rose to a high of $13,880 at the end of June before falling back to the 100-week MA.
More importantly, the latest defense of the 100-week MA comes seven months ahead of the next reward halving, scheduled for May 2020.
If history repeats itself, BTC could chart a solid bounce from the 100-week MA support over the next few weeks.
Moreover, many observers view the current dip as an opportunity to board the bitcoin feight train. For instance, George McDonaugh, CEO and co-founder of KR1 plc, the London-listed cryptocurrency and blockchain investment company, told CoinDesk Markets he expects bitcoin to surpass the all-time high of $20,000 in the first half of 2020.
The short-term technical charts are also calling a corrective bounce.
Bitcoin’s recent drop to sub-$7,800 levels is accompanied by falling trading volumes (above left). A low-volume drop is often short-lived.
Further, the oversold reading on the 14-day relative strength index (RSI) has gained credence due to signs of seller exhaustion near the 100-week MA. At the same time, the MACD histogram is producing shallow bars below the zero line, a sign of weakening bearish momentum.
All-in-all, a bounce to the 200-day moving average (MA) at $8,564 still looks likely. A violation there would expose resistance at $8,833 (June 2 high).
If prices find acceptance below the 100-week MA at $7,753, the case for a corrective rally would weaken and the cryptocurrency would likely drop to $7,200. Note that the weekly chart indicators are biased bearish.
As of writing, BTC is changing hands near $8,000 on Bitstamp, representing a 0.7 percent drop on a 24-hour basis.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoinimage via Shutterstock; charts byTrading View
• Coinbase Pro Is Increasing Its Fees – And Users Aren’t Happy
• Gold, Not Bitcoin, Is Drawing Haven Demand on US Recession Fears || News and Emotions Aside, This is Where Stocks and Metals are Headed: The information I talk about below and in this video should be a real eye opener for those have not seen technical analysis in action, just how clear the we can see what the stock market, bonds, metals, oil and more will do next. Even at a time like this when the markets are gyrating all over hte place from week to week, we can still gauge our risk and be a winner.
No matter where I go when someone asks me what I do for a living, the person asking has the same “Deer in the headlights” look on their face. I am a technical analyst and trade stocks and commodities for a living with zero external input other than what the price chart of an asset class has painted on the chart.
Most people have never heard of technical analysis for trading or investing, and those that have heard about it think its some type of VooDoo and holds little value. The reality is technical analysis outperforms most of those who trade based on news, earnings, economic data etc…
Why? because all those things are very random data points and unpredictable. If they are important big/smart/insider money has moved into position to take advantage of this before the information becomes public. This is why good news for stocks gets sold into once released for example.
I started trading stocks when I was 16 years old in high school and fall in love with reading charts. Now, 23 years later I have no doubt in my mind technical analysis and trading systems are the absolute best way to trade and invest for growth. Dont get me wrong I spent years digging through company perspectives, reports, press releases and a few years of doing that was almost enough to make me hate trading as it become more like a job and less profitable.
If you just want to cut to the point and know what and when to buy, take profits, and exit a position thentechnical analysis is what you seek!
The analysis presented below covers theSP500, Bond, Utilities,Gold,Silver,Oil, and even Bitcoin. This is the analysis I share very day before the opening bell to keep you up to date with current market trends, potentially explosive moves, and set you expectations so you do not become overly emotional and exit a trade early from fear, or excitement.
In the video above I talked about how the SP500 was setting critical support that day, and I did this before the opening bell at 9 am. We just take a look at what the market likes to do intraday with the price to shake traders out of their position and trigger their stop-loss orders just before a market reversal.
Focus Just On The Charts and Ignore All Other Data/Opinions or else you’ll end up with analysis paralysis.
Traders contact me every day confused about which direction to trade. I can tell a couple things very quickly about their issues depending on how they state their problem or question, and its generally a simple fix, or answer that will get them back on track but analysis paralysis is one of the most common issues.
The second half the equation for trading success is a topic most traders turn a blind eye to because it seems confusing, and, or boring. Risk management is the key to long term success and a portfolio value that always goes up and to the right. Believe it or not, its super simple, takes seconds to figure out what position size you should take in any given stock or ETF trade.
In a future post, I am going to talk about how you can take half the financial risk while making 8x more profits. Stay Tuned!
Chris Vermeulenwww.TheTechnicalTraders.com
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
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Trend: up || Prices: 8243.72, 8078.20, 7514.67, 7493.49, 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-08-26]
BTC Price: 579.65, BTC RSI: 42.51
Gold Price: 1321.50, Gold RSI: 43.03
Oil Price: 47.64, Oil RSI: 59.05
[Random Sample of News (last 60 days)]
WRIT Media Group Announces Beta Availability of CrypStock Crypto Currency Exchange: LOS ANGELES, CA--(Marketwired - Jul 5, 2016) - WRIT Media Group, Inc. (OTCQB:WRIT) today introduces beta availability for its CrypStock crypto currency exchange at the following website:www.CrypStock.com.CrypStock is a crypto-currency exchange, striving to combine the crypto-currency uniqueness with the benefits of a user-friendly but sophisticated exchange system. The platform aims to give a great user experience matched with fast support, and will add new digital currencies based on popularity and requests by account holders.
The Company plans to introduce a number of proprietary trading modules, including:
• Binary optionson the Bitcoin/USD pair - the simplest type of derivative financial instruments, allowing traders to make potential profit from trend forecasting.
• Futureson the Bitcoin/USD pair - the most popular financial instrument in the world, providing an ability to trade with big leverage and volume.
• Algorithm tradingsubsystem- traders will benefit from a friendly visual wizard for automatic trading creation, back-testing and real-time execution.
"Although the addition of another crypto-currency exchange may seem trivial, the development creates a potential shift in the cryptocurrency landscape, allowing more users direct access to the Company's Pelecoin currency," states Eric Mitchell, President of WRIT Media Group. "Pelecoin will trade against Bitcoin and other digital currencies, effectively creating a direct path between a non-Bitcoin asset and Bitcoin funding."
WRIT Media Group plans to integrate a full system into the platform to run a digital currency exchange, including a solution for automatic market-making on exchange using third party exchanges. When launched, it will work with Pelecoin, Bitcoin and other digital currency exchanges around the world.
"Having the opportunity to test and plan, with early access by real clients, has been very helpful while preparing for the planned 2017 CrypStock launch," adds Mr. Mitchell.
Opening a CrypStock Account
New users can sign up online for free and secure their own CrypStock trading account by completing a New Account Application Form atwww.crypstock.com. Once registered, users can navigate the beta version of the trading platform to monitor trading prices for various digital currencies, execute sample trades in various currencies, and provide feedback to WRIT Media Group's active development and support team.
Upon its completion of external user acceptance testing, the exchange intends to register as a Money Service Business with the United States Department of Treasury and other necessary regulatory agencies in the US and abroad. Once registered, Pelecoin may be traded in several states in the US as a digital currency. Pelecoin is also finalizing the technical and regulatory ability to trade in Asia and other continents. Qualifying account holders will then be able to trade Pelecoin, other digital currencies, and derivatives on the Company's proprietary CrypStock trading platform.
About WRIT Media GroupWRIT Media Group, Inc. (OTCQB:WRIT) is a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions.
The Company's portfolio of wholly owned businesses includes:
• Front Row Networks, a content creation company which produces, acquires and distributes live event programming for worldwide digital broadcast into digitally enabled movie theaters and online streaming;
• Amiga Games, a software company resurrecting the Amiga brand by publishing retro video games on smartphones, tablets and consoles;
• Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands on today's smartphones, tablets and consoles; and
• Pandora Venture Capital, a software developer with a focus on digital currency technologies, including; a cryptocurrency trading platform, a new generation of cryptocurrency, and Blockchain technology solutions.
Cautionary Note Regarding Forward-Looking StatementsExcept for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements.Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2015. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Pandora Venture Capital Corp., Pelecoin, CrypStock.com and its related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners. || The Danger of Cryptocurrency Markets: - By Alex Barrow One of our more profitable trades this year was in the cryptocurrency Bitcoin. Bitcoin Inventory We caught it breaking out of a long-term triangle pattern and rode it to the very top of its trend. We then successfully exited our position right before Bitcoin began breaking down last week. Warning! GuruFocus has detected 7 Warning Signs with TSLA. Click here to check it out. TSLA 15-Year Financial Data The intrinsic value of TSLA Peter Lynch Chart of TSLA For those unfamiliar, Bitcoin is a digital asset and payment system -- a virtual currency. It's considered a cryptocurrency because it doesn't require a central bank to handle its transactions. It's all self-contained through technology that encrypts and records a ledger over a distributed computer system. This technology is called the blockchain . The benefit of blockchain technology comes from its transparency. Everybody can see every transaction. The whole system is also decentralized. There's no single institution or bank that controls the transferring of assets back and forth. This (advocates claim) removes the possibility of corruption, theft and a whole host of other common problems that come with your standard financial system. Bitcoin and its fellow cryptocurrencies (several have been launched since) have become popular as alternatives to the standard fiat currencies of governments around the world. In some ways they're treated in a similar way to gold and other precious metals. Don't trust the government? Scared of inflation or other market problems? Then pile into these alternative currencies. Our Macro Ops team member Tyler actually produced an entire SitRep discussing Bitcoin, blockchain technology and its benefits. If you're interested in learning more, you can check out that presentation here . Now we like the idea of Bitcoin. Its blockchain technology is impressive and can be used in a variety of different applications. We're also fans of the engineers who created it and maintained it for this long. The whole "Silicon Valley" mentality of disrupting standard systems and finding new and better ways to do old things is inspiring. This attitude is what created cryptocurrencies in the face of centuries old banking systems. This ability to think outside the box, dismissing all previous assumptions, is one that's also useful to take and apply to our own market analysis as investors. Story continues But here's the problem. A lot of times these engineers take the disruption mentality too far. I'm sure you've heard some of the ridiculous Silicon Valley techno utopian fantasies that float around from time to time. Our favorite is the "tech island" concept that gets proposed every few years. It usually comes from a group of techies whose heads get too big as they start spouting off the benefits of a sovereign island with no rules and regulations. Just innovation. They completely disregard the benefits of the institutional structures our society has built thus far. They take the concept of disruption and stretch it, claiming that everything that's been created in the past is wrong and needs to be redone. But this makes no sense. There's usually a reason certain systems are in place and have been in place for a number years. While having the disruption mentality may give you fresh eyes to find solutions to old problems, taking it too far becomes harmful to the process. You become the obnoxious intern fresh out of college lecturing 30-year veterans on how to do their jobs. Sure you can make suggestions for improvement, but in reality you don't know anything compared to them and you need to learn. Tesla ( TSLA ) may have completely turned the auto manufacturing process on its head and revolutionized the industry, but do you think Elon Musk completely disregarded Henry Ford to do so? Hell no. He was a dedicated student of the man. Musk studied past manufacturing process down to the tee, broke out the first principles and built from there. He's far from ignorant and understood the old way was in place for a reason but could be reinvented and improved upon. The impractical side of the disruption mentality is a problem. It creates unrealistic beliefs that lead to booms and busts. And that's exactly what we're seeing in the cryptocurrency space. The advocates of these currencies have come to the point of pushing fantasies. Their long-term goal is to create a system completely free of human intervention -- with machines doing everything. In their minds, the humans are the problem and rigid automation is the solution to creating a "perfect" system. A large percentage of cryptocurrency investors believe in this vision to some extent. This belief is part of the reason you'll see massive runs in the price of these assets. But it's also why you'll see crashes, too. A potential crash is what our team at Macro Ops saw coming right before we exited our Bitcoin position and prices dropped. The problem wasn't actually in the Bitcoin market though, but instead in the Ethereum market, another cryptocurrency. This market works in a similar way, with investors exchanging Ether instead of Bitcoin. The story of the crash starts with the creation of a new "revolutionary" kind of venture capital firm -- the Decentralized Autonomous Organization (DAO). Its goal? To be the first VC with no executives. Computers would run everything. (Because humans are the biggest problem, right?) The firm used Ethereum technology to run its operations. Investors would join the fund by submitting Ether to it. Once they bought in, they would receive voting rights in proportion to their investment. Companies that wanted to be funded by the VC would submit their proposals which all the DAO investors would vote on. Whichever proposal won the voting round would be accepted and funded. All this was carried out through Ethereum technology. It was a decentralized, democratic system with full transparency -- a brand-new kind of investment firm. People considered it a beautiful extension of the technology that undermined cryptocurrencies. It excited them. And they piled in. DAO quickly raised $152 million from investors around the world. But then the unthinkable happened. The fund was robbed. A hacker exposed weaknesses in DAO's Ethereum construct and stole over $50 million. The hacking successfully put an end to the DAO. And what's more, it cast doubt on the security and durability of the entire Ethereum system. The beliefs of cryptocurrency investors took a beating. And that beating transferred to virtual currency prices. This was when the price of Bitcoin started to fall, and we exited our position. But Bitcoin's drop was minor compared to the drop in Ether prices. The price of Ether was nearly cut in half from the incident. Kraken Ethusd A nearly 50% drop in two days? That's rough. And it's also a great example of what we mean by techno fantasies creating booms and busts. But it's nothing new. It's really the same things that drive all bubbles and busts: hope, greed and fear. This isn't even the first time cryptocurrencies have run into problems like this. You may have heard of the collapse of Mt. Gox in 2014. It was the world's largest bitcoin exchange that had to shut down after being robbed of over $450 million worth of bitcoins. But it's funny because even though the same lessons are taught in each one of these fiascos, people never learn. The DAO experience is a good reminder. The first lesson is in the unavoidability of human intervention in the systems we create. Soon after the DAO robbery, Ethereum developers were actually able to catch the hacker and freeze the funds he stole. Great. Problem solved, right? Nope. This is where a giant debate erupted among the Ethereum community. Returning the stolen money to investors would require a manual change to Ethereum's underlying technology. This is a huge deal because it would require human intervention - which would defeat the whole purpose of a completely autonomous system, right? It would ruin the system's sanctity and fly in the face of the principles on which it was built. This made the decision a polarizing one. It's ironic because the community is now stuck in a political battle, just the kind they hate and created cryptocurrencies to avoid. It's stupid to think that we can avoid all intervention in a system we created ourselves. There are always inherent human biases that go into the construction of anything. In that sense, nothing we create can be "perfect" and free of human touch. This fact will almost always cause the need for a human to step into a system at some point down the line. Part two of this unavoidable human intervention concept is the legal side of the DAO robbery. Who's responsible for the stolen funds? Should the developers of the DAO be held accountable? They're the ones that made the code with the holes in it right? But wait a minute; they were just developers! The system was completely run by machines! The goal was no executives, remember? Ha. Good luck telling that to investors. When it hits the fan, people want someone to blame. Chalking it up to computer problems is not going to work. Emotions come into play, people get pissed, and a machine does not suffice as a scapegoat. This leads us to the second lesson behind the DAO failure -- regulation. As we discussed before, the Silicon Valley crowd loves to push the disruption mentality too far and pontificate about things like tech islands without any rules or regulation, where pure innovation can supposedly flourish. This same mentality carried over into cryptocurrencies. The thought was that a completely machine-based system wouldn't need regulation like standard banks. This would lead to fewer costs and a far better efficiency. This is a nice sentiment. But in reality, regulation is necessary. Now we agree overregulation is bad, which is what much of the financial system is suffering from now, but zero regulation is just as dumb. To think cryptocurrencies could somehow avoid any type of regulation is stupid. And it again goes back to what happens in cases of fraud and stolen assets. There need to be rules in place so that the right people are prosecuted and victims compensated. And it's funny because the cryptocurrency community is starting to realize this. It's starting to realize why the original banking system is there in the first place with all its rules. Turns out not all parts of the system are worthless and in need of "disruption." Surprise, surprise. We're now seeing posts like the following in various cryptocurrency circles: "We are an anonymous collective concerned with the lack of regulation in the cybercurrency sector. "We have contacted the SEC (Securities Exchange Commission) to raise awareness of the developments in Ethereum and specifically concepts like the DAO. While we generally support the innovations in cryptography and cybercurrency, the current "wild-west" environment presents dangerous pitfalls for potential investors, as the DAO attack has shown. As such, regulation is required to protect investors in the United States and abroad. We are currently in contact with investigators at the SEC, the ESC (European Securities Committee) and the MAS (Monetary Authority of Singapore) to explore this matter. "We urge the community to reach out to both the above mentioned authorities, as well as their own national regulators to explore possible measures to protect investors and to establish liability for fraudulent investment schemes. Please see below an excerpt of a Tip Complaint Referral Form Submitted to the SEC. Further information will follow shortly." Ha! Crawling back to some form of regulation, huh? So why is the silliness in the cryptocurrency space important to us as global macro investors? Well first off because this virtual currency is another market we trade. But more than that, this is a wonderful exercise in getting into the heads of investors and determining why booms and busts occur. Our metaview of this entire cryptocurrency situation helped us ride Bitcoin to highs and jump out before it faltered. We understood the investor motivations and false beliefs helping to drive the boom. And we knew any crack in that belief, such as another hacking incident, would send prices in a downward spiral. It pays to be one level above the hope, greed and fear that drives markets. Being objective and rational, while still understanding the emotional pushes and pulls that affect other investors, is the key to success. Disclosure: The author owns no shares in any stocks mentioned in this article. Start a free seven-day trial of Premium Membership to GuruFocus. This article first appeared on GuruFocus . Warning! GuruFocus has detected 7 Warning Signs with TSLA. Click here to check it out. TSLA 15-Year Financial Data The intrinsic value of TSLA Peter Lynch Chart of TSLA || How Apple And Facebook Helped Take Down The Largest Torrent-Sharing Site In The World: Thirty-year-old Ukrainian national Artem Vaulin, the alleged owner of the worlds largest torrent-sharing site, Kickass Torrents, was arrested Wednesday in Poland, accused of criminal copyright infringement and money laundering. After years on the run, the man, known over the Internet as "Tirm," was found due to a series of really dumb mistakes for a complete review of the process that led to this outcome, click here . The king of online piracy was also operating a Kickass Torrents Facebook Inc (NASDAQ: FB ) fan page apparently without even using an IP blocker or a disposable email. After the U.S. government presented a warrant requesting the social network to hand over the log data, which they did, they weren't even faced with a difficult task. Related Link: The Crucial Role Twitter Played In Finding The Center Of Our Galaxy Supposedly, Vaulin had been using an Apple Inc. (NASDAQ: AAPL )-owned @me.com email address to log into the site. Moreover, when U.S. authorities went over his emails, they found several messages related to the administration of the Kickass Torrents site. To makes things even worse, Tirm decided to use the same email account to make a legal iTunes purchase. Again, he didn't use an IP blocker, so his IP address was registered. Instead of locating and arresting Vaulin immediately, U.S. officials used the IP addresses to find his online Bitcoin account. Vaulin is charged with running todays most visited illegal file-sharing website, responsible for unlawfully distributing well over $1 billion of copyrighted materials, Assistant Attorney General Leslie Caldwell voiced in a statement . In an effort to evade law enforcement, Vaulin allegedly relied on servers located in countries around the world and moved his domains due to repeated seizures and civil lawsuits. His arrest in Poland, however, demonstrates again that cybercriminals can run, but they cannot hide from justice, she concluded. Did you like this article? Could it have been improved? Please email feedback@benzinga.com with the story link to let us know! Story continues Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above. See more from Benzinga Protecting Journalists: Edward Snowden Designed iPhone Add-On That Could Stop Eavesdroppers App Store Data Suggests Healthy Revenue Trends For Apple The iPhone Ban In Iran: Officials Confirm The Rhyme's For Real This Time © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Hong Kong bitcoin exchange says it was hacked, trading suspended: By Gertrude Chavez-Dreyfuss
NEW YORK, Aug 2 (Reuters) - Hong Kong-based digital currency exchange Bitfinex said late on Tuesday it has suspended trading on its exchange after it discovered a security breach, according to a company statement on its website.
Bitfinex is one of the largest exchanges for trading digital currencies bitcoin, ether, and litecoin. It has offices in Europe and the United States and is known in the digital currency community for having a platform that has deep liquidity in the U.S. dollar/bitcoin currency pair.
The company said it has also suspended deposits and withdrawals of digital currencies from the exchange.
"We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen," the company said.
"We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, bitfinex.com will be taken down and the maintenance page will be left up."
The company said it has reported the theft to law enforcement. It said it has not yet determined the value of digital currencies stolen from customer accounts.
Bitfinex also said as it goes through individual customer losses, it may need to settle open margin positions, associated financing, or collateral affected by the security breach.
Any settlements will be at the current market price as of 18:00 UTC (1800 GMT), the company said.
The attack on Bitfinex was reminiscent of a similar breach at Mt. Gox, a Tokyo-based bitcoin exchange forced to file for bankruptcy in early 2014 after hackers stole an estimated $650 million worth of customer bitcoins.
Bitcoin late on Tuesday was down 6.35 percent at $567.83 on the BitStamp platform.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Chris Reese) || BioViva Partners With Waves Blockchain Tokens Platform: Waves Platform is coming to the internet and is aiming to be a decentralized kickstarter, enabling asset-asset trading and supporting national currencies and crypto currencies like Bitcoin, Ethereum on the Waves blockchain at the same time MOSCOW, RUSSIA / ACCESSWIRE / June 28, 2016 / On June 20th a press conference was organised in Moscow by Alex Fork, a member of the board for Blockchain.community, the founder of Future Fintech, and a representative of the Deep Knowledge Life Sciences investment fund. Present were Elizabeth Parrish, CEO of BioViva; Avi Roy, representative of the Global Healthspan Policy Institute, Junior Partner of Deep Knowledge Life Sciences and President of Biogerontology Research Foundation (Oxford); and Sasha Ivanov, founder of the Waves blockchain platform. Elizabeth Parrish is the first human to have successfully undergone gene therapy to slow the ageing process and extend the period of healthy longevity - which, BioViva's biological markers indicate, has led to the rejuvenation of white blood cells by roughly 20 years. Being at the same time a humanitarian, an entrepreneur and an innovator, as well as a leading name in the field of genetic research, Elizabeth has opened the door on an era of self-experimentation and developed a new business model for medical procedures. Avi Roy is one of the founders of the Global Healthspan Policy Institute in Europe, which encompasses the world's leading universities and government agencies, as well as biotech and pharmaceutical companies. Avi is also the founding partner of the Personalized and Precision Preventive Medicine Clinic (P3 Clinic), which aims to bring together cutting edge diagnostics, prognostics and therapeutics to prevent the diseases of ageing. These companies together aim to extend healthy lifespans to 100 years or more. BioViva has set out ambitious plans to make healthy longevity available to everyone. Alex Fork invited Sasha Ivanov, founder of the blockchain project Waves platform , to promote a more dynamic development for BioViva's project in Russia and around the world. To these ends, a decision to issue shares on the basis of Waves' blockchain technology was made. Elizabeth Parrish has found support for her plans in Russia in the name of Blockchain.community and the Waves platform - a joint enterprise that will help accelerate the achievement of the set goals using advanced financial technologies. Sasha Ivanov founded the Waves project at the beginning of 2016 and has crowdfunded in excess of $16 million for the development of the project. The Waves blockchain platform allows the creation of digital stocks with minimum expenditure, quickly and efficiently, whilst taking into consideration current legislation. Such financial instruments expand the possibilities for investment into healthy longevity technologies, making them accessible to everybody and erasing the boundaries between countries and continents. For the first time ever, a biotechnology company will issue shares on the blockchain. Story continues For more information, please visit https://wavesplatform.com/ Contact Info: Name: Sasha Ivanov Email: rideon@wavesplatform.com Organization: Waves Platform Phone: +79253658312 SOURCE: Waves Platform View comments || Big Banks Team Up to Develop Blockchain Settlement System: Wall Street's increasing focus on digital currency technology has been affirmed yet again with the recent teaming up of a group of financial giants for the development of Utility Settlement Coin (USC). It is a digital cash model based on blockchain that aims to facilitate payment and settlement for global institutional financial markets.Swiss banking giant UBS Group AG UBS and London-based Clearmatics initiated USC last September “to validate the potential benefits of USC for capital efficiency, settlement and systemic risk reduction in global financial markets”. The successful conclusion of the first phase of this project led to the joining of Deutsche Bank AG DB, The Bank of New York Mellon Corp. BK, Banco Santander, S.A. SAN and brokerage ICAP to develop the concept further. The group also plans to undertake test in a real market environment.USC is a series of cash assets implemented on distributed ledger technology and is entirely backed by cash assets held at a central bank. With a version for each of the main currencies including USD, EUR, GBP and CHF, USC would be convertible at parity with a bank deposit in the related currency. According to a joint release, spending a USC will be equivalent to spending its real-world currency.The group of financial institutions will focus on the financial structuring of the USC and its implications in the broader market. Alongside they will remain engaged in discussions with central banks and regulators to ensure a regulation compliant and efficient framework within which the USC can be implemented.Hyder Jaffrey, Head of Strategic Investment & FinTech Innovation at UBS Investment Bank stated, "Digital cash is a core component of a future financial market fabric based on blockchain technologies.” He further added, "There are several digital cash models being explored across the Street. The Utility Settlement Coin is focused on facilitating a new model for digital central bank cash."Paul Maley, Managing Director, Institutional Client Group, Deutsche Bank noted, "As today's settlement and clearing is a process involving many institutions, it's vital that we collaborate with our peers to develop viable alternatives to current models, creating new digital capabilities for the financial services industry.”Blockchain BuzzBlockchain, the “digital ledger” or the underlying technology behind Bitcoin, has gained attraction for its significant potential to revamp the extensive and complex network of bank payments as well as settlements. While Bitcoin was one of the first cryptographic currencies that drew attention in 2009, several other cryptographic currencies are currently available including Novacoin, Namecoin and Dogecoin.Last December The Goldman Sachs Group, Inc. GS filed a patent application with the US Patent & Trademark Office for a new cryptocurrency called SETLcoin. While Citigroup Inc. C is currently working on the development of its own digital currency “Citicoin,” JPMorgan Chase & Co. JPM partnered with start-up firm Digital Asset Holdings earlier this year to launch a trial project that utilizes the blockchain technology.Bottom lineThe latest development tied with Blockchain platform crops up as banks are embracing technology and are continuously looking out for ways to restructure daily operations, update back-office functions and making huge investments for auto execution of transactions. While banks and regulators continue to explore prospects and benefits of digital currencies, concerns including security and impact on the broader financial system still lingers.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportJPMORGAN CHASE (JPM): Free Stock Analysis ReportBANK OF NY MELL (BK): Free Stock Analysis ReportCITIGROUP INC (C): Free Stock Analysis ReportUBS GROUP AG (UBS): Free Stock Analysis ReportDEUTSCHE BK AG (DB): Free Stock Analysis ReportBANCO SANTAN SA (SAN): Free Stock Analysis ReportGOLDMAN SACHS (GS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || 'Grumpy hold-outs' could sink Bitfinex recovery plan after Bitcoin theft: By Clare Baldwin HONG KONG (Reuters) - Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of $72 million in Bitcoin rests on two flawed pillars, according to lawyers. The Hong Kong-based exchange said on August 2 that hackers had stolen 119,756 bitcoins from some clients' accounts, the second-biggest such hack in dollar terms, and later said it would spread the losses across all its customers, whether or not they had been hacked or even held bitcoin. It said customers would forfeit 36 percent of their holdings and be given "BFX tokens" instead that could be redeemed by the exchange or converted to shares in its parent company iFinex. Both elements of the plan are open to legal challenge, lawyers said. Imposing losses on customers who were not hacked appears to go against the company's terms of service, said Ryan Straus, a Fenwick & West lawyer who advises financial technology companies on regulation and co-authored the U.S. chapter of a book on bitcoin law. The terms state "bitcoins in your multi-signature wallets belong to and are owned by you", which Straus said implied a special banking relationship with clients that the Bitfinex plan would breach. "The depository ... is obligated to return, on demand, the same monetary objects deposited," he said, quoting a line from his book. The exchange's tokens could also be problematic, said Zach Zweihorn, a lawyer at DavisPolk who specialises in U.S. securities and trading laws. The way they are currently being described - redeemable by the exchange or convertible to shares in iFinex - places them somewhere between a bond and a security and makes it highly likely that issuing them and trading them would require licences in the U.S. that Bitfinex doesn't have. "If they are issuing an equity interest in their parent company, I don't really think the fact that it's evidenced through an electronic token ... really changes the analysis of whether it's a security," said Zweihorn. The U.S. Securities and Exchange Commission did not return a request for comment. Bitfinex did not respond to requests for comment on either issue. "ROBBED" Bitfinex's website acknowledges there are "protocol level details" still to be worked out for the tokens, and that U.S. residents can sell but not buy them for the time being. "I feel like I was robbed," a 33 year-old investor who had a five-figure U.S. dollar amount on the platform told Reuters. He said he took a 36 percent "haircut" across all assets, including U.S. dollar reserves, and as a U.S. trader he couldn't properly deal in the IOU token. "Basically they took customers' funds in order to try to stay afloat. Nowhere in their terms of service did it mention that this was a possibility," said the user, who works in the financial services industry. Bitfinex is nevertheless hoping that traders will be patient and accept that they won't get a better deal if legal challenges force it into liquidation. "This is the closest approximation to what would happen in a liquidation context," it told traders in a blog post a week ago, while the tokens gave them some hope of ultimately recovering their losses. Traders will be aware of the fate of Tokyo-based crypto-currency exchange Mt Gox, which suffered the biggest bitcoin theft of all time in 2014, and consequently went bankrupt. Traders have not recovered any losses, and court proceedings are still ongoing. "People are afraid to see their assets completely frozen if they sue Bitfinex too early," said 28-year-old Nathan Bourgeois, who is based in France and moderates a 2,000-member traders' messaging group called Whaleclub under the username dr Helmut. He said he thought people would agree to the deal if there was a chance of getting some of their money back. But Patrick Murck, a fellow at Harvard University's Berkman Klein Center for Internet & Society, said the Bitfinex plan was unlikely to survive a legal challenge. "It might be a pyrrhic victory. You might still end up with less money," said Murck, who is also co-founder of the Bitcoin Foundation and its former general counsel, but the "odds are fairly low" that nobody will test it in court. "It takes one grumpy hold-out ... to blow the whole thing up, he said. (Reporting by Clare Baldwin; Additional reporting by Hera Poon and Tris Pan; Editing by Will Waterman) View comments || Exclusive - LexisNexis and start-up join to curb bitcoin money-laundering: By Jemima Kelly LONDON (Reuters) - A company that provides banks with anti-money-laundering controls has teamed up with a bitcoin security firm to try to curb nefarious uses of the digital currency, such as drug trafficking and terrorism financing. LexisNexis said the new service it has created with London-based startup Elliptic would bring bank-grade AML controls to bitcoin transactions, making the virtual currency more attractive to those who might want to use it for legitimate transactions LexisNexis, part of multinational analytics firm RELX Group, helps banks comply with AML regulation, using a database of 2.7 million global entities that could be involved in illicit transactions, such as those on sanctions and other watch-lists. It has shared that database with Elliptic, which monitors bitcoin transactions and can alert its clients - ranging from bitcoin exchanges to U.S. and European intelligence agencies - when money moves from bitcoin addresses that have been identified as bad actors. "This is a step towards making it (bitcoin) more mainstream and more acceptable," said Thomas Brown, of LexisNexis Risk Solutions. Bitcoin is a web-based digital currency that relies on complex algorithms to move money around quickly and anonymously with no need for a central authority to process transactions. That has made it attractive to a variety of users, including those who want to get around capital controls and those who support a currency that is free from government control for ideological reasons. But it has also attracted criminals, such as drug dealers and arms traffickers. "Today, if you see bitcoins transacting, you almost assume they're from someone who wants to be off the grid, or they're proceeds from illicit transactions," said Brown. Last month Elliptic said it was working with the Internet Watch Foundation to clamp down on the use of bitcoin for online child pornography. "The single biggest thing keeping mainstream financial services out of the (bitcoin) ecosystem is the inability to do bank-grade anti-money laundering controls," said Elliptic's head of business development, Kevin Beardsley. "The hope is that this will unlock a whole wave of companies being able to enter financial services with bitcoin." (Editing by Robin Pomeroy) View comments || JIM ROGERS: 'I'm not the only person who knows there's turmoil coming': (Jim RogersREUTERS/Brendan McDermid)
There's economic havoc on the horizon, but no safe haven, says legendary investor Jim Rogers.
"I'm not the only person who knows there's turmoil coming," Rogers said in an interview withReal Vision TVreleased Friday. "And people are looking for ways to protect themselves."
Rogers is worried about the increasing valuation of gold and the US dollar, as well as the US stock indexes, which he said are up despite most underlying stocks being down.
Meanwhile, many investors are seeking shelter in gold and the US dollar, but neither are safe, Rogers said.
"I own a lot of US dollars, though," he added. "Not because it's a safe haven, but because people think it's a safe haven. And when the world falls apart, people will put their money into the dollar. That's going to mean the dollar's going to go up."
In turn, the dollar's increase is going to hurt a lot of other currencies, Rogers said, including the euro, the UK pound, and the Chinese currency.
Rogers warned against seeing strength in the strong US stock market, which has continued to rise. "Everybody thinks, well, things are great because look at the S&P," he said. "Well, look under the S&P, and you would say, 'Oh, my God, look what's going on here.' We've got problems, and that's happening this year as well."
Rogers joins other notable investors who have raised concerns about potential market turmoil.
Stan Druckenmiller said earlier this year that investors should move their money to gold, and 36 South's Jerry Haworth, who runs a black swan fund, said he also expectschaos to come.
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• Fintech could be bigger than ATMs, PayPal, and Bitcoin combined || Coinbase gets $10.5 million investment from Bank of Tokyo, two others: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it received a $10.5 million investment from Bank of Tokyo Mitsubishi UFJ (BTMU), the bank's Mitsubishi UFJ Capital unit and Sozo Ventures as part of a strategic partnership involving its long-term expansion.
Coinbase, which is the world's largest bitcoin company and currently operates in 32 countries, does not operate in Japan just yet, though it runs an exchange in Singapore. The company said Japan is a big part of its international expansion.
"BTMU will be a strong partner for us both in Asia and globally," Sam Rosenblum, international expansion and banking lead at Coinbase, said in a phone interview with Reuters. "Japan will certainly be an important market for us and one that is pretty critical for the development of digital currencies."
Bitcoin is a digital currency that enables users to move money across the world quickly and anonymously without the need for third-party verification.
Rosenblum said San Francisco-based Coinbase has been working with BTMU for about a year on various projects and those collaborations have culminated in a strategic investment.
Sozo Ventures, which has dual headquarters in Silicon Valley and Tokyo, early on has been instrumental in bringing Twitter to Japan.
In order for Coinbase to do business in Japan, it would need regulatory approval from the country's Financial Services Agency.
Rosenblum said there is no timetable as to when Coinbase would launch operations in Japan.
Coinbase last year raised $75 million from a slew of investors. The BTMU investment is an individual transaction and not part of any funding round, Rosenblum said.
Coinbase currently has two trading platforms, one for retail investors and one for institutions. Over the last four weeks, trading volume for the two platforms totaled around $400 million, according to Adam White, Coinbase's vice president for business development.
Since bitcoin's inception in 2009, it has grown in popularity and price. Late on Thursday, bitcoin traded at $621.74 on the Bitstamp platform. So far this year, the digital currency is up 44.2 percent.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Leslie Adler)
[Random Sample of Social Media Buzz (last 60 days)]
#TrinityCoin #TTY $ 0.000007 (0.38 %) 0.00000001 BTC (-0.00 %) || #569 ImperialCoin BTC:฿0.00 USD:$0.00000178 Market Cap:$ 281.5743286 Supply:157,865,000 IPC http://dlvr.it/LgM1BL || $672.00 #bitfinex;
$670.54 #itBit;
$672.29 #GDAX;
$658.00 #btce;
$668.35 #OKCoin;
$673.04 #bitstamp;
#bitcoin news: http://bit.ly/1VI6Yse || #bitcoin Big Banks Band Together to Launch 'Settlement Coin': Four banks have reportedly partnered on a ... http://cur.lv/11moqb #btc || 1 KOBO = 0.00001989 BTC
= 0.0133 USD
= 3.8969 NGN
= 0.1914 ZAR
= 1.3493 KES
#Kobocoin 2016-07-19 21:00 pic.twitter.com/4afoSjPqrH || 1 BTC Price: BTC-e 550 USD Bitstamp 544.33 USD Coinbase 550.00 USD #btc #bitcoin 2016-08-02 23:30 pic.twitter.com/vYQUkk8zNq || #583 Hundredcoin BTC:฿0.00 USD:$0.00000211 Market Cap:$ 66.812336384 Supply:31,734,400 HUN http://dlvr.it/LnBj09 || Comment gagner de l'argent avec le bitcoin ? http://fb.me/4fzbDuis9 || #BTA Price: Bittrex 0.00001351 BTC YoBit 0.00001341 BTC Bleutrade 0.00001170 BTC #BTAprice 2016-08-01 22:00 pic.twitter.com/FYV7pddLBe || $656.84 #bitfinex;
$659.30 #GDAX;
$656.00 #bitstamp;
$650.60 #btce;
$658.11 #itBit;
$655.93 #OKCoin;
#bitcoin news: http://bit.ly/1VI6Yse
|
Trend: up || Prices: 569.95, 573.91, 574.11, 577.50, 575.47, 572.30, 575.54, 598.21, 608.63, 606.59
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-04-14]
BTC Price: 424.28, BTC RSI: 56.67
Gold Price: 1225.00, Gold RSI: 46.91
Oil Price: 41.50, Oil RSI: 62.77
[Random Sample of News (last 60 days)]
Your first trade for Friday: The "Fast Money" traders delivered their final trades of the day.
Tim Seymour was a seller of the iShares MSCI Emerging Markets ETF(NYSE Arca: EEM).
Steve Grasso was a seller of Freeport-McMoRan(FCX).
Brian Kelly was a buyer of the iShares Silver Trust(NYSE Arca: SLV).
Guy Adami was a buyer of Coca-Cola(KO)for the second day in a row.
Trader disclosure: On March 10, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures. Steve Grasso is long AAPL, BA, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX sold BAC firm is long OXY, BP, CVX, RIG, FCX kids own EFA, EFG, EWJ, IJR, SPY. Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, KO, MCD, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM.
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• Personal Finance || University of California notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || Japan looks to kickstart 'fintech' revolution: By Thomas Wilson TOKYO (Reuters) - A laggard in embracing the 'fintech', or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals' cash deposits. Strict regulation, easy access to credit due to rock-bottom interest rates, and weak demand for innovative financial services from a risk-averse population that still prefers cash to credit cards, have strangled fintech's advance in Japan. Fintech ventures - usually start-ups leveraging technology from cloud data storage to smartphones to provide loans, insurance and payment services - raised $2.7 billion in China last year, and over $1.5 billion in India, according to CB Insights data. Ventures in the United States attracted investment of around $7.4 billion. In comparison, investment in Japanese ventures reached only around $44 million in the first nine months of 2015. Now, Japan's financial industry regulator hopes relaxed rules on investing in financial ventures, and a new system for regulating virtual currency exchanges will pass through parliament by May - a first step in kickstarting the fintech revolution in the world's third-biggest economy. "The law changes aren't a goal, but a first step," Norio Sato, a senior official at the Financial Services Authority (FSA), told Reuters. "Fintech will have a big impact on financial services." The changes, which will allow banks to buy stakes of up to 100 percent in non-finance-related firms, will free up Japan's three megabanks to enter into tie-ups with fintech ventures developing services including robotic investment advisory and blockchain, the decentralised ledger technology behind the bitcoin digital currency. Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group have said they are eyeing such investments, having previously been restricted to holding stakes of only 5-15 percent in start-ups. Story continues Under pressure from weak loan demand, the megabanks see an opportunity to earn money through fintech, but are also aware of its potential to disrupt traditional business models. GAME CHANGER The unpromising fintech environment in Japan - which was blindsided by the high-profile collapse of the Mt. Gox bitcoin exchange in 2014 when hackers stole an estimated $650 million worth of the digital currency - has seen some entrepreneurs go overseas for funding. Junichi Horiguchi, co-founder and CEO of bitcoin service provider Zerobillbank Ltd, established his start-up in Tel Aviv last year to take advantage of Israel's advanced technology industry. Investment in fintech start-ups by global banks and tech giants including Barclays, Google and Facebook is far more common in Israel than in Japan, he said. "It's completely different over there," Horiguchi told Reuters. "Every month there are open innovation contests and (start-up) accelerator programmes." Sales at Japan's fintech start-ups could jump to over half a billion dollars by 2020 as the use of technology such as blockchain increases, Yano Research Institute said in a report. The new rules the FSA is promoting on virtual currency exchanges could make Japan one of the first countries to regulate bitcoin at a national level. "Japan hasn't previously been enthusiastic about fintech," said Sato. "But creating these rules this fast could gain the world's attention." Bitcoin entrepreneurs, often reliant on investment for growth, have called for clearer regulation and will welcome the latest changes, said Yuzo Kano, founder and CEO of bitcoin exchange bitFlyer Inc, and head of the Japan Authority for Digital Assets, a lobbying group. "The establishment of the law is extremely surprising," Kano said, referring to how quickly the FSA had drafted the law. "It's set to be very successful." ($1 = 112.95 yen) (Reporting by Thomas Wilson; Editing by Ian Geoghegan) || 'BLATANTLY ILLEGAL': 17 newspapers slam ex-Mozilla CEO's new ad-blocking browser: (Brave)Brendan Eich, CEO of Brave.
A group of the biggest US newspaper publishers — including Dow Jones, The Washington Post, and The New York Times Co. — have cosigned what they are calling a "cease and desist" letter (read it in full below) sent to the former Mozilla CEO's new browser company.
Brendan Eich's new browser, Brave,announced its launch early this year. The browser — available on iOS, Android, OS X, Windows, and Linux — has ad-blocking software baked into it, which blocks all ads by default and replaces them with its own ads that it says load quicker and"protect data sovereignty [and] anonymity"of users by blocking tracking pixels and cookies.
With Brave, publishers get around 55% of revenues: 15% go to Brave, 15% go to the partner that serves the ads, and 10% to 15% goes back to the user, who can choose to make bitcoin donations to their favorite publishers in order to get an ad-free experience on their websites,Eich told Business Insider in January.
But the 17 newspaper-publishing companies that cosigned the letter sent to Eich on Thursday say that this business model is "blatantly illegal" because they claim Brave is profiting from the "$5 billion" a year the industry spends on funding journalism.
The publishers argue that Brave's advertising-replacement plan would constitute copyright infringement, a violation of the publishers' terms of use, unfair competition, unauthorized access to their sites, and a breach of contract.
The letter compares Brave's business model to a company simply stealing their articles and pasting them on their own websites for profit.
Eich provided a lengthy statement in response to the letter (which you can read in full below.)
In it, he said: "The NAA sent a letter to Brave Software that is filled with false assertions. The NAA has fundamentally misunderstood Brave. Brave is the solution, not the enemy."
Not only do the publishers "expressly decline to participate in any way in Brave's supposed business model," but they threaten that they are "ready to enforce all legal rights" to protect their trademarks and copyrighted content.
The publishers, all of which are members of the Newspaper Association of America and together represent more than 1,200 newspapers in the US, threaten that they will seek damages of up to "$150,000 per work" that Brave monetizes.
This isn't the first time Brave has drawn ire from the media and advertising community.
In January, the CEO of the Interactive Advertising Bureau, Randall Rothenberg, ripped into Brave and other ad blockers in a speech at the US internet-advertising trade body's annual leadership conference.
Of Brave, hesaid:
The latest ad-blocking company is a Web browser startup called “Brave.” It was launched by former Mozilla CEO Brendan Eich, whose last major investment was in banning gay marriage in California. His business model not only strips advertisements from publishers’ pages — it replaces them with his own for-profit ads.
THIS is the true face of ad blocking. It is the rich and self-righteous, who want to tell everyone else what they can and cannot read and watch and hear — self-proclaimed libertarians whose liberty involves denying freedom to everyone else.
The ad-block profiteers are building for-profit companies whose business models are premised on impeding the movement of commercial, political, and public-service communication between and among producers and consumers. They offer to lift their toll gates for those wealthy enough to pay them off, or who submit to their demands that they constrict their freedom of speech to fit the shackles of their revenue schemes.
They may attempt to dignify their practices with such politically correct phrases as “reasonable advertising,” “responsible advertising,” and “acceptable ads”; and they can claim as loudly as they want that they seek “constructive rapport” with other stakeholders. But in fact, they are engaged in the techniques of The Big Lie, declaring themselves the friends of those whose livelihoods they would destroy, and allies to those whose freedoms they would subvert.
A Medianomics survey of 42 "high traffic" websites in the US published earlier this monthfound that 48% of respondents were "somewhat likely" and 36% were "definitely/very likely" to support taking collective legal action against ad-blocking companies.
Dear Mr. Eich:
Brave Software, Inc. (“Brave”), a company you founded, has announced that it intends to launch a browser and mobile applications that will display publishers’ content but replace publishers’ advertising with advertising that Brave sells for its own profit. You are hereby notified that Brave’s plan to replace our clients’ paid advertising content with its own advertising violates the law, and the undersigned publishers intend to fully enforce their rights.
Your plan to use our content to sell your advertising is indistinguishable from a plan to steal our content to publish on your own website. Your public statements demonstrate clearly that you intend to harness and exploit the content of all the publishers on the Web to sell your own advertising. “We can provide access to all of the top publishers through a single channel with guaranteed ‘share of voice,’” Brave’s website claims. “This combination of better targeting and first-look access to all of the premium placements our users browse is something that no one else can provide.” There’s a simple reason “no one else” is purporting to “provide” all the content on the Web in one place for its own profit, without investing a penny in creating that content: everyone else has recognized that it would be blatantly illegal for one company to hijack all the content on the Web for its own benefit.
We publish some of the most highly valued and widely read sites on the Web. Our sites and mobile applications provide news reporting, photojournalism, video content and feature writing that is researched, reported, edited, and produced at extraordinary cost. Our industry spends more than $5 billion per year on reporting in the United States alone. We distribute that reporting online for free or at highly subsidized rates, in no small part due to revenue from online ads.
Your apparent plan to permit your customers to make Bitcoin “donations” to us, and for you to donate to us some unspecified percentage of revenue you receive from the sale of your ads on our sites, cannot begin to compensate us for the loss of our ability to fund our work by displaying our own advertising. We expressly decline to participate in any way in Brave’s supposed business model. We explicitly reject any compensation or consideration Brave plans to offer to us as part of its ad-blocking and ad-replacing scheme, and we refuse to accept any “site wallet” that you propose to create for our supposed benefit. In addition, you are not authorized to use our names, trademarks and logos in any way in connection with the promotion or operation of your business.
We stand ready to enforce all legal rights to protect our trademarks and copyrighted content and to prevent you from deceiving consumers and unlawfully appropriating our work in the service of your business. Unauthorized republication of our copyrighted content to support Brave’s illegal advertising model violates protected rights of publishers under the Copyright Act and other laws. We reserve the right to seek all remedies for this infringement, including but not limited to statutory damages of up to $150,000 per work pursuant to 17 U.S.C. § 504. Brave’s use of publishers’ trademarks to sell its own advertising will confuse consumers, infringe upon publishers’ exclusive rights in their brands, and dilute our highly distinctive marks. We believe your planned activities will also constitute unfair competition and misappropriation under relevant federal, state and common law. Brave’s unauthorized activities involving our content and websites also violates our terms of use. By engaging in Brave’s plan of advertising replacement, Brave is liable for breach of contract, unauthorized access to our websites, unfair competition, and other causes of action.
Very truly yours,
ADVANCE LOCAL Vincent LaSpisa, Esq., Sabin, Bermant & Gould LLP, One World Trade Center, 44th Floor New York, New York 10007-2915
BH MEDIA GROUP Scott Searl, Esq., Senior Vice President and General Counsel, BH Media Group, 1314 Douglas Street, Suite 1500 Omaha, Nebraska 68102
CALKINS MEDIA INCORPORATED Sally A. Buckman, Esq., LermanSenter PLLC, 2001 L Street, N.W., Suite 400 Washington, D.C. 20036
DIGITAL FIRST MEDIA Marshall W. Anstandig, Esq., Senior Vice President and General Counsel, Digital First Media, 4 North 2nd Street, Suite 800 San Jose, California 95113
DOW JONES & COMPANY, INC., Jason P. Conti, Esq., Senior Vice President and Interim General Counsel, Dow Jones & Company, Inc., 1211 Ave of the Americas New York, New York 10036
GANNETT CO., INC., Barbara W. Wall, Esq., Senior Vice President, Chief Legal Officer, Gannett Co., Inc., 7950 Jones Branch Drive McLean, Virginia 22107
GATEHOUSE MEDIA/NEW MEDIA INVESTMENT GROUP, Polly Grunfeld Sack, Esq., Senior Vice President, General Counsel, GateHouse Media, 175 Sully’s Trail, 3rd Floor Pittsford, New York 14534
JOURNAL MEDIA GROUP, Hillary Ebach, Esq., Vice President and General Counsel, Journal Media Group, Inc., 333 W State Street Milwaukee, Wisconsin 53203
LANDMARK MEDIA ENTERPRISES, LLC, Guy R. Friddell, III, Esq., Executive Vice President and General Counsel, Landmark Media Enterprises, LLC, 150 Granby Street Norfolk, VA 23510
LEE ENTERPRISES INCORPORATED, Astrid Garcia, Esq., Lee Enterprises Incorporated, 201 N. Harrison St., Suite 600 Davenport, Iowa 52801
THE MCCLATCHY COMPANY, Juan Cornejo, Esq., Assistant General Counsel, The McClatchy Company, 2100 Q Street Sacramento, California 95816-6899
MORRIS PUBLISHING GROUP, LLC, J. Noel Schweers III, Esq., General Counsel, Morris Publishing Group, LLC, 725 Broad Street Augusta, Georgia 30901
THE NEW YORK TIMES COMPANY, Ken Richieri, Esq., Executive Vice President and General Counsel The New York Times Company, New York, New York 10018
NEWSDAY, LLC, Karen Au Claro, Esq., Senior Vice President, Law, Newsday, LLC, 235 Pinelawn Road Melville, New York 11747 
SCHURZ COMMUNICATIONS, INC., John Smarrella, Esq., Barnes & Thornburg, LLP, 100 North Michigan Street South Bend, Indiana 46601-1632
TRIBUNE PUBLISHING COMPANY, Karen Flax, Esq., Vice President and Deputy General Counsel, Tribune Publishing Company, 435 North Michigan Avenue Chicago, Illinois 60611
THE WASHINGTON POST, Jay Kennedy, Esq., Vice President and General Counsel, The Washington Post, 1301 K Street, NW Washington, D.C. 20071
The NAA sent a letter to Brave Software that is filled with false assertions. The NAA has fundamentally misunderstood Brave. Brave is the solution, not the enemy.
The NAA's letter to Brave Software asserts that any browser that blocks and replaces ads on the browser user's device performs "unauthorized republication" of Web content. This is false on its face, since browsers do not "republish", serve, syndicate, or distribute content across the Internet or to any computer other than the one on which they run.
Browsers are the end-point for secure connections, the user agent that actually mediates and combines all the pieces of content, including third-party ads and first-party publisher news stories. Browsers can block, rearrange, mash-up and otherwise make use of any content from any source. If it were the case that Brave's browsers perform "republication", then so too does Safari's Reader mode, and the same goes for any ad-blocker-equipped browser, or the Links text-only browser, or screen readers for the visually impaired.
The NAA letter also falsely asserts that Brave will share an "unspecified percentage of revenue", when our revenue share pie chart has been public and fixed from ourfirst preview release in January.We give the lion's share (pun intended), up to 70% of ad revenue, to websites, keeping only 15% for ourselves and paying 15% to our users.
We sympathize with publishers concerned about the damage that pure ad blockers do to their ability to pay their bills via advertising revenue. However,this problem long pre-dates Brave. We categorically reject the claim that browsers perform "republication", and we repeat that Brave has a sound and systematic plan to financially reward publishers. We aim to outperform the invasive third-party ads that we block, with our better, fewer, and privacy-preserving ads.
Finally, we note that malvertisement has gotten onto the websites of the New York Times and the BBC recently through the ill-designed, unregulated, and poorly-delegated third-party advertising technology ecosystem. Truly, this tracker-based ad-tech ecosystem is what is damaging the brand value of content publishers and driving users to adopt ad-blocking software. Brave blocks and replaces only third-party ads and trackers. Our system thus actually repairs the damage that publishers have carelessly allowed their ad partners (and partners' partners, to the seventh degree of separation) do to their trademarked brands and names.
Make no mistake: this NAA letter is the first shot in a war on all ad-blockers, not just on Brave. Though theNAA never reached out to us, we would be happy to sit down with them for an opportunity to discuss how the Brave solution can be a win win. We will fight alongside all citizens of the Internet who deserve and demand a better deal than they are getting from today's increasingly abusive approach to Web advertising.
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• 1 in 10 people in the US uses an ad blocker || Canada's TSX hires Bitcoin guru, studies currency's technology: By Ethan Lou
TORONTO (Reuters) - The Toronto Stock Exchange has hired a Bitcoin entrepreneur as its first chief digital officer as it explores the capabilities of blockchain, the technology behind the virtual currency, a senior executive at TSX parent TMX Group said on Thursday.
Anthony Di Iorio, who has founded several companies based on the technology, filled the role at Canada's largest stock exchange in January, Jean Desgagne, chief executive of TMX's Global Enterprise Services, said in an interview.
Stock exchanges are embracing blockchain, which allows Bitcoin users to conduct secure transactions without middlemen, as they seek to diversify and boost profit margins. When used to issue securities, the technology could potentially remove the need for clearing houses.
"Blockchain is a disruptive technology," Desgagne said, noting that major changes could result from its potential adoption. "We're focused on it, we're going to learn."
In January the Australian stock exchange said it had enlisted a blockchain startup to develop a new trade settlement system.
Nasdaq in the United States used the technology last year to issue securities to an unidentified private investor. Last month, Nasdaq said it was developing a blockchain-based shareholder voting system for its Estonian stock exchange.
Blockchain could make operations "better, faster, cheaper," Desgagne said, but noted that, if adopted, the technology would be only one element in TMX's digital operations.
Di Iorio and Desgagne declined to discuss details about potential blockchain projects at TSX.
Di Iorio is the founder of the Bitcoin Alliance of Canada and a co-founder of Ethereum, a blockchain-based computing platform.
(Reporting by Ethan Lou; Editing by Euan Rocha and Richard Chang) || Digatrade Executes Bitcoin Debit Card Development Contract: Digatrade Bitcoin Debit Card Set to Launch
VANCOUVER, BC / ACCESSWIRE / February 25, 2016 /BITX FINANCIAL CORP (BITXF) and its 100% owned and operated digital asset-currency exchange DIGATRADE™ (digatrade.com) today announced the execution of a technology development agreement with ANX Technologies. Under terms of the agreement Digatrade will have a bitcoin debit card developed by ANX Technologies, one of the world's first financial technology companies to have developed a bitcoin debit card and one of the largest distributors of debit cards in the market offering customers as well as businesses a fast and reliable payment solution.
The Digatrade debit card will provide a gateway between digital assets and traditional payments processing. The reloadable debit card can be used to make purchases in any retail, point-of-sale devices or withdraw cash from ATMs that support the global payment network. Digatrade customers will be able to add funds to their debit card via the Digatrade exchange platform and will empower digital assets to be accepted worldwide.
More information will be made available as it materializes.
ABOUT DIGATRADE:
DIGATRADE is a global digital asset-currency exchange located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Bit-X Financial Corp which is publically listed on the OTC.QB under the trading symbol BITXF. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Digatrade has now become a global platform offering its customers instant card-based transactions worldwide.
CORPORATE CONTACT INFORMATION:
Brad Moynes, CEOBit-X Financial CorpDigaTrade.com838 West Hastings Street, Suite 300Vancouver, BC V6C-0A6CanadaTel: +1(604) 200-0071Fax: +1(604) 200-0072www.digatrade.com
Media inquiries:
press@digatrade.com
Forward-Looking Information
This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE:Bit-X Financial Corp || Your first trade for Tuesday: The "Fast Money" traders delivered their final trades of the day.
Tim Seymour was a seller of the iShares MSCI Brazil Capped ETF(NYSE Arca: EWZ).
Brian Kelly was a buyer of the iShares Silver Trust(NYSE Arca: SLV).
Karen Finerman was a buyer of Golar LNG(GMLP).
Guy Adami was a buyer of Marathon Oil(MRO).
Trader disclosure: On February 29, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long AAPL, BAC, BBRY, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, KO, MCD, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM. Brian Kelly is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures. Karen Finerman is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Personal Finance || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK, March 18 (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors. The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund. The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group. Story continues It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data. Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin. "A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart." Some investment managers say having bitcoin in portfolios has helped performance. ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF. Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF. For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains. For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said. (Editing by David Gaffen and Matthew Lewis) View comments || Bitcoin Investing Improved Last Quarter: While Bitcoin may not have ended 2015 on a strong note, things could be turning around for the cryptocurrency.
For example, Q4 was "surprisingly anemic," but the first quarter has seen $160 million in investments, according toMattermark, citing CoinDesk figures.
"Bitcoin had its best fundraising quarter in a year," Mattermark's Alex Wilhelm said.
"I'm not sure that the industry will ever beat the first quarter of 2015, when more than $200 million went into bitcoin firms, including huge sums into Coinbase and 21. Still, closing well north of the $100 million mark is a big step up from every other quarter recorded last year," Wilhelm commented.
Related Link:10 Of This Year's Hottest Financial Buzzwords
"In fact, it appears that the first quarter of 2016 was the second most active period in terms of total dollars raised for bitcoin firms in at least the last two years."
Looking Ahead
Based upon the transaction volume over the last year and the improvement over last quarter, it's probable that bitcoin may be making its way back into investors' favor. "In the last year, transaction volume across bitcoin – to pick a single metric – has roughly doubled. That's not the same pace of growth that the cryptocurrency saw in its infancy, but it is material," Wilhelm explained.
"Combine that statistic with an increasingly stable price and continued investment and bitcoin look just fine."
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Crisis in Bitcoin and the Rise of Blockchain: Remember the hype over bitcoin? The crypto-currency that so tantalized techies and excited investors is today in a sorry state: Its core supporters are at war with each other and ordinary consumers still don’t care about this supposedly revolutionary form of money. But that’s only half of the story. The other half is about the remarkable rise of blockchain, the core technology underlying bitcoin that is enjoying unprecedented adoption by banks and big business. This development--the fall of bitcoin and the rise of blockchain--has accelerated in recent months, and it has big implications for those who have sunk hundreds of millions of dollars into these technologies. Here’s the latest on the story of bitcoin, which has turned out far differently than many imagined. How We Got Here Flash back five years, the bitcoin scene was an exciting place to be. A motley mix of coders, libertarians, and get-rich-quick hucksters latched onto the promise of bitcoin founder Satoshi Nakamoto’s new distributed, tamper-proof money system and ledger run from millions of computers. The ledger provided an indelible record of near-anonymous financial transactions in offering a global payment platform to ordinary merchants, drug dealers, and everyone in between. The early bitcoin buzz soon exploded, and the currency’s value briefly soared to $1,200 . The mainstream news media caught onto the story while venture capitalists lined up to fund any business with “bit” in its name. Meanwhile, businesses from Virgin Galactic to the NBA’s Sacramento Kings realized they could get a heap of free press just by announcing they would accept bitcoin. The currency never caught on, however. Despite all the startups offering wallets and other tools to popularize the payment technology, average consumers never took to bitcoin--even as they did adopt another person-to-person mobile payment platform, known as Venmo , in droves. So what happened? One problem is that bitcoin never shook its sordid side. While there is nothing intrinsically evil about bitcoin, its most famous adopters have always been a rogue’s gallery of fraudsters, prostitutes, dark web drug lords , and Ponzi schemers . Even some members of bitcoin’s governing foundation, who sought to make the currency respectable, are on the lam or in jail . Story continues This rogue reputation certainly didn’t help bitcoin. But it wasn’t the crypto-currency’s biggest problem. Instead, the main reason bitcoin didn’t catch on is because it’s just not practical. Even if you can find merchants who accept it, the process involves exotic apps, currency transactions, and a verification process that takes minutes to get the okay. Compare that to swiping a credit card, and you see the problem. In recent months, bitcoin’s adoption problem has suddenly worsened. Meanwhile, big banks are finding they can use bitcoin’s best feature and leave the currency itself behind. Get Data Sheet , Fortune 's technology newsletter. The Current Crisis and the Rise of Blockchain “Bitcoin’s nightmare scenario has come to pass,” read a headline this week from tech site, The Verge. That’s a pretty fair way to describe a recent schism within the bitcoin developer community--the collection of gnomes who decide on the protocols and computer code under the hood. The Verge report offers a good run-down of the technical specifics but, for present purposes, they can be summed up like this: the bitcoin community failed to agree on a system upgrade, which means the ledger’s infrastructure faces a growing backlog, and it now takes over 40 minutes to confirm a transaction. As a result, bitcoin is less practical than ever and merchants (the few who accepted it in the first place) are bolting. This schism deals a further blow to bitcoin’s hopes of ever becoming a mainstream currency. This is a setback for the bitcoin community, but here’s the kicker: it doesn’t really matter. That’s because the true value of bitcoin is not the currency itself. Instead, it’s the blockchain technology underneath it. Banks and other big businesses have already reaped the benefit of this technology. As Fortune reported in December, IBM , Intel , JP Morgan , and several other big banks are betting on the blockchain’s ledger system. As with bitcoin, the system requires a set of diffuse computers to prove that a transaction has occurred. Once a confirmation occurs, it’s recorded in a common ledger and cannot be reversed. Why is this such a big deal? It has to do with record keeping. The idea of a tamper-proof ledger created by computers is so significant because it could let a number of industries--especially banking, brokerages, and law firms--overhaul the way they do business. Instead of relying on slow and cumbersome settlement systems to notarize and record documents, they can let a blockchain do it for them. “The clearing and settlement will be done in a matter of seconds. An efficiency comes with this that is a pretty significant force multiplier,” explains Jeff Garzick, a former bitcoin developer who recently launched a consultancy called Bloq that advises banks and others how to deploy blockchain technology. Garzick and his partner Matt Rosack expect the financial industry will begin using the blockchain for stock and loan settlements as soon as the end of this year. Likewise, they think banks’ transactions at the discount window of the Federal Reserve will soon be recorded on a blockchain. And that’s just the beginning. Garzick and Rosack say the Big Four auditing firms will soon have a blockchain-based transaction feed that will be visible to regulators, who have been studying the potential of blockchain technology for years. The Future: Blockchain Without Bitcoin Even for those familiar with crypto-currency, it can be hard to get one’s head around just how the blockchain can operate without bitcoin. The reason is that bitcoin supplies the financial incentive for people around the world, known as miners, to operate the ledger in the first place. For more about bitcoin, watch our video : In return for devoting their computers to running the blockchain (which publishes the ledger), they receive a reward in the form of a bitcoin that can be spent online or exchanged for traditional currency. In the absence of such an incentive, how do the banks plan to develop the blockchain? The answer is they are building their own version of blockchain and running it themselves. As Garzick explains, this process involves taking the core protocol underlying bitcoin and then stripping off all the “mining” and compensation functions. He says the miners are an interesting way to creating a ledger, but they are not essential in the case of a “private chain,” like the one the banks are developing. “The mining is a really elegant software solution that equally distributes who is going to validate the next set of bitcoin transactions,” Garzick says. “ A private chain replaces the entire trust-less aspect with a more private closed network of participants.” In practice, this will involve the banks rejecting a global federation of miners in favor of a handful of trusted verification partners within their own network--a process already underway . For instance, a group of 15 banks might agree that the ledger becomes official once computers from seven group members agree to record a set of transactions. So what happens to bitcoin in this scenario? As The Economist noted in a recent feature , it may become no more than a novelty or a historical curiosity. If this is the case, the venture capitalists who made big bets on consumer bitcoin startups like Coinbase and Xapo could see a pool of wealth vanish. Ditto the U.S. government, which has seized a large pile of bitcoins in high-profile drug investigations. For now, that worst case scenario for bitcoin hasn’t come to pass yet. Despite the recent convulsions in the developer community, its price has held fairly steady around $400 for months. It may find niche roles as a currency, such as for foreign remittances. Meanwhile, bitcoin still has defenders such as Jeremy Allaire, a successful entrepreneur who raised over $60 million for his startup, Circle, a money transfer service for consumers using bitcoin behind the scenes. Allaire says there is still time for bitcoin to break through in place of services like Venmo. “Venmo is another AOL--I don't want another walled garden. I want the Google of money,” Allaire said in a recent interview. “We've gone from a world where everyone is in denial about the tech and its usefulness. Now traditional financial institutes say, ‘We love the technology but we want to control it with our own private technology.’ That's not practical.” Other defenders include my former colleague at Fortune , Dan Roberts, who said the bull case outstrips the bear case for bitcoin in 2016. Still, based on recent developments, a bitcoin resurgence looks like a long shot. When the final history of bitcoin is written, the currency itself is likely to be just a colorful footnote in the tale of the emergence of a powerful new blockchain technology. See original article on Fortune.com More from Fortune.com This Could Kill the World's Most Popular Cryptocurrency Securing the City of the Future with Bitcoin Global Regulators Now Eyeing Fintech Through Machine Learning, IBM Braintrust Sees Better Days Ahead Here's Why Europe Is About to Crack Down on Bitcoin Anonymity
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 414.06$ $BTCUSD $btc #bitcoin 2016-03-30 19:00:07 EDT || In the last hour, 4 people won 0.20 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || LIVE: Profit = $455.61 (0.26 %). BUY B424.74 @ $418.00 (#BTCe). SELL @ $421.49 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || Liquid Bitcoin || @piramida @PurseIO what is your Bitcoin address? I'll send you money and set a timer on long it takes until the first confirmation hits. || Will #BankofAmerica ( $BAC) Defend their Bitcoin-related Patents?. Read more: https://www.owler.com/iaApp/article/56d2155ce4b0ec7c6a3c96e0.htm?utm_source=twitter&utm_medium=social&utm_campaign=sectorNews_DiversifiedFinancialServices … || One Bitcoin now worth $421.69@bitstamp. High $422.84. Low $420.00. Market Cap $6.496 Billion #bitcoin || http://EasyBitcoinFaucet.com : Free bitcoin faucet with bonuses. Get free bitcoins now! https://shar.es/1CsKGr via @sharethis || #EuroCoin #EUC $ 0.000085 (24.24 %) 0.00000020 BTC (24.99 %) || #bitcoin Show /r/bitcoin: Crypto Currency Coin Market Cap for Slack: submitted by /u/rea... http://bit.ly/1QMelgB #crypto #anarchy
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Trend: up || Prices: 429.71, 430.57, 427.40, 428.59, 435.51, 441.39, 449.42, 445.74, 450.28, 458.55
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Institutional Investment in Crypto: Top 10 Takeaways of 2019: Thispost is part of CoinDesk’s 2019 Year in Review, a collection of 100+ op-eds,interviews and takes on the state of blockchain and the world. Scott Army isthe founder and CEO of digital asset manager Vision Hill Group. The followingis a summary of the report:“An Institutional Take on the 2019/2020 Digital Asset Market”.
No. 1: There’s bitcoin, and then there’s everything else.
Theindustry is currently segmented into two main categories: Bitcoin andeverything else. “Everything else” includes: Web3 innovation, DecentralizedFinance (“DeFi”), Decentralized Autonomous Organizations, smart contractplatforms, security tokens, digital identity, data privacy, gaming, enterpriseblockchain or distributed ledger technology, and much more.
Related:For Quick Wins, Focus on Decentralization Within Existing Businesses
Non-crypto natives are seldom aware that there are multiple blockchains. Bitcoin, by virtue of it being the first blockchain network brought into the mainstream and by being the largest digital asset by market capitalization, is often the first stop for many newcomers and likely will continue to be for the foreseeable future.
No. 2: Bitcoin is perhaps market beta, for now.
In traditional equity markets, beta is defined as a measure of volatility, or unsystematic risk an individual stock possesses relative to the systematic risk of the market as a whole. The difficulty in defining “market beta” in a space like digital assets is that there is no consensus for a market proxy like the S&P 500 or Dow Jones. Since the space is still very early in its development, and bitcoin has dominant market share (~68 percent at the time of writing), bitcoin is often viewed asthe obvious choice for beta, despite the drawbacks of defining “market beta” as a single asset with idiosyncratic tendencies.
Bitcoin’ssize and its institutionalization (futures, options, custody, and clearregulatory status as a commodity), have enabled it to be an attractive firststep for allocators looking to get exposure (both long and short) to thedigital asset market, suggesting that bitcoin is perhaps positioned to be digitalasset market beta, for now.
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No. 3: Despite slow conversion, substantial progress was made on growing institutional investor interest in 2019.
Education,education, education. Blockchaintechnology and digital assets represent an extraordinarily complex asset class– one that requires a non-trivial time commitment to undergo a proper learningcurve. While handfuls of institutions have already started to invest in thespace, a very small amount of institutional capital has actually made it in(relative to the broader institutional landscape), gauged by the size of theasset class and the public market trading volumes. This has led many torepeatedly ask: “when will the herd actually come?”
The reality is thatinstitutional investors are still learning – slowly getting comfortable – andthis process will continue to take time. Despite educational progress through 2019, someinstitutions are wondering if it’s too early to be investing in this space, andwhether they can potentially get involved in investing in digital assets in thefuture and still generate positive returns, but in ways that are de-riskedrelative to today.
Despite a few otherchallenges imposed on larger institutional allocators with respect to investingin digital assets, true believers inside these large organizations areemerging, and the processes for forming a digital asset strategy are eithergetting started or already underway.
No. 4: Long simplicity, short complexity
Another trend weobserved emerge this year was a shift away from complexity and towardsimplicity. We saw significant growth in simple,passive, low-cost structures to capture beta. With the lowest-friction investoradoption focused on the largest liquid asset in the space – bitcoin – theproliferation of single asset vehicles has increased. These private vehicles are a result ofdelayed approval of an official bitcoin ETF by the SEC.
In addition to theGrayscaleBitcoin Trust, other bitcoin-focusedproducts this year include the launch ofBakkt, the launch of Galaxy Digital’stwo newbitcoin funds, Fidelity’sbitcoin productrollout, TD Ameritrade’s bitcoin tradingserviceon Nasdaq via its brokerage platform, 3iQ’srecentfavorable rulingfor a bitcoin fund and Stone Ridge Asset Management’srecent SEC approvalfor its NYDIG Bitcoin Strategy Fund, based on cash-settled bitcoinfutures.
We also observed a growinginstitutional appetite for simpler hedge fund and venture fund structures. Forthe last several years, many fundamental-focused crypto-native hedge fundsoperated hybrid structures with the use of side-pockets that enabled a barbellstrategy approach to investing in both the public and private digital assetmarkets. These hedge funds tend to havelonger lock-up periods – typically two or three years – and low liquidity.While this may be attractive from an opportunistic perspective, the reality is it’squite complicated from an institutional perspective for reporting purposes.
No. 5: Active management’s been challenged, but differentiated sources of alpha are emerging.
For the year-to-date periodended Q3 2019, active managers were collectively up 30 percent on an absolute return basis according to our tracking of approximately 50 institutional-quality funds, compared to bitcoin being up 122 percent over the same time period.
Bitcoin’s performance this year, particularly in Q2 2019, has made it clear that its parabolic ascents challenge the ability of active managers to outperform bitcoin during the windows they occur. Active managers generally need to justify the fees they charge investors by outperforming their benchmark(s), which are often beta proxies, yet at the same time they need to avoid imprudent risk behavior that can potentially have swift and sizable negative effects on their portfolios.
Interestingly, active management performance from the beginning of 2018 consistently outperformed passively holding bitcoin (with the exception of “opportunistic” managers who also take advantage of yield and staking opportunities, as of May 2019). This is largely due to various risk management techniques used to mitigate the negative performance drawdowns experienced throughout the extended market sell-off in 2018.
Although 2019 has challenged the large-scalesuccess of these alpha strategies, they are nonetheless in the process ofproving themselves out through various market cycles, and we expect this to bea growing theme in 2020.
No. 6: Token value accrual: Transitioning from subjective to objective
At the end of Q3 2019, according todapp.com, there were 1,721 decentralized applications built on top of ethereum, with 604 of them actively used – more than any other blockchain. Ethereum also had 1.8 million total unique users, with just under 400,000 of them active – also more than any other blockchain. Yet, despite all this growing network activity, the value of ETH has remained largely flat throughout most of 2019 and is on track to end the year down approximately 10 percent at the time of writing (by comparison, BTC has nearly doubled in value over the same period). This begs the question: is ETH adequately capturing the economic value of the ethereum network’s activity, and DeFi in particular?
A new fundamental metric was introducedearlier this year byChris Burniske– the Network Value to TokenValue (“NVTV”) ratio – to ascertain whether the value of all assets anchoredinto a platform can be greater than the value of the base platform’s asset.
The ETH NVTV ratio hassteadily declinedthroughout the last few years. There are likely to be several reasons for this, but I think one theory summarizes it best: most applications and tokens built and issued atop ethereum may be parasitic. ETH token holders are paying for the security of all these applications and tokens, via the inflation rate that is currently given to the miners – dilution for ETH holders, but not for holders of ethereum-based tokens.
This is not a bullish or bearishstatement on ETH; rather it is an observation of early signs of network stackvalue capture in the space.
No. 7: Money or not, software-powered collateral economies are here
Another trend we observed this year is a larger migration away from “cryptocurrencies” in an ideological currency (e.g., money/payment and a means of exchange) sense, and toward digital assets for financial applications and economic utility. A form of economic utility that took the stage this year is the notion of software-powered collateral economies. People generally want to hold assets with disinflationary or deflationary supply curves, because part of their promise is that they should store value well. Smart contracts enable us to program the characteristics of any asset, thus it is not irrational to assume that it’s only a matter of time until traditional collateral assets get digitized and put to economic use on blockchain networks.
Thebenefit of digital collateral is that it can be liquid and economicallyproductive in its nature while at the same time serving its primary purpose (tocollateralize another asset), yet without possessing the risks of traditionalrehypothecation. If assets can be allocated for multiple purposessimultaneously, with the risks appropriately managed, we should see moreliquidity, lower cost of borrowing, and more effective allocation of capital inways the traditional world may not be able to compete with.
No. 8: Network lifecycles: An established supply side meets a quiet but emerging demand side.
Supply side services in digital assetnetworks are services provided by a third party to a decentralized network inexchange for compensation allocated by that network. Examples include mining,staking, validation, bonding, curation, node operation and more, done to help bootstrapand grow these networks. Incentivizing the supply side is important in digitalassets to facilitate their growth early in their lifecycles, from initial fundraisingand distribution through the bootstrapping phase to eventual mainnet launches.
While there has been significant growth of this supply side of the equation in2019 from funds, companies, and developers, the open question is how and whendemand for these services will pick up. Our view is that as developerinfrastructure continues to mature and activity begins to move “up the stack”toward the application layer, more obvious manifestations of product-market fitare likely to emerge with cleaner and simpler interfaces that will attract highvolumes of users in the process. In essence, it is important to build thenecessary infrastructure first (the supply side) to enable buy-in from the endusers of those services (the demand side).
No. 9: We are in the late innings of the smart contract wars.
While ethereum leads the space on adoption and moves closer to executing on its scalability initiatives, dozens of smart contract competitors fundraised in the market throughout 2018 and 2019 in an attempt to dethrone ethereum. A handful have formally launched their chains and operate in mainnet as of the end of 2019, while many others remain in testnet or have stalled in development.
What’sbeen particularly interesting to observe is the accelerative pace of innovation– not just technologically, but economically (incentive mechanisms) andsocially (community building) as well. We expect many more smart contract competitors operating privately as ofQ4 2019 to launch their mainnets in 2020. Thus, given the incoming magnitude ofpublicly observable experimentations throughout 2020, if a smart contractplatform does not launch in 2020, it is likely to become disadvantageouslypositioned relative to the rest of the landscape as it relates to capturingsubstantial developer mindshare and future users and creating defensiblenetwork effects.
No. 10: Product-market fit is coming, if not already here
We don’t think human and financial capital would havecontinued pouring into the digital asset space in such great magnitude over thelast several years if there wasn’t a focus on solving at least one very clearproblem. The questionable sustainability of modern monetary theory is one ofthem, and Ray Dalio of Bridgerwater Associates has beenquite vocalabout it. Big Tech centralization is another. There are also growingglobal concerns related to data privacy and identity. And let’s not forgetcybersecurity. The list goes on. We are at the tip of the iceberg as itrelates to the products and applications blockchain technology enables, and mainstream users will come with growingmanifestations of product-market fit. As more time and attention gets spent ondiagnosing problems and working on solutions, the industry will begin toachieve its full potential. Facebook’s Libra andTwitter’s Bluesky initiative confirm that as an industry we are heading in theright direction.
A 2020 look ahead
We see 2020 shaping up to be one of the brightest years on record for the digital asset industry. To be clear, this is not a price forecast; if we exclusively measured the health of the industry from a fundamental progress perspective, by various accounts and measures we should have been in a raging bull market for the last two years, and that has not been the case. Rather, we expect 2020 to be a year of accelerated industry maturation.
Digital assets are still an emerging asset class with many quickly evolving narratives, trends, and investment strategies. It is important to note, that not all strategies are suitable for all investors. The size of allocations to each category will and should vary depending on the specific allocator’s type, risk tolerance, return expectations, liquidity needs, time horizon and other factors. What is encouraging is that as the asset class continues to grow and mature, the opacity slowly dissipates and clearly defined frameworks for evaluation will continue to emerge. This will hopefully lead to more informed investment decisions across the space. The future is bright for 2020 and beyond.
• An Identity Layer for the Web Would Identify Us Everywhere
• 2019 Set the Stage for DeFi to Go Mainstream || Almost 70 crypto hedge funds have closed this year as institutional investors shy away: Nearly 70 crypto-focused hedge funds that largely cater to institutional investors, such as pension funds and family offices, have closed this year.
The number of new funds launched this year is also less than half the number of launches in 2018, according to U.S.-based Crypto Fund Research, asreportedby Bloomberg Wednesday. Region-wise, North America led the number of crypto fund closures this year at 28, followed by Europe (23), Asia-Pacific (14) and others (3).The inherent volatile nature of bitcoin and other cryptocurrencies has kept institutional investors at bay. “The market is definitely retail driven and will remain so for the foreseeable future,” Nic Carter, co-founder of crypto market tracker Coin Metrics, was quoted as saying in the report.There are currently 804 cryptocurrency funds in total, 355 of which are hedge funds and 425 are venture capital funds, according to Crypto Fund Research’swebsite. Arrington XRP, BlockTower Capital, Brian Kelly Capital Management, Digital Currency Group and Fenbushi Capital are the top five cryptocurrency funds, per the researcher.
“To me, the fact that there is any institutional adoption for Bitcoin only 10 years into existence is a radical success and beyond what anyone could have imagined just 3 or 4 years ago,” Spencer Bogart, general partner at Blockchain Capital, was quoted as saying in the report. || Is cryptocurrency a security?: The growing popularity of cryptocurrencies has led to a lot of heated debates about how they should be defined and regulated. The argument centres on whether cryptocurrencies should be classified as securities – and the answer could have major ramifications for the way the world of digital assets operates going forward. This is because anything classed as a security is regulated – in the US by the Securities and Exchange Commission (SEC) and in the UK by the Financial Conduct Authority (FCA). Many people argue this goes against the very nature of cryptocurrencies, which are anonymous by design, are not governed by any single authority, and aim to be free of centralised regulation. What is a security? To understand whether cryptocurrency is a security, it’s important to understand what a security actually is. A security is a tradable financial asset that has monetary value. It represents an ownership position in a publicly-traded corporation (via owning shares), a creditor relationship with a government body or a corporation (via owning bonds), or rights to ownership as represented by an option. The legal definition of a security varies by jurisdiction. In the US, a security is a tradable financial asset of any kind. In the UK, the FCA’s definition of a security applies only to equities, debentures, alternative debentures, government and public securities, warrants, certificates representing certain securities, units, stakeholder pension schemes, personal pension schemes, and rights to or interests in investments. The crypto security debate The SEC has been fairly open in its ponderings about whether cryptocurrency is a security. Under US law, a security includes an “investment contract” – which is defined as an investment of money in a common enterprise with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others. This is known as the Howey Test , and it essentially asks whether the value of a transaction for one of its participants is dependent upon the other’s work. Story continues SEC chairman Jay Clayton has clarified that Bitcoin is not a security . In an interview with CNBC in June, he stated: “Cryptocurrencies are replacements for sovereign currencies… [they] replace the yen, the dollar, the euro with Bitcoin. That type of currency is not a security.” Former CFTC chairman Gary Gensler has also stated that Bitcoin cannot be classified as a security. He pointed out that Bitcoin came into existence as mining began as an incentive in validating a distributed platform, with no initial token offering, no pre-mined coins, and no kind of common enterprise. Bitcoin has never sought public funds to develop its technology and it does not pass the Howey Test. Ethereum and Ripple The position is less clear when it comes to other cryptocurrencies such as Ethereum (ETH) and Ripple (XRP). Jay Clayton has endorsed remarks made by his colleague William Hinman that Ethereum is not a security . However, Gensler has warned that more than 1,000 cryptocurrencies are probably operating outside of US law and will have to come into regulatory compliance. He said that although Bitcoin is not a security, Ripple “sure seems like a common enterprise”. A council created by some of the major cryptocurrency exchanges – Crypto Ratings Council – seems to agree as it awarded XRP a four out of five in matching the criteria considered to be a security. It pointed out that Ripple sold XRP before the token had any utility and used a securities-like language when promoting XRP. Ripple CEO Brad Garlinghouse has since hit back at critics who have been “spreading fear, uncertainty, and doubt” about XRP, stating that the company’s token “ is not a security ”. Speaking at the MIT Business of Blockchain conference last year, Gensler highlighted the key distinctions that could determine whether tokens are securities. In a nutshell, if a coin offering is designed to give investors an ownership stake, the token should be treated like a security and subject to regulation. The FCA, on the other hand, recently suggested XRP is not a security because, like Ethereum, it can be used as a means of payment (exchange token) and to run applications (utility token). Conclusion Currently, the answer to the question “is cryptocurrency a security?” seems to be “it depends” or “sometimes”. Certain crypto tokens do appear to pass the Howey Test. However, their fundamental goal of being autonomous and distributed networks that are designed to be decentralised is at odds with the regulated nature of securities. What the regulators eventually decide will have a huge impact on the crypto world and its investors. The post Is cryptocurrency a security? appeared first on Coin Rivet . || Government Backed Tribe Blockchain Accelerator to Boost Bitcoin Smart Contract Platform RSK in Singapore: The program will connect Singapore's government agencies and corporations with RSK and RIF technologies to increase global blockchain awareness and adoption
SINGAPORE / ACCESSWIRE / November 14, 2019 /Today, IOV Labs, the blockchain technology organization that developed the first Bitcoin-backedsmart contract platformRSK and its P2P solutions layer protocol RIF OS, announced a partnership with Tribe, Singapore's first government-backed blockchain accelerator.
The partnership will make RSK's second-layer protocol and its third-layer services marketplace, RIF, available to Singapore's government agencies, corporations, and late-stage startups looking to explore the integration of blockchain technologies into their programs, products, and services.
Ruben Altman, IOV Labs' Head of Adoption, commented: "Our partnership with Tribe Accelerator will open the door to an important market for us. After the production-ready launch in early 2018 we decided to take a step forward our global expansion and partner up with strategic local players in key ecosystems. We're more adoption-oriented than ever and look forward to the Internet of Value realization."
Tribe Accelerator Managing Partner, Yi Ming Ng commented, "IOV Labs is an innovator in the blockchain industry, with exciting and proven solutions that solve real business problems. We're excited to have them participate in our Tribe ecosystem, as we continue to connect businesses with relevant solutions to our industry partners."
RSK introduced the first smart contract platform to use the Bitcoin network. Even before its main net launch in January 2018, RSK consistently garnered attention for offering a second layer protocol that leverages the security and reputation of the Bitcoin network and the functionality ofsmart contracts. IOV Labs recently opened a RSK Adoption Hub in Singapore, where they are focusing on developing open, secure, and easy-to-use blockchain technology services and continue building partnerships.
About IOV Labs
IOV Labsis a purpose-driven organization focused on developing the platforms needed for a new blockchain-based financial system that will enable worldwide financial inclusion and bridge the gap between these nascent technologies and mass adoption.
The organization currently develops the most popular implementations of theRSK Smart Contract NetworkandRIF OS platforms. RSK Network is the most secure Smart Contract platform in the world, as it relies on Bitcoin's hash power. RIF OS protocols, are a suite of open and decentralized infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment to enable mass adoption of Bitcoin and RSK.
About Tribe Accelerator
Tribe Acceleratoris a blockchain accelerator that works closely with the Singapore Government, championing to be a neutral platform in driving collaboration and growth of the blockchain ecosystem. They are a product development focused accelerator that provides promising startups a hyperconnected platform to develop innovative solutions together with their network of global corporations, government agencies and top blockchain companies.
Contact:Dan Edelsteinpr@marketacross.com+972-545-464-238
SOURCE:RSK
View source version on accesswire.com:https://www.accesswire.com/566565/Government-Backed-Tribe-Blockchain-Accelerator-to-Boost-Bitcoin-Smart-Contract-Platform-RSK-in-Singapore || Bitcoin, Ripple & Litecoin - American Wrap: 11/27/2019: BTC/USD Technical Analysis: Perfect Textbook Technical Pattern Is Very Close To Being In Play
The head and shoulders pattern is one of the most famous in technical analysis.
Now it seems on the 4-hour chart BTC/USD is forming a perfect one.
If the price breaks and closed above 7,400 that will trigger a potential upside target of between 8K and 8,200.
With the head and shoulders pattern the target is based on the pattern length.
XRP/USD Technical Analysis: Ripple breaks higher but can it sustain the move?
As you can see from the chart below the price has recently shot higher.
The 0.2255 level has been used on a number of occasions as a support and resistance level.
The next potential resistance lies at 0.2355 which has been respected on three occasions.
LTC/USD Technical Analysis: This resistance level is hitting the price hard intraday
Looking at the hourly chart below its clear to see that the 47.22 level is giving LTC/USD some trouble.
Bitcoin, on the other hand, has broken higher and maybe this can have a lagging effect on Litecoin.
Longterm. this level was pretty significant back on 23rd October as it was where price found support after a heavy drop.
Image Sourced from Pixabay
0
See more from Benzinga
• Bitcoin, Ripple & TRON - American Wrap: 11/26/19
• Bitcoin, Ripple & Litecoin - American Wrap: 11/25/2019
• Bitcoin, Ripple & TRON - American Wrap: 11/19/19
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || New Convenient Layout Released by Matrixport Platform: Click. Trade. Loan. They do the Rest. New Convenient Layout Released by Matrixport Platform.
NEW YORK, NY / ACCESSWIRE / December 20, 2019 /In order to provide users a quality experience, Matrixport officially launched Matrixport's new official website(https://www.matrixport.com/). Matrixport's new website changed the overall style, changing the main tone to technical blue, and increased the dynamic effect and interaction, giving people a cool visual sense while enhancing the interactive experience.
Matrixport is a financial services company spun off from the world's leading ASIC chip (mining computers) producer Bitmain Technologies. With its rich industry resources and leading technology capabilities, it strives to offer its clients innovative products. Thanks to the leader position that Bitmain enjoys in the mining hardware market, Matrixport has a very established clientele since its very beginning. Althoughbeing a start-up, Matrixport already has more than 160 employees worldwide with the majority of them working for the technical side and the rest having a strong financial industry background (with past experience at Deutsche Bank, Citi, Merrill Lynch, etc.). It can be said with confidence that the company's knowhow on everything crypto, blockchain and financial products is solid and proven.
With all these favourable conditions, the whole Matrixport product development team works hard and intensively on designing new exciting offerings to satisfy a rapid growing market. The recently launched dual currency product and zero interest loan are two very good examples.
The Dual Currency Product (https://invest.matrixport.dev/en) is a non-principal protected investment product with a floating return (up to 50-100% annualised). The yield of the product is secured at the time of purchase, but the currency to be settled in is a function of the numeric comparison between settlement price at expiry versus linked price. It is a short-term investment product.
Matrixport also provides liquidity to its clients against crypto currencies as collateral. The Zero Interest Loan offers interesting opportunities to obtain a loan with zero interest and zero risk of liquidation. The product is entirely customised. By giving up the opportunity cost of potential bitcoin upside through the profit-taking point, the client gets to enjoy the benefits of zero interest, downside protection, and the assurance of zero risk of liquidation and no additional collateral top-up. This is particularly suitable to clients who don't want to take the risk of potential collateral top-up or forced liquidation, who focus on stable yielding and expect that the price would not rise beyond the profit-taking price at maturity, thus to risk mitigation of drastic market declines in BTC at maturity.
The above mentioned two examples from Matrixport are just the beginning. We have reason to believe that in the near future, Matrixport will also launch other exciting and innovative products.CONTACT:Media RelationsMatrixporthttps://www.matrixport.commarketing@matrixport.com
SOURCE:Matrixport
View source version on accesswire.com:https://www.accesswire.com/570924/New-Convenient-Layout-Released-by-Matrixport-Platform || Brexit and the Importance of the December 12 Election: How Did We Get Here? For many UK citizens, the topic of Brexit has completely fallen off their radar. With several delays and constant talk of obstacles, it certainly seems like Brexit will never happen. However, recent developments have significantly increased the odds and the outcome of the December 12 election will have a major influence over how things play out with Brexit from here. UK Prime Minister Johnson managed to secure a deal with the EU in October and was set to deliver an exit at the end of October. However, he faced a hurdle in Parliament and threw in the towel in trying to push it through by the October deadline. The main issue was that Johnson no longer had a majority and he saw that the odds were stacked against him in trying to push a deal through, especially with the short time frame he was faced with. This led to a call for a snap election. Johnson hopes to get a majority, and with that, he will be able to push through his Brexit deal. What the Polls are Saying The headlines over the past week have been saying that the Conservative party lead over Labour has been narrowing . This does appear to be the case for the most part. Conservative lead over Labour The above chart is a consolidation of most of the major polls. It shows that the Conservative party held a comfortable double-digit lead for the second and third week of November, and that the lead has declined since. The peak during this period was a poll conducted between November 14-18 by Kantar which showed a lead of 18 points. Last week, a poll conducted by The Daily Telegraph, and a poll by ICM Research showed that the lead had narrowed to a mere 7 points. A poll conducted by the Independent newspaper showed a lead of 6 points. These figures are certainly at the lower end of the spectrum. At the same time, The Observer reported a 15 point lead in a poll conducted between November 27-29. This is certainly a significant deviation from the other polls conducted last week. Another poll that was closely watched last week was the YouGovs MRP poll . This particulate model gained popularity after it called 93% of seats correctly in 2017. The polls indicated a 10 point lead for the Conservative party. Story continues The poll further showed, if the election were held tomorrow, that the Tories stand to win 359 seats which is 42 more than they took in 2017. Labour, on the other hand, is looking at 211 seats, down 51 seats. What Happens if Labour Wins Labour is campaigning to leave the final say on Brexit to the UK voters. The plan is to renegotiate the deal that Johnson made, within a three-month time frame and then put that deal up for a vote. This sounds like a great idea, in theory. The main problem with it is that it will delay Brexit further because of the three-month negotiating period with the EU. This on its own could be a problem as the EU is not likely to be forthcoming in negotiations after having already reached a deal with Johnson. Beyond that three-month deal, it could take a significant amount of time to conduct and process a vote on the deal. Further, it remains unclear as to what would happen next if it was voted down by the public. If that means Labour goes back to the negotiating table, then Brexit could be drawn out for a very long period. The delay thus far has already caught the attention of the Bank of England. At their November MPC meeting, two members voted unexpectedly to cut interest rates . The members expressed concerns over economic growth and felt that cheaper borrowing costs would help to address it. To be fair, the concerns arose from a combination of Brexit and the ongoing trade war. Nevertheless, Brexit brings about uncertainty which the central bank argues is bad for business investments, and as a result, the economy. From the standpoint of the financial markets, a Conservative win would tend to keep Sterling strong with several analysts looking at a move up to roughly 1.35 in the pound to dollar exchange rate . This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis Looking for Pullback into Value Zone Between 8337.50 to 8309.75 E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis Trade Deal Concerns Likely to Encourage More Profit-Taking Brexit and the Importance of the December 12 Election Gold Price Futures (GC) Technical Analysis Weakens Under $1471.30, Strengthens Over $1474.80 Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 01/12/19 What Awaits the AUD This Week? || Bitcoin Halving Could Leave Price at $20K-$50K, Hedge Fund Manager Says: Bitcoins scheduled mining-reward halving in May 2020 could leave prices for the cryptocurrency in a range between $20,000 and $50,000, according to a new estimate. The projection by Charles Hwang, managing member of the hedge fund Lightning Capital and an adjunct professor at Baruch College, represents a multiple of bitcoins current price around $7,500. Hwang wrote in a post on Medium that he assumed demand holds steady at 633,000 bitcoin through 2021, while mining rewards drop to 328,500 bitcoin a year from the current pace of 657,000 a year. Related: Nayuta Claims Its Android Lightning Wallet Is the First to Build in a Bitcoin Full Node This sudden shift in the supply curve will most likely be the catalyst for the next bitcoin bull run, Hwang wrote in the post. Lightning Capital is a small hedge fund, with roughly $500,000 of assets, but Hwangs prediction adds to a growing number of estimates from investors and analysts trying to gauge the potential impact of the halving where the number of bitcoin mining rewards created every 10 minutes is sliced in half. The cut happens every four years, in accordance with the cryptocurrencys 11-year-old design. Some market observers say bitcoins first two halvings in 2012 and 2016 helped fuel big rallies in bitcoins price, and the German bank BayernLB predicted earlier this year that the 2020 halving could drive the price as high as $90,000. Other analysts argue that, since investors know the event is coming, it theoretically should already be baked into bitcoins price. Hwang told CoinDesk in an interview that he considered his demand estimate conservative. He projects that 82,000 bitcoin purchases could come from online dark markets while 546,000 bitcoin could be bought through over-the-counter provider LocalBitcoins. Related: Bakkt Goes Live With Options, Cash-Settled Futures Products There have been many people who claim there is no demand for bitcoin, Hwang said. However, the data from LocalBitcoins and dark markets demonstrates people are purchasing bitcoin. Story continues Hwang wrote in his Medium post that his research shouldnt be construed as investment advice. Source: Hwangs The bitcoin squeeze paper Related Stories The Safello Story: Smaller Crypto Exchanges Must Partner to Survive Crypto Exchange OKEx Launching Options Trading Later This Month || WATCH: Coinmine Adds Interest Payments to Its At-Home Crypto Miners: When the super-sleek – and super-divisive – Coinmine machine hit the crypto markets, people were at once impressed and annoyed. The device, looking like the love child between a monochromatic cyborg and an Xbox, was made to allow anyone to run a full node without the fuss of downloading an entire blockchain or even having to understand the command line. Related: Founder of Bitmain Rival Held by Police Over Possible IP Dispute The device, which we profiled here a year ago , is now adding more tricks to its arsenal. First, the miner is $100 cheaper, down from $799, and the system now offers 6.5 percent APR on earnings held in Coinmine wallets. The goal? To get Coinmines into more (early-adopting) homes. “As more people purchase Coinmines, the better pricing we can get from our supply chain,” Coinmine CEO Farbood Nivi told CoinDesk in a video interview in New York. “Our philosophy is to make things better, faster, and cheaper.” The company doesn’t exactly want a miner in every home, although Nivi as said he wants to expand the market. Instead, he sees the device as a gateway into the world of crypto. Related: WATCH: Binance CEO CZ Says Crypto Exchange Is No ‘Outlaw’ “Crypto actually creates a single financial world for everyone in the world to live in,” he said. “I think you’ll have a ton more control over your actual wealth.” In this interview with CoinDesk’s Danny Nelson, Nivi talks about growth plans as well as the effects of recent tariffs on products manufactured in China. Coinmine CEO Farbood Nivi image via CoinDesk archives Related Stories Bitcoin Mining Power Sees Short-Term Drop as Rainy Season Ends in China Bitcoin Just Hit $1 Billion in All-Time Transaction Fees || Bitcoin’s 9,000,000% Rise This Decade Leaves the Skeptics Aghast: (Bloomberg) -- If in the throes of this bull market’s earliest stages of recovery someone told you to forgo stocks, forget commodities, renounce fixed-income assets and buy an unknown digital token, the first of its kind, and watch it grow beyond your wildest dreams, you’d call them crazy, right?
Emerging out of the ashes of the financial crisis, Bitcoin was created as a bypass to the banks and government agencies mired in Wall Street’s greatest calamity in decades. At first, it was slow to break through, muddied by a slew of scandals: fraud, thefts and scams that turned away many and brought closer regulatory scrutiny. But once it burst into the mainstream, it proved to be the decade’s best-performing asset.
The largest digital token, trading around $7,200, has posted gains of more than 9,000,000% since July 2010, according to data compiled by Bloomberg.
“Bitcoin really captured that wild technology enthusiasm that ‘this time is different,’” said Peter Atwater, the president of Financial Insyghts and an adjunct professor at William & Mary in Williamsburg, Virginia.
The performance over the past 10 years, even with its huge run-up and subsequent mega-crash, leaves all others in the dust. It’s a massive windfall for those who HODL’ed through its ups and downs, even as it continues to provide fodder for get-rich-quick schemes. For some, the never-ending fantasy of continually hitting that payoff still helps to keep Bitcoin’s momentum going.
Nothing else comes even close to beating it. The S&P 500 merely tripled in that period. An index that tracks world markets has more than doubled. Gold is up 25%. Some of the best-performing stocks in the Russell 3000 -- including Exact Sciences Corp. and Intelligent Systems Corp. -- are each up about 3,000%. Those gains pale in comparison to the finance world’s latest -- and one of its most controversial -- marvels.
Partly, the monster return is a reflection of the calculus behind Bitcoin’s jumping-off point: the token wasn’t worth anything when someone named Satoshi Nakamoto launched it on Halloween 2008. Designed as a method of exchange that can be sent electronically between users around the world, it did not have a centralized control network. Bitcoin, instead, is run by a network of computers that keep track of all transactions on the blockchain ledger. For many, that technology was reason enough to buy into the idea.
On the other side of the equation are Bitcoin’s devoted enthusiasts who saw in its technology a promising way to change the global financial system.
“This is the first time that there’s a real separation -- just like church and state -- you have a separation of money and state,” said Alex Mashinsky, founder of Celsius Network, a crypto lending platform. “That’s the innovation, that’s the excitement.”
But Bitcoin was slow to take off, notching its first transaction two years after its creation, when someone used it to buy pizza. Since then, the first-born token’s price has catapulted, doubling many times over, and hundreds of imitators have cropped up -- some with more success than others.
Many of those who got in early stayed faithful, watching as it made its way through a boom and bust cycle unrivaled by almost anything else over the last decade.
At the beginning of 2017, Bitcoin jumped above $1,000. By mid-summer, it had more than doubled. Insanity was unleashed. By year-end, it hovered above $14,000. But as swiftly as it ran up, it fell even faster. By the end of 2018, Bitcoin barely budged above $3,000. Yet shortly after its crash, it embarked on another huge rally, this time reaching as high as $13,800 in the summer of 2019.
“Certainly the numbers are what appeals to investors,” said David Tawil, president of ProChain Capital. “The next 10 years need to be a totally different stage of growth based on totally different factors than the first stage.”
As much as it’s made a fortune for speculators and some thieves, Bitcoin’s survival will rest on further adoption. It’s not being used as a widespread medium of exchange. A few large retailers are accepting payment in Bitcoin but it hasn’t been the large-scale embrace so many had predicted. Scams are still running rampant. Interest is waning and consolidation among large owners is at a higher level than it was during the height of the 2017 bubble, which means that their influence over prices could be increasing.
Projections for the next decade abound. In the 2020s, mass adoption is surely to take off, they say. Blockchain technology will revolutionize and solve every problem in the world. On the other hand, regulatory scrutiny is likely to intensify, with central bankers paying closer attention than ever before.
In the more immediate term, some speculators forecast 2020 might be less fraught with volatility given its upcoming halving, whereby the number of coins awarded to so-called miners who process transactions is cut by 50%. That’s set to happen in May 2020 (the internet is replete with countdown clocks). The coin’s previous cut, about four years ago, coincided with a run-up in its price, pushing many crypto evangelist to believe in a repeat.
To CoinList’s Andy Bromberg, the halving is already priced in. “Maybe it’s been overpriced in and everyone’s bought into this thesis and we see a dip post-halving,” said the firm’s co-founder and president in an interview. “That would not shock me.”
But beyond next year, “Bitcoin is finding its own narrative as digital gold,” he said. “It feels like that narrative is picking up steam and it’s breaking away on its own. I would define success for most crypto assets as doing exactly that.”
To contact the reporter on this story: Vildana Hajric in New York at vhajric1@bloomberg.net
To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Randall Jensen
For more articles like this, please visit us atbloomberg.com
©2020 Bloomberg L.P.
[Random Sample of Social Media Buzz (last 60 days)]
@BlockShowcom @GabeWithTheHat No! #bitcoin not blockchain || 💰 Market Cap: $240,927,186,244
👊 BTC Dominance: 64.82%
1️⃣ BTC: $8,650.40 | 1H: 0.66%
2️⃣ ETH: $186.63 | 1H: 0.65%
3️⃣ XRP: $0.27 | 1H: 0.75%
4️⃣ BCH: $271.12 | 1H: 0.47%
5️⃣ USDT: $1.01 | 1H: 0.61%
⏰ 17.11.2019 19:27:35
ℹ Powered by #Robostopia || https://t.co/eBDBMdWenp || @blockchainchick @fundstrat @krugermacro Very easy..everything comes down to the underlying physical infrastructure: electricity, mining farms. 1) Strangle electricity supply and mining farm building: Bitcoin reverts back to a small scale network that can easily be 51% attacked at whim as to make it basically useless || #RT BitCoinAlertBot: The current price of #BTC is $8524.66 in USD #crypto #cryptocurrency #trading $BTC $XBT || 📈📈24hr Volume Alert!📈📈 $WABI current volume: 150.48 $BTC average: 88.81 $BTC which is 104.41% above average! || Best project || investing in bitcoin has changed my life || No investment earn money #BTC #USD #DOGE #ETH and #otherthingstobobfor
Mastercoin https://t.co/cAKtALV3U2
Motorace mining https://t.co/E1vwbuAvOZ
hyperhash https://t.co/u9ArQG0beA
Online-Mining https://t.co/Swmvn9SDyp
Fast Mine https://t.co/EEBBDTd8uM || Tue Nov 19 06:52:31 2019 (0:38)
USD : 8146.12
Wght: 0.41
Blk#: 604451
Size: 1317.1 KB
TXs: 1634
Pool: 968 (1.7 MB)
#bitcoin
|
Trend: up || Prices: 8144.19, 8827.76, 8807.01, 8723.79, 8929.04, 8942.81, 8706.25, 8657.64, 8745.89, 8680.88
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-01-27]
BTC Price: 394.97, BTC RSI: 45.57
Gold Price: 1116.10, Gold RSI: 60.16
Oil Price: 32.30, Oil RSI: 47.43
[Random Sample of News (last 60 days)]
New Study Shows Bitcoin Still Has A Long Way To Go: Bitcoin has gained notoriety quickly over the past few years, as more people become familiar with cryptocurrencies. While the majority of the public is still skeptical regarding the safety and security of the currency, bitcoin's user base has been growing. However, although bitcoin enthusiasts say the payment system has made major gains over the past few years, a new study shows the cryptocurrency is still widely misunderstood, even by those who use it. Limited Understanding A peer-reviewed study conducted by Janne Lindqvist of Rutgers Wireless Information Network Laboratory showed both users and non-users of the cryptocurrency have only a basic understanding of how bitcoin works and how safe it is to use. Related Link: Interest In Bitcoin Mining Returns For those who have yet to try bitcoin, the study indicated they worried about adopting the currency and saw setting up an account as too difficult. Users Misinformed Surprisingly, the study also showed that many of those who use bitcoin regularly also found the system difficult to understand. Not only were bitcoin users misinformed about the level of security bitcoin transactions provide, but they also struggled to wrap their minds around how bitcoin transactions are carried out. Government Backing Important Another factor from the study that garners attention was that both users and non-users were keen for further government intervention for Bitcoin. While users typically expressed anti-government views and said less regulation was important to them, they still said that backing from the government would make the bitcoin system more secure. Image Credit: Public Domain See more from Benzinga Under Armour's Partnership With IBM Could Revive Both Brands Can Bank Stocks Recover? A New Way To Advertise © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || How Diageo Plans To Turn Its Smirnoff Brand Around: Diageo Plc (ADR)(NYSE:DEO) has already declared its New Year's resolution — to turn its struggling Smirnoff vodka brand around. In the 2014-2015 financial year, Smirnoff sales by 3 percent as consumers turned their attention to "craft" vodka brands with smaller batches and local distilleries.
Flavor Mistakes
However, Smirnoff wasn't always struggling. The brand became hugely popular with several flavor varieties when consumers were interested in unique cocktails, but that era seems to have ended leaving the vodka brand behind with it.
In an effort to revive the brand this year, the company added 42 new flavors designed to appeal to younger drinkers. However, the decision missed the mark and Smirnoff global brand director Matt Bruhn admitted that the flavor additions were a "mistake."
New Strategy
Diageo Chief Executive Ivan Menzes vowed to turn the brand around this year as vodka market makes up about 12 percent of the company's net sales. In order to do this, Smirnoff is to cut down on the number of flavors offered and embed its name into the electronic-dance-music community.
Smirnoff is slated to sponsor 26 electronic-music festivals in the coming year and the brand has also developed a sound collective that will sponsor fresh new electronic-music artists. The company has also created a line of glow-in-the dark flavors that will be marketed as shots.
Competing With Craft
All of Smirnoff's efforts in the coming year are designed to appeal to the coveted millennial generation, a group that has recently reached the legal drinking age and makes up a huge percentage of the market. While Smirnoff's efforts are valiant, many believe that the company is fighting an uphill battle as bespoke companies that make unique offerings have become popular choices among young people.
See more from Benzinga
• What's In Store For Bitcoin In 2016?
• FedEx Gets The Blame For Holiday Delays
• How Blockchain Can Reform The Real Estate Industry
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Now You Can Play The Lottery With Bitcoin: While bitcoin has faced several obstacles in its journey toward mainstream adoption, the cryptocurrency appears to be starting the New Year off on the right foot. Not only has bitcoin seen its value increase steadily over the past three months, but the coin has gained some fame, as merchants continue to adopt the cryptocurrency as a valid form of payment. The latest place consumers can find use for their bitcoins is the lottery, which has gotten a lot of attention recently due to its $1.6 billion Powerball Jackpot prize.
Bitcoin Payment
Mobile lottery ticket app Jackpocket has integrated bitcoin as a payment option within the app, meaning that people can purchase their Powerball tickets using the cryptocurrency. On Wednesday, the app announced its bitcoin addition, which garnered a lot of attention for the coin, as the Powerball Jackpot also reached a record high on the same day.
Related Link:UPDATE: Winning Powerball Tickets Sold In California, Florida, Tennessee --ABC News
Bullish On Bitcoin
For Jackpocket, the move was a great way to reach another demographic of lottery players and represents the company's faith in bitcoin's success. Jackpocket CEO Peter Sullivanannouncedthe decision to incorporate bitcoin into the app saying that he and his team are "very bullish on cryptocurrencies and the blockchain in general."
Speedy Transactions
Not only will bitcoin add to Jackpocket's pool of potential users, but Sullivan says he hopes it will help speed up transaction times and reduce glitches. Heavy volumes of users trying to buy tickets have been hindered by regulations, according to Sullivan, and those issues have strained the app's relationship with credit card processors and banks.
Related Link:No Luck On Winning Powerball? Learn The Skill Of Trading
More Customers
It remains to be seen whether many Jackpocket users will use the bitcoin payment option, but Sullivan is hoping it will attract more affluent customers who have experience with technology, a group he says is likely to buy more tickets.
Image Credit: Public Domain
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Can The Bitcoin Foundation Last?: The Bitcoin Foundation was launched in 2012 as a way to provide legitimacy to bitcoin and cryptocurrencies at a time when they were relatively unknown. For two years, the foundation worked to lobby lawmakers, create public awareness and help bitcoin technology advance with the changing times. However, in 2014 when the price of bitcoin dropped dramatically, the foundation lost a great deal of its funding and now almost two years later, it continues to struggle.
Money Issues
One of the foundation's largest problems lies in its finances. The Bitcoin Foundation's board members have proven inexperienced at raising money and managing finances, an issue that has caused the organization to lose around $7 million over the course of the past two years.
Related Link:What's In Store For Bitcoin In 2016
On December 15 when the Bitcoin Foundation held its board meeting, Executive Director Bruce Fentonadmittedthat the organization was in dire straits and that more funding would be required in order to keep the foundation up and running, according to Bloomberg.
A Bad Reputation
However, while the bitcoin community strongly supports spreading the word about cryptocurrencies, the Bitcoin Foundation has found it increasingly difficult to recruit new members and drum up donations.
One of the reasons for this has been the organization's deteriorating reputation. As bitcoin itself was dragged through the mud due to high profile scams, some Bitcoin Foundation board members were wrapped up in scandals of their own. Former Vice Chairman of the Bitcoin Foundation Charlie Shrem is serving time in prison for his involvement in the illegal Silk Road marketplace, and founding member Mark Karpeles, the brain behind failed exchange Mt. Gox, was arrested on charges of embezzlement in August 2015.
Does Bitcoin Need A Foundation?
While the Bitcoin Foundation has been instrumental in helping the cryptocurrency advance, many believe the currency is likely to survive even without the organization. While the Bitcoin Foundation represents the first major entity to advocate cryptocurrencies, several others have since emerged and will likely take on the organization's role should it deteriorate further.
Hanging On By A Thread
On December 22, the Bitcoin Foundation voted to continue into the New Year and appointed three new board members. In an effort to turn things around, the foundation is working to revamp its mission statement and focus on maintaining healthier financials.
Image Credit:Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your first trade for Friday: The " Fast Money " traders delivered their final trades of the day. Dan Nathan was a seller of Wal-Mart ( WMT ) . Steve Grasso was a buyer of American Eagle Outfitters ( AEO ) . Brian Kelly was a seller of Deutsche Bank (XETRA:DBK-DE) . Guy Adami was a buyer of the Market Vectors Gold Miners ETF (NYSE Arca: GDX) after picking Macy's (NYSE: M ) three days in a row. Trader disclosure: On January 7, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is l ong MCD Feb put spread, long PFE buy-write, long TWTR March risk reversal, long UUP March call, long XLU Feb call spread, long PYPL Jan risk reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM Feb calls, short SPY, long UUP, long WMT puts. Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Wolfe Research Sr. Analyst Paul Sankey: No disclosures. More From CNBC Top News and Analysis Latest News Video Personal Finance || REPORTS: The secret creator of bitcoin has been unmasked — again: Bitcoin (virtual currency) coins are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. REUTERS/Benoit Tessier (Thomson Reuters) The creator of bitcoin may be an Australian finance geek named Craig Steven Wright, according to a new report by Wired's Andy Greenberg . Or it could be Wright and his close friend Dave Kleiman, who died two years ago, according to Gizmodo . Or Wright could be a man who really wants to take credit for it. Or the hunt to identify bitcoin's creator is wrong again . In 2009, someone — or some people — using the name Satoshi Nakamoto invented bitcoin, a type of digital currency that uses cryptography to move money and records it in a ledger without the need of a bank. The cryptocurrency was once an obsession among finance geeks, but emerged into more of a mainstream economic obsession. A bitcoin startup even sponsored the Bitcoin Bowl, a college-football bowl game, last year. Finding the creator of it has been an obsession among bitcoin enthusiasts and journalists alike. In March 2014, Newsweek published a cover story alleging that Dorian Satoshi Nakamoto, a man living in Southern California who denies having heard of the cryptocurrency, was its mysterious creator. But Greenberg may have the most compelling evidence so far that points to the Australian genius: Posts from Wright's blog hint at writing papers about a cryptocurrency, although Wired admits these could have been planted by Wright to make himself seem like the creator. Wright owns two supercomputers, including the most powerful privately owned supercomputer. These aren't on corporate campuses, but wired to his home in Australia. According to leaked documents, Kleiman had a trust containing the same number of bitcoins that Nakamoto is rumored to own. When he died, that trust was passed to Wright. Those bitcoins, at bitcoin's price peak, were worth more than a billion. Gizmodo has posted many of the emails in its own report , and you can read Wired's full story on the unknown Australian here . NOW WATCH: Google's self-driving car has a huge problem More From Business Insider TransferWise's CEO thinks bitcoin has been driven by 'greed' US investigators are accusing a bitcoin entrepeneur of running a $20 million Ponzi scheme A star Silicon Valley entrepreneur explains how bitcoin is going to change the world || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app.
Tyson's Bitcoin Projects
This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage.
The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks.
Celebrity Appeal
Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses,saying that his"potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users.
Safety Still A Concern
Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections.
Image credit:Eduardo Merille, Flickr
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Where do the presidential candidates stand on encryption? A handy guide: Photo: Getty Images In the wake of terrorist attacks here and abroad, candidates in the 2016 presidential race have shifted their attention to issues of national security. Many have proposed aggressive measures to confront ISIS, including bombing it “back to the Stone Age” (Sen. Ted Cruz, R-Texas) and banning Muslims from entering the country altogether (Donald Trump ) . But very few have articulated a clear position on how to prevent terrorist recruitment and plotting online. CNN’s Tuesday night Republican debate brought many of these issues to the table, raising questions about surveillance, who owns the Internet and — paramount to the tech world — encryption . Encryption — a way to encode information so that only the sender and the intended recipient can read it — has been central to a security versus privacy debate dubbed the Crypto Wars that dates back to the early 1990s. For years, intelligence officials have pointed to the technology as a significant obstacle in tracking nefarious activity online. Those complaints have only grown more insistent since the terrorist attacks in Paris and San Bernardino. Recently, FBI Director James Comey even suggested that major tech companies reconsider their business structure to intercept and pass on encrypted information when needed. And those pressures are sure to increase after French counterterrorism investigators announced that encrypted apps such as WhatsApp and Telegram may have been used to plot the Nov. 13 Paris attack. Virtually all tech companies and cryptographers argue that building any type of “backdoor” into these secure communications would undermine the purpose of the technology entirely, ultimately compromising public privacy and driving consumers to use unregulated international products. It’s something our next president will most definitely have to weigh in on. And though not every presidential candidate has offered a firm stance on the debate, they’ve definitely dropped hints. Below, a survey of those candidates who have acknowledged the issue of encryption and what they think about it. Story continues Democrats: Hillary Clinton The current Democratic frontrunner has discussed encryption regulation several times, though we still don’t know how she feels about it. In a conversation with Re/code’s Kara Swisher in June, she said Silicon Valley needs to sit down with legislators and have a “real conversation” about ways to get around encryption to combat online terrorist activity. Then she waffled, admitting it was a “hard choice” and that “there are really strong, legitimate arguments on both sides.” During a speech at the Brookings Institution in December, Clinton threw around more vague platitudes, requesting an “urgent dialogue” between industry giants and law enforcement officials about tackling terrorists online, appealing to Silicon Valley to “disrupt ISIS.” Her voting record, however, offers a clearer picture of her stance on privacy tech. As a New York senator in 2001, Clinton supported the Patriot Act , which authorized expanded government surveillance to monitor phone and email communications, collect bank and credit card records and track Internet activity. As provisions under that act were set to expire this year, she endorsed a bill that re-upped and modified that surveillance program, ending the NSA’s bulk metadata collection but maintaining other forms of surveillance. At the same time, she said the Cybersecurity Information Sharing Act, which allows the sharing of Internet traffic information between the government and tech companies, “ doesn’t go far enough ,” in protecting us from foreign hackers. So, it seems Clinton has a history of siding with the surveyors, and not the surveilled. Bernie Sanders Maintaining a steadfast focus on economic and social justice issues during his presidential campaign, Sanders hasn’t spent much time battling mass surveillance. But his record signals that he’s much more concerned than Clinton about protecting citizen’s privacy. Just as he voted against the Patriot Act, he rejected the USA Freedom Act this June, arguing that it didn’t “go far enough in protecting our privacy rights.” “I worry that we are moving toward an Orwellian form of society, where Big Brother — whether in the corporate world, or the government — knows too much information about the private lives of innocent people,” he told Yahoo Global News Anchor Katie Couric in June. Though that’s not an outright condemnation of building back doors into encrypted communications for the purpose of government surveillance, it’s very close. Martin O’Malley Photo: Cheryl Senter/AP The Democratic Party’s third wheel addressed encryption, however noncommittally, in an op-ed for the New York Daily News , calling for “greater public-private collaboration on how we can prevent terrorists from exploiting encryption, which has enabled them to ‘go dark’ well before they strike.” Ultimately that concern for security is likely what pushed O’Malley to support the USA Freedom Act . However, he said he “would like to see us go further” when it comes to limiting the government’s ability to conduct surveillance on citizens. So it seems he’s conflicted in this area. Republicans: Jeb Bush: Photo: John Locher/AP Jeb Bush more or less condemned the use of encryption in August: “If you create encryption, it makes it harder for the American government to do its job — while protecting civil liberties — to make sure that evildoers aren’t in our midst,” he said at an event sponsored by a military contractor-affiliated group named Americans for Peace, Prosperity, and Security . Rand Paul Paul has positioned himself as one of the most tech-savvy candidates of the 2016 presidential race, hosting hack-a-thons and accepting donations via Bitcoin . So it’s no surprise that he has a lot to say about the proposal to limit encryption. In an interview with Yahoo News’ Olivier Knox in November, he supported public use of the technology and echoed the security concerns of many cryptographers and activists. “The head of the FBI came out with this recently, he says, ‘Oh, we’re going to ban encryption.’ And it’s like we want to build a backdoor into Facebook and a backdoor into Apple products,” Paul said at the Yahoo Politics Digital Democracy Conference . “A backdoor means that the government can look at your stuff, look at your information, your conversations. … The moment you build an opening — and I’m not an expert on coding or anything, but the moment you give a vulnerability to a code that someone can get into your source code, not only can the government, but so can your enemies, so can foreign governments.” This comes as no surprise, as Paul has challenged the provisions of the Patriot Act in the past, and recently compared banning encryption to banning guns . Carly Fiorina Photo: John Locher/AP During the first GOP debate, Carly Fiorina was asked whether Google and Apple should cooperate with the U.S. government to weaken encryption so criminals can’t hide behind it. In response, the former Hewlett-Packard CEO made up a new word . “We need to tear down cyberwalls,” she said, referring, one can only assume, to encryption. “We could have detected and repelled some of those cyberattacks” if we had passed “a law [that] has been sitting, languishing, sadly, on Capitol Hill.” Just this week, she clarified her stance in an interview with Breitbart News . “You can’t outlaw encryption,” she said. “Encryption protects American consumers from identity theft, and all the rest of it. But we have to be able to work around it when necessary to give our investigators the information they need.” Fiorina reiterated this strategy, which some experts say is wholly infeasible, at the debate on Tuesday, solidifying her willingness to compromise the security of encryption in the wake of terrorist threats. Lindsey Graham Photo: Mike Blake/Reuters Graham followed up on Fiorina’s remarks at the first Republican debate by declaring “if I have to tear down a cyberwall, I’ll tear down a cyberwall.” But the South Carolina senator’s past comments about technology may be reason to question whether he knows what tearing down that cyberwall would entail. In March, Graham said he’d never sent an email . Adding: “I don’t know what that makes me.” In this case, it makes him a person who probably doesn’t know much about the encryption debate. However, those who contribute to his campaign can rest assured that the governor’s website processes each credit card transaction “using encrypted code.” John Kasich Tuesday’s debate gave the Ohio governor an opportunity to blame encryption for our lack of prior intelligence in terrorist attacks. “There is a big problem, it’s called encryption,” he said. “The people in San Bernardino were communicating with people who the FBI had been watching, but because their phone was encrypted, because intelligence officials could not see who they were talking to, it was lost. … We need to be able to penetrate these people when they’re involved in these plots and these plans, and we have to give the local authorities the ability to penetrate in this route. Encryption is a major problem and Congress has got to deal with this, and so does the president, to keep us safe.” Kasich’s suggestion that we could not access the San Bernardino shooters’ phone conversations because their phone was encrypted is somewhat misleading. Kasich was referring to a CBS News tweet that quoted a “senior law enforcement official” who said investigators had found “levels of built-in encryption” in Syed Farook and Tashfeen Malik’s phones. Virtually all modern phones in the United States come out of the box with “levels of built-in encryption,” otherwise criminals would be able to intercept your calls whenever your phone connected to a cellular tower. Not to mention, if your phone was stolen, anyone would be able to access your sensitive information. Whether Kasich is confused by that point, or simply using it as an example to explain why all encryption is dangerous, is unclear. But there’s no question that he’s willing to significantly downgrade the security of devices to be sure nothing gets past intelligence officials. George Pataki During Tuesday night’s undercard debate, the former New York governor said that, as president, he would pass “a law on tech firms to prevent encryption.” In clarifying his position, he provided suggestions similar to Fiorina’s. “Companies are entitled to encrypt and protect their knowledge and their intelligence,” he said. “But what we need is a backdoor for law enforcement to be able — when they can establish that that communication poses a risk to our safety and engages in terrorism — to get a court order and go in and access those communications. Allow the companies to continue encryption, provide an entryway for law enforcement when they can prove to a court that there’s a sufficient risk, when there’s an attack upon us, that they have the right to look at those messages.” Marco Rubio Photo: John Locher/AP Rubio has made it clear that he wants the federal government and the private sector to share more information as a way to prevent cyber- and terrorist attacks. He’s also publicly supported the Foreign Intelligence Surveillance Act . And during Tuesday’s debate, he doubled down on his commitment to mass surveillance. “We are now at a time where we need more tools, not less tools,” the Florida senator said , criticizing the limits on metadata collection in the USA Freedom Act. Rubio’s willingness to expand programs that collect the private information of Americans signals an apparent willingness to compromise encryption for the same reasons. Ted Cruz Photo: John Locher/AP The Texas senator has towed a libertarian line when it comes to surveillance legislation in the past. As a candidate whose campaign runs on an explicit distrust of big government, it makes sense that Cruz would vote for the USA Freedom Act — a move that has earned him scorn from Rubio. During Tuesday’s debate, he argued that the bill’s mandate to transfer mass phone data collection from the NSA to phone companies actually gave more tools to pinpoint terror threats. However, cybersecurity activists worry that Cruz is uneducated on the intricacies of these policies, after an Oct. 15 video surfaced of the senator admitting to a crowd in Iowa that he was unfamiliar with CISA — a bill that critics say allows companies to monitor their customers and share their information with the government without warrant. Donald Trump Photo: John Locher/AP Trump has made many a reference to building walls, and some of them even appear to be cyber in nature. Though the Republican presidential frontrunner has not explicitly addressed encryption issues, he has suggested we shut off ISIS’ Internet connection, and expressed concern that the group is “using the Internet better than we are,” despite the fact that it “was our idea.” During the debate, he elaborated as best he could. “I wanted to get our brilliant people from Silicon Valley and other places and figure out a way that ISIS cannot do what they’re doing,” he said . “You talk freedom of speech, you talk freedom of anything you want. I don’t want them using our Internet to take our young impressionable youth.” Trump could be referring to the issue of encryption, or something much simpler. But anyone who’s willing to ban a world religion from the country might be willing to do the same for an essential element of consumer technology. Ben Carson Photo: Mike Blake/Reuters The retired brain surgeon has made virtually no mention of encryption on the campaign trail. But when it comes to assuring potential donors that their credit card information is safe, his website has a whole page on it: “Carson America uses a secure socket layer (SSL) with the highest level of encryption commercially available for www.bencarson.com on pages where online visitors register or make a secure online donation using their credit card.” That being said, Carson has said he’s open to the surveillance of mosques, churches and schools. Who knows whether that would entail the compromise of encryption technology? Chris Christie Photo: John Locher/AP In early 2015, Christie signed a law that required health insurance companies in New Jersey to encrypt client information, signaling he understands its importance. Still, the New Jersey governor has made his support for the NSA and government surveillance very clear, praising the provisions in the Patriot Act, and calling for the extension of intelligence-gathering capabilities. The fact that he’s publicly criticized Edward Snowden, and sparred with Rand Paul about these issues suggests he’d overhaul encryption if that meant even a hint of access to potential terrorist activity. Rick Santorum Photo: Mike Blake/Reuters Though the former senator from Pennsylvania has made no explicit mention of encryption, his voting record speaks for itself. Santorum voted for the Patriot Act in 2001, and said he’d do it again today. He’s also criticized Paul’s stance on the issue, saying “hopefully Rand Paul won’t prevail, that the Senate will do what it must do, which is to keep our defenses up and follow through with a plan that balances the interests,” Santorum replied. “It’s always a [balance] between security and freedom, and that’s in every aspect of our [lives].” That balance would likely mean that he’d prefer the government has access to encrypted communication for the sake of national security. Mike Huckabee Photo: Mike Blake/Reuters Huckabee, though not the race’s expert on online surveillance, has most definitely been vocal about the issue. He’s been known to publicly criticize unregulated monitoring by the NSA , arguing that the Patriot Act has gone too far. The former Arkansas governor has even said he’d repeal “Obama’s warrantless NSA spying program” if he became president. However, his comments about cybersecurity have caused experts to question his technological knowledge of the government’s digital capabilities in general. So, though he’s made no explicit mention of encryption, it’s possible that he, like so many other candidates, might not understand it. Related: Following Paris attacks, encryption services face new scrutiny Here’s the manual ISIS uses to teach its soldiers about encryption How encryption works and why people are so freaked out about it || The myth of Mariana's Web, the darkest corner of the internet: Chances are, like me, the first time you heard about the Dark Web it was described as a foul and depraved marketplace, where children, drugs, and pirated movies could be bought for mere Bitcoin. Tabloids paint it as a place where a veritable "Top 10" of our biggest fears resides. Opportunistic security companies sell threat intelligence services that allude to hunting for bad guys in dark dens that deal in organ harvesting, involuntary human experiments, and more. Like most people, I find the siren song of lurid, spooky bullshit to be irresistible. And the Dark Web's boogeyman aura is all about spooky bullshit. That's despite the fact that the Dark Web is host to a lot of communities that aren't doing anything nefarious (unless you think furries are evil; there's a huge Dark Web furry social network that simply wants privacy). But the organ harvesting dramatics are nothing until we get to the "deepest part of the web, where people don't want you to go," the so-called "Mariana's Web." The legend of Mariana's Web appears to get its name from the deepest part of the ocean, Mariana's Trench. It's supposedly the deepest part of the web, a forbidden place of mysterious evil -- or at least, that's the mythos a subset of online believers has cultivated. Depending on where you get your Mariana's Web myths, it's where you'll find "the darkest secrets humanity has in its history," the secret location of Atlantis and "the Vatican secret archives," or a database of archives belonging to the most powerful intelligence agencies on Earth. Many believe that Mariana's is home to an all-powerful, female artificial intelligence entity . Mariana's Web is certainly the definition of spooky BS, especially because it's technically impossible; it's supposedly only accessible through quantum computers -- which currently only exist in science fiction. Story continues Yet to the chagrin of people who love facts, it's slowly starting to be reported as fact. Copy or Embed This Whisper Direct Link Embed Download on the App Store Download on Google Play Get App That's probably not a surprise if you've been watching infosec-challenged traditional media try to cover the finer points of hacking, let alone anything outside Google's reach. But seeing anecdotes and myth start to bubble up into areas that may affect people's actual decisions about risk and safety ... Well it's entertaining, but also worrying when anecdote is substituted for data in an area that often involves law enforcement. That infosec firm clients are asking for threat intel packages to include Mariana's Web is information that is also anecdotal, though it's my anecdote, and one I recently heard first-hand. But that new twist, my friends, isn't just the result of clickbait or security company sales drama -- it's the result of this fake infographic . An epic troll that people have interpreted as fact . I don't know why people don't read things carefully, or avoid fact checking, or want to believe in Atlantis and invisible beings. But I'm glad they do, because it sure makes doing research on dry-as-desert threat intel services way more entertaining. Fingers crossed that the TV take on the very fictional Mariana's Web comes from The X-Files , and not CSI: Cyber -- or CNN. [Image credit: Shutterstock] || DA Davidson Favors Lifeway Foods Over Dean Foods: On Thursday, DA Davidson analyst Eric M. Gottlieb explained why he prefers Lifeway Foods, Inc. (NASDAQ: LWAY ) over Dean Foods Co (NYSE: DF ). In two separate reports, the expert issued a Buy rating on Lifeway and a Neutral rating on Dean. In addition, the analyst issued a 12–18 month price target of $14 and a 5-year price target of $25 for the former, and a 12–18 month price target of $19 and a 5-year price target of $21 for the latter. Lifeway Foods While the company has been around for almost 30 years, analyst Eric Gottlieb at DA Davidson believes that it is “just starting to gain momentum.” The report pointed out a few issues related to the Buy thesis. First off, Gottlieb feels that “mainstream America, with their changing views on healthy living, appears now more ready than ever for kefir,” a product similar to a drinkable yogurt. However, the mass is still uneducated regarding the product’s benefits. Related Link: Dean Foods Falling After Morgan Stanley Downgrade Secondly, Gottlieb stated that the company’s new Wisconsin production facility unlocks further potential. Moreover, since “Lifeway Foods has already begun executing its plan to increase awareness, production capability, and distribution,” it’s only a matter of time before sales explode as its markets expand. Dean Foods On the other hand, Gottlieb does not see so much potential in Dean Foods. The expert noted that, while branded initiatives should help the company deliver wider and more stable margins, a declining milk demand dampens its growth prospects. “Milk prices should remain manageable in FY2016, which should provide at least a short-term opportunity for some success, while the operational turnaround continues to add benefits. Looking further out, milk prices will likely be cyclical and create periods of outperformance and underperformance,” the note expounded. Disclosure: Javier Hasse holds no positions in any of the securities mentioned above. Image Credit: Story continues Latest Ratings for LWAY Dec 2015 DA Davidson Initiates Coverage on Buy Mar 2015 Imperial Capital Upgrades In-line Outperform Nov 2014 Imperial Capital Maintains In-line View More Analyst Ratings for LWAY View the Latest Analyst Ratings See more from Benzinga 16 Stocks Moving In Friday's After-Hours Session Trade Options? Here's How To Get Involved In Bitcoin Citi Pair Trade In Hardware: Buy Cisco, Sell F5 © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
$408.20 #bitfinex;
$407.88 #bitstamp;
$407.00 #btce;
$406.28 #coinbase;
#bitcoin #btc via #ThePriceOfBTCpic.twitter.com/UaVZa3e4e8 || LIVE: Profit = $15.05 (1.08 %). BUY B3.65 @ $380.00 (#VirCurex). SELL @ $382.14 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 14 exchange pair(s), yielding profits ranging between $0.00 and $421.39 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000003
Average $1.4E-5 per #reddcoin
00:15:01 || $395.00 #bitfinex;
$390.99 #coinbase;
$388.96 #bitstamp;
$385.88 #btce;
#bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $2.0E-5 per #reddcoin
15:00:01 || In the last 10 mins, there were arb opps spanning 12 exchange pair(s), yielding profits ranging between $0.00 and $681.47 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000003
Average $1.2E-5 per #reddcoin
01:15:00 || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000004 Average $1.7E-5 per #reddcoin 06:31:00 via #p…pic.twitter.com/l3xoKfsPiQ || In the last 10 mins, there were arb opps spanning 18 exchange pair(s), yielding profits ranging between $0.00 and $143.29 #bitcoin #btc
|
Trend: no change || Prices: 380.29, 379.47, 378.26, 368.77, 373.06, 374.45, 369.95, 389.59, 386.55, 376.52
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-08-28]
BTC Price: 4382.66, BTC RSI: 70.00
Gold Price: 1309.70, Gold RSI: 71.35
Oil Price: 46.57, Oil RSI: 43.64
[Random Sample of News (last 60 days)]
Bitcoin is exploding in Venezuela but not for the reason you think: As Venezuela suffers its worst meltdown in history, with inflation skyrocketing and basic necessities running in short supply, many have taken to bitcoin mining in a bid to survive, according to a report in the current issue of the Atlantic. The reason? Electricity is now cheaper and more affordable in the crisis-hit country than most basic goods. That's because under President Nicolás Maduro , electric power is heavily subsidized to the point that it's essentially free, the Atlantic said. Bitcoin mining works like this : Miners use computer hardware to perform complex computations that ultimately create each new link in the bitcoin blockchain the massive, decentralized ledger technology that underpins the cryptocurrency. In return, they are rewarded with bitcoin. One of the key requirements to mine bitcoin is to have a large supply of power. The Atlantic explained that a Venezuelan user who can run several bitcoin mining devices can clear about $500 a month that is considered a small fortune enough to feed a family of four and purchase vital goods such as baby diapers or insulin from overseas. But authorities have begun cracking down on mining operations, according to the Atlantic. The report explained that because the country does not have cryptocurrency laws, police are arresting miners on "spurious" charges. That move has driven miners deeper underground and some are reportedly moving into ethereum for higher profits. Reading the full story about the rise of bitcoin mining in Venezuela here. WATCH: Should you invest in a cryptocurrency? More From CNBC Tech investors use a Tinder-like app to score meetings with hot companies There is now a Google test for depression and mental ill health This is the new iPhone App Store coming in September || Is Surfing The Dark Web lllegal?: The dark web is a non-mainstream part of the internet. Basically, it shows those search results, which are not indexed by search engines such as Google and Bing. It requires special software to access. Once a user is inside the so-called dark web, he/she can surf websites and other web-based services can be accessed the same way a user access the web usually. The dark web is used for selling illegal drugs and firearms, payment for which is received in cryptocurrency such as Bitcoin. An important thing to note is that the dark web, which is also known as the deep web is also used for manipulation and even hacking of cryptocurrency. Users can also purchase fished credit card information. That being said, unless you are using the dark web for illegal purposes, just accessing un-indexed search results is not illegal, but what you view or purchase will determine the legality. Read: Phishing Scam: Man Stole Bitcoins From Dark Web Forums There is also a lot of depraved content available, which might not be illegal but still extremely creepy . Also the dark web has also been used for surfing child porn, for which a person was arrested in the U.K. on Friday. Surfing the dark web in no way means that you are out of the reach of the law. Many U.S. agencies have agents surfing the dark web someone you meet in a dark web chat room might be a cop. In fact, an FBI agent recently revealed that a coordinated international police investigation took down dark net marketplaces such as Alpha Bay and Hansa. Andrei Barysevich, director of advanced collection at threat intel firm Recorded Future, said about the takedown, "The coordinated closure of two of the most popular underground marketplaces shows the level of sophistication and, most importantly, the willingness of international law enforcement agencies to combat cybercrime jointly." "The successful takedown of AlphaBay and Hansa marketplaces the largest police operation since SilkRoad has already significantly disturbed the underground economy, and I expect to see the level of cybercrime go down in the short term. Despite recent news, we don't expect criminals to abandon dark web marketplaces, as the business opportunity of exposure to hundreds of thousands of buyers is too lucrative, and as we have seen before, eventually new market leaders will arise, filling the void." Story continues If you do plan to use the dark, the most important thing would be to proceed with a lot of caution. In the dark web chances of being scammed out of your money are even higher than the regular internet. One thing you should do is to cover your webcam with tape, as you might be secretly recorded. Also, never download any software or plugin from the deep web as it could be used to hack into your system. Also dont access your private documents while surfing the dark web. The ethical status of dark web is also controversial. According to privacy activists such as the Electronic Frontier Foundation, users of the dark web are just people concerned about their privacy. With revelations of government snooping by agencies such as the NSA, FBI and CIA, this is not surprising. Read: AlphaBay Offline: Dark Web Market May Have Disappeared In Bitcoin-Stealing Exit Scheme Journalists, to contact whistleblowers and activists including Edward Snowden, have used the dark web in the past. That being said, a cursory glance at any databases of dark web websites will reveal that it is being majorly used for illegal activities. Related Articles Russian Hackers Stole UK Ministers' Emails And Passwords, Sold On Dark Web Welcome To The School Of Hacking || GOLDMAN SACHS: It looks like demand for Teslas has peaked: Tesla Model 3 (Goldman Sachs said Tesla was likely to miss its production targets for the $35,000 Model 3.AP Photo/Justin Pritchard) Demand for Tesla's Model S sedan and its Model X SUV appears to have peaked, Goldman Sachs analysts said as they downgraded their outlook for the company. Tesla on Monday said it delivered 22,000 vehicles in the second quarter, fewer than analysts including Goldman's David Tamberrino had expected. Deliveries slowed from a record of 25,000 cars in the first quarter amid issues with the largest battery pack for Tesla's electric cars. "We believe the excess production above deliveries, the discontinued 'order rate' metrics, and the company’s 2H17 guidance (Model S and Model X deliveries to likely exceed) in combination with the past four quarters of delivery results point to a plateauing of demand for its current products," Tamberrino and his colleagues wrote in a note released Wednesday. Goldman slightly reduced its forecast for vehicle deliveries this year and forecast "moderate growth" from 2018 through 2021: a 5% compound annual growth rate versus 13% prior. It lowered its six-month target price on the stock to $180 from $190, implying a 49% decline from Monday's closing price of $352.62. Tesla shares were down by about 1.5% in premarket trading on Wednesday. Tesla is preparing for the first deliveries of its Model 3 vehicles on July 28. Tamberrino forecast that the company would miss its production targets for the $35,000 sedan in the second half of the year. Though the Model 3 is going out two months earlier than Goldman had forecast, Tamberrino remained cautious since Tesla has historically missed delivery and production targets. "We still harbor supply chain concerns and believe a more prudent curve is warranted given historical operational execution," he said. NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy More From Business Insider One of the best tech upgrades I've made to my car cost me less than $30 The best Amazon Prime Day deals members can get starting today GOLDMAN SACHS: Bitcoin could see a big drop then surge to almost $4,000 || Ethereum jumps 10% amid worries about bitcoin in a wild day for digital currencies: Digital currency ethereum climbed Monday to a near two-month high amid renewed uncertainty about the future of bitcoin.
Ethereum(Exchange: ETH=)traded about 10 percent higher near $330 Monday afternoon, after earlier rising 15 percent to $347.05, its highest since June 23, according to CoinMarketCap. At its session high, the site's data showed ethereum had gained 70 percent for the month and more than 4,000 percent for the year.
"I think the gains in ethereum are part of the market's reaction to the increasingly fractured bitcoin community," said Benjamin Roberts, co-founder and CEO of Citizen Hex, an ethereum-focused start-up backed by three Canadian venture funds.
Ethereum 7-day performance
Source: CoinMarketCap
Bitcoin(Exchange: BTC=-USS)traded more than 1 percent lower near $4,055.88, according to CoinDesk, well off a record high of $4,522.13 hit last Thursday. Even with the last few days' decline of about $500, bitcoin remained about 40 percent higher for August and more than quadruple in value for the year.
The decline in price came as digital currency enthusiasts have increasingly focused on the potential of an upgrade proposal called SegWit2x to split bitcoin again in November, just months after its Aug. 1 split into bitcoin and bitcoin cash.
Bitcoin cash traded 15 percent lower near $603, down more than $450 from Saturday's record high of $1,091.97, according to CoinMarketCap. The bitcoin offshoot still held gains of nearly 200 percent from a low of $210 hit on the day of the split Aug. 1.
Meanwhile, investors gained more confidence in a smooth upgrade for ethereum's network, a proposal called "Metropolis" expected in the next several weeks that should improve transaction privacy and efficiency.
Other factors contributing to ethereum's gains Monday included steady demand from South Korean investors and news that London-based online trading company IG also launched support for trading ethereum on Monday.
Trade in South Korean won accounted for about 30 percent of trading in ethereum, according to CryptoCompare. Bitcoin accounted for nearly 29 percent and the U.S. dollar about 25 percent, the site showed.
Traders were also using bitcoin to buy digital currencies such as Monero, a cryptocurrency focused on making transactions confidential and untraceable.
According to CoinMarketCap, Monero surged more than 70 percent Monday to a record high of $95.08, marking gains of nearly 140 percent for the month.
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• Companies that make the semiconductors for cryptocurrency mining have been a hot-button topic in the investment world, with the fate of their stocks closely tied to the prices of bitcoin and ether
• Hedge fund Carlson Capital has a fund that's lost 14.2% this year because of bad short wagers on Nvidia and Advanced Micro Devices
The meteoric rise ofbitcoinis rippling through financial markets, and not everyone is enjoying the ride.
The scorching-hot cryptocurrency has tentacles that stretch into many different parts of the investment landscape, and some traders are finding out the hard way how much influence it can wield.
Just ask the unfortunate souls who have been trying to short chip makers and learning the hard way that their share prices are closely linked to interest in bitcoin. The stocks of companies likeNvidiaandAdvanced Micro Devices, which make chips used to mine, or produce, bitcoin — a process that involves heaps of computers solving complex equations — have surged alongside the cryptocurrency, destroying the short positions.
Short sellers betting against those two companies have lost a combined $1.8 billion this year as Nvidia has skyrocketed by 57% and AMD has climbed by 16%, according to data provided by the financial analytics firmS3 Partners.
And the fallout is already beginning.
The Dallas-based hedge fund Carlson Capital's $1 billionBlack Diamond Thematic fundlost 14.2% this year through July, and it blamedbitcoinfor the hit, according to a client update reviewed by Business Insider.
The fund chose chipmakers as its top short theme earlier this year, citing "high inventories, double ordering, massive capex supply responses and actual pockets of weakening demand in smartphones, autos, and the Chinese optical market."
Needless to say, that hasn't translated into weak share prices — and now Carlson has an ax to grind with the massively popular cryptocurrencies it sees keeping the space afloat to an unsustainable degree.
"The sector has turned into something of a bubble characterized best by the surge in GPU stocks, Advanced Micro Devices and Nvidia, driven by a cryptocurrency mania," portfolio managers Richard Maraviglia and Matthew Barkoff wrote in the fund's second-quarter investor letter. "We believe the other side of this incredibly powerful consensus move in technology will be very profitable for us but to date, it has been a significant drag on performance."
As for those directly trading bitcoin, the ride has been bumpy but ultimately quite lucrative. It's up by more than 200% in 2017 alone, minting big profits for traders willing to take a chance on such a speculative entity.
(Bitcoin has surged more than 200% this year.Markets Insider)
But by no means does the burgeoning cryptocurrency mania start and end with bitcoin. There's also ether, the bitcoin rival, which is powered by theEthereumblockchain. It has been gobbling up market share, surging from 5% of the cryptocurrency market in January to 30% as of June 22. In fact, until June, ether was on track to surpass bitcoin as the world's largest digital currency.
Regardless of whether bitcoin, Ethereum, or another vehicle strikes your fancy, the process of mining for new blocks requires the same kinds of semiconductors. So as cryptocurrencies go, so do the stock prices of the companies making those chips.
And as Carlson doubles down on its bearish chipmaker stance, other hedge funds are proving happy to chase the runaway performance of cryptocurrencies.
Last Friday, the activist investorElliott Management disclosed a 6% stake in NXP Semiconductorsand said it was pushing for a higher price in the company's pending $38 billion sale to Qualcomm.
Elliott did not specifically cite the white-hot cryptocurrency industry and its effect on chipmakers in a regulatory filing. After all, semiconductors are also crucial components for smartphones, a familiar stomping ground for the world's biggest company. So any bet on the industry can also be read as a play on Apple.
But even if Elliott's investment has nothing to do with cryptocurrencies, some market watchers will still interpret it that way.
And that line of thinking represents the new reality facing investors of all types: This area of the market is attracting and churning through billions of dollars, so either adjust to it or risk getting caught off guard.
This article has been updated to reflect bitcoin's recent year-to-date growth above 200%.
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• STOCKS DO NOTHING: Here's what you need to know || Dollar index holds steady ahead of Fed meeting minutes: Dollar little changed vs. rivals with FOMC meeting minutes on tap Investing.com - The dollar remained broadly higher against the other major currencies on Wednesday, as tensions between the U.S. and North Korea continued to ease and as markets were eyeing the release of U.S. data later in the day. The greenback strengthened broadly after data on Tuesday showed that U.S. retail sales rose at a faster than expected rate in July . A separate report showed that the Empire State manufacturing index climbed to 25.20 in August from 9.80 the previous month, blowing past expectations for a reading of 10.00. It was the highest level since September 2014. Market participants were looking ahead to U.S. reports on building permits and housing starts, due later in the day, as well as the minutes of the Fed’s most recent policy meeting for indications on another potential rate hike this year. EUR/USD was little changed at 1.1732. The euro initially dropped following reports European Central Bank President Mario Draghi will not deliver any fresh monetary policy message at the U.S. Federal Reserve's Jackson Hole conference. The report tempered expectations that the ECB is moving closer to announcing plans to scale back its monetary stimulus program. But sentiment on the single currency improved after preliminary data showed that the euro zone economy grew at a faster rate that expected in the second quarter . The pound moved higher, with GBP/USD up 0.19% at 1.2895, off a one-month trough of 1.2843 hit overnight. Demand for sterling was boosted after official data earlier showed that the U.K. jobless rate unexpectedly dropped in June while wage inflation registered a stronger-than-expected increase Elsewhere, USD/JPY rose 0.24% to 110.92, the highest since August 4, while USD/CHF held steady at 0.9732. Demand for the safe-haven assets continued to weaken since North Korea said on Tuesday it had delayed a decision on a plan to fire missiles at the U.S. Pacific territory of Guam while it watches U.S. actions a little longer. Story continues The Australian and New Zealand dollars were stronger, with AUD/USD up 0.49% at 0.7860 and with NZD/USD adding 0.17% to 0.7250. Meanwhile, USD/CAD slipped 0.16% to trade at 1.2737, just off Tuesday’s one-month peak of 1.2778. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 93.77, close to Tuesday’s three-week high of 94.04. Related Articles Bitcoin holding above $4,000 after pulling back from record highs Forex - Sterling higher after UK jobs, wage data Forex - Euro falls to days lows as ECB tapering expectations dim || Advanced Micro Devices, Inc. (AMD) Stock Rides the Bitcoin Boom: InvestorPlace - Stock Market News, Stock Advice & Trading Tips Since the last time I wrote about Advanced Micro Devices Inc. (NASDAQ: AMD ) a month ago, AMD stock has risen nearly 20%. Credit the boom in Bitcoin. Source: Matthew Rutledge via Flickr Bitcoin, Ethereum and other cryptocurrencies are not created by government fiat, but mined by private individuals who search for valid answers to their encryption puzzles. Each answer represents a “coin,” and each coin then has a value created through an open market ledger. Fast processors bring faster answers to the puzzle. Cheaper, faster processors lower a miner’s costs. AMD, since it has cheap, fast processors, is naturally going to benefit when mining goes into overdrive. But, what mining gives , mining can also take away, as AMD shareholders have also learned recently. As Bitcoin prices have fallen — they’re down by about one-third since mid-June — the bears have also come out for AMD stock. Will AMD Deliver? AMD has a much lower market cap than any popular chip stock, making it more volatile, which in turn makes it of greater interest to traders and those who go in and out of stocks regularly. 7 Stocks to Buy to Get in on the Internet of Things For investors, however, what matters is momentum in sales and profits. For the quarter ending in June, analysts aren’t expecting much: either a 1 cent profit (or loss) on revenue of $1.16 billion being close to the profit of 8 cents per share and sales of $1.027 billion achieved a year ago. It would certainly beat the loss of 8 cents per share, and sales of $984 million, achieved last quarter, however, and that’s why AMD stock is generally rising. AMD players don’t look a year behind or a year ahead. They look at today, perhaps at a quarter, plunging in and out on rumors. The Bitcoin boom and bust are examples of that. AMD stock fell 6% in one day recently , simply because the price of Ethereum continued its own dramatic fall. Story continues The fact is, such moves are silly. Mining represents a small part of AMD’s sales. Game systems and cloud servers are where the money is made, and this is where AMD is making its biggest gains , thanks to its low-power designs and its graphics chips. Small Means Action Again, AMD is much smaller than rivals such as NVIDIA Corporation (NASDAQ: NVDA ), where it competes in graphics, and Intel Corporation (NASDAQ: INTC ), where it competes on processors. What may look like a bump in the road for Intel is a mountain to AMD. The same is true with NVIDIA. And, this can have a dramatic impact on the price of AMD stock. While it is interesting that AMD is “toeing the launching pad,” as Joseph Hargett wrote recently, what should matter to investors is whether the present gains are sustainable. Richard Saintvilus thinks the gains are, and believes AMD stock could hit $15 by the end of the year, delivering a solid gain. Amazon.com, Inc. (AMZN) and VMware, Inc. (VMW) Are Teaming Up Again While anything is possible, I think it more likely that AMD is going through the same boom-and-bust cycle it has seen in previous generations of chips. Intel moves slowly, but it moves, and that will be the case this time. It has vast resources with which to design and build new processors that do everything AMD does, and more. This will happen. When it does, a year or so from now, AMD is not where you will want to be. But, as previously mentioned, AMD shareholders don’t think that far ahead. If you can stand the volatility, if you pay careful attention, and if you don’t fall in love with your AMD investment, you can still make some money here. Just keep an eye on it. As Bitcoin investors will tell you, action can go both ways. Dana Blankenhorn is a financial and technology journalist. He is the author of the historical mystery romance The Reluctant Detective Travels in Time , available now at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn . As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace 7 Tech Stocks That Aren't Bothered by Washington 10 Dogs of 2017 That Will Become 2018's Best Stocks to Buy 3 Tech Stocks That Belong In Every Retirement Portfolio The post Advanced Micro Devices, Inc. (AMD) Stock Rides the Bitcoin Boom appeared first on InvestorPlace . || Mark Cuban Backs Cryptocurrency Fund After Saying Bitcoin Is a Bubble: Billionaire investor and Bitcoin doubter Mark Cuban is coming around on cryptocurrency . Despite saying Bitcoin was a bubble in early June, Cuban has backed venture capital firm 1confirmation, according to Bloomberg . The firm not only has plans to invest some $20 million in companies developing blockchain technologies , but it also wants to invest in early stage companies before they head into an initial coin offering (ICO)—a fundraising effort in which the offering company issues tokens rather than ownership stakes. Founded by Runa Capital principal Nick Tomaino, 1confirmation hopes an early stage investment in a promising albeit unproven company could lead to a discounted token price once young company holds an ICO, according to Bloomberg. 1confirmation also hinted that it hopes to add value to the companies it invests in to bump up its ICO pricing. There's founders in the blockchain ecosystem that aren't spending time marketing & doing an ICO pre-product; they're heads down building — 1confirmation (@1confirmation) August 22, 2017 That approach may not get a lot of attention in the short-term, but it's likely the best way to build for the long-term — 1confirmation (@1confirmation) August 22, 2017 It’s not the first time Cuban has gotten involved in an ICO. Cuban also plans on participating in a fundraising round of sports-betting blockchain platform Unikrn , meaning his latest investment could result in him indirectly owning more than one kind of cryptocurrency. Read: 5 Ways Businesses Are Already Using Blockchains ICOs have caught fire recently , at least among investors like Cuban. One major selling point is that while traditional methods of investing in a young company usually means holding onto the stake for a long period of time, tokens are far more liquid. If an investor wants out of a company, they can usually trade the company’s coins for Bitcoin of Ether, which can in turn be traded for fiat currency, according to the Harvard Business Review . Story continues Meanwhile, cryptocurrencies have surged in recent months , with Wall Street consistently raising Bitcoin’s value higher and higher. This is part of Fortune’s new initiative, The Ledger , a trusted news source at the intersection of tech and finance. || Elon Musk took a jab at Volvo while talking about the Tesla Model 3's crash test: tesla model 3 volvo s60 side impact crash test (A view of the Tesla Model 3's side-impact pole crash test.Tesla/YouTube) Tesla CEO Elon Musk took a jab at Volvo while talking about safety features on the Tesla Model 3, his company's new entry-level electric car. During a handover event at Tesla's factory in Fremont, California, Friday night, Musk showed a video that he said displayed side-by-side clips of a Model 3 and a 2016 Volvo S60 undergoing the same crash test. The test is a type of side-impact crash simulation that mimics a car colliding sideways into a pole at 20mph which, in this test, would typically cause major damage to the driver-side door and a portion of the roof. The video appeared to show that the Volvo S60, which achieved a five-star crash safety rating in all categories according to the National Highway Traffic Safety Administration, was damaged more severely than the Model 3. "There's a lot of cars that say they're five-star they are five-star though that's not a scientific metric," Musk said. "Even something like the Volvo great car. By normal standards, very safe. The Volvo is arguably the second-safest car in the world," he said, eliciting laughs and applause from the audience. "It is obvious which car you would prefer to be in, in an accident." Watch the moment below, starting at the 4:14 mark: There was some confusion about that test, after some internet commenters suggested the Volvo S60 was crashed at a higher speed than the Model 3. But the side-by-side comparison in the video above does appear to show two identical side-impact pole collisions occurring at 20mph according to NHTSA documentation, and Tesla confirmed in an email to Business Insider that the side-impact tests in the video were indeed the same. Musk has made such a comparison in the past, hailing Tesla's crash safety as the best in the world, a statement that has caught the attention of some industry veterans because Volvos have a longstanding reputation for safety. The company even has a plan to eliminate crash deaths in its new cars by 2020 . Story continues Volvo XC90 front crash (A Volvo XC90 crash test.Volvo Car Group) It started with the seat belts The 90-year-old Swedish automaker was the first to install three-point seat belts in a car in 1959 and has achieved top ratings in crash-test categories for decades. Business Insider asked Volvo Cars US CEO Lex Kerssemakers last year for his take on Musk's ambition to have Tesla dethrone Volvo as the safest cars on the road. "In the end, we need to create a society where 33,000 people aren't killed [in auto accidents] every year, so I can only encourage him in making safe cars," Kerssemakers said of the Tesla CEO. "I know which is the safest car company, and were not going to give that up," he said. The Volvo executive said that ultimately he's not concerned with titles, saying vehicle safety is a long-term journey. "It's not about 'we've got to win this year and that year.' We collect data from real-world accidents, and we've got a really good idea how cars react in different accident scenarios," Kerssemakers said. Tesla has previously taken a less charitable view of Tesla crash-test results that were anything less than perfect notably after a recent test of a Model S that received the Insurance Institute for Highway Safety's (IIHS) second-highest rating in a frontal collision . Tesla hit back at the IIHS, suggesting the agency was motivated by "subjective purposes." NOW WATCH: TOP STRATEGIST: Bitcoin will soar to over $20,000 by cannibalizing gold More From Business Insider With the Model 3, Elon Musk put the focus exactly where it should be Tesla's employees Elon Musk on Model 3: 'We're going to go through at least 6 months of production hell' I just drove the Tesla Model 3 and it changes everything the entire world will want this car || Authorities bust AlphaBay, the dark web's biggest marketplace: After the demise of Silk Road , the role of the dark web's most notorious black marketplace was assumed by AlphaBay. But The Wall Street Journal reports that the site has now been shuttered, thanks to a joint law enforcement operation between the US, Canada and Thailand. One of its operators, Canadian Alexandre Cazes, was arrested in Thailand, but was found dead in his prison cell earlier this week. AlphaBay was used to sell narcotics, stolen financial data, methods to commit internet fraud and weapons, reportedly earning millions of dollars each week. But questions linger on where exactly all of the profit has gone, with the paper reporting that the site's other founders have absconded with millions in Bitcoin. AlphaBay was previously in the news after a vulnerability in the site's code enabled people to read private messages on the site. The revelation prompted other black markets , such as Hansa Market, to launch bug bounty programs to protect themselves against similar leaks. It's not clear if AlphaBay's flaw helped the authorities, but the move will likely encourage other sites to get better at security and privacy.
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin just passed $4,000 - http://www.allcryptocurrencies.news/bitcoin/bitcoin-just-passed-4000/ …
What a day for Bitcoin. 24 hours ago the cr... || 2017-08-14 20:00~21:00のBitcoin市場は反落だったようだ。
変化率は-0.8772%
22:00までは反騰かな?
直近の市場の平均Bitcoinの価格は462715.0円
#ビットコイン
#bitcoin
#AI || Wrong @MarketWatch, #BitCoin is actually up $245 in past week & almost hit a record of $2903 at 2:00 EST on Tues. #BitcoinCash #bitcoinforkhttps://twitter.com/MarketWatch/status/892429841370411010 … || Bitcoin, Ethereum, Ripple, Bitcoin Cash: Price Analysis, August 13 - CoinTelegraph: http://ift.tt/2fCypq7 - #Blockchain - August 13, 201… || 2017-08-20 17:00~18:00のBitcoin市場はよこばいだったみたいだね。
変化率は0.1933%
19:00までは反騰になる?
直近の市場の平均Bitcoinの価格は454541.0円
#ビットコイン
#bitcoin
#AI || Alibaba running ripple validator via /r/CryptoCurrencyhttp://ift.tt/2hWXAoh || Get Paid FREE Bitcoin In Seconds From Now http://getmyfreebitcoin.com/?jaysabangan#.WY_m1li7LeQ.twitter … || Try fatguyslim at https://LocalBitcoins.com/ad/165494?ch=w7m … only £3,515.00 per BTC. (BPI +2.72%) #buy #bitcoin #banktrans || Cotizaciones al 17/08/2017 04:00 PM
Bitcoin (BTC): 23.982.513
Ethereum (ETH): 1.674.989
Litecoin (LTC): 243.170
BTC Cash (BCH): 2.130.694 || BTC Real Time Price: ThePriceOfBTC: $4086.48 #GDAX;
$4073.69 #bitstamp;
$4118.84 #kraken;
$4080.00 #gemini;
$4159.03 #cex;
$4062.43 #hitbtc;
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Trend: no change || Prices: 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Has yuan become Russia's new dollar?: Russia could use the Chinese yuan to bypass the crippling sanctions imposed by the west. Photo: Reuters (Florence Lo / reuters) Russia could use the Chinese yuan to bypass the crippling sanctions and SWIFT payment ban imposed by the US and its allies . One rouble now buys less than one US cent, causing ordinary Russians to flock to stores of value such as gold and bitcoin ( BTC-USD ) to protect themselves from the fallout. As Putin's armoured divisions roll closer to Kyiv, his country's economy rolls closer to the abyss, and speculation has grown that Moscow will resort to using cryptocurrencies as a financial back-channel. However, there is simply not enough volume and liquidity within crypto markets to offset the disruption that sanctions will have on the Russian economy. This leaves the Kremlin with another option: to use the Chinese yuan and Beijing's CIPS international payment system for cross border trade. Disconnecting Russia from world finance could thus create an unwanted side effect for the west, the birth of a new global economic system based upon the Chinese yuan. Read more: 'Crypto lobby groups are dictating terms in Washington' Steve H Hanke, professor of applied economics at Johns Hopkins University, told Yahoo Finance UK that "disconnecting Russia from the dollar-based system won't have much of an impact on the dollar initially, but in the long run it might be a different matter". The senior economist added that the act of removing Russia from the SWIFT dollar-denominated international payments system “has weaponised and contaminated SWIFT”. "This will make room for challengers to the dollar-denominated international system." Read more: Steve Hanke: The value of bitcoin is probably zero The major challenger is China's Cross-border Interbank Payment System, or CIPS. China’s competitor to the dollar-based SWIFT system was created in 2015 and currently only handles a fraction of the international claims settlements that are completed by the SWIFT system. But this imbalance could begin to tilt in China's favour if Russia is forced to rely upon it for international trade. Story continues Watch: Digital currencies: China will get there first, says Hammond State media in China likened the SWIFT ban on Russian banks to “a financial nuclear weapon”, but also welcomed it as an opportunity for Beijing’s CIPS. Hanke said the recent political interference with SWIFT was “accelerating the development and use of CIPS, regardless of whether Russia utilises it or not". Russian reliance upon CIPS will allow China to develop the yuan's use outside the country’s borders. Chinese president Xi Jinping's pet infrastructure project, the Belt and Road Initiative, has also helped to introduce the yuan overseas. But Steve Tsang, director of the SOAS China Institute, said that there is still only marginal use of the yuan and it is "still nowhere near being a global currency". "While Russia will make more use of the yuan, the yuan cannot replace the dollar as the global currency as full convertibility is required for any currency to be accepted as a full global currency or a major reserve currency.” The Chinese government is unwilling to allow the yuan to be freely traded in case they lose control over its value. Read more: Ukraine to sell NFTs to fund war costs In the past, Beijing has been accused of strict mercantilism, after claims that the yuan was being artificially undervalued against the US dollar to give Chinese exports an unfair price advantage. Geopolitical analysts are anxious about the future, as Hanke suggests that sanctions have a record of failing to meet their desired objectives. He said that the full economic isolation of Russia could create a "nightmare scenario in which an 'enormous North Korea' emerges, one with nukes". Tsang sees signs the world is on a trajectory towards a new Cold War in which "Russia and its close allies will form one bloc and the democracies led by the west forming another". However, he added that China will maintain a cautious approach that will be pragmatic for its own interests and avoid "attracting secondary sanctions against Chinese institutions". Anders Corr , publisher of the Journal of Political Risk, reinforced the view that sanctions against Russia would “drive the country towards China’s economy, through which it will have to do most of its business until the sanctions are lifted”. Corr believes Russia’s tilt towards China will give Beijing immense bargaining power. Read more: Can you live in London for 24hrs using only bitcoin? He said that Moscow “may in future have to accept contracts denominated in yuan or even a 10% discount for its exports compared to world market prices”. Beijing would certainly welcome the increased trade in much needed Russian commodities at record low prices. Russia is already running a trade surplus with China, with major exports of oil, gas, coal and wheat being channelled towards its resource southeastern neighbour. Chinese state banking regulators have already made it clear they will continue to maintain normal economic and trade exchanges with Moscow. If Moscow begins to use CIPS it would further Beijing’s ambitions to slowly erode the world's dollar-dominated financial system. Xi Jinping may well welcome Putin’s commodities in exchange for Chinese yuan and both autocrats could walk hand in hand down the road to “de-dollarisation”. Watch: Steve Hanke responds to Milton Friedman's cryptocurrency predictions || Penn National Stock Is No Longer Too Much of a Gamble: Penn National Gaming(NASDAQ:PENN) stock benefited tremendously from the pandemic. But it hasn’t all been roses since then, judging by the current $100 hair cut it has suffered more recently. Still, in the long term, PENN stock should do well because it stands to benefit from several prevailing and sustainable trends.
Source: Casimiro PT / Shutterstock.com
Life is almost back to normal after the virus derailed our routines for almost two years. Yes, the use of masks is not likely to go away but at least hospitality businesses are back in business. Furthermore, sports are back on, so the betting business should starting gaining momentum soon.
Gaming in general is quick to recover because many people are drawn to it. Unless we suffer another surprise setback, the fundamental thesis for Penn is back on track. Before long, things will normalize and the company will be stronger. Management has proven its competency from having lived through the pandemic.
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UnlikeDraftKings(NASDAQ:DKNG) Penn lost its bid to operate in NY. But that’s just one setback of a huge addressable market potential. Besides, the company operates in 20 states and on several levels. Its partnership with Barstool Sports also widens its opportunity net.
Online gaming is exciting with more states legalizing it, but there is more to the PENN story than that. Penn National Gaming is huge in the regional gaming business. Losing out on one bid isn’t going to derail the company.
Source: Charts by TradingView
Case in point, despite the competition, sales grew 45% according to Penn’s February report. In addition, management seems efficient since they generated over $1 billion in cash from operations. Revenues last year were 60% larger than 2019, so it wasn’t a fluke. Other than 2020, they have carried a positive net income at least since 2015.
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Value investors are not likely to squawk about its current metrics. The price-to-earnings ratio is 18x and the price-to-sales ratio is 1.23x. The harsh PENN stock correction brought those financials in line. Even if they don’t seem attractive, at least they won’t be a repellent either.
Technically there are signs of upside potential. When a stock hits a level and bounces off it twice, it could signify an interim bottom. The upside potential from this could extend 30% maybe even past $60 per share. But first the bulls will have to contend with a wall of resistance near $50 per share. Once they break through it, they can sling shot much higher to tackle the rest. Since this is a technical thesis, it would be best to set stop loss levels for safety.
While charts inspired this idea, fundamental investors can also adopt it. PENN stock is now hovering just above its pandemic breakout levels. Having lost 70% of its value, selling it much lower from here is tough. There are likely buyers lurking everywhere below current levels. If the markets in general stabilize, PENN is pretty close to a mid-term bottom. This makes today’s technical idea double as a mid-term swing investment too.
I’ve shared opinions on PENN before and my previous analyses fit perfectly with this one. In July of last year, prices were too high for comfort, soI raised a cautious flag. Back then I had “grave short term concerns” that panned out to be correct. But today, I am reiterating my more optimistic expectations. Today, PENN stockprice is near the marker I called the “better base” last November.
On the date of publication, Nicolas Chahinedid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postPenn National Stock Is No Longer Too Much of a Gambleappeared first onInvestorPlace. || Penn National Stock Is No Longer Too Much of a Gamble: Penn National Gaming (NASDAQ: PENN ) stock benefited tremendously from the pandemic. But it hasn’t all been roses since then, judging by the current $100 hair cut it has suffered more recently. Still, in the long term, PENN stock should do well because it stands to benefit from several prevailing and sustainable trends. Penn (PENN) National Gaming logo on the website homepage. Source: Casimiro PT / Shutterstock.com Life is almost back to normal after the virus derailed our routines for almost two years. Yes, the use of masks is not likely to go away but at least hospitality businesses are back in business. Furthermore, sports are back on, so the betting business should starting gaining momentum soon. Gaming in general is quick to recover because many people are drawn to it. Unless we suffer another surprise setback, the fundamental thesis for Penn is back on track. Before long, things will normalize and the company will be stronger. Management has proven its competency from having lived through the pandemic. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Unlike DraftKings (NASDAQ: DKNG ) Penn lost its bid to operate in NY. But that’s just one setback of a huge addressable market potential. Besides, the company operates in 20 states and on several levels. Its partnership with Barstool Sports also widens its opportunity net. Online gaming is exciting with more states legalizing it, but there is more to the PENN story than that. Penn National Gaming is huge in the regional gaming business. Losing out on one bid isn’t going to derail the company. How to Approach PENN Stock Today Penn National Gaming (PENN) Stock Chart Showing Potential Base Source: Charts by TradingView Case in point, despite the competition, sales grew 45% according to Penn’s February report. In addition, management seems efficient since they generated over $1 billion in cash from operations. Revenues last year were 60% larger than 2019, so it wasn’t a fluke. Other than 2020, they have carried a positive net income at least since 2015. 7 Growth Stocks That Trade at Attractive Valuations Story continues Value investors are not likely to squawk about its current metrics. The price-to-earnings ratio is 18x and the price-to-sales ratio is 1.23x. The harsh PENN stock correction brought those financials in line. Even if they don’t seem attractive, at least they won’t be a repellent either. Technically there are signs of upside potential. When a stock hits a level and bounces off it twice, it could signify an interim bottom. The upside potential from this could extend 30% maybe even past $60 per share. But first the bulls will have to contend with a wall of resistance near $50 per share. Once they break through it, they can sling shot much higher to tackle the rest. Since this is a technical thesis, it would be best to set stop loss levels for safety. While charts inspired this idea, fundamental investors can also adopt it. PENN stock is now hovering just above its pandemic breakout levels. Having lost 70% of its value, selling it much lower from here is tough. There are likely buyers lurking everywhere below current levels. If the markets in general stabilize, PENN is pretty close to a mid-term bottom. This makes today’s technical idea double as a mid-term swing investment too. I’ve shared opinions on PENN before and my previous analyses fit perfectly with this one. In July of last year, prices were too high for comfort, so I raised a cautious flag . Back then I had “grave short term concerns” that panned out to be correct. But today, I am reiterating my more optimistic expectations. Today, PENN stock price is near the marker I called the “better base” last November . On the date of publication, Nicolas Chahine did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Get in Now on Tiny $3 ‘Forever Battery’ Stock It doesn’t matter if you have $500 in savings or $5 million. Do this now. Stock Prodigy Who Found NIO at $2… Says Buy THIS Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post Penn National Stock Is No Longer Too Much of a Gamble appeared first on InvestorPlace . || Is Kidpik Stock a Sell Following Earnings? Yes. And Here’s Why: Kidpik(NASDAQ:PIK), a subscription-based e-commerce company that sells apparel for kids, footwear, and accessories has reported its fourth-quarter and full-year 2021 report a few days ago, at the end of March. Shares of Kidpikhave losses of nearly 39% year-to-dateso the question to ask now: is PIK stock a buy following earnings? The answer is no, the earnings make PIK stock a sell, here is why.
Earnings are a key catalyst for forming short-term and long-term stock moves. It is suggested to read below the top headlines like “29% Increase in Net Revenue for Full Year 2021.”
Starting with the good news first, Kidpik for Q4 2021 reported a gross margin of 58.7%, a year-over-year. increase of 120 basis points, and an average shipment keep rate of 70.8%, compared to 64.8% in the fourth quarter of 2020. That’s all the good news for the quarter.
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Unfortunately, the bad news was more. For start, revenue declined year-over-year 10% to $5.3 million, shipped items declined to 477,000 compared to 589,000 shipped items a year ago and the net loss was $1.9 million or $0.28 loss per share. Back in the fourth quarter of 2020, Kidpik had reporteda net loss of $1.29 millionand earnings per share (EPS) basic and diluted of -$0.17.
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Turning to full-year 2021 financial results, revenue increased to $21.8 million, a year over year increase of 28.9% representing the second consecutive year of sales growth, after the 25.28% growth in 2020. Gross margin expanded to 59.5% versus 58.4% in 2020 and Kidpik seems to have momentum as shipped items increased to 2.2 million items, compared to 1.7 million shipped items in 2020. Furthermore, the average shipment keep rate increased to 69% compared to 66.1% last year. This is very positive but what makes PIK stock a sell now are the following reasons.
It is a money-losing business reporting a net loss of $5.9 million, or $1.05 loss per share. This is a widening loss compared to a net loss of $ 4.6 million and $4.19 million in 2019 and 2020 respectively.
Total expenses grew 37.7% in 2021and “Loss from operations increased to $5,663,286 for the year ended January 1, 2022, compared to $3,665,811 for the year ended January 2, 2021.”
Another very worrisome factor is thatSimply Wall Streetstates that Kidpik has asevere cash burn problemwith less than a year of cash runway based on its current free cash flow.
Kidpik has a cute website and business too but not a cure stock. Avoid the PIK stock as it struggles to turn profitable and is burning cash. There are many other penny stocks to pick now that offer greater and stronger fundamentals and more attractive valuation.
On the date of publication, Stavros Georgiadis, CFA did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Stavros Georgiadis is a CFA charter holder, an Equity Research Analyst, and an Economist. He focuses on U.S. stocks and has his own stock market blog atthestockmarketontheinternet.com. He has written in the past various articles for other publications and can be reached onTwitterand onLinkedIn.
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The postIs Kidpik Stock a Sell Following Earnings? Yes. And Here’s Whyappeared first onInvestorPlace. || FOREX-Euro edges higher, Norwegian crown falls: * Euro edges higher, cautious over Ukraine peace talks
* Focus back on the ECB after strong inflation data
* Norwegian crown falls tracking moves in oil prices
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
By Stefano Rebaudo
March 31 (Reuters) - The euro edged higher on Thursday extending a run of gains on hopes for progress in Ukraine peace talks, while investors’ focused on the European Central Bank’s potential monetary tightening after strong inflation data.
Analysts remain cautious about further euro gains as Russian forces prepared for new attacks in the east of Ukraine, while no quick resolution is expected from peace talks that will resume on Friday.
The euro rose 0.05% to $1.1160 after hitting its highest since March 1 at $1.1184.
“Until the risk of an energy crisis and considerable economic effects resulting from the Ukraine war have not been banished, the ECB is likely to hesitate to make a clear commitment,” Antje Praefcke, forex analyst at Commerzbank, said in a note to clients.
“And as a result, it will also be a while before the euro can appreciate on a sustainable basis,” she added.
Money markets are currently pricing in an around 90% chance of 20 basis points (bps) of ECB rate hikes by July 2022 and 65 bps by year-end.
European Central Bank President Christine Lagarde said on Wednesday inflation should stop rising after data in Spain and Germany showed a higher-than-expected rise in consumer prices.
The dollar index, which measures the U.S. currency against six peers, dipped 0.04% to 97.795.
The Norwegian crown fell around 0.7% against the euro and the dollar respectively to 9.6162 and 8.6176 after oil prices plunged as the United States considered releasing up to 180 million barrels from its strategic petroleum reserve.
The Norwegian currency remains within striking distance of reaching its highest since October 2018 against the euro at 9.4424 and its highest since November 2021 versus the dollar at 8.5675, which it hit last week on the back of a rally in Brent crude oil futures.
Other commodity currencies, such as the Australian and New Zealand dollar, dropped by around 0.4%.
The Swedish crown was slightly lower against the euro, just off its highest since January of 10.3059 that it hit on Wednesday as the central bank said it would have to tighten monetary policy this year.
Bitcoin was down 0.3% at $47,149, while Ether , the world's second-largest cryptocurrency, was up 0.4% at $3,400. (Reporting by Stefano Rebaudo; Editing by Jane Merriman) || Vitalik Buterin's Dad on Ukraine, Censorship and Decentralization: Russian-Canadian computer programmer and entrepreneur Dmitry Buterin may have introduced his son Vitalik to Bitcoin – the first step in a chain of events that led to the development of the most-used blockchain today, Ethereum, that Vitalik co-founded – but he doesn’t put much store in his place in crypto history.
Dmitry, who often goes by the Russian diminutive, Dima, is a modest and thoughtful man. Now semiretired after a successful career in software engineering, Dima spends his free time reading philosophy and going for walks. He takes pictures of the simple pleasures of nature –frost on a tree limb, the first flowers of spring. And he gets more fulfillment advising early-stage crypto projects, and running the educational company BlockGeeks, than playing Vitalik’s Dad for the media.
This article is excerpted from The Node, CoinDesk's daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the fullnewsletter here.
Buterin, like many other true believers in crypto, relishes in complexity. The so-called “world computer,” Ethereum, is at the center of a techno-economic revolution affecting everything from banking to the backbone of the web. But as big as this project is, it will work best if built of smaller, discrete parts.
“Right now, the most creative decentralized projects are designed by techies,” Dima said in a recent interview with The Node. Ethereum’s success, he thinks, is largely due to its design, which makes it easy for anyone to build or use its crypto-powered applications. Likewise, some of the world’s most deranged problems stem from the centralization of power and influence.
Born in the Soviet Union, and later a citizen of Russia and Canada, Dima has been an outspoken critic of authoritarians the world over – including Russian President Vladimir Putin. Long before Putin invaded Ukraine, causing the death of thousands and the displacement of millions, Dima was willing to call the president an “autocrat.” “Corruption has seized the highest levels of the state,” he said recently.
Crypto has emerged, perhaps surprisingly, as a useful lifeline for those impacted directly by the war. Coming up on a month since Russia’s invasion, the Ukrainian government has raised over $100 million in various cryptocurrencies for military and civilian needs. Millions more are being routed to charitable efforts, through vehicles like Ukraine DAO (short for decentralized autonomous organization) or direct, on-chain donations.
But crypto may take on an even larger role during and after this crisis. By privileging free-market organization and the decentralization of authority, these novel protocols support new systems that might ensure no one like Putin can gain power again, Dima said. “It feels to me that this whole situation will lead the next big push towards adoption of crypto,” he said. This emphasis on decentralization is why Dima thinks crypto platforms should not join in blanket sanctions of all Russian people.
Decentralization – and the profit-motive – are double-edged swords, however. Last week,Time magazinepublished the latest in-depth profile of Vitalik, where the Ethereum creator urged the industry to think more critically about the things being built or how the system is used. The most profitable programs – like needless NFTs or dead end DAOs – aren’t always the ones the world needs most, he said. It’s a position Dima agrees with, who said technologists need to focus on “human” problems.
See also:A Possible Russian Crypto Ban and Vitalik's Synthetic Womb| Podcast
Below is a lightly edited transcript of our conversation covering the Ukrainian war, Jeff Bezos’ yacht and the importance of building tech that empowers people.
Crypto seems to be reckoning its place in global finance. Do you think centralized crypto exchanges or service providers have a moral obligation or political duty to sanction Russian users?
Here's how I think about this: The war in Ukraine is horrible – people are in pain, they are without food and water and hiding in bomb shelters for longer than two week. Right now the top priority for the world is to stop this depravity. People may purge native [Russians], inflict as much pain on Putin and his supporters, hoping this will make them stop. It makes total sense emotionally, right? But in any difficult situation, there will be a lot of knee-jerk reactions.
I want to do everything I can in my power to stop this war. But it doesn't make a lot of sense. The average crypto user who's using some kind of centralized exchange, they’re not likely to be one of Putin’s oligarchs or to benefit from this conflict.
There are many educated people who actively oppose Putin – they’re basically hostages in their own country. Whether they protest or stay silent, cutting them off from access … I think the cure is becoming worse than the disease. But I also totally understand why people call for those kinds of matters.
Similarly for DeFi platforms – these supposedly open financial platforms that in theory can’t levy sanctions. Is this a proving ground for that position?
Very much. Who knows – the skeptics may be right. But it feels to me that this whole situation will lead the next big push towards adoption of crypto. We already see how useful and important it’s been in supporting Ukraine. I have personally donated a chunk of money to a bunch of initiatives. The latest reports show they’ve brought in over $100 million just through crypto – directly, quickly. The layers of bureaucracy have been instantly eliminated and made unnecessary. So that's awesome.
With sanctions, life is quickly becoming very hard in Russia for many people whether they support Putin or not. We have to be careful in how we deal with that. I'm sure we will see attempts in Russia, by the government or industries, to go around sanctions using crypto. It's inevitable. For me, the question is how do we support these people while destroying this crazy autocratic regime. Crypto is a great instrument to do that.
See also:Ukraine Fundraisers Bring Out the Best, and Worst, in Crypto| The Node
Corruption has seized the highest levels of the state, and is even seen in places abroad where Russian oligarchs have bought foreign politicians. So even if [crypto] is used by governments, institutions and oligarchs, it's a wonderful way to introduce transparency. Trying to stop little transactions is futile and likely not directed towards the right people. But it reasonably becomes much easier for us to understand huge flows of money if Russian [institutions] use crypto to evade sanctions. And we can figure out a way to deal with that.
The deputy minister of digital transformation in Ukraine said crypto is more “convenient” than traditional crowdsourcing means. Are you thinking about alternative ways to deploy crypto beyond simple, on-chain crowdsourcing?
I think it's already happening. There'sUkraine DAO– I have, and I believe Vitalik has donated money. We will see more and more of that. But DAOs are still quite inefficient. The way they are structured is very organic. Right now we're in emergency mode, and when you're in emergency mode, creating a DAO, figuring out its mission, delegating decision making and stuff like that takes time. So in the short term it’s easier to pursue less complicated methods.
But I'm pretty sure we’ll see impactful [experiments]. For example, I've seen a database that people are using to document the war crimes that Russia has committed in Ukraine. Volunteers are submitting pictures. Implementing a DAO structure on that might become feasible longer-term, so that contributors can maybe get paid. Maybe there could be some kind of reputation system that helps verification or streamline fact-checking.
Are you 100% focused on crypto, and where do you think the biggest opportunity is for entrepreneurs in crypto right now?
I am, if you will, semi-retired. I'm still involved in a bunch of things and doing some angel investments and mentoring and coaching and have this company I co-founded. Like 95% of what I'm involved in is improving crypto because it is the most interesting, most exciting space. It's a new wave of technology.
In terms of opportunity, I think Web 3 is entering the era of mass adoption. We found all those weaknesses and problems with centralized platforms and are now building solutions. It’ll be important to maintain focus on what is really foundationally important, the decentralized aspects of those systems.
When I look at something like Solana – it’s a wonderful short-term solution. It’s efficient, cheaper, blah, blah, blah, but I am not impressed with the way they are for decentralization, so it's of no interest to me. But it gets to the other opportunity in crypto: good user experience.
Right now, the most creative decentralized projects, you know, are designed by techies. We need to start thinking about that. Even if you look at crypto wallets, most are very generic. You can hold your crypto, your NFTs. But as an NFT collector, I would actually love to have a dedicated, features-specific wallet. Or maybe I'm more of an investor, so it's more about day-to-day transactions. So figuring out the user journey – what people want to do – without pushing technology in their face is where the potential is. Designing systems that are user friendly, and also address huge societal issues – like censorship and spam.
Considering that crypto is always embedded in legal and cultural systems that can make it infeasible to use crypto – even if you can still transact on-chain – is it a fool's errand to try to attempt to bring “digital money” into real life?
No, I don't think it's a fool's errand at all. I think it's a very viable effort. For smart people in technology, it's very common to end up being over focused on technology – how sophisticated, how wonderful, how complicated this is! – and not think through those “last mile” problems. The human aspects – censorship resistance and whatnot – can change the features of Bitcoin. There are solutions for the biggest problems being developed.
What we see in those protests in Canada or the situation in Ukraine: It's really a moment of showing the weaknesses of our current centralized systems. We learned to trust these big centralized systems like: “Hey, Facebook, store my data, hey, bank, store my money, hey, Twitter, store my past.” Now we see that they're misusing their power. They're censoring us, selling our data to advertisers, printing money and all that.
See also:Bitcoin's Censorship-Resistance Was a Step Change in History
This process that started with Bitcoin, with keeping our own money, is not easy. People learn quickly that if they lose their phone and don't backup their seed phrase, nobody is there to help. This is a really hard wake-up call. So we have to be careful, but there is no doubt there is a transition happening before our eyes that is solving real, human problems.
It's really a wonderful time for all of us to people who are already involved in the decentralized movements to help other people learn more about self-sovereignty, new organizations – all that. This Web 3 crypto bubble is finally enveloping the whole world.
I'd be remiss if I didn't ask about Vitalik. Do you remember his first word?
No idea. You know, he actually started verbalizing later. He was actually much better with writing – he mastered verbalization later in his childhood. Actually, when he was, I think, four, we gave him our old IBM PC, and he was using Excel. He quickly learned to type numbers into cells and play with formulas. So, numbers were kind of his first language, if you will. || Germany seizes $25 million in bitcoin as it shuts down a Russian-language darknet marketplace for illegal drugs: Bitcoin had a market cap of $874 billion in early April. Jirapong Manustrong/Getty Images German authorities said Tuesday they seized $25 million worth of bitcoins while shutting down a darknet marketplace. The authorities confiscated 543 bitcoins worth in closing down the Hydra Market drug marketplace. Hydra Market had at least $1.32 billion in sales turnover in 2020 alone. German law enforcement authorities said Wednesday they've shut down what was likely the world's largest darknet marketplace and in doing so seized hundreds of bitcoins worth more than $25 million. The Russian-language darknet site called Hydra Market had been accessible through the Tor network since at least 2015, Germany's Central Office for Combating Cybercrime, or ZIT, and the Federal Criminal Police Office, or BKA, said in a joint statement. The authorities confiscated 543 bitcoins that were valued at about €23 million ($25 million) following investigations tracing back to August 2021. They said several US authorities were involved in the probes. The marketplace had around 17 million customers and more than 19,000 seller accounts were registered on the site which focused on trading in illegal narcotics, the German agencies said. "In addition, data spied out worldwide, forged documents and digital services were offered profitably via the platform," they said, according to a translation of the press statement. Sales at Hydra Market were at least €1.23 billion euros in 2020. ZIT and BKA said the site's Bitcoin Bank Mixer, a service for obfuscating digital transactions provided by the platform, made crypto investigations "extremely difficult" for law enforcement agencies. News of the seizure arrived a day after the US Department of Justice said it seized $34 million worth of cryptocurrency tied to illegal dark web activity. The seizure took place through a civil forfeiture filing against a South Florida resident who was "raking in millions" by using an online alias to sell more than 100,000 illicit items and hacked online account information on several of the world's largest dark web marketplaces. The Florida filing marked one of the largest cryptocurrency forfeiture actions on record in the US, said the DOJ. Read the original article on Business Insider || IMF Targets Cryptos in Latest Global Financial Stability Report: Key Insights: On Tuesday, the IMF highlighted the use of crypto assets in emerging markets to bypass capital restrictions and sanctions. The IMF’s Global Financial Stability Report called for a coordinated approach to crypto-assets. In January, the IMF pressed for a global regulatory framework to mitigate risks associated with financial interconnectedness. It’s been a love-hate relationship for the crypto market in 2022. While politicians across some crypto jurisdictions have embraced crypto and the broader digital asset class, others have been less than impressed. Agencies from several jurisdictions have also raised red flags over cryptos and the broader virtual space. One vocal agency has been the International Monetary Fund (IMF), once headed by ECB President Christine Lagarde. On Tuesday, the IMF released its quarterly Global Financial Stability Report . This quarter, the IMF paid more attention to crypto assets. IMF Pushes for Crypto Global Standards in Response to Ukraine War The IMF discussed the “widespread use of crypto assets in emerging markets to bypass capital restrictions and sanctions” The IMF then discussed the “risks of cryptoization and sanction evasion through the crypto ecosystem.” Here, the IMF noted a sharp increase in crypto asset trading volumes in some emerging market currencies. According to the report, “A more structural shift toward crypto assets as a means of payment and/or store of value could pose significant challenges to policymakers.” The IMF highlighted a pronounced increase in stablecoin trading volumes in Turkey and in Russia following the introduction of sanctions and the use of capital restrictions in Russia and Ukraine. In terms of sanctions evasion, the IMF noted that, “The crypto ecosystem could allow users to circumvent such requirements through several means, including (1) the use of exchanges and other crypto asset providers that are non-compliant with sanctions and/or capital flow management measures; (2) poor implementation of adequate due diligence procedures by crypto asset providers; and (3) the use of technologies and platforms that increase the anonymity of transactions.” Story continues The IMF then turned to crypto mining, another hot topic of the year, stating, “Mining for energy-intensive blockchains like Bitcoin ( BTC ) can allow countries to monetize energy resources, some of which cannot be exported due to sanctions.” Once more, the IMF called for “A coordinated regulatory approach to crypto-assets,” adding, “Implementation of the existing Financial Action Task Force standards is key to mitigating financial integrity risks that might give rise to illicit capital flows. Laws and regulations for foreign exchange and capital flow management measures should be reviewed and amended if necessary to cover crypto assets even if they are not classified as financial assets or foreign currency.” IMF Echoes Its January Call for a Global Regulatory Framework In January, the IMF released a blog titled, Crypto Prices Move More in Sync with Stocks, Posing New Risks. The blog discussed the maturing of crypto assets, such as Bitcoin, into an integral part of the digital asset revolution, raising financial stability concerns. IMF concerns stemmed from a growing interconnectedness between cryptos and equity markets that would allow market shocks, which could destabilize financial markets. The IMF’s concerns aligned with the Bank of England. The Bank of England put cryptos back under the regulator spotlight in December. Due to the increased attention, the crypto market slid from November 2021 highs. On November 10, Bitcoin hit an ATH of $68,979 before tumbling to a January and current year low of $32,991. Bitcoin (BTC) Price Action At the time of writing, BTC was down by 0.27% to $41,391. BTC rose by 1.70% on Tuesday, following on from a 2.83% gain on Monday, with the crypto market brushing aside the IMF’s report. Near-term BTC will need to avoid sub-$40,000 to support a run at $45,000. Technical Indicators Bitcoin will need to avoid the day’s $41,284 pivot to make a run on the First Major Resistance Level at $41,976. Bitcoin would need broader market support to break out from $41,500 levels. In the event of another extended rally, Bitcoin could test the Second Major Resistance Level at $42,451 and resistance at $43,000. The Third Major Resistance Level sits at $43,619. A fall through the pivot would bring the First Major Support Level at $40,809 back into play. Barring an extended sell-off, Bitcoin should avoid sub-$40,000. The Second Major Support Level at $40,117 should limit the downside. A fall through the pivot would bring support levels into play. Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bullish signal. Bitcoin continues to sit above the 50-day EMA, currently at $40,885. This morning, the 50-day EMA narrowed to the 100-day EMA, providing support. The 100-day EMA held steady against the 100-day EMA. A move through the 100-day EMA would support a return to $43,000 levels. A Bitcoin move through the 100-day EMA would bring $43,000 into play. This article was originally posted on FX Empire More From FXEMPIRE: Silver Prices Slid as the Dollar and Yields Extend Gains U.S Secret Service Hits Cybercrime with Crypto Seizures of over $100m Seven Common Trading Mistakes USD/JPY Set Up for Reversal Top Amid Intervention Fears EUR/USD Tests Resistance At 1.0810 Framework Ventures Launches $400M DeFi and Web3 Gaming Fund || US stocks closed mixed as massive Netflix sell-off weighs on the Nasdaq: Streaming service Netflix (NFLX) carries thousands of movies and TV shows Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images US stocks ended Wednesday's session mixed, with Netflix's rout pressuring the Nasdaq. Netflix lost more than $50 billion in market cap during the trading day after reporting a loss of subscribers in Q1. Dow industrials pulled out a win as blue-chip companies reported strong earnings. US stocks closed mixed Wednesday, with the Nasdaq turning lower as Netflix's stock took its worst beating in years on an unexpected decline in quarterly subscribers. The Dow Jones Industrial Average rose, powered in part by IBM and Procter & Gamble , which both reported strong earnings. But the tech-rich Nasdaq pulled back ahead of earnings late Wednesday from electric vehicle maker Tesla . During the day, concerns about how consumers may be shifting spending in the face of high inflation helped drive down Netflix shares by more than 30%. The company late Tuesday said it lost 200,000 subscribers in its first quarter and forecast a loss of another 2 million in its current quarter. The stock during the session slid by the most in a decade and erased more than $50 billion in market capitalization. Shares of Disney and other streaming services were punched lower on the alarm from Netflix. Here's where US indexes stood at 4:00 p.m. on Wednesday: S&P 500 : 4,459.44, down 0.06% Dow Jones Industrial Average : 35,160.79, up 0.71% Nasdaq Composite : 13,453.07, down 1.22% Bill Ackman's Pershing Square appears to have racked up a $400 million unrealized loss on the Netflix bet he made just three months ago. Still, analysts remain upbeat about earnings season overall and what it means for the stock market this year. "Recent market trends remain intact [with] ongoing relative strength in traditionally defensive sectors (staples, utilities) vs. longer-term growth sectors (technology) and continued resilience in energy," wrote Tom Hainlin, global investment strategist at U.S. Bank Wealth Management, in a note to Insider. "Corporate fundamentals remain positive and support rising equity prices with full-year 2022 S&P 500 EPS estimates inching higher, but companies' profit margin outlook amid rising input prices remain a key focal area." Story continues Elsewhere in the markets, Russia faces a potential default after using rubles to make payments on dollar bonds, according to an industry-group ruling. "The Big Short" author and investor Michael Burry warned Tesla 's rivals would catch up with the electric-vehicle maker, just as Netflix 's competitors are curbing its growth. Oil prices advanced. West Texas Intermediate crude picked up 0.8% to $103.41 per barrel. Brent crude, the international benchmark, rose 0.8% to $108.13. Gold fell 0.3% to $1,953.60 per ounce. The 10-year yield fell 9 basis points to 2.84%. Bitcoin turned lower, down 0.6% at $41,064.63. Read the original article on Business Insider || Why did Elon Musk spend $2.9 billion to join Twitter’s board of directors? Here are 3 likely reasons: Elon Musk disclosed a 9.2% stake inTwitterworth $2.9 billion on Monday, and on Tuesday he got a seat on the board of directors.
According to anSEC filing, Musk will serve as a Class II director, and his term at the company will expire in 2024. During his tenure, Musk won’t be able to own more than 14.9% of common stock.
TheTeslaCEO is a famously active user—and critic—of the platform, using it to shakemarkets, argue with politicians, makepredictions, and promote his companies. He has also criticized it for failing to protect free speech.
Already the world's richest man (unless you believe Musk that Russian President Vladimir Putin is "probably" richer than he is), buying Twitter won’t make him any richer. However, it will give him more power over the platform he actively uses, and he already promised that changes are coming.
But what does he really want? There are three leading possibilities.
Last year, after the Jan. 6 insurrection, Trump was kicked off the platform. Musk, who has actively advocated for free speech on Twitter, gave some hope this week that his board seat could mean a Trump Twitter comeback.
https://twitter.com/elonmusk/status/1507259709224632344
Republican lawmakers and social media users alike called on the Tesla CEO to restore the former president’s Twitter privileges after Musk announced he had purchased a stake in the social media platform.
https://twitter.com/TaxReformExpert/status/1511331575039934470
Congresswoman Marjorie Taylor Greene, who has served as the U.S. representative for Georgia since 2021 and occupies a post-Trump far-right position on Twitter and in Republican politics, also took to the platform to request that Elon Musk restore free speech on it.
https://twitter.com/RepMTG/status/1510961167841349641
However, the company has dismissed this link. A spokesperson for Twitter toldtheDaily Mail,“Our policy decisions are not determined by the Board or shareholders, and we have no plans to reverse any policy decisions.”
Musk also flirted with the idea of, like Trump, creating his own rival social media platform,musing about the possibilityduring the very time, we now know, that he was acquiring Twitter shares. Now that he is both a majority shareholder and sits on the board of directors of Twitter, this won’t be necessary anymore, and he could be motivated to implement the vision he had for his social media platform on Twitter.
Musk knows how to use Twitter to his advantage and has historically used the platform to promote his companies, acquisitions, and thoughts. He is almost always trending.
More than a CEO, Elon Musk is a brand, and he has used this status to promote his companies and eliminate the need for advertising, and Tesla's main advertising platform is Musk's Twitter account. Just one tweet from the Tesla CEO can get tremendous news coverage.
To compare it to other vehicle brands, in 2019,Hyundaispent $2,000 in advertising per vehicle sold. On the other hand, Tesla spent just 14 cents, according toNewsthink.
If you compare Musk's following to those of other car brands, he surpasses them by millions. Currently, he has 80.9 million followers, while Hyundai USA has 409,000,Hondahas 1.1 million, andVolvohas 230,600, just to name a few.
Or take the case of Dogecoin. In 2020, Musk posted a tweet showing a cloud of dust with a Shiba Inu face (which represented Dogecoin), taking over a city (which represented the global financial system). Just this one tweet made thecurrency soar 20% in valueand cemented the power of Musk's Twitter feed.
https://twitter.com/elonmusk/status/1284291528328790016?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1284291528328790016%7Ctwgr%5E%7Ctwcon%5Es1_u0026ref_url=https%3A%2F%2Fwww.newsweek.com%2Feverything-elon-musk-has-said-about-dogecoin-1584242
The following year, he continued tweeting about the cryptocurrency. His posts caused an increase in the value of the Bitcoin alternative's sales, according toNewsweek.
https://twitter.com/elonmusk/status/1357914696645414913?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1357914696645414913%7Ctwgr%5E%7Ctwcon%5Es1_u0026ref_url=https%3A%2F%2Fwww.foxbusiness.com%2Ftechnology%2Felon-musk-dogecoin-son
Now Musk is using Twitter to announce that Tesla will allow people to buy brand merchandise using Dogecoin. Again, Twitter was a tool that was invaluable for Musk's brand and his business.
https://twitter.com/elonmusk/status/1481873421390680065
Musk has also used the platform to leverage himself by posting outlandish predictions about the future, some of which are literally out of this world.
https://twitter.com/SpaceHub_SL/status/1503370052472553476?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1504173360456077313%7Ctwgr%5E%7Ctwcon%5Es2_u0026ref_url=https%3A%2F%2Ffortune.com%2F2022%2F03%2F24%2Felon-musks-future-predictions-for-crypto-mars-tesla-neuralink%2F
By becoming Twitter's largest shareholder, Musk isn't just saving millions in advertising, he's safeguarding a fundamental part of his business interests.
As soon as Musk officially joined Twitter's board, he was writing a typically provocative tweet, creating a poll asking Twitter users if they wanted an edit button.
https://twitter.com/elonmusk/status/1511143607385874434?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1511143607385874434%7Ctwgr%5E%7Ctwcon%5Es1_u0026ref_url=https%3A%2F%2Fwww.engadget.com%2Felon-musk-twitter-edit-button-043143988.html
The answers are misspelled, saying “yse,” and “on” instead of “yes” and “no,” making his point that it would be good to have the ability to edit a tweet after posting.
Parag Agrawal, Twitter's current CEO, immediately validated Musk’s poll by retweeting it and saying the question was important.
https://twitter.com/paraga/status/1511152454418644995
However, adding an edit button to the platform is not so easy. Jack Dorsey, Twitter's cofounder and former CEO, has been against it in the past, saying Twitter will “probably never” add an edit button.
In a video Q&A withWiredin 2020, Dorsey argued that the social network started as a text messaging service, and text messages can’t be edited after being sent.
It's also still unclear how an edit button would work. Would retweets also change if the original tweet is edited? Would users be able to edit tweets indefinitely?
On April Fools’ Day, just before the Musk investment dropped, Twitter sent a joke tweet about how they were working on the situation.
https://twitter.com/Twitter/status/1509951255388504066
It was a joke until it suddenly wasn’t—maybe.
While it is uncertain what other changes might unfold from Musk’s investment, changes could come in the next few months.
https://twitter.com/elonmusk/status/1511322655609303043?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1511322655609303043%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.cnbc.com%2F2022%2F04%2F05%2Felon-musk-to-join-twitters-board-of-directors.html
The timing of Musk’s investment comes at a critical time for the company, as Agrawal, who became Twitter’s CEO in November, is already under pressure to reach the company’s internal goals. These include growing the platform to 315 million monetizable daily users by the end of next year.
While now Musk is all in with Twitter, it hasn’t always been that way. Last year aside from criticizing the company, heshared a memein which he compared Agrawal and Dorsey to Joseph Stalin and Nikolai Yezhov, who were, respectively, the dictator who ruthlessly presided over the Soviet Union from the late 1920s to early 1950s and his head of secret police during an era historians call the Great Purge.
https://twitter.com/elonmusk/status/1466074646240014340?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1466074646240014340%7Ctwgr%5E%7Ctwcon%5Es1_u0026ref_url=https%3A%2F%2Ffortune.com%2F2021%2F12%2F03%2Felon-musk-tweeted-meme-joseph-stalin-parag-agrawal%2F
But regardless of the love-hate relationship Musk has with the platform and its CEOs, it looks like the company is looking to move forward and welcome Musk with open arms.
Agrawal said Musk would be of value to the company as a “passionate believer and intense critic.”
https://twitter.com/paraga/status/1511320964813910017
Dorsey took to the platform to add to the appraisal.
https://twitter.com/jack/status/1511329369473564677
This story was originally featured onFortune.com
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 38529.33, 37750.45, 39698.37, 36575.14, 36040.92, 35501.95, 34059.27, 30296.95, 31022.91, 28936.36
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-02-23]
BTC Price: 10301.10, BTC RSI: 50.53
Gold Price: 1328.20, Gold RSI: 49.54
Oil Price: 63.55, Oil RSI: 57.63
[Random Sample of News (last 60 days)]
3 Things to Know About Claiming Social Security at 66: Though your Social Security benefits are calculated based on how much you earned during your working years, the age at which you first claim them can cause them to go up, down, or stay the same. That's why it's crucial to choose the right age to sign up for them initially. Eligible workers get an eight-year window to file for Social Security that begins at age 62 and ends at age 70. (Technically speaking, no one will force you to take benefits at 70, but there's no reason not to). And with 66 landing exactly in the middle, it might seem like a good age for you to sign up. But before you do, here are a few things you should know. Senior man holding papers and lifting up glasses on his face IMAGE SOURCE: GETTY IMAGES. 1. It may not be your full retirement age You may have heard that it's best to wait until your full retirement age to file for Social Security, because if you do, you'll get to collect the full monthly benefit you're entitled to based on your earnings record. And that's most certainly true. If your full retirement age is 66 and you file for benefits at 62, you'll reduce each monthly payment by 25%. For example, if your full monthly benefit amount is $1,500, you'll wind up with just $1,125 instead. But if you file at 66 exactly, you'll get your full $1,500. That said, while 66 is considered full retirement age for some workers, it may not be your full retirement age. Full retirement age is actually determined based on a person's year of birth, as follows: 1943-1954 66 1955 66 and 2 months 1956 66 and 4 months 1957 66 and 6 months 1958 66 and 8 months 1959 66 and 10 months 1960 67 DATA SOURCE: SOCIAL SECURITY ADMINISTRATION. What this means is that if you have a friend or colleague who was born in 1954, their full retirement age might be 66. But if you're a bit younger and weren't born until 1960, you'll need to wait an entire year longer before getting to collect your monthly benefits in full. Keep the above table in mind when deciding when to file, or you'll risk losing out on some of the money you may have been expecting. Story continues 2. It pays to take benefits if you need the cash Perhaps 66 isn't your full retirement age -- maybe yours comes a year later. But what happens if you find yourself out of work and desperate for money at 66? If that's the case, then you may want to consider taking benefits then, even though you will face a reduction in benefits. The reason? You're better off losing roughly 6.67% of your benefits -- which is what will happen if you file a year early -- than racking up credit card debt that will wind up costing you 20% a year in interest charges. While any reduction in Social Security benefits could end up hurting you if you're counting on that money in retirement, filing at 66 instead of 67 isn't nearly the same thing as filing at 62 and taking what amounts to a 30% benefits cut. In other words, if you're relatively close to full retirement age and have a reason to claim benefits immediately, you shouldn't necessarily beat yourself up over it. 3. It may be a good choice if your health is so-so One interesting thing about Social Security is that it's designed to pay you the same lifetime benefit regardless of when you initially file. Here's the logic: If you sign up at age 62 and slash your benefits by either 25%, 30%, or somewhere in the middle (depending on your full retirement age), you'll get less money each month, but you'll also get more payments than you would by waiting until full retirement age. And it works the other way, too: Sign up at full retirement age, and you won't face a benefits reduction, but you also won't collect those extra payments. This formula, however, makes one key assumption, and it's that you'll live an average life expectancy. So what if your health is OK, but not stellar? In that case, it might pay to pull the trigger on benefits at 66, even if it means doing so a year prior to full retirement age. As a general rule, the shorter your anticipated lifespan, the sooner you should start collecting benefits. If you have reason to doubt your own longevity, you might avoid losing out on Social Security income in your lifetime by filing a little early. Another point we haven't yet touched on is that, if you delay Social Security past full retirement age, you'll snag an 8% boost in benefits for each year you hold off, up until age 70 . If your health is fantastic, that's an option you'll want to consider, even if your full retirement is 66 and you're already there. But if your health is iffy, you're better off not waiting longer than necessary. Though 66 is a fairly common age to claim Social Security, be sure to keep the above factors in mind when making your personal decision. This way, you'll make the most of the benefits you've worked for all your life. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . || 4 Ways to Take Money From Your 401(k) or IRA Without Paying a Penalty: In an ideal world, everyone would leave their retirement savings untouched until they retired. However, we live in the real world, and sometimes you need to dip into your nest egg early. In fact, nearly a third of Americans who participate in a 401(k) plan have taken money out at some point before retirement, according to a 2014 study from financial services firm TIAA-CREF.
The problem is thattaking money from your 401(k)ortraditional IRAcan be costly. The IRS imposes a 10% early distribution penalty on money you withdraw before you reach age 59 1/2, and you're also subject to income taxes on the money you take out (unless you're withdrawing from a Roth 401(k) account). For small withdrawals, these costs may not be too burdensome. But if you need tens of thousands of dollars, the penalty alone can drain your bank account.
However, there are ways to take money from your tax-advantaged savings account without facing a penalty. The easiest is to simply wait until you turn 59 1/2, but if you don't have that kind of time, there are other options.
Image source: Getty Images
First, it's important to note that while youcanwithdraw your funds from a 401(k) or IRA penalty-free, it doesn't necessarily mean youshould. Even if you withdraw a relatively small amount, it can have a significant impact on your long-term savings goals.
For example, let's say you currently have $50,000 in your 401(k), you're contributing $100 per month, and you're earning a 7% annual rate of return on your investments. Here's how withdrawing $5,000 from your 401(k) would affect your savings over time, assuming you continued to contribute $100 per month:
[{"Years": "0", "Balance After $5,000 Withdrawal": "$45,000", "Balance After No Withdrawal": "$50,000"}, {"Years": "10", "Balance After $5,000 Withdrawal": "$105,724", "Balance After No Withdrawal": "$115,559"}, {"Years": "20", "Balance After $5,000 Withdrawal": "$225,176", "Balance After No Withdrawal": "$244,525"}, {"Years": "30", "Balance After $5,000 Withdrawal": "$460,158", "Balance After No Withdrawal": "$498,219"}]
In other words, that $5,000 withdrawal would cost you nearly $40,000 over 30 years, and that's not including any penalties or income taxes you may need to pay.
That being said, if you've weighed all your options and decided youneedto withdraw money from your 401(k) or IRA, there are a few situations in which the penalty is waived. Keep in mind thatonlythe penalty is waived -- not the income tax. However, avoiding the 10% fee can soften the blow to your wallet.
If you're buying your first house, you can withdraw up to $10,000 for a down payment without paying the 10% penalty. Unfortunately, 401(k) withdrawals are not eligible for penalty-free withdrawals for homebuyers, but you can withdraw money from an IRA without facing any fees.
With an IRA withdrawal, the maximum lifetime withdrawal limit for homebuyers is $10,000, and while you don't necessarily have to be a first-time homebuyer, you cannot have owned a home during the last two years. If you don't have an IRA, you can roll over money from a 401(k) into an IRA to get around the penalty. But because you can't roll over funds from your current employer, it will need to be a 401(k) from a former employer.
If that's not an option for you, you canborrow from your 401(k)instead. You can take a loan of up to $50,000 or half of the vested balance of your 401(k), whichever is less (unless half of the vested account balance totals less than $10,000, in which case you can borrow up to $10,000). Most employers require that you pay the loan back within five years, and if you leave your job before the loan is paid off, you'll likely need to pay it in full within 60 to 90 days of leaving. Finally, you will need to pay interest on the loan, but that money is deposited back into your account.
Medical bills are costly, and not everything is covered by insurance. Fortunately, if you're faced with a high bill that insurance won't cover, you can use some of your 401(k) or IRA funds to pay for it penalty-free.
There's a catch to this, though: The penalty is only waived for expenses that exceed 10% of youradjusted gross incomeand aren't covered by insurance. In addition, you have to make the withdrawal in the same year that the medical expenses were incurred to avoid paying the 10% penalty.
Even if you're unemployed, you shouldn't forgo health insurance. The average cost of a routine adult physical examination is about $200 without insurance, according to Blue Cross Blue Shield, and more expensive medical expenses, such as an emergency room visit or MRI, can cost thousands.
After you've been unemployed for at least 12 weeks, you're eligible to withdraw 401(k) or IRA funds penalty-free to pay for health insurance premiums. If you have a spouse or dependents, you can use those withdrawals to pay insurance premiums for them as well.
As with buying a home, 401(k) withdrawals used for college expenses are subject to the 10% penalty fee. However, in an IRA, there's no penalty ondistributions for qualified higher-education costs.
You can withdraw the full amount of your qualifying higher-education expenses from an IRA. The money doesn't just have to go toward your own college costs, either; it can also cover the expenses of your spouse, child, or grandchild. Qualifying expenses include tuition, fees, books, supplies, room and board, and more.
Taking money from your retirement fund should never be your first resort, but it's a possibility if you have no other options. While you'll need to work a little harder to catch up on your savings after making a withdrawal, avoiding the 10% penalty can help ensure those withdrawals won't derail your retirement goals.
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The Motley Fool has adisclosure policy. || S&P 500; US Indexes Fundamental Daily Forecast – Volatility Party Continues: U.S. stocks continued their roller coaster ride during Friday’s session with theDow Jones Industrial Averagefalling more than 500 points from its intraday high. The Dow was up over 300 points shortly after the opening before dropping more than 500 points, making the road traveled so far today about 800 points. The blue chip index is on track for its worst week since October 2008.
At 1905 GMT, the Dow has almost taken back its earlier loss. It is currently trading 23760.71, down 99.75 or -0.42%.
The major stock indexes are all recovering from their intraday lows and the momentum created by the rebound rally has put them in a position to turn higher for the session and perhaps challenge their intraday highs.
Today’s price action reveals that there is still fear in the market due to the rapidly expanding volatility and that investors are willing to buy dips as they become more value-oriented.
Despite the volatility and the selling pressure, the March E-mini Dow Jones Industrial Average survived another attempt to take out Monday’s or the week’s low at 23088.
The short-term goal for intraday bullish traders is to overcome the resistance zone at 23910 to 24164. This will give the market a slight upside bias.
The trigger point for a possible acceleration to the upside is the steep downtrending Gann angle at 24380.
The daily chart indicates there is plenty of room to the upside if buyers can sustain a rally over 24164 with 24886 the minimum upside target.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash, Litecoin and Ripple Daily Analysis – 10/02/18 || The First Thing You Should Do in 2018: A lot can change in 10 years, but one thing remains the same : The best move to get yourself on the road to a prosperous and financially secure retirement is to open an IRA. The tax benefits of IRAs include the up-front deductions for many taxpayers who contribute to traditional IRAs, tax-deferred growth during the time your savings grow inside the IRA, and tax-free distributions for those who choose Roth IRAs as their retirement vehicle. There is one wrinkle with IRAs that makes 2018 different from all the other years that I've recommended looking at IRAs. A change in the tax laws that came from the recently passed reform effort in Congress has changed the rules for IRAs, making some worried that you shouldn't be hasty with decisions about retirement accounts. For most people with predictable income, however, there's absolutely no reason to wait and every reason to get started as soon as possible. Glitter-colored 2018 with explosion cloud on a black background. Image source: Getty Images. The basics of IRAs IRAs are simple yet powerful retirement savings tools. Unlike 401(k) and similar plans, which require employer participation, anyone can invest in at least one type of IRA. Contribution limits are relatively generous, with contributions of up to $5,500 each year in 2017 and 2018 for those who are under 50 years old and $6,500 each year for those 50 or older. One of the biggest advantages of IRAs is that they're one of the few tax planning opportunities that you can use after the tax year ends. You're allowed to contribute to an IRA anytime for a given tax year until the April due date of your tax return. That means that you'll have until mid-April 2018 in order to make a contribution for the 2017 tax year and until April 2019 to make your 2018 contribution. The downside of IRAs is that you have limited access to your money once you've made a contribution. With traditional IRAs, withdrawals almost always involve having to add the amount taken out of the IRA to your taxable income. You'll usually also owe an additional 10% tax penalty if you make withdrawals before turning age 59 1/2, unless one of several exceptions applies. The need for commitment makes many people leery of putting money in an IRA despite the advantages that come from deferral of income tax on income and gains that the IRA's investments generate. Story continues How to pick the right IRA Most people can freely choose either a traditional or Roth IRA . Traditional IRAs allow most taxpayers to deduct their contributions, giving them immediate tax savings. Roth IRAs don't provide an up-front deduction, but they typically let you withdraw money tax-free in retirement as long as you meet certain qualifications. However, income limits apply to both types of IRAs. With Roth IRAs, you're not allowed to make contributions at all if your income exceeds the limits. You can always make traditional IRA contributions , but you can't deduct those contribution amounts if your income is too high. What tax reform changed with IRAs The hiccup that taxpayers face in making 2018 contributions to IRAs comes from the recent tax reform bill. A new law takes away one option that those converting from a traditional IRA to a Roth IRA had, and some commentators are nervous that the rule could take away an escape hatch that people have when they contribute to one type of IRA but later need to change their mind. After a Roth conversion, the old law allowed taxpayers to undo the conversion at a later date. Called recharacterization , this strategy involved taking the Roth money and putting it back where it started. By doing so, you could avoid the tax that Roth conversions generated. Yet some people arguably abused the provision, leading Congress to eliminate it. For those contributing to a Roth IRA, there are legitimate reasons why you would want to recharacterize your contribution. For instance, if your income is unexpectedly high, then you might make too much to legally contribute to a Roth. If you've done so in anticipation of having lower income, you could find yourself stuck if you can't undo the decision. Some commentators are nervous that the new law takes away recharacterization in all cases. But by my reading of the law, the change applies only to conversion transactions, not initial regular contributions to a Roth or traditional IRA. If the latter case is OK, then you can freely make a 2018 IRA contribution in early January and be confident that if conditions change, you won't get trapped. Don't delay! Saving for retirement is important, and the sooner you get money into an IRA, the sooner you'll start reaping the benefits of tax-favored growth. Resolve to open an IRA early in 2018, and you'll put yourself on the right foot to have a great year. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . || Will Waymo's Self-Driving Taxi Beat General Motors to Market?: The future just got a little closer: The company formerly known as the Google Self-Driving Car Project said that it's gearing up to launch what it's calling the world's first driverless ride-hailing service in Phoenix later this year. That company, now known as Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Waymo, and Fiat Chrysler Automobiles (NYSE: FCAU) announced on Tuesday that FCA will soon begin building "thousands" of self-driving-ready Chrysler minivans for Waymo's new service. Lots of companies have talked about the idea of a driverless ride-hailing service. But until today, only one -- General Motors (NYSE: GM) -- had announced concrete plans to build a slew of driverless taxis and deploy them in ride-hailing service. GM is aiming to launch its self-driving fleet in 2019. If Waymo really is able to deploy self-driving taxis at scale this year, the Alphabet subsidiary could turn out to be the first mover in what is expected to become a huge new industry. That has big implications. Here's what we know. A Chrysler Pacifica Hybrid minivan with Waymo logos and self-driving sensor hardware driving on a suburban road. Image source: Fiat Chrysler Automobiles. What Waymo and FCA said Waymo and FCA have been working together on a driverless taxi since 2016. Engineers from both companies worked together to develop a version of FCA's well-regarded Chrysler Pacifica Hybrid minivan adapted to Waymo's self-driving system. FCA has delivered 600 of the minivans to Waymo since late 2016. Those vans have been operating in Waymo test fleets at several sites in the United States -- and as of November 2017, a few began operating without human drivers on board , in a designated area near Phoenix, Arizona. That was a historic moment: Under the definitions set by the Society of Automotive Engineers, those Waymo vans were the first "Level 4" self-driving vehicles. (Learn more about the "levels" of self-driving technology here .) As Waymo CEO John Krafcik sees it, those first few driverless Pacificas were also the beginning of a commercial venture: Story continues With the world's first fleet of fully self-driving vehicles on the road, we've moved from research and development, to operations and deployment. The Pacifica Hybrid minivans offer a versatile interior and a comfortable ride experience, and these additional vehicles will help us scale. In a statement, Waymo and FCA confirmed that Waymo intends to expand its service to more U.S. cities over time, as the vehicles are delivered. But at least as of right now, the timetable for those deliveries isn't clear. And that means the race to scale is on. The interior of Waymo's Pacifica minivan, viewed from the back seat, showing touchscreens positioned for the passengers' use. Waymo's self-driving Chrysler Pacifica has been adapted to automated taxi service inside and out. But at least for now, it still has a steering wheel. Image source: Fiat Chrysler Automobiles. The competition: GM is close behind GM president Dan Ammann argued last fall that the first company to deploy self-driving taxis at scale, meaning by the thousands, will enjoy a significant "first mover" advantage . Here's why: Driverless-vehicle systems use machine learning technology, so they improve as they "learn" from experience. Because all of the vehicles that share a given system will share the lessons, the first company to deploy self-driving taxis by the thousands will have a head start on what looks to be a steep learning curve. GM's Cruise, a small white crossover SUV with self-driving hardware. The first real competitor to Waymo's minivans will be the GM Cruise, an all-electric self-driving taxi developed from the Chevrolet Bolt EV. GM plans to begin mass-producing the Cruise -- without steering wheels or pedals -- for deployment in urban ride-hailing service in 2019. Image source: General Motors. As Ammann and GM see it, that will be a commercial advantage: The systems will (presumably) be safe when launched, but at first they might not ride as smoothly as a car driven by a skilled human driver and they might not take the quickest routes to their destinations. Those are the kinds of things that will improve as the system gains on-road experience, and they're the kinds of things that could make ride-hailing customers in a given city strongly prefer one (or two) companies over others. The race is on for self-driving supremacy Who will seize that advantage? It'll be the first company (or companies) that can bring together all of the pieces: A safe system, the sensor hardware, and -- the big obstacle for most -- a vehicle that can be mass-produced by the thousands to a high level of quality. GM has those things, and expects its system to be ready to deploy in 2019. Waymo and FCA, working together, also have those things, and are now saying that they will begin deployment later in 2018. Does that mean that Waymo is poised to "win"? It might, though it'll depend on the details: For starters, how many vehicles will get deployed where and when? And there's a good argument that if GM deploys a few months after Waymo -- but a year or more before anyone else -- both it and Waymo will essentially be "first movers" with the potential to share similar advantages over time. But here's the takeaway: As of right now, at least in the United States, this is a two-horse race for what could be a very profitable prize. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Rosevear owns shares of General Motors. The Motley Fool owns shares of and recommends Alphabet (A shares) and Alphabet (C shares). The Motley Fool has a disclosure policy . || Cryptocurrency calculator: how much you could have made or lost buying Bitcoin: Bitcoin - REUTERS Bitcoin is like sex. Everyone is talking about it, leading to a fear you are missing out by not having it. Despite Bitcoin's stellar rise in 2017, it has been enjoying a bumpy ride in recent weeks, as incoming regulation and investor jitters force it to swing back-and-forth. Take the Winklevoss twins, who used their $11m Facebook payout to buy Bitcoin. The pair might be Bitcoin billionaires one day and mere millionaires the next, thanks to the yo-yo-ing cryptocurrency. Those who are curious to see how much they might have made on cryptocurrencies such as Bitcoin, Ripple and Ethereum - if they had invested when they planned to - before the jitters set in - can use this handy tool to see if they might have been a Bitcoin millionaire by now. If you were too afraid to bank on digital coins, fear not. The calculator also reveals if you would have made a loss. Cryptocurrency investment calculator It's important to remember that there are lots of added transaction fees when buying Bitcoin - so the rewards might not be as good as they seemed. You will pay a fee to buy Bitcoin, another fee to move it between wallets, and of course there's another fee for cashing in. Average fees have exceeded £25 for every transaction in recent weeks thanks to large demand causing traffic on the Bitcoin network. It is worth bearing in mind that some cryptocurrency exchanges only convert into dollar, so there could be an extra conversion rate before it lands in your bank account. The calculator shows you whether you might have made or lost buying Bitcoin rivals Ethereum, Bitcoin Cash, Ripple and Litecoin, too. || Mark Cuban confirms Mavs plan to accept Bitcoin: Dallas Mavericks owner Mark Cuban lives on the cutting edge of business. The “Shark Tank” investor who made his billions by selling Broadcast.com near the height of the 1990s dot-com bubble now plans to help bring Bitcoin into the mainstream by accepting the cryptocurrency as payment with the Mavericks. Cuban responded to a tweet on Monday asking about his plans to bring Bitcoin into the Mavericks fold. Next season. — Mark Cuban (@mcuban) January 16, 2018 He confirmed his plans on Tuesday with Bloomberg when the business publication asked for more details about the Mavericks’ future relationship with cryptocurrency. “True,” Cuban told Bloomberg via email when asked if his team would accept Bitcoin payments. “And we will be taking Ether as well. As far as tokens, we will be taking tokens originated by companies we have business relationships. “Some people want to buy products in krypto to prove a point. We are happy to make it easy for them. And for Existing Mavs fans who prefer to spend krypto currency we are happy to make it easy for them.” Mavericks owner Mark Cuban plans to accept Bitcoin from his customers next season. (AP) Cuban seems the obvious owner to invite cryptocurrency into the sports landscape. The misunderstood market driven by lack of government oversight has drawn a lot of attention as investors have watched volatile Bitcoin prices jump from $900 to $18,000 and many spots in between over the last year, driving mainstream attention. What Mavs fans will buy with Bitcoin is the question. With one Bitcoin valued at $10,900 at the time of this article being published, that buys a lot of tickets and concessions. View comments || IBM's Half-Decade Revenue Slump Is Officially Over: The infamous streak is finally broken. International Business Machines (NYSE: IBM) , after 22 consecutive quarters of slumping revenue, reported revenue growth in the fourth quarter. Revenue jumped 4% year over year, or 1% adjusted for currency, as the strength of its newest mainframe system and its strategic imperatives finally overcame declining legacy businesses. An across-the-board beat IBM's total revenue came in at $22.5 billion, up from $21.8 billion in the prior-year period. After a strengthening U.S. dollar ravaged IBM's results in 2015, a weakening dollar aided the company's top line to the tune of 3 percentage points during the fourth quarter. Revenue was about $490 million above the average analyst estimate. IBM's Global Center for Watson IoT in Munich, Germany. IBM's Global Center for Watson IoT in Munich, Germany. Image source: IBM. IBM's strategic imperatives, a collection of its growth business, produced year-over-year growth of 17% during the fourth quarter, or 14% adjusted for currency. These businesses produced $36.5 billion of revenue in 2017, up 11% compared to 2016 and representing 46% of IBM's total revenue. The cloud business , which is part of the company's strategic imperatives, produced $5.5 billion or revenue during the fourth quarter, up 30% year over year. Full-year cloud revenue grew 24% to $17 billion, while the cloud-as-a-service annual exit run rate reached $10.3 billion, up 20% compared to one year ago. Analytics revenue jumped 9%, mobile revenue rose 23%, and security revenue surged 132%. Turning to the bottom line, IBM took a $5.5 billion charge related to the U.S. tax bill that passed late last year. This charge includes a tax on accumulated overseas profits, and the revaluation of deferred tax assets and liabilities. GAAP earnings per share came in at a loss of $1.14 during the fourth quarter as a result of this charge. IBM's operating EPS, a non-GAAP number that excludes this charge, was $5.18, beating the average analyst estimate by $0.01. Story continues Full-year free cash flow was $13 billion, excluding receivables related to the financing business. That's up from $11.6 billion in 2016. Full-year operating EPS was $13.80, in line with the company's prior guidance. IBM's growth was driven in large part by the z14 mainframe , which began shipping in September 2017. The systems segment, which includes hardware and operating systems software, grew revenue by 32% year over year to $3.3 billion. Mainframe revenue jumped 71% year over year, and it should continue to grow, albeit at a slower pace, in the first half of this year. Growth in 2018 IBM's fourth-quarter growth is no fluke. The company provided limited guidance in its earnings presentation, but did say that it expects revenue growth and margin stabilization in 2018. Currency will likely continue to help boost IBM's top line in 2018, as will sales of the z14 mainframe. The company's goal is to reach $40 billion of annual strategic imperatives revenue by the end of the year, which would be around half of its total revenue. It will take low double-digit growth to accomplish that. IBM's transformation is not over, but returning to revenue growth is a critical step. I wouldn't expect anything beyond low single-digit growth from IBM, as its top line is still being held back by declining legacy businesses. But that's a lot better than the revenue losses the company has been reporting for the past five years. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Timothy Green owns shares of IBM. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || South Korea plans to ban cryptocurrency trading, rattles market: By Cynthia Kim and Dahee Kim SEOUL (Reuters) - South Korea's government said on Thursday it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation's police and tax authorities raided local exchanges on alleged tax evasion. The clampdown in South Korea, a crucial source of global demand for cryptocurrency, came as policymakers around the world struggled to regulate an asset whose value has skyrocketed over the last year. Justice minister Park Sang-ki said the government was preparing a bill to ban trading of the virtual currency on domestic exchanges. "There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges," Park told a news conference, according to the ministry's press office. After the market's sharp reaction to the announcement, the nation's Presidential office hours later said a ban on the country's virtual coin exchanges had not yet been finalised while it was one of the measures being considered. A press official at the justice ministry said the proposed ban on cryptocurrency trading was announced after "enough discussion" with other government agencies, including the nation's finance ministry and financial regulators. Once a bill is drafted, legislation for an outright ban of virtual coin trading will require a majority vote of the total 297 members of the National Assembly, a process that could take months or even years. The government's tough stance triggered a selloff of the cryptocurrency on both local and offshore exchanges. The local price of bitcoin plunged as much as 21 percent in midday trade to 18.3 million won ($17,064.53) after the minister's comments. It still trades at around a 30 percent premium compared to other countries. Bitcoin (BTC=BTSP) was down more than 10 percent on the Luxembourg-based Bitstamp at $13,199, after earlier dropping as low as $13,120, its weakest since Jan. 2. Story continues South Korea's cryptocurrency-related shares were also hammered. Vidente and Omnitel , which are stakeholders of Bithumb, skidded by the daily trading limit of 30 percent each. Once enforced, South Korea's ban "will make trading difficult here, but not impossible," said Mun Chong-hyun, chief analyst at EST Security. "Keen traders, especially hackers, will find it tough to cash out their gains from virtual coin investments in Korea but they can go overseas, for example Japan," Mun said. Park Nok-sun, a cryptocurrency analyst at NH Investment & Securities, said the herd behavior in South Korea's virtual coin market has raised concerns. Indeed, bitcoin's (BTC=BTSP) 1,500 percent surge last year has stoked huge demand for cryptocurency in South Korea, drawing college students to housewives and sparking worries of a gambling addiction. "Some officials are pushing for stronger and stronger regulations because they only see more (investors) jumping in, not out," Park said. By Thursday afternoon, the Justice Ministry's announcement had prompted more than 55,000 South Koreans to join a petition asking the presidential Blue House to halt the crackdown on the virtual currency, making the Blue House website intermittently unavailable due to heavy traffic, the website showed. REGULATORY CONUNDRUM There are more than a dozen cryptocurrency exchanges in South Korea, according to Korea Blockchain Industry Association. The proliferation of the virtual currency and the accompanying trading frenzy have raised eyebrows among regulators globally, though many central banks have refrained from supervising cryptocurrencies themselves. The news of South Korea's proposed ban came as authorities tightened their grip on some cryptocurrency exchanges. The nation's largest cryptocurrency exchanges such as Coinone and Bithumb were raided by police and tax agencies this week for alleged tax evasion. The raids follow moves by the finance ministry to identify ways to tax the market that has become as big as the nation's small-cap Kosdaq index in terms of daily trading volume. Some investors appeared to have taken preemptive action. "I have already cashed most of mine (virtual coins) as I was aware that something was coming up in a couple of days," said Eoh Kyung-hoon, a 23-year old investor. Bitcoin sank on Monday after website CoinMarketCap removed prices from South Korean exchanges, because coins were trading at a premium of about 30 percent in Asia's fourth-largest economy. That created confusion and triggered a broad selloff among investors. An official at Coinone told Reuters that a few officials from the National Tax Service raided the company's office this week. The official, who spoke on condition of anonymity, said that Coinone was cooperating with the investigation. Bithumb, the second largest virtual currency operator in South Korea, was also raided by the tax authorities on Wednesday. "We were asked by the tax officials to disclose paperwork," an official at Bithumb said, requesting anonymity due to the sensitivity of the issue. The nation's tax office and police declined to confirm whether they raided the local exchanges. South Korean financial authorities had previously said they are inspecting six local banks that offer virtual currency accounts to institutions, amid concerns the increasing use of such assets could lead to a surge in crime. ($1 = 1,069.9600 won) (Additional reporting by Hyonhee Shin; Editing by Shri Navaratnam and Jacqueline Wong) || Why Veeco Instruments Inc. Stock Jumped on Tuesday: What happened Shares of Veeco Instruments (NASDAQ: VECO) , a designer and manufacturer of small electronic materials and parts, jumped as much as 21.5% on Tuesday. The stock is up 18.6% at the time of this writing. The stock's rise on Tuesday follows the company's fourth-quarter earnings release, which included better-than-expected non- GAAP earnings per share. The company said the strong quarter was driven primarily by shipments of its metal organic chemical vapor deposition (MOCVD) and Laser Anneal systems. A chart showing a stock price moving higher Image source: Getty Images. So what Fourth-quarter revenue was $143 million, up 53% from the year-ago quarter. Full-year revenue was $485 million, up from $333 million in the year-ago quarter. Veeco lost $5.5 million, or $0.12, during its fourth quarter on a GAAP basis. But non-GAAP net income was $9.1 million, or $0.19 per share. This compares to non-GAAP earnings per share of $0.09 in the year-ago quarter. On average, analysts were expecting revenue of about $144 million and non-GAAP earnings per share of $0.09. Now what For 2018, management expects more growth across all of its target markets. Supporting its expectation for growth in 2018, Veeco ended 2017 with "strong bookings and historically high backlog," said Veeco CEO John Peeler. For its first quarter of 2018, management said it expects revenue to be between $140 million and $165 million, and non-GAAP earnings per share to be between a loss of $0.04 and a profit of $0.14. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
[Random Sample of Social Media Buzz (last 60 days)]
1 BTC Price: Bitstamp 11125.48 USD Coinbase 11119.00 USD #btc #bitcoin 2018-02-19 17:30 pic.twitter.com/WoLjTJxOnL || #BTC Average: 11822.69$
#Bitfinex - 11945.00$
#Poloniex - 11900.78$
#Bitstamp - 11795.00$
#Coinbase - 11490.00$
#Binance - 11950.00$
#CEXio - 12100.00$
#Kraken - 11659.50$
#Cryptopia - 11886.63$
#Bittrex - 11940.00$
#GateCoin - 11560.00$
#Bitcoin #Exchanges #Price || Dow Futures -600Pts, Hong Kong Down 6%, Bitcoin Tests $6000 https://www.zerohedge.com/news/2018-02-05/asian-stocks-open-sea-red-us-2y-bond-yield-plunges-back-below-200 … ➫ http://WATNM.com #NewMedia List || Bitcoin, la caduta continua: scende sotto 7mila dollari http://bit.ly/2EKYjAB #news #hardware #pc #games #smartphone || ► China empieza un gran ataque contra el Bitcoin
http://bit.ly/2nNW2wb pic.twitter.com/AT864geRG0 || I'm entered in a bitcoin giveaway. Click here to join in! https://gleam.io/d4OfQ/01-bitcoin-giveaway … || I sold some butter for $15,020.00 and made $22.00! I've made $5,020.04 so far! #bitcoin || Thanks Bitcoin News For Following!--> http://bit.ly/2iEHAoo <--By way of thanks, here's a FREE tutorial on making easy money from scratch (RT pls ;-)pic.twitter.com/IkqMVBnvuc || I am a time-traveler from the future, here to beg you to stop what you are doing. • r/Bitcoin https://fb.me/24opZm4GX || VIDEO: ¿Cómo funciona BITCOIN? https://goo.gl/KKgPaU?btz83=2245024105 …
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Trend: up || Prices: 9813.07, 9664.73, 10366.70, 10725.60, 10397.90, 10951.00, 11086.40, 11489.70, 11512.60, 11573.30
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-04-12]
BTC Price: 59893.45, BTC RSI: 58.98
Gold Price: 1731.20, Gold RSI: 48.06
Oil Price: 59.70, Oil RSI: 47.66
[Random Sample of News (last 60 days)]
PayPal Pushes Crypto Further Mainstream With Planned Checkout Service for 29M Merchants: PayPal, which last year added the ability to buy, hold and sell cryptocurrency, is pushing it as a payment method across the 29 million or so online merchants connected to the fintech giant. Announced Tuesday, PayPal’s Checkout will allow bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC) to be seamlessly converted into U.S. dollars or other fiat currencies when making purchases, the same as credit card or a debit card would work inside a PayPal wallet, said PayPal – meaning merchants will not actually be the recipients of cryptocurrencies. Though the payments giant had said last year it was working on this feature, the news was enough to drive up the currencies involved, particularly BTC, which rose more than $1,000. Related: Galaxy Digital Prepares for US Listing in 2021, Names New CFO Calling it “a new way for businesses to get paid,” the checkout service is all about driving mainstream adoption of cryptocurrencies, said PayPal CEO Dan Schulman. “Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies,” Schulman said in a statement. The company said in a blog post the product is “rolling out to PayPal customers in the U.S. from today and will be available broadly to customers in the U.S. in the coming weeks.” Hyped rollout Cryptocurrencies are going mainstream, with banks and institutional investors taking an interest, but the utility of bitcoin and other crypto tokens when it comes to buying goods has always been limited due to their volatility. Related: All About Bitcoin - April 2, 2021 PayPal, which made a huge splash when it officially entered the crypto space in October, wants to smooth those wrinkles out and get its wide network of merchants on board. Since introducing the crypto service, PayPal has increased weekly purchase limits two times from $10,000 to $15,000 and then $20,000 . Story continues Visa announced this week that it was testing out payments functionality using USDC stablecoin, a cryptocurrency held at parity with the U.S. dollar, on the Ethereum blockchain, via crypto-backed Visa cards. PayPal said its merchants will not incur any additional integrations or fees, and fiat conversions will take place at the standard PayPal conversion rates, according to a press release. Still, the terms and conditions for “Checkout with Crypto” include a number of important caveats. Chief among them is the tax liability: “Sales of Crypto Assets via Checkout with Crypto are taxable just like all other sales of Crypto Assets.” PayPal will provide the consumer with a 1099 tax form and report to the U.S. Internal Revenue Service as necessary, but “it is your responsibility to determine what taxes, if any, apply to transactions you make.” The T&C also warns the Checkout with Crypto service “may not be available as a funding option for all merchants, customers or purchases.” UPDATE (March 30, 10:50 UTC): Adds details from PayPal’s terms and conditions and background on the company’s history in the crypto sector. UPDATE (March 30, 10:50 UTC): Adds confirmation from PayPal, rewrites throughout. Adds coin activity. Related Stories PayPal Pushes Crypto Further Mainstream With Planned Checkout Service for 29M Merchants PayPal Pushes Crypto Further Mainstream With Planned Checkout Service for 29M Merchants || Dollar dips, Aussie gains on improving risk sentiment: By Karen Brettell
NEW YORK (Reuters) - The dollar dipped on Tuesday and riskier currencies including the Australian dollar gained as U.S. stocks were stable, reflecting improving risk appetite.
The greenback has been a beneficiary from recent volatility in stocks, which were roiled last week by a dramatic jump in U.S. government debt yields.
Treasuries have stabilized this week, with benchmark yields holding below last week's highs, helping to restore some market calm.
On Tuesday, "Wall Street largely retained Monday's sharp gains," which helped the U.S. currency "ease lower through the N.Y. session," Ronald Simpson, managing director, global currency analysis at Action Economics, said in a report.
The dollar index fell 0.31% to 90.731, after earlier reaching a three-week high of 91.396.
The euro gained 0.36% to $1.2092.
Rising yields came as participants worried that an economic recovery from the impact of the COVID-19 pandemic, combined with fiscal stimulus, will cause a jump in inflation and potentially faster tightening from the Federal Reserve.
The volatility also boosted the greenback as investors unwound short positions in the currency.
“If you do see volatility, the natural inclination is to take risk off the table; in this case it just basically means getting out of existing positions, and the dollar shorts are extremely elevated at this point” said Bipan Rai, North American head of FX strategy at CIBC Capital Markets in Toronto.
Short U.S. dollar positions were $29.33 billion in the week ended Feb. 23, according to data from the Commodity Futures Trading Commission.
Riskier currencies including the Australian dollar continued to rebound from last week’s sell-off, with the Aussie also gaining after the Reserve Bank of Australia recommitted to keeping interest rates at historic lows.
The currency was last up 0.77% at $0.7831, though it remains below the three-year high of $0.8007 reached on Thursday.
Karen Jones, a technical analyst at Commerzbank, said that the Aussie and other risky currencies including the Norwegian krone appeared to be reversing from interim tops, which will likely be positive for the U.S. dollar near-term.
The “U.S. dollar bear trend is probably over” for now, Jones said in a report.
The greenback was last down 1.09% at 8.466 krone, but is holding above the 8.313 krone per dollar level reached last week, the weakest for the dollar in more than two years.
Safe-haven currencies including the Swiss franc and Japanese yen, meanwhile, ended slightly stronger, reversing earlier weakness.
The Swiss franc earlier hit its lowest since November 2020 against the dollar at 0.9193 while the yen was the weakest since August at 106.95.
Bitcoin fell to a session low after Gary Gensler, President Joe Biden's nominee to chair the U.S. Securities and Exchange Commission, said that cryptocurrency has raised new investor protection concerns.
It was last down 4.11% at $47,609.
Citi said in a report that the popular cryptocurrency was at a "tipping point" and could become the preferred currency for international trade or face a "speculative implosion."
(Additional reporting by Elizabeth Howcroft in London; Editing by Bernadette Baum and Jonathan Oatis) || Why Money Scarcity Means Someone Goes Hungry: Money is both a store of value and a medium of exchange. People want to hold it as part of their wealth and they also need to spend it on food, water, shelter, clothing and things that make life worth living. Unless money supply grows sufficiently to accommodate both the desire to save and the need to spend, saving in the form of money necessarily impoverishes other people.
Why is this? Well, let’s imagine for a minute that the only purpose of money is exchange. People use money to buy the basic goods and services that they need to live, but they don’t buy non-essential items and they don’t save. It should be obvious that if money is evenly distributed across the population, the amount of money in circulation must increase at the rate at which the population grows. If it doesn’t, then someone goes hungry.
Frances Coppola, a CoinDesk columnist, is a freelance writer and speaker on banking, finance and economics. Her book “The Case for People’s Quantitative Easing” explains how modern money creation and quantitative easing work, and advocates “helicopter money” to help economies out of recession.
Related:Dogecoin Bounds Onto 1,800 ATMs in the US
Now imagine that people start saving some of their money instead of spending it all. Physically saving money – stuffing your mattress with it, for example – removes it from circulation. It can’t be used to buy food or pay the rent. So if everyone is stuffing their mattresses, more money must be created, otherwise the money in circulation becomes insufficient for everyone to buy what they need, and someone goes hungry.
Why might people stuff mattresses? One reason is insurance. If I have a mattress full of money, then if I need funds in a hurry I can simply raid my mattress. I don’t have to wait for the bank to open and I don’t have to worry about whether it will have enough money to pay me. And I don’t have to try to raise money by selling or pawning the family silver.
For people who lived through the Great Financial Crisis of 2008, the fear of not being able to access money or, worse, losing their savings in failing banks and crashing markets, is intense. Not that many of today’s savers stuff mattresses. But they do demand that their savings are safe.
See also: Michael Casey –COVID Economy Shows Monetary Failure
Related:Crypto Trading Firm BCB Group Raises $4.5M to Snag More Regulatory Licenses
In the past, they relied for safety on institutions: deposit insurance on bank accounts, government bonds in pension portfolios. But now they can hold cryptographically secure digital assets that are as liquid as cash: Coins that no one can take and that are available to spend whenever they need them. The rational desire for safe and liquid savings is a major driver of the cryptocurrency revolution.
If stashing money away against a rainy day was all that people wanted to do, then money would not need to gain in value. It could even erode in value if interest rates on savings were high enough to compensate for the inflation loss. But people want more than just rainy day savings. They want to build wealth. And they want that wealth to grow all by itself, whether or not they add to it from their earned incomes. When they hold their wealth in the form of money, that creates a problem.
There is a fundamental tension between those who primarily want to save money and those who primarily need to spend it. Those who want to save money don’t want the supply to increase, because they like their money to appreciate in value, and producing more of it stops it appreciating. But those who need to spend money prefer the supply to increase, because it makes money easier to obtain. Admittedly, if money rises in value then they can buy more with it, but that’s no consolation if they can’t get enough money to buy what they need.
When the value of money itself increases, the prices of everything for sale in that money fall. Such a fall in the general price level (not prices of individual goods) is known as “deflation.” It is typically caused by there being insufficient money in circulation to meet people’s demand for it. Those who have money are happy because they are becoming wealthier. But someone, somewhere, is going hungry.
I often hear people saying deflation is good for the poor because their money goes further. When deflation is caused by technological advancements, this can be true. Technological advancements enable humans to produce more for less, and this can feed through into lower prices, which benefit consumers. But deflation caused by money scarcity can never be good for the poor. Money scarcity always and everywhere means someone goes hungry.
Deflation due to sustained money scarcity destroys the economy and wrecks lives. At the limit, it causes mass starvation. This is not just because saving money takes it out of circulation, leaving less to go round. There’s another reason, too – and it is this one that keeps central bankers awake at night.
Deflation caused by money scarcity can never be good for the poor. Money scarcity always and everywhere means someone goes hungry
When the price of money rises relentlessly, people will spend as little as they can. After all, who is going to spend money if they know it will be worth more tomorrow? In Japan today, expectations that money will continually rise in value (or that consumer prices will continually fall) has kept economic growth low for a very long time despite the best efforts of both the Japanese government and the Bank of Japan to encourage people to spend more.
But without their efforts, things could be much worse. Falling consumer spending can trigger a disastrous deflationary spiral. As consumer spending falls, companies cut production, reduce wages and lay off staff. Falling incomes then force people to cut back spending even more, and prices fall even more, forcing companies out of business at the cost of more jobs resulting in further consumer spending cuts. Sometimes, prices can even fall to zero – but this doesn’t mean the goods aren’t wanted.
In his Depression-era novel “The Grapes of Wrath,” John Steinbeck describes Californian farmers leaving peaches to fall from the trees because it was not worth picking them. This apparent “overproduction” led to calls for farms and businesses to be “liquidated” and people to lose their jobs, because apparently no-one needed these good. But at the same time as Californian farmers were allowing their peaches to rot, unemployed migrants from Oklahoma were starving. The economist Irving Fishertersely commentedthat “a cause of the common notion of overproduction was mistaking too little money for too much goods.”
Why was there so little money during the Great Depression that prices crashed to zero and yet people starved? The consensus among economists is the U.S.’ determination to remain on the gold standard after the Wall Street Crash in 1929 forced it to keep the money supply very tight and rein in government spending. After the U.S. left the gold standard in 1933 and President Franklin Roosevelt introduced the New Deal, the economy recovered to some extent, though there was a second recession in 1937 that is generally ascribed to premature tightening of monetary policy. The U.S. economy didn’t really recover from the Depression until World War II, when both the Federal Reserve and the government turned on the money taps. It is a tragedy that the government would ensure there was sufficient money to produce armaments but not enable the entire U.S. population to buy food and shelter.
The battle between savers and spenders is played out not just in Great Depressions, but in every boom and bust cycle. During the prolonged recession after the 2008 financial crisis, there were similar debates about overproduction, though at the timewe called it “abundance.”Now, we can see there was no abundance, only insufficient money: the Fed’s quantitative easing didn’t reach Main Street, banks weren’t lending, scared people were paying down debt (which, economically speaking, is a form of saving), and the U.S. government’s spending was constrained byarguments over the debt ceiling.
See also: Frances Coppola –Scarcity Gives Bitcoin Value, but Not the Way You Think
Now we are in another recession, and this time it is being played differently. Both the Fed and the U.S. government have turned on the money taps. Those who want to hold money as a store of value are screaming about negative interest rates and the possibility of inflation from all this money creation. But the purpose of all this money creation is to ensure that, unlike previous contractions, we don’t mistake too little money for too much goods and end up with people going hungry.
I believe that ensuring no one goes hungry is much more important than preserving the wealth of people who have money. After all, people don’t have to keep their wealth in the form of money, there are a variety of assets that they can use as hedges against inflation, including – now –bitcoin. But people who are unable to obtain money because there is insufficient in circulation have no other options. Unless more money is created, they will starve.
So I’d rather money wasn’t deliberately kept scarce to placate savers. Let the supply of money respond to demand for it. When everyone wants to save in the form of money, you need to produce more of it so those who need to spend money don’t starve. Obviously, we don’t want to create so much money that it becomes worthless. But it is better to risk waking the demon of inflation than to deny people the means to live.
• Why Money Scarcity Means Someone Goes Hungry
• Why Money Scarcity Means Someone Goes Hungry || DMG Blockchain Retains U.S.-Based CORE IR for Investor Relations Services and Announces DMG’s Participation in the 33rd Annual Roth Conference as a Panelist: VANCOUVER, British Columbia, March 15, 2021 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF: OTCQB US) (FRANKFURT: 6AX ) (“ DMG ” or the “ Company ”), a vertically integrated blockchain and cryptocurrency technology company, today announces that it has retained CORE IR (“ CORE IR ”), a leading investor relations, public relations and strategic advisory firm, to assist the Company with investor relations, public relations and shareholder communications services. The Company also announces its participation in the Crypto/Blockchain panel on March 16 th at 11:00 am ET during the 33 rd Annual Roth Conference , which is being held virtually on March 15-17, 2021. CORE IR will focus on expanding market awareness for DMG and conveying the Company’s business model and growth strategies to the institutional and retail investment communities. CORE IR, a U.S.-based boutique investor and public relations strategic advisory firm, specializes in leveraging the most effective investment, growth, and exposure strategies for small to mid-sized companies through an integrated approach to relationship development and corporate communications. The marketing and investor relations agreement with CORE IR has an initial term of twelve months from the date of TSX Venture Exchange (“ TSXV ”) approval and may be renewed by the parties in accordance with the agreement. CORE IR will be paid a monthly fee of US$15,000 and will be granted stock options to acquire up to 200,000 common shares of DMG at a price of CAD$3.00 per share for a period of two years, vesting in stages over a period of 12 months in equal portions every three months, in accordance with the Company’s stock option plan and the policies of the TSXV. “We are pleased to engage CORE IR’s team of Investor relations, Communications and Strategy professionals to assist DMG raise awareness and engage with the investment community. CORE IR’s experience, capabilities and approach are a great fit for DMG as we continue to execute on our growth initiatives,” said Daniel Reitzik, CEO of DMG. Story continues Scott Gordon, Founder and President of CORE IR commented, “We look forward to assisting DMG accomplish its engagement and communications objectives with the investment community at this exciting time in the Company’s growth trajectory. CORE IR is well suited to employ our expansive resources and capabilities to aid the Company in meeting its goals.” The engagement of CORE IR remains subject to the approval of the TSXV. 33 rd Annual Roth Conference DMG’s COO, Sheldon Bennett, will be participating in the Crypto/Blockchain panel on Tuesday, March 16, 2021 at 11:00 a.m. Eastern time alongside Marathon Digital Holdings, Inc. ( NASDAQ: MARA ). The Crypto/Blockchain panel will explore the cryptocurrency mining industry, including how mining businesses operate and scale, their competitive advantages, their profitability potential, and the overall market opportunity. About CORE IR Headquartered in Garden City, New York, CORE IR is comprised of senior market leaders with expertise in institutional and retail investor relations, integrated corporate communications, and capital markets advisory services. CORE IR provides proprietary integrated investor and public relations solutions that yield targeted exposure for small to mid-sized companies. For more information, please visit www.coreir.com . About DMG Blockchain Solutions Inc. DMG is a vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s data centre operations focus on earning revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients. DMG’s data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry. For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com On behalf of the Board of Directors, Daniel Reitzik, CEO & Director For Media Inquiries : Jules Abraham, Head of Public Relations CORE IR 917-885-7378 Investor Relations Contact : Tristan Traywick, Managing Director CORE IR 516-222-2560 Email: investors@dmgblockchain.com Web: www.dmgblockchain.com Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information based on current expectations. Statements about the Company retaining CORE IR and the expected outcomes and benefits therefrom, plans and intentions, other potential transactions, acquisition of customers, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG’s business. Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, decrease in the price of Bitcoin and other cryptocurrencies, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above. || Prominent Gold Jeffrey Gundlach Reverses Stance on Bitcoin, Says It's Better Investment Than The Commodity: CEO of DoubleLine Capital and gold bull Jeffrey Gundlach becomes the latest investor to do a U-turn on Bitcoin.
What Happened:According to Gundlach, who has been a long-term gold advocate, Bitcoin may be a better investment than gold.
“I am a long-term dollar bear and gold bull but have been neutral on both for over six months. Lots of liquid poured into a funnel creates a torrent,” stated Gundlach onTwitter, adding, “Bitcoin may be The Stimulus Asset. Doesn’t look like gold is.”
Why It Matters:Only last month, Gundlach called Bitcoin a “bubble,” saying that the asset may be getting overheated after its massive run in recent months.
“Bitcoin, to me, is now sort of in bubble territory in terms of the way it’s been acting,” he said toCNBCon Jan 11, when Bitcoin’s price had retraced $33,000 after hitting a high of $42,000.
In 2017, the DoubleLine CEO was outright dismissive of Bitcoin and cryptocurrency in general. “I have no interest in this type of maniacal type of trading market,” he said in an earlier edition of CNBC’sHalftime Report, commenting that one would make money if they shorted Bitcoin.
What Else:Gundlach isn’t the only investor that has changed his stance on Bitcoin. Bridgewater Associates founder Ray Dalio recently said that Bitcoin had established itself as a "gold-like asset alternative" – a directcontradictionof his comments in prior years about it not being an effective store of wealth.
More recently,Microsoft Corporation(NASDAQ:MSFT) founder Bill Gatessaidhe was ‘neutral’ on Bitcoin after he previously mentioned he would short Bitcoin if he could.
The gold-Bitcoin ratiorecentlyhit an all-time low, as more investors looked to use the latter as their inflation hedging asset.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin rises 5% to $50,942.58: (Reuters) - Bitcoin rose 5% to $50,942.58 on Wednesday, adding $2,426.23 to its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, has risen 83.7% from the year's low of $27,734 on Jan. 4. Bitcoin has fallen 12.7% from the year's high of $58,354.14 on Feb. 21. Bitcoin's price soared this year as major firms, such as BNY Mellon, asset manager BlackRock Inc, credit card giant Mastercard Inc, backed cryptocurrencies, while those such as Tesla Inc Square Inc and MicroStrategy Inc invested in bitcoin. Ether, the coin linked to the ethereum blockchain network, rose 7.18 % to $1,595.64 on Wednesday, adding $106.84 to its previous close. (Reporting by Bhargav Acharya in Bengaluru; Editing by Chris Reese) View comments || Is a Surprise Coming for Purple (PRPL) This Earnings Season?: Investors are always looking for stocks that are poised to beat at earnings season andPurple Innovation, Inc.PRPL may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Purple is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for PRPL in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 36 cents per share for PRPL, compared to a broader Zacks Consensus Estimate of 33 cents per share. This suggests that analysts have very recently bumped up their estimates for PRPL, giving the stock a Zacks Earnings ESP of +9.09% heading into earnings season.
Purple Innovation, Inc. price-eps-surprise |Purple Innovation, Inc. Quote
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that PRPL has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Purple, and that a beat might be in the cards for the upcoming report.
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportPURPLE INNOVATION, INC. (PRPL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Moneyball Turns to Crypto: A’s Selling Suites for One Bitcoin: The Oakland A’s are taking a head-first slide into cryptocurrency. The San Francisco East Bay ballclub announced that fans can buy a six-seat suite for the 2021, 81-game home season in the Oakland Coliseum for a single bitcoin , valued at one point Sunday at $60,105.96. The box costs $64,500 in U.S. currency, A’s president Dave Kaval told Sportico in an exclusive interview at Hohokam Stadium in Mesa, Ariz, where the club plays its spring training games. A single game, six-seat box with all the accoutrements goes for $594 for select April contests. “So you’re getting a little bit of a bitcoin discount right now,” Kaval said with a chuckle. “Obviously it could change, but right now you’re getting a discount.” The bitcoin offer is good until April 1, when the A’s open the season at home against the American League West division rival Houston Astros, allowing buyers to play the fluctuations of the crypto market. Bitcoin’s historic volatility has been pronounced of late, with a recent high of nearly $62,000 on Saturday, rising from $29,000 this past Dec. 31. Suffice to say the A’s wouldn’t be making this offer if a bitcoin now was worth $29,000. “No, no, exactly,” Kaval said. “Part of the reason we’re doing this is the price makes sense. Since a bitcoin is worth about the same as a season suite it gives our fans some different choices. And it kind of tests it to see if it’s something we’d like to do in more aspects of our business. “And the other reason is, especially in the Bay Area you see more people discussing or transacting with bitcoin. We’re trying to be innovative in an era that we’re in the forefront. The A’s have always had a long history of innovating, so we felt this is a great way to do that.” Michael Lewis called the A’s foray into baseball analytics, Moneyball . Call this Crytoball. The A’s have 100 such suites to sell at the single bitcoin price. With about 5,000 season ticket equivalents, the A’s are also in the market to sell some individual game tickets. Story continues Seat sales in any currency were enabled just earlier this month when California governor Gavin Newsom cleared the state’s five Major League teams to open the season at 20% capacity in their individual ballparks. Fans weren’t allowed in ballparks anywhere in the U.S. during last year’s COVID-abbreviated 60-game a season, so Kaval, one of the youngest club presidents in the league at 45, is obviously having some fun with people returning to the stands. Last year, fans were only allowed to attend the six National League Championship Series games and six World Series games last fall at Globe Life Field in Arlington, Texas, and only at about 11,500 of the 40,300 capacity. Because of relaxed health and safety protocols in the state of Texas, the Rangers are planning to open the season at 100% capacity. The old Coliseum, which opened for baseball in 1968 upon the A’s arrival from Kansas City, can seat as many as 45,000 a game for baseball. In fact, the last time it was open to fans, 38,435 attended an 8-3 loss to the Texas Rangers on Sept. 22, 2019. At 20%, the A’s can expect to sell as many as 10,000 tickets per game. Whether that will go up over the course of the season will depend upon increased vaccinations and the spread of the disease. “There’s a lot uncertainty about this season as far as how many fans are going to be there and the access to various revenue streams,” Kaval said. “It’s almost impossible to predict right now. From our part we’re just trying to stay flexible. Two months ago we did not think we were going to have fans on opening day. Now we’re going to have 20%. “So, things are changing in a positive direction. And there’s a lot of demand out there for people who want to go to these games. We just have to let it play out over the next couple of months and see what happens.” More from Sportico.com NBA Top Shot Offers Greater Near-Term Upside but Carries Far More Risk Than Bitcoin How Bitcoin Is Likely to Be Used Within the Sports Ecosystem Play Moneyball! Determining MLB's Most Efficient Payrolls || Sumitomo Mitsui Trust Bank to Issue Japans First Security Tokens: Sumitomo Mitsui Trust Bank , one of Japans largest banks, has completed its first asset-backed security token issuance pilot. The bank announced Monday it has converted Japans first certificates of ownership backed by securities into security tokens, and is conducting a trial on the digital asset issuance platform Securitize Japan, a unit of Securitize Inc., according to CoinDesk Japan . The method of raising funds through the issuance of security tokens is called a security token offering (STO). Investors are issued a digital token that represents a physical investment to be stored on a blockchain. Related: ECBs Christine Lagarde Says Digital Euro Should Launch Within Four Years: Report Security tokens became famous in 2018 , following the initial coin offering (ICO) boom. Unlike ICOs, STOs were meant to represent a security regulated and traded in accordance with securities regulation. Despite the hype, STOs failed to take off for the most part, particularly in parts of Asia . In fact, in 2018, Beijings financial authority warned that STOs were illegal. The security tokens issued in Japans effort have a short-term rating of a-1 given by the Japans leading credit rating service, Rating and Investment Information , and will be launched within the month, according to the announcement. The security tokens are also compliant with Japans Financial Instruments and Exchange Act (FIEA), according to a statement from Securitize Japan. For the pilot, the bank created beneficiary certificates representing the asset-backed securities and tokenized them on the Securitize platform, the statement said. Another influential Japanese financial institution, SBI Holdings, announced three days ago it had also completed registration requirements to handle STOs. Additionally, Nomura Holdings, Mizuho Financial, Mitsubishi UFJ Financial and others have been researching and developing digital securities backed by assets such as bonds, stocks and real estate, according to CoinDesk Japan. Story continues Related: Crypto Options Giant Deribit Launches Bitcoin Volatility Index Sumitomo Mitsui Trust will continue to research the issuance and management of security tokens for the STO market, according to the announcement. The bank will also be looking into security tokens as a way to connect investors with long-term social impact objectives like the United Nations Sustainable Development Goals (SDG) and Environment, Society and Corporate Governance (ESG). Related Stories Sumitomo Mitsui Trust Bank to Issue Japans First Security Tokens Sumitomo Mitsui Trust Bank to Issue Japans First Security Tokens || CME to Launch Micro Bitcoin Futures in May: Derivatives exchange Chicago Mercantile Exchange (CME) will launch smaller-sizedbitcoinfutures contracts in May, potentially expanding the number of people who bet on the future price of the leading cryptocurrency.
• In an announcement on Tuesday, the CME said the new contracts sized at one-tenth of one bitcoin will be available for trading on May 3 and will be cash-settled based on theCME CF Bitcoin Reference Rate.
• “The introduction of Micro Bitcoin futures responds directly to demand for smaller-sized contracts from a broad array of clients and will offer even more choice and precision in how participants can trade regulated bitcoin futures in a transparent and efficient manner at CME Group,” Tim Court, CME Group global head of Equity Index and Alternative Investment Products,said in a press release.
• The micro futures will offer features and benefits of CME Group’s standard bitcoin futures, launched in 2017.
• The CME climbed ranks in the second half of 2020 and became the biggest bitcoin futures exchange as per open interest by the end of December, in a sign of increased institutional participation. Recently, the exchange has slipped to the number four spot.
• A futures contract is a standardized legal agreement to buy or sell something at a predetermined price at a specified time in the future.
• CME to Launch Micro Bitcoin Futures in May
• CME to Launch Micro Bitcoin Futures in May
• CME to Launch Micro Bitcoin Futures in May
• CME to Launch Micro Bitcoin Futures in May
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09, 51762.27
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-06-14]
BTC Price: 685.56, BTC RSI: 82.28
Gold Price: 1285.60, Gold RSI: 65.84
Oil Price: 48.49, Oil RSI: 53.27
[Random Sample of News (last 60 days)]
Bitcoin exchange Coinbase to add ether currency to trading platform: NEW YORK, May 19 (Reuters) - Bitcoin exchange Coinbase said late Thursday it will add digital currency ether on its trading platform next Tuesday. With the launch of ether trading next week, Coinbase is also changing the name of its platform to GDAX (Global Digital Asset Exchange), said Adam White, vice president of business development and head of GDAX. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum uses ether to execute peer-to-peer contracts automatically without the need for intermediaries. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) || Bitcoin hits two-year high as yuan worries drive Chinese demand: By Jemima Kelly LONDON (Reuters) - The price of the web-based digital currency bitcoin soared to its highest in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the yuan drove increased demand from China. Trading volumes on the Chinese bitcoin exchange BTCC surged to three to five times their daily average since Friday, according to CEO Bobby Lee, as Chinese savers have moved to protect their money against a further devaluation of the yuan. Bitcoin is a web-based "cryptocurrency" that can move money across the globe quickly and anonymously with no need for a central authority. That makes it attractive to those wanting to get around capital controls, such as China's. Around 95 percent of all bitcoin trading is done via Chinese exchanges, according to industry website Coindesk, so any increase in demand from the Asian super-power tends to have a particularly significant impact. The yuan weakened to a 4 1/2-month low on Tuesday and recorded its second-biggest monthly fall on record in May. Investors reckon it will weaken further, given growing expectations for an increase in U.S. interest rates and signs that China's credit-fuelled economy is slowing again. "People are worrying about the PBOC (People's Bank of China) devaluing the yuan," BTCC's Bobby Lee said from Hong Kong. "If you're in China and you're holding onto that yuan, that's a huge risk, so they're buying into hard assets ... Bitcoin is something that is very easily traded into, so that's what's happening." Despite being championed by some as the digital money of the future, bitcoin is often dismissed as too volatile to invest in. After rocketing above $1,100 in 2013, it then fell to around $150 in early 2015. But it has since recovered, and was the best-performing currency in 2015. Bitcoin hit $548.50 on the Bitstamp exchange on Tuesday, its strongest since August 2014, leaving it up over 20 percent in the past week. With around 15.5 million bitcoins now in circulation, that puts the currency's total value, or its "market cap", at around $8.5 billion -- about the same size as Anglo American, a global FTSE 100 mining company. Lee added that on his Chinese exchange, the price of bitcoin had at one point rallied above 4,000 yuan, or over $600. That was a sign investors sensed that the yuan was being artificially supported by the PBOC, he said. NEW SUPPLY HALVING Another reason given by bitcoin experts for the currency's latest surge is that in 40 days' time, the number of new bitcoins that are added to the system every day will be halved. By the principles of supply and demand, that slower growth in supply should raise the value of the currency. Instead of being controlled by a central bank, bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and thereby clear the transactions is currently rewarded with 25 new bitcoins, worth around $13,500. But when it was invented in 2008 by the mysterious "Satoshi Nakamoto", the code was designed so that the reward would be halved roughly every four years, in order to keep a lid on inflation. The next time that is due to happen is July 10. "Bitcoin is days away from a reduction in its block reward, which will halve the daily supply coming onto the market," said Charles Hayter, CEO of London-based digital currency analysis website CryptoCompare. Hayter added that after months of struggles over how to upgrade the software run by the computers that process bitcoin transactions, dubbed the "bitcoin civil war, developers appeared to be reaching a consensus, which was also helping support the currency. "Bitcoin is emerging battle-hardened after a period of divisive governance issues and politics," he said. "Although not fully laid to rest, calmer waters look to be on the horizon as consensus on how to scale the network is appearing." (Reporting by Jemima Kelly; Additional reporting by Sujata Rao; Editing by Larry King) || Coin Citadel to Acquire over $700,000 in Bitcoins: LOS ANGELES, CA / ACCESSWIRE / May 16, 2016 / Coin Citadel ( CCTL ), a holding company, is closing in on acquiring over $750,000 in Bitcoins. We are diligently working on finalizing a transaction for 1,675 Bitcoins which will bring our Bitcoin assets up to 2,251 Bitcoins and closer to a value of one million dollars USD. This will be a Non-dilutive preferred stock transaction. We are extremely excited to be in the Bitcoin Industry. We feel we are in the right place at the right time. We plan to announce more details of this transaction, as well as two additional asset acquisitions, later this week. New CEO James Pulver stated, "As I said in our last press release, my job is to add value to the company, and to take advantage of opportunities like this. The more prudent acquisitions we make, and assets we have, the more valuable our company will be. With this Bitcoin asset, we will have over $1 million dollars in Bitcoins to complement our new upcoming acquisitions. With everything falling into place we feel we are moving forward in the right direction." We would also like to update shareholders, as well as working on getting the company back to a current status on OTCmarkets.com. We want to open other lines of communication with shareholders, through social media such as Twitter, and Facebook. Please be on the lookout for news, filings, and other updates coming shortly. Forward-Looking Statement: Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation. Story continues Contact: James Pulver, CEO SOURCE: Coin Citadel || Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday.
The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network.
Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin.
"We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum."
He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other.
Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added.
Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said.
According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million.
At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency.
White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state.
Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange.
"What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) || NY regulator approves Winklevoss bid to trade digital currency ether: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state has approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade digital currency ether on its bitcoin exchange, Governor Andrew Cuomo announced on Thursday. Ether, an alternative currency that differs from bitcoin, is a token or digital asset of the Ethereum platform, a blockchain, or public ledger of all ether transactions. The platform uses ether to execute peer-to-peer contracts automatically without the need for intermediaries. The currency is often used by software developers. "With robust regulatory oversight, we are maintaining our status at the forefront of this technological revolution and ensuring that users have a safe and secure experience," Cuomo said in a statement. The approval by the New York State Department of Financial Services marks the state's first consent for a digital currency-related service beyond bitcoin. Trading on ether will begin on Monday, May 9, said Cameron Winklevoss, Gemini's co-founder and president, in an interview with Reuters. Customers will be able to store their ether from Thursday until it starts trading on the exchange on Monday. Winklevoss also said the brothers' investment firm Winklevoss Capital is a "significant" holder of ether. "We started buying ether at the beginning of the year," Winklevoss said. "Ethereum Foundation has a set number of ether that they have set aside over a period of time..(and) the proceeds from that go to the funding of the foundation and the developers to further the protocol." The Winklevoss twins chose ether to trade on their exchange because of its "unique capabilities" that are different from bitcoin. "There is a place for ether on our platform. It does what bitcoin doesn't do," Winklevoss said. "So that is the sort of criteria: that it is different enough from bitcoin and the proposition is great enough that this makes sense for us to include it in our platform." According to coinmarketcap.com, ether is trading at $9.97 on late Thursday, with a market capitalization of about $795 million, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $20 million. Ether trades on other exchanges as well, but Winklevoss said those exchanges are unregulated or unlicensed. "It's pretty clear that in the U.S. if you're an exchange, you are required at the minimum a money transmission license in each state," Winklevoss said. "Anybody who's operating an ether exchange doesn't have a license and is on borrowed time." Demand for ether has steadily increased since its launch last year. "Most of the people who work on ether right now are (software) developers developing applications for smart contracts on Ethereum and you need ether to do that," Winklevoss said. Aside from developers, British pop artist Imogen Heap has put her music on the Ethereum platform. "She (Heap) created smart contracts on Ethereum whereby if you send enough ether to the address on the contracts, you can download her songs," Winklevoss said. (Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Andrew Hay) || This founder launched a $14,000 smartphone immediately after laying off employees at his other startup: (Mirage)Moshe Hogeg and team.
People in Israel's tight-knit startup community are talking about the reported death, and the odd life, of once high-flying startup Mobli.
Mobli raised $86 million in venture funds in six years, some from some big names.
Mobli's layoffs were first reported byIsraeli business Calcalistand confirmed by Business Insider.
Mobli's CEO, Moshe Hogeg, told us that the company has cut 15 employees this week and is closing its Israeli R&D center.
Sources are telling us that this represents all of Mobli's remaining Israeli employees, although Hogeg insists that the company is not being closed down entirely. He says that he's retaining an R&D team in Europe.
At its height, Mobli employed about 50 people, but now only a handful remain, sources tell us.
In Israel, the shock isn't so much that Mobli is struggling — people don't understand how the company has stayed alive as long as it has. It jumped from one failed product to the next.
Mobli sprang to life in 2010 as a photo-sharing social-media site backed by star angel investors like Lance Armstrong, Serena Williams, and Tobey Maguire. It later landed $60 million from Mexican billionaire Carlos Slim, it said, for a total of $86 million raised.
(Mobli.com)Lance Armstrong.
For instance, Armstrong used Mobli to share that famous photo of himself with hisTour de France jerseys after he was banned for life by the International Cycling Unionfor doping.
But then Instagram came along and Facebook bought it, and that pretty much killed Mobli as a photo-sharing social network.
The company pivoted to other apps. For instance, in 2015 it launched an app called EyeIn, a photo service for publishers that let them find pictures of events shared on social-media sites.
It shut EyeIn down just two months after it was launched when Instagram blocked the app from using Instagram photos.
"We had to shut down EyeIn two months after launch because Facebook/Instagram blocked us from their API, rendering our technology useless,"Hogeg confirmed to us.
Mobli then moved on to Slant, a news site based in New York for freelance articles. Writers got professional editing and Slant took a 30% cut of any advertising revenue their articles generated. Slant hit 4 million readers in a month and published 9,000 stories from 1,400 writers, but its editor, Amanda Gutterman, announced in her farewell letter in April that Slant was being shut down, asreported by Politico.
(www.galaxia.co)Mobli's Galaxia.
A former employee told us that much of this traffic was generated through paid-ad campaigns by services likeOutbrain.
Slant later told Politico that it was not closed for good but will be back once the company figures out a new business model. Meanwhile,Guttermanhas moved on to a new job at The Dose and the site is not functioning.
Mobli now has a new thing,a new social-network app called Galaxiathat launched in March, where people are encouraged to take on different "personas."
Mobli says that Galaxia's tech came from a startup it acquired called Pheed. The rumor was that it paid $40 million in cash for Pheed, butHogeg tells us that the true price was really "just a few million."
The people we talked to have marveled that Mobli says that it is still in business and can't understand how.
Hogeg says that Mobli has been clear where its money has come from: venture investors.
"We've always been very transparent about our funding. Amongst are investors: Carlos Slim, Leo DiCaprio, and Kenges Rakishev and all that info is readily available. We raised sufficient funds to allow us to stay in business thus far," he says.
Mobli was also famous for beingone of the first startups to use NASDAQ's private market, allowing early employees to cash out their shares in the company by selling them to other private investors.
In the meantime,Moshe Hogeg is focused on a new company,Sirin Labs, where he is president, investor, and cofounder, but not CEO. The CEO is Tal Cohen.
Right after letting staff go at Mobli, Sirin launched its product on Tuesday in London: a smartphone forabout $14,000, or9,500 pounds.
The phone is aimed at wealthy people who want a fast and stylish phone that also encrypts all their data.
Sirin says that it raised$72 million in funding and has 85 employees based in Switzerland, Sweden, England, and Israel.
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Trader disclosure: On June 1, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Karen Finerman is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, WIFI long call spreads, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, KORS puts, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. Brian Kelly is long Bitcoin, US Dollar; he is short Australian Dollar, Euro, Hong Kong Dollar, Yuan Short. Pete Najarian is long AAPL, BAC, BMY, CSCO, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, VIAB, ZIOP Long Calls: AAL, ABBV, AKS, AMJ, C, CSX, EGO, EWZ, GLW, GS, GSAT, HAL, HBAN, KGC, LLY, MDLZ, MSFT, MT, MU, NLNK, P, POT, SLV, SVU, TMUS, UAL, X, YHOO Long Puts: BID, FCX, NAV, SCTY, VLO.
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• Personal Finance || Bitcoin exchange Coinbase to add ether currency to trading platform: NEW YORK, May 19 (Reuters) - Bitcoin exchange Coinbase said late Thursday it will add digital currency ether on its trading platform next Tuesday.
With the launch of ether trading next week, Coinbase is also changing the name of its platform to GDAX (Global Digital Asset Exchange), said Adam White, vice president of business development and head of GDAX.
Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs.
Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum uses ether to execute peer-to-peer contracts automatically without the need for intermediaries.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) || How an early bitcoin leader is staying relevant in a blockchain frenzy: If you are interested in dipping a toe in the waters of the digital currency bitcoin, the easiest way is to buy some bitcoin, and arguably the best-known service for that is Coinbase.
The company launched four years ago today, and was one of the earliest bitcoin wallets—that is, simply, a place to buy and hold bitcoin. By being early to the craze, Coinbase became one of the most recognizable and respected brands in the bitcoin industry, it raised nearly $107 million in venture capital (by far the most raised by any bitcoin startupuntil 21 Inc. came along), and its co-founders, Brian Armstrong and Fred Ehrsam, became influential names in the business.
Lately, the narrative about the bitcoin world has shifted toblockchain, the decentralized, peer-to-peer, open-source technologythat powers bitcoin. (For an explainer, check out this video.) The idea of blockchain came about side-by-side with bitcoin in 2009, but now major banks and financial institutions are gaga over the idea of using blockchains to speed up their transaction processing—closed, private blockchains without bitcoin.
Now some of the hottest startups that started out as “bitcoin companies” have subtly edged away from bitcoin in their marketing.Bitreserve, a cloud bank that allows you to hold funds in many different currencies, changed its name to Uphold;Circle, which started as a bitcoin payment app, added the ability to deposit funds in U.S. dollars, and no longer mention bitcoin on its home page. Many bitcoin companies are focusing on blockchain and working with new partners who, in many cases, have no interest in a volatile cryptocurrency.
But Coinbase and its leaders are more bullish on bitcoin than ever.
“I think the whole narrative of blockchain without bitcoin will amount to very little,” declares Fred Ehrsam. In an interview with Yahoo Finance duringthe big bitcoin conference Consensusthis month, Ehrsam compared the current craze over blockchain to corporations that rushed to create “intranets” in the early days of the Internet—they were closed networks, accessible only to one company’s employees. And while those still exist at some companies today, most people eventually realized that they didn’t need to create private corners of the Internet, because the large, open Internet is good enough.
It is a popular comparison among bitcoin believers at the moment. Many people on the banking side of things, in visits with Yahoo Finance, have been dismissive of that dismissiveness. They see potential in blockchain technology to reduce friction in payments overseas, and maybe even speed the settlement of stock purchases.
Ehrsam’s point is that the bitcoin blockchain can already do that. A former Goldman Sachs (GS) foreign exchange trader, Ehrsam brings financial chops to bitcoin, a world which many of the most fervent supporters got into because they are anti-banking and anti-government. Ehrsam has said he aims for Coinbase to be a Goldman Sachs of cryptocurrency. Some in bitcoin would say it’s already there.
Coinbase has grown far beyond a mere bitcoin wallet: It has more than 2 million users; it is now operable in 32 countries; it recently launched the ability for U.S. customers to buy bitcoin instantly using a debit card (previously you had to link up a bank account and wait a few days, which was a nice illustration of the sluggishness of traditional banking); and most significantly, last year it launched an entirely new business: a bitcoin exchange.
Coinbase has major competition among bitcoin exchanges. Many, many exchanges have sprung up in the past two years, includingone from the Winklevoss brothers, Gemini, which last year scored regulatory approvalfrom the New York Department of Financial Services to operate as a trust, and this month got new approval to add the ability for customers to trade Ether, a much-hyped alternative digital-currency to bitcoin. Coinbase, in contrast with Gemini, did not wait for regulatory approval in New York before launching. But a report just this week from Reuters suggeststhe NYDFS is set to grant Coinbase a BitLicenseanyway, which, if true, will certainly make Coinbase look like it was smart not to wait. After a little over one year in business, Coinbase says it has the most liquid bitcoin exchange in the U.S.
Meanwhile, Ehrsam and Armstrong have become key voices in a wonky internal debate in the bitcoin world over whether to increase the block-size limit of bitcoin’s blockchain. In simplest terms, transactions are recorded on the blockchain in bundles called blocks, but the blockchain has slowed down recently under the weight of larger transactions. Some in bitcoin want to raise the limit to allow for larger blocks, while others don’t want bitcoin mining to get to a point where a personal laptop can’t handle the data. Ehrsam and Armstrong are in the former camp, and Armstronghas written publicly on the block size debate.
To be sure, many titans of Wall Street are still certain that while blockchain technology is heating up, bitcoin, the currency, is on its way to the grave. JPMorgan (JPM) CEOJamie Dimon has called bitcoin "doomed."Nonetheless, Ehrsam is laser-focused on a business plan that depends on people like Dimon being very wrong. The value of bitcoin, by the way, is up 91% in the last year.
--
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business.Follow him on Twitter at@readDanwrite.
Read more:
How big banks are paying lip service to the blockchain
Here’s how you can invest in the blockchain
Bitcoin's biggest investor just bought its biggest news site
Here's a sign that PayPal is embracing Bitcoin || Santander says first UK bank to use blockchain for overseas payments: By Andrew MacAskill and Huw Jones LONDON (Reuters) - Santander is the first British bank to start using the technology behind virtual currency Bitcoin for recording international payments, and may start rolling out the service to customers next year, the head of innovation at its UK arm said.Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction ever conducted. Its proponents say it has the potential to shake up how financial markets operate.Santander said about 6,000 staff in Britain would be eligible to begin using the technology internally in a pilot program that aims to make the transfer of money faster, more accurate and more transparent. The technology may eventually allow banks to settle the estimated annual $26 trillion of international transactions almost instantaneously. That compares with settlement times of days under the current systems used by banks. "The main customer benefits are certainty of timing, so you know when the payment is going to arrive and certainty of value," said Ed Metzger, head of innovation, technology and operations at Santander UK.Metzger said at the moment when customers transfer money overseas the charges between banks and delivery times are estimates, whereas with this technology when a customer hits send that will be the amount that reaches the recipient account. Blockchain is part of the growing financial technology sector being encouraged by Britain to keep the country's financial sector competitive with New York and Singapore. Santander and other banks such as Citi, BNP Paribas and Goldman Sachs are investing in the sector to avoid being left behind by start-ups racing to apply blockchain in payments, and clearing and settlement of trades. Santander's pilot, however, underscores how the speed that blockchain could offer is shackled by being slotted into slower, legacy payments systems. Metzger said unless all the banks are using the same technology then the "last mile" of its pilot using blockchain will use slower, existing payments links. In March, broker ICAP said it was the first to distribute data on trades to customers using blockchain. (Editing by Mark Potter)
[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $2,705.60 (0.55 %). BUY B1105.53 @ $442.00 (#BTCe). SELL @ $444.76 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $463.23 (5.91 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $438.52 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Finance and Beyond: An Infographic Map of Bitcoin and the Emerging Blockchain Ecosystem http://cur.lv/xyvr0
#fintech #bitcoin || Current price: 380€ $BTCEUR $btc #bitcoin 2016-04-16 16:00:16 CEST || #bitcoin #miner Bitmain AntMiner S2 Bitcoin Miner $100.00 http://ift.tt/1U07SgJ pic.twitter.com/btSfpGXzOu || $444.00 at 13:32 UTC [24h Range: $436.60 - $444.49 Volume: 5262 BTC] || 1 MUE Price: Bittrex 0.00000049 BTC YoBit 0.00000098 BTC Bleutrade 0.00000052 BTC #MUE #MUEprice 2016-05-04 18:00 pic.twitter.com/MGiwQlidOU || 1 #BTC (#Bitcoin) quotes:
$554.62/$554.77 #Bitstamp
$539.58/$539.93 #BTCe
⇢$-15.19/$-14.69
$549.99/$550.00 #Coinbase
⇢$-4.78/$-4.62 || #Bitcoin rate is now € 439.43
+2.07% since 04:02:00 28/05 CEST
#btc #eur #fancybitcoinrate || Bitstamp: $453.61/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 456.90, low: 450.00) #bitcoin #BTC http://bitcoinautotrade.com
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Trend: down || Prices: 694.47, 766.31, 748.91, 756.23, 763.78, 737.23, 666.65, 596.12, 623.98, 665.30
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-06-20]
BTC Price: 2721.79, BTC RSI: 58.69
Gold Price: 1241.00, Gold RSI: 39.85
Oil Price: 43.23, Oil RSI: 29.34
[Random Sample of News (last 60 days)]
C&W Networks Wins Worldwide Innovation Award for Wholesale Service: MIAMI, FL--(Marketwired - Jun 15, 2017) - C&W Networks , part of C&W Communications (C&W), was recently recognized for outstanding industry leadership in wholesale service innovation as it won the Wholesale Service Innovation worldwide award category in the Global Telecom Business (GTB) Telecoms Innovation Awards 2017 in London. C&W Networks, which provides world-leading wholesale telecommunications products and services to over 40 countries in the Caribbean and Latin America, was chosen from a group of prestigious companies for providing exceptional value-added solutions to an enterprise customer, in the banking industry, that operates throughout the North American region. "I'm proud to accept this award on behalf of the C&W Networks team for leading the industry's most innovative and successful partnerships between operators and vendors," said John Reid, CEO of C&W Communications, picking up the award. "As part of our commitment to innovation, we're continually evaluating the rapidly evolving marketplace to determine what solutions are needed to help customers meet their business and communications goals. We are proud that our hard work has resulted in such acclaim," added Reid. C&W Networks' project consisted of providing a Canadian telecom and their end customer, a Canadian financial institution, with a next-generation MPLS network to implement a technology plan in the Caribbean. The network includes six classes of service and diverse primary and backup fiber optic circuits, as well as satellite services where additional diversity was required or where fiber optic diversity was not available. The project goal, as set out by the end customer, was to migrate the customer's extensive network of locations throughout the Caribbean to this new state-of-the-art network platform in a timeframe of 18 months, including completion of a proof of concept and pilot in addition to the full-scale migration. The GTB Telecoms Innovation Awards 2017, organized by Global Telecom Business, were presented on May 23, 2017, at the Marriott Hotel Grosvenor Square in London. The prestigious annual event is designed to honor innovative projects involving telecom operators and service providers around the world, in association with their vendors and suppliers, and recognizes the industry's commitment to deliver exciting and innovative services to its customers worldwide. Story continues "We had a superb range of projects nominated for this year's awards, the eleventh time Global Telecoms Business has presented our annual Innovation Awards. Each year since 2007 we've seen how the industry is getting more innovative and more imaginative about serving customers as technology advances, said Alan Burkitt-Gray, Executive Editor of Global Telecoms Business and Capacity. C&W Networks operates the largest state-of-the-art subsea multi-ring fiber network that includes more than 48,000 kilometers and 60 sub-sea cable stations. Combined with over 38,000 kilometers of terrestrial fiber across the region and a fully meshed MPLS overlay fabric, this integrated network is the most extensive and most reliable service delivery platform in the greater Caribbean, Central American and Andean region. C&W Networks wins GTB Wholesale Innovation Award #GTBAwards Tweet this Click here for more information on the Global Telecoms Business Awards About C&W Networks C&W Networks is a wholly owned subsidiary of C&W Communications and a wholesale telecommunications service provider that offers broadband, IP capacity and a growing portfolio of managed services and integrated solutions to global, regional and local telecom carriers, TV cable companies, Internet Service Providers and Network Integrators. C&W Networks operates the largest subsea multi-ring fibre-optic network throughout the greater Caribbean, Central American and Andean region along with the most comprehensive fully meshed MPLS network in the region. Connecting over 40 countries, the company's fully protected ringed submarine fibre optic network spans more than 48,000km. Cable routes include the Caribbean Optical-ring System (ARCOS-1), Colombia-Florida Express (CFX-1), EC-Link cable system, Fibralink, Maya 1, Eastern Caribbean Fiber Express (ECFS), Taino-Carib, East-West, Cayman-Jamaica Fibre system, Caribbean-Bermuda U.S (CBUS), Americas II, Gemini Bermuda, Pan America (PAN-AM), Antillas 1 and Pacific Caribbean Cable System (PCCS). For more information, visit: www.cwnetworks.com . About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 6 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3148780 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3148779 || Qatar finance minister: 'If we lose a dollar, they will lose a dollar': Doha won't be the sole loser in an ongoing spat between the oil-rich monarchy and seven Middle Eastern governments , warned Qatari Finance Minister Ali Shareef Al Emadi as he stressed his country's resilience to any potential economic shocks. "A lot of people think we're the only ones to lose in this... if we're going to lose a dollar, they will lose a dollar also," he said in reference to Gulf Cooperation Council nations. Speaking to CNBC in an exclusive interview , the minister called the political rift "very unfortunate" as it inconvenienced human lives. "Families are being disrupted around these countries." Saudi Arabia , Bahrain , the U.A.E. and Egypt are among the leading Arab governments who cut ties with Doha last week, accusing the oil-rich monarchy of supporting terrorism, as President Donald Trump urges Muslim leaders to take a stronger stance against extremists . The four Arab states have said they would close air and sea transport links with Doha, with Riyadh recently closing its land border. Qatar is dependent on Gulf neighbors for food imports to feed its 2.5 million strong population — the bulk of which are expatriates — and reports have emerged of panic buying at supermarkets amid fears of a food shortage during the Muslim holy month of Ramadan. However, Al Emadi was quick to dismiss those concerns. Previously, Doha imported food and other goods from places as far as Brazil and Australia so the government will continue that, he said. Whether its Turkey, the Far East or Europe, Doha will ensure that it has enough partners to get things done , he continued. "We are going to make sure that we are even more diversified than we were before." The minister, who is also president of Qatar Airways' executive board, defiantly brushed away concerns of a financial market meltdown. The Doha index tumbled 7.1 percent last week, according to Reuters, while the Qatari riyal has been falling against the greenback on worries of capital outflows. Story continues While the reaction was "understandable," there was no need to worry as Doha has all the tools required to defend its economy and currency, Al Emadi said. "Our reserves and investment funds are more than 250 percent of gross domestic product, so I don't think there is any reason that people need to be concerned about what's happening or any speculation on the Qatari riyal." "We are extremely comfortable with our positions, our investments and liquidity in our systems," he continued, adding that he saw no need for the government to step into the market and buy bonds. "We're still a AA country and we're one of the top 20 or 25 globally on our ratings ... so I think we are very much better than a lot of people around us." "Qatar is always open for business...We have what it takes to defend if we have to do anything locally." More From CNBC Bitcoin bulls runs wild as cryptocurrency surges above $3000 Mike Flynn and Russia wanted nuclear power plants in Middle East How an interview with a Chinese billionaire threw a US broadcaster into turmoil || Hackers are trying to bring the WannaCry ransomware back from the dead: A little more than a week ago, a particularly nasty piece of ransomware dubbed WannaCry began spreading at an impressive clip all across the globe. Targeting Windows machines and based off of a leaked NSA exploit impacted users found that all of their computer files had been encrypted and could only be recovered by making a $300 payment in Bitcoin. With the ransomware showing no signs of slowing down, an enterprising researcher named Marcus Hutchins managed to effectively stop WannaCry dead in its tracks by inadvertently enabling a kill-switch. As we noted last week , WannaCry at the point of infection attempts to communicate with a domain name consisting of a long string of nonsensical characters. If the domain is registered, WannaCry will stop spreading. If the domain is not registered, WannaCry will go on about its havoc-wreaking business. Don't Miss : You wont have to wait until November to buy Apples next-gen iPhone 8 After taking a look at the WannaCry code, Hutchins spotted an odd-looking domain name and out of mere curiosity registered it, having no idea at the time that he was enabling the ransomwares kill-switch. Without question, Hutchins action here helped stopped the malware from spreading even wider, but not before it managed to infect more than 300,000 computers across the globe. Interestingly enough, security researchers now claim that theres a clever and concerted campaign to bring the malware back from the dead. The strategy? Taking the kill-switch domain off-line by any means necessary. According to a report from Wired , botnets are now being mobilized to launch a DDoS attack against the kill-switch domain. Now a few devious hackers appear to be trying to combine those two internet plagues: Theyre using their own copycats of the Mirai botnet to attack WannaCrys kill-switch. So far, researchers have managed to fight off the attacks. But in the unlikely event that the hackers succeed, the ransomware could once again start spreading unabated.
If the DDoS assault did succeed, not all WannaCry infections would immediately reignite. The ransomware stops scanning for new victims 24 hours after installing itself on a computer, says Matt Olney, a security researcher with Ciscos Talos team. But anytime one of those infected machines reboots, it starts scanning again. The ones that were successfully encrypted are in this zombie state, where theyre waiting to be reactivated if that domain goes away, says Olney. Story continues At this point, theres no way of knowing if the folks behind WannaCry are the ones trying to resurrect the malware. Some security researchers, though, believe that the new botnet campaign is actually being carried out by folks looking to have a bit of ill-advised fun at the expense of innocent users. Incidentally, French security researchers have since come up with a fix for the WannaCry ransomware called wannakiwi that can be downloaded here. Trending right now: Android Os most exciting new feature is a total game-changer You wont have to wait until November to buy Apples next-gen iPhone 8 The hottest new Nintendo Switch game that isnt Mario Kart is $20 off on Amazon See the original version of this article on BGR.com || A.I. is in a ‘golden age’ and solving problems that were once sci-fi, Amazon CEO Jeff Bezos says: Artificial intelligence development has seen an "amazing renaissance" and is beginning to solve problems that were once seen as science fiction, according to Amazon ( AMZN ) CEO Jeff Bezos. Machine learning, machine vision, and natural language processing are all strands of AI that are being developed by technology giants such as Amazon, Alphabet's ( GOOGL ) Google and Facebook ( FB ) for various uses. For example, Amazon's voice assistant Alexa, which is in its Echo speaker, relies on natural language processing – the ability for computers to understand human speech. These AI developments were praised by the Amazon founder. "It is a renaissance, it is a golden age," Bezos told an audience at the Internet Association's annual gala last week. "We are now solving problems with machine learning and artificial intelligence that were … in the realm of science fiction for the last several decades. And natural language understanding, machine vision problems, it really is an amazing renaissance." Bezos called AI an "enabling layer" that will "improve every business." At Amazon, Bezos said that "cool" developments like Alexa and its Prime Air delivery drones use "tremendous amounts" of AI. But machine learning is being deployed across the company. "I would say, a lot of the value that we're getting from machine learning is actually happening kind of beneath the surface. It is things like improved search results, improved product recommendations for customers, improved forecasting for inventory management, and literally hundreds of other things beneath the surface," Bezos said. The Amazon CEO also said that the company is making AI techniques available to enterprise customers through its cloud division, Amazon Web Services. Bezos is the latest tech chief executive to address the topic of AI. He did not go into some of the dangers of the technology as many of his counterparts have. For example, Jack Ma, CEO of Chinese e-commerce giant Alibaba ( BABA ) , warned that society could face decades of "pain" due to technological advancements. More From CNBC Bitcoin hits another record high and could rally to $4,000, investor says Amazon CEO Jeff Bezos has a good idea of quarterly results 3 years before they happen Stephen Hawking says humans must colonize another planet in 100 years or face extinction || Steve Cohen reportedly plans record-breaking $20 billion hedge-fund comeback: Steve Cohen, whose former investment firm pleaded guilty to criminal insider trading charges, plans to return to hedge funds with a $20 billion goal in mind,The Wall Street Journal reports.
The new hedge fund could launch as early as 2018, according to recent conversations Cohen and his representatives have had with bankers, colleagues and potential investors, the Journal says.
Cohen is restricted from managing others' money until that time.
Should the billionaire's plans go through, this would mark the biggest U.S. hedge-fund launch in history, according to data the Journal accessed from industry publisher Absolute Return.
To surpass his $20 billion target, Cohen is prepared to lower his famously high fees, people familiar with Cohen's plans tell the Journal.
Cohen's new firm is likely to launch with a so-called pass-through arrangement, a relatively uncommon structure under which recurring expenses are paid directly by investors instead of the fund firm, the people familiar with the proposition add.
Cohen's SAC Capital paid $1.2 billion in November 2013 in a settlement with regulators over securities fraud charges. Months after the settlement, Cohen renamed the hedge fundPoint72 Asset Managementto manage his family's fortune.
A representative from Point72 declined to comment, while Cohen was not immediately available for a response.
Read the full report from The Wall Street Journal here.
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• You can't produce if you're not profitable: Kudlow || Chinese fighter jets pulled an 'unsafe' close pass near a US Navy plane over the South China Sea: (J-10s fly in formation at an air show.Xinhuanet)
Chinese fighter jets have once again engaged in "unsafe and unprofessional" behavior around a US Navy plane flying over the contested South China Sea,ABC News reports.
The US Navy plane was reportedly a P-3 Orion, which is used for maritime surveillance.
China has built and militarized artificial islands in the South China Sea and frequently asserts its sovereignty over the land features despite an international court ruling against its claims.
Recently, the USS Dewey, a guided-missile destroyer,contested China's claimsin the South China Sea by sailing past the Mischief Reef, one of China's militarized islands.
The US intends to bring this incident up with Chinese authorities at the next opportunity, according to ABC.
This incident is similar toanother occurrenceearlier in May, when a Chinese jet reportedly flipped over and flew upside down about 150 feet above a US Air Force WC-135.
(Reuters)
NOW WATCH:The US's most advanced missile system is operational in South Korea — and it has China and Russia alarmed
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After trading in a range for the last week, bitcoin climbed to an all-time high Sunday of $3,012.05, according to CoinDesk.
On Chinese exchanges such as BTCC, the currency traded about $40 to $60 above that price. Last week, several major Chinese bitcoin exchanges allowed customers to resume withdrawals of the cryptocurrency, after haltingwithdrawals in early February amid scrutinyfrom the People's Bank of China.
Source: CoinDesk
The digital currency has had a stellar year, rising by more than 200 percent and easily outperforming stock market benchmarks like the S&P 500(INDEX: .SPX)Index and the Nasdaq composite(NASDAQ: .IXIC)in 2017. The cryptocurrency has now more than tripled in value since trading at $968 on Dec. 31, and has gained nearly 30 percent in June alone.
Bitcoin in 2017
Source: CoinDesk
Brian Kelly, CEO and founder of BKCM and a CNBC contributor, told CNBC this week that the cryptocurrency was "in the first years of what is likely to be a multi-year bull market. Of course there will be corrections and even crashes along the way, but bitcoin is here to stay."
A contributing factor to bitcoin's recent surge is growing demand from Asia. In addition to the China factor, Japanese interest has risen ever since the government approved bitcoin as a legal payment method in April.
Investors also plowed more money into the currency after Minneapolis Federal Reserve President Neel Kashkari commented on the blockchain technology behind bitcoin, saying it "has more potential than bitcoin itself."
—CNBC's Fred Imbert contributed to this report.
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• A tech investor heads home to run for Congress in rural California || Cable & Wireless Reports Preliminary Q1 2017 Results: MIAMI, FL--(Marketwired - May 8, 2017) - Cable & Wireless Communications Limited ("CWC") is the leading telecommunications operator in substantially all its consumer markets, which are predominantly located in the Caribbean and Latin America, providing entertainment, information and communication services to 3.6 million mobile, 0.4 million television, 0.6 million internet and 0.8 million fixed-line telephony subscribers. In addition, CWC delivers B2B services and provides wholesale services over its sub-sea and terrestrial networks that connect over 30 markets across the region. Liberty Global's Acquisition of CWC On May 16, 2016, a subsidiary of Liberty Global plc ("Liberty Global") acquired CWC (the "Liberty Global Transaction"). Revenue, Adjusted Segment EBITDA 3 and subscriber statistics have been presented herein using Liberty Global's definitions for all periods presented unless otherwise noted. Further adjustments to these metrics are possible as the integration process continues. The results for the three months ended March 31, 2017 have also been aligned to Liberty Global's IASB-IFRS 1 accounting policies and estimates. Significant policy adjustments have been considered in our calculation of rebased growth rates for revenue and Adjusted Segment EBITDA. For additional information on Liberty Global's definition of Adjusted Segment EBITDA and rebased growth rates, see footnotes 1 and 4, respectively. A reconciliation of net earnings (loss) to Adjusted Segment EBITDA is included in the Financial Results, Adjusted Segment EBITDA Reconciliation & Property, Equipment and Intangible Asset Additions 5 section below. In addition, effective for the 2016 fiscal year, CWC changed its fiscal year end from March 31 to December 31 to conform with Liberty Global. Operating highlights: Delivered Q1 Organic RGU 6 additions of 10,000 Internet 7 and fixed-line telephony 8 subscribers were up 7,000 and 3,000, respectively, on an organic basis, as we increased penetration across our high-speed networks with bundling success in Jamaica, Panama and Trinidad Video subscribers were flat as losses in Jamaica and Trinidad were offset by gains in Panama and the Bahamas At March 31, 2017, we had a bundling ratio of 1.54 RGUs per customer, as 11% of our customers 9 subscribed to triple-play, 32% subscribed to double-play and 57% to a single product. Our high single-play penetration provides potential for continued bundling success Mobile subscribers 10 increased by 27,000 on an organic basis, driven by prepaid additions in Panama Highlights across our largest markets were as follows: In Panama, we continued to build momentum through a revitalized go-to-market approach, adding 8,000 RGUs in the quarter. Of note, we added 2,000 internet and 2,000 cable video RGUs in Q1, as our bundled offers gained traction through network investments enabling faster speeds of up to 300 Mbps. We also continued to grow our DTH 11 base, adding 3,000 RGUs in Q1 as we targeted more rural areas where we do not provide video through our hybrid fiber coaxial ("HFC") network. Our prepaid mobile base grew by 49,000 subscribers in the quarter as we launched data-led promotions and benefited from the seasonal Carnival uplift In Jamaica we added 2,000 internet and 3,000 fixed-line telephony RGUs, however these were offset by a 5,000 video RGU decline. On the mobile front, we lost 10,000 subscribers in Q1, due to prepaid churn following increased promotional activity in the prior quarter In the Bahamas, we added 2,000 RGUs in Q1 with momentum steadily building as we increased penetration of our newly constructed Fiber-to-the-Home (FTTH) network. The entry of our first mobile competitor in November 2016 had an impact on our base, as we lost 6,000 mobile subscribers, both prepaid and postpaid, in the quarter Barbados RGUs declined by 2,000 in total, primarily resulting from a decline in our fixed-line telephony subscribers. We saw stability across video and internet RGUs as we improved service quality across our fixed network, which was a significant improvement compared to an aggregate loss of 5,000 RGUs in the prior quarter across these two products. On the mobile front, we lost 3,000 subscribers from churn following the heavy promotional activity during the December holiday period Trinidad RGU additions were broadly flat, as a 3,000 video subscriber decline resulting from continued competitive intensity was offset by growth in fixed-line telephony through bundling promotions Story continues Footnotes * The financial figures contained in this release are prepared in accordance with IASB-IFRS 1 . CWC's financial condition and results of operations will be included in Liberty Global's consolidated financial statements under U.S. GAAP 2 . There are significant differences between the U.S. GAAP and IASB-IFRS presentations of our consolidated financial statements. 1 International Financial Reporting Standards, as promulgated by the International Accounting Standards Board (IASB), are referred to as IASBIFRS. 2 Accounting principles generally accepted in the United States are referred to as U.S. GAAP. 3 Adjusted Segment EBITDA is the primary measure used by our management to evaluate the company's performance. Adjusted Segment EBITDA is also a key factor that is used by our internal decision makers to evaluate the effectiveness of our management for purposes of annual and other incentive compensation plans. We define EBITDA as earnings before net finance expense, income taxes and depreciation and amortization. As we use the term, Adjusted Segment EBITDA is defined as EBITDA before share-based compensation, provisions and provision releases related to significant litigation, impairment, restructuring and other operating items and related-party fees and allocations. Other operating items include (i) gains and losses on the disposition of long-lived assets, (ii) third-party costs directly associated with successful and unsuccessful acquisitions and dispositions, including legal, advisory and due diligence fees, as applicable, and (iii) other acquisition-related items, such as gains and losses on the settlement of contingent consideration. Our internal decision makers believe Adjusted Segment EBITDA is a meaningful measure because it represents a transparent view of our recurring operating performance that is unaffected by our capital structure and allows management to readily view operating trends and identify strategies to improve operating performance. We believe our Adjusted Segment EBITDA measure is useful to investors because it is one of the bases for comparing our performance with the performance of other companies in the same or similar industries, although our measure may not be directly comparable to similar measures used by other companies. Adjusted Segment EBITDA should be viewed as a measure of operating performance that is a supplement to, and not a substitute for EBIT, net earnings (loss), cash flow from operating activities and other EU-IFRS or IASB-IFRS measures of income or cash flows. A reconciliation of Adjusted Segment EBITDA to net loss is presented in the Unitymedia section of this release. 4 For purposes of calculating rebased growth rates on a comparable basis for the CWC borrowing group, we have adjusted the historical revenue and Adjusted Segment EBITDA for the three months ended March 31, 2016 to reflect the impacts of the alignment to Liberty Global's accounting policies and to reflect the translation of our rebased amounts for the three months ended March 31, 2017 at the applicable average foreign currency exchange rates that were used to translate CWC's results for the three months ended March 31, 2016. The most significant adjustments to conform to Liberty Global's policies relate to the capitalization of certain installation activities that previously were expensed, the reflection of certain lease arrangements as capital leases that previously were accounted for as operating leases and the reflection of certain time-based licenses as operating expenses that previously were capitalized. We have not adjusted the three months ended March 31, 2016 to eliminate nonrecurring items or to give retroactive effect to any changes in estimates that have been implemented in the three months ended March 31, 2017. The adjustments reflected in our rebased amounts have not been prepared with a view towards complying with Article 11 of Regulation S-X. In addition, the rebased growth rates are not necessarily indicative of the rebased revenue and Adjusted Segment EBITDA that would have occurred if the acquisition of CWC had occurred on the date assumed for purposes of calculating our rebased amounts or the revenue and Adjusted Segment EBITDA that will occur in the future. The rebased growth percentages have been presented as a basis for assessing growth rates on a comparable basis, and are not presented as a measure of our pro forma financial performance. 5 Property, equipment and intangible asset additions include capital expenditures on an accrual basis, amounts financed under vendor financing or capital lease arrangements and other non-cash additions. 6 RGU is separately a Basic Video Subscriber, Enhanced Video Subscriber, DTH Subscriber, Internet Subscriber or Telephony Subscriber (each as defined and described below). A home, residential multiple dwelling unit, or commercial unit may contain one or more RGUs. For example, if a residential customer in our Austrian market subscribed to our enhanced video service, fixed-line telephony service and broadband internet service, the customer would constitute three RGUs. Total RGUs is the sum of Basic Video, Enhanced Video, DTH, Internet and Telephony Subscribers. RGUs generally are counted on a unique premises basis such that a given premises does not count as more than one RGU for any given service. On the other hand, if an individual receives one of our services in two premises (e.g. a primary home and a vacation home), that individual will count as two RGUs for that service. Each bundled cable, internet or telephony service is counted as a separate RGU regardless of the nature of any bundling discount or promotion. Non-paying subscribers are counted as subscribers during their free promotional service period. Some of these subscribers may choose to disconnect after their free service period. Services offered without charge on a longterm basis (e.g., VIP subscribers, free service to employees) generally are not counted as RGUs. We do not include subscriptions to mobile services in our externally reported RGU counts. In this regard, our March 31, 2017 RGU counts exclude our separately reported postpaid and prepaid mobile subscribers. 7 Internet Subscriber is a home, residential multiple dwelling unit or commercial unit that receives internet services over our networks, or that we service through a partner network. 8 Telephony Subscriber is a home, residential multiple dwelling unit or commercial unit that receives voice services over our networks, or that we service through a partner network. Telephony Subscribers exclude mobile telephony subscribers. 9 Customer Relationships are the number of customers who receive at least one of our video, internet or telephony services that we count as Revenue Generating Units ("RGUs"), without regard to which or to how many services they subscribe. To the extent that RGU counts include equivalent billing unit ("EBU") adjustments, we reflect corresponding adjustments to our Customer Relationship counts. For further information regarding our EBU calculation, see Additional General Notes below. Customer Relationships generally are counted on a unique premises basis. Accordingly, if an individual receives our services in two premises (e.g., a primary home and a vacation home), that individual generally will count as two Customer Relationships. We exclude mobile-only customers from Customer Relationships. 10 Our mobile subscriber count represents the number of active subscriber identification module ("SIM") cards in service rather than services provided. For example, if a mobile subscriber has both a data and voice plan on a smartphone this would equate to one mobile subscriber. Alternatively, a subscriber who has a voice and data plan for a mobile handset and a data plan for a laptop (via a dongle) would be counted as two mobile subscribers. Customers who do not pay a recurring monthly fee are excluded from our mobile telephony subscriber counts after periods of inactivity ranging from 30 to 90 days, based on industry standards within the respective country. 11 DTH Subscriber is a home, residential multiple dwelling unit or commercial unit that receives our video programming broadcast directly via a geosynchronous satellite. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 6 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com View comments || SinglePoint and First Bitcoin Capital Partner Up In An Effort To Solve Payment Problems in the Cannabis Industry Through Bitcoin and blockchain alternative payment technology: SEATTLE, WA--(Marketwired - Jun 6, 2017) - SinglePoint, Inc. (OTC:SING), an acquisition-based company with a focus on emerging markets, today announces its initiative to develop a bitcoin payments solution in partnership with First Bitcoin Capital Corp. (OTC:BITCF). The two companies signed a Joint Venture agreement to develop and distribute a viable payments solution using block chain technology. First Bitcoin Capital is an industry leading Bitcoin and blockchain technology provider and SinglePoint has a deep history in distribution. The two companies believe this partnership will enable each company to focus on their core strengths to build and supply the best Bitcoin solution available.
With the massive and widespread adoption of Bitcoin worldwide, the two companies will pursue opportunities to leverage their payment technology background and develop a proprietary solution specifically for high-risk payment verticals including the cannabis industry.
SinglePoints' representation at Mobile World Congress in Barcelona this year saw many solutions being utilized in other countries based on Bitcoin and other crypto currencies such as Ethereum. SinglePoint and First Bitcoin Capital believe they have found a way for the customer experience to go unchanged at the point of sale when paying with a credit or debit card at medical and recreational cannabis dispensaries.
Under this initiative, the companies will offer a best-in-class Bitcoin solution to fill the payments gap that currently exists.
As SinglePoint CEO Greg Lambrecht states, "InJanuary 2014SinglePoint announced and started working on a bitcoin payment solution, shortly after we recognized the issue of minimal user adoption of digital currency. The payments industry has rapidly changed since that time. There is now tremendous momentum and demand for bitcoin acceptance as an alternative form of payment. This Joint Venture with First Bitcoin Capital is perfect timing. Bitcoin payments are catching on and cannabis dispensaries need a solution fast."
SinglePoint has successfully completed technology integrations with companies such as Twilio, RedFynn, IATS, and all the major carriers ATT, T-Mobile, Sprint and Verizon. Which has enabled the company to provide its text message marketing and text based payment solutions. SinglePoint will now use its experience to work and integrate with First BitCoin Capital to provide an all-encompassing payment solution. First Bitcoin Capital and SinglePoint plan for this technology to be easily implemented into any Point of Sale machine through a simple download of the application.
Greg Rubin of First Bitcoin Capital stated, "We are optimistic that our partnership with SinglePoint will produce positive cash flow to our bottom line. Between the two of our companies, we will have the ability to develop a best in class solution and SinglePoint will be able to help in distribution. We look forward to providing cutting edge products and services to all states through the establishment of this new venture."
Projections by New Frontier put the cannabis industry at $24 billion by 2026. Cannabis is now legal in some form in 29 states and the District of Columbia. Increased need for payment options correlates with this industry growth, and bitcoin stands to be a promising solution. Based on prices from CoinMarketCap, bitcoin has provided annual returns of over 286%. As a testament, Japan recently recognized the currency as a legal payment method and projects that it will be accepted in 260,000 stores in the near future. Furthermore, bitcoin is an accepted form of payment for a number of large retailers, including Overstock.com.
As the cannabis industry continues to evolve, SinglePoint and First Bitcoin Capital are committed to initiatives to identify and develop solutions that enhance the success of the cannabis industry and participating businesses.
About SinglePoint, Inc.SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary companySingleSeedthe company is providing products and services to the cannabis industry.
Connect on social media at:www.facebook.com/SinglePointMobile,http://www.twitter.com/_SinglePoint_,www.linkedin.com/company/SinglePointandwww.youtube.com/user/SinglePointMobile
For more information visitwww.SinglePoint.comorwww.SingleSeed.com
Forward-Looking StatementsCertain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release. || Bitcoin 'nerds' give way to Wall Street suits at digital currency conference: The world of finance is getting so interested in bitcoin that it's no longer just the land of coders.
"At this conference, one thing I immediately noticed, I have a hard time finding the nerd table," said Joseph Poon, founder of theBitcoin Lightning Network, a system for digital payments. He was speaking on the sidelines of the Token Summit in New York, a conference Thursday that looked at the application of bitcoin's blockchain technology to business.
"For the past five years, it's always been easy to find the nerd table because it's everywhere. The conference was the nerd table. Now it seems like it's all ambassadors, and it's basically like I can only find like 10 people I can recognize here," Poon said.
Wall Street is getting more invested in digital currencies and just in time for Bitcoin to hit a record high. That may not be a coincidence.
Bitcoin has more than doubled in price this year and briefly surged to a record of $2,791.70 Thursday, before briefly erasing $400. The gains come with increased interest in digital currencies, or tokens. Bitcoin(Exchange: BTC=-USS)is a kind of token for which transactions are recorded in a secure accounting system called blockchain.
The demand to attend the Token Summit exceeded organizer William Mougayar's own expectation of 300 — there were as many on the waiting list before he closed it, he said.
He began organizing the Token Summit in December, and out of 650 registrants from 44 countries he said about a quarter were involved with the business and financing side. "I was surprised," he said.
Earlier in the week at another New York digital currency conference, Consensus, Fidelity announced it will allow clients tosee bitcoin and other cryptocurrenciesheld on Coinbase on its website, according to a Reuters report.
Fidelity CEO Abigail Johnson said in the report that the asset manager has also allowed employees to use bitcoin to pay in the firm's cafeteria.
"They basically let the world know they are looking at it," Nick Kirk, formerly of IBM Research and an investor in cryptocurrencies, said from the Token Summit. "The smart money is starting to come in now."
Kirk said he recently met with proprietary trading firms from Chicago that are interested in digital currencies.
It's not just Fidelity that's getting more public about their interest in digital currencies and the underlying blockchain technology. One currency in particular, ethereum, has gained more than 2,000 percent this year because investors see its potential in paving the way for a new, decentralized internet.
Last week, the Enterprise Ethereum Alliance announced 86 new members of the standards-setting development group, including financial communications company Broadridge, clearinghouse DTCC and consulting firm Deloitte. JPMorgan(NYSE: JPM), Intel(NASDAQ: INTC)and Microsoft(NASDAQ: MSFT)were among the founding group.
JPMorgan on Monday also announced at the Consensus conference that the bank is working with the makers of a digital currency called zcash to increase privacy forsettlement of transactions on a blockchain, according to CoinDesk, the conference host.
At Consensus "there were a lot of suits," David Vorick, co-founder and CEO of Sia, a cloud computing company based on blockchain, said of his experience at Consensus. "It just felt like everybody was there doing business. Even myself. I was wearing a suit, and that's not my natural state of being."
Watch: O'Leary suggests shorting bitcoin
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[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $8,390.35 (1.39 %). BUY B256.86 @ $2,350.00 (#Bitfinex). SELL @ $2,361.12 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || ¿Subió el Bitcoin? Verifica ya mismo su precio en tiempo real #Monedas http://www.preciobitcoin.net/?btz70=2206064915 … || One Bitcoin now worth $1527.22@bitstamp. High $1599.97. Low $1495.00. Market Cap $24.913 Billion #bitcoin || #Monacoin 38.7円→[Zaif] -円→[もなとれ]
#NEM #XEM 24.1円↑[Zaif]
#Bitcoin 308,850円↑[Zaif]
06/09 07:00
口座開設はこちらで！ https://goo.gl/31dyoO || #DocGoy: #Bitcoin und kein Ende ... http://ht.ly/Eyna30cqLaA || One Bitcoin now worth $2820.00@bitstamp. High $2933.00. Low $2689.40. Market Cap $46.181 Billion #bitcoin pic.twitter.com/duCSBDOV6m || LBC/BTC Remember DGB? Meet LBRY! $LBCBTC http://www.tradingview.com/chart/LBCBTC/yIC0gSwy-LBC-BTC-Remember-DGB-Meet-LBRY/ … TV_TradingIdeas || Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo ded ···> https://goo.gl/Cdo6SQ _ #España || Are you Bullish or Bearish on #BMW? Start #Trading $BMW with #Bitcoin. 15:1 Leverage. #Stocks #Blockchain #BTC
http://www.elixiumcapital.com/BTC-BMW/ pic.twitter.com/dA453063FF || Re: [ANN] Giga Watt: Best Home for your Mining. Starts today!: Quote from: Mrbates on Today.. #bitcoin #btc http://dld.bz/fPCtA
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Trend: down || Prices: 2689.10, 2705.41, 2744.91, 2608.72, 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-08-17]
BTC Price: 4331.69, BTC RSI: 76.23
Gold Price: 1286.40, Gold RSI: 64.29
Oil Price: 47.09, Oil RSI: 45.21
[Random Sample of News (last 60 days)]
Microsoft is testing a feature to let you control parts of Windows 10 with your eyes: Microsoft (NASDAQ: MSFT) is testing a Windows 10 feature that allows people to control features of the operating system with their eyes. Eye Control is aimed at "empowering people with disabilities to operate an on-screen mouse, keyboard, and text-to-speech experience using only their eyes," Microsoft said in a blog post on Wednesday. Users require eye tracking hardware by Tobii in order to try out the feature. When Eye Control is launched a box appears allowing a user to choose to control the mouse, keyboard or text-to-speech feature with their eyes. When the mouse function is selected, a user has to look at what they want to click on then select, again with their eyes, what action they want to take such as a left click or right click. Typing works in a similar way. Users need to look at letters that they want to type. But Microsoft is also trialing a feature called "shape-writing" to help people type faster with their eyes. "You can form words by dwelling at the first and last character of the word, and simply glancing at letters in between. A hint of the word predicted will appear on the last key of the word," Microsoft explained. The feature is currently in the beta testing stage for the so-called Windows 10 Insider Preview Build, which is available for select users. More From CNBC 'Bitcoin cash' potential limited, but a looming catalyst could help it take off Apple's China revenues fall 10% as analyst claims iPhone has 'gone out of fashion' China's ride-sharing giant Didi Chuxing is backing Uber's biggest rival in Europe || Bitcoin Mining for Dummies: What is Bitcoin Mining? From Start to Finish: How Does it Work? Mining Proof of Work Mining Difficulty What is Bitcoin Cloud Mining? Bitcoin Mining Hardware What is Proof-of-Work? What is Bitcoin Mining Difficulty? How Can You Start Mining Bitcoins? How Can You Make Money in Bitcoin Mining? What is Bitcoin Mining? Bitcoin mining is the validation of transactions that take place on each Bitcoin block. The decentralized nature of Bitcoin means that transactions are broadcasted to the peer-to-peer network and once broadcasted, needs to be verified, confirming that the transaction is valid and then having the transaction recorded on the public transaction database, which is known as the Bitcoin blockchain . Miners basically are the people involved in the processing and verifying transactions before then recording the transactions on the Bitcoin blockchain. Miners will then receive transaction fees in the form of newly created Bitcoins. So, whats involved in the actual mining process? Computers are used to include new transactions onto the Bitcoin exchange and while computers will find it relatively easy to complete the verification process, the process becomes more difficult as computer capability becomes more sophisticated with faster processing speeds. Attempting to get Bitcoin users from around the world to agree on a single version of the transaction is the challenge and it comes down to what is referred to as proof of work. Bitcoin protocol requires those looking to include additional blocks of transactions on the Bitcoin blockchain to provide proof that the user expended a scarce resource, in the case of mining being the processing power of the computers used for the verification process. Miners compete with everyone on the peer-to-peer network to earn Bitcoins. The faster the processing power, the more attempts are made by the hardware to attempt to complete the verification, and therefore earning the miner the Bitcoins that are highly sought after along with transaction fees. Story continues The Bitcoin network is self-evolving, to ensure that the time taken for a miner to win a block is steady at approximately 10 minutes. The speed of processing power in Bitcoin mining is referred to as the hash rate and the processing power is referred to as the hash power of the hardware. To get slightly more technical and introduce some of the more common terms used in the Cryptoworld, the mining process is where Bitcoin mining hardware runs a cryptographic hashing function on a block header. For each new hash attempted, the mining software will use different numbers as the random element, the number referred to as the nonce . Once a proof of work is produced, through the random calculation of nonces until the correct nonce is discovered, a new block is essentially discovered, which is then verified and agreed upon by the peer-to-peer network. At this stage the miner is rewarded with a certain number of Bitcoins, currently set at 12.5 coins, though will halve every 210,000 blocks. In addition to the Bitcoins received, the minor will also be awarded the transaction fees paid by users within the successfully mined block, which is of far greater incentive for miners as the number of Bitcoins per block continues to decline. From Start to Finish: Bundle Transactions, Validation, Proof of Work, Blockchains and the Network The end to end process can perhaps be best described by the following chart that incorporates the various steps involved from mining to ultimately receiving well-earned Bitcoins and transaction fees: Mining Verify if transactions are valid. Transactions are bundled into a block The header of the most recent block is selected and entered into the new block as a hash. Proof of work is completed. A new block is added to the blockchain and added to the peer-to-peer network. Proof of Work A new block is proposed. Header of the most recent block and nonce are combined and a hash is created. A Hash number is generated. If the Hash is less than the Target Value the PoW has been solved. The miner receives the reward in Bitcoins and transaction fees. If the Hash is not less than the Target Value, the calculation is repeated and that takes the process to mining difficulty. Mining Difficulty More miners join the peer-to-peer network. The rate of block creation increases. Average mining times reduce. Mining difficulty increases. The rate of block creation declines. Average mining time returns to the ideal average mining time of 10 minutes. The cycle continues to repeat at an average 2-week cycle. What is Bitcoin Cloud Mining? Bitcoin cloud mining provides a medium to receive newly mined Bitcoins, without the need to own Bitcoin mining hardware or even have any mining knowhow, allowing the mining world to not only attract the technically minded but a far wider audience, who lack the technical knowledge needed to get into Bitcoin mining. The Bitcoin novice has certainly embraced the availability of Bitcoin cloud mining, so whats the difference between Bitcoin mining and cloud mining? It boils down to the location of the Bitcoin mining hardware. For the Bitcoin miner, the user will buy and set up and maintain the Bitcoin mining rigs, which is not something for the technophobes as sizeable electricity costs also a consideration, mining rigs requiring plenty of ventilation and cooling, not to mention 24-7 processing. Cloud mining is supported by mining companies setting up the mining rigs at their own facility, with a cloud miner only needing to register and purchase shares or a mining contract. The user doesnt have to do anything else, with the mining company doing all the work and giving the cloud miner returns on a regular basis. The user essentially buying a proportion of the Bitcoin miners hash power. One of the major concerns over cloud mining is fraud however, there having been plenty of reports of fraudulent activity, not to mention lower profits and even mining companies having the ability to halt operations if Bitcoins price fall below certain levels, so some due diligence on a mining company is recommended, with some basic steps to reduce the risk of being defrauded including: No mining address and / or no user selectable pool. No ASIC vendor endorsement. If there is no advertisements from the ASIC vendor, the mining company may not even own the hardware. No photos of the hardware or datacenter of the mining company. No limit imposed on sales or does not display how much hash rate sold against used in mining. Referral programs and social networking. A mining company willing to pay high referral fees should be avoided as these may well be Ponzi schemes. Anonymous operators should certainly be avoided
No ability to sell your position or get the money out upon sale. Bitcoin Mining Hardware Mining hardware has changed since the early days of Bitcoin, when Bitcoin was mined with CPU s. However, as miners have continued to use their technical abilities to develop hardware capable of earning at much greater number of Bitcoins, leaving CPU and laptop users behind, using a laptop is now unlikely to yield a single Bitcoin even if mining for years. In place of CPUs came Graphic Processing Units (GPUs) , as miners found that using high end graphics cards were far more effective in mining for Bitcoins. The use of GPUs increased mining power by as much as 100x, with significantly less power usage, saving on sizeable electricity bills. Next came FPGAs, Field Programmable Gate Aray , the improvement here being in the power usage rather than actual mining speed, with mining speeds slower than GPUs, while power consumption fell by as much as 5x. Power savings led to the evolution of mining farms and the Bitcoin mining industry as it is known today, where Bitcoin mining power is controlled by a mining few more commonly known as the Bitcoin Cartel. Since FPGAs, the mining community shifted to Application Specific Integrated Circuits (ASICs), where an ASIC is a chip designed for the sole purpose of mining, with no other functional capabilities. While an ASIC chip has only a single function, it offers 100x more hashing power, while also using significantly less power than had been the case with CPUs, GPUs and FPGAs. Evolution of software has slowed, with nothing in the marketplace at present or in development that is expected to replace ASICs, with ASIC chips likely to see minor tweaks at best to try and squeeze out greater efficiencies , though it will only be a matter of time before the Bitcoin world comes up with something newer and faster as miners catchup on hashing power. What is Proof-of-Work? Proof of work is also referred to as PoW. All of the blocks in a Bitcoin blockchain have a series of data referred to as nonces, these are meaningless data strings attached to each block of a Bitcoin blockchain. Mining rigs / computers need to search for the right nonce and, with no simple way in which to find the correct nonce, random computation is used until the correct data string is calculated by the mining rig. The proof of work is therefore difficult to produce, while considered simple to verify, the production of a proof of work being a random process, requiring mining rigs to calculate as many computations per second as possible so as to increase the probability of producing the proof of work. It is for this reason that hash rates / hash power are key considerations in the ability of a mining pool being able to deliver reasonable returns on investment. What is Bitcoin Mining Difficulty? Bitcoin mining difficulty is the degree of difficulty in finding a given hash below the target during the proof of work. Bitcoins target value is recalculated every 2,016 blocks, with mining difficulty inversely proportional to target value. As mining difficulty increases, target value declines and vice-versa. In basic terms, as more miners join the Bitcoin network, the rate of block creation increases, leading to faster mining times. As mining times speed up, mining difficulty is increased, bringing the block creation rate back down to the desired 10 minutes as mentioned previously. Once the mining difficulty is increased, the average mining time returns to normal and the cycle repeats itself about every 2-weeks. How Can You Start Mining Bitcoins? To begin mining and become a node within the peer-to-peer network, and begin creating Bitcoins, all thats needed is a computer with internet access. Wallets can be downloaded for free as can miner programs and once downloaded its ready to go. The reality is that your desktop computer or laptop will just not cut it in the mining world, so the options are to either make a sizeable investment and create a mining rig, or joining a mining pool or even subscribe to a cloud mining service, the latter requiring some degree of due diligence as is the case with any type of investment. In mining pools, the company running the mining pool charges a fee, whilst mining pools are capable of solving several blocks each day, giving miners who are part of a mining pool instant earnings. As a minimum, youll need a GPU and somewhere cool for the mining hardware with fans set up to keep the hardware cool, with a stable internet connection also a must. Two GPU manufacturers are Ati Radeon and Nvidia , whilst Radeon cards are considered much better for mining than Nvidia cards. While you can try to mine with GPUs and gaming machines, income is particularly low and miners may in fact lose money rather than make it, which leaves the more expensive alternative of dedicated ASICs hardware. The best ASICs chips on the market that might be essential for Bitcoin mining in consideration of price per hash and electrical efficiency are Antrouter R1 , Antminer S9 and BPMC Red Fury USB , Antminer the most expensive with a price tag of $2,264.51. How Can You Make Money in Bitcoin Mining? Miners make Bitcoin by finding proof of work and creating blocks, with the current number of Bitcoins the miner receives per block creation standing at 12.5 coins and then the transaction fees for each block, which is approximately 1.5 Bitcoin equivalent in value for each block. The ASIC mining hardware is estimated to pay for itself in about 15-days, assuming a retail price of just under $2,500 and after than it ultimately boils down to the rate of increase in miners, which then requires greater computing power to be able to maintain the same level of coin creation and receipt of transaction fees. In an nutshell, if youre going to try to use a CPU or laptop, mining pools are going to be a possible option and even then youre not going to be making much if any, as your contribution to the mining pools mining power will be limited at best, which leaves you with cloud mining as the only real option unless youre willing to invest in the hardware and accept the electricity costs that come from all year round mining and thats before the necessary upgrades and new equipment that is to be expected with overuse. Can you get rich off the mining process? More likely from the appreciation in Bitcoin value than the mining itself, with a few mining pools accounting for the lions share of Bitcoins mining power making it difficult for new miners to enter the fray. While users have looked at the cloud mining option, the real experience is in owning your own mining rig and learning the technology and processes behind Bitcoin mining, something that you wouldnt experience through cloud mining. This article was originally posted on FX Empire More From FXEMPIRE: Will Hassan Rouhanis Inauguration Affect the Markets? Record Highs Become Routine for the Dow Jones, Markets are Ready for The Ninth Straight Day of Records Weak German Production Data Weighs on Riskier Assets Global Markets Likely to See More Risk Appetite Morning Marke Update AUD/USD The Dollar Bears Are Back After Taking a Break on Friday || Bitcoin splits, but clone off to slow start: By Anna Irrera and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin's underlying software code was split on Tuesday, generating a new clone called "Bitcoin Cash," but the new virtual currency got off to a slow start due to lackluster support for its network. The initiative was headed by a small group of mostly China-based bitcoin miners - programmers who essentially operate the bitcoin network - who were not happy with scheduled improvements to the currency's technology meant to increase its capacity to process transactions. These miners, who get paid in the currency for contributing computing power to the bitcoin network, initiated what is known as a "fork" on Tuesday, where the underlying blockchain splits into two potential paths, creating a new digital currency. The blockchain is a shared online ledger of all bitcoin transactions and has spawned a range of financial and business applications. Bitcoin's split has created a new competitor to the original digital currency, which remains the oldest and most valuable in circulation. Yet only a small fraction of bitcoin miners have been contributing their computing power to the new blockchain, and it took nearly six hours for the first batch of Bitcoin Cash coins to be mined this afternoon, according to Blockdozer Explorer, a firm providing data on digital currencies. "It's been a slow start for Bitcoin Cash," said Iqbal Gandham, managing director at trading platform eToro. "The delay ... could be a result of a lack of miner support for the new cryptocurrency." Bitcoin Cash on Tuesday traded on certain exchanges at a median price of $146.37, according to bitinfocharts.com, while bitcoin was at $2,729 on the BitStamp platform, down 4.6 percent from Monday. After the split, Bitcoin Cash has all the history from bitcoin's blockchain, creating the same number of tokens, plus the new currency created. People who held bitcoins before the split now have access to an equal amount of Bitcoin Cash for free, which they will then be able to trade for fiat currencies - legal tender such as euros and dollars - or other digital tokens. The creation of new tokens may speed up as less computing power will be required to mine new blocks, said Jeff Garzik, co-founder of blockchain startup, in an email. Ryan Taylor, chief executive of Dash Core, a firm that manages the development of the Dash digital currency, said Bitcoin Cash may yet be short-lived. "Bitcoin Cash has not solved scaling," Dash said. "It has merely kicked the can down the road with slightly larger blocks, but still lacks a credible technology to scale to massively larger numbers of users." (Reporting by Anna Irrera and Gertrude Chavez-Dreyfuss; Editing by Bill Rigby) || SinglePoint Signs Deal to Manufacture CBD Hemp Oil Patches -- CFN Media: SEATTLE, WA--(Marketwired - Jul 10, 2017) - CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article that will take a look at SinglePoint Inc.'s ( OTC PINK : SING ) recent agreement with Premier Biomedical Inc. to begin manufacturing Premier's newly designed CBD Hemp Oil Patch products in high volume. The cannabis industry is projected to exceed $50 billion by 2026, according to Cowen & Co., driven by the ongoing legalization of medical and recreational marijuana. While recreational marijuana has drawn a lot of attention, tetrahydrocannabinol's (THC) non-psychoactive cousin, cannabidiol (CBD), has been experiencing tremendous growth as researchers continue to unlock its potential across a wide range of medical conditions. Generating Revenue SinglePoint recently announced a deal with Premier Biomedical to mass-manufacture its CBD Hemp Oil Patch and potentially future products. The deal provides the company with a consistent stream of revenue while it continues to execute organic growth initiatives and make strategic acquisitions in the cannabis industry. In addition, the potential to add future products to the mix opens the door to scaling these revenue streams higher. "We have been working very hard on making acquisitions and inside sales to boost revenue," said SinglePoint CEO Greg Lambrecht in a press release announcing the partnership. "This new business will contribute significantly to our revenue goals." Premier Biomedical benefits from the mass manufacture of its topical pain relief products, which will help the company aggressively expand its distribution network through retail outlets, health care facilities, pharmacies, and various online shopping platforms. "We are excited that we found a volume supplier for our products," said Premier Biomedical President & CEO William Hartman in the same press release. "This significantly increases the company's initiatives and enables us to grow revenues through expansion of sales volumes in both domestic and foreign markets. We look forward to working with SinglePoint to continue bringing current and future planned new products [to market]." Story continues Horizontal Market Strategy SinglePoint has evolved from a mobile technology provider to a diversified cannabis holding company with a presence in several industry segments. Management's horizontal market diversification strategy involved acquiring portfolio companies, leveraging economies of scale, and unlocking incremental value through synergies. For example, the company's recent acquisition of 90% of DIGS provided it with an online, retail, and consulting arm. At the center of the so-called "hub-and-spokes" business model, SingleSeed has become a supplier of products and services to the cannabis industry. The company's strong historical presence in the cannabis industry -- cultivated over several years through its payment offerings -- provides a strong base for growth, while SingleSeed is designed to connect various portfolio companies by sharing customers and synergies. The company has also established partnerships designed to enable its entry into other market segments. For instance, the company recently raised $1 million from an institutional investor to close deals in the cryptocurrency market. The company's new funding and partnership with First Bitcoin Capital is designed to expedite the development of effective payment solutions for the cannabis industry. Looking Ahead SinglePoint Inc. ( OTC PINK : SING ) represents a compelling and diversified opportunity within the cannabis industry. While its primary focus is on payments, the company's agreement with Premier Biomedical to manufacture CBD products opens the door to near-term revenue opportunities that could help finance its ongoing growth and future acquisitions. Please follow the link to watch the interview and read the full article: http://www.cannabisfn.com/singlepoint-signs-deal-manufacture-cbd-hemp-oil-patches/ For more information, visit the company's website or CannabisFN's company profile . About CFN Media CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed. Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/become-featured-company/ Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8 Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com Disclaimer: Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/ || USA Made Organic CBD Oil Named Best Value CBD Brand: NEW BRUNSWICK, NJ / ACCESSWIRE / July 7, 2017 /An organic CBD oil product from a US company has been named as the Best Value CBD by CBDReVu.com, a popular international destination for news and reviews of CBD oil products. For more information about the selection, go herehttps://cbdrevu.com/.
According to CBDReVu.com, the retail market for CBD oil products is growing rapidly. Some industry estimates indicate that the CBD market should grow to a $2.1 billion in retail sales by 2020. That would represent a huge 700% increase from 2016. In 2015, retail sales of industrial hemp-sourced CBD oils were about $90 million, plus an additional $112 million in cannabis-sourced CBD oils marketed via dispensaries, bringing total CBD oil sales to $202 million in 2016.
Cannabidiol, also known as CBD, is a compound in hemp and cannabis plants that has no psychoactive effect. In order words, CBD, unlike the better-known THC, does not have any intoxicating effects. There is growing evidence that traditional recreational marijuana smokers are increasingly interested in CBD. One large licensed cultivator on the west coast says they have calculated that 38% of marijuana users, as well as non-users, have indicated they want to learn more about CBD oil.
So, the CBD oil market projected to grow dramatically. Entrepreneurs and Wall Street have taken notice and jumped on the bandwagon in an attempt to get a piece of this potentially huge market. According to industry research data, in the state of Washington, alone, there are over 800 CBD products available. This diversity of products, some good and some bad, put consumers in a difficult position as they try to sort out the authentic quality products from the pretenders. Like any other food or nutritional item, consumers want thebest CBD oil, but in order to find the high-quality products, consumers must do some homework. All companies market their products as the best, but very few products live up to the hype. Even though many credible commentators, like CNN's Dr. Sanjay Gupta, have said positive things about the potential of CBD and medical marijuana, companies marketing these products often cross an ethics line when they make unproven medical claims. One of the first red flags for consumers that should be a signal to stay away from any product in the nutritional space is when the company makes any medical claims about diseases or conditions that CBD or medical marijuana will help or cure. That's because the evidence to support such claims does not exist. There are other caveats consumers should be alert to.
In addition to the difficulty of sorting through the various products, the regulatory picture for the substance is another minefield. Some saypure CBD oilis perfectly legal, and some say it is not. Most companies ship the product anywhere in the USA, but others do not. Some companies let consumers buy with their credit cards, while others only take cash or Bitcoin payments. The bottom line is that, from a legal standpoint, the whole scenario is very confusing and controversial. But, in the meantime, CBD product sales are strong and growing.
About CBDReVu.com
CBDReVu.com is based in New Brunswick, New Jersey, USA, and writes about the emerging legal cannabis industry.
SOURCE:CBDReVu.com || Digital Power, Growth Through Acquisition, Innovation in Cryptocurrencies and Bitcoin Mining: NEW YORK, NY / ACCESSWIRE / August 17, 2017 /Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on Digital Power Corporation (NYSE American: DPW), a company that designs, manufactures, and sells high-grade customized and off-the-shelf power system solutions. The Company's wholly owned subsidiary, Digital Power Limited that does business as Gresham Power Electronics, is based in Salisbury, UK. The Company's majority owned subsidiary, Microphase Corporation, has its headquarters in Shelton, CT.
Digital Power recently announced the formation of a subsidiary, Coolisys Technologies, Inc. The company also announced that Coolisys has entered into an Agreement with PoW Digital Mining to lead its development of an equipment and services portfolio targeting Digital Mining and related research and development of Crypto Currency. These active digital mining markets led by Bitcoin, Ethereum and the other 900+ digital currencies have created a growing hardware demand driving the need for efficient low-cost power solutions.
Get more details about Digital’s Bitcoin Mining venture and a Q1 review here:READ MORE.
Copy and paste to your browser may be required to view the report -http://tradersnewssource.com/digital-power/.
Coolisys is a wholly owned subsidiary operating as a technology-centric holding company dedicated to servicing the defense and aerospace sectors, as well as industrial and medical based businesses worldwide.
Coolisys, has recently entered into an agreement to purchase Power-Plus Technical Distributors, LLC, a California limited liability company. Power-Plus is in the business of transforming standard off-the-shelf power supplies into fully tested, plug-and-play power systems specifically tailored to meet customer applications. As per management, this acquisition would add significant value and will be assisting Coolisys to unlock value throughout its subsidiaries.
Get full details of these developments and an analysts target price in our full report:READ MORE.
Copy and paste to your browser may be required to view the report -http://tradersnewssource.com/digital-power/.
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SOURCE:Traders News Source || The pizza-making robots that want to change the world: HBO’s comedy “Silicon Valley” makes fun of the way even boring startup tech companies adopt the same mission statement: “To make the world a better place.”
But serial entrepreneur and former Microsoft executiveAlex Gardenisn’t shy about stating his new company’s path to making the world a better place—throughpizza. It’s not just any pizza, though. Zume pizzas are made by robots, and they’re cooked in pizza ovensinsidedelivery trucks.
“One of the founding principles of this company is that every American has a right to a healthy meal they can afford,” he told me. “If you look at pizza, what is it? It’s high-quality bread, and high-quality organic vegetables, and meats and cheeses. All of these things are things that are good for you in moderation. And the number of calories really is a function of how much sugar is in the food. Zume Pizza is half the calories per slice, roughly half the cholesterol and half the fat, of any of the national leading chains.”
How? “The main reason is sugar,” says Garden, whose pizzas range in price from$10 for a cheese to $20 for a pineapple express.
“We don’t put any extra sugar in the sauce. We don’t put any extra sugar in the dough. And we let our dough age for 24 hours; during that process, the fermentation of the dough further reduces the sugar in it.”
He also has much to say about where he gets his ingredients—directly from the providers, without the warehouses and distribution channels that, say, Pizza Hut (YUM) or Domino’s (DPZ) employ. He uses software—predictive algorithms—to know what he’ll need when. He makes his sausage and tomato sauce in-house.
But that’s not the most headline-grabbing feature of Zume pizza,which was founded in 2015 and currently delivers in Mountain View, California, and surrounding areas. The biggest feature is the robots.
Inside the Zume kitchen, robots are displacing more human workers every passing month. These days, one robot presses out the dough into the familiar flattened circle; a second and third (Pepe and Giorgio) squirt tomato sauce or white sauce onto each pie; a fourth (Marta) spreads the sauce around (“perfectly, but not too perfectly,” Garden says). Humans apply the toppings, but then a fourth machine (Bruno) scoops up the pizza from the conveyor belt and delicately lays it into the baking oven; a fifth (Leonardo) chops it neatly into eight slices with a single, 200-pounds-of-force stroke.
Eventually, Garden and his cofounder Julia Collins intend to replace all of the humans in their pizza shop.
The robots are fun to watch—as long as you can avoid thinking, “This is what the end of human employment looks like.”
But Garden insists that replacing the people is also part of making the world a better place.
“The automation exists so that we can eliminate boring, repetitive jobs, and provide a more rewarding work environment for our employees,” he says. “And it exists so that we can buy higher quality ingredients. That’s the reason why we use it.”
For example, he says, “taking a pizza off of a production line and putting it into an 800-degree oven is actually not particularly rewarding, and it’s also quite dangerous. So we found a way to automate that work now that was previously done by a person.
“So what happens to the person? Well, good news. We’re a high-growth company. We have people who’ve moved from a role in the kitchen to other roles—to customer support or to finance. You come in and prove that you can work the Zume way, and we make a lifetime commitment to you in return.”
The math still didn’t work for me. “But today, 100 people work here,” I said. “If you didn’t have the robots, it would be 115.”
“That is true,” he replied, “but here’s the point you have to consider. If you took a national competitor that we compete against, what percentage of their workforce are making the absolute rock-bottom minimum wage for the place they work? $7 an hour, $7.50 an hour? Do they have benefits? Is it a safe job? What hours are they working?
“Every employee in this company makes a minimum of $15 an hour. Everyone gets full medical, dental, vision [insurance] for them and for their families. And everyone, when they hit their six-month mark, becomes a shareholder. So you can make an argument that the absolute number of employed people is the way to go; we don’t believe that.”
Garden and his team have obsessed over every aspect of the American pizza-delivery system—including the box. Zume’s pizza is excellent, but the box is a masterpiece. (“So you redesigned the box?” I asked him. His reply: “We didn’t redesign the box. We designed the box.”)
It’s made of compressed sugar cane (!), so it’s compostable, biodegradable, and collapsible—you can fold it up to fit your compost or trash can. Garden says that it also keeps the pizza warmer, keeps it dry, and prevents it from getting soggy, thanks to eight narrow channels below the pizza, like spokes. They conduct moisture down and away from the crust, pooling in a shallow well under the middle. “Your hands will be completely clean after you eat a Zume pizza, because there’s no grease or sogginess anywhere.”
(This I found hard to believe. But as my family discovered when we ate Zume pizza that night, it’s absolutely true: Our fingers were not greasy.)
The box’s lid slips under the lower box, which (a) creates a nice little stand and (b) doesn’t occupy your entire table with the ugly, greasy open lid, as a regular box does.
It even has shallow round depressions that match depressions in the top of the lid, so that stacked boxes sort of interlock. “With one hand, you can carry five pizzas and walk around, and there’s no hope of them falling over,” Garden points out.
But Alex Garden isn’t finished yet. He’s also reinvented the delivery truck.
Each one contains 28 or 56 individual pizza ovens. By consulting GPS, the truck fires up the oven when it’s four minutes away from your house, so that the pizza is coming out of the oven as the truck arrives.
That cook-en-route system might sound like it was designed to give you freshly baked pizza, but it was actually Garden’s solution to a knotty governmental problem: It’s against the law for workers to cook food in a truck while it’s moving.
The solution, of course, was to automate the cooking while in motion. No person is involved, and so no laws are broken.
Laws also dictate, by the way, that a food truck must contain a three-compartment sink—for washing utensils, spatulas, and so on. Garden didn’t want to devote precious oven space to some sink apparatus. So he came up with a utensil-free truck. As the pizza finishes cooking, it ejects from its oven like a CD from its player, and goes directly into the Zume pizza box. “No one ever touches the food,” he says, and so there’s no need for a sink in the truck.
The part of Zume’s master plan that I found hardest to believe was that often, your pizza is on its truck before you even order it. Garden says that Zume’s AI software predicts what pizzas its customers will order, when, and pre-loads them onto the truck. How could he possibly know what his customers will order?
“Do you order pizza?” he asked me.
Yes, I told him.
“And how often would you say when you order pizza, you get the same thing you got last time?”
“Probably 95% of the time,” I admitted.
“Usually on the same day that week? Yeah. That makes you like most of the other people in the country. So if you think about that…Plus things like, when there’s a game you get more orders; when it’s hot out, you get fewer orders; you sell a lot more cheese pizza around 6:00 p.m. than you do at 9:00 p.m.; [you get spikes during] political debates; and another three or four dozen factors that we take into consideration when we’re predicting volume.
“Then we look at it neighborhood by neighborhood. Perhaps there’s a neighborhood that really likes Hawaiian pizza, there’s another neighborhood who really likes pepperoni pizza. So we have all of these signals and they give us the ability to predict about 95% of the time what people are going to order, before they do.”
And what if there’s a run on pineapple pizza on a weird day?
“We have what we called field reloading, which is giving the trucks more inventory in flight. It’s almost like air-to-air refueling in the Air Force.”
Zume has been steadily expanding the towns its trucks can reach: Now, Mountain View, Palo Alto, Menlo Park, Atherton, and East Palo Alto. Next year, all of California; then to the whole country; then the world.
That’s the plan, anyway.
Will Zume’s robots and lofty goals really make the world a better place?
Well, already they’re making the world a better pizza—and that’s a good start.
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David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || A Coinbase investor says the platform might reverse its bitcoin cash ban in the next few days: (Barry Schuler, pictured in 2001, when he was still CEO and chairman of America Online.Manny Ceneta/Getty Images)
Coinbase has spent much of this weekin the weedsover its decision not to accept the newly minted digital currency bitcoin cash. But the company could reverse that decision in the next few days, an investor told Business Insider.
"I think the company will be in a position to make an announcement in the next few days, and one could be supporting bitcoin cash in due course,"said Barry Schuler, a partner with DFJ, an investor in Coinbase."Currently, they're evaluating the activity — how the blockchain matures, if there's the appropriate level of mining activity. It's very important that there's liquidity."
Liquidity — the ability to convert an asset into cash — is an important factor for Coinbase because of its overall strategy to only trade currencies which are established and stable.
A spokesperson for Coinbase said that the company would "have an update on thislater today," but it is unclear whether this will include a final decision or just more information on the company's decision-making process.
On Tuesday, however, Coinbase CEO Brian Armstrong wrote that the company was agnostic to which currencies its users trade and that it was not opposed to adding new assets in the future.
"Our goal is to be the safest, most trusted and compliant, and easiest to use," Armstrong wrote on Twitter. "Not the first to market with new assets. Especially at scale, it takes time to ensure any new asset we add is well tested and secure."
Users were forewarned that they would need to move their bitcoin off of Coinbase if they wanted to use bitcoin cash, and many did, leading to reported wait times of 12 hours for some traders over the weekend.
Bitcoin cash started out with zero value when it was first established on Tuesday, but has quickly shot up to a high of $691.94 on Wednesday. As with many new digital currencies, it's still rather unstable, and currently sits around $397.
Read more about Coinbase and its initial decision not to accept bitcoin cash.
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• Facebook bought an AI startup that could turn its middling virtual assistant into a Siri killer || Bitcoin splits, but clone off to slow start: By Anna Irrera and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin's underlying software code was split on Tuesday, generating a new clone called "Bitcoin Cash," but the new virtual currency got off to a slow start due to lackluster support for its network. The initiative was headed by a small group of mostly China-based bitcoin miners - programmers who essentially operate the bitcoin network - who were not happy with scheduled improvements to the currency's technology meant to increase its capacity to process transactions. These miners, who get paid in the currency for contributing computing power to the bitcoin network, initiated what is known as a "fork" on Tuesday, where the underlying blockchain splits into two potential paths, creating a new digital currency. The blockchain is a shared online ledger of all bitcoin transactions and has spawned a range of financial and business applications. Bitcoin's split has created a new competitor to the original digital currency, which remains the oldest and most valuable in circulation. Yet only a small fraction of bitcoin miners have been contributing their computing power to the new blockchain, and it took nearly six hours for the first batch of Bitcoin Cash coins to be mined this afternoon, according to Blockdozer Explorer, a firm providing data on digital currencies. "It's been a slow start for Bitcoin Cash," said Iqbal Gandham, managing director at trading platform eToro. "The delay ... could be a result of a lack of miner support for the new cryptocurrency." Bitcoin Cash on Tuesday traded on certain exchanges at a median price of $146.37, according to bitinfocharts.com, while bitcoin was at $2,729 on the BitStamp platform, down 4.6 percent from Monday. After the split, Bitcoin Cash has all the history from bitcoin's blockchain, creating the same number of tokens, plus the new currency created. People who held bitcoins before the split now have access to an equal amount of Bitcoin Cash for free, which they will then be able to trade for fiat currencies - legal tender such as euros and dollars - or other digital tokens. The creation of new tokens may speed up as less computing power will be required to mine new blocks, said Jeff Garzik, co-founder of blockchain startup, in an email. Ryan Taylor, chief executive of Dash Core, a firm that manages the development of the Dash digital currency, said Bitcoin Cash may yet be short-lived. "Bitcoin Cash has not solved scaling," Dash said. "It has merely kicked the can down the road with slightly larger blocks, but still lacks a credible technology to scale to massively larger numbers of users." (Reporting by Anna Irrera and Gertrude Chavez-Dreyfuss; Editing by Bill Rigby) || Cramer's lightning round: You're swinging for the fences in this space: It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:
Applied Optoelectronics(NASDAQ: AAOI): "Boy, you're swinging for the fences with the optical plays, including that one. You know what? I'm going to send you back to the drawing board with Broadcom(NASDAQ: AVGO). People don't want to buy Broadcom because it's more than $200. That's penny-wise and pound-foolish."
Nutanix(NASDAQ: NTNX): "I think Nutanix is undervalued here. I like enterprise storage. I can't believe the stock isn't up more after that terrific quarter."
Reynolds American(NYSE: RAI): "OK, just hold on to it [through the takeover]. You're going to do great."
Ulta Beauty(NASDAQ: ULTA): "I think that [CEO] Mary Dillon is doing a remarkable job. I liked that tie-up recently with Estee Lauder(NYSE: EL). [Estee Lauder CEO Fabrizio] Freda's doing an unbelievable job. Fabrizio and Mary are two of the best executives in the industry and I want you to buy Ulta. Look, and I know the chart looks bad. Alright, alright, alright."
Mosaic(NYSE: MOS): "I think more of a broken stock than company, but you know, if I'm going to go [agriculture], I'm going AGCO(NYSE: AGCO). [AGCO CEO] Martin Richenhagen is the man."
Farmland Partners(NYSE: FPI): "Too speculative for me. Again, I am going to return to the Martin Richenhagen theory, AGCO."
KeyCorp(NYSE: KEY): "I understand it didn't do well in the stress test, but I think [CEO] Beth Mooney's terrific. My charitable trust owns it. I'm holding it because it's got growth. It was a bummer to see that it didn't do that well. Maybe they have to boost some capital. I don't think they have to. I'm sticking by KeyCorp. I'm sticking by Beth Mooney."
FireEye(NASDAQ: FEYE): "I'm not a buyer. I like Proofpoint(NASDAQ: PFPT)here. I think Proofpoint's doing better. That's the one I would buy."
B&G Foods(NYSE: BGS): "Haven't liked the last couple of quarters. Don't even want that yield if I can't get growth. The food business? I say ixnay, let's go to Mondelez(NASDAQ: MDLZ)."
Questions for Cramer?Call Cramer: 1-800-743-CNBC
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[Random Sample of Social Media Buzz (last 60 days)]
Life is like... #Bitcoin #BTC https://www.reddit.com/r/Bitcoin/comments/6tcvgt/life_is_like/ … || World #1 #bitcoin exchange platform #ChinacceleratorBatch8 @BitMEXdotcom featured in @mikewalsh's podcasthttp://www.mike-walsh.com/podcast/arthur-hayes … || #Monacoin 42.2円↓[Zaif] 28.17円↑[もなとれ]
#NEM #XEM 27.5円↑[Zaif]
#Bitcoin 470,645円↓[Zaif]
08/18 04:00
口座開設はこちらで！ https://goo.gl/31dyoO || BTC4000ドルだぜ！ || Bitcoin Prices Pass $4,000 for the First Time... Or AU$5000! Wow.http://bit.ly/2wFFUAL via @CoinDesk || Fiat has curently lost value, the real measure should be against Btc || #Bitcoin ฿1 BTC is equal to $3958.08 USD! #GoldCoinJar || Bitcoin Marketshare:48% BTC Price:$2,750.70 BTC Marketcap:$45,297,977,460.00 Altcoin Marketcap:$49,487,056,791.00 || THE GENESIS MINING LOTTERY - New Episode: "Bitcoin direction 5000$ ?!" - 13 August 2017 —#bitcoin #btc #genesishttps://steemit.com/cryptocurrency/@tizswa/the-genesis-mining-lottery-new-episode-bitcoin-direction-5000usd-13-august-2017 … || Find my link to register Cointree with as little as 0.0100 BTC and earn 0.0001 BTC daily whatsapp 0625420178... http://fb.me/1BlenAQIT
|
Trend: up || Prices: 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-12-22]
BTC Price: 23783.03, BTC RSI: 72.75
Gold Price: 1866.60, Gold RSI: 52.40
Oil Price: 47.02, Oil RSI: 59.43
[Random Sample of News (last 60 days)]
$76M Ether Fund Makes World First IPO on Canadian Stock Exchange: An Ethereum-based fund has completed its initial public offering (IPO) on the Toronto Stock Exchange (TSX). According to a press release on Thursday, Canadian investment fund manager 3iQ announced the sale of more than 7.2 million Class A and F units totaling gross proceeds of around $76.5 million. The Ether Fund Class A Units, aimed at all investor types, have opened for trading under the symbol QETH.U. Investors in the U.S. are specifically excluded, however. 3iQ successfully launched a similar bitcoin fund earlier this year. The ether products exchange listing marks a world first, according to a tweet by the fund manager on Thursday. Related: This One Graph Shows Ether Going From CeFi to DeFi: Glassnode See also: $14M Bitcoin Fund Gets Listed on Toronto Stock Exchange The fund is aimed to provide investors with the ability to purchase shares in the fund and receive exposure to changes in ethers price over time, providing investors with the opportunity for long-term capital appreciation, per the statement. Ether is the native cryptocurrency of the Ethereum blockchain network. U.S.-based cryptocurrency exchange Gemini said it will provide exclusive custody of the funds assets. The exchanges co-founder, Tyler Winklevoss, declared it was huge news for Ethereans, in a Thursday tweet . Related Stories $76M Ether Fund Makes World First IPO on Canadian Stock Exchange $76M Ether Fund Makes World First IPO on Canadian Stock Exchange $76M Ether Fund Makes World First IPO on Canadian Stock Exchange || Why Cryptocurrencies Have Made a Dramatic Comeback in 2020: If you have kept track of the financial news at all in the last six months, then you are likely aware that the cryptocurrency market has picked up considerable momentum this year, with many cryptocurrencies experiencing incredible growth in recent months. Since the beginning of the year, major cryptocurrencies like Bitcoin ( BTC-USD ), Ethereum ( ETH-USD ), and XRP ( XRP-USD ) have outperformed practically all other asset class classes, by achieving 165%, 342%, and 156% respectively against the US dollar (USD) in this time. These figures dwarf those achieved by major stock indices during the same period, Including the S&P 500 ( ^GSPC ), which is up 14.36% YTD, and the DOW Jones ( DOW ) — which gained a modest 5.28% YTD in 2020. This growth was driven primarily by a dramatic, and rather sudden shift in consumer sentiment — which was catapulted by major developments made by several prominent cryptocurrencies, as well as renewed interest among financial institutions. Altcoins Steal the Show Though Bitcoin is undoubtedly the best-known cryptocurrency, it isn’t one of the best performers this year when measuring the top 100 major cryptocurrencies by their performance. Instead, a wide range of altcoins has managed to eclipse the gains seen by Bitcoin during this period, with cryptocurrencies like Aave (AAVE), Band Protocol (BAND), Yearn Finance (YFI), and Reserve Rights (RSR) all clocking in gains of between 1,000% and 4,600% YTD. The vast majority of the most successful cryptocurrencies this year operate in the decentralized finance (DeFi) niche. Essentially, these are the tools and services that offer functionality similar to that provided by traditional financial institutions, such as banks, brokers, insurance providers, exchanges, and more — but in a decentralized way thanks to blockchain technology. The DeFi sector has seen explosive growth in 2020, with the total value of digital assets locked up in DeFi protocols soaring from $650 million to over $14.7 billion in the last year according to stats from DeFi Pulse. Story continues But more than this, 2020 has been the year where many blockchain-based projects revealed their full potential — kicking up a great deal of interest in the altcoin space. Ethereum began transitioning to its long-anticipated Ethereum 2.0 platform, Polkadot (DOT) began laying the foundations for its parachain slot auctions , and Tron ( TRX-USD ) made a major DeFi push with the release of several DeFi projects. On top of this, Velas (VLX) — a platform that uses “artificial intuition” to power its next-generation blockchain platform — is set to launch its own suite of products that might just fuel another wave of interest in the altcoin space. As per its recent announcement, Velas is set to launch a blockchain-powered social content platform known as BitOrbit, with a built-in multi-asset wallet and support for solidity-based MicroApps — potentially signaling the first wave of DeFi apps on Velas. In development for more than a year, BitOrbit will feature a secure chat solution and IPFS-powered storage, making it a potential gamechanger for the cryptocurrency industry. Institutional Adoption On the Rise Although the striking developments in the blockchain project and altcoin industry have dramatically improved the utility of cryptocurrencies, and hence their desirability among everyday users, there is another major driver behind their recent boom — institutional interest. Widely regarded as one of the biggest challenges facing modern cryptocurrencies, getting major financial players to adopt digital assets and invest in blockchain-based infrastructure has proven challenging in recent years — as many major players instead adopted a wait and watch approach to the technology. But it appears this approach is slowly changing, thanks to a massive wave of institutional investments and adoption by several surprising names in the finance industry. First and foremost is the global online payment giant PayPal ( PYPL ), which made its foray into the cryptocurrency space with its recently released cryptocurrency wallet and online shopping feature. As a result, PayPal is now the largest financial player to directly support cryptocurrency deposits, and bought the vast majority of all newly mined Bitcoin in recent months. This sent PayPal’s stock price soaring to its highest ever value, at over $220 a share. Likewise, Square’s ( SQ ) competing online payment platform Cash App has also ramped up its BTC purchases in recent months, seeing a similarly massive spike in its stock price as a result to reach its all-time high. https://twitter.com/PanteraCapital/status/1329856768743235586 Beyond this, major crypto investment funds like Grayscale, Pantera, MicroStrategy, and MassMutual have ramped up investments in major cryptocurrencies, and Bitcoin in particular, in the second half of 2020. This renewed interest among institutions and major financial entities has kickstarted a bull run for many cryptocurrencies. And with more banks than ever before now exploring the use of blockchain technology and considering cryptocurrency custody services, it might not be due to end any time soon. Disclosure: No positions. This Op-Ed is written by Reuben Jackson . Insider Monkey News Department isn’t involved in the production of this article. || Crypto Processing Made Easy by CoinsPaid: A Trailblazer with its Instant Payments Both in Crypto and Fiat Currencies: TALLINN, ESTONIA / ACCESSWIRE / November 17, 2020 / The ecosystem designed by CoinsPaid enables the payment of a wide range of cryptocurrencies, thanks to its powerful built-in processing service - Cryptoprocessing.com. Payments can be automatically converted into fiat money and managed risk-free in a multicurrency wallet, with absolutely no commission between CoinsPaid user accounts. Already 3% of the global volume of Bitcoin transfers has been conducted through CoinsPaid since the beginning of 2020. Cryptocurrencies are gaining popularity as a means of payment among both consumers and companies and allow for fast and secure transactions. What's more, suppliers of goods and services appreciate the absence of high fees as in banks and other payment systems. Payment cancellation is almost impossible, which shrinks the risk of fraud. Year after year, a growing number of companies include cryptocurrencies into their payment methods for goods and services. They include such giants as the American retailer Overstock and Japanese Rakuten, Etsy e-commerce platform, the Wholesale Roots chain of cafes and restaurants, Subway and Domino's Pizza, AT&T telecommunications companies, Travala and Cheap Air travel companies, Stephen James Group (the official dealer of BMW), and many others. According to Blockchain.com, the daily volume of transactions in Bitcoin alone has increased 2.5 times over the past five years, from 128,000 transactions worth less than $100 million back in 2015 to nearly 300,000 transactions worth almost $2.8 billion now. CoinsPaid's Cryptoprocessing.com payment gateway allows payments in more than 30 cryptocurrencies, no matter where the end-user is. Companies connected to the CoinsPaid processing service have an opportunity to enable the automatic conversion of cryptocurrencies into fiat money. They can then receive payment for goods and services directly to their bank account in the national currency of their choice - US dollars, euros, pounds, and other currencies. Story continues "Cryptocurrencies are a convenient payment instrument for everyday operational activities", says Max Krupyshev, CEO of CoinsPaid , "but for a long time, companies have lacked a service that would combine simplicity and convenience with a user-friendly interface and a safe and practical solution for accepting the cryptocurrency payments. The CoinsPaid ecosystem was the missing link. Now, more people will discover the real potential of cryptocurrencies, their convenience, cost-benefit, and efficiency." Cryptoprocessing.com is the optimal payment solution for all types of online businesses, including companies working in iGaming or the Forex industry. In these sectors, the ability to top-up user accounts instantly and in multiple currencies is of paramount importance. The company offers a flexible and transparent tariff system that depends on the client's turnover, in addition to fixed tariffs. The CoinsPaid ecosystem also provides many other tools and reports that help attain the maximum possible convenience when accepting and sending cryptocurrency payments. The company recently expanded its product line and launched a new service in the B2B sphere: a wallet that supports over 30 cryptocurrencies and a built-in exchanger that allows digital asset conversions into more than 20 fiat currencies. No fees are collected for cryptocurrency transfers between CoinsPaid crypto wallet user accounts. CoinsPaid's hot wallet system underwent a technical audit by Kaspersky Lab and the 10Guards team, both world leaders in cybersecurity. CoinsPaid has already had tremendous success. Its payment gateway is used for 3% of global Bitcoin transactions, and its processing service, Cryptoprocessing.com, holds the first place in cryptocurrency operations for the iGaming industry. Having entered 2020 with a customer base of just over 100 sales outlets, CoinsPaid has increased the number of partner companies to over 300. Its total number of its users now exceeds 3 million. The total volume of funds in CoinsPaids' processing service turnover has increased by almost fivefold compared to 2019. The crypto company is on track for a great year in 2021. Media Contact: Contact: Ekaterina Palianova Email: ekaterina.palianova@coinspaid.com Website: https://coinspaid.com SOURCE: CoinsPaids View source version on accesswire.com: https://www.accesswire.com/617109/Crypto-Processing-Made-Easy-by-CoinsPaid-A-Trailblazer-with-its-Instant-Payments-Both-in-Crypto-and-Fiat-Currencies || Market Wrap: Bitcoin Surpasses $15.3K; Ether Up 210% in 2020: Bitcoin is hitting fresh highs during a surge past $15,000 while investors may be overlooking the upside of ether in 2020.
• Bitcoin(BTC) trading around $15,087 as of 21:00 UTC (4 p.m. ET). Gaining 7.7% over the previous 24 hours.
• Bitcoin’s 24-hour range: $14,005-$15,306
• BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
The price of bitcoin jumped Thursday, going up to $15,306 around 15:50 UTC (10:50 a.m. ET), according to CoinDesk 20 data, taking it to its highest price point since Jan. 8, 2018, when bitcoin’s high was $15,360. It has dipped since, settling at $15,087 as of press time.
Read More:Bitcoin Breaks $15K as Investor Numbers Peak
Related:Market Wrap: Bitcoin Loses Steam at $15.9K; Over 600K ETH Yanked From DeFi
“Bitcoin is above the psychological threshold of $15,000 today on strongly positive momentum, having cleared resistance from 2019,” said Katie Stockton, a technical analyst for Fairlead Strategies.
Momentum, in the form of volume, was strong Thursday on leading USD/BTC spot exchanges. It was $1,233,248,261 as of press time, the highest since Oct. 21 when volume hit $1,273,812,127.
Stockton suspects momentum may subside, which may cause a price pullback. “There are some signs of short-term upside exhaustion from an overbought/oversold perspective supporting a few weeks of consolidation, but we would see this as healthy from a technical perspective.”
Analysts still see bitcoin as an asset to bet on in uncertain times over the long term.
Related:First Mover: Resistance Is Futile as Bitcoin Breaches $15K, Crypto Gets Greedy
“The U.S. is going to push the spending button again no matter who wins the White House,” noted Henrik Kugelberg. Next year “will probably see more individual support payments all over the world, and some of that money is inevitably gonna be placed in bitcoin.”
“The macroeconomic situation in the U.S. and elsewhere is far more uncertain, and concerns about COVID-19’s resurgence sending the economy back into a tailspin are not entirely unfounded,” noted Guy Hirsch, U.S. managing director at multi-asset brokerage eToro. “All in all, it feels like a perfect storm for retail [bitcoin] adoption that’s coming right at the beginning of an expected wave of institutional capital,” he added. While most markets are up Thursday along with crypto, the U.S. Dollar Index, a measure of the greenback versus a basket of other fiat currencies, is in the red 0.88% Thursday as of press time, down 1.6% since the start of November.
In the futures market, open interest for bitcoin contracts was back at $5.4 billion, with CME’s $804 million taking third place of all venues as institutional investors poured money in. The CME is a U.S.-regulated exchange for larger investors and brokerages, therefore its open interest growth is a signal large players are placing hedges and directional positions as part of some sort of bitcoin strategy.
“Interestingly, while aggregate futures open interest (OI) has risen back to $5.4 billion (late October highs), the increments were very steady and managed,” noted Denis Vinokourov, head of research at digital asset prime broker Bequant. “This suggests that the more regulated entities that operate in the current ecosystem are taking a more pragmatic approach to the current FOMO.“
The second-largest cryptocurrency by market capitalization,ether(ETH), was up Thursday, trading around $414 and climbing 3.4% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
Read More:Someone Just Paid a $9,000 Fee for a $120 DeFi Transaction
Bitcoin boosters like to talk about its 2020 price gains as a hedge against an uncertain global economy. However, ether has done even better than bitcoin so far this year, up 210% versus bitcoin’s 95% gains.
John Willock, chief executive officer of crypto liquidity provider Tritum, said investors like ether’s potential as both a hedge and a bet on the possible future of finance.
“Ether holds similar qualities to bitcoin as a general economic uncertainty hedge but also has the added value of utility with the network it powers,” Willock said. “With the long-anticipated forthcoming ETH 2.0 proof-of-stake upgrade, it will, from an investment perspective, become a yield-bearing instrument which has much broader appeal.”
Digital assets on theCoinDesk 20are all green Thursday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• stellar(XLM) + 8.8%
• 0x(ZRX) + 7.8%
• litecoin(LTC) + 7.6%
Read More:US Seized More Than $1B in Silk Road-Linked Bitcoins, Seeks Forfeiture
Equities:
• The Nikkei 225 ended the day climbing 1.7% asinvestors in Asia digested the possibility of a Biden presidency in the U.S. that is more lenient on Chinese trade issues.
• Europe’s FTSE 100 closed in the green 0.39% asthe U.K.’s central bank kept interest rates steady amid fresh lockdowns.
• In the United States the S&P 500 gained 2% astech stocks climbed and investors felt confident final presidential election results were imminent.
Commodities:
• Oil was down 1.5%. Price per barrel of West Texas Intermediate crude: $38.52.
• Gold was in the green 2.5% and at $1,950 as of press time.
Treasurys:
• U.S. Treasury bond yields were mixed Thursday. Yields, which move in the opposite direction as price, were up most on the two-year bond, climbing to 0.149 and in the green 1.3%.
• Market Wrap: Bitcoin Surpasses $15.3K; Ether Up 210% in 2020
• Market Wrap: Bitcoin Surpasses $15.3K; Ether Up 210% in 2020 || The Crypto Daily – Movers and Shakers – November 29th, 2020: Bitcoin , BTC to USD, rose by 3.35% on Saturday. Reversing a 0.24% decline from Friday, Bitcoin ended the day at $17,746.0. A mixed start to the day saw Bitcoin rise to an early morning high $17,220.0 before hitting reverse. Falling short of the first major resistance level at $17,634, Bitcoin fell to a late morning intraday low $16,925.0. Steering clear of the first major support level at $16,604, Bitcoin rallied to a late intraday high $17,910.0. Bitcoin broke through the first major resistance level at $17,634 to test resistance at $18,000 before easing back. The near-term bullish trend remained intact, in spite of the latest slide back to sub-$17,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $9,920 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Saturday. Polkadot fell by 1.68% to buck the trend on the day. It was a bullish day for the rest of the majors, however. Ripple’s XRP and Cardano’s ADA surged by 11.58% and by 16.43% respectively to lead the way. Bitcoin Cash SV (+3.43%), Chainlink (+4.81%), Crypto.com Coin (+5.68%), Ethereum (+3.67%), and Litecoin (+5.13%), also found strong support. Binance Coin (+2.53%) saw a relatively modest gain on the day. In the current week, the crypto total market cap rose to a Tuesday high $593.32bn before sliding to a Thursday low $467.23bn. At the time of writing, the total market cap stood at $522.72bn. Bitcoin’s dominance rose to a Monday high 64.75% before sliding to a Tuesday low of 60.80%. At the time of writing, Bitcoin’s dominance stood at 62.80%. This Morning At the time of writing, Bitcoin was down by 0.25% to $17,701.3. A mixed start to the day saw Bitcoin rise to an early morning high $17,775.0 before falling to a low $17,664.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a bearish start to the day. At the time of writing, Ripple’s XRP was down by 1.51% to lead the way down. Story continues For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the pivot level at $17,527 to bring the first major resistance level at $18,129 into play. Support from the broader market would be needed for Bitcoin to break through to $18,000 levels. Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of a crypto breakout, Bitcoin could test resistance at $18,500 before any pullback. The second major resistance level sits at $18,512. Failure to avoid a fall through the $17,527 pivot would bring the first major support level at $17,144 into play. Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$17,000 levels. The second major support level sits at $16,542. This article was originally posted on FX Empire More From FXEMPIRE: European Equities: A Week in Review – 27/11/20 Crude Oil Weekly Price Forecast – Crude Oil Markets Break Resistance COVID-19 Vaccine Update – Focus Shifts to Pre-orders and Distribution USD/CAD Daily Forecast – Test Of Support At 1.2985 Gold Weekly Price Forecast – Gold Markets Have Tough Week S&P 500 Price Forecast – Continue to Meander in Thin Holiday Trading || ALT 5 Pay Welcomes the Rimawi Art Gallery to Its Merchant Services, Enabling Bitcoin Payments for Art: NEW YORK, NY / ACCESSWIRE / December 17, 2020 /ALT 5 Sigma Inc., announced today that the exclusive Art Gallery Rimawi has joined its merchant services (www.Alt5pay.com) to begin accepting Bitcoin payments for the purchase of paintings, sculptures and other exclusive Art.
According to the company, Rimawi located in Rosemere, Quebec, has begun accepting payments in Bitcoin, Bitcoin Cash, Ethereum, and Ripple. Rimawi, founded in 1974 represents over 200 artists with over 2,000 art pieces from around the world and this new payment option is just another demonstration of their leadership in the art industry.
"There is a real and present demand for payment in cryptocurrencies and until now, there was no actual solution to remove the risk associated with these payments. We joined Alt 5 Pay so we can accept Bitcoin and receive the currency of our choice" said Ms. Malak Rimawi, "Alt 5 Pay's free merchant service is not only easy to use but its efficiency is truly remarkable," further added Ms. Rimawi.
Alt 5 Pay is a payment gateway which enables the payment in cryptocurrencies without exposing the merchant to price volatility and risk. The payment gateway offers merchants the possibility of creating invoices and or integrating the Alt 5 Pay directly to their checkout. The crypto payments are immediately converted to FIAT equivalent in either US dollars, Canadian Dollars and EUROs at the option of the merchant. As an example, an Alt 5 Pay invoice of $5,000 paid in Bitcoin will result in the conversion of the Bitcoins to $5,000, no fees to the merchant and directly deposited to their account.
"The cryptocurrency sector is not a fade, and its adoption and impact is seen globally," said Andre Beauchesne, President and CEO of Alt 5 Sigma Inc. "Rimawi Art Gallery, and its management see this new payment method as an important opportunity to attract new customers and expand sales" further added Mr. Beauchesne.
AboutRimawi Art GalleryLocated in Rosemere, Quebec, the Rimawi Art Gallery was established in 1974 and now represents over 200 artists with over 2,000 art pieces from around the world.
Alt 5 Sigma Inc.ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
www.alt5pro.comwww.alt5pay.comwww.alt5connect.com
Contact:Andre Beauchesne, President & CEOTel. 1-888-778-7091info@alt5sigma.com
SOURCE:ALT 5 Sigma, Inc.
View source version on accesswire.com:https://www.accesswire.com/621309/ALT-5-Pay-Welcomes-the-Rimawi-Art-Gallery-to-Its-Merchant-Services-Enabling-Bitcoin-Payments-for-Art || Coinbase files confidentially for IPO, aiming for major crypto industry milestone: Coinbase, the largest cryptocurrency exchange in the U.S., has filed its confidential S-1 form with the SEC to go public, the companysaid in a blog post on Thursday. The S-1 is “expected to become effective” after the SEC completes its review, the company said.
The timing of the filing is no accident.
Bitcoin (BTC)surged past the $20,000 markon Wednesday to a new all-time-high and has continued to climb, reaching close to $24,000. The largest cryptocurrency by market cap is up 220% in 2020, driven by a combination ofinstitutional investmentand public buy-in from consumer-facing payments companies likePayPalandSquare.
Coinbase caters to the retail side with its main exchange, and allows for more advanced trading (like limit orders) on its Coinbase Pro product. It currently supports more than 40 cryptocurrencies in the U.S.
The company launched in 2012, cofounded by Brian Armstrong and Fred Ehrsam, and was most recently valued at $8 billion. In July, the company said ithas 35 million users in 100 countries. It has been called the Goldman Sachs of cryptocurrency—in part because of itshigh trading fees. The company is profitable—ararityamongrecenttech unicornlistings—and has beenfor the past three years.
Coinbase has become the go-to household name site for retail investors looking to buy cryptocurrency for the first time—if they have heard of any exchange at all. There are other exchanges in the U.S. (Gemini, Kraken), and globally (Binance, Huobi, OkCoin), but arguably none has the brand recognition that Coinbase has built.
The Coinbase IPO would mark the first U.S. cryptocurrency company to go public, a major milestone for the maturity of the industry, and could be one of the hottest tech IPOs of 2021.
The company has also been at the center of multiple controversies in 2020.
In September, CEO Brian Armstrongissued a public memo declaring that he wants Coinbase to be an apolitical companywhere employees don’t discuss politics or social issues. The memo was reportedly a follow-up to an internal conflict that arose after Armstrong was unprepared, at an internal town hall, to answer a question about his stance on the Black Lives Matter movement. His memo was criticized by many inside and outside of tech, though found some supporters among venture capitalists.
Last month, following the fallout of the Coinbase Memo, theNew York Times reportedon a handful of Black former employees who allege discriminatory treatment by the company. Coinbase put out a memo before the Times story was published in an attempt to get ahead of the story.
It’s unclear whether these issues have hurt the company at all.
“Coinbase was the first mover, and they've got such a moat, and they really have branded themselves as the mainstream place to go,” Jeff Roberts, author of a new book about Coinbase, “Kings of Crypto,”said on Yahoo Finance Live this week. “I know a lot of the crypto purists have objections with them, but as you said, the reality is, if anyone's going to buy crypto, the only company they've heard of is Coinbase. And that's been a huge benefit to them. For the more ideological people, they have other options. But for the average person who wants to buy a little bit of bitcoin, almost invariably, Coinbase is where they're going.”
—
Daniel Roberts is an editor-at-large at Yahoo Finance and closely covers bitcoin and blockchain. Follow him on Twitter at @readDanwrite.
Read more:
Daniel Roberts is an editor-at-large at Yahoo Finance and closely covers bitcoin and blockchain. Follow him on Twitter at @readDanwrite.
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Lloyd Blankfein: It would be ‘arrogant’ to dismiss bitcoin entirely || PayPal says all users in US can now buy, hold and sell cryptocurrencies: PayPalannounced today it's dropping the waitlist to buy, hold and sell cryptocurrency in the U.S. With the move, all customers in the U.S. will be able to purchase cryptocurrency directly from within their PayPal accounts. U.S. customers will also be alerted to the new feature through both an email and a push notification in the coming days, the company says.
The feature was already partially available in the U.S. before today, but PayPal had been onboarding interested customers via a waitlist. With the update, users will no longer have to wait for a spot to open.
In addition, PayPal says that due to initial demand from its customers, it's increasing its weekly cryptocurrency purchase limit from $10,000 per week to $20,000 per week.
In October,PayPal had first announcedits plans to enter the cryptocurrency market by way of a partnership with cryptocurrency companyPaxos.This partner helps to power the new service for PayPal, enabling its customers to buy, sell and hold a range of cryptocurrencies -- initially including Bitcoin, Ethereum,BitcoinCash and Litecoin.
By next year, PayPal plans to allow users to make PayPal purchases with cryptocurrencies as well, the company has said.
In terms ofexchange rates, PayPal will charge $0.50 USD on transactions up to $24.99 USD, 2.3% on transactions from $25 to $100 USD; 2% on transactions from $100.01 to $200 USD; $1.8% on transactions of $200.01 to $1,000 USD; and 1.5% on transactions over $1,000 USD.
PayPal notes there are no fees for holding crypto in your account. And, to get things started, PayPal is waiving fees until 2021.
The company somewhat quietly disclosed the news today via an update to lastmonth's press release. It says users can download the PayPal app or log in to their PayPal account to learn more.
Crypto wallet app ZenGo to launch debit card || Real Time Cryptocurrency Price Alerts with Moneymaker from Yarovoy Group: Cryptocurrency investors can save time and make more informed decisions with up-to-date info delivered right to their inbox SAN FRANCISCO, CA / ACCESSWIRE / November 17, 2020 / Staying up to date with cryptocurrency markets is a time-consuming task, which is why Yarovoy Group launched Moneymaker , a data-driven tool that provides cryptocurrency price alerts, trading trends, and market moves all in real time. Yarovoy Group's Moneymaker is backed by mathematical formulas and popular trading indicators to catch trends earlier and faster than exchanges and other cryptocurrency advisers. The result is a cryptocurrency surveillance tool that saves investors time and provides valuable insights that they won't get anywhere else. Additional features include cryptocurrency email alerts based on in-house algorithms that are designed to catch calculated price and volume changes at a rapid pace, with API calls refreshed on 30 second intervals for the ultimate BTC price alert utility. This feature can also be used to provide alerts regarding other popular cryptocurrencies. Moneymaker subscribers receive cryptocurrency alerts directly to their personal email inboxes, with updates provided on all of the major cryptocurrencies as well as moving markets. In addition to allowing investors to take their trades to the next level, these alerts also save hours per day on research, with easy-to-access information for more informed trades. Yarovoy Group remains committed to ensuring that cryptocurrency investors have a full range of the most updated data metrics available on the cryptocurrency industry. Moneymaker is designed to do just that, offering some of the most advanced analytics at a rapid pace and in real time. Learn more about Yarovoy Group's cryptocurrency services , including the firm's expertise in building cryptocurrency exchange and trading platforms. With qualified experience in cryptocurrency markets and an unbeatable approach to data management, Yarovoy Group helps ensure investors have all of the tools they need at their disposal. Story continues About Yarovoy Group Yarovoy Group (YG) is an IT company offering big advancements for global decision makers. YG products include information-based Salesforce, cryptocurrency, and development applications, with a competitive pricing structure that makes more tools available to businesses of all sizes. Integral to Yarovoy Group's services is a team of IT experts with real-world experience in the industries they are serving. They provide out of the box solutions that address unique challenges in today's leading platforms, with CRM integration for a truly seamless transition. For more information, please visit www.yarovoygroup.com . Contact: Yarovoy Group, Inc. (415) 816-8004 info@yarovoygroup.com SOURCE: Yarovoy Group View source version on accesswire.com: https://www.accesswire.com/616354/Real-Time-Cryptocurrency-Price-Alerts-with-Moneymaker-from-Yarovoy-Group || Roger Ver: Bitcoin Cash Hard Forks Could Have Thwarted PayPal Support: There are still a lot of uncertainties around the scheduled Bitcoin Cash fork event on Nov. 15, but one thing is for sure: The cryptocurrency’s biggest advocate, Roger Ver, executive chairman of Bitcoin.com, is not a fan of the scheduled upgrades on the network, which take place every six months. “If PayPal knew that this sort of contentious hard fork was likely to happen, maybe they wouldn’t have added bitcoin cash at all to their roadmap,” Ver told CoinDesk in an interview, referring to PayPal’s recent announcement to add cryptocurrencies – bitcoin cash included – to its system. “So it is really a big problem to have these contentious hard forks. I’d like to see that come to an end.” As of press time, PayPal hasn’t responded to CoinDesk’s request for comment on the upcoming fork event. Paxos, the company that provides crypto service for PayPal, rejected CoinDesk’s request to comment on the topic. Related: Bitcoin Cash Has Split Into Two New Blockchains, Again A Bitcoin fork known for forks Unlike a “soft fork” that allows non-upgraded and upgraded nodes to still transact with each other, a hard fork is a software upgrade that implements a new rule to the blockchain that is not compatible with the older software. Thus, developers tend to be extremely conservative about introducing hard forks and usually try to ensure there will be community consensus around these sorts of changes to the code. However, some hard forks have been contentious. In these instances, if some nodes on a network adopt a hard fork and others don’t, then the blockchain will split into two different versions: one with the old software and one with the new software. Bitcoin Cash itself is a result of a hard fork from Bitcoin, after a group from the Bitcoin community, advocating the literal interpretation of Satoshi Nakamoto’s Bitcoin white paper, insisted on increasing block sizes. They pushed for a hard fork of the original Bitcoin blockchain, as they view low-cost, peer-to-peer transactions as the blockchain’s core value. Read more: OKEx, Still Paralyzed by Founder’s Arrest, Details Plans for Bitcoin Cash Hard Fork Related: Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $2 Billion Today, as the most well-known fork of Bitcoin, the Bitcoin Cash network undergoes an upgrade every six months, and a chain split can occur when the community is unable to meet consensus requirements. An example is when Bitcoin Satoshi Vision (BSV) forked away from Bitcoin Cash on Nov. 15, 2018. Story continues The Bitcoin Cash hard fork expected this coming Nov. 15 is the result of a blockchain update proposal from a group known as Bitcoin Cash ABC (BCH ABC), led by developer Amaury Sechet. The update has included a controversial new “Coinbase Rule,” which requires 8% of mined bitcoin cash to be redistributed to Bitcoin ABC as a means of financing protocol development. Developers with ‘too much money’ This funding approach has triggered a debate within the BCH community regarding the governance and the development of the software that runs the Bitcoin Cash blockchain. The group led by developers from BCH ABC holds there should be an organized and consistent effort in order for bitcoin cash to become a universal digital payment. Therefore, developers should be funded by the Bitcoin Cash network, according to Chris Troutner, a developer who formerly worked at Ver’s bitcoin.com and is close to Sechet’s BCH ABC group. However, an opposing group against this funding mechanism, Ver included, said that because the software is an open-source protocol, developers should help improve the protocol on a voluntary basis and look for financial resources elsewhere. Ver went a step further by saying the Bitcoin Cash network’s problem is developers have “too much money.” “I think the way [Bitcoin] went off the rails from Bitcoin Cash is developers had too much money and then they started developing and tinkering with too many different things, which caused a problem in the network.” Troutner, who told CoinDesk that he will support both chains after the fork, said the real issue behind the dispute is a collective hatred toward Sechet. Sechet’s BCH ABC has been leading the scheduled Bitcoin Cash updates for the past few years, Troutner said. And Sechet’s team has always wanted to implement this funding mechanism. “[BCH ABC’s opponents] want Amaury Sechet to leave the ecosystem,” he said. Read more: Ethereum’s ‘Unannounced Hard Fork’ Was Trying to Prevent the Very Disruption It Caused Ver said he didn’t think the fork will take place as planned, saying only about 0.2% of the blocks mined on Bitcoin Cash have signaled support for Bitcoin ABC. As of press time, of the last 1,000 blocks mined on Bitcoin Cash, about 80% have signaled support for the Bitcoin Cash Node (BCHN) and only 0.3% for Bitcoin ABC, according to data from Coin Dance. What the data may indicate is that a fork will take place because the software upgrade by BCH ABC is not supported by the majority of the miners, as more blocks are signaling support to BCHN. That will force BCH ABC to fork away from the old chain, said Aidan Mott, analyst at Messari. On the other hand, Troutner posits that the data may have hindered the actual support of BCH ABC. “If you think about it in terms of a game theory, some miners are probably legitimately signaling for BCH but other miners who are planning to mine on ABC probably are also signaling for BCHN because they want their competitors to mine on that chain,” Troutner explained. “That makes it easier for them to mine blocks on the ABC chain.” Exchanges and ‘fork fatigue’ Ver’s early argument is service providers like PayPal can be frustrated by a cryptocurrency blockchain that’s constantly going through forking events. This sort of frustration is already happening at crypto exchanges. Even though it is unclear which chain will become the dominant chain after the fork, a few major crypto exchanges have already announced their support for BCHN, which will inherit the Bitcoin Cash name, assuming the BCH ABC would get the minority of nodes. In a Nov. 6 post by Kraken, the exchange said it will support BCHN, “regardless of the outcome of the fork.” “Bitcoin Cash Node tokens will be called ‘Bitcoin Cash’ on our platform and represented by the ticker symbol ‘BCH,’” Kraken said in the post . “We will support Bitcoin Cash ABC ONLY IF the hash power on the ABC network is at least 10% of the hash power on the Bitcoin Cash Node network.” “Exchanges have to put themselves in a position where they can know what their customers want, which means they understand the kind of the consensus of the miners but also they understand the positions of the development teams,” said Mott. “In this sense, it would be a pretty easy decision to just keep their support and only run Bitcoin Cash Node network software.” Since prices of the two newly split cryptocurrencies will be decided by market supply and demand, exchanges play a significant role because they are the ones that allocate the new tokens to their customers. Another important implication from Kraken’s post is that exchanges also get to decide which new chain will take the Bitcoin Cash name. Read more: Roger Ver’s Mining Pool Pulls Support for Bitcoin Cash Dev Fund Over Chain Split Threat Ver claimed the reason Bitcoin Cash is less popular than Bitcoin is because the latter took the “Bitcoin” name after the hard fork. Ever since then, marketing has been one of the biggest obstacles for the mass adoption of Bitcoin Cash, according to Ver. The market capitalization of bitcoin cash is approximately $4.88 billion at the time of writing, yet bitcoin has a market capitalization of $283.28 billion, according to data on CoinDesk 20 . “When the split happened, the Bitcoin Cash version had all the characteristics that made Bitcoin popular to begin with, but the other version that didn’t have those characteristics got the Bitcoin name and the infrastructure to go with it,” Ver said. “Bitcoin Cash has been rebuilding all of that infrastructure and its brand recognition basically from scratch.” If that’s the case, BCHN will find itself ahead of BCH ABC, as evidenced by exchanges’ support, if it takes the name of Bitcoin Cash. Related Stories Roger Ver: Bitcoin Cash Hard Forks Could Have Thwarted PayPal Support Roger Ver: Bitcoin Cash Hard Forks Could Have Thwarted PayPal Support View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 23241.35, 23735.95, 24664.79, 26437.04, 26272.29, 27084.81, 27362.44, 28840.95, 29001.72, 29374.15
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-03-04]
BTC Price: 48561.17, BTC RSI: 53.08
Gold Price: 1700.20, Gold RSI: 28.25
Oil Price: 63.83, Oil RSI: 68.54
[Random Sample of News (last 60 days)]
JPMorgan Sees Bitcoin Crossing $40K Again In Coming Weeks, If This Key Condition Is Met: JPMorgan analysts see Bitcoin (BTC) continuing on its rally above the $40,000 mark, if the Grayscale Bitcoin Trust (OTC: GBTC ) continues to sustain inflow above the $100 million mark every day in the coming weeks. What Happened: If the institutional investors fail to take Bitcoin past the breakout mark, the subdued cryptocurrency rally could face a further setback, JPMorgan analysts are suggesting, as reported by Bloomberg. The investors who tend to follow market trends “could propagate the past week’s correction” and “momentum signals will naturally decay from here up till the end of March” if Bitcoin does not cross the $40,000 mark in the coming weeks, the analysts reportedly said. Why It Matters: Bitcoin hit an all-time high of $41,962.36 earlier this month in a rally that left even some ardent supporters dizzy. The cryptocurrency retreated to near $30,000 levels, only to see another surge past the $40,000 mark last week, albeit briefly. At press time, Bitcoin (BTC) is trading 2% higher at $36,763.93. Grayscale Bitcoin Trust closed 9.6% lower at $39.34 on Friday. Read Next: Bitcoin Rally Pause Gives DeFi, Smart Contract Cryptos The Time To Shine Latest Ratings for GBTC Feb 2018 Buckingham Initiates Coverage On Sell Jul 2015 Wedbush Initiates Coverage on Outperform View More Analyst Ratings for GBTC View the Latest Analyst Ratings See more from Benzinga Click here for options trades from Benzinga Bitcoin Rally Pause Gives DeFi, Smart Contract Cryptos The Time To Shine Crypto Market Update: Bitcoin Flirts With ,000 Level Again, XRP Sits Out Rally © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Crypto Exchange Asks Customers To Return Bitcoin After Selling It At 88% Discount: What Happened: The largest crypto exchange in Southeast Asia, Philippines-based PDAX, experienced a technical failure that led to Bitcoin trading at $6,000 – an 88% discount to its current price. Following the incident, PDAX asked its customers to return their Bitcoins, threatening legal action, a local news outlet Bitpinas has reported. According to the exchange’s CEO, the system error was not due to a hack but a technical “glitch” caused by a massive surge in trading activity. Why It Matters: The initial outage is said to have taken place on February 18; however, since then, reports have surfaced on social media of customers being locked out of their exchange accounts and being asked to “return their Bitcoin.” “After almost 24 hours, they sent me a demand letter and SMS, requesting me to transfer back the BTC, or they “may” be compelled to take legal actions against me.” said one trader who believed his purchase was well within his rights without violating any laws or regulations of the trading platform. See also: How to Buy Bitcoin (BTC) Rafael Padilla, an attorney representing the affected users who are currently locked out of their accounts, commented on the issue on Facebook. “Our client’s trade transaction was legitimate under applicable laws, decided cases, and of course according to PDAX’s very own terms and conditions/user agreement .” According to Padilla, PDAX has opted to lock users out of their accounts because it cannot unilaterally reverse the transactions. An official statement from PDAX claims that 95% of accounts have been restored, but according to the report, many users are still locked out of their accounts. “It’s very understandable that a lot of users will feel upset they were able to buy what they thought an order was there for Bitcoin at very low prices. But unfortunately, the underlying Bitcoins were never in the possession of the exchange, so there’s never really anything there to be bought or sold, unfortunately.”, said PDAX CEO Nichel Gaba in a press conference earlier today. Story continues Image: vjkombajn via Pixabay See more from Benzinga Click here for options trades from Benzinga Elon Musk's Tweet About Dogecoin Sends Price Up 10% In 30 Minutes Again MicroStrategy Buys Additional .026B Worth Of Bitcoin, Surpasses Tesla's Bitcoin Holdings © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || US-Listed Chinese Lottery Firm Plans $14.4M Move Into Bitcoin Mining: Chinese sports lottery firm 500.com (NYSE: WBAI) announced Monday that it has entered into a purchase agreement to acquire bitcoin mining machines.
• 500.comsaidit expects to issue $14.4 million worth of its Class A ordinary shares as consideration to acquire thebitcoinmining machines from an unnamed seller from outside the U.S.
• The company will issue around 11.8 million shares valued at $1.21 per share, with the transaction expected to be completed in the first quarter of this year.
• If the deal goes ahead the acquisition would see 500.com acquire S17, T17 and S9 mining devices from Bitmain and M20s from MicroBT.
• Total hash power capacity of the machines is estimated to be approximately 918.5 petahertz per second.
• The timeline for the installation of the bitcoin mining machines would be within four weeks of acquisition, with revenue from bitcoin mining expected to start rolling in during the first half of 2021.
• Shares of the company traded up 11% on the news.
Read more:Bitcoin Mining Difficulty Hits Record High Amid Miner Revenue Surge
• US-Listed Chinese Lottery Firm Plans $14.4M Move Into Bitcoin Mining
• US-Listed Chinese Lottery Firm Plans $14.4M Move Into Bitcoin Mining
• US-Listed Chinese Lottery Firm Plans $14.4M Move Into Bitcoin Mining
• US-Listed Chinese Lottery Firm Plans $14.4M Move Into Bitcoin Mining || Uphold to Launch Crypto Card in Europe After Optimus Acquisition: Digital finance platform Uphold says it has acquired card-issuer Optimus Cards UK, opening the door for the firm to roll out its own “crypto-enabled” debit card in Europe. Uphold announced the news Tuesday, saying its new acquisition comes with a full Electronic Money Institution (EMI) license from the U.K.’s Financial Conduct Authority (FCA). The firm plans to start rolling out its multi-asset debit card on the Optimus platform in Europe “shortly.” Related: PayPal 2020 Results: ‘Outstanding Finish to a Record Year’ CEO JP Thieriot said Uphold had to pass the FCA’s rigorous “Change In Control” process for approval of firms seeking to acquire or increase control of another company. “We’re very excited to get to work and help scale Optimus’s thriving EMD agency business, which already supports several major crypto and fintech ecosystems,” he said. Read more: Uphold Teams With TaxBit to More Accurately Report Users’ Crypto Trades European Uphold customers will soon be able to receive part or all of their salary in bitcoin or other asset “and spend it using Uphold Cards issued through Optimus,” Thieriot added. Related: Market Wrap: Bitcoin Cracks $37.2K as Ether Breaks Through to Record-High $1.6K Uphold was founded by CNET founder Halsey Minor as Bitreserve in 2014. He left the firm in 2018, according to his LinkedIn profile . Related Stories Uphold to Launch Crypto Card in Europe After Optimus Acquisition Uphold to Launch Crypto Card in Europe After Optimus Acquisition || CryptoSX Digital Asset Exchange Announced Today that its Trading Platform will Support Ravencoin Assets to Further Strengthen its Position as the Leading Security Token Platform in Asia: CAGAYAN, PHILIPPINES / ACCESSWIRE / January 15, 2021 / Tinaga Island Resort STO will be the first implementation of Ravencoin protocol in a security token offering involving ownership of prime beach front real estate in the Philippine island of Tinaga and income from the sale of villas, hotel operations and appreciating asset value. TIRC is the unique token name and is expected to be listed on Cryptosx during Q1 2021. Tinaga Team leader, Daniel Mckinney said: "We chose Cryptosx as our 1 st trading exchange for our token because we believe Cryptosx is becoming the OTC trading center for world-wide tokens. This is the beginning of the beginning! Cryptosx has been working for several months with Tron Black, Ravencoin Lead Developer and with AlphaPoint, an exchange software provider, on the integration of Ravencoin protocol to ensure our suite of token life cycle management tools work seamlessly and efficiently on each transaction in accordance with our compliance requirements. "I'm excited to see the open-source decentralized Ravencoin tokenization platform used to securely record ownership. With AlphaPoint becoming Ravencoin asset aware and support from Cryptosx, this opens up opportunities for more projects to tokenize on Ravencoin", claimed Tron Black, President of Ravencoin Foundation. "We are a highly focused trading platform for security tokens and understand that we need to continuously improve functionalities and cost/benefits attributes for our clients and investors. Ravencoin came onto our radar in early 2020 as we began to examine alternative tokenization protocols' said Founder of Cryptosx, Philip Tam. Ravencoin was created in 2017 as a fork of the open-source Bitcoin code as a way to hold assets digitally and transfer them easily between parties. That was the specific use case Ravencoin was designed for and is a truly open source project (no ICO or master nodes). Two very important characteristics or features of Ravencoin assets are (1) the ability to acquire a Unique Name to prevent fraud and spoofing and (2) the cost to transfer is much cheaper than ERC-20 or extended ERC-20 smart contracts. So many blockchain projects try to pretend they can solve every problem, or try to offer a use-case for every scenario. Ravencoin is different because it's focused on doing one thing right - tokenized asset transfers. Story continues "Tinaga is the first Ravencoin based STO and we are all very excited to be part of this journey. We do expect to see more adoption in 2021 following the completion of the Ravencoin code audit and interested projects in our pipeline," concluded Philip Tam. About Ravencoin Ravencoin (RVN) is a decentralized peer-to-peer network designed to efficiently handle the transfer of assets from one party to another. Built on a fork of the Bitcoin code, the proof-of-work Ravencoin platform was launched January 3rd, 2018 and is a truly open source project (no ICO, no pre-mine, no masternodes). It focuses on building a useful technology, with a strong and growing community. https://medium.com/@ravencoin/ravencoin-4683cd00f83c . About Tinaga Resorts Corp. Tinaga Resorts Corp "TRC" is a Philippine corporation implementing the latest environmental technology, combining green development with responsible eco-tourism and is exercising responsible stewardship over its natural environment. Tinaga island is a showcase of pristine clear blue water and unspoiled virgin white sand beaches. In recognition of a 100% green sustainable development, TRC strives to maintain a delicate balance between achieving tourism development goals and conserving the islands fragile environment. www.tinagaislandresort.com For more information on Tinaga Resort, please visit: https://www.tinagaislandresort.com About AlphaPoint AlphaPoint is a financial technology company powering digital asset exchanges and brokerages worldwide. Through its secure, scalable, and customizable digital asset trading platform, AlphaPoint has enabled over 150 customers in 35 countries to launch and operate digital asset markets, as well as digitize assets. AlphaPoint and its award winning blockchain technology have helped start-ups and institutions discover and execute their blockchain strategies since 2013. Alpha Point: www.alphapoint.com . About CryptoSX With the empowerment of world-leading technologies, CryptoSX is building a cutting edge crypto exchange platform for STOs backed by Fiat/Crypto conversion capabilities. They are significantly involved in assisting companies in STO primary listings, STO secondary trading and to develop and launch a substantial decentralized finance "DeFi" business, including crypto lending. CryptoSX is compliant with all of the applicable financial and virtual exchange policies and regulations of the Philippine government under CEZA (Cagayan Economic Zone Authority). For more information on CryptoSX please visit: www.cryptosx.io . CONTACT: Philip Tam Email: philip@cryptosx.io SOURCE: CryptoSX View source version on accesswire.com: https://www.accesswire.com/624421/CryptoSX-Digital-Asset-Exchange-Announced-Today-that-its-Trading-Platform-will-Support-Ravencoin-Assets-to-Further-Strengthen-its-Position-as-the-Leading-Security-Token-Platform-in-Asia || Market Wrap: Bitcoin Hits $34.8K While Ether Volatility Skyrockets: Some bitcoin investors appear to be buying in around $30,000 and taking profits at $40,000, according to one analyst. Meanwhile, ether’s spot market is decoupling from bitcoin and gyrating wildly, according to volatility metrics.
• Bitcoin(BTC) trading around $32,963 as of 21:15 UTC (4:15 p.m. ET). Gaining 3.5% over the previous 24 hours.
• Bitcoin’s 24-hour range: $31,650-$34,893 (CoinDesk 20)
• BTC above the 10-hour and the 50-hour moving averages on the hourly chart, a bullish signal for market technicians.
The price of bitcoin made gains opening the week, rallying from as low as $31,640 at around 21:00 UTC (4 p.m. ET) Sunday to as high as $34,893 at around 14:00 UTC (9 a.m. ET) Monday. The price has slipped a bit since then, with the world’s oldest cryptocurrency changing hands around $32,963 as of press time.
“A clean break above $34,500 and more sustainably above $36,000 is needed,” David Lifchitz, chief investment officer of quant trading firm ExoAlpha, told CoinDesk. “We could also be in for a classic ‘W’ bottom when the first bounce off the lows is met by another batch of selling before it eventually bounces back for real.”
Related:First Mover: The Smart Money (Literally) Buying Crypto as Harvard Said to Be Holding
So far this year, bitcoin is up over 13% on spot exchanges such as Luxembourg-based Bitstamp.
“Everyone is seeing good buying at the low end of the $30,000s, so clearly the institutions are comfortable entering there,” noted Chris Thomas, head of digital asset for Swissquote Bank. “We’ve previously seen strong selling around $40,000 so these will be the big tests over the next week or two.”
Read More:Crypto Miner Marathon Patent Group Buys $150M in Bitcoin
“I’d imagine there are a few big names we don’t yet know of currently buying up bitcoin,” Thomas added. “We’ll likely discover them very soon, by which point they will have accumulated quite substantial volumes.”
Related:What Is Guggenheim Partners?
On the perpetual swaps market, where liquidity providers put up crypto for traders to leverage, funding rates are trending back up, particularly on OKEx, which is offering 0.0865%, its highest since Jan. 20. This is a signal leveraged traders are willing to start paying up to position themselves long.
In the options market, a bullish bitcoin mentality appears to be forming. Open interest (OI) by strikes is highest at the $52,000 price point as of Sunday, with 21.4 BTC in OI. Second place is much more bearish, however, with 17.7 BTC piled up at the $20,000 spot level.
“I think both bitcoin and ether will continue to see higher highs,” said Michael Gord, chief executive officer trading firm Global Digital Assets. “But as we saw in the previous bull run when bitcoin cools off, the spotlight moves to ether and when BTC & ETH are cooled down, we start to see altcoins shine,” Gord added. “That’s what I expect to see the next couple weeks.”
Something to watch: Ether’s decoupling from bitcoin. Over the past year, the correlation between bitcoin and ether has slipped.
On Jan. 24, 2020, the 90-day correlation was at 0.86. A 90-day correlation of 1 means highly correlated. On Sunday, Jan. 24, 2021, that figure was at 0.66.
The second-largest cryptocurrency by market capitalization,ether(ETH), was flat Monday, trading around $1,342 and in the red 0.08% in 24 hours as of 21:15 UTC (4:15 p.m. ET).
Read More:Big Investors Stacked Up Ether as Price Rose to Record High
Ether’s 30-day volatility, a measure of the asset’s gyrations on the spot market, has risen dramatically since the start of the year. On Jan. 1, 2021, volatility was at 66.87%. On Sunday, Jan. 24, that number hit 152.67%, the highest since April 2020’s coronavirus-induced market crash. It’s also much higher than bitcoin’s 106.33% volatility as of Jan. 24.
Greg Magadini, chief executive officer of data aggregator Genesis Volatility, said that while the increased price fluctuations might be an opportunity for some traders, he’s cautious about any bearish downside.
“We noted in our newsletter that ETH volatility is historically very high but we are cautious to short it, compared to BTC,” Magadini told CoinDesk. “ETH has room to run. A spike to over $2,000 in quick fashion is definitely in the cards for ETH.”
Digital assets on theCoinDesk 20are mixed Monday. Notable winners as of 21:15 UTC (4:15 p.m. ET):
• bitcoin cash(BCH) + 1.8%
• orchid(OXT) + 1.7%
• algorand(ALGO) + 1%
Notable losers:
• chainlink(LINK) – 6.3%
• tezos(XTZ) – 3.7%
• cosmos(ATOM) – 3.6%
Equities:
• Asia’s Nikkei 225 index closed in the green 0.67% asthe technology and pharmaceutical sectors saw a boost on optimism over further U.S. government stimulus spending.
• In Europe the FTSE 100 ended the day slipping 0.84% asinvestors signaled concern over the continuing coronavirus pandemic.
• In the United States, the S&P 500 closed in the green 0.36%on a volatile trading day ahead of corporate earnings season.
Read More:Why Did Bill Miller and His Son Buy MicroStrategy Debt? It’s the Bitcoin
Commodities:
• Oil was up 1.3%. Price per barrel of West Texas Intermediate crude: $52.72.
• Gold was flat, in the green 0.01% and at $1,854 as of press time.
Treasurys:
• The 10-year U.S. Treasury bond yield fell Monday to 1.030 and in the red 6.3%.
• Market Wrap: Bitcoin Hits $34.8K While Ether Volatility Skyrockets
• Market Wrap: Bitcoin Hits $34.8K While Ether Volatility Skyrockets || NetCents Technology Announces 143% Quarterly Revenue Growth: Vancouver, British Columbia--(Newsfile Corp. - February 17, 2021) -NetCents Technology Inc.(CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company") , a cryptocurrency payments company, is pleased to report growth in transaction figures for the recent periods. The Company recorded $8.2 million in transactions for the month of January of 2021.
In addition, the Company would like to report approximately 143% quarter on quarter revenue growth and 476% year over year Q1 revenue growth, based on the Company's unaudited three months ended January 31, 2021 financial statements, which financial statements will be available on SEDAR (www.sedar.com) and on the Company's website in accordance with applicable continuous disclosure requirements by late April 2021.
In the three months ended October 31, 2020, the Company recorded $105,475 in revenues. During the most recent quarter, the period ended January 31, 2021, the Company recorded revenues of $257,008. Of note, the Company increased monthly revenue by 659% year over year from $15,632 in January 2020 to $118,684 in January 2021. Management attributes the rapid growth in revenue to the expiration "low fee" and "no-fee" promotions that the Company uses to incentivise merchant onboarding onto the platform in addition to sales and marketing efforts that have continued to result in additional merchants joining the platform.
"The continued growth of our transaction figures is great to see, especially for January which is a slow month for transactions historically," stated Clayton Moore, Founder and CEO of NetCents Technology." We are seeing a lot of demand growth from the merchant side as Bitcoin has really become top of mind in the last 90 days as it has hit historical highs. Historically, merchants seem to get more excited about cryptocurrency transactions in a rising market. It is great from a PR perspective to be seen as 'with the times."
"We believe that this trend will only accelerate as Companies will be jumping on the bandwagon to want to be seen offering something cool or trendy. For example, Tesla announced that they will now accept Bitcoin as a form of payment for their cars. This rapid growth is really putting our team to the test as we have never had to onboard as many merchants in a short period of time, luckily our robust systems can handle the growth and our user interface is quite intuitive," Mr. Moore concluded.
More importantly - the big development in the market is that cryptocurrencies have now surpassed 1 trillion in USD value. This represents a significant milestone for cryptocurrencies as an asset class. Management expects this trend to continue as the financial markets and functionality of cryptocurrency develops and continues to become a mainstream transaction medium.
Management looks forward to providing more updates on business developments in the coming weeks, and wants to remind investors and Cryptocurrency users that there continues to be high volatility in the value of even the most established currencies like Bitcoin and there is a potential loss of value when holding these currencies as part of one's financial assets.
About NetCents
NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.
For more information, please visit the corporate website atwww.net-cents.comor contact Investor Relations:investor@net-cents.com.
On Behalf of the Board of DirectorsNetCents Technology Inc.
"Clayton Moore"Clayton Moore, CEO, Founder and DirectorNetCents Technology Inc.1000 - 1021 West Hastings StreetVancouver, BC, V6E 0C3
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/74705 || Here are Warren Buffett's 15 largest stock holdings: Warren Buffett’s famed stock portfolio has grown to a market value of $281.17 billion at the end of 2020, with a cumulative actual price for the entire portfolio of $108.62 billion. Last year, Berkshire earned $4.9 billion in realized capital gains and $26.7 billion in net unrealized gains from its stock holdings. In Buffett’s annual letter to Berkshire Hathaway ( BRK-A , BRK-B ) shareholders, the renowned stock picker shared the 15 common stocks that had the largest market value at the end of 2020. Berkshire owns large stakes in companies like AbbVie ( ABBV ), American Express ( AXP ), Apple ( AAPL ), Bank of America ( BAC ), Bank of New York Mellon ( BK ), BYD Co., Charter Communications ( CHTR ), Coca-Cola ( KO ), Chevron ( CVX ), General Motors ( GM ), Itochu, Merck ( MRK ), Moody's Corp ( MCO ), U.S. Bancorp ( USB ), and Verizon ( VZ ). (Yahoo Finance is owned by Verizon.) Berkshire Hathaway's 15 largest stock positions. Buffett excluded Kraft-Heinz ( KHC ) from the list of top 15 holdings because it's held using a different accounting method. Berkshire owns 325,442,152 sharers, or 26.6% of the outstanding stock, in the cheese and ketchup manufacturer. He noted that the GAAP figure for Kraft-Heinz was $13.3 billion on Dec. 31, while the market value on the date was $11.3 billion. Some of the investments have been huge home runs. For example, Berkshire’s cost to purchase 151.61 million shares of American Express was $1.28 billion, and that investment was worth $18.33 billion at year-end. Berkshire’s $31 billion investment in 907.56 million Apple shares was worth $120.4 billion at the end of 2020, while its $232 million investment in 225 million shares of Chinese electric bus-maker BYD was worth $5.89 billion. Berkshire Hathaway is a sprawling conglomerate with a massive portfolio of stocks and ownership of businesses across sectors and industries such as insurance, manufacturing, services, retailing, and energy. Some of the companies Berkshire owns include Benjamin Moore, Brooks, Clayton Homes, Duracell, GEICO, Dairy Queen, Nebraska Furniture Mart, and See’s Candies, to mention a few. Story continues Berkshire Hathaway's Chairman Warren Buffett throws out the ceremonial first pitch before the Kansas City Royals play host to the Houston Astros at Kauffman Stadium in Kansas City Missouri, on Thursday, June 17, 2010. (Photo by John Sleezer/Kansas City Star/Tribune News Service via Getty Images) (Kansas City Star via Getty Images) Last year, Berkshire earned $42.5 billion on a GAAP basis, consisting of $21.9 billion in operating earnings, $4.9 billion in realized capital gains, $26.7 billion in net unrealized gains in stocks held, and $11 billion loss from a write-down in some of the subsidiary businesses, mostly from a "mistake" Buffett made in 2016 when he “paid too much” for Precision Castparts, an aerospace metal components and products manufacturer. Buffett emphasized that the operating earnings “are what count most,” even when they’re not the largest contributor to the net results. Because of an accounting rule change a few years ago, swings in the value of Berkshire stock portfolio have made GAAP net earnings much more volatile. Regarding the realized and unrealized capital gains or losses from the stock investments, Buffett pointed out those components “fluctuate capriciously from year to year, reflecting swings in the stock market.” To be sure, Buffett and his long-time partner, Charlie Munger, expect the capital gains from the stock investments to be “substantial.” The famed investing duo also views the stock portfolio “as a collection of businesses.” “We don’t control the operations of those companies, but we do share proportionately in their long-term prosperity," Buffett wrote. "From an accounting standpoint, however, our portion of their earnings is not included in Berkshire’s income. Instead, only what these investees pay us in dividends is recorded on our books. Under GAAP, the huge sums that investees retain on our behalf become invisible." He added that those unrecorded retained earnings are usually building “lots of value” for Berkshire when those companies use those funds to grow their businesses and pay off debt and buyback stock. “As we pointed out in these pages last year, retained earnings have propelled American business throughout our country’s history. What worked for Carnegie and Rockefeller has, over the years, worked its magic for millions of shareholders as well,” Buffett wrote. While some investments will disappoint with their retained earnings, others will “will over-deliver, a few spectacularly.” “In aggregate, we expect our share of the huge pile of earnings retained by Berkshire’s non-controlled businesses (what others would label our equity portfolio) to eventually deliver us an equal or greater amount of capital gains. Over our 56-year tenure, that expectation has been met,” Buffett added. Julia La Roche is a correspondent for Yahoo Finance. Follow her on Twitter . Buffett: Bond investors world-wide 'face a bleak future' Buffett: 'It's easy to overlook the many miracles occurring in middle America' Buffett explains why Berkshire isn't a typical conglomerate Berkshire Hathaway's annual meeting will be held in Los Angeles Read more from the Daily Journal Meeting: Charlie Munger on Robinhood and GameStop frenzy: 'It's a dirty way to make money' Munger diverges from Buffett on Wells Fargo: 'Warren got disenchanted' Munger: 'The world would be better off without' SPACs ‘I have a bust of him’: Charlie Munger on why he admires Singapore's first prime minister Munger compares Bitcoin to what Oscar Wilde said about fox hunting Charlie Munger says Costco 'has one thing that Amazon does not' Munger: It's 'absolute insanity' to think owning 100 stocks makes you a better investor than owning five Munger: A little inequality is good for the economy || 'The Bank of England will issue e-pounds within two years as cash dies out': An e-pound illustrated We will have “e-pounds” within two or three years and will be a virtually cashless society within a decade, the man who runs Britain’s cash machines has said. A new digital sterling issued by the central bank will be widely used as a replacement for cash and take on the likes of digital currency Bitcoin, predicted John Howells, the boss of Link, the nation’s cash machine network. There will be a period of 10 years when cash and e-pounds will still be interchangeable before cash use eventually dies out altogether, Mr Howells added. Watch: What are the risks of investing in cryptocurrency? “The shift will be accompanied by a massive Government education push similar to the move from shillings and pence during decimalisation in the 1970s, or the switch to digital television during the 2000s analogue switch-off.” Existing digital currencies such as Bitcoin will never be an appropriate way of paying for goods, due to wild swings in its value, Mr Howells said. Rather, we will follow a highly regulated Swedish-style approach that keeps our spending habits private. “We won’t be dispensing Bitcoin any more than we will be issuing gold bars out of a hole in the wall,” Mr Howells added. Cash use for payments It follows similar comments made by Andrew Bailey, the Governor of the Bank of England, who said earlier this year that Bitcoin was unlikely to ever become a mainstream form of payment. The central bank is currently considering the practicalities of designing and introducing its own official digital currency such as an “e-pound”, similar to the “e-krona”, which is already being trialled in Sweden. The idea is to allow simple transactions between parties without involving banks or other go-betweens, allowing people to pay in the same way they do in cash today without any physical money changing hands or anything being lost to third-party costs. As with cash, people would be able to use the digital currency without having a bank account, in theory. But the new system would supposedly be more secure, with less risk of money going missing down the back of the sofa or being lost in other ways, such as theft. Story continues “I am expecting this to happen pretty soon, within only a couple of years,” Mr Howells said. “Cash usage has almost halved and that is not going to come back as the pandemic eventually goes away. We are on the route to a very low-cash society. One in 10 payments are made in cash now. This is down from 60pc a few years ago. This could soon drop to one in 20. “Once you get to that level, shops will stop accepting physical money altogether and cash machines and branches will get thinner on the ground. My job is to make sure there is still cash in machines that can live in harmony with the new system for those who will need help making the transition.” Cash use is in chronic decline, as the above chart shows, and has fallen sharply since the pandemic began. Cash machine use on the main Link network was down by almost 40pc at the end of 2020 compared with the year before. Cash machines on British high streets have closed down at a rate of 340 every month since the pandemic started, according to payments firm Dojo. One in three customers has been refused service in a shop when trying to use cash over contagion fears, consumer group Which? found. Two million people still depend on cash every day, but at the same time interest in the most prominent digital currency Bitcoin has boomed. Endorsement of the cryptocurrency from institutions such as payment firm PayPal, investment bank JP Morgan and investment house Ruffer, plus investors betting on future price rises, caused its value to soar to record highs of more than $50,000 (£35,000) this year, as you can see in the second chart. But its value dropped by some $10,000 in a matter of hours this week, after America’s Treasury Secretary declared it “highly speculative” and “inefficient” for transaction. Watch: What is bitcoin? || Bitcoin-Based DeFi Protocol Sovryn Raises $10M, Offers $1.2M Bug Bounty: Sovryn, a bitcoin-based DeFi protocol, is offering a $1.2 million bug bounty after raising $10 million in a token presale.
• The London-based project raised the funds inbitcointhrough the presale of its governance token SOV at a price of 9,736 satoshis (the smallest BTC unit, equivalent to a 100 millionth of a bitcoin) per token.
• The total digital assetsSovrynhas raised now stands at $16 million, according to an announcement shared with CoinDesk.
• The funds will partly be invested in the protocol’s bug bounty program, now offering white hat hackers up to $1.25 million if they can spot critical flaws in the Sovryn smart contract.
• Sovryn claims bounty, offered in partnership with bug bounty platform Immunefi, is the largest ever.
• Immunefi co-founder Travin Keith believes the program will “incentivize white hats to look through the code as well as incentivizing black hats to disclose bugs, instead of exploiting them.”
• The platform’s page for the bounty states: “The final reward amount is capped at 10% of the funds at risk based on the vulnerability reported.”
• The bounty would be paid out in bitcoin or the SOV token.
See also:DeFi Project ArmorFi Awards $1.5M Bounty for Bug Alert That Potentially Saved Its Reserves
• Bitcoin-Based DeFi Protocol Sovryn Raises $10M, Offers $1.2M Bug Bounty
• Bitcoin-Based DeFi Protocol Sovryn Raises $10M, Offers $1.2M Bug Bounty
• Bitcoin-Based DeFi Protocol Sovryn Raises $10M, Offers $1.2M Bug Bounty
• Bitcoin-Based DeFi Protocol Sovryn Raises $10M, Offers $1.2M Bug Bounty
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 48927.30, 48912.38, 51206.69, 52246.52, 54824.12, 56008.55, 57805.12, 57332.09, 61243.09, 59302.32
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-09-16]
BTC Price: 229.09, BTC RSI: 41.51
Gold Price: 1119.20, Gold RSI: 49.78
Oil Price: 47.15, Oil RSI: 55.80
[Random Sample of News (last 60 days)]
Bitcoin Payments Decline Significantly At Expedia: Expedia Inc (NASDAQ: EXPE ) introduced bitcoin as a payment option about a year ago. The company hoped to reach new users and meet the growing demand for digital payments by adding a bitcoin option. However over the past 12 months, the travel website said it has seen a significant decline in the number of payments made using bitcoin, something which could be attributed to the cryptocurrency's marked decline. Loss Of Value Expedia's Senior Payments Product Manger Connie Chung told CoinDesk that bitcoin purchases on the site have declined by 40 percent over the past year. Chung said that drop makes sense when you look at how much value bitcoin has lost over the past 12 months. When bitcoin was added to Expedia's service in June last year, it was worth more than $600. Now, the currency is trading at just over $270 following a price rally earlier in the month. Related Link: Venture Capitalists Pouring Money Into Bitcoin Bitcoin To Stay Put While the decline in bitcoin payments suggests that consumers aren't as willing to use the cryptocurrency as merchants had predicted, Chung said Expedia plans to continue offering bitcoin as a payment choice for as long as there is some demand for it. She said the company's decision to incorporate bitcoin had little to do with the firm's stance on digital currencies and that it has simply been a way to meet customer needs. See more from Benzinga EU In Favor Of Iran Deal Is Social Activism And Marketing A Good Combination? Deloitte Expresses Interest In Cryptocurrencies By Joining Australian Industry Group © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Colorado Prepares For Green Wednesday: On Wednesday, September 16, Colorado's marijuana enthusiasts will enjoy a one-day tax holiday in which the state's 10 percent tax on cannabis products will be repealed. The prospect of buying tax-free pot has the state's drug users gearing up for a shopping spree and has prompted dispensaries to offer deep discounts reminiscent of traditional retailer's Black Friday deals. With the holiday just under a week away, Colorado's pot scene is already preparing. Tax Glitch Green Wednesday is the result of a loophole in the Colorado tax law which requires the state to refund some taxes if revenue exceeds estimates. Recreational pot is taxed at 10 percent in Colorado, but on September 16, that tax will be waived and shoppers will pay only the 2.9 percent sales tax that is applied to all goods bought within the state. Shoppers will have to pay any taxes applied by the local jurisdiction in which the retail marijuana is sold. Colorado also has a 15 percent state excise tax, which is applied to sales or transfers from a retail marijuana cultivaton. A discount on this tax will not be applied to shoppers. Related Link: Marijuana Posts A Major Win On The Campaign Trail The holiday will make an ounce of marijuana about $20 cheaper than normal and is expected to cause Colorado's government to lose out on $3 to $4 million worth of revenue. Huge Turnout Anticipated Dispensaries and pot-related businesses are expecting a huge turnout on Wednesday as consumers bulk up their supply or marijuana while the drug is cheap. To lure the crowds into their businesses, many are offering additional price cuts to celebrate the tax holiday. Colorado's oldest and largest dispensary, The Grass Station, will give customers who enter the store before 9:16 a.m. ET a 50 percent discount on their entire purchase and will offer a 10 percent discount for the remainder of the day. See more from Benzinga Wall Street Joins The Bitcoin Movement Investors Look To China For Bargain Buys Phone Carriers Hoping To Profit From New iPhone © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Greece could soon get 1,000 bitcoin ATMs: Bitcoin(: BTC=)ATMs could spring up across Greece as soon as October as citizens and businesses become increasingly desperate to move their money despite capital controls.
BTCGreece, which bills itself as the country's first bitcoin exchange, plans to eventually install 1,000 ATMs nationwide, in partnership with European bitcoin platform, Cubits.
Thanos Marinos, the founder of BTCGreece, told CNBC on Wednesday that a soft launch was on the cards for October.
"It is part of my vision to create a block chain ecosystem in Greece," he told CNBC. "If all goes as expected with no major issues we will launch first ATMs October 2015."
Bitcoin is adecentralized digital currency that can be used around the world. Transactions are listed in a shared public ledger called the block chain.
The digital currency has been touted as one way to to circumvent Greek capital controls. These have been in place since June and limit domestic investors to withdrawing no more than 60 euros ($66) per day from Greek banks, making life extremely tough for companies that need to pay or receive bills. Greek individuals and businesses are also forbidden from moving money to bank accounts abroad.
The ATMs envisaged by Marinos could allow users to convert fiat currency into bitcoin and potentially vice versa.
As yet, BTCGreece has no ATMs in Greece. However, Marinos said he had already received requests from 300 shops for bitcoin ATMs.
"We want to do it cautiously," he told CNBC, adding that BTCGreece would announce more partnerships next week.
Bitcoin rallied in Juneamid reports that Greeks were flocking to the currency in order to circumvent the controls. However, the currency's decentralized nature makes it challenging to say how many Greeks currently use it.
Bitcoin ATMs have already been installed in other countries, predominately in the U.S. and Western European countries like the U.K., the Netherlands and Spain.
"There has been a focus on bitcoin and Greece and the economic instability there," Akif Khan, chief commercial officer at digital commerce company, Bitnet, told CNBC on Wednesday.
"So in one sense it will be an interesting experiment to see if Greeks do gravitate towards bitcoin as one of the tools in their financial toolkit to try and cope."
Read MoreTrack Bitcoin versus the euro(Unknown: BTCEUR=)
Belfast-based Khan added that Greece's regulatory environment was conducive to introducing ATMs.
"In principle, putting bitcoin ATMs into Greece is just as feasible as in any other European country... Greece does not have a prohibitive regulatory environment in this regard," he told CNBC.
-By CNBC'sKaty Barnato. Follow her@KatyBarnato.
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• Personal Finance || Bitcoin startups lure quant whizzes from Wall Street: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Armed with a doctorate in financial engineering, 34-year-old Timo Schlaefer was on his way to a promising career at Goldman Sachs in London. Previously with the bank's mergers and acquisitions team, he became an executive director of credit quantitative modeling at Goldman, where quants like Schlaefer are highly valued.
In February he gave that up, and launched a company called Crypto Facilities Ltd, a bitcoin derivatives trading platform, which now has six employees. For now, the platform trades bitcoin forwards, which are directly linked to the price of bitcoin, but it's also developing other digital currency derivative products.
"This is uncharted territory," said Schlaefer. "It's an exciting opportunity to participate in a new area of technology that has massive potential."
Bitcoin is a virtual or online currency created through a "mining" process where a computer's resources are used to perform millions of calculations. Once mined, bitcoins can be stored in an online wallet, traded in an online exchange, or used to buy goods and services.
Once the province of small-time investors driven by their distrust of government-backed currencies, now Wall Street bankers and traders are leaving high-paying jobs to join bitcoin start-ups, while big firms hire in-house to get their arms around bitcoin and the related 'blockchain' technology.
"A lot of people are entering the bitcoin space as the sector has reached an overall level of funding that's hard to ignore," said Jaron Lukasiewicz, founder and chief executive officer at New York-based bitcoin exchange Coinsetter. Lukasiewicz, 29, moved to the bitcoin world in late 2012, having left behind a six-figure salary in private equity at The CapStreet Group in New York.
Bitcoin is not backed by a government and its value fluctuates. On Thursday, it was trading at $278 <BTC=BTSP>, making the value of outstanding bitcoin worth about $4 billion. It has had a volatile history, with a rapid rally in 2013 that boosted its value to more than $1,150 per bitcoin at one point.
Right now, Crypto Facilities' Schlaefer probably won't make anywhere near the kind of money that he would potentially earn at Goldman. But it's less about the compensation for Schlaefer and more about being part of the growth in bitcoin and its underlying technology, the blockchain.
The blockchain - a ledger or list of all of a digital currency's transactions - is viewed as bitcoin's main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.
Software engineers have started developing multiple applications for the blockchain, including a land title record system in Honduras to the clearing of trades in financial markets.
Meanwhile, Wall Street firms are doing their own hiring in the cryptocurrency realm. In June, online bitcoin job ads surged to a record high of 306, according to data from Wanted Analytics, with demand coming from banks such as Capital One and tech companies such as Intel and Amazon. In previous months, Citigroup and TD Canada Trust posted bitcoin job ads as well.
RISKY BUSINESS
For 31-year-old Paul Chou, founder and chief executive officer of Ledger X, an institutional trading and clearing platform for bitcoin options, moving into the digital currency space represents what he hopes results in lucrative profits down the road. But there are other reasons for his shift.
LedgerX is awaiting regulatory approval from the Commodity Futures Trading Commission to trade and clear options on bitcoin. Chou said the firm hopes to operate the first regulated exchange and clearinghouse to list and clear fully-collateralized, physically-settled bitcoin options for the institutional market.
"I took a very large salary pay cut to do this, in return for equity in a start-up that can be worth a lot someday," Chou said.
Before LedgerX, Chou worked at Goldman Sachs in New York as a quant equity trader after graduating from the Massachusetts Institute of Technology with degrees in computer science and mathematics. Chou said his hours are much longer as an entrepreneur - he's constantly refining ideas for strategy and thinking which areas to focus on.
"The domain expertise, relationships, and career equity I've built are things I never could have done while at Goldman," Chou said. "As a former trader, I'm glad I made this trade-off at the stage of my career that I did."
It's a risky move, however. There are already several tales of bitcoin company failures and mismanagement.
U.S. bitcoin marketplace Buttercoin, for instance, shuttered its operations in April this year despite raising $1.3 million in funding. Bitcoin exchange MyCoin closed its doors in February of 2015, leaving about 3,000 investors out of pocket.
Tokyo-based Mt. Gox, once one of the most dominant bitcoin exchanges, closed its doors without warning in February last year, filing for bankruptcy and leaving investors approximately $500 million in the red.
BITCOIN INVESTMENTS, HIRING
Total investments in bitcoin companies for the first half of 2015 - totaling $375.4 million - have already exceeded 2014's total of $339.4 million, data from CB Insights showed. Last year's venture capital funding of bitcoin start-ups grew roughly 280 percent from 2013.
The number of bitcoin start-ups has increased by more than 80 percent from last year. As of end-July, there were 814 start-up digital currency companies, up from 444 a year earlier, according to Angel List, an online marketplace for start-ups seeking to raise money from angel investors.
As banks defer compensation and add more clawback provisions that give them the right to limit bonuses, traders are seeing better risk opportunities elsewhere, said San Francisco-based Rick Henri Chan, chief operating officer at Airbitz, a digital wallet platform.
Chan, 47, who joined the bitcoin industry three years ago, worked for Deutsche Bank as head of its over-the-counter derivatives technology in Japan, and was a trader at UBS and Morgan Stanley.
He works long hours at Airbitz, doing everything from strategy to raising money, but the work environment is more flexible. At Deutsche, Chan had a multi-million dollar package, and he admits to missing that paycheck.
"But we're doing something special here at Airbitz. And I do think our company will be valued at a lot more in the future," he said.
(Reporting by Gertrude Chavez-Dreyfuss, editing by David Gaffen and John Pickering) || California Plans For Pot Expansion: Although current California legislation still prohibits recreational marijuana use, the state has been at the forefront of the cannabis industry since relaxing its laws to allow residents to use marijuana for medical reasons. However, as the push for full-scale legalization picks up momentum, the state's lawmakers have struggled to determine just how the industry should be allowed to grow. Regulation Questions In many California cities, dispensaries have been forbidden while in others a plethora of marijuana facilities, both legal and illegal, have sprung up. To streamline the industry and give growers a place to expand, Arcata, a northwestern city, is opening a Medical Marijuana Innovation Zone. Related Link: Marijuana Proves Useful In Treating Bone-Related Conditions Marijuana Zone The zone will be wholly dedicated to the production of marijuana, something that is believed to be a first in the U.S. By giving pot growers a place apart from California's residential neighborhoods to cultivate their crops, Arcadia City Council officials hope to carve out their town's role in the growing industry. Regulating The Industry Arcata's decision to create a specific zone for marijuana cultivation could serve as a blueprint for other states struggling with the issue of how to regulate the cannabis industry. When the land has been specifically designated for marijuana production, it gives local officials a chance to impose rules on growers in regard to land use rather than drug policy. That means pot regulation can be carried out on a local rather than state level. Money Maker Not only will Arcata's marijuana zoning plan help revamp California's pot industry, it's also expected to bring in big bucks for the local economy. Arcata and its local businesses stand to profit from the pot industry in the coming years, especially if California legalizes recreational marijuana as well. See more from Benzinga Venture Capitalists Pouring Money Into Bitcoin Greek Bailout Deal: Agreed To By Many, Welcomed By None People Using Cryptocurrency For Secret Communications © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || 10 things in tech you need to know today: (REUTERS/Robert Galbraith)
Good morning! Here's the tech news you need to know to start off your week.
1.Netflix will no longer be able to show high-profile Hollywood movies like Transformers and the Hunger Games to US viewers.Netflix isn't renewing its distribution deal with Epix, and will be focusing on its original-content efforts instead.
2.Apple is reportedly planning a big increase in the price of the new Apple TV.The new version of Apple TV will be available in October and could cost about $200.
3.The US may have to go after the 'Great Firewall' to stop China's cyber-attacks.President Obama is expected talk to hisChinese counterpart Xi Jinping next month about cyber espionage.
4.Minecraft founder Markus Perssonwent on a tweetstorm this weekend to talk about the empty side of success, and selling his company to Microsoft for $2.5 billion.Microsoft bought Minecraft almost a year ago, and the founder did not join Microsoft after the sale.
5.Uber has hired the two security researchers famous for hacking into a Jeep and stopping it while driving.Charlie Miller and Chris Valasek will be announced as new hires today, Reuters reports.
6.In the wake of his company's data breach, Ashley Madison CEO Noel Biderman has resigned.He is no longer with the company.
7.Apple launched two new Apple Music TV ads last night during the MTV Video Music Awards featuring The Weeknd and actor John Travolta.The two-part, episodic series of ads highlights Apple Music's user interface, and its playlist feature in particular.
8.Investors are starting to worry that some big-name startups are overvalued.Investors in late-stage startups worry that the stock market's six-year bull run is coming to an end, and that today's super valuable private tech companies won't live up to their valuations when they go public.
9.Starting tomorrow, Google Chrome will be blocking Flash ads entirely by default.Google, which warned advertisers in advance, says it's blocking Flash ads for its performance-hindering effects.
10.Wall Street is paying attention to Bitcoin.The New York Times reports thatexecutives from more than 12 large banks gathered earlier this year to confidentially discuss how the technology behind Bitcoin could be used to changeforeign currency trading.
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• 'I've never felt more isolated': The man who sold Minecraft to Microsoft for $2.5 billion reveals the empty side of success
• A leaked part of an iPhone 6S shows a bigger, more powerful front camera || Is Social Activism And Marketing A Good Combination?: Earlier this month, The Coca-Cola Co (NYSE: KO ) removed its logo from cans of coke in the Middle East and replaced it with a message that read "Labels are for cans, not people." The campaign ran during Ramadan, an Islamic festival that takes place from June 17 to July 17. Overall, Coke's decision to pair marketing with social activism appeared to be a success, as the campaign quickly made its way through social media. Smart Marketing Or Soap Box? Many big corporations have used a global issue to drive their marketing campaigns much like Coca-Cola did, but the results haven't always been so positive. Trying to drive social change can have big rewards as it gets consumers to associate a company's brand with positive influence. However, firms also run the risk of seeming insincere, hypocritical and even uninformed if their campaign is a failure. Related Link: Bitcoin In The Middle East Race Together When racial tensions were at an all-time high earlier this year in the U.S., Starbucks Corporation (NASDAQ: SBUX ) inserted itself into the cross fire with its " Race Together " campaign. Soon after asking baristas to write the phrase "race together" and encourage open dialogue about race relations, the company disassembled much of the campaign. Social media lit up with accusations that the coffee-chain was overstepping its boundaries and using the issue as a marketing ploy and ultimately, the "Race Together" initiative was considered a flop. Real Beauty On the other hand, Unilever plc (ADR) (NYSE: UL )'s Dove brand used its far-reaching popularity to send a message about female self-esteem through its "Real Beauty Sketches" campaign. The company released a video in which women received two portraits of themselves from a forensic artist. The first was drawn based on their own description of themselves and the second was from a stranger's point of view. The video drove home the point that many women are critical of their own appearance and that they are more beautiful than they perceive. Soon after its release, the video went viral. Story continues Image Credit: Public Domain See more from Benzinga Starbucks Hopes To Blend In With The Locals Starbucks Hits Its Stride In The Digital Age Beverage Makers Hope To Ride The Craft Beer Wave © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 5 technology stocks to buy at a discount: After a day of relief fromChina-fueled concerns, some CNBC"Fast Money"traders looked to a Chinese company for upside.
Major U.S. averagesjumped sharply Wednesdayin their best day since 2011, as investors shrugged off fears about the world's second-largest economy. U.S.-listed shares of Alibaba(NYSE: BABA), though, closed barely higher and are down 33 percent this year.
"Alibaba is always a play on the Chinese consumer," said trader Brian Kelly, saying it "is the buy here" for the long term.
Trader Tim Seymour-who owns the stock-said he would stick with it. Alibaba makes an appealing play on its current valuation and projected growth, he added.
Read MoreApple stock flashes a warning signal
Big U.S. tech stocks, meanwhile, helped drive the rally. Netflix(NASDAQ: NFLX)-which climbed 8 percent on the day-looks like a buy after a stark drop earlier this month, said trader Guy Adami.
"The market's changed. Netflix hasn't," he said.
Meanwhile, Google(NASDAQ: GOOGL)and Facebook(NASDAQ: FB)jumped 8 and 5 percent, respectively, on Wednesday. Priceline(NASDAQ: PCLN)also climbed 4 percent.
Read MoreThe morning tech rally scares Mark Cuban
Trader Steve Grasso contended that all of those stocks look appealing, even after their surges.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Steve Grasso
Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX. His kids are long EFA, EFG, EWJ, IJR, SPY. His firm and some of its partners are long DVN, BP, COP, CVX, FCX, NE, NEM, OXY, RIG, VALE
Brian Kelly
Brian Kelly is long BBRY, BTC=; TWTR call spread, U.S. Dollar; he is short Euro, Ruble, Yen, Yuan, US Treasuries.
Guy Adami
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Personal Finance || Goldman Sachs' former technology chief is doing great business at his new payments company: Hank Uberoi (Earthport) Earthport CEO Hank Uberoi, who is Goldman Sachs' former co-COO for technology. Earthport, the cloud-based payment platform run by Goldman Sachs' former co-COO of technology, Hank Uberoi, put out unaudited results for the year to June on Wednesday — and they're pretty good. The London-based company's revenue jumped 78% last year to £19.25 million ($30 million). The dollar value of payments made on Earthport's cloud-platform rose by 75%, and the company is on track to process $10 billion (£6.4 billion) worth of transactions by the end of the year. Earthport is trying to build a faster, more tech savvy, international payments network, built on the cloud. The current systems of so-called payment "rails" were built decades ago, and are slow and costly. Thirty-one new customers signed up to the platform last year and big names like HSBC, Santander, and Standard Chartered all started routing payments through Earthport's system. Uberoi said in today's statement: "We are pleased and enthusiastic about the acceptance of the Earthport payment network as a truly valuable and innovative solution in the massive payments market." He said the medium- to long-term potential for Earthport's technology is "significant." Investors are clearly buying in to that theory. Earthport's shares, which are listed on London's market for growing companies AIM, are up 6% at a one-month high. Earthport shares (Investing.com) Earthport shares are jumping. NOW WATCH: The science behind losing weight More From Business Insider Citigroup beats earnings estimates Goldman Sachs had a great quarter … if you ignore legal costs Bitcoin is the 'Napster' of finance — and there'll be an iTunes || BTCS Doubles Capacity at Its North Carolina Facility: ARLINGTON, VA--(Marketwired - Jul 30, 2015) -BTCS Inc.(OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology focused company which secures the blockchain through its transaction verification services business, doubled its operating capacity at its North Carolina facility from 1.5 megawatts ("mw") to 3 mw.
"Using only 0.65mw of our capacity, and approximately 891 Th/s, we were able to earn 552 Bitcoins in the second quarter," stated Charles Allen, Chief Executive Officer of BTCS. "By increasing our operating capacity to 3mw, we've set the stage for significant growth in the quarters ahead, which we believe we can leverage even further through our pending merger with Spondoolies-Tech. The addition of Spondoolies' third-generation Application Specific Integrated Circuit ("ASIC") servers upon closing of the pending merger is expected to provide a 3x-5x efficiency improvement to our operations. We believe this should translate to a significant boost in our hashing power."
BTCS estimates that it currently costs the Company approximately $100-$120 to earn each Bitcoin. Assuming the implementation of third-generation ASIC servers from Spondoolies at the Company's facility in North Carolina, the increased capacity of 3mw is expected to power a hash rate of between 13,000 and 29,000 Th/s.
Allen continued, "Our refined focus on securing the blockchain minimizes risk and positions us to capitalize on the massive market potential of the blockchain across all industries. We believe we selected an ideal timing for market entry that allowed us to pass over the high-risk period of extreme volatility that knocked many smaller players out of the space. With this latest increase in capacity, we believe we are well positioned to become a dominant player for the long-term."
About BTCS:The blockchain is a decentralized public ledger that has the ability to fundamentally impact, on a global basis, all industries that require trust and rely on or utilize record keeping. BTCS secures the blockchain through its rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit:www.btcs.com
Forward-Looking Statements:Certain statements in this press release, including those related to an anticipated merger, constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 284.31$ $BTCUSD $btc #bitcoin 2015-07-31 20:00:03 EDT || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $369.58 #bitcoin #btc || Current price: 256.27€ $BTCEUR $btc #bitcoin 2015-07-31 09:00:04 CEST || buysellbitco.in #bitcoin price in INR, Buy : 19169.00 INR Sell : 18558.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 23 exchange pair(s), yielding profits ranging between $0.00 and $177.70 #bitcoin #btc || Current price: 164£ $BTCGBP $btc #bitcoin 2015-08-17 23:00:06 BST || It would be auspicious to buy at https://Bittylicious.com/refer/2465 £161.00 per BTC. (BPI +3.83%) #buy #bitcoin #banktrans || 1 #bitcoin 789.99 TL, 278.55 $, 255.331 €, GBP, 17114.00 RUR, 35000 ¥, CNH, 367.36 CAD #btc || Current price: 288.08$ $BTCUSD $btc #bitcoin 2015-07-25 17:00:03 EDT || 1 #BTC (#Bitcoin) quotes:
$265.06/$265.92 #Bitstamp
$262.00/$262.47 #BTCe
⇢$-3.92/$-2.59
$266.51/$266.52 #Coinbase
⇢$0.59/$1.46
|
Trend: up || Prices: 229.81, 232.98, 231.49, 231.21, 227.09, 230.62, 230.28, 234.53, 235.14, 234.34
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-04-20]
BTC Price: 8845.83, BTC RSI: 63.00
Gold Price: 1336.70, Gold RSI: 49.79
Oil Price: 68.38, Oil RSI: 64.92
[Random Sample of News (last 60 days)]
Economists Explore Bitcoin's 'Equilibrium Price' in New Paper: Two economists have developed a model for pricing bitcoin and other assets in decentralized financial networks.
Emiliano Pagnotta and Andrea Buraschi, professors of finance at Imperial College Business School in London, haveproposeda theoretical structure for networks based on proof of work, which include bitcoin and ethereum. Their paper is dated March 21 of this year.
Their analysis focuses on two main variables: the number of users - who represent the demand side - and the hash rate provided by miners, who represent the supply side.
The authors point out that decentralized financial networks are unique in that tokens "simultaneously serve two functions." In addition to functioning as an asset, they incentivize miners to maintain the network. The equilibrium price of the token, then, is the solution to "a fixed-point problem that characterizes the interaction between consumers and miners," according to the paper.
There are two solutions to this problem for any set of conditions, the paper says, one of which is $0.
Buraschi and Pagnotta wrote:
"Indeed, if the price of bitcoin were zero, miners would not provide any resource to the network, and its trust would be zero. Consumers would derive no utility from the system and would not pay a positive price for bitcoins."
But there is also a positive equilibrium price, according to this model. What that figure is depends on the network's hash rate, the expected number of future network users, and the value users place on the network's resistance to censorship, they argue.
This framework sheds light on some recent adjustments in bitcoin's price. According to Pagnotta and Buraschi's model, regulatory changes in China would matter more than such changes in Britain. Even though both countries have similar numbers of bitcoin users, China has more miners - meaning acrackdownthere would have a greater effect on the hashrate and, therefore, the price.
One factor the authors did not take into account is "pure speculative motives," which arguably affected the price of bitcoin more than any other development in 2017.
The full research paper can be found below:
SSRN-id3142022byCoinDeskon Scribd
Math on chalkboard imagevia Shutterstock || A Computer Glitch Let a Trader Claim $20 Trillion in Free Bitcoin: An error in the price calculation system at Japanese cryptocurrency exchange Zaif has allowed some customers to claim digital tokens for free--including one who “purchased”$20 trillion worthof Bitcoin.
That’s problematic on a number of levels, but among those is the fact that the total Bitcoin market capitalization is around $183 billion,according to CoinMarketcap.
Officials at Zaiftell Japanese newspaperAsahi Shimbunthat the glitch lasted 18 minutes. Seven people took advantage of it--one of whom (the one who tried to get their hands on $20 trillion worth) tried to cash out.
Tech Bureau, which owns the Zaif exchange, has invalidated the transactions and corrected user balances. However, the company is now being investigated by Japan’s Financial Services Agency (FSA) about the security of its system as well as other business practices.
The added scrutiny comes just weeks after the FSA reportedlyraided Tech Bureauto investigate its internal governance structure after the hacking of Coincheck, which saw thieves make off withover $500 millionin cryptocurrency.
See original article on Fortune.com
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• Police in South Korea Are Investigating the Death of a Bitcoin Policy Coordinator || Norway Government Welcomes Bitfury to Open $35 Million Bitcoin Mining Datacenter: Bitcoin industry giant Bitfury is opening a new bitcoin mining center in Norway, bringing investments and jobs in a move that has delighted the countrys government. In an announcement on Tuesday, the BitFury Group revealed details of its expansion into Norway with what it deems a sustainable, energy-efficient datacenter in a foray backed by the government. Breaking news Bitfury has officially partnered with the country of Norway to open a bitcoin mining datacenter in Mo I Rana! Our datacenter will run on renewable energy, reaffirming our commitment to bitcoin sustainability. Read more: https://t.co/MkzVsY4zIk pic.twitter.com/MapKTUhW9i The Bitfury Group (@BitfuryGroup) March 20, 2018 Bitfury is investing about 274 million NOK (35 million USD) toward the datacenter that will be located in the town of Mo I Rana, a major town in Northern Norway. Around 30 jobs are expected to be created locally. In welcoming the cryptocurrency firm to the country, Norways Minister of Trade and Industry Torbjørn Røe Isaksen said: I am delighted that the Bitfury Group has chosen to establish their new data center in Norway and Mo I Rana
. This represents a major economic opportunity for Norwegian businesses. The datacenter industry is growing fast and provides Norway with opportunities of economic growth and new jobs. Bitfury contends the datacenter will run on a power usage effectiveness (PUE) of 1.05 or lower, listing it among the worlds most energy efficient mining operations. To fuel its production, Bitfury is purchasing 350 Gigawatt hours (GWh) of 100% hydroelectric renewable energy from a local power supplier. Norways open embrace of cryptocurrency mining firms is aided by the colder temperatures and access to renewable energy, along with a friendly tax code. These factors will prove favorable to miners at a time when crypto mining is under scrutiny for its energy-intensive appetite. For instance, the state of New Yorks public utility regulator recently granted local power suppliers the ability to charge higher tariffs for crypto mining firms in the state. Not so in Norway, where the countrys industry minister has a markedly different approach in dealing with crypto companies. It has been important for us to facilitate the opening of more data centers in Norway, he added, in quotes reported by Norwegian state-owned publication NRK . We have green power, so this can create jobs and investments in new technology. Story continues Featured image from Shutterstock. The post Norway Government Welcomes Bitfury to Open $35 Million Bitcoin Mining Datacenter appeared first on CCN . View comments || Why Roku Stock Just Gave Back Its Gains: Easy come, easy go. Yesterday,Roku(NASDAQ: ROKU)shares snaggeda quick 9% gainon news thatDisney's(NYSE: DIS)ESPN will make itself available on Roku players. One day later, Roku is giving those gains right back.
Its stock is down 8.9% as of 1:40 p.m. EDT on news of a partnership betweenAmazon.com(NASDAQ: AMZN)andBest Buy(NYSE: BBY)to sell Amazon Fire-enabled television sets -- and Roku stock is now trading back below its Monday close.
Roku stock is crashing. Film at 11. Image source: Getty Images.
Here's a quick rundown of what laid Roku low: This morning, Amazon and Best Buy announced a joint initiative to design and sell "Fire TV Edition smart TVs" in Best Buy stores. Best Buy is planning to roll out 11 Insignia- and Toshiba-branded 4K and HD TV sets with Fire built in as early as this summer.
Why might this be bad news for Roku? Up until now, Roku had been Best Buy's partner-in-tech for the store's house brand Insignia line.The Wall Street Journalreports that henceforth, that will not be the case -- Best Buy's going exclusive with Amazon, and cutting Roku out.
The more interesting story, here, is why this might not be such bad news for Roku. For one thing, just because Amazon and Best Buy have decided to build it doesn't mean customers will necessarily come, as the saying goes. There are at present no details on the pricing of the new sets, their capabilities, or how they will compare to other TVs with similar functionality. There's no guarantee the new product lines will prove popular.
There's also the possibility that consumers are starting to wise up to the inadvisability of getting "locked in" to just one technology when it's built into a smart TV. Oftentimes, it's better for buyers to keep their options open -- buying TVs and streaming boxes separately so they can easily and cheaply shift between technologies as they develop. If you decide you prefer Roku over Fire (or vice versa), after all, it's a lot cheaper to buy a new streaming box than to buy an entire new 65-inch flatscreen.
As of today, though, investors' reaction looks more knee-jerk than measured. They're selling off Roku stock, and Amazon and Best Buy are the two reasons for it.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Rich Smithhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon and Walt Disney. The Motley Fool has adisclosure policy. || Caesars Entertainment Is Taking Its Brand Worldwide: Gambling isn't legal in Dubai, but that isn't stopping Caesars Entertainment (NASDAQ: CZR) from putting its Caesars brand on a new hotel there. The company recently announced a deal with Meraas Holdings LLC to manage two luxury hotels and a beach club at Meraas' Bluewaters Island development. The property will be the first non-gaming resort to carry the Caesars brand and is another way for the company to leverage its name worldwide. If the Dubai resort goes well, this could be the first of many non-gaming resorts in the Caesars Entertainment portfolio. Rendering of Caesars Bluewaters Dubai. Image source: Caesars Entertainment. Caesars' big plans in Dubai The two properties in Dubai will be known as Caesars Palace Bluewaters Dubai and Caesars Bluewaters Dubai and they'll house six restaurants and bars, 479 hotel rooms, and 164 shopping and entertainment outlets. While the name of the property says that it's an island, it's technically a man made peninsula that's connected to Dubai's dense Marina district. It's an area with thousands of hotels, which is why Bluewaters can justify 164 shops and entertainment outlets while having only about 1,000 guests on-site. Caesars has done management deals before with partners like Indian reservations, but it's now branching out into managing non-gaming hotels. The model is more in line with what we would see from Hilton or Four Seasons, which often don't own the hotels they operate but collect a fee for the services they provide and their expertise in running large resorts. The fee Caesars is getting to manage the Bluewaters property wasn't disclosed, but fees typically run between 3% and 3.5% of revenue, according to CBRE Hotels' Americas Research. If we assume that each hotel room averages $400 in revenue per night, the management fee would be $2 million on the hotel business alone. Food and beverage and shopping would increase that fee significantly. Adding a few million dollars in management revenue may not seem like a big deal for Caesars, but it's high-margin incremental revenue, and if the company plays its cards right, it could use the resort as a feeder for the real moneymaking casinos in Las Vegas . The new growth market in gaming Caesars isn't the only company taking its gaming brands worldwide into non-gaming markets. MGM Resorts (NYSE: MGM) has launched MGM Hospitality, a hotel development and management business that mirrors what Caesars is building in Dubai. The company's first major property will be MGM- and Bellagio-branded hotels in Dubai in which MGM will advise on the building process and manage the hotels. Wasl Hospitality will be the owner of the property, which is expected to be completed in 2021. Story continues Like Caesars, MGM Resorts is trying to expand its brand beyond the U.S., and Macau and Dubai have proven to be the locations of choice to start. Caesars' growing plans worldwide This is part of a broader growth strategy Caesars is pursuing outside of the U.S. The company is building a resort and casino in South Korea in a joint venture with Guangzhou R&F Properties. Caesars has also said it is very interested in building a resort and casino in Japan if gaming licenses are ever awarded there . Even though Caesars Entertainment won't be able to win a gaming license everywhere, it could spread its brand by forming management partnerships like the one in Dubai. If the strategy is successful, the company could build a revenue-generating hotel management business that builds brand awareness for international customers who may come to Las Vegas to spend money in the future. Expanding the network could be a lucrative strategy, and investors should watch to see if this kind of deal becomes the norm as gaming companies look to expand in non-gaming markets. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . View comments || How Safe Is AbbVie, Inc.'s Dividend Now?: AbbVie Inc. 's (NYSE: ABBV) treated shareholders to some hefty dividend bumps since its inception five years ago, but a 35% raise announced in February was the biggest yet. Not long after announcing the payout boost and another $10 billion stock repurchase program, a high-profile clinical trial failure knocked AbbVie's stock down a few pegs. At recent prices, AbbVie shares offer a nice 4% yield. That's more than twice as much as you'll get from the average dividend-paying stock in the benchmark S&P 500 index. If you're a cautious investor worried about a dividend that looks too good to be true , here's what you need to know about the pillars supporting AbbVie's rapidly rising payouts. The word dividends on a piece of paper on top of a $100 bill and the word income on another piece of paper next to that bill Image source: Getty Images. On the way down Humira is the world's best-selling drug at the moment, but it's just a matter of time before biosimilar competition begins chipping away at its share of the rheumatoid arthritis (RA) market. Enough patents have expired to allow the Food and Drug Administration to approve two copycat versions, but additional patent litigation has kept them off the U.S. market. Amgen 's (NASDAQ: AMGN) already agreed to delay Amjevita's U.S. launch until 2023, but Boehringer Ingelheim hasn't backed down with Cyltezo yet. I'd be surprised if Cyltezo gets any further than Amjevita, but we can't rule out the possibility. Biosimilars aren't the only competitive threat that could make it hard for AbbVie to keep raising its dividend. Baricitinib from partners Incyte (NASDAQ: INCY) and Eli Lilly (NYSE: LLY) is already marketed in the European Union as Olumiant, but the FDA sent back the first baricitinib application Lilly submitted for more data. During clinical trials, adding Lilly's pills to standard care improved RA symptoms at a rate that bested Humira, and an eventual approval is widely expected. We'll know more about the Olumiant threat on April 23, when an independent advisory committee meets to discuss its risk-to-benefit profile in detail. In the meantime, AbbVie investors will want to keep an eye on how popular the oral therapy is among would-be Humira patients throughout Europe. A man looking down at charts and graphs with his right hand on the side of his face. Image source: Getty Images. Shot missed AbbVie spent a stunning $5.8 billion for Rova-T in hopes it could earn a speedy approval to treat certain lung cancer patients. The assumption turned out wrong , but it probably won't ruin AbbVie's chances to keep raising the dividend in the years ahead. Humira and other products already on the market helped the company generate $9.4 billion in free cash flow last year, which was a lot more than the company needed to make dividend payments that totaled $4.1 billion in 2017. Over the years, AbbVie's funneled Humira profits into a stable of experimental new drugs with potential blockbuster written all over them. Investors will be glad to know that Rova-T didn't even make my top three list . Story continues Earlier this year, AbbVie predicted sales of drugs excluding Humira would rise from $9.8 billion in 2017 to $35 billion in 2025. The Rova-T letdown will knock several billion off that ambitious target, but there's a good chance the company's bottom line, and its dividend can continue expanding over the next decade. Kid wearing aviator goggles and a strapped camera around his neck riding a rocket going up into the clouds. Image source: Getty Images. Going up Dividend investments that depend entirely on potential drug launches are a terrible idea. Luckily, AbbVie's more recently launched offerings are already moving in the right direction. Leading the charge is a blood cancer tablet with sales that keep growing by leaps and bounds ever since it became the first chemo-free option for people recently diagnosed with the most common form of leukemia. AbbVie's share of Imbruvica's haul rose 41% last year to $2.5 billion, and AbbVie thinks it could go twice as high. AbbVie and Roche (NASDAQOTH: RHHBY) launched Venetoclax as a treatment for a very small, genetically defined group of leukemia patients in 2016. So far, sales haven't been worth mentioning, but results from a combination trial designed to expand Venetoclax to a larger population suggest it can still generate several billion annually for AbbVie. The rate of survival without disease progression at 24 months was 85% among patients given a combination of Rituxan plus Venetoclax, versus just 36% in the group given Rituxan plus a standard chemotherapy. Getting leukemia patients who've already relapsed to show initial responses to subsequent treatments is relatively easy, but the duration of those responses is generally poor. To see long-term eradication from these patients is just incredible, and a big reason AbbVie thinks Venclexta can become a $6 billion-per-year drug. MRK Dividend Chart MRK dividend . Data by YCharts . Know what to expect With a slightly diminished late-stage pipeline still ready to deliver the goods, and blood cancer products on the rise now, AbbVie has a good chance of avoiding the sort of long-term earnings contractions that have held back Bristol-Myers Squibb and Merck 's distributions. Thanks to patent cliffs for former lead earners, their earnings per share (EPS) are lower today than they were 20 years ago and both companies have struggled to keep payouts rising at a snail's pace. On a 10-year time frame, the same can be said for Eli Lilly . As a biologic drug , Humira's eventual demise will be far less dramatic than the patent cliffs that have hobbled dividend growth for America's biggest pharmaceutical companies. That doesn't mean a steadily rising payout for the next two decades is guaranteed, but at 4% or better, you won't find a safer dividend in healthcare. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . View comments || Honda Goes Its Own Way With All-New 2019 Insight: On Monday, Honda (NYSE: HMC) revealed its all-new Insight, a hybrid sedan that will slot between the Civic and Accord in the company's U.S. lineup. Honda's decision to roll out an all-new sedan at this moment is an interesting move, given that many of its global rivals will be rolling out new SUV models at this week's auto show in New York City -- and given that sedans have become something of a tough sell in recent years. It's a throwback to a time when Honda found success by going in a different direction, something that's becoming a hallmark of CEO Takahiro Hachigo's management. Here's what we know about the all-new 2019 Honda Insight sedan. A dark gray 2019 Honda Insight compact sedan. The all-new 2019 Honda Insight is a premium hybrid sedan that will slot between the Civic and the Accord in the automaker's U.S. lineup. Image source: Honda Motor Co., Ltd. What it is: A Prius-sized hybrid Simply put, it's a five-passenger sedan, somewhat smaller than an Accord, that shares some underpinnings with the Civic -- and that will be offered only with a conventional gasoline-electric hybrid drivetrain. Sound familiar? Like the last-generation Insight, which made its debut in 2009 as a 2010 model, the new Insight seems to be aimed directly at Toyota 's (NYSE: TM) huge-selling Prius hybrid. That 2010 model featured a flagrantly Prius-shaped body draped over mostly unimpressive underpinnings. It was panned by critics and sold poorly. On paper at least, this new Insight appears to be a very different beast. Its exterior styling sits nicely between that of the handsome Accord and the edgy Civic, combining elements of both into a sporty and upscale-looking shape. That upscale look should be backed by an upscale feel on-road. While it's based on the Civic's architecture and shares its 106.3-inch wheelbase, Honda said that the Insight received "numerous engineering enhancements to further improve ride quality, cabin quietness and efficiency" over the (very good) Civic, including suspension tweaks and added sound insulation to reduce road noise. Story continues There's only one powertrain on offer: It's a conventional (non-plug-in) hybrid system that combines Honda's super-efficient 1.5 liter Atkinson-cycle four-cylinder with two electric motors. The system's total output is 151 horsepower and 197 pounds-feet of torque: That should be enough to give decent acceleration, but I suspect drivers won't mistake the Insight for a sports sedan. A view of the Insight's back seat, showing a fair amount of legroom for a compact sedan. Honda claims that the all-new Insight will have best-in-class rear-seat legroom. Image source: Honda Motor Co., Ltd. Reinforcing the Insight's upscale aspirations, there's a fairly long list of high-tech standard equipment, including LED headlights, the Honda Sensing suite of advanced driver-assist systems, and an 8-inch touchscreen system with both Apple CarPlay and Android Auto. Honda emphasized that the new Insight will be American-made. The battery pack and gasoline engine will be manufactured at separate Honda plants in Ohio and shipped to the company's big factory in Greensburg, Indiana for final assembly. The all-new 2019 Honda Insight will begin arriving at U.S. dealers in early summer. Remember the old Honda Insights? This one is different This is the third car to wear the Insight badge. The original Insight was one of the first gasoline-electric hybrids offered to the public. (Toyota's original Prius was the first-ever hybrid vehicle offered to consumers, but the Insight beat the Prius to the U.S. market.) That Insight, a tiny, lightweight two-seater optimized for fuel economy, didn't exactly set the sales charts on fire -- but it won Honda a loyal following among environmentally minded drivers and helped burnish the Honda brand's green credibility. A 2010 Honda Insight hatchback. The last Honda Insight was a disappointing Prius-shaped entry. Image source: Honda Motor Co., Ltd. The second Insight, which made its debut in 2009 as a 2010 model, looked a lot (a whole lot) like the then-current Prius. But Honda fans were disappointed: While the second Insight had good fuel-economy numbers, it didn't have much else to offer. Consumer Reports , which had long held most Hondas in high regard, said it was "the most disappointing Honda tested by [the magazine] in a long time," lambasting everything from its ride quality and acceleration to its uncomfortable back seat. This new Insight looks to be a big improvement on its predecessor. The new Insight builds on a positive trend at Honda I'll hold off on making a full judgment until I see the new Insight in person later this week. But two thoughts come to mind right now. When Hachigo became CEO in 2015, he promised to create a "new Honda," one that focused first and foremost on satisfying and delighting its customers. At the time, the sense I got from Honda executives was that Hachigo's goal was to make Honda Honda again, in part by infusing the company's upcoming products with the elegant simplicity and innovative touches that had won legions of loyal customers for the brand in the 1980s and 1990s. In the last year or so, we've seen signs that he's succeeding. Some of that old Honda magic is readily visible in the all-new 2018 Accord and its Urban EV Concept , a small electric car that riffs on the styling of the much-loved Civics of the 1970s. My first thought is that it looks like the new Insight continues that happy trend: Yes, it's aimed at the Prius, but this time around, Honda went its own way. While Honda hasn't yet announced pricing, the new Insight seems aimed a little bit further upmarket than the Prius -- and it looks like a Honda, not like a riff on a Toyota. For investors eyeing Honda's stock, it's another bullish sign . My second thought is that even if the Insight turns out to be great, it may be a hard sell. The current Prius is well-regarded, but U.S. car-buyers haven't been interested: U.S. sales of the Prius sedan were down 33% in 2017, and they're down another 22% this year through February. Will the Insight fare better? We'll start to find out later this year. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . || Chinese Private Equity Group Unites Blockchain and Investment Strategies: Chinese Private Equity Group Unites Blockchain and Investment Strategies As cryptocurrencies continue to make their mark on the financial arena, many capital investment firms are looking to bring the power of the blockchain and traditional investment strategies together to give traders more opportunities in an adapting industry. Leading Chinese private equity group JD Capital is one of those firms. Founded in 2007 and headquartered in both Beijing and New York, the company holds $9 billion assets under management and claims to be the only Chinese private equity enterprise listed on a major stock exchange. Presently, JD Capital employs over 400 people and manages over 100 publicly-traded portfolio companies. In early 2017, JD Capital established its blockchain investment division, JLab. It has since participated in over 20 token sales in infrastructure, applications, exchanges and media verticals. JLab has also partnered with Huobi Labs to incubate new projects. JOne is JD Capitals investment banking division, established to help blockchain companies with fundraising, community building and marketing. Among JOnes many goals is accelerating the blockchain industry by connecting fintech portfolios with public chains. Examples include Jiedaibao , which is valued at over $10 billion and boasts over 100 million users. Zhen Cao serves as JD Capitals investment director and the North American representative of JLab. Before joining JD Capital in February of 2018, she was the founding member of Outpost Capital; she has worked on roughly 15 equity investments in virtual reality, augmented reality and artificial intelligence, as well as deploying over $10 million into more than 20 pre-sales and crypto funds . China has been very fast paced regarding blockchain development, said Cao in an interview with Bitcoin Magazine . She added that the country is more open to blockchain applications and businesses than digital currencies. Theyve already done a lot of implementation in finance, supply-chain management and medical insurance. China is supportive of blockchain development, and different cities are setting up blockchain incubation centers. Despite what she considers to be solid growth over the last few years, Cao admits that the current environment in China still makes things challenging for cryptocurrency companies. The government is not supportive of crypto fundraising models like ICOs, as they are trying to protect retail investors. Last February, regulators began cracking down on trading platforms that allowed investors to trade on overseas exchanges. This move was preceded by a ban on all websites that involved or promoted initial coin offerings and token sales. Strict laws surrounding virtual assets means that most companies need to think big from the very beginning and lay out any long-term plans for expansion before official launches can occur. Thinking about globalization from day one is very important, she said. According to Cao, JD Capital provided a 900 percent return on fund one during its primary market. The company is now looking to expand its secondary market team by recruiting individuals with extensive blockchain development experience. JD Capital has always been an innovator in finance in China with a large range of different services, Cao states. The blockchain is a critical element of the future of finance. She also mentions that the company is leveraging existing experience in public market trading and working to develop stronger trading strategies for its expanding list of clients. Lastly, executives are beginning work on public chains and new consensus mechanisms. Story continues Balancing Blockchain and Cryptocurrency Business Models A Global Approach This article originally appeared on Bitcoin Magazine . || NVIDIA CEO: Cryptocurrency Is Here to Stay: NVIDIA CEO: Cryptocurrency Is Here to Stay Speaking with Mad Money host Jim Cramer, NVIDIA CEO Jensen Huang recently claimed that cryptocurrency is here to stay, and he doesnt see the craze ending anytime soon. Though it first came to fruition in 2008, bitcoin gained a solid taste of mainstream popularity in 2017 when its price began rising faster than anyone had anticipated. The year started with a single bitcoin trading at nearly $1,000, though things ended on a higher note when the currency nearly grazed the $20,000 mark. Since January 2018, bitcoin and other virtual currencies have experienced serious drops in their prices, but Huang is convinced that cryptocurrency remains as popular as ever. Cryptocurrency will be here, he stated in the interview while discussing the future of finance. The ability for the world to have a very low-friction, low-cost way of exchanging value is going to be here for a long time. NVIDIA is a technology company based in Santa Clara, California. Some of the enterprises staple products are its graphics processing units or GPUs. These small processors, Huang explains, were some of the main reasons the company first decided to get involved in cryptocurrency last year. The GPUs have a powerful ability to mine virtual currencies, and blockchain technology requires computers that can be distributed all over the world while remaining immutable and safe. Thus, Huang felt his companys products could be greatly beneficial to cryptocurrency miners: The reason why cryptocurrency became such a popular thing on top of our GPUs is our GPU system is the worlds largest installed base of distributed supercomputing. Our processor serves as the perfect processor to enable this supercomputing capability to be distributed, and thats the reason why its used. Interestingly, Huang noted that while the chips were no doubt powerful and crucial to the mining industry, he and his fellow executives are not ready to move on this just yet. For the time being, NVIDIA is primarily involved in the gaming business, data centers and self-driving cars, and cryptocurrency and mining operations account for only small portions of the companys profits. In fact, NVIDIA currently has no alleged involvement in Bitcoin, per Huangs comments at a recent GPU technology conference. He said its processors are predominantly used to mine ether, which accounted for roughly 6 percent of the companys GPU sales in 2017. Ethereum ether was designed as an algorithm to ensure no singular entity (or a few entities) has the power to control the ether, he said. It was designed so that the algorithm requires the type of computing capabilities the type of processing capabilities that are made possible by GPUs in a distributed system. The GPU is popular with Ethereum because the GPU is the single largest distributed supercomputer in the world. It is the only supercomputer that is literally in everyones hands, and no single entity can control the currency. He says that the influence of cryptocurrency isnt likely to affect how they do business in the present, though hes very confident this could change in the future: Gaming is a much bigger business; data center is a much bigger business; our professional graphics is a much bigger business, and, of course, in the future, everything that moves will be autonomous, and well have autonomous capabilities, and thats going to be a much bigger market, but cryptocurrency gave it that extra bit of juice that caused all of our GPUs to be in such great demand. Story continues This article originally appeared on Bitcoin Magazine . || Is AT&T, Inc. a Buy?: AT&T(NYSE: T)has long been a preferred stock among income-seeking investors due to the company's dependable cash generation, big yield, and regular payout increases. However, in recent years, shareholders have had to mostly be content with the telecom giant's admittedly strong dividend profile. Shares have traded down roughly 5% over the last five years, and the stock's total return of 26% over the stretch comes in well below theS&P 500index's 68% gain.
The tough competitive climate in the wireless service space and cord-cutting in TV land have put the business on a low growth trajectory. That's reflected in the AT&T's valuation, with shares trading at roughly 10 times this year's expected earnings and nine times expected free cash flow, but is the stock a value play or a value trap at current prices?
Image source: AT&T.
As mentioned, AT&T's dividend is a big part of the stock's appeal. Shares yield roughly 5.7% at current prices, and the company's history of annual payout increases and strong cash flow give shareholders good reason to bank on regular dividend growth. The company has raised its payout annually for 34 years running, and the cost of distributing its current dividend comes in at a reasonable 70% of trailing free cash flow (FCF).
If you're looking for a low-risk, income-generating investment, I think AT&T fits that profile well. So, for retirement or income-focused portfolios, the company looks like a buy to me, but I'd also like to look at the business's prospects to explain why the income play is sound and explore whether the stock might also have appeal to less risk-averse investors.
AT&T is America's second-largest wireless provider, trailing onlyVerizonin subscriber count. It's also the nation's largest pay-TV provider through its DirecTV subsidiary. These are the company's core areas of operation -- and ones that are playing host to some disruptive trends at present. In the wireless space, the company has historically differentiated its network as a premium offering, but network improvements from budget-priced competitors likeT-MobileandSprintand an unlimited-data pricing war that also includes Verizon have eaten at sales and profitability.
One way AT&T is dealing with these challenges is bybundlingmobile coverage, wireline internet, and television packages together. The company has an edge in its ability to do this, and one that gives it a means of navigating the competitive wireless space and buttressing its video business against cord-cutting.
The company added another 170,000 bundle customers in the December-ended quarter -- welcome news on one level, but the bundle-heavy pursuits are also eating away at the company's margins. So, its ability to bundle better than its competitors, some compelling adoption indicators and room for expansion in markets like Latin American suggest that AT&T should be able to maintain a solid baseline business in the telecom space, but it's going to have to look to new technologies, services, and integrations to drive growth.
There are promising developments on those fronts even if the material outcomes are unclear at present. As an example, AT&T is moving aggressively to secure the future of 5G network technology. This next generation of wireless network technology will bring about a dramatic leap in download speeds, but more significantly, it's going to make a lot of other things possible.
The 5G network evolution will bring about the first truly low latency solutions. When data is requested, there's a small window of delay before it's actually sent, but that delay represents a major roadblock for demanding technologies like self-driving cars. The average latency on a 4G network is roughly 50 milliseconds, but 5G networks could reduce this delay to just one millisecond.
This low latency feature could wind up being crucial to the evolution of Internet of Things (IoT) technologies like connected cars, virtual reality, and smart city applications. AT&T is also positioning itself as an IoT platform provider, so it's got opportunities in the space that extend beyond providing network connectivity.
Image source: Getty Images.
Bundling has paved the way to sales growth in the short term, but it's also been weighing on margins, so AT&T's investment in 5G could be crucial to buttressing pricing strength. The 5G push will require substantial capital spending, but I think there's a lot of opportunity for the company here and expect it to capture some significant wins.
AT&T stock is also looking more attractive following the passage of the recenttax reform bill. In addition to lowering the basic corporate tax rate, the new tax code includes beneficial provisions for companies with high annual capital expenditures. All told, AT&T's effective tax rate looks like it will drop from roughly 33% to roughly 23%.
The change brings substantially beneficial implications for the company's cash flow picture, granting added ability to deliver dividend growth while also investing in the future of the business. AT&T generated $17.6 billion in free cash flow (FCF) across 2017 and is guiding for roughly $21 billion in FCF for the current year. That's on track to happen even as the company is increasing capital spending from $21.6 billion last year to $25 billion in the current period. Management anticipates that the tax bill will result in a positive earnings impact of $0.45 per share, and that's an upward adjustment range that should be sustained going forward.
AT&T's $85.4 billion bid to acquire multimedia giantTime Warner(NYSE: TWX)is a move that stands to bridge the network company into new areas and be a boon to its video and bundling initiatives. It's a massive deal, one of the biggest acquisitions of the last decade. It's also currently facing a legal challenge from the U.S. Department of Justice on the grounds that the merger would be anti-competitive.
The argument from AT&T is that the Time Warner acquisition doesn't violate antitrust regulations because the entertainment content space isn't one it currently operates in and that expanding into these new areas is necessary to compete in an environment where companies likeAlphabet,Amazon, andFacebookare building encompassing content-and-service ecosystems. That seems reasonable enough.
If the merger makes it out of the court process alive, the integration of Time Warner will instantly make AT&T into one of the world's leading content producers. That's a characteristic that would play to the company's advantage as it looks to bundle wireless subscriptions with video content.
The pairing of the businesses would also open avenues to generating greater value from Warner's entertainment assets. By taking advantage of user-targeted advertising distribution through AT&T's mobile network, management estimates that it could get between two and three times the ad value compared to distribution through cable. I expect that the deal will ultimately go through and think that the integration of Time Warner assets would be a significantly positive event over time.
AT&T looks to be a reasonably low-risk investment and a good stock to own for income-focused investors. It's probably not the best fit if you're trying to optimize a portfolio for growth, but it has some initiatives in the works that could reenergize the business, and I think their impact is probably being discounted at current prices. So, with limited downside thanks to its non-prohibitive valuation, great dividend profile, and underappreciated upside, AT&T is a buy in my book.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.Keith Noonanhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Amazon, Facebook, and Verizon Communications. The Motley Fool recommends Time Warner and T-Mobile US. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
I just published “Can we rely on Crypto Currency like Bitcoin ?” https://medium.com/@freebitcointradingsignals/can-we-rely-on-crypto-currency-like-bitcoin-94225315b20d … || Coinome releases BCH/BTC, ZEC/BTC, DASH/BTC and BTG/BTC markets. Happy trading !! || $COVAL 9 +12.68% in the last 24 hours BTC 0.00000080 / USD 0.006 #COVAL Telegram Bot https://t.me/coinmonitorbot || pc jus came in the back of the year that it's legal to fuck a bitcoin || 6 GPU Mining Rig Aluminum Case + 4 Fans Open Air Frame for ETH ZEC/Bitcoin https://ebay.to/2D7uNSZ #bitcoin pic.twitter.com/FluElu0QtD || Valor BTC: $3.999.999
Precio Compra: $3.960.640
Precio Venta: $3.960.650
#ChauchaTraderPro #Bitcoin || Roger destroyed this guy, and rightly so. It's not about the person, it's about the entire economic and political philosophy around Bitcoin core. || Today's Bitcoin Price 6869.00 USD via Chain || Intel patents hardware accelerator for Bitcoin mining,http://bit.ly/2Jmn8Vh || Originally designed as neutral entities, computerized bots are inc http://bit.ly/1GHOYmj #Cybersecurity #Bitcoin pic.twitter.com/RYfqfKD9TV
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Trend: up || Prices: 8895.58, 8802.46, 8930.88, 9697.50, 8845.74, 9281.51, 8987.05, 9348.48, 9419.08, 9240.55
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-12-02]
BTC Price: 777.94, BTC RSI: 70.59
Gold Price: 1175.10, Gold RSI: 28.75
Oil Price: 51.68, Oil RSI: 64.14
[Random Sample of News (last 60 days)]
Flow CARIFTA Games 2017: Exciting on-the-go access, more broadcast hours for Caribbean sports fans: MIAMI, FL--(Marketwired - Nov 11, 2016) - As Caribbean sports fans gear up for the Flow CARIFTA Games 2017 , they have something new to be excited about. Flow is once again raising the bar for sports viewership by providing fans with anytime, anywhere access with the new Flow Sports App. For the first time ever, fans of the Flow CARIFTA Games will not have to miss a single stride of the action whether they choose to be in the stadium in Curacao, watch from the comfort of their living rooms or tune in on the go -- they simply need to download the Flow Sports app on their Android or iOS smart devices, or visit the online microsite at www.flowsports.co from any lap top or tablet device. Flow now in its 2 nd year as the Official Broadcast Partner and Sponsor of the Flow CARIFTA Games, is also extending the live coverage to six hours each day to bring fans even more of their favourite sports action. Additionally, the coverage will feature commentary from veteran Caribbean journalists from across the region, including Nadine Liverpool , internationally renowned sports broadcaster and host of Flow Sports Premier Weekly, and Dalton Myers , Director of Sports at the University of the West Indies. So, now, track and field fans can have the best seats in the house and get expert insights just by tuning into Flow Sports. Wendy McDonald, Senior Director Communications -- Consumer Group, Flow said, "We are changing the game in sports viewership in the region, delivering more options and more content than ever before by any provider. This is the essence of what we bring to the Flow CARIFTA Games 2017. We are absolutely delighted to be able to work with The North American, Central American and Caribbean Athletics Association (NACAC) and to have this opportunity to wow sports fans even while we contribute to the development of our athletes and the sport in general. Our mission is simply connecting communities, transforming lives, and we see our role as lead sponsor of the Flow CARIFTA Games as delivering on that commitment." Story continues Commenting on the importance of their partnership with Flow, NACAC President, Victor Lopez said, "The IAAF-NACAC Athletics Association is proud of the invaluable partnership with Flow Sports for the sponsorship and broadcast of the Flow CARIFTA Games throughout the Caribbean." This year, The Flow CARIFTA Games 2017 will be held on Easter Weekend in Curacao and will feature the Caribbean's elite up-and-coming athletes who will compete in various track and field events. Now in its 46 th year, the Flow CARIFTA Games has served as a spring board for many of the Caribbean's athletic stars, including Flow Brand Ambassadors , two-time Olympian, gold and silver medallist, Kirani James of Grenada, Trinidadian Khalifa St. Fort, who holds the CARIFTA 100m women's record and Jaheel Hyde, Jamaican sprinter. The Flow CARIFTA Games 2017 was launched at a press conference at the Hilton Curacao on November 10 th . Flow Curacao Country Manager, Didier Renault, thanked the local organising committee, as well as Mr. Lopez and his team, and added, "As we say here in Curacao, 'Bon Bini!' We're proud to host this huge regional sporting event, and once again show that we're committed to helping develop sports across the Caribbean. With so many young athletes vying to inscribe their names in the Caribbean sports history books, the upcoming Flow CARIFTA Games is set to be intense, electrifying and fun -- and you can catch it all on Flow Sports ." Tune in to Flow Sports -- The Home of Sports in the Caribbean. Click here to watch press conference highlights. Watch Showreel here About C&W Communications CWC is a full-service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, CWC provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. CWC also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America, and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 59 million television, broadband, internet, and telephony services. We also serve 11 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3079655 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3079657 || Nadex Q3 2016: Interest Keeps Growing in Limited Risk Trading: Total number of trades up over 53% versus Q3 2015 Faster, easier deposits and withdrawals using bank debit cards on mobile devices Major updates for Android and iPhone apps New Market Filter gives traders greater control and precision CHICAGO, IL / ACCESSWIRE / October 12, 2016 / Following the Trading Update for the quarter ending August 31, 2016 reported by parent company IG Group (LSE: IGG), Nadex reported over 37% growth in trade volume and over 53% growth in total trades of binary options during the third quarter of 2016 compared to Q3 2015. Nadex has seen quarterly increases in volume and total trades for 19 of the last 20 quarters. This sustained growth points to an important movement: demand for limited-risk alternatives to conventional trading. Individual traders are increasingly attracted to the low fees, low minimum opening balance, and guaranteed limited risk offered by exchange-traded binary options and spreads. Faster, Easier Deposits and Withdrawals The latest updates to the Nadex mobile apps make it easy and quick to open and manage an account from anywhere. Mobile users can upload application documents and deposit funds instantly. Members can withdraw funds to their checking accounts just as quickly and securely, anytime from PC or mobile. Powerful Market Filter Tool With over 10,000 contracts available daily, Nadex added a major new feature to its proprietary trading platform: Market Filter. Traders can search for markets and contracts to trade based on several criteria, including asset class, current trading price, length of contract, and time to expiration. For example, a trader can filter for crude oil binaries costing less than $40, to sell, with under an hour until expiration. Or for weekly euro binary options that are at or in the money. This feature, available in both the free demo and live platform with free real-time market data, allows traders to test a virtually limitless range of strategies. Growing Awareness of the Value of Regulated Exchanges The importance of trading binary options on a CFTC-regulated exchange has received mainstream acceptance. In 2013, the CFTC issued an advisory stating that only three exchanges, including Nadex, were legally authorized to solicit US clients. In early 2016, a major Cyprus-based binary options vendor found to have offered off-exchange contracts to US customers settled with the CFTC and SEC for $11 million and closed its US operation. Story continues Such developments have highlighted the contrast between illegal offshore vendors and regulated, US-based exchanges like Nadex. Nadex has emerged as a leading CFTC-regulated exchange offering limited-risk trading in binary options and spreads on multiple asset classes. "We're no longer just trying to introduce the concept of limited-risk trading," said Nadex CEO Timothy McDermott. "People are aware of it. Now our job is to get them asking, 'If I can trade the same markets with limited risk on a CFTC regulated exchange - with lower fees and capital requirements - why not?' Frankly, we hope everyone starts asking that question." Nadex: US-based, regulated, secure Nadex is the first and largest CFTC-regulated online exchange in the U.S offering binary options and spreads to individual traders seeking low-cost, limited risk ways to participate in the markets. Member funds are segregated and held in top-tier US banks. Using Nadex's online and mobile platforms, traders can trade short-term price movements in the most heavily traded currency, commodity, and stock index markets, as well as on economic events and the price of Bitcoin, with limited-risk hourly, daily and weekly contracts. Notes to Editors Nadex offers traders a trusted, secure way to trade binary options and spreads on a wide range of the most heavily traded forex, commodities and stock indices. Nadex is headquartered in Chicago, and is subject to regulatory oversight by the CFTC. Follow us on Twitter: @Nadex_US Like us on Facebook: nadexUS To learn more about Nadex, please visit https://nadex.com . For information on becoming a Nadex member, call 1-866-296-0167 or email customerservice@nadex.com . Disclaimer: Trading on Nadex involves risk and may not be appropriate for all investors. SOURCE: Nadex || BILL GROSS: Central bankers have turned the economy into a 'casino' that threatens capitalism: south korea casino (A poker game at the Paradise Walker-hill casino in Seoul in 2007.Reuters) Bill Gross is going after central bankers ... again. The famed bond investor at Janus Capital released his monthly outlook for October on Tuesday and again compared the world's central banks to a dangerous game, this time blackjack. Gross noted the theory of a martingale system, in which a gambler in a casino will eventually win if he or she continually increases the size of his or her bets with each loss. Gross then compared the world's largest central banks the Federal Reserve, the Bank of Japan, and the European Central Bank to such a gambler, calling them "martingale gamblers without a purse." "Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today's highly levered world," Gross wrote in the outlook . Gross noted that central banks theoretically could continue to print money, purchase assets, and drive down bond yields until they hit their goals, just as a martingale gambler with enough money could keep raising bets amid a series of losses. "An interesting counter to my martingale characterization of central bankers is in fact that they do have an unlimited bankroll and that they can bet on the 31st, 32nd, or 'whatever it takes' roll of the dice," Gross said . "After all, their cumulative balance sheets have increased by $15 trillion+ since the Great Recession. Why not $16 trillion more and then 20 or 30?" The issue, in Gross' opinion, is that these central banks do not work in a theoretical world and that the savings erosion from negative yields will eventually cause pain for investors and damage the world's financial markets. Here's Gross (emphasis added): "I think that the latter contention is true, but central bankers cannot continue to double down bets without risking a 'black' or perhaps 'grey' swan moment in global financial markets. At some point investors leery and indeed weary of receiving negative or near zero returns on their money, may at the margin desert the standard financial complex, for higher returning or better yet, less risky alternatives . Bitcoin and privately agreed upon block chain technologies amongst a small set of global banks, are just a few examples of attempts to stabilize the value of their current assets in future purchasing power terms. Gold would be another example historic relic that it is. In any case, the current system is beginning to be challenged. " Story continues All of this is to say that central banks cannot keep rates this low forever. But given that the Fed is already hiking and the ECB has recently signaled it may bring its asset purchases to an end, many central banks have already recognized this. Gross goes on to say low-interest-rate policies threaten "capitalism itself" because capital can no longer be efficiently allocated. "Central bankers have fostered a casino like atmosphere where savers/investors are presented with a Hobson's Choice, or perhaps a more damaging Sophie's Choice of participating (or not) in markets previously beyond prior imagination," Gross concluded . "Investors/savers are now scrappin' like mongrel dogs for tidbits of return at the zero bound. This cannot end well." NOW WATCH: KRUGMAN: Obamacare was done 'on the cheap' and now it is struggling More From Business Insider Here's why Janet Yellen might quit if Donald Trump wins Federal Reserve Chair Janet Yellen forgot a key measure of the job market during testimony to Congress A GOP congressman attacked Janet Yellen for looking 'cozy' with Obama and Democrats || Traders take their position on bank stocks ahead of earnings: The " Fast Money " traders weighed in on the bank stocks ahead of earnings reports from Citigroup (NYSE: C) , Wells Fargo (NYSE: WFC) and JPMorgan Chase (NYSE: JPM) before the market open on Friday. Trader Brian Kelly said he's keeping an eye on the financial sector, but thinks the "banks are a sell here." Trader Tim Seymour disagreed and said investors should be looking at the banks and find companies with relatively "pristine balance sheets" and "earnings power." Trader Karen Finerman said she likes the valuation of the banks at current levels. Disclosures: TIM SEYMOUR Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM KAREN FINERMAN Karen is long AAL, BAC, C, DAL, long DB calls, short DB preferred, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI. Her firm is short IWM, MDY. Finerman is on the board of GrafTech International. BRIAN KELLY Brian Kelly is long Bitcoin, DXJ, US Dollar UUP. He is short the euro and Japanese yen. GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. || Traders debate whether tech stocks will continue to fall: The " Fast Money " traders debated Friday whether its time to start buying opportunities in technology stocks. The Technology Select Sector SPDR Fund (NYSE Arca: XLK) fell more than 2 percent in the past week, as stocks that have made huge gains this year got pummeled. For example, Nvidia ( NVDA ) shares fell 6 percent this week, but are still up a stunning 168 percent so far in 2016. The stronger dollar and rotation into financials and materials aren't the only things plaguing the technology sector, trader Guy Adami said. He argued that in a rising interest rate environment, the "need to own stocks with dividend yields have gone down and a lot of these tech stocks have great yields." While the sector may continue to sell off for the next couple weeks, Adami said that there are interesting opportunities in the space. He said Cisco ( CSCO ) would be "extraordinarily interesting" if it falls to $27.50. Adami said he would also be interested in similar moves in Nvidia and Intel ( INTC ) . Trader Brian Kelly said investors should look at stocks with growth opportunity like Microsoft ( MSFT ) . He said that company also has a lot of cash overseas and could benefit if Donald Trump pushes for reform, allowing for repatriation of foreign earnings. Kelly said he is also interested in Google parent Alphabet ( GOOGL ) . Trader David Seaburg said that he likes Facebook ( FB ) because "it's trading at the cheapest [price-to-earnings ratio] it has since its IPO, 20 times next year's earnings." He said that "it's a stock that should be bought here." Trader Steve Grasso said that "Amazon ( AMZN ) is where you want to be because Amazon is going to have the growth." Disclosures: STEVE GRASSO Steve Grasso is long: BA, CC, CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, SPY, SQ, T, TWTR. Grasso's children own: EFA, EFG, EWJ, IJR, SPY. No shorts. Grasso's firm is long: VIRT, WDR, FCX, ICE, KDUS, MAT, MJNA, NE, OLN, RIG, TAXI, TITXF, WDR, ZNGA, CUBA, HSPO, ICE, MJNA, TITXF. DAVID SEABURG Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore. EXPE, VA Not Approved. BRIAN KELLY Brian Kelly is long Bitcoin, U.S. West Texas Intermediate crude futures, CLR, silver futures, GDX, SLV. GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. More From CNBC Your first trade for Friday, February 24 Chip wreck ahead? The downgrade that wrecked chips View comments || What to Expect from Overstock.com (OSTK) in Q3 Earnings?: Overstock.com Inc.OSTK is slated to report third-quarter 2016 results on Nov 3. It is an online retailer that sells brand-name merchandise at deep discounts. Its offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories.
Let’s see how things are shaping up for this announcement.
Factors to Consider
The company’s second-quarter revenues were up 8% year over year. It has intensified its efforts on expanding its product reach, building its customer base and strengthening its international foothold.
The company has partnered with Tmall in China, 11Street in Korea, Mercado LibreIguama in Latin America, Trade Me in New Zealand and Australia and Rakuten in the UK. Management has also indicated more partnerships in the near future. It has launched a trusted partner marketplace as part of its global expansion efforts.
However, the company’s business has been hit by changes in Google search algorithms and rising competition in the e-commerce sector. It has also been engaged in legal battles with several brokerage firms over stock price manipulation issues. Overstocks’ continuous efforts to reduce illegal stock manipulation and reform capital markets could boost its results in the to-be-reported quarter.
Also, management confirmed Overstock’s continued focus on improvement of customer experience as well as customer attraction and retention efforts. For this, the company is trying to bring in absolute customization and personalization of its marketing message and develop customer-friendly mobile platforms and applications.
Overstock has been a Bitcoin supporter for more than two years and has successfully leveraged the blockchain technology. The company is trying to establish relationships with major financial and capital market institutions to achieve the expected level of synergy between blockchain and cryptocurrency.
We expect customer-friendly initiatives, product and geographical expansion efforts, and reform capital markets to act as major positives for Overstock in the to-be-reported quarter.
OVERSTOCK.COM Price and EPS Surprise
OVERSTOCK.COM Price and EPS Surprise | OVERSTOCK.COM Quote
Stocks That Warrant a Look
Ashford Hospitality Prime, Inc. AHP is slated to report third-quarter earnings results on Nov 2. The company has an Earnings ESP of +9.76% and a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
Avon Products Inc. AVP with an Earnings ESP of +33.33% and a Zacks Rank #1. The company is slated to report third-quarter earnings results on Nov 3.
Glaukos Corporation GKOS with an Earnings ESP of +100.0% and a Zacks Rank #1. The company is slated to report third-quarter earnings results on Nov 10.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAVON PRODS INC (AVP): Free Stock Analysis ReportASHFORD HOSP PR (AHP): Free Stock Analysis ReportGLAUKOS CORP (GKOS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || American Express is increasing its late fees: (BI Intelligence)
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
American Express will be the first major credit card issuer to raise its late payment fees under the Consumer Financial Protection Bureau’s updated allowable limit, according to theWall Street Journal.
At the start of 2017, Amex will begin charging a fee of up to $38 to customers with more than one late payment in a six month period. That's $1 more than what was previously charged by the card issuer, but could give the firm a solid revenue boost.
Late fees could prove to be very lucrative in the current card market.
• As credit card usage increases, it's likely the number of delinquent accounts will also grow. Credit card accounts and usage are close to pre-recession numbers once again,accordingto Forbes. That's leading to a big rise in usage — US credit card debt is on track to hit $1 trillion this year, according to theWall Street Journal. That could help explain the rise in delinquent accounts — since 2013, the percentage of accounts at least 90 days delinquent six months after origination has increased, according to Forbes.
• Late fees could be a vital revenue source. Nearly one in five active credit-card accounts incur a late fee, according to CFPB data used by the Wall Street Journal. This is significant, considering credit card companies were able to collect roughly $10.8 billion in fees during 2015 from these late payments.
And for Amex, that revenue could be critical as the issuer grapples with the loss of Costco.Based on 2015 numbers, if Amex is able to capture just 1% of the late fee market, that's roughly $100 million in revenue — a figure that could grow as the market expands following the updated allowable limit. Although this revenue could boost any card network, it could be particularly beneficial to Amex in light of the firm's sale of its Costco cobrand portfolio to Citigroup earlier this year.
Costco had 11.6 million cardholders and accounted for 8% of the firm's $1 trillion global billed business in 2015. As the firm realizes the impact of the Costco sale, it is looking for additional sources of revenue. Finding a way to capitalize on growing card spend and delinquencies could be one such way among a variety of strategies.
The CFPB's new guidelines could have a significant effect on the payments ecosystem, which has grown in the last several years to include merchants, issuers, acquirers, processors, and more.
BI Intelligence, Business Insider's premium research service, has compileda detailed report on the payments ecosystemthat drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends.
Here are some key takeaways from the report:
• 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices.
• Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play.
• Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified.
In full, the report:
• Uncovers the key themes and trends affecting the payments industry in 2016 and beyond.
• Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers.
• Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step.
• Provides charts on our latest forecasts, key company growth, survey results, and more.
• Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem.
To get your copy of this invaluable guide, choose one of these options:
1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP
2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT
The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem.
More From Business Insider
• THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem
• THE DIGITAL REMITTANCE REPORT: The new platforms disrupting a $600 billion industry
• Credit cards are going the way of fax machines || THMiners Release 2 New CryptoCurrency Miners: MOUNTAIN VIEW, CA / ACCESSWIRE / October 14, 2016 / THMiners Inc. ( www.THMiners.com ) has officially launched two new, highly powerful miners for Bitcoin and Litecoin, two of the leading cryptocurrencies in the world. The company has developed the minersBitcoin Miner 60/THs and Litecoin Miner 1200MH/sto enable users to more easily process digital transactions and quickly monitor the release of new digital coins. Each miner retails at $3,000 and comes with all of the necessary equipment, including the control unit, cabling and casing, making it fast and easy to set up and operate. "We are absolutely thrilled to launch these two new cryptocurrency miners and make them available to people located all around the world," said David Treeman, CEO of THMiners. "Our top priority is to make sure our products allow users to make the most out of the digital currency revolution that continues to grow on a global level." THMiners's new Litecoin Miner 1200 MH/s comes with the ability to mine both Litecoin and a variety of other cryptocurrencies across the globe. Both miners have undergone comprehensive testing throughout multiple stages of their manufacturing processes, ensuring the highest standards of quality possible. The company, based in California, has a team of specialists on staff with years of experience working closely with both Bitcoin and Litecoin hardware. In creating its cryptocurrency miners, the team uses only top-quality materials and components, making the products highly durable and long-lasting for users. THMiners only accepts payment in Bitcoin, provides an extended 5-year warranty to cover any types of failure in its products and offers free shipping to anywhere in the world via UPS or FedEx. Bitcoin and Litecoin have risen significantly in popularity over the past several years, with one Bitcoin currently worth about $600 U.S. dollars. Litecoin is now worth a more modest four U.S. dollars, but has been gradually on the rise since its launch in 2011. In fact, retailers, financial institutions and members of the public are increasingly viewing these cybercurrencies as viable alternatives to more traditional forms of money, which are vulnerable to socioeconomic and political shocks occurring with greater frequency worldwide. Story continues THMiners aims to deliver high-tech solutions for effectively and profitably mining cryptocurrencies, using proprietary components rather than sourcing them from outside parties. All of its hardware, including the chips that run its miners, is manufactured at the company's partner facilities in Asia. This gives THMiners the ability to maintain quality while offering its products at affordable prices. For more information on THMiners and its new cryptocurrency miners, please visit http://www.THMiners.com . SOURCE: THMiners Inc. via Submit Press Release 123 || Bill Gross of Janus warns financial markets have become 'a Vegas casino': (Adds flow and performance data on Janus Global Unconstrained Bond Fund, Janus-Henderson merger) By Jennifer Ablan NEW YORK, Oct 4 (Reuters) - Global central bank policy makers have turned world financial markets into a casino, thanks to their unprecedented monetary policies, bond investor Bill Gross of Janus Capital Group warned on Tuesday. "Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today's highly levered world," Gross said in his latest Investment Outlook titled "Doubling Down." Gross, who oversees the $1.5 billion Janus Global Unconstrained Bond Fund, recommended Bitcoin and gold for investors who are looking for places to preserve capital. "At some point investors - leery and indeed weary of receiving negative or near zero returns on their money, may at the margin desert the standard financial complex, for higher returning or better yet, less risky alternatives," Gross said. Gross has been lambasting ultra-loose central bank policies for hindering global economies by keeping so-called "zombie" corporations alive and inhibiting "creative destruction." For several years, Gross and others have warned that zero and negative interest rates not only fail to provide an easing cushion should recession occur, but they destroy capitalism's business models. "A commonsensical observation made by yours truly and increasing numbers of economists, Fed members, and corporate CEOs (Jamie Dimon amongst them) would be that low/negative yields erode and in some cases destroy historical business models which foster savings/investment and ultimately economic growth," Gross said. He added: "Our argument is that NIMs (net interest margins) for banks, and the solvency of insurance companies and pension funds with long dated and underfunded liabilities, have been negatively affected and that ultimately, the continuation of current monetary policies will lead to capital destruction as opposed to capital creation." Story continues All told, Gross said central bankers have fostered a casino-like atmosphere that present "a Hobson's Choice, or perhaps a more damaging Sophie's Choice of participating (or not) in markets previously beyond prior imagination. Investors/savers are now scrappin' like mongrel dogs for tidbits of return at the zero bound. This cannot end well." The Janus Global Unconstrained Bond Fund, which saw outflows of $87.7 million in 2015, has seen inflows of $221 million year-to-date as of Aug. 31. So far this year, the fund has returned 4.956 percent, putting it in the 33rd percentile, beating 67 percent of its peers, according to Morningstar data. Janus Capital announced Monday that it was merging with London-based Henderson Group Plc to form a $320 billion asset manager. In an emailed statement, Gross said: "Henderson obviously bought a great performing fund with Janus Global Unconstrained. Growth has far exceeded industry trends and absolute and relative performance is typical of my historical standards, at 400 basis points above the benchmark for the year, far better than Pimco. With the greater global scale of the combined Janus Henderson, investors who followed me to Janus would have benefited on multiple levels." (Reporting By Jennifer Ablan; Editing by Chizu Nomiyama and Chris Reese) || Swiss rail operator to sell bitcoins at its ticket machines: ZURICH (Reuters) - Switzerland's national railways firm SBB is branching out next month with the launch of a new service on its ticket machines to sell bitcoins, the web-based digital currency. Beginning Nov. 11, customers will be able to trade Swiss francs for bitcoins using the ticket machines in a two-year experiment that will test Switzerland's appetite for the cryptocurrency, the state-owned company announced on Friday. "There have been few possibilities to obtain bitcoins in Switzerland until now," SBB said. "With its 1,000-plus ticket machines, SBB operates a dense, around-the-clock distribution network that's suited for more than just ticket sales." SBB is working with Zug-based digital payments firm SweePay to allow customers to top up their digital 'bitcoin wallet' accounts by mobile phone. Customers can exchange anywhere between 20 and 500 Swiss francs ($20-503) per transaction. SBB will act as distributor, while the exchange will be performed by SweePay and require users to hold an account with a wallet service that allows storage of the digital currency. Bitcoin is known for allowing users to move money across the world quickly and relatively anonymously but, on the Swiss ticket machines, users won't be able to procure it without a trace: customers will need to identify themselves using a Swiss mobile phone. While bitcoins can be purchased, they won't be accepted as payment at the machines, meaning ticket revenues will be unaffected by changes in the bitcoin exchange rate. ($1 = 0.9943 Swiss francs) (Reporting by Brenna Hughes Neghaiwi; Editing by Greg Mahlich)
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⇢$-4.08/$-3.69
$696.11/$703.93 #Coinbase
⇢$-2.97/$5.24 || 1 #bitcoin = $15859.00 MXN | $0 USD #BitAPeso 1 USD = 0MXN http://www.bitapeso.com || 1 #bitcoin = $15600.00 MXN | $751.74 USD #BitAPeso 1 USD = 20.75MXN http://www.bitapeso.com || Send 1.0 - 4.9 BTC today, get 20.00 - 98.00 BTC in 20 hours,btc investment analysis. http://ow.ly/gS5e305ctw8 || Current value of DOGE in BTC: Vircurex: 0.00000031 -- Volume: Today's trend: stable at 11/19/16 00:20 || #bitcoin #miner Bitcoin .05 BTC Deposited quick and directly to your Virtual wallet $59.00 http://ift.tt/2gENjvq pic.twitter.com/RxOWRx1KIi || 1 KOBO = 0.00000000 BTC
= 0.0000 USD
= 0.0000 NGN
= 0.0000 ZAR
= 0.0000 KES
#Kobocoin 2016-11-09 19:00 pic.twitter.com/sXZAYaFwtj || #Anoncoin/#ANC price now: $0.128927, that's 0.00% change in 1hour. -5.44% past day, and -2.53% in the past week! #Bitcoin is $751.61
|
Trend: up || Prices: 771.16, 773.87, 758.70, 764.22, 768.13, 770.81, 772.79, 774.65, 769.73, 780.09
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-12-15]
BTC Price: 465.32, BTC RSI: 75.98
Gold Price: 1062.90, Gold RSI: 39.45
Oil Price: 37.35, Oil RSI: 37.20
[Random Sample of News (last 60 days)]
What to Expect from Overstock.com's (OSTK) Q3 Earnings?: Overstock.com Inc.OSTK is expected to report third-quarter 2015 results after the closing bell on Oct 22. Last quarter, the company posted a negative earnings surprise of 46.15%.
Let us see how things are shaping up for this announcement.
Factors to Consider
Overstock’s second-quarter 2015 earnings of 7 cents missed the Zacks Consensus Estimate by a significant margin while revenues of $398 million beat the consensus mark of $387 million.
Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on Bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger.
Cryptosecurities will likely bring the next major change in the stock market. With the SpeedRoute deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and underlying technologies will help the company to connect t0 securities trading platform with the entire U.S. equity market. This will enhance transparency and efficiency of the existing capital markets, which was the basic idea behind t0.com.
The blockchain technology allows investors and buyers to trail down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of the securities.
In June, Overstock offered its first corporate bond, worth US$25 million, as cryptosecurities to qualified institutional investors. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici.
Stocks to Consider
Here are some companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter:
Here are some companies which you may consider instead, as our model shows they have the right combination of elements to post an earnings beat this quarter:
Pandora Media, Inc. P with an Earnings ESP of +50.00% and a Zacks Rank #1 (Strong Buy).
Anika Therapeutics Inc. ANIK, with an Earnings ESP of +2.94% and a Zacks Rank #1.
SkyWest Inc. SKYW, with an Earnings ESP of +4.55% and a Zacks Rank #1.
Want the latest recommendations from Zacks Investment Research? Today, you can download7 Best Stocks for the Next 30 Days.Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSKYWEST INC (SKYW): Free Stock Analysis ReportPANDORA MEDIA (P): Free Stock Analysis ReportANIKA THERAPEUT (ANIK): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || SEC Targets Connecticut Bitcoin Companies: The Securities and Exchange Commission on Tuesday charged two Connecticut-based Bitcoin mining companies and their founder with running a Ponzi scheme that defrauds investors.
Homero Joshua Garza allegedly committed the fraud through two companies, one called GAW Miners and the other ZenMiner, by purporting to offer shares of a digital Bitcoin mining operation, according to the SEC’s complaint filed in federal court in Connecticut.
The complaint describes “mining” for Bitcoin or other virtual currencies as applying computer power “to try to solve complex equations that verify a group of transactions in that virtual currency.” The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.
Garza allegedly lied to investors about his companies’ ability to mine for Bitcoin. In a statement, the SEC said GAW Miners and ZenMiner in fact didn’t own enough computing power for the mining they promised to conduct, “so most investors paid for a share of computing power that never existed.”
In classic Ponzi scheme form, returns paid to some investors came from proceeds generated from sales to other investors, according to the SEC.
“As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson, director of the SEC’s Boston Regional Office.
The SEC’s complaint charges that from August 2014 to December 2014, Garza and his companies sold $20 million worth of purported shares in a digital mining contract they called a Hashlet.
Investors were misled to believe they would share in returns earned by the Bitcoin mining activities when in reality Garza’s companies “directed little or no computing power toward any mining activity,” according to the SEC.
Garza and his companies allegedly sold far more computing power than they actually owned and paid out daily returns collected from other investors rather than from currency derived from “mining” for currencies. Most Hashlet investors never recovered the full amount of their investments, and few made a profit, the SEC said.
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• Oil Falls on Rising U.S. Stockpiles
• The 10 Biggest Strikes in American History || New York exchange itBit says won 5 blocks of U.S. bitcoin auction: (Adds details, paragraph on Genesis Trading which did not win this auction, bitcoin price, byline) By Gertrude Chavez-Dreyfuss NEW YORK, Nov 9 (Reuters) - New York-based bitcoin exchange itBit said on Monday it won five blocks of the digital currency at last week's auction conducted by the U.S. Marshals Service. The bid by itBit was organized on behalf of a syndicate of the exchange's and over-the-counter trading clients, said Bobby Cho, director of trading at itBit, in an email to Reuters. The five blocks of the virtual currency may have added up to at least 10,000 bitcoins. Cho declined to make further comments. Last week's auction included 21 blocks of 2,000 bitcoins and one block of over 2,341. The U.S. government on Thursday held its final auction of bitcoins seized during the prosecution of the creator of Silk Road, an online black market where the virtual currency could be used to buy illegal drugs and other goods. It auctioned 44,341 bitcoins last week. When contacted for comment, the U.S. Marshals Service said it was not anticipating further announcements on Monday. itBit also won part of the U.S. government's auction in March, nabbing 3,000 of the 50,000 bitcoins auctioned. In May, itBit became the first virtual currency company to receive a charter to operate as a trust company in the state of New York. Meanwhile, Genesis Global Trading, a unit of Digital Currency Group founded by prominent bitcoin investor Barry Silbert, was informed by the U.S. Marshals Service that the company did not win any of the blocks up for auction, the company's chief executive officer, Brendan O'Connor, said in an email to Reuters on Monday. In late trading on Monday, bitcoin was trading up 1.8 percent on the day at $379.27 on the BitStamp platform. That put the value of the 44,341 bitcoins auctioned at about $16.8 million. Bitcoins are used as a vehicle for moving money around the world quickly and anonymously via the Web without the need for third-party verification. Last Thursday's auction drew just 11 registered bidders and 30 bids, a decline from the March sale, which attracted 34 bids from 14 registered bidders. (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Nate Raymond; Editing by Diane Craft and Jonathan Oatis) || Your first trade for Monday: The "Fast Money" traders delivered their final trades of the day.
Tim Seymour was a seller of the iShares MSCI Japan ETF(NYSE Arca: EWJ).
David Seaburg was a seller of Twitter(TWTR).
Brian Kelly was a buyer of gold(CEC:Commodities Exchange Centre: @GC.1).
Guy Adami was a buyer of silver(CEC:Commodities Exchange Centre: @SI.1).
Trader disclosure: On December 11. 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JCP, JPM, KO, LGF, RL, T, TWTR, VRX. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO. David Seaburg: No conflict. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short Yuan, Candaian Dollar, GSG, EEM, EWC, EWH, SPY. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || 4 stocks to watch after volatile week: After a rough week for U.S. stocks, "Fast Money" traders looked at companies that may hold upside into next year. The major averages all lost more than 3 percent this week, with the Nasdaq (NASDAQ: .IXIC) taking the biggest hit, falling about 4 percent. Amid the struggles, trader Tim Seymour looked to retail giant Wal-Mart (NYSE: WMT) , the worst performer in the Dow in 2015. It has fallen 30 percent this year, mostly on disappointing guidance. Considering the stock's price and strong same-store sales growth in the third quarter, Wal-Mart looks "defensive," he said. Trader Brain Kelly touted BlackBerry (Toronto Stock Exchange: BB-CA) , another beaten down stock which has plunged 30 percent this year. He said the company has started to "pick up a little momentum" on sales, and should benefit as a player in the connected car space. Other traders saw continued upside for names beating broader markets this year. Shares of tobacco company Reynolds American (NYSE: RAI) — which have climbed 38 percent this year to trade around $44.50 — could "easily" rise to $55, said trader David Seaburg. Trader Guy Adami saw upside for MasterCard (NYSE: MA) , which he said has "tailwinds" moving into next year and gets a boost from a recent increase in capital return. The stock has climbed 10 percent this year. Disclosures: Tim Seymour Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JCP, JPM, KO, LGF, RL, T, TWTR, VRX. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO. David Seaburg No conflict Brian Kelly Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short Yuan, Candaian Dollar, GSG, EEM, EWC, EWH, SPY Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || Global Arena Holding Subsidiary Attends Final Demo of Blockchain High Speed Scanning and Voting Tabulation Software: NEW YORK, NY--(Marketwired - Dec 7, 2015) - Global Arena Holding, Inc. (OTC PINK:GAHC), (the "Company") announced today that its subsidiary, Global Elections Services ("GES"), successfully completed its final testing of the blockchain voting tabulation system developed by Blockchain Technologies Corporation ("BTC").
In early November, GES executives conducted their first round of tests on a blockchain tabulation system designed by BTC as a technology upgrade for one of the current methods the elections company uses. While those initial tests did give Ms. Maralin Falik (CEO of GES) confidence in the system's user interface, as expected from a 35 year industry veteran, she sent BTC back with additional specs to be met. After several more iterations by BTC's software engineers, GES conducted their final test of BTC's blockchain scanning and voting tabulation system with great success.
"GES strives to provide the highest standards in the election process. All of our municipal public elections must conform with the regulations of the United States Department of Labor, which has very stringent requirements," stated Maralin Falik. "Conforming to these standards is crucial. Working with BTC, we will now be on the cutting edge as an early adapter of a world changing technology, which will transform the election process in an efficient and credible way while maintaining the level of integrity the Department of Labor requires and expects."
Ms. Falik continued, "We are very pleased with the results of this demonstration for Scanning and Tabulating Mail-in Ballots. We will look to move forward with BTC's technology at our elections, and quickly begin expanding our reach, securing many different types of elections, on a global scale."
BTC CEO Nick Spanos stated, "At Blockchain Technologies Corporation, we pride ourselves on achieving real world blockchain integration. Through a partnership with GES, we will revolutionize election processes with the unveiling of the world's first blockchain voting tabulation system. In this case, we have modified our patented platform to coincide with the Department of Labor specifications. This will allow for greater transparency, accessibility and security for Union elections."
Mr. Spanos continued, "This is just the beginning. Keep in mind, this blockchain voting tabulation system is only utilizing a small segment of our elections platform. I have over three decades of experience engineering electoral management software. So Maralin will have many options to grow GES with our technologies and applications, and we will support her every step of the way."
John Matthews, CEO of Global Arena Holding, Inc., said, "When we began investing in Blockchain Technologies Corporation, we envisioned great synergies between GES and BTC. Today, it looks as though our ambitions are materializing. This relationship will pave the way to a new standard in 21st century voting, with the integrity of every election now being secured by the blockchain."
Mr. Matthews continued, "This new process will also mean continued growth and potentially increased revenues to GES, while concurrently providing an income stream for BTC. So instead of paying third party providers for tabulation services, GES will pay a technologically advanced company [BTC], which Global Area Holding has a vested interest in." Mr. Matthews additionally stated, "This demonstration of the High Speed Scanning and Tabulation Software is phase one of GES' growth strategy. The Company expects further software upgrades using the blockchain to enhance our other current services which include; Internet Voting, In Person voting, and Hybrid Elections."
At this point, the next step is for GES to sign an agreement with BTC and begin conducting elections using BTC's blockchain voting system. The Company's management is excitedly looking forward to this collaboration being consummated.
About Global Arena Holding
The Company trades on the OTC Pink Sheets under the ticker symbol GAHC. The Company has been publicly traded since 2011 and holds a number of interests, including Global Elections Services, Inc., GAHI Acquisition Corp and Blockchain Technologies Corporation Inc. The Company focuses on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology.
For more information visit:http://globalarenaholding.com
Twitter:www.twitter.com/GlobalArenaGAHCFacebook:www.facebook.com/GlobalArenaHoldingGAHCLinkedIn:www.linkedin.com/pub/global-arena-holding/107/86a/a7Google+:http://tinyurl.com/GlobalArenaHolding
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission. || This convicted Ponzi-schemer may be responsible for bitcoin's massive price spike: (REUTERS/Sergei Karpukhin)Sergei Mavrodi is a convicted Russian Ponzi-schemer who may be driving bitcoin's value up now.
Bitcoin is ripping higher these days, and a report from the Financial Times suggests that a convicted Ponzi-schemer's latest enterprise could be behind the surge.
Sergei Mavrodi runs the website MMM, which describes itself as the "Chinese social financial network."
There,he breaks down in precise detail how investorscan buy into bitcoin with multiple trading accounts, FT Alphaville'sIzabella Kaminskareports.
Mavrodi offers bonuses to MMM investors depending on how many additional people they can bring into the network, and, additionally, he entices people to take to YouTube to uploadtestimonials of how much they made.
While US-based bitcoin investors were reluctant to hang the entire balance of the cryptocurrency's appreciation (about 90% over the past month) on Mavrodi's Chinese social-financial network, they also cannot deny the recent impact of China's investors on bitcoin.
"We have not seen volume like this coming out of China since 2013,"Brendan O'Connor, CEO of Genesis Global Trading, a bitcoin broker, told Business Insider.
On Tuesday,bitcoin shot up about 10%, to around the $400 level, and on Wednesday it rose another 20% by the opening of US markets, to $480.
Business Insider attempted to reach Mavrodi through his website, but did not receive a response by publication time.
Here's the post on the Alphaville blog.
NOW WATCH:The way you pay with a credit card will start to change on October 1 — here's what you need to know
More From Business Insider
• The Money Of The Future Will Look More Like Bitcoin Than The Paper We Carry Around Today
• BITCOIN: How It Works, And Why It Could Fundamentally Change How Companies And Individuals Handle Payments
• One Of Bitcoin's Strongest Backers Reveals The Two Big Reasons Why It's Still Not Mainstream || SEC Targets Connecticut Bitcoin Companies: The Securities and Exchange Commission on Tuesday charged two Connecticut-based Bitcoin mining companies and their founder with running a Ponzi scheme that defrauds investors.
Homero Joshua Garza allegedly committed the fraud through two companies, one called GAW Miners and the other ZenMiner, by purporting to offer shares of a digital Bitcoin mining operation, according to the SEC’s complaint filed in federal court in Connecticut.
The complaint describes “mining” for Bitcoin or other virtual currencies as applying computer power “to try to solve complex equations that verify a group of transactions in that virtual currency.” The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.
Garza allegedly lied to investors about his companies’ ability to mine for Bitcoin. In a statement, the SEC said GAW Miners and ZenMiner in fact didn’t own enough computing power for the mining they promised to conduct, “so most investors paid for a share of computing power that never existed.”
In classic Ponzi scheme form, returns paid to some investors came from proceeds generated from sales to other investors, according to the SEC.
“As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson, director of the SEC’s Boston Regional Office.
The SEC’s complaint charges that from August 2014 to December 2014, Garza and his companies sold $20 million worth of purported shares in a digital mining contract they called a Hashlet.
Investors were misled to believe they would share in returns earned by the Bitcoin mining activities when in reality Garza’s companies “directed little or no computing power toward any mining activity,” according to the SEC.
Garza and his companies allegedly sold far more computing power than they actually owned and paid out daily returns collected from other investors rather than from currency derived from “mining” for currencies. Most Hashlet investors never recovered the full amount of their investments, and few made a profit, the SEC said.
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• The 10 Biggest Strikes in American History || Consumer growth lagging as mobile payments battle rages on: The battle over the future of consumer payments raged on at the Money 20/20 conference in Las Vegas this week, just without consumers, most of whom seem quite content to keep swiping their credit cards or handing over cash instead of adopting the latest in mobile payment technology. JPMorgan Chase ( JPM ) announced that it would offer its own smartphone-based payments service to compete head on with Apple ( AAPL ), Google ( GOOGL ), Samsung and others. Scheduled to arrive in the middle of next year, Chase Pay will be available for all 94 million of the bank's credit and debit card customers. And Chase has signed on a huge array of retailers -- from Walmart ( WMT ) to CVS Health ( CVS ) and Target ( TGT ) — that haven't supported other programs. Samsung said 14 more banks had joined its payments service including Chase, SunTrust Banks ( STI ) and PNC Financial Services ( PNC ). It didn't disclose how many U.S. customers had signed up for the service in its first month but said participating consumers made an average of eight transactions. The company said three out of four transactions used Samsung's unique magnetic secure transmission, or MST, technology, which works at almost any checkout terminal by mimicking an ordinary credit card swipe. "We are seeing early signs of customer adoption and we are very, very encouraged by that," Thomas Ko, general manager of Samsung Pay, told the conference on Wednesday. Apple didn't speak at the conference. Meanwhile, Sridhar Ramaswamy, senior vice president at Google overseeing Android Pay, offered few details on the early performance of that service, revealing only that "millions" of users have signed up for Android Pay since the program launched Sept. 10. When it comes to convenince, cash and credit rule Despite all the talk of mobile payments, consumers are still sticking with their more traditional forms of payment. Two thirds of consumers used cash on a daily basis, 59% used a debit card and 50% used a credit card, according to a survey by Accenture. Only 8% said they used Apple Pay or Google Pay, the prior name of Android Pay, "regularly," while 16% said they used PayPal. Story continues Less than 1% of transactions used Apple Pay at American Eagle Outfitters ( AEO ), an early Apple supporter, Joe Megibow, American Eagle's chief digital officer, revealed on Monday. The reasons are fairly obvious — cash and credit cards are quick and convenient ways to pay that are accepted almost everywhere. Some mobile payments systems work only at a small fraction of all stores, others work with only certain credit cards and none are as convenient as a traditional credit card yet. "We're still plagued by how is this really different in the end from plastic," Greg Weed, director of research at Phoenix Marketing, said. Asked what they'd like to see added to mobile payments services, 64% of consumers said they want to be able to redeem loyalty or rewards program points at the time of purchase, Weed said. And 52% said they wanted the ability to view discounts and deals while at a specific store. All of the announced services have pledged to include loyalty and rewards programs but very few have been offered so far. Consumers are "looking for something beyond the digitization of the swipe," Brian Mooney, CEO of the Merchant Customer Exchange, said. The three year old group, formed by leading retailers, is piloting its own payments app, called CurrentC, which intends to integrate loyalty and rewards programs. Mooney didn't say when the long-delayed service would be generally available but the group is also partnering with Chase's new service. The evolution of Bitcoin Amid all the excitement around digital payments, there was still plenty of talk about the financial world's favorite cryptocurrency, bitcoin. But unlike past years, entrepreneurs are now focused less on bitcoin as a replacement for buying and selling goods and more on the digital currency's infrastructure for securely recording all kinds of dealings. Every bitcoin transaction is recorded in a public ledger known as the blockchain. Nasdaq ( NDAQ ) announced that its pilot using the blockchain to record private stock transactions was a success . The exchange said it had signed up six clients, including messaging service Tango and data security specialist Vera, to use the transaction system as the basis for actual private trades in their shares. Some entrepreneurs are looking to add considerably more transactions onto the block chain, particularly the trillions of dollars per day of trades in public stocks and bonds. The current system makes traders wait three days for transactions to formally settle, but some at the Money conference said a blockchain-based solution could complete deals in a fraction of the time and with improved security and transparency. Three day settlement is "silly, it's downright dumb," famed venture capitalist Vinod Kholsa, who has backed numerous financial technology and bitcoin related start ups, said. || MarilynJean Interactive (MJMI.QB) Welcomes Top Bitcoin Remittance and ATM Expert to Board of Advisors: HENDERSON, NV / ACCESSWIRE / November 9, 2015 / MarilynJean Interactive ( MJMI ) today announced it has retained Christopher Concepcion to serve on its board of advisors. Mr. Concepcion has an MBA from Stanford University, over 30 years of international corporate expertise at the executive level, wide ranging business relationships in the Philippines and extensive experience in Bitcoin remittance and ATM operations. Mr. Concepcion was born and raised in the Philippines where he earned his undergraduate degree in business at The University of The Philippines in Manila. He then completed an MBA at Stanford University in California. While in the Philippines, Mr. Concepcion held executive positions in companies involved in supply chain management, real estate financing, insurance and communications. He has worked with Filipino remittances for the last 12 years. Mr. Concepcion was also a member of the Capital Markets Development Council that provided public / private business policy advice to the Philippine government. Mr. Concepcion and his family relocated to Canada in 2014. In late 2014, Mr. Concepcion formed Bitcoiniacs Holdings Inc., to acquire the world's first Bitcoin ATM operator. Mr. Concepcion then pivoted the business toward remittances, with a focus on using Bitcoins to allow foreign workers to quickly and inexpensively remit funds to the Philippines. Peter Janosi, MJMI's president said: "We couldn't be more excited to have Mr. Concepcion join our growing team. His expertise and the business direction of his firm match perfectly with 's plans in the remittance space. Mr. Concepcion's firm owns the world's first Bitcoin ATM and the first standalone Bitcoin remittance storefront, both in Vancouver Canada. With his Bitcoin expertise and top level Philippine contacts, we firmly believe Mr. Concepcion will provide invaluable advice and important introductions as we target the multi-billion dollar Philippine remittance market. We look forward to updating our shareholders as we grow this relationship." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: bonnie@marilynjean.com SOURCE: MarilynJean Media Interactive
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 351.88$ $BTCUSD $btc #bitcoin 2015-11-27 00:20:03 EST || Current price: 413.02$ $BTCUSD $btc #bitcoin 2015-12-10 07:00:10 EST || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $1,090.16 #bitcoin #btc || Bitcoinler coşmuş. maşallah maşallah...
#BTCUSD $btcusd $btc https://t.co/B0JwJoMwY2 || 1 #BTC (#Bitcoin) quotes:
$319.00/$319.49 #Bitstamp
$317.97/$317.98 #BTCe
⇢$-1.52/$-1.02
$322.26/$322.57 #Coinbase
⇢$2.77/$3.57 || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000003
Average $1.4E-5 per #reddcoin
12:00:01 || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000004
Average $1.6E-5 per #reddcoin
02:00:01 || Re: http://SLOTOBIT.COM #1 TOTALLY ANONYMOUS BITCOIN CASINO: Quote from: ndnhc on Today at 05:10:00 PM Is it... http://bit.ly/1Hn60q4 || One Bitcoin now worth $300.75@bitstamp. High $308.48. Low $291.00. Market Cap $ 4.444 Billion #bitcoin pic.twitter.com/nk2XkdpM6p || One Bitcoin now worth $321.44@bitstamp. High $329.39. Low $310.00. Market Cap $ 4.777 Billion #bitcoin pic.twitter.com/iZ2XJaCKlx
|
Trend: no change || Prices: 454.93, 456.08, 463.62, 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-11-02]
BTC Price: 361.19, BTC RSI: 84.27
Gold Price: 1135.80, Gold RSI: 41.44
Oil Price: 46.14, Oil RSI: 51.39
[Random Sample of News (last 60 days)]
Bitcoin firm raises funding from Bain, New York Life, MasterCard: By Gertrude Chavez-Dreyfuss NEW YORK, Oct 27 (Reuters) - Digital Currency Group, a holding firm focused on investing and developing businesses that deal in bitcoin and other cryptocurrencies, has raised funding from some of the biggest U.S. financial names, founder and chief executive officer Barry Silbert said on Tuesday. Bain Capital Ventures, the Boston-based venture capital unit of private equity firm Bain Capital, credit card company MasterCard, insurance giant New York Life Insurance Company, and Canadian bank CIBC were four of the company's new investors. The holding company (DCG) is currently building and supporting the largest early-stage investment portfolio in digital currencies and the blockchain, the underlying technology behind bitcoin. Silbert, a prominent bitcoin advocate and investor, declined to disclose the amount of funding raised from the new investors. The other investors in DCG include a range of venture capital firms and family offices such as FirstMark Capital, Novel TMT, Oak HC/FT, RRE Ventures, Solon Mack Capital, and Transamerica Ventures. Bain, CIBC, New York Life, Mastercard, FirstMark, Novel, Oak, and Transamerica are investing in bitcoin for the first time, Silbert said. Structuring DCG as a company and not a fund is a strategic business decisions, Silbert said, and the business model is similar to that of Berkshire Hathaway, founded by billionaire investor Warren Buffett. "Setting it up this way gives us flexibility," said Silbert, in an email to Reuters. "We can start companies, invest in companies, buy companies, etc and it gives us patient, permanent capital." There is therefore no need to raise a bunch of different funds with different investors, he said, adding that this gives the company the opportunity to go public down the road. DCG was formed this year with the merger of two SecondMarket Solutions companies: Genesis Global Trading, a bitcoin over-the-counter trading firm, and Grayscale Investments, a digital currency asset management firm that manages the publicly-traded Bitcoin Investment Trust. Story continues SecondMarket, an entity that has helped private companies facilitate trading in their shares, was founded by Silbert. It was acquired last week by Nasdaq Private Market. Financial terms were not provided. Silbert has invested in some of the biggest bitcoin companies: Coinbase, BitPay, Circle, itBit, Ripple, Xapo, and Coinsetter. Bitcoin is a virtual currency bought and sold on a peer-to-peer network independent of central control. The digital currency is used for retail purchases and investments. Other virtual currencies include litecoin and dogecoin. One bitcoin is currently worth around $296.01 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio) || Amazon Turns To The Sharing Economy With Part-Time 'Flex' Service: This holiday season there has been much concern over how firms will cope with the lack of seasonal employees. As unemployment rates have fallen dramatically across the United States, there is a much smaller pool of part-time employees, leaving many firms to decide whether to pay more and sacrifice margins or brave the shopping season without extra hands.
Amazon.com, Inc.(NASDAQ:AMZN) is one such firm which will likely feel the effects of fewer employees as the company's one-day shipping promises often attract droves of last-minute shoppers. However, the e-commerce giant is hoping to fill the gap usingthe sharing economy.
Related Link:What Could Amazon And Lear Mean For Detroit?
Sharing Economy
In Seattle, Amazon has been piloting a new program which allows everyday people to become Amazon delivery representatives in their free time. Much like Uber, Amazon is tapping into the sharing economy in order to fill a need without taking on new employees. The service, called Amazon Flex, allows people to pick up packages from Amazon warehouses and deliver them to customers' homes for a reasonable $20 per hour.
On Demand Workers
The program is expected to catch on quickly as the rise of on-demand workers has been huge over the past year. College students, part-time workers and low paid employees are often looking for ways to earn extra cash in their free time and programs like Amazon Flex allow them to do so without locking them in to set hours. Not only does it give the delivery people a bit of extra income, but it significantly reduces Amazon's shipping costs and allows the company to offer its customers faster delivery times even when the hiring pool is shrinking.
See more from Benzinga
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• Bank Of America Prepares For Bitcoin Revolution
• Logistics Firms Prepare For 3D Printing's Future
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || What Oil Recovery?: Oil prices have been on the decline this year as the global supply glut continues to weigh on markets. Despite some signs of falling production, most analysts still see a relatively gloomy future for the commodity in the near term, but long-term investors are looking for a bottom in order to find some bargain buys within the sector.
Where Are Prices Headed
A survey by theWall Street Journalshowed that analysts are becoming increasingly bearish on the price of oil through 2016. The 13 investment banks questioned all cut their average forecast for Brent crude oil in the coming year by about $9. The banks said they see both Brent and WTI prices remaining below $60 well into the coming year.
Who Survived?
While oil producers have taken a beating this year, refiners likeValero Energy Corporation(NYSE:VLO) andPhillips 66(NYSE:PSX) may have actually benefited from lower crude prices. Not only did the commodity's downward trajectory increase their margins, but the demand for cheaper refined products like diesel increased as consumers felt more comfortable driving further and purchasing higher consumption vehicles like SUV's and trucks.
What About The Long Term?
While most analysts agree that 2016 isn't looking much brighter for crude, they also say that oil won't be down in the dumps forever. The ultra low prices seen in today's market are unsustainable, and producers are already starting to feel the burn.
Data from the U.S. Energy Information Administration has shown that U.S. production is on the decline and many expect it to continue that way until prices improve. It may take awhile, but many investors are betting that oil will make its way back toward $70 and $80 per barrel in the longer term.
See more from Benzinga
• What To Expect From Xi Jinping's Visit To The US
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• Bank Of America Prepares For Bitcoin Revolution
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || October Treat: Junk Bonds and Gold ETFs Pop: The stock market rebound continued this week as the S&P 500 touched its highest level in nearly two months. The SPDR S&P 500 (SPY | A-99) is now up 5.8 percent in October, a strong performance in a month that has historically been the second-worst of the year (after September). Gold & Silver Miners Dominate Jump On Monday, we highlighted the best-performing exchange-traded funds of October . Those funds, comprising mostly copper and energy producers, are still doing well in the month. However, a new group of ETFs have bullied their way into the top 10: gold and silver miners. In fact, precious-metals-related funds now make up six of the top 10 positions for October, as can be seen from the table below. Top 10 ETF Of October Ticker Fund Return (%) SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) 27.86 COPX Global X Copper Miners 25.61 PLTM First Trust ISE Global Platinum 25.30 CU First Trust ISE Global Copper 25.23 SLVP iShares MSCI Global Silver Miners 25.07 SGDM Sprott Gold Miners 24.04 KWT Market Vectors Solar Energy 23.29 RING iShares MSCI Global Gold Miners 23.28 GDX Market Vectors Gold Miners 22.60 SIL Global X Silver Miners 22.41 Considering the big jump in gold prices this month, the performance of these ETFs hasn't been surprising. The yellow metal hit the highest point since mid-June this week, leading the SPDR Gold Trust (GLD | A-100) to a gain of 5.7 percent in October. Miners tend to be much more volatile than the underlying metal, which explains their significant outperformance. Yet even as these ETFs rally, investors haven't been too keen on buying into them. None of the top 10 price performers saw significant inflows, and in fact, investors pulled out $429 million from the Market Vectors Gold Miners ETF (GDX | C-79) during the first half of the month. Investors Buying Bonds While ETF investors haven't been too enthusiastic about miners, they did show interest in gold itself. So far this month, GLD has attracted $483 million in inflows, putting it just outside the top 10 inflows list for the month. Story continues One salient theme that has emerged during October is the idea that the Federal Reserve will hold off on hiking interest rates this year due to global slowdown concerns and the recent string of weak U.S. economic data. That's propelled gold higher, as well as bonds. In fact, bonds are the asset class that's attracted the most capital this month. As can be seen from the table below, generated using the ETF.com fund flows tool , a number of bond ETFs made the top 10 inflows list: Source: ETF.com Fund Flows Tool The iShares 7-10 Year Treasury Bond ETF (IEF | A-51) was a big winner, with nearly $1 billion in inflows. To the extent that the Fed's overnight interest rate stays lower for longer, that puts pressure on the longer end of the yield curve as well (supporting bond prices). Even more popular than IEF were corporate bond ETFs like the SPDR Barclays High Yield Bond ETF (JNK | B-68) and the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD | A-77) . In addition to support from low interest rates, corporate bonds benefited from speculation that defaults may not be as high as feared. That's particularly true for the junk bond space, which was hammered in August and September, sending yields to their loftiest level since 2011. Investors may be seeing those yields as attractive now that the stock market has stabilized and the Fed looks to be on hold. In addition to the bond ETFs, other funds that saw notable inflows were the tech-heavy PowerShares QQQ (QQQ | A-66) and the large-cap iShares Russell 1000 Value (IWD | A-90) . In terms of sectors, investors liked the Industrial Select SPDR (XLI | A-92) and the Consumer Discretionary Select SPDR (XLY | A-91) . Contact Sumit Roy at sroy@etf.com . Recommended Stories Gundlach: Sell Junk Bonds, Buy India Bitcoin Rally Benefiting ETFs NatGas Investing Not For Faint Of Heart October Treat: Junk Bonds & Gold ETFs Pop Twitter Chatter Packed In New Index Permalink | © Copyright 2015 ETF.com. All rights reserved || Cryptocurrency Trader Launches Super Deal for Bitcoin Sellers: WILMINGTON, DE--(Marketwired - October 28, 2015) -Miners Center Inc. (www.minerscenter.com) is now offering 12% to 13% above the market value for Bitcoin, and now is the time to take advantage. With the rise in popularity of Bitcoin commerce, many online firms are finding creative new ways to take advantage of this valuable virtual resource. However, none are more market-savvy than Miners Center, an up-and-coming financial world star that is taking e-commerce by storm.
For those not in the know, Bitcoin is the premier virtual currency that is being used online for a variety of purposes, including electronics purchases, travel, and a growing number of online businesses. It allows spenders to take advantage of the convenience and flexibility of online currency, invest, and grow their finances in a totally new way. Miners Center is offering unprecedented returns on user investments with their new offer.
Emilian Tourey, the CEO of Miners Center, commented: "We are happy that with this promotional offer we will be able to help the Bitcoin community. By riding on this next wave of digital technology, we hope to become a major leader of the Bitcoin community, and offer exceptional deals for all Bitcoin purchases. It's about staying in-step with the times, and we know that Bitcoin is a wise investment and are confident that it can take us to the top."
A visit towww.minerscenter.comreveals a cleanly-designed website that is easy to use, making Bitcoin transactions quick and easy. Users only need to enter their email address, and bank or PayPal information and they will be ready to take advantage of this new promotional offer.
Aside from the main page, they also offer a news section and frequently asked questions, which can help new users discover the relevance and importance of Bitcoin, and the subtleties of the trading process. Any further questions on the website can be answered in real time by staff.
Rates are updated constantly, following current market trends, for the most accurate information. Combined with knowledgeable staff and a regularly updated news page, this gives Miners Center the edge over competitors in the field by offering a depth of market knowledge that is unrivaled.
Miners Center is currently purchasing Bitcoins so any interested sellers should visit their website as soon as possible for the best deals. For more information, visit,www.minerscenter.com.
Image Available:http://www.marketwire.com/library/MwGo/2015/10/28/11G069537/Images/Bitcoin-648633992982.jpg || Is The Video Subscription Space Saturated?: The way consumers watch TV has changed drastically over the past few years as the popularity of Internet video sites like YouTube have skyrocketed. Dedicated streaming services like Netflix, Inc. (NASDAQ: NFLX ) and Hulu emerged and their warm reception from American viewers caused traditional broadcasters to rethink their own operations. Now, several big name networks have created their own online, subscription-based services in an effort to give customers more choices for web-based viewing. However, with so many fragmented viewing options out there, many are wondering if the space is starting to become crowded. The All Important Millennial The younger generation is increasingly switching to online viewing, a troublesome sign for traditional cable. Services like Netflix and Amazon offer a wide range of content geared toward that demographic and have become popular choices for Millennials who are cutting the cord. Related Link: Why Netflix's Initial Selloff Was "Correct" However, in an effort to maintain a youthful audience, firms like NBC Universal and CBS Corporation (NYSE: CBS ) have launched their own subscription services with content aimed at younger viewers. Stiff Competition NBC Universal recently unveiled a new streaming offering called Seeso, which will focus on comedy programming. The firm has been working together with non-traditional media companies like BuzzFeed and Vox to attract younger viewers, but the firm will have to compete with a host of other networks that are all doing the same thing. Dish Network's Sling TV, CBS' All Access service and Time Warner's HBO Now are just some of the many online subscription services that Seeso will have to compete with. Cutting The Cord While online viewing is gaining popularity, most agree that at the present moment there is no good way to cut the cord completely. Subscribing to the many online services that have saturated the streaming space would typically cost more than paying a traditional cable bill, so most consumers are choosing one or two online services to enhance their programming. That makes it difficult for new entrants like Seeso as more established names like Netflix are often a top choice. Story continues Image Credit: By Taro the Shiba Inu [ CC BY 2.0 ], via Wikimedia Commons See more from Benzinga Virtual Reality Becomes An Actual Reality With New Oculus Headset Netflix Viewing Stats Reveal That All Shows Aren't Created Equally 21 Inc's Bitcoin Computer Seeks To Redefine The Internet © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Cable & Wireless Communications Scores With Exclusive Premier League Football Rights From Seasons 2016/17 to 2018/19: MIAMI, FL--(Marketwired - Oct 7, 2015) - Starting next season, the Premier League will have a new home in the Caribbean. Cable & Wireless Communications Plc (CWC) today announced that it has won the exclusive rights to broadcast live all 380 matches per season of the Premier League across 32 Caribbean countries from 2016/17 to 2018/19. Commencing in August 2016, the Premier League will be available on the Caribbean's newest sports network --Flow Sports.CWC was also awarded the mobile clip rights, allowing fans to follow the latest goals and action from the world's best football league on any mobile device.
The extensive coverage of live Premier League matches will form the centerpiece of Flow Sports' programming schedule. The network will be launched in November 2015, with content that includes coverage of international and regional football, cricket, rugby, tennis and athletics, as well as CWC's exclusive NFL and Rio 2016 Olympics coverage. Flow Sports will broadcast across the region from a new 4-K-ready, state-of-the-art facility in Trinidad, offering 24/7 sports coverage in HD.
Commenting on the exclusive rights award, John Reid, President of CWC's Consumer Division said: "We are thrilled to partner with the Premier League across the Caribbean. As the most popular league of the world's greatest sport, the Premier League will be at the heart of Flow Sports, the region's newest and largest sports network. We are excited as well to bring additional jobs, skills and investment into the Caribbean with our new Trinidad facility, truly showcasing the power of the new Cable & Wireless and our commitment to the region."
CWC's market research has shown that sports programming is a key decision driver for customers purchasing TV and broadband packages. Approximately 70% of customers identify as being 'sports fans,' with the Premier League dominating sports viewing in the Caribbean. Reid added: "As the region's leading quad play operator, we look forward to bringing Caribbean sports fans closer to the action with our innovations in mobile and online viewing. With our Flow ToGo application and access to mobile clips, fans won't miss any of the excitement that truly defines this tremendous sports asset. Flow Sports will be available in our basic subscription package, meaning more games for more fans, and instantly positioning Flow as the home of sports in the Caribbean."
Phil Bentley, Chief Executive of Cable & Wireless Communications said: "Following our merger with Columbus and our re-branding to Flow, the agreement with the Premier League is yet another example of the growing momentum building across the Caribbean, delivering significant additional revenue synergies through cross-selling and upselling, as well as improving customer loyalty. This is set to accelerate over the next few years."
Richard Scudamore, Chief Executive of the Premier League said: "We are very pleased that Cable & Wireless Communications has chosen to invest in Premier League broadcasting rights in the Caribbean.
"We look forward to welcoming them as a new partner and are sure they will do excellent job making the competition available to fans across the region."
About Cable & Wireless Communications:
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information please visit:http://www.cwc.com
About the Premier League:
The Barclays Premier League is the most-watched, continuous, annual sporting event in the world. Last season 13.9 million fans attended matches with record average stadium occupancy of 95.9%. Across nine months of the year, 380 matches are viewed in 185 countries with coverage available in over 725 million households. || Bitcoin Investor, Taking Things to a New Level: Bitcoin Exchange Offices to Be Opened in 6 Countries: WILMINGTON, DE--(Marketwired - November 01, 2015) -Digital currency markets, especially those of Bitcoin, continue to be surrounded by a lot of hype these days and while some skeptics claim that Bitcoin will always remain the currency of the future, without ever embodying that so much expected future, the tech industry businessmen who take the enthusiast side are putting money down on the table to invest in Bitcoin and the development of the opportunity they see attached.
Miners Center Inc., a Delaware based cryptocurrency trading company, has taken bold action in the direction of digital currency, as they do not only see it being in a sweet spot, but they also believe it will deliver according to Bitcoin believers' expectations in the near future. Since it has been established in 2014, the company has been buying large amounts of Bitcoin, at higher market price, in order to achieve their targeted volumes for what is boldly outlined within their business plan as the next step.
By the end of Q4, Miners Center will have opened ten small Bitcoin exchange offices throughout the globe: three of them in the USA, two in Canada, two in Australia, one in the UK, one in Germany and one in Hungary. Although the company has planned everything in detail, specific information related to the exact location of the exchange offices and their operational means will be revealed at their actual launching, which will be handled by the company with proper PR and marketing exposure.
However, besides the news of taking things further with Bitcoin, Miners Center does state that the rates policy within the physical exchange offices will not bring over-the-market-price revenues to its clients, as the company's actual customers have been accustomed up to this point.
The current 10% higher-than-the-market-price rate for Bitcoin purchase offered by Miners Center via their official web-site (www.minerscenter.com) has taken so far the shape of a different business unit within the company, governed by a targeted volume-buying strategy and both the exclusively buyer orientation and hot offer itself, will be discontinued as soon as the company reaches enough Bitcoin resources to start operating what was intended as their core business in the first place. Miners Center state that they are very close to reaching the desired purchase volumes and such turn is expected in the near future.
The CEO of Miners Center, Emilian Tourey, an enthusiast, true believer and an advocate of the Bitcoin currency claims that he's proud of having seen the opportunity and having invested his money into something he strongly believes will bring both a substantial return of investment and a tremendous personal satisfaction for being among the first who's supported building up an alternative to the current financial system.
"I am not naive, nor am I a dreamer. I am business man and I do see the flaws attached to Bitcoin, together with the security issues and I also hear the skeptics' arguments. However, I also see the need of more and more people for an alternative to what is now the mainstream financial system. Businesses involved with Bitcoin now need to understand that in order to gain exposure to a larger public, we have to make Bitcoin easily understandable and available to a broader audience and in order to do that, we have to use some of the traditional ways, but without pushing them too far and aiming to become the new bankers at the table. This is one of the major challenges I see for Bitcoin to achieve a widespread adoption, together with the legal legitimacy and a fair, non-opposing regulations," states Tourey.
Taking the Bitcoin deal from exclusively online to the physical, traditional exchange office may be indeed considered the cornerstone of creating the alternative system Tourey aims at.
More information about Miners Center Inc. may be found at their official web-site:www.minerscenter.com || Texan pleads guilty to running bitcoin Ponzi scheme: By Nate Raymond NEW YORK (Reuters) - A Texas man accused of operating a Ponzi scheme involving bitcoins pleaded guilty on Monday in what prosecutors say was the first U.S. criminal securities fraud case related to the digital currency. Trendon Shavers, who authorities said defrauded investors after raising more than $4.5 million worth of bitcoins while operating Bitcoin Savings and Trust, pleaded guilty in Manhattan federal court to one count of securities fraud. "I know what I did was wrong, and I'm very sorry," Shavers said in court. Under a plea deal, Shavers has agreed not to appeal any sentence at or below 41 months in prison. Sentencing before U.S. District Judge Lewis Kaplan is scheduled for Feb. 3. Shavers, who went by "pirateat40" online, was arrested in November, two months after a federal judge in Texas ordered him to pay $40.7 million in a related U.S. Securities and Exchange Commission civil lawsuit. Prosecutors said Shavers, who turned 33 on Monday, raised at least 764,000 bitcoins worth more than $4.5 million based on the average price of bitcoin during the period of the scheme from investors from September 2011 to September 2012. He promised interest rates of 7 percent per week or 3,641 percent a year. The indictment said Shavers solicited the investments on the website Bitcoin Forum, offering to pay interest to investors who loaned bitcoins to Bitcoin Savings and Trust while he pursued a market arbitrage strategy. Michael Ferrara, a prosecutor, in court on Monday said Shavers had invested some of the bitcoins with Mt. Gox, the now-defunct Tokoyo-based bitcoin exchange. But Ferrara said Shavers, who lived in McKinney, Texas, largely instead used new investors' bitcoins to pay back prior investors. "In other words, he had the telltale signs of a Ponzi scheme," Ferrara said. In court papers, prosecutors had also accused Shavers of misappropriating bitcoins to buy a used BMW M5 sedan and a $1,000 steakhouse dinner in Las Vegas, and to go to spas and casinos. Story continues At the peak of the scheme, Shavers controlled about 7 percent of bitcoins in public circulation, prosecutors said. In total, prosecutors said he misappropriated 146,000 bitcoins and caused 48 investors to suffer losses. The case is U.S. v. Shavers, U.S. District Court, Southern District of New York, No. 15-cr-00157. (Reporting by Nate Raymond in New York; Editing by Cynthia Osterman) || NatGas Investing Not For Faint Of Heart: Commodities have been doing horribly; that's not news to anyone. But in a space where prices have continually sunk to new lows across the board, one commodity has managed to outdo them all―natural gas.
The worst-performing commodity of the year, natural gas, is down 30 percent in 2015. Due to the ill effects of roll costs from contango, theUnited States Natural Gas Fund (UNG | B-94)has done even worse, losing 35 percent of its value.
At the same time, equities tied to natural gas have been decimated year-to-date, with theFirst Trust ISE-Revere Natural Gas ETF (FCG | B-95)losing a whopping 46 percent.
YTD Returns For Natural Gas Futures, UNG, FCG
Unrelenting Production Growth
The problem for natural gas is simply that the country has too much of it. Despite the fact that prices are close to the lowest levels in more than a decade below $2/mmbtu, production hasn't flinched. According to the latest data from the Energy Information Administration, output in the U.S. stood at a near-record 81.7 billion cubic feet/day as of last week, up 3 percent from a year ago.
U.S. Lower 48 Natural Gas Production (bcf/d)
To many, that statistic is confounding. Drilling activity in the energy patch collapsed during the past year due to the simultaneous decline in oil and natural gas prices. Surely that would impact production.
At least for oil, it is having an impact. Output of crude in the U.S. is down more than 5 percent from its peak levels. For natural gas, the story is obviously very different.
Large natural gas producers like Range Resources and Southwestern Energy continue to report all-time-high production levels, while calling for more growth in the future. The only takeaway is that the marginal cost of natural gas production is much lower than anyone had imagined.
Demand Disappoints
On the other side of equation is demand, and it's been somewhat disappointing. Industrial demand is actually down marginally this year in spite of the growing economy.
On the other hand, electric power demand has surged, rising nearly 20 percent year-over-year through July. However, the increase is a reflection of significant amounts of coal-to-gas switching and not something that will be repeated year after year.
Because natural gas prices are currently so low, when possible, utilities have switched from burning coal to burning gas. The move has decimated the coal industry, which simply can't compete with relatively clean and abundant natural gas. The largest coal producers in the U.S., such as Peabody Energy and Arch Coal, are all on the verge of bankruptcy, with stock prices close to zero.
(Incidentally, the two ETFs tied to the coal industry have held up better than one might expect thanks to their international exposure. TheMarket Vectors Coal ETF (KOL | C-5), which holds coal producers from around the world, is downonly41 percent this year, while theGreenHaven Coal ETF (TONS | F), which holds European coal futures contracts, is down 17.3 percent.)
YTD Returns For BTU, ACI, KOL, TONS
Most of the short-term switching that can be done from coal to gas has already been done. Going forward, natural gas will likely continue to take market share from coal, but at a slower pace.
Inventories Bloated
The combination of robust supply and a mixed demand picture has kept upside pressure on natural gas inventories. As of last week, stockpiles stood at 3,814 billion cubic feet, 12 percent higher than last year.
From a seasonal perspective, inventories tend to peak around early November before steadily declining through March as the winter-heating season boosts demand.
However, with weather forecasts calling for warmer-than-normal temperatures for the next couple of weeks, inventory builds could continue for a while longer. It's very likely that in the coming weeks, stockpiles will surpass the record-high of 3,929 bcf set in 2012.
Long-Term Exports & DemandGiven this dismal outlook for natural gas, is there any hope of a turnaround in the future? Probably not in the short term. Longer term, it's possible, but that hinges on a few factors. Any recovery will have to come from the demand side, because it certainly doesn't look like supply will be slowing down anytime soon.
The biggest area of potential gains is in the electric power segment and the liquid-natural-gas export segment. As stated previously, increases in demand for power generation will be smaller than they were this year, but that's a steady source of growth that is likely to continue as utilities transition from dirty coal toward cleaner natural gas.
Meanwhile, the U.S. market may get some supply relief as other countries take some of this abundant resource off its hands. In January, Cheniere Energy plans to ship its first cargoes of liquefied natural gas, kicking off a new era of U.S. natural gas exports. This is a sharp reversal from years past when the U.S. was a net importer of the fuel.
From current levels around zero, exports may rise to 8.5 billion cubic feet per day by 2019, according to Charles Blanchard, an analyst at Bloomberg New Energy Finance. That represents about 10 percent of current production, and in combination with demand gains in the power sector, could be enough to fuel a meaningful rebound in prices.
Playing The Bounce
If that happens, natural gas equities will surely follow suit―though it could take a few years for this bullish scenario to develop. The aforementioned FCG, an equal-weighted exchange-traded fund comprising natural gas producers, is the best pure-play ETF on the market.
With a basket of equities, an investor doesn't have to contend with the hazards of holding futures, which will take a big bite out of an ETF’s returns like UNG over longer time periods.
FCG could certainly decline further from here―it's been a falling knife until now. In a worst-case scenario, the natural gas market could remain mired at low levels for years, as it did in the 1990s.
That's the risk an investor has to contend with. But buying into one of the most hated commodities in the market is a high-risk/high-reward bet, best suited for only the most daring investors.
Contact Sumit Roy atsroy@etf.com.
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Permalink| © Copyright 2015ETF.com.All rights reserved
[Random Sample of Social Media Buzz (last 60 days)]
#RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000004
Average $9.0E-6 per #reddcoin
23:00:02 || Current price: 260.64$ $BTCUSD $btc #bitcoin 2015-10-19 02:00:05 EDT || In the last hour, 8 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || Current price: 294.97$ $BTCUSD $btc #bitcoin 2015-10-25 12:00:02 EDT || Why I want you to pay attention to cryptocurrencies. $27 turned into $980,000.00 with Bitcoin ....... http://fb.me/2jdTsV54B || Current price: 154.47£ $BTCGBP $btc #bitcoin 2015-09-10 07:00:02 BST || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $1.1E-5 per #reddcoin
00:15:02 || $252.08 #bitfinex;
$252.00 #coinbase;
$250.97 #bitstamp;
$248.31 #btce;
#bitcoin #btc || My robot has 1,00 hp left! I've earned a total of 14,205,504 free satoshis from http://www.robotcoingame.com/?id=59280 #robotcoingame #Bitcoin #FreeBitcoin || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000005
Average $1.0E-5 per #reddcoin
10:00:02
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Trend: down || Prices: 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-05-19]
BTC Price: 37002.44, BTC RSI: 23.27
Gold Price: 1881.30, Gold RSI: 74.74
Oil Price: 63.36, Oil RSI: 47.99
[Random Sample of News (last 60 days)]
What Changed in Crypto Markets While You Were Sleeping April 9: BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep. Bitcoin update Despite BTC decreasing on April 7, it created a bullish engulfing candlestick the next day. This is a sign that buying strength is increasing. The April 7 dip has now completely retraced. The RSI is trending above 50 and the Stochastic oscillator has made a bullish cross. Therefore, its likely that the trend is bullish. BTC/USD Chart By TradingView Altcoin movers The crypto top-10 are nearly all in the green this morning. XRP is already up almost 7% in a move back over $1.00. Its market cap passed the $46 billion level, overtaking Tethers (USDT) #4 spot. Bitcoin Gold (BTG) is the biggest daily gainer for the second time this week. Its currently trading for nearly $113 in a 32% gain on the day. BTG is also the biggest gainer of the past week, adding on 173%. Harmony (ONE) is the biggest loser of the day at the time of press. The token is down by 6% on the day and 10% in the past week. This has caused it to move back to the #78 position. In other crypto news In an April 9 announcement, Badger DAO stated that its partnership with Fireblocks aims to bring institutional Bitcoin to the DeFi ecosystem. The Bitcoin wrapping protocol also has aspirations to increase its usage among the growing institutional investor base. A new Metaverse Index (MVI) will follow the leading tokens and projects in the NFT and virtual metaverse space. It has been launched by Index Coop, a DAO specializing in creating crypto-economy index tokens. JPMorgan Chase CEO and billionaire Jamie Dimon released the 2020 Annual Report to shareholders. Dimon touched upon crypto and explained that the regulatory understanding surrounding the industry is needed. || Serum Token Becomes Latest Project in Bankman-Fried Empire to Turn Heads: Cryptocurrency derivatives exchange BitMEX is looking to rebuild its brand through a new program it hopes will drive user traffic to the platform. The “ BitMEX Partner Programme ” aims to connect users with trading tools to “enhance their trading experience” while simultaneously rewarding up to 12 fresh industry partners. The partners, in turn, will steer user activity to the platform, according to a press release shared with CoinDesk on Wednesday. In order to achieve its goal, BitMEX said it will be working with other companies to build technical integrations into the exchange, including providing access to the platform’s API, white-glove service and internal resources. In return, the partner companies are to receive a split of the commission pot paid by end users. Rebates for trading integrations will also be rewarded to the partner companies. Related: Serum Token Becomes Latest Project in Bankman-Fried Empire to Turn Heads Those companies include Hash CIB, Coinigy, CryptoSquawk, Drakdoo, Kaiko, Tardis, Paxos, 3Commas, CryptoStruct, NapBots, Stacked and WunderBit. These are to be broken into separate tiers, with each offering different rewards depending on their type of activity involvement according to the program’s webpage . BitMEX’s program touches on several areas including trading software, algorithmic bot platforms, order and execution management system providers, brokers and data providers, among others. Automated trading platform 3Commas and market data provider Tardis will offer privileges and promotions to BitMEX users over the coming days, according to the release. See also: BitMEX Operator Appoints PwC Partner as Chief Financial Officer Related: Genesis CEO on JPMorgan News, Rise of Institutional Interest in Crypto and Lending Services The move comes as the platform seeks to redefine its image after a dramatic saga with the platform’s co-founders . The exchange recently hired a new CEO and has pivoted towards other trading products outside of derivatives after its founder and early executives were accused of violating U.S. laws . Story continues “This is a great way to provide more value to our existing users as well as reach out to new ones by incentivising partners to extend exclusive offers to BitMEX users while rewarding them for referrals they make to us,” BitMEX CEO Alex Hoptner told CoinDesk via email. Related Stories Fintech App Wealthfront Will Offer Direct Crypto Investing Later This Year SEC Delays VanEck Bitcoin ETF Decision to June at Earliest || Bitcoin in Stasis as Crypto Bull Mike Novogratz Warns of Market Washout: Bitcoin sits still near $62,500 and well within Wednesdays price range amid concerns of a broader market pullback in the wake of Coinbase listing on Nasdaq. Ive seen a lot of weird coins like dogecoin and even XRP have huge retail spikes, which means theres a lot of frenzy right now, bitcoin bull and CEO of Galaxy Digital Mike Novogratz told MarketWatch . That never ends well, and so well probably have a washout at one point. The U.S.-based cryptocurrency exchange Coinbases shares (COIN) went live on Nasdaq on Wednesday, rising as high as $429.54 before closing the day at $328. Related: Market Wrap: Bitcoin Stuck Around $63K as COIN Hype Loses Steam Being the crypto market leader, bitcoin broke out of its multi-week consolidation below $60,000 in the days leading up to the highly anticipated listing widely touted as a watershed moment for the cryptocurrency industry and clocked a record high of $64,801.79 on Wednesday. Corporate treasury money has been flowing into bitcoin mainly via Coinbase. In hindsight, bitcoin printing a new all-time high on the day shares the opened for trading was a bit of an obvious one. You could even attribute some of the price appreciation this week squarely to this much-anticipated event, crypto exchange EQUOS said in its daily market analysis email. However, XRP, dogecoin and few other cryptocurrencies also rallied despite not being listed on Coinbase. XRP picked up a bid near $0.6 on April 5 and clocked a three-year high of $1.9 on Wednesday a 220% gain in nine days. Dogecoin has surged by 85% in the past three days. As per Novogratz, that shows Coinbases listing on Nasdaq created a lot of euphoria a point of maximum financial risk where investors, primarily retailers, think good times will continue unchecked. Its usually the time when the market sees a temporary correction. Buy the rumor
Related: BOSAGORAs T-Fi Platform Links with Binance Smart Chain Story continues According to Joel Kruger, currency strategist at LMAX Digital, the market is now seeing a classic sell-the-fact reaction to the news. Bitcoin, XRP and others have pulled back from the highs seen on Wednesday. Its quite common for a market to run up in anticipation of an event before then selling off on the news itself, Kruger told CoinDesk, adding that the cryptocurrency may track COIN in the short-term. Coinbases shares witnessed a two-way business or indecisive price action on the first day of trading, as noted earlier. If the share price drops in the coming days, the cryptocurrency may test $58,820, according to Equos. Dips, however, are likely to be shallow. I would expect buying interest, detached in mindset from the noise of the day, to arrive and happily soak as weak hands leave the market. Equos analyst noted. According to Kruger, the focus would soon shift back to the bigger picture and macro drivers. Data released earlier this week showed the U.S. headline inflation rose to a 12-month pace of 2.6% in March, strengthening the case for continued investments in store of value assets such as bitcoin and gold. All those narratives are still true, and theres a lot of money on the sidelines, especially in the institutional world that has not been deployed yet, Alex Svanevik, the CEO of blockchain data company Nansen told CoinDesk. I dont see a reason for a big correction. Novogratz also remains bullish on bitcoin and the cryptocurrency industry as a whole and foresees bitcoin at $500,000 by 2024. Related Stories Bitcoin in Stasis as Crypto Bull Mike Novogratz Warns of Market Washout Bitcoin in Stasis as Crypto Bull Mike Novogratz Warns of Market Washout || Elon Musk, Snoop Dogg and Mark Cuban love Dogecoin. Should you? How to stay safe when investing in cryptocurrency: Billionaires, celebrities and athletes can’t get enough of the crypto craze.
Tesla CEO Elon Musk thinks digital currencies are here to stay. So does investor and Dallas Mavericks owner Mark Cuban.
They’re not alone. Rapper Snoop Dogg jumped on the Dogecoin bandwagon along with Kiss singer Gene Simmons and restaurateur Guy Fieri after the meme-inspired cryptocurrency surged a whopping 10,000% this year.
Athletes are also flocking to bigger cryptos like bitcoin and ether following a record-breaking rally. Trevor Lawrence, the No. 1 NFL draft pick in 2021, partnered with a global cryptocurrency investment app called Blockfolio and plans to place his signing bonus into an account with the company.
SPAC mania:Shaq, Ciara and A-Rod have one, but are SPACs, the latest investment craze, right for you?
But it’s no longer just enthusiasts and public figures who are dabbling with digital coins.
Amateurs like Earl S. Bell of Brooklyn, New York, are jumping in. He says he’s been an investor for a decade and started to put his money in different cryptocurrencies about a year ago.
“I saw crypto as freedom. In the COVID era, I wasn’t able to get enough work,” says Bell, an architect by trade. “My future plans are to come out with my own coin.”
Bell says his plan would include creating bank-like safes for cryptocurrency investors to store their crypto wallets.
So with all the hype around cryptocurrencies like Dogecoin, bitcoin and ether, should you jump in on the mania, too? It depends on how much you can tolerate extreme volatility in your portfolio.
Cryptocurrencies are digital currency created and exchanged over a decentralized computer network where transactions are secured and verified through coding.
Bitcoin, which launched in 2009, is the original and the world’s most popular crypto. It was designed as an alternative to government money and is based on blockchain technology, which acts as a public ledger of transactions.
Bitcoin’s value depends on investors’ confidence in it because there is no central authority governing supply. It has mainly been used for speculation by traders rather than for payments.
Prices for cryptocurrencies are based on supply and demand. That means the rate at which a cryptocurrency can be exchanged for another currency can fluctuate vastly since the design of many cryptocurrencies ensures a high degree of scarcity.
Bitcoin bulls have called it a “store of value” – which has historically been reserved for safe-haven investments like gold – and argue that it’s a good investment to hedge against inflation.
That's because there’s not an unlimited supply of bitcoin. In fact, there are only 21 million bitcoins that can be mined, and about 18 million have been mined so far. Bitcoin mining is the process that creates cryptocurrency. It is resource-intensive in an effort to control the number of bitcoins in circulation.
Enthusiasm around Bitcoin spurred other digital tokens.
Ethereum, which launched in 2015, is a blockchain-based software platform that is primarily used to support ether, the world's second-largest cryptocurrency by market value at more than $400 billion. It eclipsed $3,900 on Saturday to touch another all-time high, rising more than 400% in 2021.
Ether supply, however, isn't capped and new tokens are created through a similar mining process as bitcoin.
The "memecoin" Dogecoin was created in 2013 as a joke poking fun at the surge in other digital coins. Dogecoin was inspired by the popular Doge meme, which is an image of a Shiba Inu dog staring sideways at the camera with raised eyebrows.
The latest surge has pushed Dogecoin’s market capitalization to $62 billion, which means it’s valued more highly than Ford and Twitter. In 2021, it has surged from less than half a penny to a record of nearly 75 cents. It's currently trading just below 50 cents.
Cryptocurrencies aren't a currency supported by governments, and they aren't a piece of a company, like a stock. But the factors that determine their underlying worth are unclear, experts say.
For those who invest in a stock, the price of a share should be the present value or future profit that a company is going to generate, according to Itay Goldstein, a professor of finance and economics at the University of Pennsylvania's Wharton School of Business.
When it comes to cryptocurrencies, it’s really up in the air, he says.
“No one can tell you whether bitcoin priced at $50,000, $60,000, or $70,000 is too much or too little,” says Goldstein. “So as a result, it takes on a life of its own. ... People start to believe that’s what it should be and then it crashes with no clear guidance on where it should stop.”
Cuban is one of the core investors on NBC’s reality show "Shark Tank." He told USA TODAY he’s a big believer and investor in cryptocurrency.
Cuban says he first started investing in cryptocurrencies in 2017 and added to his investments last year and this year. He declined to say how much he has invested, except that it’s “not enough.”
He likes Dogecoin because there’s a limit to it with annual inflation of 5 billion coins.
“So, if more places take Doge and more people spend it, then those 5 billion coins annually will be consumed and that may increase the value of Doge,” Cuban says.
As for cryptocurrency becoming mainstream, Cuban says that can mean a lot of different things.
“I think the first impact of crypto, particularly Ethereum, will be for business applications,” Cuban says.
First-time investors should proceed with caution. Piling all of your nest egg into something as volatile as cryptocurrencies poses big risks to your retirement, experts say. Wealth managers and finance experts have long been skeptical of these speculative investments for amateur investors due to their extreme swings.
“The risks are huge. Crypto prices are a roller coaster,” says Goldstein. “Certainly, people who put money in bitcoin a few years ago could make a huge return. But there were points in between where it saw big drops.”
In 2013, bitcoin began trading around $13 and spiked to more than $1,000 by December. In late 2017, the digital token surged to nearly $20,000, before crashing to almost $3,000 the following year before its dizzying rise to above $64,000 last month.
"If you have a small amount of money that you’re trying to save and have plans for what to use it for, this isn’t something you should invest in," Goldstein adds. "This is for people who want to take on risk and speculate."
Dogecoin has seen similar booms before where it reached all-time highs in 2017, but it was short-lived.
“I don’t think this time is any different,” says Leeor Shimron, vice president of digital-asset strategy at Fundstrat Global Advisors.
Late Saturday, dogecoin slumped more than 20% during Musk’s "Saturday Night Live" appearance as host. It was unclear what drove the selloff. But analysts say it was likely a “buy the rumor, sell the news” strategy, an old market adage based on the belief that an asset may rise in anticipation of rumors, then stagnate or fall when investors take profits following the event.
“These types of meme coins have more power in the pandemic because more people are plugged into social media on Twitter or TikTok," adds Shimron, who is bullish on larger coins like bitcoin and ether. "But it’s not healthy or sustainable for smaller coins like Dogecoin that don’t necessarily have fundamental value.”
But that hasn't stopped non-professional investors from throwing themselves into the mix.
Like other investments, such as SPACs or special purpose acquisition companies, cryptocurrency has a mass following on social media sites.
Facebook, for example, is where Abdullah Taimur of Pakistan trades information with other cryptocurrency investors in the United States and elsewhere.
He says he began investing in at least six cryptocurrencies, including Dogecoin, SafeMoon and WINk, the past few months. Taimur adds he doesn’t mind the volatility in the crypto markets. He has advice for others looking to jump in:
“If you’re a beginner, just don’t invest right away," he says. "Join these (online) crypto groups. You really get to know about the market, and you also learn from other people’s experience.”
Most importantly, he says, never sell at a loss or jump on a "flying rocket.”
A number of factors are driving the crypto craze in prices.
With the stock market at record highs, interest rates at historic lows and real estate prices strengthening, investors are looking for more ways to generate returns and diversify their portfolios, according to Goldstein.
Investment banks like Morgan Stanley and rival Goldman Sachs have offered some of their wealthiest clients access to Bitcoin funds.
The debut of Coinbase — a cryptocurrency exchange — as a publicly traded company last month attracted both day traders and new amateur investors and helped spur the latest rally in cryptocurrencies, pushing virtual tokens like Dogecoin, bitcoin and ether to record highs. The exchange was founded as a simpler way to trade digital coins.
The surge in popularity of “memecoins” like Dogecoin follows a recent boom in retail trading during the coronavirus pandemic as more people worked online, spurring interest in “meme stocks” like GameStop.
The rise in participation among retail, or amateur, investors was helped in part by the injection of stimulus checks into the economy, analysts say. For instance, 10% of stimulus payments in the third round, or nearly $40 billion of the $380 billion in direct checks, wereexpected to be used to buy bitcoins and stocks, according to Mizuho Securities.
In fact, bitcoin was the preferred investment choice among 200 of the respondents who expect to receive a third round of direct payments.
Dogecoin has ridden a similar Reddit-driven wave as stocks like GameStop and AMC in recent months, accelerated by a series of tweets by tech billionaire Musk, who was pumping the cryptocurrency. Earlier this year, Dogecoin soared following enthusiasm from a Reddit group called r/SatoshiStreetBets, which aims to jack up the prices of cryptocurrencies.
Musk, who has more than 53 million followers on Twitter, has driven traders into frenzies by mentioning Dogecoin at times, although on Friday, he tweeted a note of caution: "Cryptocurrency is promising, but please invest with caution!" he posted.
Jeff Eriks of Scottsdale, Arizona, also is part of an investment Facebook group, but he said he avoids cryptocurrencies.
“There’s a lot of risk and reward as long as you have the cash back-up to deal with it,” Eriks says.
Eriks says he’s a small-business owner who likes to throw some cash into the market to see what it will do, but he likely would never use cryptocurrencies to pay his 22 employees.
That’s because he says it’s difficult for him to see cryptocurrencies becoming a common form of payment even though some businesses are accepting it.
There have also been growing concerns about a regulatory crackdown on bitcoin. Turkey’s central bank banned the use of cryptocurrencies from the end of April, saying crypto payments came with “significant risks.”
India is also reportedly set to propose a law banning cryptocurrencies, fining anyone trading in the country, or holding such digital assets.
Taimur and Bell add that new investors in cryptocurrencies need to be careful of scammers.
The Securities and Exchange Commission agrees.
The SEC in recent years has issued several warnings for investors to “watch out” for fraudulent digital asset and crypto trading websites, and there have been dozens of criminal charges brought against alleged fraudsters.
The agency charged or settled at least 23 cases last year and five this year involving alleged cryptocurrency fraud.
In one case in March, the SEC said it filed an emergency action and obtained a temporary restraining order against an Idaho man who had allegedly raised millions of dollars from hundreds of investors by falsely claiming to be a financial adviser with securities licenses. He overstated investment returns and misappropriating money received from investors.
An SEC spokesman referred questions to the agency’s website on cryptocurrency enforcement actions.
The sharp rise in the value of bitcoins has some analysts worried about a potential bubble in the cryptocurrency market, with bitcoin's price – at one point – more than doubling since the start of 2021.
More wealth advisors, however, are starting to take these alternative investments seriously. Their clients are asking how they can incorporate cryptocurrencies into their portfolios to generate more money for their nest eggs.
"Interest in cryptos is the highest it's ever been. Now the investment community is trying to wrap its head around this asset class," says Shimron of Fundstrat Global Advisors.
Just over 60% of financial advisers say they have been approached by clients for information about cryptocurrencies, according to a recent study from Grayscale, the world’s largest digital currency asset manager.
But just 10% of advisers surveyed recommend or use cryptocurrencies in client portfolios. Why? Lack of familiarity is often the main reason advisers steer clear of recommending particular investments, the survey showed.
In the highly regulated world of broker-dealers and registered investment advisory firms, the evolving state of cryptocurrency regulation has prompted many firms to stand on the sidelines. As a result, 48% of advisers surveyed said that firm policy or compliance issues currently keep them from recommending or using cryptocurrencies in client portfolios.
Of the roughly half of advisers surveyed who said they don’t recommend cryptocurrency because of a formal prohibition, nearly a quarter of them said they would expect to begin using them as soon as they’re able.
Cryptocurrencies stand to benefit from a massive generational wealth transfer over the next decade, experts say. By 2030, millennials will hold five times as much wealth as they have today and are expected to inherit over $68 trillion from their predecessors, according to a study by Coldwell Banker Global Luxury.
Shimron has advised clients who are more conservative with their investments to allocate between 2% to 5% of their portfolio in crypto, with 80% of that toward bitcoin and 20% toward Ethereum.
Fundstrat expects bitcoin and ether to reach $100,000 and $10,500, respectively, by the end of the year.
For those who want to be more aggressive, he recommends that they use up to 10% of their total portfolio allocation toward crypto, though some younger investors could go a little higher than that if they’re willing to accept the risk, he adds.
Shimron says that investors should buy and hold because investing in cryptos a "multi-decadelong play" as investors wait for the societal and technological shift to take place.
When it comes to cryptos, investors should stick to a rigid investing plan by using a dollar-cost average approach, Shimron added. From there, investors can determine how much they want to invest, their allocation and a time frame they’re comfortable with to help them ride out bumps along the way.
"Volatility will always be there," says Shimron. "Never put in more money than you’re willing to lose."
This article originally appeared on USA TODAY:Dogecoin: Elon Musk loves it and bitcoin. How to stay safe with crypto || IndyCar Values TV Reach Over Revenue With Sport in ‘Growth Mode’: NBC will carry the Indianapolis 500 on May 30, and according to a recent media report , it could be the last time that “The Greatest Spectacle in Racing” airs on the broadcast network. The story said NBC is close to “walk[ing] away from its TV rights deal with IndyCar ” and that CBS would be the “likely beneficiary” if the two sides parted ways. Chris Lencheski, chairman of Phoenicia Sport and Entertainment (an adviser to media companies and private equity firms), believes CBS could be a sensible landing spot for the open-wheel racing circuit. ABC (which carried the Indy 500 every year from 1965 through 2018) and FOX would also seemingly suit the sport’s needs. But he says IndyCar should avoid the temptation of placing revenue before reach. While an OTT or MVPD style service “might be willing to pay a pretty good chunk of money to acquire the exclusive rights to IndyCar, if the [platform] itself has a limited—albeit upscale—audience, the series is actually limiting themselves in the long haul.” Engagement of current and future fans aside, team owners selling commercial sponsorships and race promoters selling race entitlements need the total potential addressable audience pie to be as large as possible. Our Take: Mark Miles, president and CEO of Penske Entertainment Corp., which owns the NTT IndyCar Racing Series, refuted the report’s “account of where [IndyCar and NBC are] in negotiations.” He said the current broadcast pact was always set to expire at the completion of the ’21 season, and with no back-end rights in the deal, IndyCar has “been free from the day [it] signed [with NBC] to talk to the marketplace” (i.e. the fact that discussions are ongoing is not particularly newsworthy). He added the open-wheel racing circuit was “definitely still engaged in important conversations” with NBC. A decision on IndyCar’s media rights future should be made within a matter of weeks. It’s not clear why NBC would be prepared to walk away from the relationship. But with plans to shutter NBCSN by the end of 2021, NBC will have to find a home for the half of the IndyCar slate not currently airing on network television should it retain domestic broadcast rights. Presumably, USA Network, which will carry some NASCAR races next year, and Peacock would be among the options. Story continues CBS’ renewed focus on motorsports (see: Formula E deal, launch of Superstar Racing Experience) makes it a logical home for IndyCar should a split occur, Lencheski said. Like NBC, CBS can air some races on network television, slot the balance on a cable network (CBSSN) and run practice/qualifying on their OTT service, Paramount+. It’s safe to assume the majority of IndyCar races will air on network television next season regardless of where the rights end up. “We believe [the sport] is in the early stages of its growth mode,” Miles said. “And in that context, for the teams, our tracks and the series itself—we of course care about rights fees—but audience [size] is the highest priority. It is very unlikely we would rely solely on any of the [streaming] platforms for our live coverage in the short term.” Of course, if the goal is to maximize reach, it wouldn’t make much sense to sign an exclusive deal with a broadcaster. While IndyCar is prioritizing eyeballs and seeks to increase the number of “live network events” (i.e. races on broadcast television) during this round of negotiations, Miles mentioned the sport does not want to be “last adopters to streaming and disruptive technologies … The alchemy here is to find an arrangement that allows [the series] to continue to have a growing audience while not altogether being on the sidelines with [digital].” Lencheski said IndyCar would be wise to align with Amazon as a complement to its linear broadcast partner. “The smartest tactic Formula One has employed was developing the Drive to Survive anthology with Netflix,” he said. “It enabled the casual customer to get familiar with the drivers and story of F1. People relate with people. They relate with the storyline. Amazon is a perfect partner for IndyCar because they can tell a great story. They [also] have a scalable strategy that could sell tickets, licensing and merchandise, all of the things they do or are planning to do with the NFL.” Dialogue between IndyCar and the e-commerce giant is believed to be ongoing. Amazon said in a statement “as a matter of company policy we don’t comment on rumors or speculation.” Miles did not want to comment on his conversations with any specific streaming service. But he did say the idea of signing a deal with a broadcast network and then a secondary pact with the likes of Amazon or Apple is not as cut and dry as it sounds. “Most of the linear broadcasters, if they are going to make a major commitment to you, then they want their streaming platform to be your streaming option.” Look for IndyCar to retain its international media rights, as it has since 2019, regardless of whom it eventually decide to partner with domestically. Doing so enables the sanctioning body to capitalize on driver success (in terms of exposure or rights fees). “It’s not surprising that when you have a driver from France, who is well-known in France, who is having success or is doing something new—like Romain Grosjean—that our licensees audience goes up considerably,” Miles said. With more than half of the series’ drivers from international locales (22/34, from 14 different countries) there is an opportunity to go market by market and unlock economic value as those individuals find success. It’s worth noting that most of IndyCar’s existing deals abroad have one or two years remaining. More from Sportico.com Ten NFL Games Fans and Advertisers Can't Afford to Miss Bitcoin Car to Join Indy 500 Field via Ed Carpenter Racing Partnership NBC to Launch Olympics Twitch Channel for Interactive Games || The Crypto Daily – Movers and Shakers – May 14th, 2021: Bitcoin , BTC to USD, rose by 0.34% on Thursday. Following a 12.52% slide on Wednesday, Bitcoin ended the day at $49,750.6. A bearish start to the day saw Bitcoin slide to an early morning intraday low $46,601.0 before making a move. Steering clear of the first major support level at $46,150, Bitcoin rallied to an early morning intraday high $51,333.0. While falling short of the first major resistance level at $55,539, Bitcoin broke back through the 23.6% FIB of $50,473. A second sell-off, however, saw Bitcoin slide back through the 23.6% FIB to a low $47,100. Continuing to steer clear of the major support levels, however, Bitcoin moved back through to $49,700 levels to end the day in the green. The near-term bullish trend remained intact in spite of the latest slide back to sub-$50,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $27,237 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Thursday. Crypto.com Coin slid by 9.92% to lead the way down. Binance Coin (-3.60%) and Ethereum (-2.05%) also saw red on the day. It was a bullish day for the rest of the majors, however. Cardano’s ADA jumped by 23.2% to lead the way, with Polkadot and Ripple’s XRP seeing gains of 13.68% and 8.67% respectively. Bitcoin Cash SV (+1.85%), Chainlink (+2.36%), and Litecoin (+2.38%) also joined Bitcoin in the green. In the current week, the crypto total market rose to a Wednesday high $2,577bn before sliding to an early Thursday low $1,965bn. At the time of writing, the total market cap stood at $2,226bn. Bitcoin’s dominance rose to a Monday high 46.90% before falling to a Thursday low 41.15%. At the time of writing, Bitcoin’s dominance stood at 42.11%. This Morning At the time of writing, Bitcoin was up by 0.81% to $50,152.0. A mixed start to the day saw Bitcoin fall to an early morning low $49,565.0 before rising to a high $50,223.0. Bitcoin left the major support and resistance levels untested early on. Story continues Elsewhere, it was a mixed start to the day. Cardano’s ADA (-1.94%) and Ripple’s XRP (-0.55%) saw red to buck the trend early on. It was a bullish start for the rest of the majors. At the time of writing, Bitcoin Cash SV was up by 4.38% to lead the way. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the pivot level at $49,228 to support a run at the 23.6% FIB of $50,473 and the first major resistance level at $51,855. Support from the broader market would be needed for Bitcoin to break out from Thursday’s high $51,333.0. Barring an extended crypto rally, the first major resistance level and Thursday’s high would likely cap any upside. In the event of an extended crypto rally, Bitcoin could test resistance at $55,000 before any pullback. The second major resistance level sits at $53,960. Failure to avoid a fall through the pivot at $49,228 would bring the first major support level at $47,123 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$45,000 levels. The second major support level at sits $44,496. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural Gas Markets Continue to Press Three Dollars Oil Price Fundamental Daily Forecast – WTI, Brent Tumble on Rate Hike Concerns, Covid-Related Demand Worries Gold Price Prediction – Prices Rise Rebounding from Support Following Robust Producer Inflation US Stock Index Futures: Posting Small Gains after Snapping 3-Day Losing Streak on Thursday AUD/USD Forex Technical Analysis – Trying to Establish Support Inside Retracement Zone at .7712 to .7669 Dogecoin – Daily Tech Analysis – May 14th, 2021 || China Is Opting Out of US-Run Financial System: Traders and analysts continue to talk up ether and alternative cryptocurrencies as bitcoin struggles to regain the $64,000 record price level attained weeks ago. Bitcoin (BTC) trading around $52,964 as of 21:00 UTC (4 p.m. ET). Slipping 3.6% over the previous 24 hours. Bitcoins 24-hour range: $52,622-$55,851 (CoinDesk 20) BTC below the 10-hour and the 50-hour moving averages on the hourly chart, a bearish signal for market technicians. The price of bitcoin was dropping Thursday, going as low as $52,622 and settling at $52,964 as of press time. Theres been an almost $3,000 price change over the past 24 hours for the worlds oldest cryptocurrency, ranging from $55,851 down to $52,622. Its the season for alternative cryptocurrencies, or alts, according to Rich Rosenblum, president of crypto market maker GSR. This might help explain why bitcoin has suddenly lost some of the momentum seen earlier this week. Related: China Is Opting Out of US-Run Financial System When new money flows into BTC, people are less focused on alts, Rosenblum told CoinDesk. Once it feels like the bullish pattern for BTC breaks down, people roll some of those profits into alts. Bitcoin market dominance The market dominance of bitcoin continues to decline, and its less than half of the total blockchain market Thursday. At 49.5% at press time it is down from 73% at the start of 2021. Crypto natives might be taking profits in BTC to free up some capital to invest in alts, Rosenblum said. Zachary Friedman, chief operating officer at quantitative firm GDA Capital, senses bitcoins rally might just be pausing. Related: Coinbase to Acquire Institutional Data Analytics Platform Skew As we have seen with most bull cycles, bitcoin typically leads the charge, Friedman said. Once bitcoin tops, money is redistributed into altcoins, which marks the nearing end of these cycles, historically. Story continues While ether keeps pushing to new highs almost daily, bitcoins all-time high above $64,400 came two weeks ago. For now, BTC is out of the limelight. Ether and alts will likely keep up the bulk of the action for the next leg of this cycle, Friedman said. Read More: Coinbase Debuts Buy With PayPal Feature (but Read the Fine Print) Ether breaks new record, again Ether (ETH) rallied to a fresh all-time high Thursday around $2,800, before fading later in the day. The second-largest cryptocurrency by market capitalization was trading around $2,708 as of 21:00 UTC (4:00 p.m. ET), down 0.75% over the prior 24 hours. Since the end of March, weve seen ETH going stronger against BTC, said Élie Le Rest, partner at crypto quantitative trading firm ExoAlpha. The technical proposal EIP 1559 to fix the Ethereum blockchains problematic capacity constraints may be aiding in the bullish sentiment. This bullish trend on ETH may be seen through different angles, but the upcoming upgrade including EIP 1559 is seen as a strong catalyst of the recent ETH bull run, Le Rest said. Jason Lau, chief operating office of San Francisco-based exchange OKCoin, said ether appears to have decoupled from bitcoin. This is significant as ETH/BTC had been in the ~0.02-0.04 BTC range for almost the past two years, but recently just hit ~0.05 BTC Lau said. As of press time, the ETH/BTC pair, which signals traders rotating in and out of bitcoin into and from ether, is up 2.6% and well over 0.05 BTC. It has been mega bullish since April 27. The [non-fungible token] boom, recent scalability improvements, Ethereum protocol upgrades and DeFi growth have all contributed, Lau said. Those upcoming features are a great incentive for investors to tag along, contributing to ETH against BTC Read More: As Ether Pushes Ever Higher, Crypto Traders Plot Price in Bitcoin Terms BNB now non-negligible share of digital-asset markets One of the biggest gainers in the altcoin space this year is Binance coin (BNB), an asset used to offset trading fees charged on the Binance exchange. On a percentage basis, BNBs dominance, the share it takes up of total crypto market capitalization, has gained over 550% since the start of 2021. As of press time, BNBs market dominance is at 4.4%. Other markets Digital assets on the CoinDesk 20 are all in the red Thursday. Notable losers as of 21:00 UTC (4:00 p.m. ET): aave (AAVE) 7.2% nucypher (NU)- 7% yearn finance (YFI) 3.5% Equities: In Asia the Nikkei 225 index closed up 0.21% as tech stocks climbed although investors had concerns over upcoming corporate earnings reports . Europes FTSE 100 ended the day flat, down just 0.03% as an overwhelming amount of Q1 earnings data left traders mixed on the results . In the United States, the S&P 500 index closed up 0.70% as very strong earnings from Facebook and Apple led investors to push the buy button on stocks . Commodities: Oil was up 2%. Price per barrel of West Texas Intermediate crude: $64.93. Gold was in the red 0.40% and at $1,774 as of press time. Silver is falling, down 0.30% and changing hands at $26.12. Read More: Feds Powell Says Market, as Exemplified by Dogecoin, Is a Bit Frothy Treasurys: The 10-year U.S. Treasury bond yield climbed Thursday to 1.636 and in the green 1.3%. Related Stories Bitcoin Stabilizes Near Support; Resistance Around $56K-$58K NYSE-Owner ICE Sold Coinbase Stake for $1.2B || People Should Own Small Percentage in Bitcoin, says Scaramucci: SkyBridge Capital founder Anthony Scaramucci has revealed that he believes people should own at least a small amount of Bitcoin (BTC).
According toreports, the financier, who served as the White House Director of Communications for ten days back in 2017, said he advises his clients to own between 1 and 3% in the cryptocurrency. While quick to state he does not recommend owning their entire net worth in BTC, he advises them not to miss out.
Scaramucci has always been an advocate of BTC. His company, the global investment firm SkyBridge Capital,has a fundin the cryptocurrency. But the investment advisor’s more recent vocal support has come at a time of struggle for BTC. It may still be the world’s leading cryptocurrency by market capitalization, but 2021 is proving hard for BTC.
While hitting its all-time high back in April, it has since struggled to regain that kind of momentum, hovering over the $50,000 mark ever since. Furthermore, reports stated this week that the Bitcoin dominance rate (BTCD) hasfallen to its lowestsince 2018.
Matters have not been made better with Elon Musk announcing on May 12 that his company Teslawould no longer acceptpayments made in BTC. The tech mogul, whose social media presence has gained notoriety this year for driving up the price of Dogecoin (DOGE), revealed his decision was in light of the energy usage associated with BTC was detrimental to the environment.
In addition, this year has seen BTC’s competition really rise to the occasion as altcoins catchup in price. Ether (ETH), for one, has risen over 450% this year so far, andsurpassed Visain terms of market capitalization. The aforementioned DOGE has also had astronomical growth. Accordingto data, it has risen nearly 20,000% in the last year. It is currently ranked the 5th most valuable cryptocurrency by market cap.
Despite the rise of altcoins, Scaramucci remains optimistic that the odds are in BTC’s favor. He named it “the apex predator” of digital currencies. Meanwhile, he said DOGE is too far off the scale for his clientele.
He is not the only one to voice support for BTC this week. For one, Jack Dorsey, founder of Twitter and Square. Heissued a Tweeton May 14, stating that BTC changes everything for the better. “We will forever work to make bitcoin better.”
This was in response to Square’s Chief Financial Officer Amrita Ahuja, who claimed ina Tweet of her ownthat Square’s BTC strategy hadn’t changed.
Ahuja stated “We’re deeply committed to this community, including working towards a greener future through our Bitcoin Clean Energy Initiative.” || Crypto Could Spark Creative Solutions, Says Billionaire Chris Sacca: Billionaire investor Chris Sacca believes cryptocurrencies’ environmental problems could spark creative solutions. The founder of Lowercase Capital admitted to holding a variety of cryptocurrencies, including bitcoin (BTC) and ethereum (ETH). “The climate impact bums me out,” he said , “but that is the market impetus for a lot of clean energy innovation.” Sacca’s tweet in which he made these proclamations was prompted by a Twitter thread from Mark Cuban. Besides both being crypto enthusiasts, the billionaires appeared together on popular investing show “Shark Tank.” Sacca made these statements as qualifications when asking Cuban whether transactional utility drove his crypto selection. Sacca invested early in bitcoin, stating that he had “bought bitcoin at $800,” in March 2014. A longtime bitcoin bull, he predicted it would become “institutionally mainstream” in 2017. Although, that same year, and in 2013, he described it as an “environmental disaster.” “I strongly believe in crypto, but it can’t drive a massive increase in fossil fuel use, especially coal,” he said. Bitcoin’s environmental reputation Tesla CEO Elon Musk echoed these remarks concerning coal use to mine bitcoin in his announcement that the company would no longer accept bitcoin as payment. “We are concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal,” the tweet read. Despite currently putting bitcoin payments on hold, the tweet remarked that Tesla would retain its bitcoin holdings. It continued that the company intends to eventually use it for transactions, once bitcoin mining transitions to more sustainable resources. Incentivizing renewable resources This apparently indicates that Musk is optimistic in bitcoin’s potential to switch to a more sustainable path. A whitepaper commissioned by Square and ARK Invest also championed Sacca’s belief in bitcoin spurring sustainable innovation. Apart from catalyzing sustainable innovation, bitcoin mining companies have also begun prioritizing environmental consciousness in their business strategy. For instance, Digihost is focusing on mining bitcoin in an efficient and environmentally conscious way. The company announced that 90% of the energy consumed by its bitcoin mining operations is from zero carbon emission sources. || Cosmos Investors Vote to Approve Inter-Blockchain Communication: The long-awaited vision of the Cosmos blockchain has now been realized, as holders of theATOMtoken have voted throughinter-blockchain communication(IBC), enabling assets to transfer easily between blockchains.
Thefinal voteto enable the feature was 112 million to 75, overwhelmingly in support of activation.
In the simplest terms, IBC enables messages to travel between blockchains that have implemented the standard. The most obvious use case in crypto is sending messages to transfer tokens off one chain and onto another.
Related:Bitcoin + Ether: Risks and Rewards
“At its core, IBC is a method of securely exchanging data between two independent (sovereign) blockchains. This means that any two blockchains that support IBC can send communication back and forth in a permissionless manner,” Zarko Milosevic, chief scientist at the blockchain consultancy Informal Systems, told CoinDesk by email.
This development has the potential to open up opportunities in thedecentralized finance (DeFi)sector, where a product on an application-specific blockchain could use an asset from a completely different chain.
For example, ATOM is the governance token for Cosmos, the blockchain built to enable IBC. “Previously, ATOM was relegated to the Cosmos Hub with regard to its utility as a governance token. It is now transferable and interoperable with all blockchains that support IBC,” Milosevic said.
One place ATOM may go: the Terra blockchain, which runsa DeFi savings accountcalled Anchor. Terra could plug in to IBC and make ATOM one of the tokens its underlying money market will loan.
Related:Square's CFO Says There's 'Absolutely A Case' for All Corporate Balance Sheets to Hold Bitcoin
IBC was built into the Stargate upgrade enabled by the Cosmos ecosystemin February. ATOM holders, however, opted to let Stargate run a bit longer and do further testing before enabling IBC. The vote put IBC into effect on Cosmos.
There was no delay between the vote and the feature going live. “Since it is a parameter change, it does not require for the chain to be halted,” Milosevic explained.
The activation of IBC is not enough for all blockchains to work in conjunction with each other, though. IBC is a protocol that other blockchains can use, but they must upgrade to the IBC standard.
That is theoretically possible forany blockchain to do, but those built on Tendermint, theconsensus modelnative to the Cosmos ecosystem, are likely to be the first to adopt the standard. Some of the blockchains that are built on Tendermint includeKava, Agoric, Akash,FoamandCrypto.com.
“It’s like dropping a crystal into a supersaturated solution: The pent-up need for interconnection between chains will be unleashed,” Dean Tribble, the CEO atAgoric, told CoinDesk through a spokesperson. “Some of the most interesting connections will be between chains that we have never heard of, accomplishing things not currently feasible.”
Agoric is a secure smart contracts platform. It’s not yet running in the wild, but its developers have tried IBC in tests.
Open-source cloud services provider Akash and crypto-trading app Crypto.com both told CoinDesk that each is technically ready to join IBC and should do so in a matter of weeks, pending approval by their respective token holders.
Cosmos’ funding came from a 2017 initial coin offering that raised $17 million to support a cross-blockchain future. Its war chestappreciated dramaticallythanks to deft treasury management. The project had a variety of leadership changes througha rocky 2020but carried on.
The websiteCosmos-Capestimates the combined market capitalization for the ecosystem’s blockchains at over $60 billion, led by Binance Coin, Terra, Crypto.com and Cosmos itself.
“Since IBC is modular by design, it can be easily extended to support more chains outside of the Tendermint ecosystem. For example, the modules needed to open IBC connections to the Polkadot and Kusama networks and other substrate based networks are under development,” Milosevic wrote.
Similarly, the venture fundMulticoin Capitalrecently releaseda reporton one blockchain in the Cosmos ecosystem, Thorchain, a cross-chain decentralized exchange, in the same mold asDeFi staple Uniswap. Multicoin’s Tushar Jain wrote in an email to CoinDesk about Cosmos’ latest upgrade:
“It is a huge deal. Through things like IBC and Thorchain’s bridge to non-Cosmos protocols and other bridges like Solana’s wormhole bridge, we will see the cross-chain future come to life,” Jain said.
Disclosure: Brady Dale has a very small holding of ATOM tokens.
• Cosmos Investors Vote to Approve Inter-Blockchain Communication
• Cosmos Investors Vote to Approve Inter-Blockchain Communication
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20, 38436.97, 35697.61, 34616.07
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
What Changed in Crypto Markets While You Were Sleeping — July 5: BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
During the week of June 28-July 5, BTC did not move significantly in either direction. On the contrary, it ranged between $32,699 and $36,660. It’s still trading above the long-term horizontal support level of $32,600 and has created several long lower wicks below it.
However, technical indicators in the weekly time frame are still bearish. The MACD is negative, the RSI has crossed below 50, and the Stochastic oscillator has made a bearish cross.
The total cryptocurrency market cap is currently sitting at $1.48 trillion and has remained mostly flat throughout the past weekend. Bitcoin (BTC) and Ethereum (ETH) are down 3.5% and 2.5% respectively, while most altcoins in the top-100 are also seeing slight losses on the day.
Synthetix Network Token (SNX) is faring the best. SNX is up 18.5% in the past 24 hours and has gained more than 41% in the past week. The Graph (GRT) and ECOMI (OMI) are also both up by over 10% from yesterday.
TitanSwap (TITAN) is the day’s biggest loser, trading down nearly 8%. However, this appears to be only a slight pullback. TITAN is still up by over 100% in the past week, beating out every other altcoin in the top-100.
• The Kazakhstan government has imposed a new law that will seecryptocurrency mining taxed. The government publishedan official noticesaying that the head of state had signed the law into effect late last month. The law will come into effect on January 1, 2022, and is expected to generate billions in the national currency tenge.
• The President of the Philippine Stock Exchange has said that he wantscrypto tradingto take place on the exchange, and is waiting to hear back from the country’s Securities and Exchange Commission (SEC).
• Auditing firm Ernst & Young (EY) has released a zero-knowledge proof Layer 2 protocol in order to help with addressingrising transaction feesonEthereum. || BTC, ETH, XRP, LTC, XVG, DIA, TFUEL—Technical Analysis May 27: Bitcoin (BTC) has bounced at the $30,000 support area.
Ethereum (ETH) has completed a fourth wave pullback.
XRP (XRP) has bounced at the 2,200 satoshi support area.
Litecoin (LTC) has bounced after completing a bearish impulse.
Verge (XVG) is trading in a range between $0.018 and $0.042.
DIA (DIA) is potentially following an ascending support line.
Theta Fuel (TFUEL) is trading inside a descending parallel channel.
BTC has been increasing since May 19, when it reached a low of $30,000. On May 23 and 24, it created a higher low and abullish engulfingcandlestick.
The two main resistance levels are found at $41,200 and $48,150. These targets are the 0.382 and 0.618 Fib retracement levels.
Technical indicators are showing some bullish signs. TheMACDhas given a bullish reversal signal, and the RSI is increasing after generating a bullish divergence.
Both these signs signal a potential bullish trend reversal.
On May 14, the long-term ₿0.084 resistance area rejected ETH/BTC, initiating a downward movement. The decrease continued until May 23, ending with a low of ₿0.053.
ETH/BTC has been increasing since.
The drop potentially completed afourth wave pullback.It validated the resistance line of a parallel ascending channel from which it broke out from. In addition, it validated the 0.5 Fib retracement level.
While technical indicators are neutral, the price action seems bullish.
Therefore, it’s likely that the token eventually breaks out above the ₿0.084 area.
XRP/BTC has been decreasing since May 19, when it reached a high of 3,909 satoshis.
The downward movement continued until a low of 2,014 sats was reached on May 23. XRP/BTC has been moving upwards since.
The main support area is found at 2,200 satoshis. Since April, there have been two deviations (red circles) below this area, which have led to upward movements.
The main resistance area is found at 3,000 satoshis. A breakout from this level would be required for the trend to be considered bullish.
The MACD and RSI support this upward move (green icons).
LTC has been moving downwards since May 10, when it reached a high of $413.50. The downward move looks impulsive.
However, the price bounced on May 23 and has been increasing since.
The 0.382 and 0.5 Fib retracement levels create the main resistance zones. These are found at $230 and $265, respectively.
XVG has been decreasing since reaching a high of $0.084 on May 7. The drop has been sharp, amounting to 80% in 16 days.
The decrease has taken it back to the $0.018 support area that it broke out from in December 2020 and initiated a bounce.
The main resistance area is found at $0.042. XVG will likely consolidate between these two levels.
DIA has been decreasing since reaching a high of $5.80 on May 5. It reached a local low of $1.25 on May 23.
This served to validate an ascending support line for the fourth time. The line has been in place since October 2020.
There are resistance levels at $3 and $3.53.
TFUEL has been trading inside a descending parallel channel since March 24. It bounced at the support line of the channel on May 19 and has been moving upwards since.
Both the RSI and MACD have generated bullish divergences. TFUEL has reclaimed the $0.022 area and validated it as support.
TFUEL is now approaching the resistance line of the channel, from which it’s likely to overtake.
For BeInCrypto’s latestbitcoin(BTC) analysis,click here. || The Crypto Daily – Movers and Shakers – June 23rd, 2021: Bitcoin , BTC to USD, rose by 2.68% on Tuesday. Partially reversing an 11.01% slide from Monday, Bitcoin ended the day at $32,572.0. A mixed start to the day saw Bitcoin rise to an early morning intraday high $33,368.0 before hitting reverse. Falling short of the first major resistance level at $34,583, Bitcoin slid to an early afternoon intraday low $29,247.0. Bitcoin fell through the first major support level at $30,119 before revisiting $33,300 levels. Continuing to fall short of the day’s major resistance levels, Bitcoin eased back to end the day at sub-$33,000 levels. The near-term bullish trend remained intact in spite of the latest slide back to sub-$30,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day for the majors on Tuesday. Polkadot and Ripple’s XRP slid by 9.13% and by 10.79% to lead the way down, with Crypto.com Coin sliding by 8.18%. Binance Coin (-3.22%), Bitcoin Cash SV (-5.84), Cardano’s ADA (-1.50%), Chainlink (-3.47%) and Litecoin (-3.67%) also saw struggled. Ethereum fell by a modest 0.20% on the day. Early in the week, the crypto total market rose to a Monday high $1,488bn before falling to a Tuesday low $1,128bn. At the time of writing, the total market cap stood at $1,254bn. Bitcoin’s dominance fell to a Monday low 45.03% before rising to a Tuesday high 47.97%. At the time of writing, Bitcoin’s dominance stood at 48.15%. This Morning At the time of writing, Bitcoin was. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a bearish start to the day. At the time of writing, Cardano’s ADA was down by 2.36% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to avoid the $31,729 pivot to bring the first major resistance level at $34,211 into play. Support from the broader market would be needed for Bitcoin to break back through to $34,000 levels. Story continues Barring a broad-based crypto rebound, the first major resistance level would likely cap any upside. In the event of another extended crypto rally, Bitcoin could test the second major resistance level at $35,850. A fall through the $31,729 pivot would bring the first major support level at $30,090 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of $29,000 levels. The second major support level sits at $27,608. This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Prediction – Prices Consolidate as the Dollar Eases European Equities: Private Sector PMIs for June to Provide Direction Crude Oil Price Forecast – Crude Oil Continues to Look Buoyant US Stock Market: Big Tech Growth Stocks Drive NASDAQ Composite to Record High Today’s Market Wrap Up and a Glimpse Into Wednesday Bitcoin Crash Update – Prices Holding Critical Support Near $28,000 || And just like that, Bitcoin, Ethereum and Dogecoin bounce back: Wednesday’scollapseof the cryptocurrency markets didn’t last very long.
A broad rally among digital currencies has brought Bitcoin, Ethereum, Dogecoin, andmany othersnearly the point at which they were beforeyesterday’s crash—and, in some cases, slightly higher.
Bitcoin was up 13% in the past 24 hours as of 11:15 a.m. ET,according to Coindesk. Ethereum saw gains of 11%. And Doge was up nearly 14%.
Subscribe to The Ledgerfor expert weekly analysis on fintech’s big stories, delivered free to your inbox.
In terms of real dollars, Bitcoin started trading at $42,906 on Tuesday and currently is trading at $42,063. Ether, the cryptocurrency associated with Ethereum, has done slightly better, inching up on $2,948 compared to a Tuesday start of $2,880. And Doge, which started at 39 cents Wednesday, currently stands at 42 cents.
The whiplash-inducing turnaround follows a day of record volume for Ether and Bitcoin. There doesn’t appear to be a single catalyst for the broader turnaround, but it’s mirroring Wall Street, where the [hotlink]Dow[/hotlink] and [hotlink]Nasdaq[/hotlink] are showing notable early gains on Thursday as well.
Dogecoin, though, might once again have Elon Musk to thank for its rally, at least partially. Early Thursday, Musk mentioned the crypto projectno one was meant to take seriouslyin a Tweet.
The volatility likely isn’t over for cryptocurrencies.China’s crackdown on digital currencyis still in effect and the overall lack of fundamentals will continue to be a concern with corporate investors, even as individual investors continue to buy and hold the tokens.
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This story was originally featured onFortune.com || Sotheby's diamond auction marks another bitcoin milestone: (Reuters) - A rare pear-shaped diamond that is expected to fetch up to $15 million can be bought at auction next month using cryptocurrencies, Sotheby's announced on Monday.
Sotheby's said it would be first time a diamond of such size has been offered for public purchase with cryptocurrency. No other physical object of such high value has previously been available for sale with cryptocurrency, the auction house added.
The 101.38-carat pear shaped flawless diamond, dubbed The Key 10138, is one of just ten diamonds of more than 100 carats ever to come to auction, only two of which were pear-shaped.
It carries a pre-sale estimate of $10 million - $15 million and will be sold on July 9 in Hong Kong. Bitcoin or ether, along with traditional money, will be accepted as payment.
“This is a truly symbolic moment. The most ancient and emblematic denominator of value can now, for the first time, be purchased using humanity’s newest universal currency," Patti Wong, chairman of Sotheby's Asia, said in a statement.
Cryptocurrencies have had a volatile year, with explosive growth and major tumbles. In the United States, the National Republican Congressional Committee last week said it will accept donations in cryptocurrency; El Salvador this month became the first country to adopt Bitcoin as legal tender.
Sotheby's in May sold a Banksy for $12.9 million in the first instance of a work of physical art sold by a major auction house that was bought with cryptocurrency.
Sotheby's said that the past year has seen strong demand for white diamonds, jewels and other luxury items, particularly from younger people, including those in Asia.
The name of the colorless diamond - Key 10138 - is intended to reflect the integral role that keys occupy in the world of cryptocurrencies.
Pear-shaped diamonds are among the most sought after. The 530 carat Cullinan 1 diamond, which forms part of Britain's Crown Jewels, is the most famous example.
The top price paid for a colorless diamond at auction was a 118.28 carat oval that went for $30.8 million at Sotheby's in Hong Kong in 2013, with a record price per carat of $260,252.
(Reporting by Jill Serjeant; Editing by David Gregorio) || Industry-First, Low Fee, No Spread Derivative Trading Platform - Bitnext: Bear market Or NEW opportunity DISTRITO DE PANAMA, PANAMA / ACCESSWIRE / June 28, 2021 / According to CoinMarketCap ‘s data, the spot market data dropped significantly after May 19, some of tokens even exceeded 50%, especially the main coins, including BTC, ETH, etc. The cryptocurrency market volatility has brought a lot of negative sentiment to the market, making many cryptocurrency enthusiasts and followers a little concerned. DeFi and NFT, which is the most innovative field in the cryptocurrency market, have also suffered heavy losses. According to DeFi Pulse latest data, the top 10 global DeFi projects, including Aave, Curve Finance, Compound, Maker, etc., and the data[1] has declined to varying degrees. As we know, the DeFi project has brought batches of beginning traders in various countries and regional markets from early 2020. DeFi also brings the power and passion to the entire blockchain and cryptocurrency ecosystem. Traditional financial investment company, funds, venture capital, and even institutional Investors begin to focus on investing in cryptocurrencies. More and more trading platforms begin to provide service for the DeFi tokens, such as spot trading pairs, contract trading pairs, staking, liquidity pools, lending service, etc. As a spot trading investor and beginners, without a comprehensive understanding of blockchain technology, you can also enjoyhuge profits simply through spot trading. This kind of thing has not being uncommon in 2017. In the bull market, beginners can simply register an account on any trading platform and easily buy BTC, or use BTC for getting rewards in many ways. However, how do we help traders to maintain continuous earnings in the bear market? How does the spot trade when the price drops? Here, it involves higher trading knowledge and the new field that involves contract trading. Contract trading is already the mainstream trading method in cryptocurrency trading. It can be simply explained as: the use of a limited principal as margin and leverage to carry out buying and selling. Story continues You can go through CoinMarketCap ‘s data to understand the market situation which is the data ranking of global contract trading platforms. Even in the so-called bear market, the trading volume of contract trading platforms can easily and simply have a large increase. In other words, traders can also indeed make profits through the bear market by trading contract. Industry-First, Low fee, No spread derivative trading platform On June the 1st, 2021, the world's first low handle fee and zero spread trading platform Bitnext finally launched. Bitnext uses the Zero-Cut system to create a more assured and comfortable trading environment for traders. Traders can use BTC as margin to trade BTC and ETH. Bitnext ensures high-performance system configuration and engine to keep the accuracy, stability and speed of your orders. Register here Features of Bitnext High-Security, Low-Risk According to the previous data analysis, you can obviously know that almost all contact trading platforms are based overseas. Therefore, the most important thing here is the security when traders use the service. The Bitnext team has a solid security system to protect traders' assets and ensure fast and smooth transactions. Bitnext also helps traders to conduct transactions in the most comfortable way. Low-Transaction Fee, High-Leverage up to 100x Bitnext trading platform has set up a low-transaction fee, Maker Fee: 0%, Taker Fee: 0.05%, very expressive. It is also very easy to start for beginners who are contract traders. It supports BTC, ETH, FX trading pairs, etc. Additionally, it can also provide up to 100 times leverage. It is worth emphasizing that for Bitnext's FX trading pairs, the transaction fee is only $1. Currently, it supports trading pairs: USD/JPY, EUR/USD, EUR/JPY, GBP/JPY, GBP/USD, EUR/GBP, USD/CNH, GOLD(XAUUSD). Register here No-spread, Up-to-Date data Most traders willingly choose to use the trading platform which has a small spread of the order price in order to increase profits. Bitnext presently has released the TradingView market data and real-time synchronization; traders can easily check all transaction data on the PC version. Currently, Bitnext provide 2 trading pairs for cryptocurrency, BTC/USD and ETH/USD. The price of BTC/USD is calculated from data from Kraken, Coinbase, and Bitfinex. The price of ETH/USD is calculated from data from Kraken, Coinbase, and Binance. Traders can keep the data up-to-date with minimal spreads. High-Speed, Various-Order options Bitnext supports multiple ways to open orders, such as FOK IOC GTC. In addition, you can set stop-profit and stop-loss when you open orders. Bitnext uses the fastest transaction system and the most secure wallet to save traders' assets. It can guarantee a smooth and fast transaction as well. Global Platform, Multi-language service In order to meet the needs of global traders from around the world, Bitnext currently provides 3 language services, English, Chinese and Japanese. It also provides a 24-hour mail service for answering and supporting traders' questions in various time zones. Bitnext focuses on improving traders' trust and satisfaction. Guild Team, Battle-Rewards Bitnext provides a platform for Guild teams to communicate together. Traders can build up a team of 15 members at maximum. Bitnext will host team battles events irregularly. Guild can join in the events, contract trading, and traders can also get team bonus through monthly events in the future. Three ways to win BTC rewards with Guild Team Upgrade guild level Transaction volume battle Trading battle In general, contract traders mostly trade alone, and there are less opportunities for communication. Bitnext provides traders with a platform for trading and communication, which can increase traders' team combat awareness, cohesion, and trust. Additionally, traders create the guild team and lead the team to win rewards together. Recruiting Guild Team Leaders We provide the following services to assist Guild Team Leaders: Professional service support 3 layer system Commission High commission rate Exclusive fee discount Marketing support Check More If you are a beginning contract trader, Bitnext provides you with the lowest transaction fee. So that you can open an order with 0 spreads, you can gradually join the world of contract trading under the premise of reducing risk. If you are a professional contract trader, Bitnext provides you with a variety of trading pairs, a variety of order methods to meet your professional requirements. You can also build up a team and lead beginning traders to win rewards together. CONTACT: BITNEXT INC. Distrito de Panamà - PANAMÁ Official: https://bit-next.com/guild Contact: ib@bit-next.com Register here SOURCE: BitNext View source version on accesswire.com: https://www.accesswire.com/653418/Industry-First-Low-Fee-No-Spread-Derivative-Trading-Platform--Bitnext || Mastercard (MA) Buys Ekata for Digital Identification Services: Mastercard Incorporated MA has acquired Ekata, a digital identity verifier, for $850 million. The acquisition will bolster the company’s identity verification capabilities to protect merchants and consumers from possible frauds. Ekata will help verifying customer details and credentials remotely. These checks are required at the time of online account opening, making payments and other digital transactions. Verified data also aids in greater financial inclusion and development of economy. The solution seems to be a perfect fit for Mastercard, given its global expertise, an array of identity verification services and machine learning technology. This when integrated with the fraud prevention and digital identity programs of Mastercard will provide full security to digital payments at a time when cybercrime is on the rise. Global Identity Verification Market Set to Grow According to ResearchAndMarkets.com, the global identity verification market is expected to expand from $ 7.6 billion in 2020 to $15.8 billion by 2025, seeing a CAGR of 15.6% during the forecast period. The major growth drivers for the market include increasing digitization initiatives, rising fraudulent activities and identity theft during the last decade, and higher use cases of digital identities among verticals. However, price disparity in identity verification solutions and services may restrain market growth. Tech-Driven World Reinforces the Need for Digital Identification Digital payment was frequent even before the pandemic had struck but the current situation definitely accelerated the trend, leading to a rapid boom in ecommerce as people took to remote shopping to stay away from the infectious COVID-19. The momentum is likely to continue ramping up digital payments. Digital payments comprise payment transactions carried out using a variety of electronic modes, such as cards, mobile or internet-based set ups to send and receive money. With the rollout of 5G technology, more devices will be enabled with payment capabilities. Machines, devices and even objects will actively participate in transactions Story continues Though digital payments make transaction easier for all the parties in the whole ecosystem, it exposes them to greater risks involving identity theft, money laundering and other fraudulent activities. Thus, transactions move to an increasingly automated experience while the user trust is necessary for the ecosystem to flourish. Last few years saw a spike in online fraud, theft and hacking, thus making the payments industry most vulnerable. A large chunk of customers’ sensitive data is always at risk, making their finances highly susceptible to attacks. For customers, security of their transaction is paramount and the companies giving full assurance of the same will be most reliable. A payment network providing multiple layers of safety is considered the ideal facilitator. Therefore, management of leading companies is always on toes to keep enhancing security with updated features and solutions. Other Players Gearing Up Another payment processor, namely Visa Inc. V launched the Advanced Identity Score last year to minimize digital identity frauds. Also, payment service providers like American Express Company AXP and PayPal Holdings, Inc. PYPL came up with digital tools or made investments to upgrade their digital identity capabilities. While the American Express unit Accertify launched an API-based solution for controlling fake online account openings and account takeovers, PayPal made substantial investments to use blockchain technology for boosting its digital identity suite. Zacks Rank and Price Performance Shares of this company have gained 24.6% in a year compared with the industry’s rally of 14.1%. Zacks Investment Research Image Source: Zacks Investment Research The stock presently Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Express Company (AXP) : Free Stock Analysis Report Mastercard Incorporated (MA) : Free Stock Analysis Report Visa Inc. (V) : Free Stock Analysis Report PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Goldman Sachs Report Projects Coinbase Stock Will Climb to $306, Looks to DeFi and Beyond: Goldman Sachs analysts presented the bull case for Coinbase Monday with a sweeping report that highlighted upsides across the nascent crypto economy.
Calling Coinbase’s newly listed COIN stock the “best way to gain exposure to the expansion of the crypto-native ecosystem,” the 54-page report provides analysis of decentralized finance (DeFi), competing centralized exchanges and brief overview of everything fromdogecoin(DOGE) tomonero(XMR) to non-fungible tokens (NFTs).
The “Buy” rating and $306 price target for COIN comes as Goldman Sachs ramps up itscrypto trading deskwithbitcoinfuturesand other products. However, the report suggests that at least Goldman’s research unit is apprising some of the more exotic corners of the crypto market.
Related:Coinbase Hires Goldman Sachs Exec to Ramp Up Policy Push in Washington
“The development of DeFi applications is still in its infancy, and relative to the nearly ~$2+ trillion market cap for crypto currencies, the total value of crypto on DeFi applications is still relatively low at just ~$67bn,” Goldman Sachs’ Will Nance and Onkar Gandhi wrote, adding:
“That being said, we believe they represent important proofs of concept for more complex applications in the future. One of the most important features of many of these protocols, in our view, is that many DeFi applications have native “governance tokens” (for example,UNIfor Uniswap, COMP for Compound) that allow the holders of the token to vote on changes to the protocol’s operations.”
Though DeFi is seen as a competitor to centralized entities like Coinbase, the analysts said its growth has considerable potential to expand the crypto economy, and Coinbase’s business with it.
“Should this occur, though this is not part of our forecast, we believe that the ecosystem has the potential over time to drive meaningful amounts of activity and commerce,” Nance and Gandhi said.
Related:Goldman’s Crypto Chief Worries About Fraud, but Not Cryptocurrency’s Future
Crypto as whole, they said, has the potential to “expand the market size of financial activities in the traditional financial industry.”
Goldman analysts said retail trading transaction revenue is likely to dominate Coinbase’s near-term profits. They projected the company controls as much as 30% market share among fiat-driven exchanges.
The cash flow could shift if Coinbase’s fee model, already facing pressure from competitor exchanges, is forced to adopt lower pricing. Crypto market volatility would be good for business: more users tend to trade higher volumes during swings, meaning more fees, meaning more transaction revenue.
Coinbase’s world-leading custody business is a “cornerstone” product well-positioned to capture a steady flow of institutional newcomers. And staking revenue could boom with more chains swapping their consensus mechanism and Coinbase taking a 25% cut. Ethereum’s transition to proof-of-stake “could be a significant driver of staking revenue going forward.”
Other potential growth areas: payments, non-fungible tokens and lending products. There’s “significant white space” for new products, the analysts said.
Goldman projects earnings per share of $8.09 for full year 2021, $4.90 for 2022 and $4.95 for 2023. These estimates come just under analyst consensus of $8.16, $4.96, and $5.80 for each year respectively.
With COIN down 33% since its April listing, Goldman Sachs hedged its bullishness by illustrating how regulatory headwinds could slash token prices. Lower levels of crypto volatility could also negatively hit COIN’s revenue, the analysts said.
They gave COIN 36% upside as the best “blue-chip” vehicle for chasing the crypto economy.
COIN is trading at $226 as of press time.
• The May 19 Sell-Off Actually Strengthened Bitcoin’s Narrative
• Coinbase in Talks to Buy Asset Manager Osprey Funds: Sources || UPDATE 1-Does money grow on volcanoes? El Salvador explores bitcoin mining: (Adds Bukele tweet on water vapor; context) June 9 (Reuters) - El Salvador's President Nayib Bukele said on Wednesday that he has instructed state-owned geothermal electric firm LaGeo to develop a plan to offer bitcoin mining facilities using renewable energy from the country's volcanoes. El Salvador became the first country in the world to adopt bitcoin as legal tender after its Congress approved Bukele's proposal to embrace the cryptocurrency. "This is going to evolve fast!" Bukele said on Twitter. The Central American leader's announcement has put a spotlight on the environmental impact of cryptocurrencies, which are virtual coins exchanged without middlemen, such as central banks, to purchase goods and services. The process of extracting the currency from cyberspace, however, requires vast amounts of energy. The global bitcoin industry's overall C02 emissions have risen to 60 million tons, equal to the exhaust from about 9 million cars, according to a March report by Bank of America analysts. Later on Wednesday, Bukele shared a video on his Twitter account showing a powerful plume of what he said was pure water vapor projected into the air from a pipeline. "Our engineers just informed me that they dug a new well, that will provide approximately 95MW of 100% clean, 0 emissions geothermal energy from our volcanoes," Bukele said. "Starting to design a full #Bitcoin mining hub around it," he added. Bukele also changed his Twitter profile photo to an edited image of himself with blue laser eyes, a popular internet fad among supporters of cryptocurrency. His previous photo, updated when he announced his intention to send a bill to make bitcoin legal, featured him with red laser eyes. (Reporting by Anthony Esposito and Cassandra Garrison Editing by Marguerita Choy) View comments || Kraken to No Longer Offer Margin Trading for US Investors Who Don’t Meet ‘Certain’ Requirements: Cryptocurrency exchange Kraken said it will no longer offer margin trading for U.S. clients who do not meet certain requirements.
• In ablog postWednesday, Kraken said the changes are due to regulatory guidance about leveraged digital asset transactions.
• The exchange didn’t specify what those new requirements are, just that they will be communicated via email.
• Kraken said its clients outside of the U.S. at the Intermediate and Pro verification levels will not be affected.
• Non-U.S.-based clients in the Starter tier must become verified to the Intermediate tier to continue margin trading, said the exchange.
• Any open margin positions by starter tier clients and U.S. clients that have not met the new criteria will expire 28 days after the time they were opened if they haven’t been settled by June 23.
• The exchange is alsoreportedlyin talks to raise capital in a new funding round that could increase its valuation to $20 billion.
Read more:Kraken Crypto Exchange Releases Mobile App in US
• Bram Cohen’s Chia Drives Hard Disk Demand in Europe: Report
• Kraken Now Lets Users Back Contender Projects on Polkadot’s Kusama Platform
• MicroStrategy to Offer $400M in Notes to Buy More Bitcoin Even as It Warns of $284.5M Impairment
• 21Shares to List Bitcoin ETP in London on Aquis Exchange
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
These Threats Can Hurt NVIDIAs Rapid Growth: NVIDIA (NASDAQ: NVDA) was one of the biggest winners on the stock market in 2017, rising 82% as demand for its graphics processing units (GPUs) spiked thanks to their usage in emerging applications such as machine learning and artificial intelligence. Not surprisingly, Wall Street expects the graphics specialist to extend its run this year. Investment bank firm Evercore ISI expects the chipmaker's stock price to hit $250 in the near term, a 30% increase from where it ended 2017. It wouldn't be surprising if NVIDIA stock hits that price, but investors need to keep a close watch on a couple of threats that could knock the wind out of its sails. An abstract depiction of an artificial intelligence through an android. Image Source: Getty Images. Artificial intelligence will get more competitive NVIDIA has been one of the pioneers in the field of artificial intelligence, stealing a march over its rivals thanks to its GPU expertise. The company's GPUs have been widely adopted in data centers and other applications because of their massive computational power, which is derived from the thousands of cores present inside. This makes GPUs suitable for running multiple heavy workloads simultaneously, while keeping costs under control. For instance, an NVIDIA GPU has close to 4,000 cores as compared to less than 30 cores on flagship Intel (NASDAQ: INTC) server CPUs. So, GPUs are the preferred choice to run AI workloads in data centers. NVIDIA has capitalized impressively on this trend, as evident from the massive 108% year-over-year revenue growth in its data center segment last quarter. But the graphics specialist's juggernaut could be halted by the advent of new technologies and competitors. Field-programmable gate arrays (FPGAs), for instance, could pose a serious challenge to GPUs in the AI space. An FPGA can be reprogrammed to perform a variety of tasks after it is manufactured, and they are more energy-efficient. This makes them ideal for deployment in large-scale server settings. Moreover, the flexible architecture of an FPGA will allow developers to explore different AI training models, which isn't possible on a fixed-architecture GPU that's programmed to perform specific tasks. In fact, Allied Market Research forecasts that the demand for FPGA chips will grow at a faster pace than GPUs for powering AI applications over the next five years. Story continues So, it is not surprising to see Intel is betting big on FPGAs , posing a potential threat to NVIDIA. On the other hand, Alphabet has taken potshots at NVIDIA, claiming that its second-generation Tensor Processing Unit (TPU) AI chip is 15 to 20 times faster than existing GPUs, and is available for use by its cloud customers. It is important to note that Alphabet's Google Cloud Platform has traditionally used NVIDIA's Tesla GPU accelerators. All this means that the competition for AI chips is going to get more intense. NVIDIA will feel the pain in automotive NVIDIA has built a lot of hype around its self-driving car work, boasting of numerous partners and an early contract at electric-vehicle maker Tesla . But it's been all show and no go for the chipmaker as its automotive business has hit a roadblock, growing just over 13% in the last-reported quarter. NVIDIA isn't the go-to stock to take advantage of connected and self-driving cars anymore. Intel, for instance, has cut NVIDIA's first-mover advantage in self-driving cars quite spectacularly. Chipzilla has built a really strong ecosystem of clients and partners after its Mobileye acquisition, and seems ready to move into lucrative markets such as ride-sharing services. Moreover, Intel could start selling an off-the-shelf driverless car system as soon as next year thanks to its Mobileye acquisition. Mobileye has partnered with Delphi to create a Level 4 autonomous driving system , which needs human intervention only in certain circumstances and is just one level below full automation. This self-driving car platform is expected to be ready by next year, indicating that the competition in the automotive space is going to intensify. Moreover, Mobileye is planning to open up its design architecture . The company has abstained from doing this so far, and this has kept some automakers and component suppliers from joining its ecosystem. But all this could change once Mobileye allows automakers access to its designs. So, NVIDIA needs to be wary of the competition in these two fast-growing areas. The company's terrific growth in the gaming and data center markets has made it a stock market darling over the past year or so, but savvy investors shouldn't forget the potential challenges that it faces. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Nvidia, and Tesla. The Motley Fool recommends Cypress Semiconductor and Intel. The Motley Fool has a disclosure policy . || Cramer: Bitcoin's futures launch is a 'very big victory' for the digital currency: The launch of bitcoin (Exchange: BTC=) futures on the Cboe Futures Exchange over the weekend was a "very big victory" for the digital currency, CNBC's Jim Cramer said Monday. Bitcoin futures, trading under the ticker symbol XBT, debuted Sunday night on the Cboe . The futures price climbed 10 percent in the first two hours and triggered at least two trading halts due to rapid price gains. "I was hoping we'd get some price discovery. If this is the price discovery, it can head much higher," Cramer said on " Squawk on the Street ." "This is a very big victory for bitcoin last night," Cramer said, "and I think a lot of people felt it would be inconceivable that when you had a two-sided market that somebody would come in. We do have other exchanges coming in." CME is launching bitcoin futures contracts on Dec. 18. Reports that claimed bitcoin could eventually replace gold as a repository also helped the cryptocurrency "mightly," he said. Cramer has been a vocal critic of bitcoin, warning investors that it's like "'Monopoly' money" and people would be better off going to Las Vegas. Critics, including JPMorgan Chase CEO Jamie Dimon , have doubted the legitimacy of bitcoin. Proponents argue bitcoin is a good medium of exchange and a way to store value like gold. Cramer said Monday that "so many people" who wanted the cryptocurrency to go higher and were overwhelmed by "any short interest, short attempts, to drive it down."WATCH: Bitcoin could be the biggest bubble in history – here's how The launch of bitcoin (Exchange: BTC=) futures on the Cboe Futures Exchange over the weekend was a "very big victory" for the digital currency, CNBC's Jim Cramer said Monday. Bitcoin futures, trading under the ticker symbol XBT, debuted Sunday night on the Cboe . The futures price climbed 10 percent in the first two hours and triggered at least two trading halts due to rapid price gains. "I was hoping we'd get some price discovery. If this is the price discovery, it can head much higher," Cramer said on " Squawk on the Street ." "This is a very big victory for bitcoin last night," Cramer said, "and I think a lot of people felt it would be inconceivable that when you had a two-sided market that somebody would come in. We do have other exchanges coming in." CME is launching bitcoin futures contracts on Dec. 18. Reports that claimed bitcoin could eventually replace gold as a repository also helped the cryptocurrency "mightly," he said. Cramer has been a vocal critic of bitcoin, warning investors that it's like "'Monopoly' money" and people would be better off going to Las Vegas. Critics, including JPMorgan Chase CEO Jamie Dimon , have doubted the legitimacy of bitcoin. Proponents argue bitcoin is a good medium of exchange and a way to store value like gold. Cramer said Monday that "so many people" who wanted the cryptocurrency to go higher and were overwhelmed by "any short interest, short attempts, to drive it down." WATCH: Bitcoin could be the biggest bubble in history – here's howMore From CNBC
• The smart play on bitcoin: Don't mine the gold, sell the picks and shovels
• AlphaOne's Dan Niles: Here's how to play bitcoin
• What's next for bitcoin futures following Cboe launch || Bitcoin warnings grow more strident as Singapore urges 'extreme caution': By Masayuki Kitano and Jemima Kelly SINGAPORE/LONDON (Reuters) - Global financial regulators are beginning to warn the public against the risks of investing in a market that many feel is in a speculative bubble, with Singapore's central bank on Tuesday urging "extreme caution" about buying cryptocurrencies. The staggering growth of bitcoin and other decentralised digital currencies this year - with the market swelling from around $17 billion at the start of January to well over $600 billion now - has led to increasing concerns over what the fallout could be if the bubble were to suddenly burst. There have also been worries that regulators have not been doing enough to protect consumers. Many, though, say investors must take responsibility and must not expect protection if they lose money because of the difficulties of regulating an opaque, complex market that has no centralised authority. The Monetary Authority of Singapore (MAS) said in an official statement on Tuesday it is "concerned that members of the public may be attracted to invest in cryptocurrencies, such as bitcoin, due to the recent escalation in their prices". "MAS considers the recent surge in the prices of cryptocurrencies to be driven by speculation," the central bank said in a statement. "The risk of a sharp reduction in prices is high. Investors in cryptocurrencies should be aware that they run the risk of losing all their capital." The city-state's central bank added that there is no regulatory safeguard for investments in cryptocurrencies and that it does not regulate them either. It urged the public to act with "extreme caution" and to understand the "significant risks" they take on if they invest in virtual currencies. Denmark's central bank on Monday said bitcoin investing was "deadly", warning the public to steer clear of it. It also said potential investors should not complain to financial regulators if things do go wrong. A survey by the Centre for Macroeconomics and the Centre for Economic Policy Research released on Tuesday found a majority of leading European economists were in favour of greater regulatory oversight of the market, primarily because of concerns that cryptocurrencies facilitate tax evasion and other criminal activity. But a large majority of the economists agreed that the market did not represent a threat to the stability of the financial system - now or in the next couple of years - as mainstream financial markets were isolated enough from bitcoin. They also took the view that the cryptocurrency market was still relatively small. European Union states and legislators agreed last week on stricter rules to prevent money laundering and terrorism financing on exchange platforms for bitcoin and other virtual currencies, but it has not moved to regulate the market beyond that. Late in 2013, the EU issued a formal warning on the risks of using unregulated online currencies, warning that bitcoin investors would be on their own if they lost money. Bitcoin set a record high of $19,666 on Sunday on the Luxembourg-based Bitstamp exchange, its prices having surged more than twentyfold this year. On Tuesday at 1447 GMT, it stood at $17,942, down more than 5 percent on the day. BIG IN ASIA "As most operators of platforms on which cryptocurrencies are traded do not have a presence in Singapore, it would be difficult to verify their authenticity or credibility. There is greater risk of fraud when investors deal with entities whose backgrounds and operations cannot be easily verified," the MAS said on Tuesday. Singapore has been positioning itself in recent years as a capital for "fintech" - or financial technology - but it is not a centre for cryptocurrency trading. Instead, Japan and South Korea are home to some of the biggest global exchanges, and investors there have piled into the market over the past year. South Korea said last week that it will ban minors from opening accounts on exchanges, a statement seen by Reuters showed, and that it may tax capital gains from cryptocurrency trading. Japanese Finance Minister Taro Aso said on Tuesday that bitcoin had not been proven to be a credible currency and that he would watch its developments. Australia's central bank chief also last week warned of a "speculative mania" in the market, while his New Zealand counterpart said bitcoin appeared to be a "classic case" of a bubble and cast doubt on its future. The chairman of the U.S. Securities and Exchange Commission (SEC) warned last week that trading and public offerings of new cryptocurrencies in so called "Initial Coin Offerings" or "ICOs" may be in violation of federal securities law, after stopping one from going ahead. China has outlawed ICOs, while other regulators such as Britain's Financial Conduct Authority have issued warnings about the risks of investing in them. On Sunday, France's finance minister said his country would propose that the G20 group of major economies discuss regulation of bitcoin next year. (Reporting by Masayuki Kitano and Jemima Kelly; Editing by Richard Borsuk and Hugh Lawson) || Coinbase may have given away its own Bitcoin Cash surprise: On Tuesday, when Bitcoin Cash hit Coinbase , the popular user-friendly U.S.-based exchange, cryptocurrency's reputation as the financial wild west was on full display. While anyone following along was well aware that Coinbase planned to add Bitcoin Cash , the currency created in August's Bitcoin hard fork , things still got weird immediately. After some suspicious pre-launch climbing, Bitcoin Cash's Coinbase launch immediately saw prices soar to almost three times those listed on other exchanges. That "significant volatility" led Coinbase to freeze transactions for its newest asset, creating plenty of confusion in the process. Just a few hours later, the company disclosed that the chaos had prompted an insider trading investigation , a surprising concession after some in the cryptocurrency world cried foul (to be fair, they are often crying foul). While it's not yet wholly clear what was going on, many digital currency enthusiasts have pointed to a Reddit thread from three days ago titled " ATTN: Bitcoin Cash added to Coinbase API (EXTREMELY BULLISH) " that claims to have spotted evidence of Bitcoin Cash's addition on a Coinbase API key permissions screen. Given its broad disinterest in regulatory norms and preponderance of first-time investors, doctored screenshots trying to nudge prices one way or another are fairly common within the cryptocurrency community. Still, many Reddit users appeared to lend this particular thread enough credence to check it out for themselves. (Unfortunately, as Bitcoin Cash is now live, we weren't able to verify the listing's early appearance in the API.) reporting myself to SEC for looking at the coinbase API 3 days before bitcoin cash launch its not about winning, its about doing the right thing pic.twitter.com/Tg9v3ZS5Wa — lil spoofy the bripto trader (@Lil_Spoofy) December 20, 2017 Story continues Again, Coinbase users knew that Bitcoin Cash was coming by January 1, 2018 — the deadline Coinbase gave itself in August — but most users assumed that the new coin would be withdrawal-only, letting Coinbase users who stored Bitcoin on the exchange at the time of the fork get their trapped Bitcoin Cash out of the platform. As Coinbase stated in its August 3 blog post : We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time. Once supported, customers will be able to withdraw bitcoin cash. We’ll make a determination at a later date about adding trading support. In the meantime, customer bitcoin cash will remain safely stored on Coinbase. Reddit's /r/btc community took the API breadcrumb as a signal that both narrowed Bitcoin Cash's looming Coinbase timeline and provided evidence that Coinbase intended to add trade options for the currency — a significant sign of adoption that would surely influence the altcoin's price across exchanges. "If you're a programmer you know this is a very strong sign that Bitcoin Cash will receive full integration and not just withdrawals," one Redditor stated in the thread's replies. Given its mainstream appeal and extreme ease of use relative to other exchanges, Coinbase is something of a cryptocurrency kingmaker. For any digital currency gaining Coinbase trading support, volume and prices would widely be expected to soar as the news spread. Obviously, anyone paying attention to potential Coinbase API hints or other subtle backend signals is likely doing so with the intent to cash in on such a surge. "We can’t verify the screenshot. But we publicly announced we would be supporting Bitcoin Cash in August, so it would be expected that Bitcoin Cash would appear on the API at some point," a Coinbase spokesperson told TechCrunch in response to questions about the incident. Whatever really went down, the situation demonstrates how Coinbase's decision to add any cryptocurrency makes for a very delicate rollout indeed. The company plans to introduce more altcoins on its platform in the coming year, so it will have ample opportunity to learn from its rocky, semi-surprise introduction of Bitcoin Cash on December 19. Like many things in the digital currency world, cryptocurrency market forces are often even stranger and more inscrutable than their traditional financial counterparts. There might not be one single explanation for Bitcoin Cash's controversial pop on Tuesday, but the situation serves as yet another cautionary tale of the unique chaos of cryptocurrency, a financial realm where the rules are being written as they're broken. Disclosure: The author holds a small position in some cryptocurrencies, mostly because it seemed like a fun idea back in 2013 and then she forgot about it. Regrettably, it is not enough for a Lambo. Related: Watch original series, sports and more on go90. This article originally appeared on TechCrunch . || PriceSmart's First-Quarter Sales Grew 4%: International warehouse club PriceSmart (NASDAQ: PSMT) kicked off its 2018 fiscal year with an earnings report that included steady sales growth and healthy membership trends even as rising costs sent net income lower. Here's how the headline results from the report released this week stacked up against the prior-year period: Metric Q1 2018 Q1 2017 Year-Over-Year Change Revenue $767.1 million $739.6 million 4% Net income $22.5 million $24.9 million (10%) Earnings per share $0.74 $0.82 (10%) Data source: PriceSmart. What happened this quarter? PriceSmart benefited from a continued rebound in its Colombian market in the quarter, and from improvements in the weak selling environments in Barbados and Trinidad, which had been a drag on results in previous quarters. A customer walking the aisles at a warehouse store. Image source: Getty Images. Highlights of the period include: Comparable-store sales gains inched up to 2.2% from 1.9% in the previous quarter. PriceSmart's comps have increased by roughly 2% in each of the last four quarters. The retailer's Colombian segment grew by double digits thanks to improving market conditions and a steady currency. Its Caribbean segment also contributed strong growth as its warehouse on the U.S. Virgin Islands beat many rivals in reopening following destructive hurricanes that moved through the area in September. Membership fee income rose 5.7% as PriceSmart's subscriber base increased by 3% and average prices, boosted by an increase in the Colombian membership rate, ticked up. Renewal rates held steady at 87%. Gross profit margin slipped to 14.5% of sales from what management described as an "unusually high" mark of 15% in the prior-year period. Expenses rose as a percentage of sales as the company dealt with challenges brought on by hurricanes Irma and Maria while allocating more resources toward building up its digital sales channel. As a result of the lower gross profit margin and increased costs, operating margin fell to 4.3% of sales from 5.2%, leading to a 10% decline in net income. Story continues What management had to say In a 10-Q filing, PriceSmart's executive team described improving conditions in many of their key markets. "Panama sales were essentially flat," management said, "but all other Central American countries recorded positive growth in warehouse sales for the three-month period." "Our Caribbean segment showed improvement," they continued "while Trinidad, our largest market in the segment, was essentially flat. This was an improvement from negative sales growth experienced in each of the prior four quarters." As for the Colombian segment, management said they have seen "continued sales growth in all of our warehouse clubs in Colombia" and they noted that customer traffic in these stores spiked higher by 12% during the quarter. Looking forward PriceSmart's current fiscal quarter is off to a strong start, with comps jumping 4% in the important month of December. The healthy expansion suggests a continuing rebound across important markets like Columbia and Trinidad that might finally speed its growth pace up from the 2% rate shareholders have seen for over a year. Meanwhile, investors can expect a large, non-cash expense to reduce profits in the second quarter. Because of recent tax law changes, PriceSmart believes it will need to take a significant one-time charge on its accumulated foreign profits to account for the lower U.S. corporate tax rate. The new law should ultimately reduce the retailer's tax liability, but its immediate effect on the books won't be positive. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool recommends PriceSmart. The Motley Fool has a disclosure policy . || Why bitcoin prices vary depending on who you ask: Bitcoin prices are booming, but the market is a hot mess right now. The cryptocurrency soared as high as $19,230 Thursday, according to one exchange ( Coinbase ). Or was the high $16,672, as Yahoo Finances official bitcoin price index says it was? (Its worth noting that Yahoo Finances index is a weighted average with prices drawn from about 60 exchanges, whereas Coinbases price reflects execution prices from only its platform.) The fact is, the cryptocurrency is straining under the weight of a sluggish, outdated infrastructure just as its about to go mainstream. Bitcoin futures are set to launch this Sunday evening on the Cboe Futures Exchange. But after yesterdays chaos, those futures contracts might be dead on arrival. Casino gambling chips decorated with bitcoin logos sit on display at the CrytoSpace conference in Moscow, Russia, on Friday, Dec. 8, 2017. CryptoSpace is Eastern Europes largest conference dedicated to blockchain technology and cryptocurrencies and runs Dec. 8-9. Photographer: Andrey Rudakov/Bloomberg The biggest problem facing bitcoin is that the network is slow. That might not be what youve heard, as the underlying technology, blockchain, is being used in part to speed up transaction times in a wide variety of industries. Bitcoin transaction times can take hours on a good day, and transactions fees have climbed as high as $10. Thats because bitcoin was created way back in 2009 and was designed to allow only 1 MB of transaction data (1 block) to be processed about every 10 minutes. Everyone competes to have their transaction processed as quickly as possible, which bids up the transaction fee. There are ways to speed up the network, but those efforts have run into complications . On top of that, the individual exchanges have been experiencing outages as they scramble to keep up with customer demands. (Coinbase rose to the top of Apples US app store Thursday despite persistent outages that prevented customers from buying or selling bitcoin). Some say the problem* is that there are hundreds of bitcoin exchanges without a central clearing or pricing authority. But having different prices on exchanges whether its bitcoin, stocks, bonds or commodities isnt necessarily a problem. Speculators can arbitrage the different prices, buying on one and selling on another, pocketing the difference. In theory, this arbing brings the prices in line with each other. But in practice, this has been difficult to do with bitcoin because of the slow transaction times and the fact that exchange sites are frequently crashing or simply operating slowly due to high volume. Story continues Big banks and brokers fear bitcoin volatility Enter JPMorgan, Goldman Sachs, Bank of America Merrill Lynch, Morgan Stanley, Citigroup and just about all the other big (and small) brokers on Earth. Theyre represented by the Futures Industry Association (FIA), which Thursday published an open letter to the CFTC, the US futures watchdog, attacking the new bitcoin futures set to launch on the Cboe Futures Exchange and the CME Group. The big brokers care so much because, as clearing members of the exchanges, theyre the ones ultimately on the hook for losses if customers lose money and cant pay. The FIA didnt pull any punches, saying, We remain apprehensive with the lack of transparency and regulation of the underlying reference products on which these futures contracts are based and whether exchanges have the proper oversight to ensure the reference products are not susceptible to manipulation, fraud, and operational risk. The FIA is also criticizing the way the futures exchanges are bringing these bitcoin products to market. They relied on a one-day self-certification procedure that basically allows the exchanges to check off a few boxes and tell the regulators, dont worry, weve done our homework. Thats not good enough for the FIA, which says, Unfortunately, the launching of these innovative products through the 1-day self-certification process did not allow for proper public transparency and input. JPMorgan and co. couldnt have picked a better day to publish this letter, as the cracks in bitcoin infrastructure have never been more publicly visible. According to Fox Business, some big brokers are refusing to let their clients trade the new bitcoin futures until the kinks have been worked out. Others are planning to limit trading access to select clients. These brokers are operating perfectly within their rights. Theyre the ones on the hook. If the CFTC does temporarily put the kibosh on bitcoin futures, that announcement would likely be made today. But even if it doest, come Sunday evening at 6:00 p.m. EST, when the Cboe Bitcoin Futures are set to launch, there might not be anyone trading with size. * Theres also a separate price manipulation issue at play. Asian bitcoin exchanges tend to be less liquid than those in the West, and they can cause wild price swings during overnight trading hours in the West. Similar observations have been made about the gold market for years. || 2 of the world’s biggest chipmakers are sinking as cryptocurrencies get smoked (NVDA, AMD): Markets Insider
• Nvidia and AMD are two of the largest producers of graphics processing unit cards for cryptocurrency mining.
• Both stocks took a hit Friday morning after cryptocurrencies large and small slumped.
Shares ofNvidiaandAMD, two of the world’s largest chipmakers whose businesses have recently been fueled by supplying graphics cards for cryptocurrency mining, are falling Friday morning afteralmost every single cryptocurrency slumped.Some were down by as much as 35%.
NVDA was down 1.52% at $192.92 a share, while AMD was lower by 4.65% at $10.38.
Both companies have profited from the explosion in interest surrounding cryptocurrencies and the necessity of so-called mining, which was born alongside bitcoin in 2009.
Miners quickly figured out the type of math required to mine digital coins was made faster by introducing graphics cards initially used to improve video game graphics. Nvidia, as well as rival AMD, has profited massively from the trend.
Some analysts havealready argued that the two companies' moat was shrinkingas bitcoin and ethereum begin to slow their astronomical ascent, but an RBC Capital Markets analystsaid last week that there’s still room to runon smaller cryptocurrencies that aren’t as large as the big three (bitcoin, ethereum and bitcoin cash).
Unfortunately, even smaller coins were getting smacked down on Friday — and things could really go downhill for Nvidia and AMD from here.
Ethereum, which has a market cap of $60 billion according tocoinmarketcap.com, is contemplating a shift to a "proof of stake" system instead of the industry-standard "proof of work." This means payments on the Ethereum blockchain might soon happen via a sort of voting system rather than a race to find the answer to a complicated math problem, which is the current verification method.That could decimate the impact a GPU has on the mining prices.
Still, Wall Street remains rather bullish on both stocks. Analysts surveyed by Bloomberg give NVDA and AMD prices targets of $224 and $14.60, respectively — both healthy premiums to where they are currently trading.
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• The 29 cryptocurrencies with a market cap of more than $1 billion
• Bitcoin's wild volatility could soon start shaping other markets
SEE ALSO:Sign up to get the most important updates on all things crypto delivered straight to your inbox. || Bitcoin euphoria puts other retail bets in shade: By Ankur Banerjee and Sweta Singh (Reuters) - If you wondered why 18-year old twitterati and seasoned speculative traders alike have bet on bitcoin's surge toward $20,000 this week, look no further than the comparison with the past year's new stock exchange floatations. As the below chart shows, the exchange-traded fund of Renaissance Capital that tracks a basket of newly floated companies after their initial public offerings has delivered a more than respectable 36 percent return so far in 2017. (Graphic: Bitcoin vs IPO ETF vs S&P 500 - http://reut.rs/2jznjVg ) That surpasses the S&P 500 index's (.SPX) 20 percent rise and is far better than last year when IPOs trailed behind an overall index fueled by the Trumpflation trade and the cheap funds being pumped into markets by central banks. Next to Bitcoin, however, it might as well be flat. The cryptocurrency has risen 1700 percent in value in the same period. That means $1000 invested in the U.S. IPO ETF at the beginning of this year was worth $1360 on Tuesday. Preferring bitcoin would have left the average amateur market punter with $17,545. (Graphic: IPO ETF vs S&P 500 - http://reut.rs/2jxWIrw ) The cryptocurrency has faced harsh criticism for lack of transparency and Wall street is largely divided on how it wants to view the currency. Several banks and central bankers have warned against its meteoric rise in its value. Chicago-based derivatives exchange Cboe Global Markets (CBOE.O) launched the futures late on Sunday, lending it some legitimacy and giving investors an exposure to the bitcoin market via a large, regulated exchange. Goldman Sachs has been arguing for some months that the lack of liquidity and increased volatility of bitcoin mean in the long run it cannot rival gold as a convincing term store of value. The market cap for bitcoin is still just $275 billion versus the world's $8.3 trillion worth of gold. (Graphic: Bitcoin vs Gold vs Oil - http://reut.rs/2yi8yas ) (Reporting by Ankur Banerjee and Sweta Singh in Bengaluru) || Energy Annual Market Recap 2017: A Glance at 2017 The EIAs Forecast is Becoming More Bullish OPEC Energy Markets 2018 Forecast WTI Crude oil price will continue to hover near current levels but could see further risk toward higher prices as demand remains solid, and supply divergences offset one another. U.S. production is likely to accelerate again in 2018 unless there are political missteps that derail this outcome. Venezuelan barrels could come off the market as the country falls further into geopolitical chaos. Gasoline demand could be mixed as driving mile declines will likely be offset by increasing exports. OPEC will likely play a large role in future production especially if prices reach historical averages. A Glance at 2017 For most of 2017, traders heard that shale producers were sitting at $50 per barrel and ready to produce as much as they could at these levels. Despite the recent run-up in production to 9.78 million barrels per day, production dropped in the third quarter, in the wake of the three massive hurricanes that affected the United States. The most recent data released by the International Energy Agency and OPEC shows that U.S. shale would increase production by 870K barrels and 1-million barrels a day respectively. These respective production levels would overwhelm demand, but growth could compensate for these increases. Economic growth in the United States is headed for a 3-plus-percent increasing in Q4, which would buoy consumption for petroleum products and liquids. The EIAs Forecast is Becoming More Bullish Separately, the EIA believes there will be supply growth that will also overwhelm demand but at the same time describes the accelerating demand for products driven by gasoline. U.S. demand is at a record high, and refiners are trying to take advantage of this demand by running their refiners at elevated levels. WTI Crude Oil Daily Chart If refinery operations are high then it makes sense that demand for crude oil remains high, as refiners are running at record levels, to take advantage of high refining margins. With cracks at elevated levels, prompt crude oil is getting soaked up. The backwardation in the crude oil term structure shows that prices for February 2018 crude are more expensive than WTI crude oil delivered in December of 2018. Backwardation occurs when current demand is strong, generating an incentive to use crude oil now, and avoid storing it and selling it for a lower price in the future. Story continues OPEC OPEC has been very active, and the most recent extension of their current production quotas have kept the crude oil markets in balance. Production fell in November and put production compliance at a 115% rate, which shows determination from OPEC members. If OPEC can continue to remain vigilant, upward pressure on prices will help offset the weight of increasing shale production. The question oil traders will contemplate is the ability of OPEC to employ consistent compliance throughout 2018. If inventories rebalance quickly there is the chance that cheating will begin. Russia has already stated that if inventories balance to average levels they would like to increase production. Inventory Levels OPECs production tactics will depend on what happens to global inventories. Total commercial stocks declined to put total global stocks at 2,940 million barrels down 40-million which was the lowest in 2-years. If compliance continues the current 100-million barrels surplus will evaporate putting global stocks back in balance. If prices drop, it will incent producers to cheat to recapture revenues. Cheating in tandem with increasing shale production could make rebalancing elusive. The Energy Information Administration said in its recent Short-Term Energy Outlook that inventories will begin to rise in 2018 largely due to growth from U.S. shale. If the Agency is correct, prices will likely move lower. Energy Markets 2018 Forecast Economic growth could be a catalyst that drives oil prices higher. WTI broke through resistance near 55 and has consolidated above that level. The 200-week moving average has been robust resistance as prices hover near that level at 57.76. Prices have not significantly closed above that 200-week moving average since October 2014. Prices could target the $75 level on a close above the 200-week moving average. WTI Crude Oil Weekly Chart If you combine these technicals with rising sentiment that global economic growth will accelerate and OPEC production cuts outpace U.S. Shales production increases, at $75 target could be realistic. This article was originally posted on FX Empire More From FXEMPIRE: US Dollar Index (DX) Futures Technical Analysis Move Under 92.75 Could Trigger Steep Sell-off Hate Risk and Want to Invest in Bitcoin? ETFs, Cryptocurrency Index, and Hedge Funds Are Here to Help Bitcoin Gold DASH and Monero forecast for the week of December 25, 2017, Technical Analysis 2017 Cryptos All-Stars, What Cryptocurrencies You Should invest in 2018? Oil Price Fundamental Weekly Forecast Forties Pipeline Shutdown Remains Supportive Dow Jones 30 and NASDAQ 100 forecast for the week of December 25, 2017, Technical Analysis || Tax Reform Is Done: Here's How It Matters to You: After successfully reconciling different bills passed by the House of Representatives and Senate, respectively, Congress has passed the Tax Cuts and Jobs Act of 2017. It's the first major rewrite of the U.S. tax scheme in over 30 years, and it's packed with changes that could have an impact on your financial planning. Here are some of the biggest changes and how they may affect you.
Up until now, you could claim your mortgage interest on home loans up to $1 million as a deduction. Not anymore. Beginning in 2018, interest on home loans exceeding $750,000 will no longer be deductible. Existing home loans will be grandfathered, if they were closed on before Dec. 15, 2017.
IMAGE SOURCE: GETTY IMAGES.
The act eliminates deductibility for interest on home equity loans and lines of credit, too. Therefore, you'll no longer be able to deduct interest on those loans if you tap your home equity to consolidate debt or make a big purchase.
The law also makes big changes on how much you can deduct in state and local taxes. Previously, you could deduct town and state taxes associated with things like income taxes, property taxes, and sales taxes. That's not necessarily the case anymore. The act caps your state and local deduction at $10,000.
To make up for eliminating many of your itemized deduction, the act doubles the standard deduction to $12,000 if you're single or to $24,000 if you're married. In many cases, you'll discover that you no longer need to bother with itemized deductions at all.
Also, the act expands the child tax credit from $1,000 to $2,000 and increases the phaseout of this credit from $110,000 to $400,000 for married couples. The first $1,400 in child tax credits is refundable, too. Remember, this is a below-the-line tax credit, so it directly reduces how much you owe in taxes.
IMAGE SOURCE: GETTY IMAGES.
It's likely that your income tax rate isheading lowernext year. The act keeps the seven tax brackets, but it changes the rates and the incomes that those brackets apply to. The following table shows you how 2018 federal income tax rates compare to the 2017 rates.
[{"Bracket Under Current Law": "10%", "Applies to These Incomes:": "$0-$19,050", "Bracket Under New Law": "10%"}, {"Bracket Under Current Law": "15%", "Applies to These Incomes:": "$19,050-$77,400", "Bracket Under New Law": "12%"}, {"Bracket Under Current Law": "25%", "Applies to These Incomes:": "$77,400-$165,000", "Bracket Under New Law": "22%"}, {"Bracket Under Current Law": "28%", "Applies to These Incomes:": "$165,000-$315,000", "Bracket Under New Law": "24%"}, {"Bracket Under Current Law": "33%", "Applies to These Incomes:": "$315,000-$400,000", "Bracket Under New Law": "32%"}, {"Bracket Under Current Law": "35%", "Applies to These Incomes:": "$400,000-$600,000", "Bracket Under New Law": "35%"}, {"Bracket Under Current Law": "39.6%", "Applies to These Incomes:": "$600,000+", "Bracket Under New Law": "37%"}]
Data source: Tax Foundation. Married filing jointly.
Because of the changes, your employer will adjust your withholding next year, so you should see a small increase in your take-home paycheck soon.
If you own a company, then you'll stand to benefit from a significantdecline in the corporate tax ratenext year. Currently, the corporate tax rate is 35%, but it will drop to 21% next year. The cut in rates is designed to help small businesses, too. If you report your business profits as personal income on your tax return, then there's a good chance you'll be able to deduct 20% of your business income. The deduction can phase out beginning at $315,000, if married, depending on your role and industry.
IMAGE SOURCE: GETTY IMAGES.
If you do own a business, making an investment that can improve your productivity or expand your business next year could pay off. The act allows you to deduct 100% of the cost of short-lived capital investments for five years. Therefore, it could make sense to invest in new equipment sooner rather than later.
Currently, estates smaller than $5.6 million are exempt from estate taxes, but the act changes that exemption to estates smaller than $11.2 million. This change means more estates, such as farms, will avoid the tax.
The majority of the personal tax changes expire in 2025, so unless Congress extends them or makes them permanent before then, rates and deductions could change back to 2017's laws at that point. The corporate rates are permanent, but immediate expensing goes away in five years.
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[Random Sample of Social Media Buzz (last 60 days)]
Grist points out that the massive growth in electricity consumption in bitcoin mining is starting to have an impact on the overall global environment. https://grist.org/article/bitcoin-could-cost-us-our-clean-energy-future/ … || bitcoin priceってゆうか、 || I keep seeing this argument Can anyone explain to me how Bitcoin Cash is more censorable than Bitcoin, which this implies? https://twitter.com/SatoshiLite/status/939256394997305344 … || Tiffany Haddishちゃんが || I just can buy 0,08 btc but i'm proud to do it || Who is a big fan of Billions..
The world off wall st .. is something else.. What's going on with bitcoin || #BTC Average: 11955.45$
#Bitfinex - 12030.00$
#Poloniex - 12028.00$
#Bitstamp - 11900.03$
#Coinbase - 11550.00$
#Binance - 12040.00$
#CEXio - 12200.00$
#Kraken - 11762.30$
#Cryptopia - 11989.00$
#Bittrex - 12055.13$
#GateCoin - 12000.00$
#Bitcoin #Exchanges #Price || こんばんは。 bitcoin priceという || Never a bad day to watch my favorite moving picture! To the victor goes the spoils ...
https://www.youtube.com/watch?v=frE9rXnaHpE … || Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo dedicar u ···» https://goo.gl/Cdo6SQ . #
|
Trend: down || Prices: 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-01-09]
BTC Price: 7879.07, BTC RSI: 59.61
Gold Price: 1551.70, Gold RSI: 69.88
Oil Price: 59.56, Oil RSI: 46.14
[Random Sample of News (last 60 days)]
Chinas Crackdown on Cryptocurrencies Claims First Victims: (Bloomberg) -- Chinas latest crypto-crackdown is already claiming its first casualties. At least five local exchanges have halted operations or announced they will no longer serve domestic users this month, after regulators issued a series of warnings and notices as part of a cleanup of digital currency trading. Chinas stepping up scrutiny of its massive cryptocurrency industry just weeks after President Xi Jinping ignited a market frenzy by declaring Beijings support for blockchain technology. Financial watchdogs including the Chinese central bank have in past weeks ordered crypto firms to shutter and warned investors to be wary of digital currencies, seeking to rein in a market prone to excesses. Weibo, a Chinese Twitter-like service, suspended accounts operated by major exchange Binance Holdings Ltd. and blockchain platform Tron. Taken together, the latest wave of shutdowns and restrictions represent the biggest cleanup of the sector since an initial Chinese clampdown in September 2017. Although exchanges that allow users to buy Bitcoin and Ether with fiat money were banned, trading had remained rampant in China through over-the-counter platforms or services that deal with crypto assets only. Now, even those alternatives have succumbed to regulators, spooking investors. Bitcoin this week sank to its lowest level in six months at the end of its longest losing streak since at least 2010. The largest crypto-currency recovered with a 6% rebound on Wednesday but is still poised to post its worst month since November last year. Twenty of the top 50 crypto exchanges are based in the Asia-Pacific region and accounted for about 40% of Bitcoin transactions in the first half of the year, according to data from Chainalysis. Within the region, the most exchanges are in China, the research firm found. Aaron Hu, a 26-year-old computer engineer in the central Chinese city of Changsha , said he moved all the crypto he holds -- several million yuans worth -- from exchanges like Binance and OKEx to his own wallet address. The first thing I thought of is how to secure my assets, he said. Story continues Read more: Bitcoin Touches Six-Month Low as More Supports Give Way Last week, Chinese exchange operators Bitsoda and Akdex announced termination of service. Rival Biss said this month its halted operations while executives cooperate with a government probe. Btuex said on Monday it will shut in response to Chinese government orders, reopening in future to serve only overseas users. And Idax said on Sunday it will also no longer serve users in China but focus on users abroad, citing policy reasons. It appears that, like everything else within their borders, China feels it needs to have tighter controls on the crypto market including exchanges, miners and asset issuers, said Katie Talati, head of research at Arca, a Los Angeles-based asset manager that invests in cryptocurrencies. I do believe, however, they are moving in a similar direction as Japan and other jurisdictions that have tight and clear regulations for crypto businesses. For now, uncertainty over how deep the apparent crackdown will run has spurred traders to transfer their money to safer places. One of cryptos largest wallet apps, ImToken, said Tether transactions among its nearly 10 million users surged to $66 million on Nov. 22, the day Chinas central bank issued its latest warning against crypto trading. Thats more than double the apps average daily Tether transaction in October, the IDG-backed startup told Bloomberg News. Tether, a so-called stable coin pegged to U.S. dollars, is a popular vehicle for investors to move their money into and out of crypto coins. The current situation and environment for blockchain in China is still very positive, Tron founder and crypto entrepreneur Justin Sun said. In the short term, it may not get as much progress as wed expect. Heres a timeline of the recent developments from China thats been blamed for the plunge: On Nov. 13, Binances Weibo account was suspended.On Nov. 14, the Chinese central banks Shanghai office and the citys financial regulator issued a notice asking local government agencies to work with crypto-related companies under their supervision to exit such businesses immediately. On the same day, Beijings financial regulator published a statement warning against illegal exchange operations.On Nov. 15, Trons Weibo account was frozen.On Nov. 21, Shenzhen financial regulator said in a statement its looking into allegedly illegal crypto operations, organizing check-ups and gathering evidence.On Nov. 21, crypto publication the Block reported Binances Shanghai office was shut in a police raid. Binance disputed the report, or that it has fixed offices in China.On Nov. 22, the Chinese central banks Shanghai branch said in a statement that companies that have conducted publicity campaigns, or have offered other services to offshore crypto exchanges, have been ordered to take immediate corrective actions or exit the business. (Updates with Bitcoin trading in the fourth paragraph) To contact the reporters on this story: Zheping Huang in Hong Kong at zhuang245@bloomberg.net;Olga Kharif in Portland at okharif@bloomberg.net To contact the editors responsible for this story: Joanna Ossinger at jossinger@bloomberg.net, ;Jeremy Herron at jherron8@bloomberg.net, Edwin Chan, Dave Liedtka For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P. || What the Fed Reserve’s Balance Sheet Expansion Means for Bitcoin: The U.S. Federal Reserve is again expanding its balance sheet and prominent experts believe that could bode well for bitcoin in the long run.
The U.S. central bank’s balance sheet includes a large number of distinct assets and liabilities. When interest rates begin to rise, the Fed pumps more money into the system by buying treasuries. The banks, therefore, have more cash available to lend and lower interest rates.
In October, the Fed’s assetsgrew byover $162 billion to register the biggest monthly rise since 2008.
Related:Bitcoin Eyes $7,800 After Biggest Daily Price Gain in a Month
Popular analyst@Rhythmtraderhinted this was a sign of impending turmoil, the kind bitcoin is supposed to be a haven from, in a Nov. 7 tweet.
Further, $270 billion has beenreportedly addedto the balance sheet since Sept. 11, which implies an average daily growth rate of $5.8 billion. As of Nov. 15, the Fed’s total assets were $4.04 trillion,according tothe Federal Reserve Bank of St. Louis.
The central bank again started buying treasuries after the money markets went haywire in September, pushing short-term rates as high as 10 percent, threatening to disrupt the overall lending system.
Related:What the Crypto Markets Are Saying About the Future of Bitcoin
It’s worth noting that the Fed does not have the authority to enforce a particular federal funds rate and instead influences the money supply to keep rates in the target range, currently 1.5 to 1.75 percent.
When interest ratesbegin to rise, it pumps more money into the economy. The banks, therefore, havemore cash available to lend and lower interest rates.
Back in September, the target range was 1.75 to 2 percent. So, with rates spiking as high as 10 percent, the Fed was compelled to spring to action.
Fed Reserve chairman Jerome Powell has repeatedly said that treasury purchases are not quantitative easing (QE), whereby the central bank snaps up government bonds to boost the money supply and buttress economic growth.
Experts, however, believe the central bank is in effect implementing round four of the QE program, following three rounds between 2009 and 2015.
“The burst in the repo market is telling us that risk and debt accumulation are much higher than estimated and it has taken a disguised QE program to mildly contain it,” Daniel Lacalle, author of “Escape from the Central Bank Trap” wrote in an article formises.org.
Meanwhile, Peter Boockvar, chief investment officer of Bleakley Advisory Group, editor of The Boock Report and CNBC contributor, is of theopinionthat the markets view any increase in the size of the Fed’s balance sheet as QE.
The recent rally in the US stock market also indicates the investors are not buying the Fed’s rhetoric and are viewing the ongoing balance sheet expansion as QE, aspointed outby Sven Henrich, popularly known as NorthmanTrader.
The S&P 500 rallied for six straight weeks, starting from the second week of October to the second week of November. The index fell by 0.33 percent last week only to clock a fresh record high of 3,154 on Wednesday.
The popular narrative in the crypto markets is that bitcoin is effectively digital gold and a hedge against monetary and fiscal indiscipline.
Anthony Pompliano, founder and partner at Morgan Creek Digital Assets told CoinDesk:
“Bitcoin is headed towards a unique situation – lower interest rates, more QE, and the [miners’ reward] halving in 2020. These three events occurring near the same time should serve as rocket fuel for Bitcoin over the next 2–3 years.”
Indeed, the top cryptocurrency’s monetary policy is fixed – the mining rewards are reduced by 50 percent every four years. Essentially, the pace of supply expansion is reduced by half every four years as opposed to major central banks, which have been expanding money supply since 2009.
Looking ahead, the Fed is likely to continue expanding its balance sheet in the near future, as the money market is unlikely to return to normalcy any time soon,according toJPMorgan Chase. With bitcoin set tocut miner rewardsnext May, the bitcoin-Fed monetary policy divergence is set to widen further.
It’s therefore not surprising that the likes of Cameron Winklevoss, founder of Winklevoss Capital Management, are extremely bullish on BTC:
The Cantillon Effect refers to the change in relative prices resulting from a shift in the money supply. It argues that money injection (QE and other inflation-boosting policies) may not change an economy’s output over the long-term. However, as newly created money travels through the economy, it affects different sectors of the economy differently.
For instance, the expected increase in the money supply due to QE or rate cuts is first priced in by financial markets. Put simply, people who are most invested in the stock market, real estate are the first to benefit from the inflationary policies.
By the time new investors enter the market, the assets are already overpriced. Further, saving becomes difficult with low-interest rates and the falling purchasing power of the currency.
A prolonged period of QE, therefore, may force investors to diversify their investments into bitcoin, which is deflationary in nature, as noted by analystPierre Rochardin August.
Backing Rochard’s view isGabor Gurbacs, digital asset strategist/director at VanEck/MVIS, who told CoinDesk that both bitcoin and gold could benefit from QE-led dollar devaluation and asset inflation.
Gurbacs said:
“Central banks expanding their balance sheets is quantitative easing in disguise. In effect, central banks buy government bonds and expand the repo market program with the intent to keep money markets in check. Bitcoin and gold may provide an alternative to and potentially a hedge against catastrophic failures in such heavily controlled central banking systems.”
Some may argue that BTC isnot a haven assetand tends to track equities more closely.
“Prior bitcoin bull runs were characterized by a gradual decline in equity market volatility. For example, we’ve noted its, albeit imperfect, inverse relationship with the VIX Index over longer time horizons (i.e. 2017 run-up),” according to analysts atDelphi Digital.
Even if we consider BTC a risky asset, the Fed’s QE still appears to be a price-bullish development.
The central bank conducted three rounds of QE between 2009 and 2015, during which time the S&P 500, a benchmark for risk assets across the globe, rallied by more than 200 percent. Gold, a classic safe-haven asset, rose from $800 to $1,921 in the three years to 2011 only to fall back to $1,050 by December 2015.
Disclosure: The author holds no cryptocurrency at the time of writing.
• Lebanese Bitcoiners Show How to Talk About Crypto At Thanksgiving
• Bitcoin Is Looking at a Short-Term Bull Reversal if Prices Pass $7,400 || Into the Ether: 90% of All ETH Wallets Now ‘Out-of-the-Money’: Ether is down significantly from record highs and the majority of its holders are losing money on their investments.
The second-largest cryptocurrency, which powers ethereum’s blockchain, is currently trading at $131, representing a 90 percent drop from the all-time high of $1,431 reached in early January 2018, according to CoinDesk’sether price index.
The relentless price slide has pushed 90 percent or 31.31 million ether addresses “out-of-the-money,” according to blockchain intelligence firmIntoTheBlock.
Related:3 Under-the-Radar Product Trends for 2020
An address is said to be out-of-the-money if the current price of ether is lower than the average price at which the coins were acquired or sent to an address.
So, the 31.31 million ether addresses have acquired coins at an average price higher than the ether’s current value of $131.
A major chunk of out-of-the-money addresses purchased coins in the range of $211 to $530. Notably, the biggest cluster, some 4.77 million addresses, is in an average cost range of $262 to $352.
About 3.58 million addresses have purchased coins in the range of $745 to $1,340. Since it was launched, ether has so far traded above $747 only for six months, from the meteoric rally of October-December 2017 until its price slide in the first quarter of 2018.
Related:Meet the Decentralized Fashion House Bringing Overpriced T-Shirts to Ethereum
Meanwhile, a mere 8 percent or 2.79 million addresses are “in-the-money” – the cost of acquisition is lower than the current price of ether – and 1.78 percent addresses are “at-the-money,” with an average purchase purchase price almost equal to the current spot price.
The majority of the in-the-money addresses have acquired coins in the range of $0 to $130, while 4,120 addresses have an average cost of $0. These could be early buyers who bought ether in the period between August 2015 and December 2015, when the cryptocurrency was trading in cents.
While the number of addresses in-the-money is small, the volume of ether these addresses are holding is quite significant.
Only 8 percent of addresses are in-the-money, but hold 31.24 percent of the total ether held in all addresses. That amounts to 34.05 million ethers ($4.5 billion). These investors have already seen their massive profits evaporate in the last 23 months and may offload their holdings if prices find acceptance under $100, adding to bearish pressures around ether.
Out-of-the-money addresses are holding 73.13 million ethers. Clusters of addresses with an average price in the range of $144-$170, $212-$262, or $262-$352 are holding a total of 36.24 million ethers.
The number of addresses in-the-money may have been higher at the end of the second quarter of this year, when ether was trading near $360.
The cryptocurrency rallied more than 120 percent in the first six months of 2019 only to drop by 54 percent in the second half.
Indeed, ether is not the only cryptocurrency to have faced intense selling pressure in recent times. The broader market has taken a beating, courtesy of bitcoin’s drop from June highs above $13,800 to recent lows near $6,400.
However, bitcoin, the top cryptocurrency, is still up 103 percent on a year-to-date basis. Ether, on the other hand, is reporting a marginal year-to-date loss at press time.
A few observers believe ethereum’s persistent scalability issues likely dented investor confidence, leading to a price drop.
“Ethereum has consistently missed deadlines for protocol upgrades,” said Connor Abendschein, research analyst at Digital Assets Data, to CoinDesk. “Ethereum 2.0 was supposed to have already gone into effect earlier this year, and it still hasn’t gone through.”
Ethereum 2.0 is a major network upgrade that will shift the blockchain’s current proof-of-work consensus algorithm to proof-of-stake and transfer validation function from miners to special network validators.
Under proof-of-work, miners compete with each other to solve a difficult puzzle (algorithm) to add each block to the chain. Under proof-of-stake, there is no competition as the block creator is selected based on the user’s stake in the project – in other words, ether holdings.
The market is expecting the first upgrade to be rolled out in January 2020. Ryan Selkis, CEO of Messari, however, thinks the transitionwon’t happenuntil 2022.
Apart from the missed deadlines, selling by an early HODLer likely pushed the cryptocurrency lower.
Asnoted byAlex Svanevik, data scientist in Crypto Land and co-founder of data science firm D 5, anaddressdating back to 2015 has moved more than 300,000 ethers to exchanges in the past four months.
• Snowball: The Effort to Bring Privacy to Every Bitcoin Wallet
• ‘Stacking Sats’ vs. ‘ETH Is Money’ – The Memes That Shaped 2019 || Bitcoin Gets Hammered as China Clamps Down on Crypto Activity: Investing.com Bitcoin slumped to one-month lows on Thursday and breached a key technical level on signs that China is clamping down on crypto-related activity. Bitcoin fell 6% to $7,647, breaching its 200-day moving average of about $7,935, a key technical level, and was on course to post its third straight weekly decline. While bitcoin is up nearly 100% on the year, it has fallen 44% from its highs in late June. Chinese authorities reportedly shut down the Shanghai offices of cryptocurrency exchange Binance as part of a wider effort to stifle cryptocurrency-related businesses and activities in the country, Cointelegraph reported. The reported crack down on cryptos in the country comes just weeks after bitcoin surged on hopes that China was warming up to the popular crypto after Chinese president Xi Jinping appeared to endorse blockchain the decentralized technology that powers cryptos. In late-October, Chinas President Xi Jinping said Beijing will increase investment in blockchain technology. As sentiment continues to sour on the popular crypto, some have offered little hope of a rebound at a time when other assets like stocks are likely to attract new money at the expense of emerging assets like bitcoin. Volumes are low, no new money is coming into the ecosystem, and stocks/bonds/gold are all up double-digits year-to-date, which makes the non-crypto world lose focus on this emerging asset class, John Arca Chief Investment Officer Jeff Dorman told Bloomberg. Popular bitcoin trader Mark Dow, a former U.S. Treasury and International Monetary Fund economist, echoed the doom and gloom in the cryptos, warning that bitcoin is dying. Related Articles New Bill Would Put Facebooks Libra Stablecoin Under US Securities Law Markets Crash After Reports That Binance's Shanghai Office Closed in Crypto Crackdown Venezuela Cuts Petros Backing from 5B Barrels of Oil to 30M: Reuters || European Equities: A Week in Review – 22/11/19: The Majors It was a bearish week for the European majors, with the CAC40 falling by 0.78% to lead the way down. The DAX30 and Eurostoxx600 saw more modest losses of 0.59% and 0.51% respectively. A positive end to the week was not enough to reverse losses from mid-week. Economic data was in focus late in the week, as were U.S and China updates on trade. The news was certainly mixed. Mid-week, risk aversion hit as news of Trump’s unwillingness to rollback tariffs questioned whether China would proceed. There were also the HK Bills that were voted through by the Senate and the House of Representatives. U.S support for HK protestors had led to a threat of retaliation from China. At the end of the week, however, there was some positive news from Washington, with Trump announcing that a deal was close. The Stats It was a relatively busy week on the Eurozone economic calendar . It was a quiet start to the week, however, with economic data limited to German wholesale inflation figures. The lack of stats had left the European majors in the hands of geopolitical risk going into a busy end to the week. On Thursday, consumer confidence figures out of the Eurozone had a muted impact on the majors, in spite of a pickup in confidence. The Eurozone’s consumer confidence indicator rose from -7.6 to -7.2 in November, according to prelim figures. Economists had forecast a prelim -7.3. It was a big day on Friday, however, with prelim November private sector PMIs from France, Germany and the Eurozone in focus. The Eurozone’s Composite Output Index fell to a 2-month low 50.3, weighed by a 10-month low service sector PMI (51.5). There was some support from the manufacturing sector, with a 3-month high Manufacturing PMI. The devil was in the details, however. A 3 rd consecutive monthly decline in new orders for goods and services represented the worst spell since mid-2013. Optimism also sat well below levels from earlier in the year, with uncertainty over Brexit, trade and the threat of auto tariffs weighing. Story continues Labour market conditions were also worsening, with employment growth falling for a 5 th consecutive month and down to its lowest since January 2015. On the monetary policy front, the ECB monetary policy meeting minutes on Thursday had a muted impact, as did Lagarde’s first speech as ECB President on Friday. The Market Movers From the DAX , it was another mixed week for the auto sector. Daimler bucked the trend in the week, rising by 3.11%, supported by a 1.98% rally on Friday. It was a bearish week for the rest of the sector, however. Volkswagen led the way down, sliding by 3.02%, with Continental down by 2.15%. BMW saw a more modest loss of 0.68% in the week. It was a bullish week for the banking sector, however. Deutsche Bank rose by 1.21%, with Commerzbank up by 0.38%. From the CAC , it was also a positive week for the banks. BNP Paribas rose by 1.82% to lead the way. Soc Gen and Credit Agricole rose by 0.58% and by 0.44% respectively. The French auto sector took a hit in the week, however. Peugeot slid by 5.21%, with Renault falling by 0.71%. On the VIX Index The VIX Index rose by 2.41% in the week ending 22 nd November. Reversing a 0.17% decline from the previous week, the VIX ended the week at 12.3. The upside in the week came in spite of a 6% slide on Friday as the markets responded to positive updates from Washington on trade. Economic data took a back seat in the week, with the markets eager for a Phase 1 agreement to be locked in before the year-end. The Week Ahead It’s a relatively busy week on the Eurozone economic calendar . At the start of the week, business and consumer confidence figures are due out of Germany on Monday and Tuesday. We can expect the EUR to be particularly sensitive to the numbers. Reports of rising unemployment out of Germany had pressured consumer confidence recently. The markets will then need to shift attention to stats at the end of the week. French consumer spending and GDP figures, and German and Eurozone unemployment figures are due out. While consumer spending will provide direction, we would expect Germany’s unemployment figures to have the greatest influence on the day. Any larger than expected rise in unemployment and expect the EUR to feel it. Barring deviation from previous estimates, the French GDP figures should have a muted impact on the majors. Throughout the week, prelim inflation figures from member states and the Eurozone are also unlikely to have a material impact. From elsewhere, economic data from the U.S will also need monitoring. Consumer confidence figures on Tuesday and particularly busy Wednesday will provide direction. Key stats on Wednesday include 3 rd estimate GDP numbers, durable goods orders, and the FED’s preferred inflation figures. It may ultimately come down to updates from Washington and Beijing on trade, however. Could this be the week when ink hits paper? This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Forecast – Silver Markets Slump On Friday U.S. Dollar Index Futures (DX) Technical Analysis – Strengthens into Close Over 98.120, Weakens into Close Under 98.095 Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/11/19 Natural Gas Price Forecast – Natural Gas Takes Off E-mini S&P 500 Index (ES) Futures Technical Analysis – Trying to Establish Support Zone at 3104.00 to 3097.75 Crude Oil Price Update – Close Under $58.58 Forms Potentially Bearish Closing Price Reversal Top || Bitmain rival Canaan Creative set for Nov. 20 IPO on Nasdaq: Bitcoin miner manufacturer Canaan Creative will ring the bell at Nasdaq on Nov. 20, several sources have confirmed to The Block. The biggest rival to Bitmain filed for a U.S. initial public offering (IPO) on Oct. 28 with Citi Group, Credit Suisse, Galaxy Digital, and four other firms as underwriters. The filing shows that Canaan is looking to raise $400 million from the IPO, although it is not clear in what price range the firm is considering listing its shares. Canaan's successful listing on Nasdaq follows a slew of failed attempts to be listed on other stock exchanges in Hong Kong and mainland China. Bitmain, whose IPO plan in Hong Kong also fell through, is said to have secretly filed a U.S. IPO as well, sponsored by Deutsche Bank. In the earlier filing, Canaan said it controlled 23.3% of the global bitcoin mining machine marketshare in 1H19, while Bitmain took up 64.5%. || Asian Shares Rally as China’s Manufacturing Activity Expansion Offsets Worries Over Trade Deal: The major Asia Pacific stock indexes are trading higher on Monday on the back of stronger than expected Chinese factory data as investors shrugged off another round of violence in Hong Kong and renewed doubts over a U.S.-China trade deal before the end of the year. The indexes were primarily led by a jump in shares in Japan. At 06:01 GMT, Japan’s Nikkei 225 Index is trading 23533.20, up 239.29 or 1.03%. Hong Kong’s Hang Seng Index is at 26460.24, up 113.75 or +0.43% and South Korea’s KOSPI Index is at 2090.37, up 2.41 or +0.12%. China’s Shanghai Index is trading 2875.31, up 3.15 or +0.11% and Australia’s S&P/ASX 200 closed at 6862.30, up 16.30 or +0.24%. China’s Manufacturing Activity Jumps in November A private survey on Monday showed China’s manufacturing activity expanded more than expected in November as the Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) came in at 51.8. Caixin and IHS Markit said in a joint press release that the pace of improvement was the strongest since December 2016. The index was expected to have fallen to 51.4 in November from 51.7 in October, according to economists polled by Reuters. PMI readings above 50 indicate expansion, while those below that level signal contraction. Caixin and IHS Markit said the PMI data signaled a “further modest improvement” in the health of China’s manufacturing sector attributed to “solid increases” in output and new business. Employment in the sector also remained broadly stable, they added. China’s official PMI was 50.2 in November, up from 49.3 in October to hit its highest level since March, China’s National Bureau of Statistics said on Saturday. US-China Trade Developments There’s uncertainty at the start of the new week, but this is being offset by China’s solid manufacturing reports. Axios reported Sunday, citing a source close to U.S. President Donald Trump’s negotiating team, that the anticipated deal is now “stalled because of Hong Kong legislation” and a “Phase One” agreement between Washington and Beijing would only happen “year-end at the earliest.” The report also said Trump is expected to pause on planned tariffs in December. Story continues “A week ago, U.S. sources close to the China talks indicated they were on the precipice of a “Phase One” deal. But that optimism now seems premature, if not misplaced,” Axios said. Meanwhile, Chinese state media said Sunday that Beijing wants a rollback of tariffs in the phase one trade deal that the two economic powerhouses are aiming to reach. “Sources with direct knowledge of the trade talks told the Global Times on Saturday that the U.S. must remove existing tariffs, not planned tariffs, as part of the deal,” according to the report. Global Times, published by the official People’s Daily newspaper of China’s ruling Communist Party, also cited another unidentified source close to the talks as saying U.S. officials had been resisting such a demand because the tariffs were their only weapon in the trade war and giving up that weapon meant “surrender.” Fresh Protests in Hong Kong Police fired tear gas to disperse thousands of anti-government protesters in Hong Kong on Sunday, ending a rare lull in violence, as residents took to the streets chanting “revolution of our time” and “liberate Hong Kong”. This article was originally posted on FX Empire More From FXEMPIRE: Trade Talk Toing And Froing Price of Gold Fundamental Daily Forecast – Strong China Factory Data Dampens Concerns Over Slowing Global Economy Markets Wait for the Data to Take the Next Step USD/JPY Fundamental Daily Forecast – Boosted by Demand for Risk, Jump in Treasury Yields Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/12/19 Silver Back Below $17.00 as Possible Trade Talk Snag Unnerves Investors || Cryptocurrencies Are Still the World’s Best Performing Asset Class This Year: As the year and decade come to an end, cryptocurrencies once again outperform other major asset classes.
Despite trading significantly down from their record highs of late December 2017, large-cap cryptocurrencies had a phenomenal year and remain one of the greatest investment success stories of the decade.
Cementing themselves as the world’s leading asset class for yearly performance, cryptocurrencies have risen well above annualized returns of the U.S. equities, commodities and bond markets for 2019.
Related:Bitcoin Risks Deeper Drop After Shallow Price Bounce
Ryan Alfred, President and co-founder of Digital Assets Data said large-cap crypto assets possess significantly higher returns versus traditional markets for this year.
“Looking back at the performance of the top ten large-caps (Bitwise 10) in comparison to other major asset classes, we can see their special signature,” Alfred said.
As seen in the chart above, research provided by Digital Assets Data shows how this year’s performance of the top 10 cryptos by market capitalization fared against other major asset classes such as gold, oil and equities.
Of course, 2019 didn’t start out that way. Back in February, the top 10 crypto began a fairly dismal run, resting well below all other traditional asset classes when viewing their return on investment figures. However, sentiment began to pick up significantly in March and by mid-year, cryptocurrencies were far out ahead of other the other assets.
Related:Ride ‘Em, Cowboy: Bitmain’s Marketing Gambit Ups Its Texas-Sized Position on Bitcoin
That gap has begun to narrow as stocks, bonds and commodities begin to increase their lead. Yet cryptocurrencies remain significantly ahead of all other asset classes as the year comes to a close.
Much of this rally is courtesy of bitcoin (BTC). The world’s first cryptocurrency is currently up 100 percent since the year began. Meanwhile, Ether, the world’s second-largest crypto is up 35 percent year-to-date, though XRP is down 25 percent from where it traded on Jan. 1.
In the year before the decade began, the world was in the throes of a financial crisis. Since then, stocks have rebounded. From its March 2009 market meltdown lows to now, the S&P 500 has gained a respectable 369 percent. Similarly, the Dow Jones Industrial Average has also had a good run, up 326 percent in that same time period.
However, BTC has blasted those figures, rising well above a staggering 12 million percent (yes, you read that correctly) over a one-year-shorter time frame, beginning March 2010. That’s when the price of 1 BTC was around $0.05, data taken fromMessarishows.
Crypto’s success can likely be attributed to its most defining characteristics: high volatility and liquidity, allowing market participants to quickly and easily trade between digital and fiat currencies.
Lorenzo Pellegrino, CEO of Skrill, a cross-border payments platform utilizing crypto, said digital assets resembled a nascent market. Prices bouncing around in a frantic manner enable the asset class to outperform all others based on irrational sentiment and low barriers to entry.
“As it (crypto) matures we should start to see increased stability and the core fundamentals will become more apparent,” Pellegrino said.
• Bitcoiners Are Building a Sidechain Version of Ethereum’s MakerDAO
• Bitcoin Eyes Minor Price Bounce After Hitting Two-Week Low || Fidelity Digital Assets Gets NY Trust Charter to Custody Bitcoin for Institutions: Fidelity Digital Asset Services has obtained a trust company charter from the New York Department of Financial Services (NYDFS), allowing the Fidelity Investments unit to custody bitcoin for institutional investors in the financial capital of the U.S.
FDAS joins 22 other companies that have been approved for a charter or license by the regulator to engage in virtual currency business activities, NYDFS said.
“The custody and trade execution services that we provide are essential building blocks for institutional investors’ continued adoption of digital assets,” Michael O’Reilly, Chief Operating Officer for Fidelity Digital Assets, said in a press release. “The designation as a New York Trust Company under the supervision and examination of the DFS builds on the credibility and trust we’re establishing amongst institutions”
Related:Bakkt, Fidelity Will Store Galaxy Digital’s New Bitcoin Fund Holdings
The news comes as Galaxy Digital Holdings announced that it was choosing Fidelity and Intercontinental Exchange’s Bakkt (which also has an NYDFS trust license) tostorethe bitcoin for its two new funds. A few months ago, Fidelity went on a hiringspreefor experts in blockchain and trading.
• Tencent, Fidelity Back $20 Million Round for Blockchain Firm Everledger
• Fidelity’s Charity Arm Has Received Over $100 Million in Crypto Donations
• Fidelity Digital Assets Is Hiring 10 More Blockchain and Trading Experts || [SPONSORED] LMAX Digital, the #1 Institutional Bitcoin spot exchange: Leveraging LMAX Exchange proven, robustFX technologyand liquidity relationships, LMAX Digital delivers a market-leading, institutional solution for physical trading and custodial services of the most liquid crypto currencies BTC, ETH, LTC, BCH and XRP.
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[Random Sample of Social Media Buzz (last 60 days)]
⚡⚡⚡⚡1hr Volume Alert!⚡⚡⚡⚡ $XLM current volume: 515.27 $BTC average: 13.95 $BTC which is 3592.44% above average, Price: 0.00000879 (-0.34%) || Currently on round #11441 with 81/100 participants (0.09818731 BTC each) || @signalexpresss @CrptoVIPSignal @OKExIndia @OKCoin What is the strength and weakness of $OKB and what will you do for $OKB to be recognized in the whole world just like the top cryptocurrencies like BTC & ETH? || Urgent Hiring for Administrative Assistant III - Pyramid Consulting - [ 📋 More Info https://t.co/BHeiPH4cs1 ] #Databases #jobs #Hiring #Careers #Mahwah #NJ #Cryptocurrency #Blockchain #BTC #BitCoin #ETH #crypto https://t.co/HPOc0Zje0K || #bakkt and #ice will #offer #cash-settled #bitcoin #futures in #singapore this #december
#instablockchain #instabtc #instaeth #instanews #airdrop #ripplenews #SmartContracts #dapp $BTC $ETC #stockmarket #rt
https://t.co/9Wengqn9Tl || #VeteransDay #MercuryTransit
#SinglesDay #ModernWarfare
#NoNutNovember #NBA #BTSinRIYADH #bitcoin #Vuslat
#VforVendetta #cryptocurrency
#CallofDuty #ziyech #kilaw #LoseYouToLoveMe #LelaStar
#JIMIN #JHOPE #Japan #HisDarkMaterials #HalaMadrid
#GelecegeNefes
https://t.co/e7P4qslLZC || 【オッズ記録】
⚽️サッカー日本代表戦
🏆ワールドカップ・アジア予選 グループF
🇰🇬 #キルギスタン @ 13.00
ドロー @ 6.40
🇯🇵 #日本 @ 1.22
（20:18 Kick Off）
#ビットコイン #BTC #仮想通貨 #ブックメーカー #daihyo https://t.co/AcLBA0g7ZB || https://t.co/FpG8ieDUXC #saintpaul #investing #FinTech #cybersecurity #nashville #bitcoinUK #tokenlaunches #Startups #germany #saltlakecity #italy #albuquerque #funding #UAE #boston #stlouis #investment #btc #bitcoinUK #deals #cybersecurity #PrivateEquity #atlanta #oklahomacity || Buy BTC/USDT at #Bitfinex, sell at #TokensNet; earn 1.10% #Bitcoin $BTC || Airbnb Now Bookable With Bitcoin and Lightning Network via Fold App https://t.co/6KwedtUmY6 https://t.co/LxTi9GoJid
|
Trend: up || Prices: 8166.55, 8037.54, 8192.49, 8144.19, 8827.76, 8807.01, 8723.79, 8929.04, 8942.81, 8706.25
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-07-06]
BTC Price: 20548.25, BTC RSI: 39.73
Gold Price: 1734.90, Gold RSI: 23.80
Oil Price: 98.53, Oil RSI: 34.71
[Random Sample of News (last 60 days)]
Cryptocurrency takes a hit as investors dump risk assets: The S&P 500 dropped sharply this past week as investors priced in the Federal Reserve's more aggressive approach to raising interest rates.
On Wednesday, the Federal Open Market Committee raised its fed funds target range by 0.75% to between 1.5% and 1.75%. The move marks the first time the Fed has raised interest rates by 0.75% in one meeting since 1994, and Fed ChairJerome Powellsaid another 0.75% rate hike is on the table for the Fed's July meeting, as well. In its updated economic projections, the Federal Reserve raised its outlook for 2022 personal consumption index inflation to 5.2%, up from 4.3% in March.
On Thursday, the Census Bureau reported U.S. housing starts dropped 14.4% in May, a sign rising mortgage rates are cooling the housing market. The Commerce Department reported Wednesday that U.S. retail sales unexpectedlydropped 0.3%in May, yet another sign of an economic slowdown.
Bitcoin prices briefly fell to new 52-week lows below $20,000 as investors continued to dump risk assets. On Tuesday, popular cryptocurrency exchange Coinbaseannouncedit is laying off 18% of its full-time employees.
The yield on 10-year U.S. Treasury bonds finished the week at around 3.23% after reaching 3.483% on Tuesday, its highest level since 2011.
Kroger reported a first-quarter earnings beat on Thursday but issued disappointing same-store sales guidance, sending its stock lower by more than 9% on the week.
Investors will get more quarterly earnings reports from Lennar on Tuesday and Rite Aid, BlackBerry and FedEx on Thursday.
At least 417 S&P 500 companies mentioned the word "inflation" in their first-quarter earnings calls, accordingto FactSet.
More:Fed issues steepest interest rate hike since 1994 in effort to battle inflation
More:IRS pushes standard mileage rate to 62.5 cents per mile for 6 months as gas prices soar
In the week ahead, investors will get key economic updates on Wednesday and Thursday when Powell, the Fed chair, gives his twice-annual report to Congress on monetary policy. In addition, the Federal Reserve will publish the results of its annual stress test of major U.S. banks on Thursday.
Benzingais a financial news and data company headquartered in Detroit.
This article originally appeared on Detroit Free Press:Cryptocurrency takes a hit as investors dump risk assets || Market Wrap: BTC Falls Below $20K as Crypto Bounce Loses Steam: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. After surging earlier this week, bitcoin resumed its more recent slump below $20,000 on Wednesday amid a sell-off by retail investors. The largest cryptocurrency by market capitalization was recently trading at about $19,900, down over 4% over the past 24 hours. The decline comes two days after bitcoin climbed past $21,000 as investors bought a weekend dip to two-year lows. “The global crypto market remains vulnerable to further selling pressure,” Oanda senior analyst Edward Moya wrote in an email, but he also noted that “a consolidation could be around the corner as the challenging macro environment is close to being fully priced in.” FxPro senior market analyst Alex Kuptsikevich said that investors were premature in buying the latest dip because the wider economic conditions and the U.S. central bank's monetary policy are less favorable for assets than they were during previous downturns. “Retail shoppers risk being caught swimming against the financial current, which is hardly a successful strategy,” Kuptsikevich wrote. “History suggests that enthusiasts risk running out of steam soon, being left with depreciating assets and losing confidence for years that equity or cryptocurrency markets are a worthwhile place for their money.” Most altcoins dropped in tandem with BTC, indicating that investors' appetite for taking risks remains low. Ether (ETH), the token of Ethereum, the second largest blockchain, underperformed, dropping more than 6% in the last 24 hours. The S&P 500 and the tech-heavy Nasdaq 100 index were roughly flat as investors digested congressional testimony by Federal Reserve Chairman Jerome Powell, who indicated that the Fed would maintain its hawkish monetary course to rein in inflation, possibly at the expense of a recession. Rising prices, which have stemmed heavily from increased energy costs, continue to bedevil the U.S. economy, although West Texas Intermediate crude oil, a measure of wider energy markets, fell below $102 on Wednesday. Meanwhile, U.S. Treasurys and the U.S. dollar, which investors consider safe haven assets, closed lower. Story continues "Wall Street remains hopeful that the Fed will monitor the impact of rate hikes on the economy," Oanda's Moya told CoinDesk, adding that "risk appetite remains elusive as global recession fears intensify." Latest prices ● Bitcoin (BTC): $20,166 −2.59% ● Ether (ETH): $1,071 −4.03% ● S&P 500 daily close: 3,759.89 −0.13% ● Gold: $1,840 per troy ounce +0.29% ● Ten-year Treasury yield daily close: 3.16% -0.151 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Powell's testimony Powell told the Senate Banking Committee that a soft landing “is going to be very challenging” and that a recession is “certainly a possibility. “We are not trying to provoke and do not think we will need to provoke a recession, but we do think it’s absolutely essential that we restore price stability, really for the benefit of the labor market, as much as anything else,” he said. Inflation is still running at a four-decade high of 8.6% in May, a level that surprised economists, traders and even Fed officials. Powell said the Fed will continue to raise interest rates until it sees a clear sign that inflation is cooling down. “Financial conditions have already priced in additional rate increases, but we need to go ahead and have them,” he said. Read the full story here . Altcoin roundup Voyager plunges: Crypto broker Voyager Digital’s (VOYG) shares fell more than 60% after it disclosed its exposure to beleaguered hedge fund Three Arrows Capital (3AC) and said it may issue a "notice of default" to the crypto fund if the hedge fund fails to make a loan repayment. This comes after the firm announced that its exposure to 3AC consists of 15,250 bitcoins ($370 million) and $350 million USDC. The broker’s token, VGX, dropped 20% in the last 24 hours, It has fallen to 45 cents from $3 this year. Read more here. dYdX starts its own blockchain: Cryptocurrency exchange dYdX announced that it is launching a standalone blockchain in a bid to decentralize the platform. The layer 1 blockchain will become the home of the DYDX token. The token’s price rose 7% after the announcement, making it one of the few gainers among altcoins. Read more here. Ledger dives into NFTs: Crypto hardware and security firm Ledger is launching a non-fungible token ( NFT ) marketplace and Web3 services platform for enterprises, the company announced Wednesday at the Ledger Op3n conference at NFT.NYC . Ledger is also rolling out a line of other products focused on Web3 education and security. The firm is working with brands, such as LVMH's Tag Heuer, NFT collection DeadFellaz and Brick/Babylon, to list their assets on the marketplace. Read more here. Relevant insight Listen 🎧 : Today’s CoinDesk "Markets Daily" podcast discusses the latest movements on the market and Sam Bankman-Fried, the billionaire bailing out some crypto firms. US Fed Evaluating SEC’s Position on Digital Assets Custody, Powell Says : The SEC’s directive that customers’ digital assets may need to be treated as being on an exchange’s balance sheet has banking regulators scratching their heads about how it will work. Digital Dollar Would Secure Greenback as Global Reserve Currency, Lawmaker Argues : Rep. Jim Himes (D-Conn.) published a 15-page white paper arguing in favor of a digital dollar. BoE's Cunliffe Cautions Against 2008 Repeat With FTX's Derivatives Rule Change Proposal : The Bank of England official is skeptical whether decentralized finance will ever be a thing. Chainalysis Launches 24/7 Hotline for Crypto Crime Victims : Ransomware actors raked in an all-time high of $731 million in crypto payments in 2021, and 2022 is on track to be another record year for crypto-enabled cybercrime. Binance.US Launches Zero-Fee Bitcoin Trading : The exchange plans to eliminate the charges for more tokens in the future. Prime Trust Raises $107M With Eyes on Crypto IRA, Tokenized Asset Products : The Las Vegas company is going into build mode, bear market be damned. Doodles NFT Project Taps Pharrell Williams as Chief Brand Officer : The leaders of the blue-chip collection made the announcement to a packed crowd of Doodle holders at NFT.NYC . EBay Acquires NFT Marketplace KnownOrigin for Undisclosed Amount : The move comes one month after eBay released its debut collection of NFTs. Other markets Most digital assets in the CoinDesk 20 ended the day lower. Biggest Gainers Asset Ticker Returns DACS Sector Polygon MATIC +8.1% Smart Contract Platform Cosmos ATOM +7.2% Smart Contract Platform Stellar XLM +1.0% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Shiba Inu SHIB −7.7% Currency Solana SOL −4.5% Smart Contract Platform Ethereum ETH −4.0% Smart Contract Platform Sector classifications are provided via the Digital Asset Classification Standard (DACS) , developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges. UPDATE (June 22, 2022, 21:34 UTC) Changes headline, subhead and other price information to reflect bitcoin's decline below $20,000. || Why Are Gas Prices So High?: Following the start of the summer travel season this past Memorial Day holiday, gas prices are on the minds of most Americans, as the rising prices have been busy squeezing wallets at an alarming rate.
AAA reports prices across the United States now averagea record $4.62led by California’s eye-popping $6.17 per gallon due to its larger state gas tax and government mandated, greener but more costly fuel blend. More painful, at a handful of those service stations gas prices are topping the national minimum wage of $7.25 per hour!
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So what’s to blame with the seemingly out-of-control jump in gas prices? As we’ll explore, it’s a perfect storm of factors, but not a situation without reasons to remain positive.
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Remember those viral videos of wildlife reclaiming outdoor spaces as people globally hunkered down indoors at the onset of the coronavirus pandemic?Dolphins swimming in Venice, monkeys window shopping at H&M or Macy’s and that sort of thing? The wheels of commerce had stopped, and Mother Nature made a comeback. It turns out most of that was fake.
But during that same period the very real consequences of global oil suppliers drastically cutting production based on fearful visions of longer-lasting reduced demand and panicky negative crude futures contracts further weighing on those supply decisions have continued to impact the price of gas at the pump.
By 2021, with global economies back at work much faster than expected, the supply/demand dislocation in energy prices was turned upside down on its head. As a result, gas prices which nationally crashed to less than $2 in the spring of 2020 were quickly put in the rearview mirror and racing higher as more dollars chased tighter supplies with less chance to be replenished.
Decisions and speculations made in error aren’t the only factors responsible for soaring gas prices in 2022. The war in Ukraine resulted in western sanctions against Russian imports and put already stretched oil inventories at record lows.
At roughly 3%, the U.S. doesn’t meaningfully rely on the world’s third-largest oil producer for its gas refineries. But theglobal interconnectednessof the energy markets results in other countries’ demands and actions impacting gas prices.
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And those politics aren’t the only driver in gas prices either. Other ongoingU.S. policies attempting to combat long-term climate changeand further the use of renewable and cleaner alternative energy resources at the expense of fossil fuel production have amplified the rising gas prices individuals and businesses are struggling with today.
So there’s more than a few reasons why gas prices are high. The good news? There are some things you can do.
To be fair, the Biden administration is releasing supply from the country’s strategic reserves to help counter some of the negative impact tied to this year’s Russian sanctions. But that only helps slightly (roughly 10 cents to 35 centsa gallon).
Some states are also looking at suspending gas taxes temporarily. But with the levy averaging around 10% or less and gas prices having climbed more than 50% in just the last year, the relief is also largely negligible.
All isn’t lost though. Adjusted for inflation, gas prices remain below 2008’s high. That’s good, right? And let’s be truly thankful it’s not 2020.
Also, there is the choice to manage other discretionary purchases to cope with uncontrollable prices at the pump.Starbucks(NASDAQ:SBUX), for example, is a popular fall guy for cutting back on expenses, but also hardly alone.
Lastly, with roughly50% of car trips under three miles, walking, biking or e-biking sound like win, win strategies to help deal with rising prices at the pump.
On the date of publication, Chris Tyler did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postWhy Are Gas Prices So High?appeared first onInvestorPlace. || Three Arrows Capital lines up for liquidation: Crypto hedge fund Three Arrows Capital (3AC) has been ordered to liquidate as plummeting crypto prices left the firm unable to repay creditors, Sky News reported. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts A court in the British Virgin Islands appointed two senior members of global advisory firm Teneo to manage the liquidation, according to a person familiar with the matter, cited by the Washington Post . Teneo will soon set up a website allowing 3ACs creditors to submit claims and stay informed on the insolvency. The firm defaulted on a US$670 million loan from digital asset brokerage Voyager Digital on Monday, while a group of lenders including BlockFi canceled roughly US$400 million in loans to 3AC in mid-June. A Hong Kong-based client has accused 3AC of using client capital to meet margin calls while ghosting creditors withdrawal requests funds. 3ACs confidence was shaken in Mays Terra crash after buying US$200 million worth of LUNA tokens for Luna Foundation Guards US$1 billion raise in February, cofounder Kyle Davies told the Wall Street Journal . See related article: Client accuses Bitcoin, Ethereum backer Three Arrows Capital of misappropriating funds || Bitcoin could fall an additional 27% to its 2019 high as the crypto tests a big support level, according to Fairlead's Katie Stockton: • Bitcoin's negative momentum points to more downside ahead, according to Fairlead Strategies' Katie Stockton.
• The world's most valuable cryptocurrency fell below $19,000 on Thursday to test a key support level.
• Bitcoin's secondary support level sits at $13,900, representing potential downside of about 27%.
Bitcoincould be on the verge of another big downturn as the world's most valuable cryptocurrency tests a key support level.
That's according toFairlead Strategies'founder Katie Stockton, who highlighted in a note earlier this week that bitcoin's support range of between $18,300 and $19,500 needs to be decisively held to prevent a further decline.
"Bitcoin has stabilized after a reaction to short-term oversold indications last week, supporting a short-term neutral bias within a bearish long-term trend," Stockton said.
While short-term momentum readings for bitcoin have turned to "Neutral" from "Negative", according to Stockton, intermediate- and long-term momentum readings are still in "strongly negative" territory.
That means risks remain elevated for bitcoin after it broke below its prior support of $27,200 in early June, and those risks were on full display Thursday, when bitcointumbled about 5% to fall below $19,000.
If bitcoin's downtrend continues and the $18,300 support level is decisively broken, Stockton said the next support level to watch is bitcoin's 2019 highs around $13,900. That represents downside potential of 27% from current levels.
Bitcoin has already declined more than 70% from its November high, and a decline to Stockton's secondary support level of almost $14,000 would represent a peak-to-trough decline of 80%, which historically isn't out of the ordinary for the cryptocurrency.
Bitcoin experienced similar declines of 80% or more from its prior all-time-high in 2011, 2015, and 2018. Meanwhile, the cryptocurrency saw declines of about 70% in 2013 and 2019.
The bitcoin decline has helped the cryptocurrency marketerase more than $2 trillion in value, and it's been driven by deleveraging and a lack of confidence following the implosion of stablecoin TerraUSD and more recently,crypto hedge fund Three Arrows Capital.
And investors shouldn't expect a swift recovery in bitcoin prices akin to what happened during the COVID-19 pandemic in 2020. Instead, the crypto decline could last several months, at least until technical momentum indicators show signs of improvement.
"Bitcoin is newly long-term oversold per the monthly stochastics, but it will likely take several months for a long-term oversold 'buy' signal to register," Stockton said.
Read the original article onBusiness Insider || Top Cryptocurrency Exchange Bybit Reduces Margin Requirements with Portfolio Margin Mode: Victoria, Seychelles--(Newsfile Corp. - June 15, 2022) - Bybit, a cryptocurrency exchange with one of the largest BTC futures open interest, has enabled portfolio margin mode for eligible users on June 15, 2022.
Bybit users will now be able to fully leverage their portfolio with greater capital efficiency thanks to the new portfolio margin feature. The portfolio margin mode evaluates positions across Bybit's extensive trading products, and calculates the margin accordingly.
Portfolio margin increases users' capital efficiency by calculating the overall risk across a user's hedged portfolio. Doing this reduces margin requirements, and potentially amplifies return on capital.
For example, under the bull market call spread strategy in regular margin mode based on individual positions, the trader needs to pay the premium required for the option bought. At the same time, the trader will also need to pay the margin required for the option sold, while the combination target return is limited. Under this strategy, users may not achieve the optimal return on capital.
With the portfolio margin mode activated, Bybit calculates the combined risk of options bought and sold. Since most of the risk has been hedged, the margin will be significantly reduced. The more comprehensive approach to risk assessment yields safer and more stable trading strategies and, in turn, higher returns in profit scenarios.
"We are excited about the opportunities Bybit's portfolio margin will open up for Bybit users. As traders ourselves, we understand the importance of having access to the most powerful trading tools and features. To that end, portfolio margin offers one of the best capital efficiency options in the market on one of the most reliable trading platforms out there. This product is another step forward in our growth as a digital asset service provider in our continued effort to meet the needs of the community of 6 million registered users on the Bybit platform," said Ben Zhou, co-founder and CEO of Bybit.
Portfolio margin takes derivatives trading on Bybit to the next level. Users can start with newly launched USDC perpetual contracts plus USDC options with greater capital efficiency. Portfolio margin will be expanded into USDT products in later stages.
Furthermore, traders can be confident that Bybit's tested and trusted TP/SL (Take Profit/Stop Loss) feature will help them to trade derivatives easily with advanced exit position methods. As with all Bybit's leveraged products, users can manage risks and safeguard themselves against excessive losses with multi-layered liquidation protocols to ensure safety and fairness across all Bybit trades, every step of the way.
//ENDS
About Bybit
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, an NFT marketplace as well as API support, to retail and institutional clients around the world, and strives to be the most reliable exchange for the emerging digital asset class. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.
For media inquiries, please contact:press@bybit.com
For more information please visit:https://www.bybit.com/
For updates, please follow Bybit's social media platforms.
Contact:
Dan Edelsteinpr@marketacross.com
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/127831 || Retail investors shouldn’t invest in crypto: Singapore’s deputy PM: Singapore’s Deputy Prime Minister Heng Swee Keat cautioned retail investors to steer clear of investments in cryptocurrencies, saying the nascent asset class “is a highly risky area.” See related article: Singapore wants to bring some adult supervision to crypto Fast facts Many investors suffered losses and even lost their life savings in the recent meltdown of TerraUSD and LUNA, which triggered knock-on effects on Bitcoin and other cryptocurrencies, Heng said . “Retail investors especially should steer clear of cryptocurrencies,” he said. “We cannot emphasize this enough.” The Monetary Authority of Singapore, or MAS, has consistently warned the public against trading in cryptocurrencies, and has taken steps to limit the promotion of cryptocurrencies to the general public earlier this year. However, he said that the digital asset ecosystem comprises an entire range of services beyond cryptocurrency trading. “We remain keen to work with blockchain and digital asset players to encourage innovation, and build up trust in the sector,” he said in his speech. In the past two years, MAS has granted licenses and in-principle approvals to 11 digital payment token service providers, including stablecoin players like Paxos, crypto exchanges like Coinhako, and traditional financial institutions like DBS Vickers. The deputy prime minister also said that Singapore will continue to evaluate applications. See related article: Singapore plans digital assets initiative with financial industry || Roger Ver says he will issue statement on default dispute with CoinFLEX: Early Bitcoin adopter and Bitcoin Cash promoter Roger Ver told Forkast he will issue an official statement before Monday responding to allegations he defaulted on a US$47 million loan in USDC from CoinFLEX. See related article: Roger Ver denies defaulting on US$47 mln loan from CoinFLEX Fast facts Ver told Forkast in a phone interview on Thursday that he will issue a full statement on the allegation. Mickey Amami, an executive assistant for Roger Ver, said the statement will be released over the weekend. While declining to comment on the details of the statement, he said he stands by a tweet he sent on Wednesday morning. The tweet rejected the claim he defaulted on the loan and stated instead he was the one owed money. That tweet “is completely accurate, and I stand by that,” he said in the phone call. Mark Lamb, the chief executive officer of lending platform CoinFLEX, said in a tweet on Wednesday morning that Ver defaulted on a written agreement to guarantee negative equity on his CoinFLEX account. CoinFLEX froze transactions on its platform last Friday citing extreme market conditions and uncertainty of a counterparty whose debt is equal to the amount CoinFLEX now claims is owed by Ver. Several crypto firms are teetering near bankruptcy amid a severe price slump and repercussions from the US$40 billion collapse of the Terra stablecoin and LUNA cryptocurrency in May. Crypto hedge fund Three Arrows Capital was recently declared insolvent by a court in the British Virgin Islands where it is domiciled, while crypto exchange FTX is reportedly closing in on a deal to buy crypto lender BlockFi for US$25 million, a company once valued at almost US$5 billion. Forkast has contacted Mark Lamb and is awaiting his response to the dispute with Ver. See related article: CoinFLEX to issue US$47 mln in tokens as it waits for ‘crypto whale’ to pay up || SEC’s Gensler Reiterates Focus On ‘Complex Products’: Addressing the audience at the International Swaps and Derivatives Association’s annual meeting, SEC Chair Gary Gensler once again brought up the topic of “complex products” and the threat they represent to investors and markets after he addressed such issues as risk reduction, transparency and market integrity as they relate to swaps. After some remarks on the “intersection of crypto assets with derivatives,” Gensler segued into the topic of inverse and leveraged ETFs, noting “These investment products, though, also can pose risks even to sophisticated investors, and can potentially create system-wide risks by operating in unanticipated ways when markets experience volatility or stress conditions.” The footnotes to his remarks cited the sudden closures of leveraged and inverse exchange-traded products during the COVID-19 market crash and the losses suffered by investors in VIX-based products during the Feb. 5, 2018 “Volmageddon.” Immediately in the wake of discussing systemwide risks, Gensler noted that charges had been filed against Archegos and Infinity Q over funds that involve allegations of market manipulation and misleading counterparties in the former case and valuation fraud in the latter. The SEC releases outlining the charges do not mention exchange-traded products, however. “Such conduct, including alleged inappropriate valuations, fraud, or manipulative activity, reminds us that we must promote transparency-enhancing initiatives to lower risk and protect investors,” Gensler said. He added that he had asked the SEC’s Division of Investment Management and Division of Examinations to examine the use of derivatives by registered investment companies to ensure their compliance. Gensler had previously announced a staff review of exchange-traded products as a whole, specifically “complex” products, in October last year. It’s not just the SEC that is focused on this topic. The Financial Industry Regulatory Authority recently closed its public comment period on a proposed rule that could limit investor access to exchange-traded products that are not simple equity or fixed income exposures. Story continues Contact Heather Bell at heather.bell@etf.com Recommended Stories Comment Period Closes For FINRA ‘Complex’ Rule SEC Approves Valkyrie’s ’33 Act Bitcoin Futures ETF WisdomTree Saga Heats Up After Agreement Falters Hot Reads: EU To Phase Out Russian Oil By Year's End Permalink | © Copyright 2022 ETF.com. All rights reserved || Massachusetts man charged with threatening school shooting in Facebook post: A man in Massachusetts was arrested and accused of threatening to commit a mass shooting at a school, according to local police. Justin Moreira, 29, of Hyannis, was arrested on Saturday after Barnstable and Yarmouth police received multiple reports that a man was threatening a school shooting on Facebook . WPRI reports that investigators obtained a search warrant for Mr Moreira's home. They found no firearms there, according to police. Mr Moreira has been charged with making terroristic threats and has been ordered to be held without bail. He'll appear in Barnstable District Court on Tuesday. Police said that the investigation into his threats are ongoing and that anyone with further information regarding the threats should report what they know. According to Cape Wide News , Mr Moreira has a criminal record, including a prior federal convictions for illegally buying a firearm and a silencer. During that incident, Mr Moreira was reportedly charged with purchasing the firearms over a "darknet market." The website he allegedly used operates on the dark web and an undercover agent secured messages showing Mr Moreira inquiring about the potential purchase of several different firearms. The man reportedly settled on a Walther PPK/S .380 calibre pistol and a silencer, which he bought using $2,500 worth of Bitcoin. In 2016, Mr Moreira was sentenced to 42 months in prison after pleading guilty to three counts of felony possession of ammunition and firearms. Mr Moreira's arrest comes nearly a week after an 18-year-old man attacked Robb Elementary School in Uvalde, Texas. The gunman killed 19 students — all fourth graders — and two faculty members at the school. He was eventually killed by Border Patrol agents after spending nearly 90 minutes inside the classroom. Mass shooters have occasionally used social media to telegraph — or in some cases, broadcast — their attacks. Prior to the Uvalder shooting, the gunman reached out to a girl he had been chatting with over an app to tell her that he shot his grandmother and that he planned to shoot up an elementary school. Story continues Weeks before the Uvalde shooting another gunman attacked a predominantly Black neighborhood grocery store and live-streamed the shooting on a helmet mounted camera. He killed 10 people in his attack. Another mass shooting, which took place between two mosques in New Zealand, live-streamed his attack for 17 minutes over Facebook Live. Often in these instances the footage stays online for hours before the platforms where they're hosted remove them. By that point, those sympathetic to the shooters or the morbidly curious will often have made copies to share among other online in private communities. However, some people — like Mr Moreira — post their threats to social media ahead of time. In some cases those threats are acted upon and a potential shooter is thwarted. Others, like shooter Elliot Rodger, posted numerous videos to hosting platforms, including one explaining why he was about to carry out a shooting.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 21637.59, 21731.12, 21592.21, 20860.45, 19970.56, 19323.91, 20212.07, 20569.92, 20836.33, 21190.32
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-12-10]
BTC Price: 7278.12, BTC RSI: 37.94
Gold Price: 1462.60, Gold RSI: 45.62
Oil Price: 59.24, Oil RSI: 59.64
[Random Sample of News (last 60 days)]
Global digital banking consortium announced at Shanghai expo: Chinese fintech firm Hande Financial Technology Holdings (HDFH) has announced plans to form a $1 billion fund for six years’ worth of investment in blockchain technology. At the recent China International Import Expo in Shanghai, the firm claimed that the fund will be used to invest in banking solutions for blockchain-based assets. The first step will involve the transformation of an existing Chinese bank to serve the new fund. To support the fund, three Chinese fintech and banking companies will be joining forces to form the “Global Digital Bank Consortium Blockchain Investment Fund”, which will provide expertise and infrastructure for fund applicants. Banking consortium for digital assets The new consortium, led by HDFH, also features Yillion Bank and the Zhongguancun Private Equity and Venture Capital Association (ZVCA). HDFH is a large Chinese fintech firm with multiple holdings in the blockchain industry. The firm’s subsidiary, Shenzhen Jia Asset Management, became China’s first-ever fintech equity fund manager, and the firm has established two existing venture capital funds. Yillion Bank is one of China’s leading internet banking providers, while ZVCA provides access to a pool of investors with over $300 billion in funds under management. HDFH chairman Cao Tong delivered a keynote speech during the event entitled “Global Investment Opportunities for China’s Digital Banks”, where he discussed the shifting role of banking for digital assets. Sharing HDFH’s plans for the consortium, Tong said: “Based on the investors’ accumulation of experience in the fintech sector, the fund plans to invest in and create a leading digital bank, through which it will build a global digital bank consortium blockchain.” The consortium has also indicated that it will explore investing in other digital banks across mainland China, Singapore, and even in Australia. Blockchain not Bitcoin In October, Chinese President Xi Jinping remarked that blockchain technology was vital for the future of the Chinese economy , however regulators in Beijing have also called for prudent regulation of the industry. Story continues Chinese companies and investment funds seem to be investing heavily in blockchain technology while giving cryptocurrencies such as Bitcoin the cold shoulder. As a result, crypto exchange companies, such as Binance, have been poised to scale-up their activities in China ahead of a blockchain technology boom. The post Global digital banking consortium announced at Shanghai expo appeared first on Coin Rivet . || Bitcoin, Ethereum & Litecoin - American Wrap: 11/7/19: Bitcoin price analysis: BTC/USD must break down $9200-9800 range or be punished The Bitcoin price on Thursday is nursing losses of some 1.5% in the second part of the session. Price action continues to move within consolidation mode, following the strong surge north seen late October. BTC/USD has been narrowing greatly, struggling to breakdown a big area of supply, which runs from $9200 up to $9800, ahead of the big $10,000 mark. Ethereum technical analysis: ETH/USD back to moving within a bearish pennant Ethereum price is trading in the red, down 2.40% the session on Thursday. ETH/USD is back to moving within a bearish pennant structure, subject to further potential downside pressure. The bears failed to break down the strong barrier heading into $200. Litecoin technical analysis: LTC/USD bears pressing for pennant retest Litecoin price is trading in the red, with losses of 4.30% the session on Thursday. LTC/USD daily price action is heading for a retest of a breached bull pennant. Critical support is eyed around the $60 price mark via the daily. Image by MichaelWuensch from Pixabay 0 See more from Benzinga Bitcoin, Ethereum & Ripple - American Wrap: 11/6/19 Bitcoin, Ethereum & Ripple - American Wrap Bitcoin, Ethereum & Ripple - American Wrap © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Latest Bitcoin price and analysis (BTC to USD): Bitcoin (BTC) is currently trading at just below $6,670 following a substantial 7% drop in price since Friday . BTC has now broken most of its support levels and seems to be free falling. Bitcoin has been consolidating since last month, and as such some analysts thought BTC would bounce back up at some point between $7,500 and $8,000. However, price movement went the other way and seems to be going down further. Will BTC recover soon? Let’s take a look at Bitcoin’s chart. At the time of writing, Bitcoin is on a very bearish trend. Lower highs are giving way to significant price drops. Since the massive bull market that took Bitcoin close to $14,000 earlier in the year, the coin has been dropping in value following a downtrend that was only broken in late October when price surprisingly broke through a number of key resistance levels (around the 200-day, 50-day, and 20-day EMAs). Bitcoin is now 35% down from October’s high of $10,350 and over 50% down from the yearly high in June. Last week , I said I expected BTC to find a bottom near its 200-day EMA and that Bitcoin would bounce to around $10,000 soon. BTC has instead broken below its 200-day EMA and there isn’t much support volume to stop its fall. The next stop for BTC, if the volume profile is to be believed, seems to be just above $5,000. The current Bitcoin trend History shows us that BTC is prone to huge drops between 30% and 40% during bull seasons. Therefore, I don’t advise that you fight the trend, but surf it for as long as possible. Last week, I underlined that within the next three to five weeks, we could see a major reversal after a period of serious accumulation by ‘hodlers’. We’re still in an accumulation phase and the current downtrend is proof. Volume is again at yearly highs, currently above $44 billion, due to sell-off activity. This means there is still a lot of room for a further drop. Will the trend reverse soon? As veteran traders and investors usually say, smart money “buys when there’s blood on the streets”. I’ve been saying for the past month that I’m waiting for major drops to make new entries. Moments like these are highly welcomed and appreciated. Story continues I strongly believe Bitcoin to be a long-term store of value, especially as traditional markets continue to show weaknesses. How can the markets continue to push higher throughout the year after the ECB’s recent rate cuts, the continuous share buybacks from huge corporations, or the inverted bond yield shoving investors away towards riskier assets? In addition, repo market activity – as in loans from central banks to commercial and investment banks – has spiked to new monthly records. That adds up to another signal of weakness for the general economy. In conclusion, investors and traders should pay attention to the overall economic panorama, as it will most likely be a major catalyst for worldwide BTC adoption. Safe trades! Current live Bitcoin pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: US Dollar – BTCtoUSD British Pound Sterling – BTCtoGBP Japanese Yen – BTCtoJPY Euro – BTCtoEUR Australian Dollar – BTCtoAUD Russian Rouble – BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On 3rd January 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More Bitcoin news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. The post Latest Bitcoin price and analysis (BTC to USD) appeared first on Coin Rivet . || Kelly Loeffler's deep Wall Street ties: Businesswoman Kelly Loeffler wears many hats, the newest being her appointment to the U.S. Senate by Georgia Gov. Brian Kemp, a Republican, to replace outgoing Sen. Johnny Isakson. Loeffler is a Washington, D.C., outsider who will step down from her post at Bakkt, a startup within Intercontinental Exchange — the company that owns the New York Stock Exchange . Loeffler has been married to Intercontinental Exchange CEO Jeff Sprecher since 2004. Kemp's decision came despite intense criticism from conservative allies of President Trump who wanted Kemp to appoint Rep. Doug Collins, one of Trump's staunchest defenders in Congress. Loeffler, a co-owner of the Atlanta Dream professional woman's basketball team, on Wednesday attempted to assuage the concerns of those who were against her. "I haven't spent my life trying to get to Washington. But here's what folks are going to find out about me: I'm a lifelong conservative, pro-Second Amendment, pro-military, pro-wall and pro-Trump," she said. Wall Street background Intercontinental Exchange congratulated Loeffler on her appointment on Wednesday. "Loeffler played a key role at each stage of the growth of Intercontinental Exchange since joining the firm in 2002," the company said in a statement . "From ICE's roots as a startup to its place among the Fortune 500, Loeffler, a member of the Executive Management Committee of Intercontinental Exchange, oversaw all aspects of the company's investor relations, marketing and communications functions until 2018." HOSPITALS SUE TRUMP OVER PRICE TRANSPARENCY RULE She'll also be leaving Bakkt Bitcoin Futures, where she was founding CEO, to become a senator. The startup is set to launch its own bitcoin options contracts on Dec. 9, Bakkt said . Loeffler will be one of only a few lawmakers with a tech background, which could come in handy as lawmakers wade into questions about regulating Big Tech. Loeffler is also a donor. She's given $606,200, chiefly to Republican causes, since the start of 2018, 11 Alive reported. Story continues What about the 2020 election? Collins has publicly left open the door to challenging Loeffler for the seat, which is up for re-election in November 2020, despite Senate Majority Leader Mitch McConnell, R-Ky., expressing support for Loeffler. "She will be an incumbent Republican Senator," McConnell said in stating that both he and the National Republican Senatorial Committee would back her. At the center of the debate over Loeffler's appointment was a question of who can best help the GOP position itself for success in next year's elections, as Republicans battle to maintain control of the Senate and White House. GET FOX BUSINESS ON THE GO BY CLICKING HERE Loeffler's supporters believe she can widen the Republican tent and appeal to women and suburban Atlanta voters, who have fled the party since Trump's election. Her critics counter that an experienced campaigner with conservative credentials is needed to bring out the Republican base. Conservatives react Conservatives have been divided by Loeffler's appointment. Fox News host Sean Hannity questioned Kemp's judgment on Monday. CLICK HERE TO READ MORE ON FOX BUSINESS "Call Brian Kemp now! Why is he appointing Kelly Loeffler?" Hannity wrote on Twitter . Conservative commentator Erick Erickson said he trusted Kemp. "I know and trust Brian Kemp. I think the Kemp and Loeffler folks need to step it up in conservative outreach now," Erickson wrote on Twitter on Tuesday. "I think pro-life groups have legitimate reasons to be concerned with Loeffler. But I trust Kemp to get the pick right." Fox News' Ronn Blitzer and The Associated Press contributed to this report. Related Articles Fmr. Notre Dame Coach Lou Holtz Predictions for Trump vs. Media Trump May Have Dropped Another Clinton Bombshell Carson: Trump Could Destroy Obama's Legacy || Bakkt to launch consumer app in first half of 2020; will test product with Starbucks: Bitcoin derivatives provider Bakkt plans to launch a cryptocurrency consumer app and merchant portal in the first half of 2020, the firm announced in ablog poston Monday.
In the blog post, Bakkt chief product officer Mike Blandina states, "we’ll be launching a consumer app to make it easy for consumers to discover and unlock the value of digital assets, as well as ways in which they can transact or track them. Merchants gain access to a broader set of customers with expanded spending power."
Blandina also adds that Bakkt plans on testing its consumer app and merchant portal with Starbucks, its first launch partner.
Earlier this year, The Blockreportedthat Starbucks was receiving a generous equity deal as part of its partnership with Bakkt. Sources suggested that Bakkt's equity share was disproportionately high, given that it did not make a cash investment. || HTC launches Exodus 1s “cryptophone”: Smartphone manufacturer HTC today launched the HTC Exodus 1s, a new “cryptophone” that can run decentralized applications and a full Bitcoin node. The Exodus 1s is a cheaper alternative to the Exodus 1, HTC’s previous blockchain smartphone released last year. The Exodus 1s will cost around $250, which some users will be able to buy using cryptocurrency–depending on where you are. According to the release, buyers in Europe and Taiwan will be able to pay in euros (€219) or the Taiwanese dollar (5990 TWD), as well as the equivalent values in BTC, ETH, LTC, BNB or BCH. Other markets have yet to be confirmed. But the $250 price is around a third of the cost of the Exodus 1, which costs 0.15 bitcoin, around $1,200. "We are providing the tools for access to universal basic finance; the tools to have a metaphorical Swiss bank in your pocket," said Phil Chen, decentralized chief officer at HTC. The Exodus 1s is packed with new cryptocurrency features. Notably, it’s possible to operate a full node on the 1s, though users will have to buy a memory card big enough to store the bitcoin blockchain, which is currently around 250 gigabytes. HTC recommends if you're going to do that, to have it connected to WiFi and be plugged into a power source. In an interview with Forbes , Chen said the phone does not currently support Bitcoin mining. Like the Exodus 1, the 1s includes “Zion Vault”—a wallet that uses Trusted Execution Environment (TEE) software to temporarily isolate the operating system when signing transactions, an initiative designed to protect private keys and sensitive data. What’s new, though, is that developers can now build decentralized applications on Zion. And like the Exodus 1, the blockchain-friendly phone also offers “social key recovery”, which lets a user’s contacts come to the rescue should the phone’s owner forget their keys. Where the Exodus 1 uses a Snapdragon 845 processor, the Exodus 1s sports a less powerful Snapdragon 435. Its screen is also slightly smaller, at 5.7 inches to the Exodus 1's 6 inch display. For those looking to pick up the 1s, there may be a wait: HTC’s website currently lists the devices as “Out of stock”. The Exodus 1s will launch initially in Europe, Taiwan, Saudi Arabia, and the UAE. || Where to spend your Bitcoin Cash: One of the main drivers for cryptocurrency adoption is being able to use your crypto to buy goods and services like an actual currency. Bitcoin Cash (BCH) is a fork of the original Bitcoin blockchain and was originally developed to act as a transactional currency rather than a digital investment. So which retailers accept BCH as a digital currency to make purchases? Spending your BCH Looking at the BCH merchants map above (courtesy of BitcoinCash.org ), you can see that most merchants are located in South America and Europe, although there’s quite a few in Australia and the US as well. In addition, Japan also seems to be a growing hotspot for BCH. The merchants available range from 9-5 shops, popular food chains, bars, and newsstands. Moreover, it seems the number of people accepting Bitcoin Cash has been growing as time goes by. Trading your BCH There are a lot of aspects to cryptocurrency trading, such as bid/ask prices, moving averages, and going long or going short. Technical knowledge is incredibly important when trading, since it can be very easy to make mistakes. Exchanges have visible ‘order books’ which portray buy and sell prices in accordance with the current market value of cryptocurrency. Alongside this, there are typically graphs which can help you visualise price action. This can help you to buy and sell Bitcoin Cash at the right time. It would be wise to play around for a while with a small amount of funds to get acquainted with the exchange of your choice. After all, you don’t want to spend all of your savings into BCH and lose it straight away because you do not know the mechanics of the exchange. If you are interested in learning more about trading, check out our guides on support and resistance lines and bid/ask prices , as well as the differences between an exchange and a broker . Other methods Exchanges are not your only option when it comes to buying and selling Bitcoin Cash. You could also use a broker or an over-the-counter (OTC) intermediary to facilitate your needs. You can learn more about OTC deals here . Story continues Trading does not need to be a quick process. You could buy Bitcoin Cash when the price is low then hold on to it until the price goes back up. This would be an investment. Once the price has risen and does not look to rise again, you can sell it for profit. If you’re looking for a fast and secure way to buy or sell Bitcoin Cash, you can also sign up to the new Coin Rivet exchange . The post Where to spend your Bitcoin Cash appeared first on Coin Rivet . || BRICS Nations Ponder Digital Currency to Ease Trade, Reduce USD Reliance: The BRICS association of major emerging economies has discussed developing a digital currency to ease trade in the bloc and reduce its reliance on U.S. dollars in settlement.
The possibility was raised by the BRICS business council at a meeting in Brazil amid talks on the development of a new payments system between its five member nations, Russian news source RBCreportedThursday. Formed in 2006, BRICS is aimed to boost economic and political cooperation between Brazil, Russia, India, China and South Africa.
Kirill Dmitriev, director general of the Russian Direct Investment Fund (RDIF) – the entity that looks set to build the system – told reporters after the event that the forum had mulled a single cryptocurrency for settlements between members. The decision to move forward with that part of the plan is not yet been taken.
Related:Russia Wants to Be Able to Seize Cybercriminals’ Bitcoin
Nikita Kulikov, member of the State Duma’s expert council and founder of PravoRobotov Autonomous Non-Profit Organization, told RBC that, rather than being a digital form of money, the BRICS digital currency would likely be used to facilitate trade transactions.
“Most likely, it will be like certain obligations that can be transferred from one legal entity to another to confirm that the recipient will have claim rights, and the contractor will have obligations for a specific amount. It will not be money, we can say that it will be a paperless document flow to facilitate transactions,” he said.
If that turns out to be the case, the project appears more like trade finance blockchain platforms such as Marco Polo, which hasrecently started working with Russian firms. Indeed the use case for blockchain, or distributed ledger technology, is seen as being bright in the world of trade finance, with a number of efforts underway, includingWe.Trade,TradeWindowandVoltron.
Such platforms reduce the traditional reams of manually prepared and distributed paperwork, allowing a realtime view into the agreement and status of a trade for all participants to see. They can also have automated settlement, powered by smart contracts, built in to fulfill trade obligations when certain conditions (such as a delivery) are met.
Related:Russian Aluminum Plant Pivots to Bitcoin Mining Following US Sanctions
The new payments system, which would use members’ national currencies, appears in part to be aimed at reducing BRICS nations’ reliance on the U.S. dollar, and perhaps boosting the Russian ruble’s role in trade. Dmitriev said BRICS has already reduced its use of USD in settlements over the last five years from 92 to 50 percent, while ruble-based transactions climbed from 3 to 14 percent.
Such blockchain-based threats to the role of the dollar internationally are soon potentially to rise in scope and severity, with the apparent imminent launch ofChina’s digital yuanand hints that the EUmay develop its own e-euro. The Facebook-led Libra project has alsoraised U.S. regulators hackles, presenting as it does an alternative to USD for Facebook’s billions of global users.
BRICS sculptureimage via Shutterstock
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• Final Russian Nuclear Scientist Sentenced Over Illicit Crypto Mining || Chinese soldiers may be rewarded in cryptocurrency for good performance: It seems as if the Chinese are getting extremely enthusiastic about all things blockchain after President Xi Jinping came out in overwhelming support of the technology last month. The president wants to integrate blockchain into the digital economy of China and become a dominant player on the global stage. However, Xi Jinpings narrative was very much blockchain, not Bitcoin. So, whats all this about rewarding Chinese soldiers with cryptocurrency? Rewarding Chinese soldiers with cryptocurrency According to the South China Morning Post , Chinese military newspaper the PLA (Peoples Liberation Army) is waxing lyrical about the use of cryptocurrencies for more efficient human resource management. In other words, the use of token incentives for good performance. The paper suggests that if the countrys armed forces embrace blockchain technology, it would consider a scheme rewarding Chinese soldiers with cryptocurrency. The PLA stated that the technology could drive innovation and greatly improve performance in its ranks. It said that creating some kind of token reward system for its staff could help with everything from performance assessments to special skills, task completion, and training. Quoted in the SCMP, the publication said: To award or deduct tokens according to ones daily performance and thus generate an objective assessment would effectively energise the human resource management. A massive blockchain push in China The article comes just a few weeks after President Xi Jinping came out endorsing blockchain technology, promising more funding and calling for faster development. More efforts should be made to strengthen basic research and boost innovation capacity to help China gain an edge in theories, innovation, and industries of the emerging field, Xi said. While the narrative was about blockchain and did not mention cryptocurrencies, many people argue that the two technologies are one and the same and that they cannot be separated. Story continues China may be talking about private and permissioned blockchains rather than decentralised public ones like Bitcoin, but Xis words still had a massive effect on the market, causing almost all crypto assets to skyrocket, with BTC price going up by as much as 42% in a few hours. It also caused blockchain company shares to sell out in China the following Monday. The separation between blockchain and cryptocurrencies The news has caused a ripple effect throughout China, with local governments immediately pledging funding to the new technology and starting to explore possible applications. The Chinese government has repeatedly stated the separation between cryptocurrencies and blockchain technology, preferring to use the ledger wherever trustworthiness and recording tracking is required. However, the PLA speaking out about rewarding Chinese soldiers with cryptocurrency may show a sea change around the narrative coming out of China. Just yesterday, Bitcoin was featured on the front page of its state media for the first time. Beyond incentives for soldiers, the article also spoke about other ways blockchain could be used within the military for example, to store and secure classified military secrets with high-level encryption. Another example it suggested was an electronic shooting range that detects the marks on a target and feeds them back into blockchain records, creating a performance review and guaranteeing the authenticity of training results. The logistics industry in China is already seeing great success with the tracking and tracing of food products across the supply chain. The PLA now says that it could do the same with its military logistics. There certainly seems to be no end of use cases for blockchain technology nor ideas designed to impress the CPC. But whether rewarding Chinese soldiers with cryptocurrency will enter into the remit remains to be seen. The post Chinese soldiers may be rewarded in cryptocurrency for good performance appeared first on Coin Rivet . || Canadian Fund Manager 3iQ Files Prospectus for Bitcoin Fund IPO: Canadian investment fund manager 3iQ has listed the preliminary prospectus for its bitcoin fund as the next step toward an initial public offering (IPO), the company said Thursday. As reported on Oct. 30, the firm received initial approval from the Ontario Securities Commission to launch the fund on either the Toronto Stock Exchange or the TSX Venture Exchange later this year. A representative told CoinDesk today that the firm expects to list on the Toronto Stock Exchange and begin trading in late December or early January. Related: Canada’s Einstein Exchange No Longer Has Bulk of Users’ Claimed CA$16M: Receiver 3iQ has been in talks with the regulator over the offering for three years, the representative said. The IPO, being led by Canaccord Genuity Corp., is aimed to provide unit (bundles of stock and warrants) holders with exposure to bitcoin and the daily price movements of the cryptocurrency against the U.S. dollar. The bitcoin fund is a closed-end investment fund set up as a trust in the province of Ontario. 3iQ will act as the investment and portfolio manager of the fund, while bitcoin in the fund will be custodied by New York-based cryptocurrency exchange Gemini Trust Company LLC. The firm claims the IPO would be the “world’s first regulated closed-end bitcoin exchange-traded product,” however, there have been similar product launches before. Swiss Amun AG has launched several ETPs for bitcoin and other cryptocurrencies – including XRP, ether and BNB – in the last year on the SIX stock exchange. Related Stories Fintech Arm of Chinese Insurance Giant Files for US IPO After Blockchain Push ASX-Listed DigitalX Seeds New Fund With Half Its Bitcoin Holdings Bitmain Seeking US IPO With Confidential SEC Filing: Report View comments
[Random Sample of Social Media Buzz (last 60 days)]
Teknik Analiz Perspektifi ile #Bitcoin'de Bu Hafta
https://t.co/Qnj2miMv7R https://t.co/eHwypmS8Td || Time to sell ONT for : 0.00478162 BTC in HitBTC Date: 2019-11-12 19:01:39 || Follow live: Astros, Nationals square off in World Series opener https://t.co/E75afy5W4u ▶️ https://t.co/aw3pmZX04g #Bitcoin #Sportsbook https://t.co/o2B47ciPhk || Rise and Shine Bitcoiners!
Sunshine Bitcoin Tee!
Bitcoin Collective.
#investment #blockchain⠀
#Crypto #Bitcoin #Ethereum #LTC #Litecoin #XRP #Innovation #fashion #clothes #cryptocurrency #fiancialfreedom #follow4followback #follow4follow #bitcoinclothing #cryptomerch https://t.co/8eagJy2YlI || BTC
6月から続くBTCのトライアングルは相当煮詰まって来ています。
今は上辺のレジスタンスライン付近での保ち合いです。
上抜けのタイミングは仕手の意向によるところが大きいですが、状況としてはひょっとするとくるかもしれない程度の可能性は考えられます。 || Asia No.1 Texas Hold'em Poker
SSS POKER
Bitcoin and* Neteller
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https://t.co/PJyif1vkN9
#poker #holdem #apt #texasholdem || It's not going to be adoption by the West. That will probably come last imo.
https://t.co/WobfFEAq8i || Analysis of Cryptocurrency - SUPER BULLISH or BTC DUMP Imminent
#BTC #ETH #XRP #Cryptocurrency #Bitcoin || Yo i dont have bitcoin for the mayhem guy to mine so im safe right guys??🎣 || @thibm_ It *is* a belief system. If it were not, we'd all be on the gold standard prior to Bitcoin.
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Trend: no change || Prices: 7217.43, 7243.13, 7269.68, 7124.67, 7152.30, 6932.48, 6640.52, 7276.80, 7202.84, 7218.82
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Alibaba Alert: Charlie Munger Cuts BABA Stock Stake in Half. Should You?: At one time, Alibaba Group Holdings (NYSE:BABA) could do no wrong.
In fact, between 2019 and 2020, the stock exploded from a double bottom low of $130 to a high of $315.46.
Unfortunately, that’s where the stock fell off a cliff to $95.77 — all thanks to a slowing Chinese economy, supply chain issues, covid and heavy competition. Regulatory issues are also still on the table, too. While China eased auditing rules, with concessions to U.S. regulators, the U.S. hasn’t accepted it yet. Plus, we have to consider investors are cutting back on tech stocks, with the Federal Reserve ready to hike rates.
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For one, according toAltron Capital Management, as quoted byInsider Monkey: “The negative headlines surrounding Alibaba seemingly have no end and have certainly tested our conviction in this investment over the past half year or so. The company’s latest earnings report brought lower margins, partially because of slowdown in China and partially because of increased investment into its businesses. Alibaba also lowered its guidance for the coming year, adding even more pressure to the share price.”
JP Morgan analyst Alex Yao, for example, recentlycut his firm’s revenue forecastfor 2022 and 2023, by 2% and 5%, respectively. According to Yao, as noted byTipRanks.com: There are still “downside risks to… consensus expectation for March quarter and June quarter results” in 2022, as “the impact from the COVID-19 resurgence negatively affects the domestic ecommerce operation. The resurgence of COVID-19 cases forced Shanghai to go into a full lockdown on 1 April.”
TipRanksadded that Shanghai accounts for about 4% of BABA retail sales in China.
With all of that negativity, it’s really no shock that Charlie Munger’sDaily Journalcut its BABA stake by half. Munger has not commented just yet. If it were me, I would have sold the full position a long time ago. The downtrend still isn’t over yet, with plenty of uncertainty left.
Eventually, BABA could be a great “blood in the streets” trade, but not now. Give it time.
On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.
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The postAlibaba Alert: Charlie Munger Cuts BABA Stock Stake in Half. Should You?appeared first onInvestorPlace. || FOREX-Dollar soars to new two-year high on growth fears and rate bets: * Dollar index at its strongest since late March 2020 * Euro drops below $1.07, hits weakest in 25 months * Japan's yen bucks trend, gains vs dlr * Chinese yuan off lows after PBOC announcement LONDON, April 26 (Reuters) - The dollar roared to a new two-year high on Tuesday and the euro hit its weakest since March 2020 as concerns about the economic impact of China's COVID-19 lockdowns and aggressive U.S. interest rate hike expectations boosted the greenback. With markets facing a multitude of risks including central banks tightening policy just as economic growth momentum slows, investors have been buying up dollars. The dollar index, which measures the U.S. currency against a basket of rivals, has risen 6.5% so far in 2022. It has gained 3.65% so far this month, which would be its largest monthly gain since January 2015. On Tuesday the index rose another 0.2% to 101.92. The euro dropped 0.3% to $1.068, its weakest since March 2020 when markets were tumbling on concerns about the spread of COVID-19. The euro has been whacked by concerns about the impact of the war in Ukraine on the European regional economy but also by expectations the European Central Bank will move much slower than the Federal Reserve in raising interest rates. "Further (dollar index) upside remains a good bet. China growth risks are rising as authorities pursue an aggressive COVID campaign, conditions around Ukraine remain volatile and 'Fed-speak' remains as hawkish as ever," said analysts at Westpac in a note. China's financial hub of Shanghai has now been under strict lockdown to fight COVID for around a month, while Beijing overnight ramped up plans for mass-testing of 20 million people and fuelled worries about a looming lockdown. China's offshore yuan was slightly weaker in early European trading at 6.583 per dollar, but off the 17-month low of 6.61 hit on Monday. The yuan began to recover after the People's Bank of China soothed some market fears by saying late on Monday that it would cut the amount of foreign exchange banks must hold as reserves. Story continues The British pound dipped 0.1% to $1.2722, having hit its lowest since September 2020 overnight. The Australian dollar at $0.7182 was unchanged but above its two-month low reached overnight after China lockdowns weighed on commodity prices. The dollar fell 0.2% against the Japanese yen , to 127.85. The yen has managed a very slight recovery this week from last week's 20-year low of 129.40. Investors will be watching out for U.S. consumer confidence numbers due later. "Will today's release of April Conference Board consumer confidence have any impact on the pricing of the Fed cycle? We suspect not. DXY [the dollar index] may now be due some consolidation in the 101-102 area, but the trend towards testing the March 2020 high near 103 remains intact," ING analysts said. Bitcoin was 0.56% firmer at $40,668, and fellow cryptocurrency ether was at $3,008. (Reporting by Tommy Wilkes, Additional reporting by Alun John in Hong Kong; Editing by Emelia Sithole-Matarise) || Market Wrap: Cryptos Pare Earlier Losses, Bitcoin Outperforms: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Bitcoin ( BTC ) briefly rose above $30,000 on Tuesday, extending its weeklong trading range higher. Most cryptocurrencies appear to be stabilizing alongside stocks, which indicates a pause in bearish sentiment among traders. Some technical indicators applied to BTC and the S&P 500 remain in oversold territory, although long-term charts suggest limited upside from here. Some alternative cryptos (altcoins) rallied on Tuesday, albeit within a six-month downtrend. For example, Solana's SOL token rose by as much as 2% over the past 24 hours, compared with a 3% rise in BTC over the same period. Still, SOL is down by 50% over the past month, compared with a 35% drop in ether ( ETH ) and a 27% decline in BTC. Just launched! Please sign up for our daily Market Wrap newsletter explaining what happens in crypto markets – and why. On the regulatory front, Alessio Evangelista, associate director for enforcement at the U.S. Treasury Department's Financial Crimes Enforcement Network, spoke at a Thursday conference where he directed the crypto industry to proactively blacklist “problematic” wallets. Also, finance ministers from the Group of Seven (G-7) large developed economies are preparing to call for faster global crypto regulations , according to Reuters. In traditional markets, stocks were mixed, while gold, a traditional safe haven asset, ticked higher. Meanwhile, the U.S. dollar turned lower after reaching its highest level in four years last week. Latest prices ● Bitcoin (BTC): $29,998, +2.56% ● Ether (ETH): $1,995, +1.20% ● S&P 500 daily close: $3,901, −0.58% ● Gold: $1,842 per troy ounce, +1.42% ● Ten-year Treasury yield daily close: 2.85% Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Story continues Bitcoin's relative strength Bitcoin has been outperforming other cryptos over the past few months, which indicates a lower appetite for risk among traders. Typically, bitcoin declines less than altcoins in a down market because of its lower risk profile relative to smaller tokens. The opposite is true in a rising market. Only 15% of the top 50 altcoins have performed better than bitcoin over the past 90 days, according to the Blockchain Center . That indicates an aversion to risk. Over time, however, a sustained rally in altcoins could signal a risk-on environment, similar to what occurred in January and August of last year. Altcoin's season index (CoinDesk, Blockchain Center) The chart below shows the bitcoin dominance ratio, or BTC's market cap relative to the total crypto market cap. The ratio broke above a short-term downtrend last week and continues to tick higher. A sustained reading above 50% would signal a risk-off environment similar to what occurred in 2018. Bitcoin's dominance ratio (Damanick Dantes/CoinDesk, TradingView) Altcoin roundup Hashed Wallet takes a $3.5B hit after Terra's LUNA collapse: Delphi Digital says LUNA tokens accounted for 13% of its assets under management at their peak, while Hashed, an early-stage venture firm, appears to have lost over $3.5 billion. It's the latest fallout from the loss of confidence in Terra's UST stablecoin. Further, l ocal media in South Korea report that more than 200,000 investors in the country hold Terra-related tokens. South Korea’s newly elected president , Yoon Suk-yeol, is pro-crypto and has promised a regulatory framework for the asset class. Read more here . Tether cut commercial paper reserve by 17%: The reduction occurred in the first quarter, according to its latest attestation report . The reduction in commercial paper has continued with a further 20% cut since April 1, which will be reflected in the second-quarter report, Tether announced Thursday . On June 30, 2021 , commercial paper and certificates of deposit totaled $30.8 billion, or 49% of Tether's assets at that time. Read more here . Magic Eden tops OpenSea in daily trading volume: The Solana non-fungible token ( NFT ) market is beginning to find its stride, with daily transactions on the ecosystem’s leading marketplace, Magic Eden , now topping OpenSea, its Ethereum blockchain counterpart. According to weekly data from DappRadar , Magic Eden has seen roughly 275,000 daily transactions, which includes purchases, bids and listings, compared with OpenSea’s 50,000, according to weekly data from DappRadar . Read more here . Relevant insight Panama President Considers Vetoing Crypto Regulation Legislation : The bill was approved during a plenary session of the Legislative Assembly by a 40-0 vote on April 28. US Treasury Official Warns Crypto Industry to Proactively Sanction 'Problematic' Wallets : FinCEN Associate Director Alessio Evangelista said crypto service providers shouldn't wait for the government to designate a wallet if it's being used for illicit activity. Fed Vice Chair Pick and Ex-Ripple Adviser Tells Senators Crypto Needs Regulation : Former U.S. Treasury official Michael Barr fielded questions about crypto during his Senate nomination hearing. MicroStrategy’s New CFO Says Bitcoin Strategy Unchanged Amid Market Drop : Report: Andrew Kang spoke to the Wall Street Journal Wednesday regarding MicroStrategy's bitcoin strategy. Other markets Most digital assets in the CoinDesk 20 ended the day higher. Biggest Gainers Asset Ticker Returns DACS Sector Litecoin LTC +3.9% Currency Bitcoin BTC +2.8% Currency Internet Computer ICP +2.3% Computing Biggest Losers Asset Ticker Returns DACS Sector Algorand ALGO −4.4% Smart Contract Platform Stellar XLM −3.0% Smart Contract Platform Polygon MATIC −1.6% Smart Contract Platform Sector classifications are provided via the Digital Asset Classification Standard (DACS) , developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges. UPDATE (May 18 20:45 UTC): Adds information on the U.S. stock markets and their declines. || Privacy Focused Monero Plans Hard Fork in July; XMR Surges 11% on ‘Monerun’: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Privacy protocol Monero will undergo a tentative hard fork in July which would see improved network security and fee changes, developers confirmed in a GitHub post . A testnet deployment is expected in May. No separate coin will be issued after the mainnet hard fork at a block height of 2,668,888, which is expected to be in July. Hard forks refer to a change to a blockchain protocol that renders older versions invalid. #Monero has a network upgrade (hardfork) on July 16th 2022 at block 2668888. Privacy and performance will be improved! 🎉 The update includes: 🔥Ring sizes will increase from 11 to 16 🔥View tags to speedup wallet/node sync 🔥Multisig fixes 🔥Bulletproof+ 🔥 +more! #xmr $xmr pic.twitter.com/jZ5ouk1uqo — John Foss (@johnfoss69) April 17, 2022 Monero is a privacy-centric protocol that masks the wallet addresses of users making it difficult for others to trace and track transactions. This is unlike bitcoin (BTC) or other cryptocurrencies, where wallet addresses and transactional behavior can be analyzed to determine the identity of their users. What happens after V15? July’s hard fork will be Monero’s fifteenth software version (V15). The previous two versions went live in October 2020 and introduced marginal upgrades. V15 would see an increase in Monero’s ring size from 11 to 16 alongside fixes to its multiple signature (multisig) mechanism. As per developer documents , multisig refers to a transaction which needs multiple signatures before it can be submitted to the Monero network and executed, while ring size refers to the total number of signers in a ring signature. Story continues A ring signature is a type of digital signature in which a group of possible signers is merged together to produce a single, distinctive signature that can authorize a transaction. The V15 upgrade would also introduce “bulletproof+,” an upgrade to the bulletproof technology deployed on Monero in 2018 which ensures that the information stored within a confidential transaction doesn't contain any false information. Did “Monerun” contribute to XMR surge XMR, the native tokens of Monero, surged some 11% in the past 24 hours as developers confirmed the July hard fork. Prices spiked to as much as $277 on Monday night, breaking over a major resistance level at $240. Prices slumped to the $257 level at the time of writing. Monero broke above a major resistance at $240. (TradingView) However, a Bloomberg report pegged a separate catalyst driving demand for the tokens on a seemingly coordinated effort from Monero community members on Reddit. “April 18th. We're withdrawing XMR from exchanges. Any exchange that hasn't disabled withdraws (which many of them have already), we're pulling our funds,” a popular post titled “The Monerun” from last week stated. The date also marked eight years since Monero was initially launched. Looking more and more like exchanges are paper trading #Monero and lying about how much they have to customers. Opt out, get those keys off exchanges and actually own your $XMR : https://t.co/L9dCWRk4Na https://t.co/wqyfh84SEN — Seth For Privacy (@sethforprivacy) April 14, 2022 Community members allege Monero's obfuscated ledger has allowed crypto exchanges to misrepresent their reserves and sell XMR “that they don't actually have.” The bank run of sorts entices community members to pull their holdings from exchanges. This is in a bid to test if the exchanges actually hold XMR or not. Exchanges Binance, Bitfinex and HitBTC did not return requests for comment on the "Monerun" allegations. The three attract some of the highest XMR trading volumes among all other crypto exchanges. || Yieldstreet Partners With Osprey for Latest Crypto Fund: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Online investing platform Yieldstreet announced the opening of its Enhanced Crypto Fund, with Osprey Funds as sub-advisor to the new vehicle. The Yieldstreet Enhanced Crypto Fund plans to invest in 5 to 10 of the largest digital assets by market capitalization, according to the press release . It will include larger altcoins and some emerging blockchain protocols, but will stay away from tokens with security issues or meme coins. The fund has no cap on how much it can raise and will remain open indefinitely, a Yieldstreet spokesperson told CoinDesk in an email. Founded in 2015, Yieldstreet said it has since funded over $2.2 billion of investments. A digital asset manager offering the publicly-traded Osprey Bitcoin Trust, as well as investment trusts for Polkadot, Algorand, Solana and Polygon, Osprey said its crypto products raised more than $100 million last year. In February, Yieldstreet announced its first-ever crypto fund , which gave investors access to Pantera Capital’s early-stage token fund. Yieldstreet at the time told CoinDesk early investors were expected to contribute about $20 million to that vehicle. Read more: Asset Manager Osprey Launches Polygon Fund || How can I quickly pounce on bitcoin's recent bounce? Here are 3 of the simplest ways to start investing in cryptocurrencies: After roughly 12 years of steady adoption, cryptocurrencies and digital assets are starting to hit the mainstream.
There are now more ways to bet on this industry than ever before. Service providers, payment processors and miners have been listed on public stock exchanges. Meanwhile, regulators continue to mullexchange-traded fundsthat track specific digital assets.
The barriers to entry are rapidly disappearing. Investors must now consider which instrument is the best fit fortheir portfolio.
Sign upfor our MoneyWise newsletter to receive a steady flow ofactionable ideasfrom Wall Street's top firms.
Buying cryptocurrencies directly is a breeze these days.
Mainstream payment platforms likePayPaland Square have integrated services enabling users to buy, hold and sell crypto. Investment app Robinhood offers crypto trading too. In other words, you can own digital assets directly within these platforms.
The main advantage of direct investments is that you have full custody over the digital assets and don’t have to pay management fees. That said, you’ll need to be extra vigilant if you choose to own and manage your digital assets directly.
Investing in a hardware wallet, cybersecurity tools, or a password manager are a few different ways to help keep your digital assets safe.
Institutional investors used to view crypto mining companies as largely uninvestable. Generally speaking, the only way crypto miners could fund more growth assets — like buying more hardware — was through selling the bitcoins theyhad already minted.
But crypto miners have started to gain access to equity financing by way of going public, meaning they can now keep more of their digital assets in reserve.
Case in point: Marathon Digital Holdings (MARA). The company recently expanded its reserves to 8,027 BTC — worth $244 million or about 24% of the company’s current market value. If cryptocurrencies surge, Marathon and other miners could see plenty of upside ahead.
The advantage of crypto mining stocks is that they’re easy to buy and sell. They can also be owned in retirement accounts like a 401(k) or Roth IRA. These stocks also amplify the upside of their underlying crypto assets through leverage.
The disadvantage is that the crypto mining industry is highly competitive and margins could come under pressure in the future.
Service providers in the crypto industry could also serve as a proxy for digital assets. Coinbase is probably the best example.
The cryptocurrency exchange is probably the most popular on-ramp for new adopters. The company helps over 89 million users across 100 countries buy, sell, store and transfer cryptocurrencies. It even offers a crypto staking service, payment card and institutional investment service.
The advantage of betting on service providers is that they offer exposure to the entire sector. Coinbase generates revenue on hundreds of different crypto products. The disadvantage, of course, is that these service providers face competition, regulatory uncertainties and the constant threat of cyberattacks.
The best strategy for investing in cryptocurrencies depends on your long-term objectives andappetite for risk.
Sign upfor our MoneyWise newsletter to receive a steady flow ofactionable ideasfrom Wall Street's top firms.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind. || Is this viral 'cheese taco' even better than regular tacos?: Is this “cheese taco” even better than a regular taco? This recipe , made famous on TikTok , makes big, crunchy, delicious tacos. And the best part? The shell is made entirely out of cheese. Bitcoin ETFs: What are they and how to invest in them? The low-carb recipe went viral with some help from a TikToker , @mydeliciouzlife . Then, a major food influencer , Eitan Bernath ( @eitan ), stepped in and made his own, super-sized version . This hack isn’t as easy as say, driving up to the nearest Taco Bell . So is it really worth the effort? We decided to try the recipe out and find out for ourselves. To see what happened, watch the video above, or keep reading. Want more videos like this? Subscribe to Tried It! on Snapchat How to make a ‘cheese taco’ Here’s what you’ll need to pull off this recipe. Of course, all toppings are optional: Mozzarella cheese (shredded) Wooden skewers 2 swing-top bottles, or something similar Ground beef (we used vegan beef crumbles instead) Taco seasoning Peppers (serrano or poblano work best) Onions Avocados Fresh cilantro Limes Comedian LaLa lives out her high school fantasy and splurges on vintage Chanel and Louis Vuitton: To start, heat a small to medium skillet over the stove. Add a few handfuls of the cheese, until a solid layer fills the pan. Heat the cheese past the point of melting, until it starts to bubble and get crispy. Then, flip your cheese, heating the other side for 30 seconds or so. Next, quickly remove the cheese and hang it over two skewers. Suspend the skewers about an inch apart over a pair of swing-top bottles or something similar, letting the cheese collapse and fold into a taco shell (this will take several minutes, and you may have to mold it a bit with your hands, too). Meanwhile, cook your protein and add the taco seasoning, sliced peppers and onions. Once that’s ready, add the mix to your taco shell and top with avocado slices, cilantro and fresh-squeezed lime juice. And that’s it! This recipe isn’t the easiest to pull off, because molding the taco shell can take a few tries. But once it’s ready, it’s more than worth it. This thing is cheesy, crunchy and so big it can hold two tacos’ worth of toppings. We highly recommend trying it. Story continues If you liked this video, check out our attempt at making these viral “black bean brownies.” What's the safest way to conduct sneaker resale transactions? The post This giant, TikTok-famous taco recipe uses a shell made of cheese appeared first on In The Know . More from In The Know: Waitress on TikTok reveals her biggest customer pet peeves The perfect slimming jeans are on sale at Nordstrom for under $50 right now 5 AAPI stories to watch on Disney+ Coach sandals and flats are on sale for up to 40% off at Nordstrom — prices start at just $45 || Brazilian Crypto Unicorn 2TM Lays Off Over 80 Employees: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney , one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter . 2TM, the holding company for Mercado Bitcoin, Brazil's largest crypto exchange by market valuation, laid off over 80 employees on Wednesday. The changing global financial landscape, rising interest rates and inflation have been having a major impact on technology-based companies, 2TM said in a statement. It did not mention an exact number of layoffs, although it did publish a list with 86 profiles of fired employees, along with their contacts. Read more: Winklevoss-Led Gemini Cuts 10% of Staff, Citing Turbulent Crypto Market The company also said that the scenario required adjustments that go beyond reducing operational expenses, making it necessary also to lay off part of our employees. According to its LinkedIn page, Mercado Bitcoin Market has more than 580 employees, while 2TM has more than 80. 2TM's announcement comes a week after Latin American crypto exchange Bitso, Mercado Bitcoin's main competitor in Brazil, laid off 80 employees citing long-term business strategy as the reason. Also last week, the Argentina-based cryptocurrency exchange Buenbit laid off 45% of its staff 80 employees, approximately due to the global overhaul of the tech industry, the company said. 2TM became the second crypto unicorn in Latin America after raising a total of $250 million in 2021 at a $2.2 billion valuation . In January, it acquired a controlling stake in CriptoLoja , Portugal's first regulated crypto exchange, while it planned to enter the Spanish-speaking part of Latin America through acquisitions in Argentina, Chile, Colombia and Mexico, 2TM CEO Roberto Dagnoni told CoinDesk in June 2021 . In March, Mercado Bitcoin was in talks to be acquired by crypto exchange Coinbase Global (COIN), but negotiations failed, Bloomberg reported in May . This article was translated by Andrés Engler and edited by CoinDesk. The original Portuguese can be found here . || GLOBAL MARKETS-Stocks slide on Beijing lockdown fears, dollar shines as rate hikes loom: * China stocks, yuan drop as lockdowns spread * Aussie dollar slides 1% as greenback drives higher * Macron victory little salve for the struggling euro By Tom Westbrook SINGAPORE, April 25 (Reuters) - Asian stocks had their worst session in a month and a half on Monday as fears grew that Beijing was on the verge of joining Shanghai in lockdowns, while the dollar rose to a two-year high on the prospect of slower growth and higher interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan slid 2.5% to a six-week low and the Chinese yuan skidded to a one-year trough. Oil fell nearly 4%. State television in China reported that residents were ordered not to leave Beijing's Chaoyang district on Monday after a few dozen cases were detected over the weekend. The risk-sensitive Australian dollar fell 1.2% and the euro dropped 0.8% to a two-year low of $1.0707 with Sunday's re-election of Emmanuel Macron as French President offering no obstacle to the dollar's rise. With war in Ukraine entering a third month and the lockdown of 25 million people in Shanghai about to tip in to its second month, investor sentiment is fragile amid worries that climbs in consumer prices will lead to rapid global rate rises. S&P 500 futures dropped 0.8% in Asia while FTSE futures and European futures were off by more than 1.5%. Fed funds futures have priced 150 basis points of hikes by the end of July. Traders are also nervous that results this week at Apple Inc , Amazon.com Inc, Microsoft Corp and Alphabet Inc run the risk of disappointment. "I wonder whether just meeting expectations will be enough, it just feels like maybe we'll need a bit more," said Rob Carnell, ING's chief economist in Asia. "It's guidance about the future which will be as important as anything and I suspect most of these firms are going to be coming out and saying it all looks rather uncertain, which I don't think is going to really help." Story continues FEAR FACTOR U.S. markets fell on Friday, when the Dow Jones had its worst day since October 2020 and the CBOE volatility index , dubbed Wall Street's "fear gauge," leapt higher. "Concerns around rates and recession are now the biggest risks for investors" with a particular focus on demand, said Candace Browning, head of global research at Bank of America. "Spiking food and gasoline prices plus the end of key stimulus programs has investors concerned about the low-income consumer's ability to spend." Hong Kong's Hang Seng fell 3.6% and the Shanghai composite slid more than 4%, also hit by concerns that demand is shrinking as well as frustration with tepid policy support thus far. The middle of China's onshore currency trading band was fixed at its lowest level in eight months, seen as an official nod for the yuan's recent slide, and the yuan was sold further to a one-year low of 6.5092 per dollar. Dalian iron ore fell more than 9%. Copper, a bellwether for economic growth, dropped 1.6% and Brent crude futures fell 3.8% to a two-week low of $102.47 a barrel. Palm oil, meanwhile, jumped 6% and the Indonesian rupiah slid following a ban exports from Indonesia that further stokes worldwide food price pressure. The greenback made an 18-month high on sterling at $1.2737, and reached two-months tops on the kiwi, at $0.6584, and the Aussie at $0.7153. The higher dollar pushed spot gold 0.8% lower to $1,913 an ounce. Bitcoin hovered just below $40,000. The Treasury market steadied. The benchmark 10-year yield was at 2.8738% while the two-year yield was at 2.6488%, off last week's highs. This week will also see the release of U.S. growth data, European inflation figures and a Bank of Japan policy meeting, which will be watched for any hints of a response to a sharp fall in the yen, which has lost 10% in about two months. (Reporting by Tom Westbrook; Editing by Edwina Gibbs) || Natural Gas Price Prediction – Prices Drop on Warm Weather Forecast: • Natural gas dropped sharply.
• The weather is expected to be warmer than normal.
• U.S. Natural Gas Supply was flat this week.
Natural gas prices tumbled on Monday after hitting 13-year highs late last week. According to the National Oceanic Atmospheric Administration, the weather is expected to be warmer than normal during the next 6-10 days. Natural gas supplies were unchanged week over week.
According to the Energy Information Administration, U.S. natural gas supply is essentially unchanged week over week. The average total supply of natural gas rose by 0.1% week over week. The small increase resulted from slightly higher domestic dry natural gas production, while average net imports from Canada were flat.
On Monday, natural gas prices tumbled, dropping more than 11%. Prices slid through former support, which is now resistance near the 20-day moving average at 7.29. Target support is seen near the 50-day moving average at 6.01.
Medium-term momentum has turned negative. TheMACD(moving average convergence divergence) generated a crossover sell signal. This situation occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line).
The MACD histogram is printing in negative territory with a downward sloping trajectory which points to lower prices. Short-term momentum has turned negative as the fast stochastic generated a crossover sell signal.
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 31370.67, 31155.48, 30214.36, 30112.00, 29083.80, 28360.81, 26762.65, 22487.39, 22206.79, 22572.84
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-06-05]
BTC Price: 224.95, BTC RSI: 37.42
Gold Price: 1167.80, Gold RSI: 36.92
Oil Price: 59.13, Oil RSI: 52.06
[Random Sample of News (last 60 days)]
Obama's 'Hands Off' Marijuana Policy Put To The Test: President Obama has said that although the federal government still classifies the possession or sale of marijuana as a criminal act, individual states will have the power to decriminalize the drug if they so choose.
However, the fractured laws have created some controversy regarding the legality of the marijuana industry, with many Americans becoming frustrated with the White House's "hands-off" approach.
Now, a lawsuit between states with conflicting marijuana legislation could force the President to take a side.
Border Issues
Colorado's legalization of recreational marijuana has come under fire from neighboring states Nebraska and Oklahoma, both of which still prohibit marijuana use.
The states have filed a lawsuit calling for the Supreme Court to reverse Colorado's marijuana legislation. Both say their law enforcement agencies have been under increased pressure to uphold federal marijuana laws, as more and more people illegally cross the border with pot they purchased in Colorado.
Related Link:Marijuana Industry Blazes The Path For A New Kind Of Lawyer
Obama To Weigh In
On Monday, the Supreme Courtaskedthe White House for its view on the lawsuit, something that will add fuel to the growing debate on whether or not federal laws regarding marijuana should be amended.
So far, the President hasn't made any public comments regarding the case, but its outcome will likely have far reaching consequences for the push for marijuana legalization in the U.S.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Despite Warnings About A Grexit, Investors Remain Calm: With Greece and its EU creditors still trying to work out the details of an agreement to release the nation's bailout funds just days before Athens is due to make loan repayments, policymakers in other parts of the world are beginning to worry that aGreek exitfrom the eurozone is becoming a real possibility.
However, warnings from the U.S. and Canada have done little to upset investors, who appear to firmly believe that the two sides will reach a deal in the 11th hour.
Concern Abroad
On Wednesday, US Treasury Chief Jacob LewwarnedEU lawmakers that a Greek exit from the currency union would be devastating to global financial markets.
Lew appeared worried that European policy makers were complacent now that stability has returned to the region, and he cautioned that a crisis in Greece would almost certainly upset the balance in the region.
Related Link:Will Spain Become The Next Greece?
Canadian Finance Minister Joe Oliver reiterated Lew's remarks, saying that Greece may be small, but the ripple effect of a Greek crisis would be massive.
Lew and Oliver are heading to a Group of Seven meeting in Germany on Thursday, where Greek financial troubles will undoubtedly be a part of the discussion.
Investors Believe Resolution Is In Sight
Despite the tension surrounding Greek debt talks, investors have kept their calm. A Sentix survey of 1,000 investors showed that only 41 percent believe a Grexit is imminent.
That figure, though still high, marks a decline from the 49 percent who saw Greece leaving the euro in April. Although the debt talks have dragged on longer than anticipated, rhetoric from both sides suggest that there is a commitment to keeping Greece inside the eurozone, which has given investors confidence that the deal will be completed before Athens defaults.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin regulation is coming to New York: Bitcoin Accepted Here Sign (REUTERS/Peter Nicholls) A bitcoin sticker is seen in the window of the 'Vape Lab' cafe, where it is possible to both use and purchase the bitcoin currency, in London March 24, 2015. There's a new regulator in town. Daniel Roberts at Fortune reports that Benjamin Lawsky, superintendent of the New York Department of Financial Services, is putting the finishing touches on BitLicense, a policy that "will require digital currency companies to obtain a license in order to transmit money on behalf of customers." This means that the cryptocurrency is getting slightly more legit, though the Bitcoin community is unsurprisingly somewhat unhappy about that. While some people think that regulation is a way to wider acceptance, Bitcoin is by and large a community full of people with serious philosophical opposition to the mainstream system. That's why they created bitcoin. From Fortune: While some welcome [regulation] (such as those rolling out insured exchanges ) because it can bring the currency and the technology mainstream, many are more philosophically motivated, and were attracted to the space precisely because of its lack of regulation. The latter camp includes people like Roger Ver, nicknamed Bitcoin Jesus, who recently told Fortune, Bernie Madoff
was regulated up and down and every which way, and it didnt do any good, he ran away with everyones money
Without all the regulations, we could do so much more already. These bitcoiners should get together with JP Morgan's Jamie Dimon . NOW WATCH: How to supercharge your iPhone in only 5 minutes More From Business Insider Users of now-defunct Mt. Gox can now file a claim to get some of their bitcoin money back One big reason Bitcoin is going nowhere This guy has gamed the airline industry so he never has to pay for a flight again || Bitcoin Shop Signs Letter of Intent to Merge With Spondoolies-Tech: ARLINGTON, VA--(Marketwired - Apr 28, 2015) -Bitcoin Shop, Inc.(OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology company that engages in transaction verification services, announced today that it has signed a Letter of Intent ("LOI") to merge withSpondoolies-Tech Ltd("Spondoolies"), a digital currency server manufacturer. BTCS is embarking on a mission to build a fully integrated transaction verification services business using Spondoolies' state-of-the-art bitcoin mining technology. In the bitcoin network, transactions are typically verified by operators of specially designed servers which ensure speed, efficiency, security and accuracy. Currently, there are only five companies globally manufacturing these servers and Spondoolies is widely recognized as a leader in the space. Both companies believe the anticipated combination of BTCS and Spondoolies will create the world's first publicly traded company to produce Bitcoin transaction verification equipment and deploy Bitcoin mining resources. The merger is subject to a number of conditions, including satisfactory completion of diligence and execution of definitive agreements. There can be no assurance that the conditions to closing will be satisfied or merger will be completed.
"Our key goal in 2014 was to create the partnerships needed to build an ecosystem and start laying the foundation to put our vision into place," said Charles Allen, CEO of BTCS. "Once completed, our merger with Spondoolies would be a significant leap forward in making this ecosystem a reality. We believe this merger once completed would create significant value for BTCS and Spondoolies shareholders, customers, and employees and serve to accelerate the strategic plans in which both companies have invested. As a collective, our next objective will be to complete the development and production of a next generation chip to drive our transaction verification services business and to generate revenue from the combination."
"Over the last several months, we've worked closely with Charles Allen and the BTCS team to establish the nature of our potential partnership," said Guy Corem, CEO of Spondoolies. "The synergy between the teams is amazing. I have the utmost confidence that together we will build a very successful and prosperous company by growing and expanding our business beyond bitcoin mining equipment."
About BTCS:BTCS is a blockchain technology company that provides transaction verification services for digital currency. BTCS is building a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. BTCS continues to actively partner and integrate with strategic digital currency technology companies who provide products or services that are complementary to its business strategy. BTCS operates its public beta site (www.btcs.com) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 250,000 items. For more information visit:www.btcs.com
About Spondoolies-Tech:Founded in 2013 by a group of Israeli high-tech veterans, Spondoolies is a digital currency hardware manufacturer. Spondoolies raised ten million dollars in capital from leading Israeli venture capital firms and assembled a team of leaders in the Israeli Semiconductor industry, with the goal of building the infrastructure on which digital currencies will flourish. Building bitcoin transaction verifying servers from the bottom up, Spondoolies is producing machines that are designed for efficiency and performance. During 2014, Spondoolies successfully launched five different products.
Forward Looking Statements:Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Gold Investment Letter New Blog Report: Bitcoin Shop -- New Bitcoin ETF's May Drive Demand: CHICAGO, IL--(Marketwired - Apr 7, 2015) - The Gold Investment Letter helps sophisticated investors discover and maximize profits in gold , silver , and mining stocks . In today's blog update we have focused on Bitcoin Shop ( OTCQB : BTCS ). The post can be read on our blog page: http://www.goldinvestmentletter.com/blog/ About Gold Investment Letter Gold Investment Letter is an investment newsletter that focuses on gold stocks , mining stocks , and investing in undiscovered companies . We isolate the most undervalued stocks to position ourselves and our subscribers. In today's blog update we have focused on Bitcoin Shop ( OTCQB : BTCS ) The editor of Gold Investment Letter, Eric Muschinski , is President and CEO of Phenom Ventures, President of Investor Media Inc, and a Director with Equities.com. || Bit-X Financial Corp (BITXF) Provides Update on Launch of Bitcoin Exchange: "GO LIVE JUNE 2015" VANCOUVER, BC / ACCESSWIRE / May 21, 2015 / Bit-X Financial Corp. ( BITXF ), a crypto-currency exchange and internet financial services company, today announced that the test environment for the bitcoin exchange is progressing well and on track to go-live in June 2015. Users can now pre-register on the company's website at www.bitxfin.com . "We are very excited to launch our platform as the global interest and recognition of bitcoin rises within the established financial communities," stated Brad Moynes, President of Bit-X Financial. "Our Go Live Date is fast approaching and being able to provide our users an on-ramp advantage will boost awareness to our platform." As previously announced, in April, Bit-X Financial Corp. executed an Exclusive Bitcoin Exchange and Services Agreement with Hong Kong based ANX for the North American market. The proprietary ANX trading and matching engine has been pioneered from the ground up, leveraging the skills of experienced developers with respected and long standing careers working for low latency software development firms. It is designed to manage high volume, high throughput, and low latency trading and was modeled on the same LMAX pattern now also leveraged by the world's largest Investment Banks. This investment banking grade trading platform has a simple and user friendly UI for users to buy and sell all major crypto currencies. It also features one consolidated shared order book for blended multi-currency settlement in addition to real time FX pricing and risk management. The order engine delivers pre-scan indicative pricing and users can choose to either fix the quantity of Bitcoins or fix the price paid for every order. Lock in a guaranteed execution or alternatively lock in the ultimate price you're prepared to pay for your order; the choice remains yours. And this all relies on an order engine that achieves low latency performance along with the reliability of an exchange that has been verified in supporting millions of daily transactions. ABOUT BIT-X: Bit-X Financial Corp is a Vancouver; British Columbia based Company listed on the OTC.QB under the trading symbol BITXF. Bit-X Financial Corp has executed an exclusive North American crypto-currency exchange development and services agreement with Hong Kong based ANXPRO. BITXF for is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC." CORPORATE CONTACT INFORMATION: Bit-X Financial Corp 838 West Hastings Street, Suite 300 Vancouver, BC V6C-0A6 Canada Tel: +1(604) 200-0071 Fax: +1(604) 200-0072 www.bitxfin.com Story continues Media inquiries: Bit-X Financial Corp press@bitxfin.com SOURCE: Bit-X Financial Corp View comments || Euro Reverses Gains As ECB Proves It Means Business: This week, comments from the European Central Bank helped reverse some of the euro's recent gains, something many say is responsible for the region's improved economic performance. The bank has been injecting cash into the struggling eurozone economy for months now, but rhetoric from the region's central bankers suggested that the bank is planning to up its involvement in the coming weeks. Front-Loading On Monday evening, ECB board member Benoit Coeure remarked that the bank is planning to front-load its bond purchases in May and June in anticipation of a summer lull in July and August. In doing this, Coeure said, the bank will be able to maintain its monthly bond purchase average of €60 billion even as most Europeans head out for holiday and markets quiet down. Related Link: Europe Tries To Avoid Cumbersome Laws With New Initiative Going Above And Beyond Coeure's remarks were followed by French Central Banker Christian Noyer's comments that the bank would consider stepping up its involvement to boost inflation if necessary. Noyer reassured investors that the bank would extend its bond-buying program beyond September 2016 if need be, something that further devalued the euro and gave European equity markets a boost. Why Now? Most believe that the timing of the ECB's comments was no accident. The euro's recent recovery could stall the bloc's forward progress, as the currency's decline has helped make eurozone exports more appealing abroad. Additionally, increasing bond purchases in May and June could help offset some of the panic that would ensue if Greece is unable to meet its loan payment deadlines. While most expect the nation to reach a deal with its creditors soon, some analysts say the ECB could be preparing a safety net for markets in the case of a default. Image Credit: Public Domain See more from Benzinga Can Wal-Mart Take On Amazon? AT&T Bets On Connected Cars Bitcoin-Based Security Makes Its Way To Stockholm Exchange © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Cryptocurrency Finds A Place In Education With Smileycoin: Universities and schools offering online education have grown in number over the past decade as students' preferences change and college enrollment fees rise. The low-cost nature of an online education has been one of the largest draws for schools like the University Of Phoenix, which offers everything from a Bachelor's Degree in business administration to a Master's Degree in Education. However for many students, financial constraints and self-esteem issues keep them from even considering a higher education. Gunnar Stefansson is looking to change all of that with an online tutoring project designed to get low-income students involved in their education through the use of digital currencies. Online Tutoring In an effort to increase math proficiency among students across the globe, Stefansson founded Tutor Web , an online tutoring system that helps students by providing courses covering topics like calculus and statistics. Students from around the globe can participate in the classes, designed by Gunnar himself and some of his colleagues at the University of Iceland. Digital Rewards This year, the site added a reward system based on its own cryptocurrency, smileycoin. Smileycoin can be bought and sold on cryptocurrency exchanges and is intended to give students an incentive to participating in the program. Students can earn the coin in a variety of ways from passing a lecture for a relatively small number of coins to earning the highest mark in the class for a larger sum. The site is also rolling out a peer-tutoring option, which allows students to tutor each other and pay for those services using smileycoin. Related Link: Charities Are Turning To Bitcoin The Bigger Picture While the value of smileycoin is still quite low, Gunnar told Benzinga that he sees the platform as a jumping off point for bigger things. While only a handful of students have cashed in their smileycoins on an exchange to date, Tutor Web is hoping to expand the project to include new uses for the coin that could further entice students to make use of the service. Story continues In the future, he hopes to partner with other companies like coffee shops and airlines to offer discounts or video game providers to offer free time for smileycoin payments. Ideally, Stefansson said smileycoin would mature enough to give low income students a way to earn their way to a higher education. See more from Benzinga The Future Of Robots World Leaders Looking For Ways To Fight Back Against Terrorism Using Social Media Pot For Spot: Can Marijuana Treat Pets? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || UK Takes The Spotlight With Uncertain Elections Looming: Although Greece's debt drama has been paramount for investors over the past few months, this week may see more of a focus on what has historically been one of the most stable economies in Europe— the UK.
On Thursday, the region will hold its national elections which have set up afierce battlebetween its Labour and Conservative parties.
A Close Race
Opinion polls in the past weeks have shown that both parties are neck and neck, something many believe will end with neither gaining an overall majority when the vote is over.
Investors are beginning to worry that the May 7 election could end with a hung parliament and a possible multi-party coalition.
UK Position In Eurozone At Stake
The Conservative party has promised to hold a referendum on the UK's membership in the European Union if elected into power.
Although most surveys suggest that the British population is in support of remaining a part of the EU, a referendum vote could have a negative impact on the region's market.
Related Link:U.S. Tech Firms Prepare To Go To Battle
Scottish National Party Gains Ground
Polls have shown that the Scottish National Party is on track to win a sweeping majority of Scotland's seats in parliament, making the group a powerful ally for the Labour Party.
Representatives from the SNP have voiced their willingness to form a coalition government with the Labour party, but say they would refuse to partner with the Conservatives. This is another concern for markets as it could reignite bitter feelings from last year's Scottish independence vote.
No Right Answer
No matter this week's outcome, most expect to see UK markets take a beating in the days following the election. Because of the fragmented nature of this year's vote, a decisive outcome is considered very unlikely.
For that reason, investors will be on edge about the region's future, which could drive the pound and the FTSE lower.
See more from Benzinga
• Here's Where To Invest If You Believe In Self-Driving Cars
• Tesla's New Battery Could Save Money For Pot Growers
• Bitcoin Goes To The Movies
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Meet Europe's newest tax haven and micro-state: Europe's newest "state" welcomed its first citizens this weekend, after a small group of libertarians declared independence for a patch of land on the border between Croatia and Serbia.
The "Free Republic of Liberland" has received no official recognition, but celebrated its first "Liberty Day" on May 1, doling out honorary citizenship to the first 100 attendees to arrive at the party in country.
Its "president", Vit Jedlicka, is a 31-year-old Czech, who is a former financial analyst and self-described libertarian. He said that long-term, he hoped Liberland could become a successful financial center due to its loose tax laws.
"I would categorize it as a tax heaven," Jedlicka said. "The reason why Liberland was created was that the rest of the world ended up being a tax hell."
Nearly 300,000 people have already applied for Liberland citizens, 80 of whom are billionaires, according to Jedlicka.
Jedlicka and two other Czechs formed the new state on April 13 on a patch of woodland near the Danube River between Croatia and Serbia in South East Europe. Liberland said the area was left unclaimed following a border dispute between Croatia and Serbia in the 1940s. For much of the 20th century, both states were part of Yugoslavia.
The new country measures only 2.7 square miles in area, meaning it would rank among Vatican City and Monaco as one of the world's smallest "micro-states."
Jedlicka said forming Liberland was an attempt to shake up the political status quo.
"I tried for five years to change something in politics, but taxes were still rising, regulations were more and more intruding into people's lives, so I sort of found out that I couldn't change it for better," Jedlicka told CNBC.
"My political opponents always told me I should create my own state to show how my liberalism would work. And then I did."
Neither Croatia nor Serbia has recognized Liberland's sovereignty. In an official statement sent to CNBC, the Serbian Ministry of Foreign Affairs described Jedlicka as a right-wing politician and said the "newly created country" was outside Serbia's territory.
"The Ministry also considers this a frivolous act which needs no further comment," the Serbian Ministry added.
A spokesperson for Croatia's Foreign Ministry reiterated a Facebook comment posted shortly after Liberland declared independence in mid-April.
"Virtual quips, no matter how interesting they occasionally sound, remain what they are-virtual quips, and for them we do not have any official comment," the spokesperson said.
But Jedlicka still hopes to gain recognition from other nations and has already set up an an office in Serbia that he plans to convert to an embassy.
Liberland's founders have pulled out all the stops, providing the country with its own laws, constitution, flag and motto: "To live and let live."
For those who missed gaining citizenship on Liberty Day, the country continues to accept citizenship applications online. Anyone is allowed to become a citizen as long as they have a clean criminal record and "do not have communist, Nazi or other extremist past."
Jedlicka said costs of developing and running the country would initially come from citizens, some of whom had already helped raise $15,000 to fund accommodation for the 20 volunteers running the presidential office.
Liberland will be run as a constitutional republic with elements of direct democracy, according to its website. Any currency will be accepted, including Bitcoin(: BTC=), Jedlicka said.
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[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $1,105.37 (29.73 %). BUY B16.73 @ $221.33 (#BTCe). SELL @ $230.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 27 exchange pair(s), yielding profits ranging between $0.00 and $348.70 #bitcoin #btc || current #bitcoin price (winkdex) is $234.53, last changed Thu, 23 Apr 2015 18:20:00 GMT. queried at: 18:22:51 || current #bitcoin price (bitstamp) is $224.00, last changed Mon, 20 Apr 2015 03:47:38 GMT. queried at: 03:47:43 || LIVE: Profit = $1,123.11 (30.23 %). BUY B16.78 @ $221.11 (#Bitfinex). SELL @ $230.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || Try ghostface201 at https://LocalBitcoins.com/ad/107593?ch=w7m … only £157.00 per BTC. (BPI +5.82%) #buy #bitcoin #banktrans || $235.11 at 01:15 UTC [24h Range: $234.00 - $237.35 Volume: 8595 BTC] || 1 #bitcoin 621.16 TL, 241 $, 213.113 €, 158.56 GBP, 11632.00 RUR, 29499 ¥, 1595.99 CNH, 294.23 CAD #btc || @allyprekop, @RichSchultz3 just tipped you 4,450 bits ($1.00) in bitcoin! Get it here ➔ http://changetip.com/c/6jVE?m=11 || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $1,636.22 #bitcoin #btc
|
Trend: up || Prices: 225.62, 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54, 236.82
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-12-20]
BTC Price: 46880.28, BTC RSI: 37.77
Gold Price: 1793.70, Gold RSI: 50.58
Oil Price: 68.23, Oil RSI: 38.19
[Random Sample of News (last 60 days)]
India seeks to block most cryptocurrencies in new bill, government says: MUMBAI (Reuters) -India is looking to bar most private cryptocurrencies when it introduces a new bill to regulate virtual currencies in the winter session of Parliament, the government said late on Tuesday. The government will allow only certain cryptocurrencies to promote the underlying technology and its uses, according to a legislative agenda for the winter session that is set to start later this month. Through the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, India is also looking to make a framework for the official digital currency that will be issued by the Reserve Bank of India. The central bank has voiced "serious concerns" about private cryptocurrencies and is set to launch its own digital currency by December. Bitcoin, the world's biggest cryptocurrency, is hovering around $60,000, and its price has more than doubled since the start of this year, attracting hordes of local investors. No official data is available but industry estimates suggest there are 15 million to 20 million crypto investors in India, with total crypto holdings of around 400 billion rupees ($5.39 billion). Earlier this year, India's government considered criminalising the possession, issuance, mining, trading and transference of crypto assets, but a bill was not introduced. Since then, the government has changed its stance slightly and is now looking to discourage trading in cryptocurrencies by imposing hefty capital gains and other taxes, two sources told Reuters this month. But a senior government official told Reuters that the plan is to ban private crypto assets ultimately while paving the way for a new Central Bank Digital Currency (CBDC) Prime Minister Narendra Modi chaired a meeting to discuss the future of cryptocurrencies amid concerns that unregulated crypto markets could become avenues for money laundering and terror financing, sources told Reuters separately. (Reporting by Aftab Ahmed and Nupur Anand; Editing by Peter Graff and Paul Simao) || Gold Forecast – Gold Price Breakout Over Higher Inflation: Money flows may be turning to precious metals to hedge.Goldcould reach new highs in the coming weeks, in my opinion.
Follow Up:Gold finished Friday above the October high and confirmed my outlook. Today’s breakout above $1840 (bottom chart) supports a strong run for precious metals. Throw in some easy money liquidity, and we could see fireworks over the coming weeks.
Gold prices are approaching critical resistance around $1840. An upside breakout in the coming days would be bullish, in my opinion. Failing to break out above $1840 will keep prices stuck in consolidation.
Goldis breaking above $1840 with ease as consumer prices increased 0.9% versus the expected 0.6%. This may be the beginning of a strong run if gold prices play catch-up to true (non-transitory) inflation.
Final Thoughts:That rip-your-face-off rally mentioned in last week tweet may be starting.
AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For regular updates, please visithere, or follow AG on Twitter athttps://twitter.com/ag_thorson
Thisarticlewas originally posted on FX Empire
• Bitcoin (BTC) Poised To Crack Above $70K After Refreshing ATHs
• Gold Price Prediction – Gold Breaks Out on Robust Inflation Acceleration
• Bitcoin Sets a New All-Time High Above $69k as Market Recovers From Earlier Dip
• Ethereum: The Low-Risk Buying Opportunity Came and Went. $7K Next?!
• Solana Catches Tailwinds With Reddit Co-Founder’s Bet
• S&P 500 Price Forecast – Stock Markets Continue to Digest Gains || Will November Bring a Massive Altcoin Season?: BeInCrypto Bitcoin (BTC) is up 65% in 21 days and has set a new all-time high (ATH) of $67,000. After that, it has been consolidating around $60,000 for the last 2 weeks. Such price action of the largest cryptocurrency provides potentially ideal conditions to initiate altcoin season. This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto || GBP/USD Price Forecast – British Pound Trying to Recover: TheBritish poundhas rallied a bit during the trading session on Wednesday to show signs of life again, as we have sold off quite drastically as of late. Nonetheless, the 1.37 level above is where most traders will be paying close attention to, due to the fact that it is an area that has “flipped the market” in both directions recently. We also have the 50 day EMA sitting on top of the 200 day EMA in that same region, so a certain amount of resistance might be felt in that general vicinity as well.
When you look at this chart, you can see that we had recently bounced rather significantly, and it is worth noting that just yesterday I suggested that if the British pound does not save itself here, it may very well not do it at all. The next major argument of course is going to be whether or not we can get above the 1.37 handle, and if we do then I think we have a good shot towards the 1.3850 level.
The market of course will be paying close attention to the interest rate situation in the United States, as that could greatly influence what happens with the greenback. Obviously, that is half of the pair here, and the US dollar is quite often the main driver of where Forex goes in general anyway. With this being the case, I think we continue to see more of a choppy and dirty market to deal with, but if we were to finally break above the 1.3850 level, then I think we get more of a buy-and-hold scenario.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Silver Price Forecast – Silver Markets Get Pummeled || Hive Blockchain to Raise C$110M to Expand Bitcoin Production: Hive Blockchain is raising C$110 million through a private placement offering of special warrants to boost its mining power by one exahash per second (EH/s), according to astatement.
• The Canadian miner expects to use the proceeds to develop data centers and acquire mining equipment.
• The company will also use the money for working capital requirements and other general corporate purposes.
• Stifel GMP will be the lead underwriter and sole bookrunner for the offering of about 16.7 million “special warrants” of the company at C$6 each. The gross proceeds to Hive will be C$100 million.
• The “special warrant” holders will receive one unit of the company, which if exercised will consist of one common share of Hive and one-half of one common share of a purchase warrant.
• Hive, which is among one of the biggest Ethereum miners,outperformed most other crypto minersin early trading on Tuesday. But at the time of publication, its shares were down over 7% on Nasdaq.
• On Oct. 29, Hive announcedplans to expand its bitcoin mining capacityto 2 exahash per second by December and 3 EH/s by March 2022. An exahash is a measure of computational power. || First Mover Asia: Bitcoin Declines After Reaching a Record High; Ether Also Drops: Good morning, Here’s what’s happening this morning:
• Market moves:Bitcoin soared past $69K before dropping below $65K.
• Technician’s take:Intraday charts are showing initial signs of upside exhaustion.
Catch the latest episodesofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis.
• Bitcoin (BTC): $64,626
• Ether (ETH): $4,613
Bitcoinfaced a pullback below $65,000 in the past 24 hours, a more than 4% decline, after it surpassed $69,000 for the first time in its history during U.S. trading hours on Wednesday. Ether fell to about $4,600, a roughly 3% drop.
The sharp dip came after news that China Evergrande Groupfailedto pay at least some of its international investors interest payments on bonds the real estate giant issued, raising more concerns about a potential default of the company.
The market perceived the new record price above $69,000 as a reaction to the newly published U.S. Consumer Price Index, which jumped to its highest level in three decades.
Data collected by CoinDesk also shows Wednesday’s rally was not supported by strong trading volume. It was lower on Wednesday than it was on Monday and Tuesday across major centralized exchanges.
As CoinDesk’s David Morriswrote, the deeply indebted Chinese real estate developer has been an important factor to the much broader financial market, crypto included. With its roots in China and worries aboutTether’s holdings of Chinese debt, investors may want to watch how Asia’s crypto markets react on Thursday.
Bitcoin Pulls Back From All-Time High, Support Between $63K-$65K
Bitcoin was slightly lower, trading around $65,000 at the time of publication, although buyers could hold support above $63,000-$65,000 into Asian trading hours.
Intraday charts are showing initial signs of upside exhaustion, which typically lead to a brief pullback in BTC’s price. For example, the relative strength index (RSI) on the four-hour chart continues to hover near short-term overbought levels.
Still, upside momentum signals are improving on the daily price chart for the first time since Oct. 1, which preceded a price rally from $44,000. This suggests that buyers could remain active on pullbacks.
Two consecutive daily closes above an all-time price high would yield further upside targets, initially toward $86,000.
Australian Housing Industry Association new home sales (October)
8:30 a.m. Hong Kong/Singapore (12:30 a.m. UTC): Australian unemployment rate (October)
3:00 p.m. Hong Kong/Singapore (7 a.m. UTC): UK manufacturing production
In case you missed it, here are the most recent episodes of“First Mover”onCoinDesk TV:
MakerDAO Is Now Fully Decentralized, Foundry Announces Digital Assets Staking Business and Range of Services for Institutions
“First Mover” hosts spoke with crypto OG and the founder of MakerDAO – a decentralized credit platform on Ethereum that supports the Dai stablecoin – Rune Christensen. He shared his thoughts on the Biden administration’s stablecoin report and the latest decentralization within his organization. Oanda Senior Market Analyst Edward Moya provided markets analysis as bitcoin retreated from an all-time high. Plus, Foundry announced a digital assets staking business and range of services for Institutions supporting 20 blockchains and counting. Foundry CEO Mike Colyer shared details of this launch.
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Not Everything Needs to Be ‘on the Blockchain’
Missed the ENS Airdrop? Here Are the Crypto Projects Rumored to ‘Decentralize’ Next || Fortress Technologies Buys 4,500 Bitcoin Mining Machines From Bitmain: Bitcoin mining company Fortress Technologies has ordered 4,500 Bitmain Antminer S19j Pro machines as it seeks to capture a greater share of mining revenue.
• The purchase will more than triple Fortress’ hashrate from 195 petahash per second to 645 PH/s, the companyannouncedMonday. A petahash is a measure of computational power.
• The machines are scheduled for delivery in monthly instalments from April to September 2022.
• Financial terms weren’t disclosed, and Fortress didn’t immediately respond to CoinDesk’s request for details.
• The purchase follows two weeks after Fortress bought 180 Whatsminers M30S machines, which areexpectedto be installed by the middle of this month.
• Fortress, which is listed on the Toronto Venture Exchange (TSX-V: FORT),underwenta shake-up of its leadership team in September following the departure of CEO Aydin Kilic, whojoinedpublicly traded crypto mining firm Hive Blockchain as president and chief operations officer.
• At the time, Fortress named Antonin Scalia CEO and Drew Armstrong chief operating officer. Both executives came from Galaxy Digital.
Read more:Hive Blockchain Orders Another 6,500 Bitcoin Mining Machines From Canaan || The Crypto Daily – Movers and Shakers – November 15th, 2021: Bitcoin , BTC to USD, rose by 1.68% on Sunday. Following a 0.41% gain on Saturday, Bitcoin ended the week up by 3.49% to $65,474. A bullish start to the day saw Bitcoin rise to an early morning high $65,311.0 before hitting reverse. Bitcoin broke through the first major resistance level at $65,123 before falling to a late afternoon intraday low $63,564.0 Steering clear of the first major support level at $63,539, Bitcoin rallied to a late intraday high $65,474.0. Bitcoin broke back through the first major resistance level to wrap up the day at $65,400 levels. The near-term bullish trend remained intact, supported by last Wednesday’s ATH $68,958. The Rest of the Pack Across the rest of the majors, it was a mixed day on Sunday. Polkadot slid by 3.12% to lead the way down. Cardano’s ADA (-0.57%), Chainlink (-0.93%), Ethereum (-0.37%), and Ripple’s XRP (-0.30%) also saw red. It was a bullish day for the rest of the majors, however. Litecoin rallied by 8.38% to lead the way, with Bitcoin Cash SV (+1.89%) also finding strong support. Binance Coin (+0.13%) and Crypto.com Coin (+0.35%) trailed the front runners, however. It was also a mixed week ending 14 th November for the majors. Polkadot slid by 14.15% to lead the way down, with Ripple’s XRP (-2.60%) also seeing red. It was a bullish week for the rest of the majors, however. Litecoin surged by 38.14% to lead the way, with Crypto.com Coin rallying by 20.11%. Bitcoin Cash SV (+5.15%) and Chainlink (+4.43%) also finding relatively strong support. Binance Coin (+0.11%), Cardano’s ADA (+0.87%), and Ethereum (+0.22%) trailed the front runners, however. In the week, the crypto total market rose to a Wednesday high $3,007bn before falling to a Wednesday low $2,657bn. At the time of writing, the total market cap stood at $2,845bn. Bitcoin’s dominance rose to a Wednesday high 44.62% before falling to a Friday low 42.78%. At the time of writing, Bitcoin’s dominance stood at 43.72%. This Morning At the time of writing, Bitcoin was up by 0.54% to $65,827.0. A bullish start to the day saw Bitcoin rise from an early morning high $65,474.0 to a high $65,883.0. Story continues Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Litecoin (-0.70%) and Polkadot (-0.47%) saw red early on. It’s been a bullish morning for the rest of the majors, however. At the time of writing, Crypto.com Coin was up by 5.64% to lead the way. For the Bitcoin Day Ahead Bitcoin would need to avoid the $64,837 pivot to bring the first major resistance level at $66,111 into play. Support from the broader market would be needed for Bitcoin to move back through to $66,000 levels. Barring a broad-based crypto rally, the first major resistance level would likely cap the upside. In the event of an extended rally, Bitcoin could test resistance at $68,000 levels before easing back. The second major resistance level sits at $66,747. A fall through the $64,837 pivot would bring the first major support level at $64,201 into play. Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $62,927. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Fundamental Daily Forecast – Struggling with Unseasonably Mild Temps, Rising Production AUD/USD Forex Technical Analysis – Sustained Move Over .7335 Shifts Momentum to Upside Best Stocks, Crypto, and ETFs to Watch – Nvidia, Ripple’s XRP and Global X Uranium ETF (URA) in the Spotlight Bitcoin and Ethereum – Weekly Technical Analysis – November 15th, 2021 Shiba Inu Coin – Daily Tech Analysis – November 15th, 2021 How NFTs Can Be More Than Just Tools for Artists || Bitcoin Returns Above $58K as Momentum Improves: Bitcoin (BTC) is holding support above its 100-day moving average, currently around $54,200, as last weeks sell-off stabilizes. The cryptocurrency was trading around $58,000 at press time and could face initial resistance at $60,000-$63,000. Price momentum is starting to recover on the daily chart, which suggests buyers could remain active into the Asia trading day. Additionally, the relative strength index ( RSI ) on the daily chart is near oversold levels similar to what occurred in late September, which preceded a price rally. For now, buyers will need to clear resistance in order to yield further upside targets. Longer-term indicators have shifted neutral as buyers failed to sustain an all-time high near $69,000 over the past month. || Bitcoin Price Prediction Bulls Need to Breakdown Resistance at $68,500 to Deliver $70,000: Its been a mixed morning session for Bitcoin and the broader market. At the time of writing, Bitcoin , BTC to USD, was down by 0.08% to $67,474.0. A mixed start to the day saw Bitcoin fall to an early morning low $67,120.0 before making a move. Steering well clear of the first major support level at $64,647, Bitcoin rose to an early morning new ATH $68,444.0. Falling short of the first major resistance level at $69,035, however, Bitcoin eased back to sub-$68,000 levels. The Rest of the Pack Its also been a mixed morning for the rest of the majors. Cardanos ADA and Litecoin were on the move, rallying by 7.75% and by 8.04% respectively. Bitcoin Cash SV (+1.66%) and Chainlink (+0.01%) were also in positive territory at the time of writing. It was a bearish morning for the rest of the majors, however, with Crypto.com Coin sliding by 10.37% to lead the way down. Binance Coin (-1.54%), Polkadot (-2.44%), and Ripples XRP (-2.88%) also struggled. Ethereum was down by a more modest 0.82%, however. Through the early hours, the crypto total market cap rose from an early morning low $2,883bn to a late morning high $2,924bn. At the time of writing, the total market cap stood at $2,897bn. Bitcoins dominance rose to an early morning high 44.32% before falling to a late morning low 43.94%. At the time of writing, Bitcoins dominance stood at 43.99. For the Afternoon Ahead Bitcoin would need to avoid to sub-$67,000 levels and the $66,156 pivot to bring the first major resistance level at $69,035 into play. Support from the broader market will be needed, however, for Bitcoin to break out from the morning ATH $68,444.0. Barring an extended crypto rally, the first major resistance level at $69,035 would likely cap any upside. In the event of another extended rally through the afternoon, Bitcoin could test the second major resistance level at $70,544. A fall back to sub-$67,000 levels and through the $66,156 pivot would bring the first major support level at $64,647 into play. Story continues Barring an afternoon reversal, however, Bitcoin should avoid sub-$64,000 levels. The second major support level sits at $61,768. Looking beyond the support and resistance levels, we saw the 50 EMA pull away from the 100 and the 200 EMAs this morning. We also saw the 100 EMA pull away from the 200 EMA. Through the 2 nd half of the day, a further pull away of the 50 EMA from the 100 and 200 would bring $70,000 levels into play. Key through the late morning and early afternoon, however, would be to break out from $68,500 levels. A fall back to sub-$67,000 levels would bring support levels into play. This article was originally posted on FX Empire More From FXEMPIRE: Why PayPal Stock Is Down By 12% Today Silver Price Daily Forecast Silver Declines After Yesterdays Upside Move EUR/USD Price Forecast Euro Recovers After Initial Selloff S&P 500 Price Forecast Stock Markets Continue to Reach Higher USD/JPY Price Forecast US Dollar Testing Support USD/CAD Daily Forecast Another Test Of Resistance At 1.2480
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 48936.61, 48628.51, 50784.54, 50822.20, 50429.86, 50809.52, 50640.42, 47588.86, 46444.71, 47178.12
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Plunges Along With Other Coins: (Bloomberg) -- Bitcoin plunged on Thursday in a sell-off that saw other digital assets fall more than 20%, a slide likely to stoke speculation about the durability of the latest boom in cryptocurrencies.
The largest token fell as much as 14% in Thursday trading, heading for one of its worst days since the pandemic-spurred liquidation in March.
The rout began just hours after Bitcoin rose to within $7 of its record high of $19,511, the culmination of a more than 250% surge in past nine months. Fears over tighter crypto regulation and profit-taking after a frenetic rally were among the reasons cited for the sudden drop.
The sell-off gathered pace late Wednesday after Coinbase Inc. Chief Executive Officer Brian Armstrong tweeted about speculation the U.S. is considering new rules that would undermine anonymity in digital transactions.
“News that the Trump administration may clamp down on crypto might have been a trigger for the drop,” said Antoni Trenchev, managing partner of Nexo in London, which bills itself as the world’s biggest digital-coin lender. “But any asset that rallies 75% in 2 months and 260% from the March lows is allowed to undergo a correction.”
Other coins including XRP tumbled as much as 27%, according to prices compiled by Bloomberg.
After garnering more support from Wall Street money managers and fund providers, the rally in cryptocurrencies had looked over-heated. The fierce retreat could stir yet another debate over the their value in diversifying portfolios.
“Conditions are very massively overbought and bound for a correction,” said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore. “So I don’t think it’s unusual.”
Crypto believers tout purchases by retail investors, institutions and even billionaires, as well as the search for a hedge against dollar weakness amid the pandemic, as reasons why the boom can last.
Skeptics argue the cryptocurrency’s famed volatility portends a repeat of what happened three years ago, when a bubble burst spectacularly. Some see signs of retail investors piling in to chase momentum for fast gains, storing up an inevitable reckoning.
Concern about potential U.S. crypto rules help explain Thursday’s price drop across most major digital assets, said Ryan Rabaglia, global head of trading at OSL brokerage in Hong Kong.
“It’s also not unusual to see a short-term pullback following periods of significant, accelerated gains as traders look to take profits before resetting once volatility subsides,” he said. “Once the dust settles, we’re back to business as usual with all medium to long-term bullish indicators still in play.”
Proponents of digital assets say the current focus on cryptocurrencies compared with three years ago is different because of growing institutional interest, for instance from the likes of Fidelity Investments and JPMorgan Chase & Co.
Just this week, Van Eck Associates Corp. launched a Bitcoin exchange-traded note on the Deutsche Boerse Xetra exchange. In October, PayPal Holdings Inc. said it would allow its customers access to cryptocurrencies.
There is also a buzz around Ethereum, the most-actively used blockchain in the world, which is set for a network upgrade that would allow it to process a similar number of transactions as Mastercard Inc. and Visa Inc. The shift to the new system could curb the total supply of Ether, whose price has quadrupled so far this year.
Luno’s Ayyar said he expects Bitcoin to stabilize and achieve all-time highs. But that would be followed by a larger drop in the cryptocurrency, he said.
Soravis Srinawakoon, chief executive of Bangkok-based Band Protocol, said the plunge in crypto was healthy.
“This is just a normal pull back after seven weeks straight of Bitcoin in the green, due to many people over-leveraging.”
(Updates prices)
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©2020 Bloomberg L.P. || Missed the Bitcoin Rally? Here’s a Low-Risk Strategy to Ride the Bull Market: Bitcoin has come a long way since bottoming out below $4,000 in March. The cryptocurrency clocked a record high above $19,900 early Tuesday and is up nearly 170% this year. While institutional participation has increased , a large part of the retail crowd may have stayed away from the market. For that group, the fear of missing out (FOMO) on the opportunity to make triple-digit gains may have set in over the past few weeks. Yet, investing now while the cryptocurrency is trading near lifetime highs may seem risky because there is always a possibility of significant price pullback. Bitcoin has seen several pullbacks of over 20% during the previous bull markets. Related: First Mover: Short Shrift for XRP Token's 169% Price Surge as Traders Obsess Over Bitcoin As such, investors looking to buy bitcoin now should consider implementing a dollar-cost averaging (DCA) strategy, according to leading traders in the cryptocurrency space. “It is a good way to build exposure to both bitcoin as well as other asset classes such as global equity indices, as both look set to perform well against a backdrop of negative real rates for the next few years,” Scott Weatherill, chief dealer at the over-the-counter liquidity provider B2C2 Japan, told CoinDesk. How dollar-cost averaging saves money DCA, also known as the constant dollar plan, involves buying smaller amounts of an asset at regular intervals, regardless of price gyrations, instead of investing the entire amount at one time. The strategy helps investors take the emotion out of their trades and can result in a lower average purchase cost because markets seldom move higher without pullbacks. Read more: 5 Reasons Why Bitcoin Just Hit an All-Time High Price Related: XRP Led November's Crypto Bull Run With 169% Gain “Dollar-cost averaging in bitcoin has historically been a very profitable strategy that lowers drawdown risk,” Weatherill said. To illustrate, let’s say an investor has been accumulating $100 worth of bitcoin at the highest price observed on the 17th of every month, starting from Dec. 17, 2017, when bitcoin peaked at $19,783. As of press time, that investor would own roughly 0.48 BTC at an average cost of around $8,660. It also means the investor would be making a nearly 120% gain at the current market price of $18,850. Story continues However, if the investor made a lump-sum investment at the record price of $19,783 on Dec. 17, 2017, the investment would currently suffer a loss of 4.7%. Over a long period, that loss could be more significant when adjusted for inflation. In the former case, the investor spread out $3,600 over 36 months, buying fewer bitcoin when prices were high and more when prices were low. That helped pull down the average cost and bring in a substantial gain. The strategy has delivered similar results during the previous bull-bear cycles. “Ideally, one must invest with a hope of selling at higher prices in the long run,” Chris Thomas, head of products at Swissquote Bank, said. “The best way, in my opinion, is to buy each month and build up a position over the longer term.” The risk of certain option strategies for retail traders Some investors may think of implementing synthetic strategies through the options market, such as buying a put option against a long position in the spot market. The put would gain value in the event of a sell-off, mitigating the loss (on paper) in the long spot market position. Yet, such strategies are more suitable for speculators who intend to profit from short-term price volatility and go against the idea of pulling down the average purchase cost via DCA. “I wouldn’t recommend buying puts if you are ‘DCAing,’ as it would crimp returns,” Weatherill said. A put option is a derivative contract that gives the purchaser the right but not the obligation to sell the underlying asset at a predetermined price on or before a specific date. A call option gives the right to buy. An option buyer needs to pay a premium upfront while taking a long call/put position. A long put position makes money only if the asset settles below the put’s strike price on the day of expiry. Otherwise, the option expires worthless, causing a loss – in this case, the premium paid – for the buyer. Read more: Bitcoin Price Sets New Record High of $19,850 What’s more, those trying to combine DCA with an options hedge may end up hurting their portfolios. For example, if an investor buys puts while DCAing and the market goes up, the options bought to hedge against a potential downturn would bleed money, crimping overall returns from dollar-cost averaging. “Retail investors should stay away from options trading,” warned Thomas. He added that one particular strategy, selling out-of-the-money calls, is extremely dangerous. Savvy traders often generate additional income by selling call options well above bitcoin’s current spot price and collecting premiums on hopes the market wouldn’t rally above the level at which the bullish bet is sold. However, with short call positions, holders can theoretically suffer unlimited loss because the sky’s the limit for any asset. In the case of bitcoin, that’s particularly risky as sentiment remains bullish, with analysts expecting a continued bull run on increased institutional demand. As such, selling call option(s) while DCAing could prove costly. “While there may be a temptation to optimize through various trading strategies, the new money should stick to sure strategies: 1) stay long, and 2) buy dips,” said Jehan Chu, co-founder and managing partner at Hong Kong-based blockchain investment and trading firm Kenetic Capital. Related Stories Missed the Bitcoin Rally? Here’s a Low-Risk Strategy to Ride the Bull Market Missed the Bitcoin Rally? Here’s a Low-Risk Strategy to Ride the Bull Market || Crypto Funds Have Seen Record Investment Inflow in Recent Weeks: Last week, as bitcoin broke its all-time price high, institutional investors poured the second-highest amount on record into cryptocurrency funds.
According to aReuters reportciting data from digital asset manager CoinShares on Monday, large-scale cryptocurrency funds saw an inflow of $429 million last week alone. The largest-ever weekly inflow was $468 million seen three weeks ago.
The data showed the sector jumped to an all-time high of $15 billion in assets under management (AUM) for the year so far. By comparison, there was $2.57 billion in AUM at the close of 2019. So far,bitcoinhas attracted $4 billion inflows in 2020.
Related:Bitcoin Drops 2% as European Stocks See Losses on Brexit Concerns
Bitcoin hit an all-time high of $19,920 on Dec. 1 in a sharp rally likely fueled by listed firmsmaking treasury investmentsin the cryptocurrency, alaunch of crypto services by PayPaland bullishbillionaire investors.
“We have seen a decisive shift from enquiries of a speculative nature to those that begin with comments such as, ‘bitcoin is here to stay, please help us understand it’,” James Butterfill, investment strategist at CoinShares, told Reuters.
Butterfill also noted that the level of interest is so high, bitcoin is likely only on “the cusp” of institutional adoption.
See also:Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC
Related:First Mover: Why Mohamed El-Erian Might Have Held Bitcoin at $19K
Bitcoin and associated investment products were the most popular out of the cryptocurrency options among bigger investors last week. The top cryptocurrency by market value took the lion’s share of the total AUM at around 334.7 million out of the $429 million across all crypto assets.
Ethercame in second place during the same period. It attracted around $87.1 million, likely from investors wanting exposure ahead of the Ethereum network’s launch of theEth 2.0 Beacon Chainand bullishdecentralized finance fundamentals.
• Crypto Funds Have Seen Record Investment Inflow in Recent Weeks
• Crypto Funds Have Seen Record Investment Inflow in Recent Weeks || Bitcoin Will Run to New Highs in the Next Few Months: Bitcoin has been on a tear lately, running to its highest prices since its heyday rally in 2017. However, I don’t think the rally is over yet. The leading cryptocurrency may not be just getting started, but that doesn’t mean new highs are out of the question.
Source: Shutterstock
Can bitcoin breakout over its prior highs near $19,965?
That high is not a consensus, depending on which data sources one is using. Still, generally speaking this area marks the high. It was hit on Dec. 17, 2017. Bitcoin then plunged to $3,122 a year later.
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What a volatile run bitcoin has seen. It had run more than 2,000% from December 2016 to December 2017, then fell more than 82% over the next year. Even though I have remained bullish on cryptocurrencies over the long term, this type of momentum-fueled blow-off top rally was bound to endure a big correction.
But now we’re back in rally mode and because bitcoin has had so much time to consolidate, the rally can still be maintained. Let’s look at the charts.
Click to Enlarge
Source: Chart courtesy ofTradingView
With bitcoin, we should never “assume” anything. But given the run it has been on and the fact that it’s up more than 14% so far this week, one would assume we’ll finish the week in positive territory.
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If so, it will mark the cryptocurrency’s seventh straight week of gains. If we zoom out to a monthly perspective, bitcoin is working on its second straight month of gains — up 31.6% so far in November — and its fourth monthly gain in the last five months.
As you can see on the multi-year weekly chart above, the $12,000 to $12,500 area was rather significant.
However, before we could challenge that level, bitcoin needed to clear the $10,500 mark, which was resistance for most of 2020. Even before the novel coronavirus pandemic.
The cryptocurrency held the 200-week moving average in March — although with some struggle at first — before turning higher again. Once it broke through $10,500 in July, it then held this mark as support.
When an asset finally breaks through resistance, then holds that mark as support, it’s very bullish price action. Of course, the next level of resistance was the $12,000 to $12,500 area I just referenced. Now through that mark, there isn’t much standing in the way of $19,666.
Perhaps we get a retest of the $12,500 level, although that seems unlikely at this point. Maybe we get a consolidation and retest of the 10-week moving average. In any event, I see this name pushing up to $20,000 within the next few months. I could certainly see bulls wanting to achieve such a feat by year end.
Also note that the 161.8% extension is at $20,078.
Just a few years ago, cryptocurrencies were viewed with skepticism by the public. They didn’t know if it was a scam or if it was real — digital currency? C’mon.
But it’s definitely got a foothold in the future and admittedly, the early days were tough. There were not a lot of exchanges that one could buy and sell bitcoin on. Those that did exist did not always have the best reputation, either. There would be hacks or bankruptcies, sometimes leaving investors out in the cold. No one with any influence wanted to really attach their name to it.
Just a few years later and it’s all much different though.
When the coronavirus selloff crushed markets, froze liquidity and halted the economy, the Fed had to step up. This was done by pumping large quantities of cash into the system. That of course should drive up inflation and inflation-sensitive assets.
While bitcoin wasn’t an instant winner, it was the one to keep an eye on. AsPaul Tudor Jones called it, it’s the “fastest horse” in the group.
That helped bitcoin’s image, as has other companies and investors as they get involved. Retail investors can buy bitcoin via certain brokerages or popular platforms like Cash App. Others are coming to the table, too.
Between more positive recognition, more accessibility via brokers and well-known reputable apps, and strong technicals, bitcoin prices seem poised to go higher.
On the date of publication, Matt McCall held a position in bitcoin. He did not hold a position (either directly or indirectly) in any of the other securities mentioned.
The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
Matthew McCall left Wall Street to actually help investors — by getting them into the world’s biggest, most revolutionary trends BEFORE anyone else.Click here to see what Matt has up his sleeve now.
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The postBitcoin Will Run to New Highs in the Next Few Monthsappeared first onInvestorPlace. || Blockchain Bites: Digital Yuan’s 4M Transactions, Bitcoin’s 33-Month High, Uniswap’s Second Governance Vote: October saw the first time the total value locked in all DeFi protocols closed below the month’s starting value. Square Crypto is sponsoring a bitcoin wallet designer. A new civil suit alleges BitMEX executives were looting profits.
DeFi contractionIn the last week of October, DeFi protocol tokens were bleeding red.
MakerDAO, one the largest and most successful decentralized lenders, started the week at $2.1 billion locked in. By Friday, that had dipped to $1.96 billion, according toDeFi Pulse. Compound, Aave and Curve similarly shed a few million from their valuations.
Related:First Mover: 11 Election Talking Points on Bitcoin as TRUMP Futures Point to Loss
In aggregate, DeFi lost $1.5 billion in the last five days of the month, according to DeFi Pulse. With those losses, October marked the first time since the sector’s bull market began that the amount of cryptocurrency “locked in” DeFi contracted compared in the span of a month.
It wasn’t a steep decline. DeFi’s cumulative valuation stood at $11.28 billion on Oct. 1, and only retreated to $11 billion locked up on Oct. 31. Industry publication Decrypt called the ecosystem’s monthly top at$12.4 billion.
It was this minor decline that may have triggered a more than $2.5 billion sell-off seen this weekend, where the ecosystem retreated to lows of $8.5 billion last seen in early September.
With prices reverting back to over $11 billion (at press time), it doesn’t appear that DeFi is dead.
Related:First Mover: Bitcoin Retreats Before US Election After Dominating Crypto in October
Digital transfersOver4 million transactions totaling more than 2 billion yuan($299 million) have been conducted using China’s digital yuan, Yi Gang, governor of the People’s Bank of China, said. Speaking at the Hong Kong Fintech Week conference on Monday, Yi said the COVID-19 crisis has also accelerated the need for contactless banking, creating challenges for central banks looking to balance consumer needs and safety. That said, the central banker also played down the prospect of an imminent launch, saying the digital yuan project is still in the early stages.
Squaring the cryptoSquare Crypto, the cryptocurrency arm of the payments company, has awarded a grant to a designer buildingeasy-to-use bitcoin wallets. Announced via tweet Friday, Maggie Valentine’s development work will answer the question: “How can we provide an intuitive experience for non-crypto users while preserving the security of a user’s funds?” The award comes less than a month after Square said it had purchased 4,709bitcoinsfor $50 million, representing 1% of the firm’s assets.
Cayman consensusThe Cayman Islands, an autonomous British Overseas Territory in the Caribbean, isbuilding a regulatory frameworkfor “virtual asset service providers” (VASPs). Announced Saturday, the Caymans’ Ministry of Financial Services has entered “Phase One” of the framework, a set of rules spelling out the nation’s anti-money laundering (AML) and terrorist financing regulations. VASPs already working in the Caymans, or planning to, will need to notify and register with the Cayman Islands Monetary Authority (CIMA) and comply with the AML/CFT rules. “Phase Two,” slated to come into force next June, will look at licensing requirements and “prudential supervision” for VASPs.
Voted downA proposal to distribute UNI tokens to those left out of a previous airdrop was not adopted inUniswap’s second governance vote. While many votes were in favor, a quorum was not established, reports CoinDesk’s Zack Steward. Proposed by decentralized finance (DeFi) portal Dharma, “Prop 2” would have sent 400 UNI tokens each to 12,619 addresses that interacted with Uniswap through third-party apps, following a surprise airdrop on Sept. 17, that sent free tokens to anyone who had directly used the platform. A threshold of 40 million voted UNI tokens fell short by less than 2.5 million.
Corporate raiders?The top officers of HDR, the parent company of crypto trading platform BitMEX, which has been charged with facilitating unregistered trading and other violations, systematicallylooted $440,308,400from HDR accounts, a civil lawsuit claims. The suit, filed on behalf of plaintiffs BMA LLC, Yaroslav Kolchin and Vitaly Dubinin, alleges executives began diverting BitMEX’s profits after becoming aware of possible charges in 2019. The U.S. Commodities Futures Trading Commission (CFTC) and the Department of Justice both announced charges against BitMEX on Oct. 1. A spokesperson for HDR called the new civil claims “spurious.”
Blockchain could make dismantling nuclear warheads more secure, King’s College London claims in a recent report. (CoinDesk)
Nigerians protesting police corruption and concerns about a possible internet shutdown are adopting decentralized VPNs, along with bitcoin. (CoinDesk)
Following Coinbase’s announcement, peer-to-peer digital asset marketplace Paxful will launch a Visa debit card. (CoinDesk)
Mongolia’s oldest bank will offer services including cryptocurrency remittance, custody, deposits, asset management and loans (Modern Consensus)
eToro has unveiled a free insurance scheme covering customers for up to £1 million if the firm should ever become insolvent. But crypto holders are left out in the cold. (CoinDesk)
European Central Bank President Christine Lagarde said the agency is seeking public comments about a digital euro, implying a broad retail offering is now on the table. (Survey)
Pop and dropAfter October’s 28% bitcoin rally, the marketappears to be cooling off. On Saturday, BTC notched a 33-month high of $14,093, but was unable to stay above that level. Trading in the mid $13Ks, this minor pullback has validated the short-term bull fatigue. “Unless the market can establish above $14,000, there is a risk that rally stalls here in favor of a healthy retreat,” Joel Kruger, a currency strategist at LMAX Digital, told CoinDesk. At the low end, bitcoin could revisit the former hurdle-turned-support of $12,500.
• Blockchain Bites: Digital Yuan’s 4M Transactions, Bitcoin’s 33-Month High, Uniswap’s Second Governance Vote
• Blockchain Bites: Digital Yuan’s 4M Transactions, Bitcoin’s 33-Month High, Uniswap’s Second Governance Vote || Global Cryptocurrency Market (2020 to 2025) - Growth, Trends, and Forecasts: Dublin, Nov. 17, 2020 (GLOBE NEWSWIRE) -- The"Cryptocurrency Market - Growth, Trends, and Forecasts (2020 - 2025)"report has been added toResearchAndMarkets.com'soffering.Cryptocurrencies which are designed to use for peer-to-peer transactions without being liable to any government or central bank are the latest financial innovations explored not only for the reasons of their being but also for potential risks and opportunities in the financial industry.There are thousands of cryptocurrencies with various design goals. These design goals are to provide a digital currency alternative to cash (Bitcoin, Monero and Bitcoin cash), to support payment system at low-cost ( Ripple, Particl and Utility Settlement Coin),to support peer-to-peer trading activity by creating tokens ( RMG and Maecanas), to facilitate secure access to a good or service in peer-to-peer trading (Golem, Filecoin) and to support underlying platform or protocol ( Ether and NEO). These design goals mentioned won't be exhaustive as new cryptocurrencies are being created every week. Blockchain is the underlying technology for most of the cryptocurrencies.The cryptocurrency market is segmented based on the market capitalization of large number of cryptocurrencies. The cryptocurrencies overlap with key areas of monetary and financial system. Given their rapid growth, complexity, high volatility and potentiality for facilitating illicit activities, regulators and policy makers across the world are bothered about their inclusion into the existing system and revising the existing systems to fit them, if included.Key Market TrendsA brief on the Volatility in the Market Capitalization of CryptocurrenciesThe evolving nature of this market with new cryptocurrencies created every week it is difficult to know how big the cryptocurrency market is. A wide scope of market exchanges for cryptocurrency trading, spread across the globe because of their privacy protection features as well as rapid growth, extreme price volatility, and market illiquidity add to the complexity of the cryptocurrency market. The market capitalization of cryptocurrencies over the years shows how high the price volatility of the market is.The estimated cryptocurrency market capitalization, for example, during the month of January 2018, varied between 400 billion USD and 800 billion USD which was at 566 billion USD at the beginning of the year 2018 and finally settled at 128 billion USD by the end of the year 2018. In terms of transaction volumes, bitcoin alone had the highest number of 200,000 average daily transactions.Adoption of Blockchain Technology Increasing on a Robust PaceEnterprise adoption of the blockchain technology has quietly reached a tipping point across multiple use cases. Companies who have recognized value from their initial pilot projects are now moving towards turning these projects into production. Specifically there is still uncertainty about this technology in the areas of regulations and governance, but the adoption of blockchain for financial services, identity, trade and other markets are increasing.Global blockchain spending will be led by the banking industry followed by discrete manufacturing and process manufacturing with a combined market share of about 50% of overall spending. In the banking industry, the spending will be driven by two of the largest use cases - cross border payments & settlements and trade finance & post-trade settlements.Spending on blockchain solutions will be the highest in the United States followed by Western Europe and China. All the regions shown in the infographics are expected to see phenomenal growth in the coming years.Competitive LandscapeThe report includes different segments like coin product developers, mining services, cryptocurrency exchanges, wallet companies, etc along with a note on recent mergers and acquisitions that shaped the ecosystem.Reasons to Purchase this report:
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Key Topics Covered:1 INTRODUCTION1.1 Scope of the Market1.2 Market Definition2 RESEARCH METHODOLOGY2.1 Study Deliverables2.2 Study Assumptions2.3 Analysis Methodology2.4 Research Phases3 EXECUTIVE SUMMARY4 MARKET INSIGHTS AND DYNAMICS4.1 Market Overview4.1.1 A Brief on the Structure and Technological Aspects of Cryptocurrencies4.1.2 Price Volatility of the cryptocurrency market4.1.3 Market Capitalization of Major Cryptocurrencies4.1.4 Rationale for widespread Crypto Mining Areas Across the Globe4.2 Major Concerns for Policymakers About Cryptocurrencies4.2.1 Effects of Cryptocurrency Market on Eonomic Efficiency and Growth4.2.2 Impact on Financial Stability due to Cryptocurrenncy Adoption4.2.3 Effects on Monetary Policy due to Cryptocurrency Adoption4.2.4 Effects on Fiscal Policy due to Cryptocurrency Adoption4.2.5 Probable ways of Taxation of Cryptocurrency Market4.2.6 Cons of Cryptocurrency Adoption into Financial Ecosystem4.2.7 Tools at the Disposal of Policymakers to Counter the Cons of Cryptocurrency Adoption4.3 A Brief on Investment Outlook in Cryptocurrency Market4.4 Latest Developments in the Cryptocurrency Market4.5 Market Drivers4.6 Market Restraints5 MARKET SEGMENTATION AND ANALYSIS5.1 Geography5.1.1 Americas (United States, Canada, Latin America and Caribbean)5.1.2 Europe5.1.3 United Kingdom5.1.4 Asia-Pacific5.1.5 Middle East & Africa5.2 By Design Goals5.2.1 Digital Cash Coins5.2.2 Payment Infrastructure Tokens5.2.3 Securities Tokens5.2.4 Utility Tokens5.2.5 General Platform Tokens5.2.6 Others5.3 By Market Capitalization5.3.1 Bitcoin5.3.2 Ethereum5.3.3 Ripple5.3.4 Bitcoin Cash5.3.5 Cardano5.3.6 Others6 COMPETITIVE LANDSCAPE6.1 Overview (Market Concentration and Major Players)6.2 Mergers & Acquisitions6.3 Segments and Company Profiles6.3.1 Coin Product Developers6.3.2 Mining Services6.3.3 Cloud for Bitcoin6.3.4 Cryptocurrency Exchanges6.3.5 Wallet Companies6.3.6 Payment and Trading Solution Providers6.3.7 Others7 MARKET OPPORTUNITIES AND FUTURE TRENDSFor more information about this report visithttps://www.researchandmarkets.com/r/amzz4m
Research and Markets also offersCustom Researchservices providing focused, comprehensive and tailored research.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 || The Most Googled Money Questions — Answered: Multiethnic group of young school children raising their hands to answer a question posed by the teacher. Google really is the place to go if you have burning questions that you?re too ashamed to ask a friend. At the end of 2018, Google included money questions as a category in its ?Year in Search? list. Here are the biggest money questions people have had ? with updated and timely answers for 2020. Last updated: Nov. 2, 2020 New Jersey mansion How Much Is My House Worth? It?s the question all homeowners ask themselves as they toss and turn at night ? it?s no wonder people are turning to Google for the answer. woman browsing Zillow real estate website at home The Answer Your home was likely a hefty purchase ? that you continue to make mortgage payments on ? so it makes sense for homeowners to want to know the value of their homes. It?s also nice to know that information in case you want to sell it at any moment. Data from nearby properties and recently sold homes in your neighborhood all contribute to the fair market rate on any given date. For the research- and math-averse, online calculators on Zillow and RedFin provide estimates using only your home address. Bitcoin crypto currency trading chart What Is Bitcoin? We?re all familiar with paying by cash or credit card, but how exactly does cryptocurrency work? Programmer preparing mining rig with GPU. The Answer Its popularity and price are nowhere near the highs of late 2017 when it peaked at almost $19,000, but bitcoin still remains a mystery to the public. In simple terms, bitcoin is the world?s first cryptocurrency. Buying bitcoin, or any cryptocurrency, won?t give you physical notes as it?s an all-digital currency that isn?t backed or issued by any bank or government. The price is determined by market supply and demand and bitcoin can be purchased simply using a smartphone app. Along with the other markets, bitcoin dropped in price in March 2020 to a low of $5,165. It has soared back since then to $13,803 as of Oct. 30. Taiwanese senior woman sitting at table, using calculator and writing results on paper. How To Write a Check It?s something most of us do so infrequently now, it?s no surprise that many people are using search to figure out how to write a check ? if they even have any on-hand. person signing a check The Answer Checks can be ordered through any commercial bank and are typically connected to the money in your checking account. To write out a check correctly , simply fill in the blank lines with the requested information: Story continues Fill in the current date. Write the name of the person or organization you are paying on the line that reads ?pay to the order of.? Fill in the numerical form of the amount you are paying in the rectangle to the right of the ?pay to the order of? line. In the next line, write out the dollar amount in words. For example, if you were writing a check for $150.50, you would write out one hundred and fifty and 50/100. Take up as much of the line as possible to avoid fraud and limit amount confusion. In the memo line, write what the money is earmarked for. This could be rent, a birthday present or a utility bill ? the possibilities are endless. Sign on the line in the bottom right-hand corner. Keep a record of the check using the check number and the amount in your register and you?re set. How Many Square Feet You Can Get for $300,000 How Much House Can I Afford? While homeowners are wondering if their home value has gone up or down, renters are wondering if they can afford to buy a home instead. A row of houses reflected in a pond. The Answer A house is likely one of the most expensive purchases someone will make in their lifetime, so it stands to reason that people are unsure of exactly how much or how big of a house they can afford . Conventional wisdom suggests abiding by the 28/36 estimation rule. That means your mortgage payment ? don?t forget property taxes and homeowners insurance ? should be no more than 28 percent of your pre-tax income. Add up all of your debts ? meaning student loans, medical bills, credit card debt, auto payments and that mortgage ? and the amount shouldn?t more than 36 percent of your pre-tax income. Where Is My Tax Refund? This question was especially relevant this year, as the filing deadline got pushed to July 15 from April 15 thanks to the coronavirus. Another frequently googled question: Where is my stimulus check? Shot of a young woman using a laptop and headphones on the sofa at home. The Answer It should come as little surprise that taxpayers wanted to find out when they can expect their returns. Fortunately, you won?t have to wait long once you file. The IRS issues over 90 percent of tax returns within three weeks of filing, according to its website. However, this time frame could expand if your tax forms include errors. Furthermore, don?t always expect to see your return three weeks to the day. Weekends and holidays might delay processing, which includes returns funded via direct deposit. The IRS also offers the ?Where Is My Refund?? tool that tracks your refund status. To use it you will need: Social Security number or ITIN Your filing status Your exact refund amount More From GOBankingRates 37 Ways To Save For Your Emergency Fund and Any Unexpected Situations Are You Spending More Than the Average American on 25 Everyday Items? 31 Hidden Ways You?re Bleeding Money Every Month Guns and 32 Other Things You Definitely Do NOT Need To Buy During the Coronavirus Pandemic Mark Evitt contributed to the reporting for this article. This article originally appeared on GOBankingRates.com : The Most Googled Money Questions — Answered || US Seized More Than $1B in Silk Road–Linked Bitcoins, Seeks Forfeiture: The U.S. is suing for the forfeiture of thousands of bitcoins, totaling more than $1 billion, that it recently seized, the Department of Justice said Thursday.
• The seizure on Tuesday, tied to early darknet market Silk Road, is the largest the U.S. has ever conducted, the DOJ said.
• Court documentsreveal the seized funds include over 69,370 bitcoin and nearly equivalent amounts of forked cryptos bitcoin cash (BCH), bitcoin gold (BTG) and bitcoin satoshi vision (BSV).
• Prosecutors say an unnamed hacker stole the trove from Silk Road and moved them to a wallet where they sat from April 2013 until the Tuesday seizure.
• The individual consented to the government seizure on Tuesday.
• The news comes days after blockchain intelligence firm Elliptic reported that a wallet possibly belonging to the Silk Road marketplace moved almost $1 billion worth ofbitcoinearlier this week.
• This was the first transaction from the address since 2015, when it transferred 101 BTC to BTC-e – a now-shuttered cryptocurrency exchange allegedly favored by money launderers, Elliptic said. BTC-e operator Alexander Vinnik has been in custody in Europe since 2017.
• Earlier this week, Elliptic co-founder Tom Robinson speculated the coins may have been moved by imprisoned Silk Road operator Ross Ulbricht or a Silk Road vendor.
• Ulbricht – who operated under the pseudonym Dread Pirate Roberts – operated the darknet website from 2011 until his arrest in 2013 and is currently serving a life sentence.
Since the coins have sat dormant in the wallet for years, unavailable for trading, their confiscation appears unlikely to have played any role in the recent run-up in bitcoin’s price. On the contrary, if the government were to auction them as it typically does, the coins could rejoin the circulating supply.
This is a developing story; refresh for updates.
Related:Nearly $1B in Bitcoin Moves From Wallet Linked to Silk Road
Read the court filings below:
Read more:Nearly $1B in Bitcoin Moves From Wallet Linked to Silk Road
• US Seized More Than $1B in Silk Road–Linked Bitcoins, Seeks Forfeiture
• US Seized More Than $1B in Silk Road–Linked Bitcoins, Seeks Forfeiture
• US Seized More Than $1B in Silk Road–Linked Bitcoins, Seeks Forfeiture || Bitcoin hits new all time high close to $20k, driven by institutional buying: The price of bitcoin hit a new all-time-high on Nov. 30, driven by institutional buying and other factors that have accelerated in 2020.
Read more:Bitcoin: 74 questions answered
Bitcoin’s previous peak was in mid-December 2017, almost exactly three years ago. But different bitcoin exchanges and data sitesvary on what that 2017 peak actually was: Bloomberg, using terminal data,pegs it at $19,511; CoinDesk, the bitcoin news site,lists it at $19,783; CoinMarketCap, the data partner Yahoo Finance uses for our cryptocurrency charts, says $20,089, while the crypto exchange BitMEX says $20,093, the highest range of all-time-high estimates. (The reason for the range is that many exchanges give a blended average of market prices from multiple exchanges.) Bitcoin topped $19,800 on Monday morning, a new record based on most data sources, but only once it hits $20,100 will all sites likely agree on a definitive new high.
As of Monday, bitcoin is up 174% in 2020.
Aftercrashing 25% in the second week of March, the top cryptocurrencybegan soaring amid the COVID-19 pandemic, helped by its scarcity (bitcoin’s supply will be capped at 21 million coins) in contrast with central government monetary easing. The initial uncertainty of the U.S. presidential election result also helped bitcoin, which is seen as a hedge against macro uncertainty, and Joe Biden’s official win helped further, as he will likely deal with a Republican Senate.
But thebiggest influencers on bitcoin’s 2020 ride have been two groups: Wall Street firms warming to bitcoin, and two major consumer-facing payments companies, PayPal and Square, publicly embracing it.
The evidence of Wall Street’s growing interest is clear from the gains of Grayscale Investments, the largest crypto investment firm, whichtopped $10 billion in assets in the Q3. (Grayscale is owned by Barry Silbert’s Digital Currency Group, the largest investor in cryptocurrency startups.)
Grayscale’s Bitcoin Investment Trust (GBTC), apublicly traded fund pegged to the priceof bitcoin, wascited this week by strategists at JP Morganas a leading indicator of institutional sentiment. “A failure by the Grayscale Bitcoin Trust to receive additional inflows over the coming weeks,” JPM strategists wrote in a new note, “would cast doubt to the idea that institutional investors such as family offices have embarked on a trend of embracing bitcoin as digital gold replacing traditional gold as a long-term investment.”
In Q2 of this year, more than a dozen well-known Wall Street firmsdisclosed with the SEC new investments in GBTC, including ARK Invest and Boston Private Wealth. Buying or selling by big firms can cause particularly large price swings with bitcoin because a small number of whales own a large majority of the bitcoin in circulation.
Meanwhile, JPMorganlaunched JPM Coinlast year, an internal digital token for use by the bank’s institutional clients. The token is overseen by the bank’s Onyx unit, and Onyx CEO Umar Farooq wrote in a blog post, “We have always believed in the potential of blockchain technology, and we are supportive of cryptocurrencies as long as they are properly controlled and regulated.” More recently, JPMbegan allowing customer transfers in and out of Coinbase and Gemini, two U.S. crypto exchange sites. All of this has happened despite CEO Jamie Dimon reiterating this month that bitcoin is “just not my cup of tea,” though he added, “We will always support blockchain technology.”
In contrast to Dimon’s rhetoric, a handful of influential Wall Street investors have made waves this year with comments about bitcoin as a good investment. In May, hedge fund titanPaul Tudor Jones said he has put nearly 2% of his portfolio into bitcoin. He called it a “great speculation.” This month, billionaire investorStan Druckenmiller said that he owns some bitcoin, telling CNBC he owns a lot more gold than bitcoin, but “if the gold bet works, the bitcoin bet will probably work better, because it’s thinner, more illiquid and has a lot more beta to it.”
As for PayPal, on Oct. 21 the payments giantannounced it will soon allow buying of bitcoin and other cryptocurrencies, and paying with bitcoin, through its PayPal and Venmo digital wallets. The news sent PayPal shares and bitcoin soaring.
“Impending inflation is something that is more and more on people's minds, and inflation as a mechanism to devalue assets leads people to seek safety,” said Chainlink cofounder Sergey Nazarov on Yahoo Finance Live last week. “That seeking of safety leads them to look at alternatives. The modern global financial system is not very well set up to help people combat inflation, whereas there are alternatives, such as bitcoin, that are. I think this is one of the things that probably drove PayPal, a very consumer-centric company that does a lot of research about consumers’ wants, to give up limited real estate in their application for the acquisition of crypto assets by users.”
Squarehas shown its faith in bitcoin since 2018, whenit added the ability to buy and hold bitcoin to its Cash App. This year the company went a step further by buying $50 million worth of bitcoin as an asset for its balance sheet. The company’s bitcoin bets have been driven byCEO Jack Dorsey, andthey’ve already paid off: Square’s bitcoin revenue from Cash App trading was $1.63 billion in Q3, up 618% from Q3 2019, and its Q3 bitcoin profit was $32 million, up 1,500% from Q3 2019.
With bitcoin, buying begets more buying. Public displays of confidence in the asset from Wall Street firms, influential Wall Street names, PayPal, and Square have prompted more buying from curious retail investors.
—
Daniel Roberts is an editor-at-large at Yahoo Finance and closely covers bitcoin and blockchain. Follow him on Twitter at @readDanwrite.
Read more:
Bitcoin is surging in 2020 and nearing its all time high — here's why
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Square's bitcoin bet is paying off
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Amazon tells employees to delete Tik Tok, then says email was ‘sent in error’
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Lloyd Blankfein: It would be ‘arrogant’ to dismiss bitcoin entirely || Flaw in Bitcoin SV Multisig Wallet Puts Funds at Risk: When Bitcoin SV (BSV) forked from Bitcoin Cash, its mandate to create a faster, payments-focused blockchain required gutting some of Bitcoin’s key technical features. In doing so, it gutted some of Bitcoin’s key features; now, it’s worse off for it. One of these features, the so-called pay-to-script hash (P2SH) function, allows a user to send a transaction by signing it to a “script” rather than a public key address. These scripts create special conditions that must be met in order to access the bitcoins sent to them, and they are most often used in multisignature transactions – or, transactions that require more than one party to approve. Related: Market Wrap: Bitcoin Drops as Low as $14.8K; ETH Options Open Interest at Record High Before P2SH transactions came to Bitcoin in 2012, Bitcoin’s only transaction type would send payments to a public key address through the pay-to-public-key-hash (P2PKH) function. BSV’s homebrewed multisig wallets have been hacked Bitcoin Core developer and former Blockstream CTO Gregory Maxwell posted on Reddit’s r/bsv that BSV developers removed the P2SH feature some time ago from the BSV blockchain’s code. In the ElectrumSV wallet (“and presumably elsewhere,” Maxwell says in the post), developers replaced the feature with a bootleg, BSV-specific version called “accumulator multisig” that utilized P2PKH transactions instead. There’s a reason Bitcoin uses P2SH for multisig and not P2PKH, because the latter is not ideal for multisignature transactions. It’s so insecure, in fact, that BSV holders are losing funds, Maxwell says in the post. Related: Buggy Code in This Compound Finance Fork Just Froze $1M in Ethereum Tokens “These scripts had no security at all,” he explains. According to Maxwell, the code’s architects only checked to see if the multisig transactions would work with the exact number of private keys needed to send the transaction (a multisig wallet requires more than one private key to authorize a transaction). They did not test transactions if more or fewer keys than necessary are present. Story continues In his testing, Maxwell found two significant problems: first, that multisig spends fail if more than the minimum number of keys sign a transaction. Second, anyone could tap the multisig funds “with too few signatures (such as none at all).” Read more: In Big Block Hard Fork, Craig Wright’s Bitcoin Has Left Nodes Behind One BSV user, Aaron Zhou, lost 600 BSV to an attack exploiting this weakness on his multisignature wallet. When enquiring about the loss to a developer in a BSV chatroom, Zhou said that he trusted “it was safe enough” because “it was introduced by CoinGeek,” a pro-BSV media outlet bankrolled by Calvin Ayre, a close friend of BSV creator Craig Wright. By way of response, a developer in the chat chastised Zhou by saying he should only have committed “small amounts” to the wallet. If it ain’t broke, don’t fix it With a tone of frustration in his post, Maxwell said that “the error could have been avoided with even the most basic testing or review.” The fiasco is a reminder that cryptocurrency development comes with trade-offs and requires diligence. BSV’s founders and proponents have marketed it as payments-focused coin with massive block sizes and blisteringly fast transaction times. To achieve these properties, BSV developers chose to strip Bitcoin’s code of key features. As evidenced by the multisig fiasco, this can come at the expense of security. When money is on the line, you can’t move fast and break things. Often criticized as a slow-grinding, too-conservative process, Bitcoin development often proceeds with the principles of caution and precision in mind. Unsurprisingly, as a Bitcoin Core developer Maxwell favors this methodical approach over the perfunctory one. “This situation would have been avoided entirely had BSV not ripped out the competent, time-tested and highly peer-reviewed mechanisms for multisig by Bitcoin in favor of far less efficient home-brew crypto,” said Maxwell. “Kinda makes you wonder what amazing bugs are lurking in their node software or wallets. I can say for sure: I’m not going to run any of it and risk finding out.” Developers at ElectrumSV have not yet returned answers to questions from CoinDesk. Related Stories Flaw in Bitcoin SV Multisig Wallet Puts Funds at Risk Flaw in Bitcoin SV Multisig Wallet Puts Funds at Risk
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 23477.29, 22803.08, 23783.03, 23241.35, 23735.95, 24664.79, 26437.04, 26272.29, 27084.81, 27362.44
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Solana-Based GMT Tokens Surge 54%, ZIL Sees $13M in Liquidations: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Crypto markets fell 3.5% in the past 24 hours as bitcoin (BTC) briefly lost support at the $45,000 level in early Asian trading hours on Friday. Cardanos ADA and Avalanches AVAX dipped 5% each while Polkadots DOT, Shiba Inus SHIB and Dogecoins DOGE dropped more than 7% in the past 24 hours. Solanas SOL continues to outperform, remaining flat on Friday after leading gains on Thursday; BNB Chain's BNB modestly outperformed as well losing 3%. Crypto-tracked futures saw over $400 million in liquidations in the past 24 hours. Liquidations refer to an exchange forcefully closing a traders leveraged crypto trading position due to a partial or total loss of the traders initial margin. Topping futures losses at over $120 million was bitcoin, followed by ether (ETH) futures at $63 million. However, volatile trading action led to some less popular futures posting losses in excess of other major cryptos on Friday. Lesser-known crypto futures ranked high on liquidation lists on Friday. (Coinglass) Futures on Zilliqas ZIL tokens saw $13 million in liquidations, while losses on Stepns GMT tokens amounted to over $11 million. ZIL was a top gainer over the past week with a 315% surge since March 26, rising to as much as $0.23 on Friday from last weeks $0.04 level. ZIL previously saw similar prices in May 2021. Price charts suggest ZIL could see volatility between the $0.19 and $0.22 levels, although some support seems to exist at the $0.16 mark. ZIL could see ranging price movement between the $0.22 and $0.19 levels. (TradingView) Growth on ZIL came ahead of the launch of Metapolis, a Metaverse-as-a-Service (MaaS) platform powered by the Zilliqa blockchain thats scheduled to launch with a VIP event on Saturday in Miami. It would allow users to build their own virtual universes as metaverses gain in popularity as a sector in the broader market. What is GMT? Meanwhile, the 3-week-old GMT rose 52% in the past 24 hours to highs of $3.11. GMT is the governance token of Stepn, a fitness app that allows users to access in-game features, such as mint virtual sneakers, upgrade gems and participate in governance voting. Story continues Built on Solana, Stepn is self-styled as one of the first lifestyle applications in the Web 3 world, reaching a market capitalization of over $1.5 billion just weeks after launch. Some attributed GMT's rise to its strong underlying fundamentals. "The growth in GMT is notably a function of the value the StepN application offers, which has to a very large extent continued to intrigue investors," explained Alexander Mamasidikov, co-founder of digital bank MinePlex, in an email to CoinDesk. "The demand for the GMT token is on the rise as users of the app need to burn these tokens in order to gain access to mint high-quality merchandise like Virtual NFT Sneakers which are used to walk, jog, or run in a bid to earn GST tokens." "We can expect more leaps in the price of the token in the near future. At the moment, a sustained buy up will see the token touch new all-time highs of $4," Mamasidikov added. Elsewhere, Bored Ape Yacht Club's native ApeCoin (APE) tokens slid 8.3% amid reports of an exploit on its official channel on messaging service Discord. A rogue tool notified community members about a new non-fungible token ( NFT ) mint collection. The link was malicious, however, as clicking on it would have allowed exploiters to gain access to a users private keys and empty their wallets, security researchers found. Other NFT projects saw similar malicious messages, as reported . || Australias SelfWealth to offer Crypto Investment Options This Year: A publicly listed company, SelfWealth, will become the first online share trading platform to offer crypto trading services in Australia. This came after the company partnered with the local cryptocurrency exchange, BTC Market. The move means that the 120,000 customers of SelfWealth will now be able to invest in crypto using the platform. SelfWealth Offers Crypto Investments According to the CEO of BTC Markets, Caroline Bowers, investors will be able to invest in five crypto assets starting from the second quarter of 2022. However, the finalization of the offerings depends on the approval of AUSTRAC, the leading financial regulator in the country. None of the parties involved also disclosed which crypto assets will be available for the investments. But one can expect that top assets like Bitcoin and Ethereum would be included in the offering. For everyone asking about crypto we're getting there! Read about our BTC Markets partnership here. $crypto $btc #markets https://t.co/VWkz9EJpl1 SelfWealth (@_selfwealth) February 15, 2022 SelfWealth also announced the partnership on its Twitter page and claimed its a result of its customers high demand for exposure to the crypto industry. The CEO, Cath Whitaker, stated that the company carried out exhaustive due diligence before picking its crypto partner. According to her, In BTC Markets, we have found a partner that we want to open up to our 120,000 active investing members. She added that the decision to partner with BTC markets is to make cryptocurrency investing as seamless as possible. Interest in Crypto Remains High SelfWealth is the fourth biggest online brokerage platform in Australia. The company has a similar operation to Robinhood and is worth $8 billion. It first showed interest in cryptocurrency last July, when a report showed that 30% of its users have crypto in their portfolio while 38% think of adding crypto later on. On its part, BTC Markets is also one of the biggest crypto exchanges in Australia. According to the exchange, more than 300,000 Australians have traded over $21 billion worth of crypto on its platform. Partnerships between regulated financial organizations and crypto platforms further show the growing mainstream adoption of the space. Story continues Several online brokerage companies have added crypto to their offerings as the demand for variety increases. A good example is Robinhood which started offering Dogecoin trading in 2021. Since then, companies like StockTwits and others have also pivoted into offering crypto-related services to their customers. This article was originally posted on FX Empire More From FXEMPIRE: Hilton Stock Hits Record High After Q4 Revenue Beat; Target Price $178 in Best Case British Pound Continues to Squeeze Sideways Shiba Inu Traders Keep Waiting for Follow-Up Rally China Crosses 2M Yuan in Daily CBDC Transactions During the Olympics PayPal Excludes NFT Transactions Over $10K, Following Various Scams Supply-Demand Mismatch Behind Slowing Mainstream Crypto Adoption View comments || Short Positions See $143M in Liquidations as Bitcoin, Ether Gain 10%: Traders betting against a rise in cryptocurrencies suffered losses of up to $143 million in the past 12 hours as global markets recovered from Thursday's declines.
Bitcoin (BTC), ether (ETH) and other major cryptocurrencies have added close to 10% in 24 hours, almost regaining Wednesday night’s levels. Bitcoin traded near $38,400 at the time of publication, up from Thursday’s low of $34,725.
The rebound, which started in U.S. morning hours on Thursday, caused over $184 million worth of losses due to liquidations on crypto-tracked futures in the past 12 hours. Some 73% of traders were short the market, or betting against a rise,datafrom analytics tool Coinglass showed.
Over $52 million of shorts were liquidated on crypto exchange OKX, the most among other crypto futures exchanges, with $23 million stemming from bitcoin-tracked futures alone. Binance followed next, with $25 million in losses from liquidated shorts, with FTX at $16 million.
Overall in the past 12 hours, $89 million of bitcoin-tracked futures were liquidated, $53 million in ether-tracked futures and $5.86 million in futures tracking Terra’s LUNA token.
The losses contributed to a 24-hour total liquidations figure of $405 million. Some 83,000 individual trading accounts suffered losses, with the largest liquidation order occurring on BitMEX for a bitcoin futures trade valued at over $7.95 million.
Rebounds in cryptocurrencies followed similar moves in global markets. The MSCI Asia-Pacific Index, which tracks companies in Asia, rose almost 1% on Friday after dropping 3.1% on Thursday. Benchmark equity indexes rose across Europe, with the Stoxx Europe 600 index adding more than 1%. In the U.S., the S&P 500 stock index closed 1.5% higher Thursday as the country tightened sanctions against Russia.
Some analysts say demand for bitcoin and other cryptocurrencies could mount in the coming days because they are seen as liquid instruments.
“Right now, the markets have the highest demand for liquid instruments, making bitcoin slightly less of a risk than altcoins,” Alex Kuptsikevich, a senior financial analyst at FxPro, said in an email to CoinDesk. “It is likely that a further deterioration in the financial situation could benefit the first cryptocurrency as a means of capital savings for investors from Ukraine, Russia and some nearby countries." || GameStop Stock Made History, But It’s Not a Buy: GameStop(NYSE:GME), a specialty retailer providing games and entertainment products, has been a protagonist in what could be a blockbuster movie — one named How to Fool Wall Street. It was the star of the meme stocks frenzy. Shares of GME stock have a 52-week range of $77.58 – $344.66, and closed yesterday at $82.64. But its highs and lows reach further than just stock prices.
Source: Shutterstock / mundissima
What is dramatic about the GME stock is not that it has losses of around 40% year to date, but that it has collapsed approximately 74% off its historic 52-week high. And perhaps even more memorable, GameStop has written history — and gained bad publicity — as it has forced the Securities and Exchange Commission (SEC) to make changes to retail investing.
This meme stock frenzy is indeed a phenomenon that has given writers a lot of content to gather, analyze and use to write some very interesting books. But it couldn’t last.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Gamestop was among the top meme stocks. Reddit pushed it to price levels that were not only unsustainable but were an epic bubble that eventually burst. And many investors rising the huge wave for GME stock made alotof money.
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I am not sarcastic — they did. But pushing a meme stock that high is what I have regularly called an example of the “Greater Fool’s Theory.” Fear of missing out (FOMO), fear uncertainty and doubt (FUD), and other emotions were supported by social media madness, boosting the pump-and-dump trading.
The concept of easy money, avoiding doing your due diligence and relying on an unknown social media group to provide quick profits for doing nothing are not only bad practices that should be avoided by sophisticated investors. They are also a part of the history of modern Wall Street. I argue that is part of a very negative era, one that fools novice investors into thinking there is a holy grail in investing when there is not.
Gary Gensler, the SEC chairman has stated that the events related to meme stocks and Gamestop have led to SECworking on four proposals. The first one is reducing the settlement period from two days to one day, a proposal that would significantly reduce risk. The other proposals are about transparency related to short selling; the equity markets’ use of practices like payment for order flow and dark pools; and “gamification” or “digital engagement practices.”
All these proposals by the SEC are steps in the right direction to protect the integrity of the stock market. I only wish SEC had taken these initiatives much quicker.
Gamestop in itsthird-quarter 2021 earnings reportshowed a year-over-year net sales increase of 29%, to $1,296.6 million versus $1,004.7 million, a widening operating loss of -$102.9 million versus -$63 million, and a widening net loss of -$105.4 million versus -$18.8 million.
Diluted loss per share was -$1.39 versus -29 cents and, notably, shareholders have beendiluted in the past year, with total shares outstanding growing by 16.6%.
According toSimply Wall Street,Gamestop is expected to remain unprofitable over the next three years and its revenue growth of 1.2% per year is forecast to grow slower than the U.S. market.
Considering that GameStop’s gross margin has been in long-term decline, down about 3.9% per year, and its revenue per share has fallen for five straight years,things do not look bullish for this retail gaming stock.
Interestingly enough, Gamestop’s last quarter of positive earnings was the quarter ending on Jan. 31, 2021, when itreported a profit of $80.5 million.
Data fromMarketWatchshows that GME stock has aprice to book ratio of 48.6, and a price to cash flow ratio of 170.78, which are considered too high. The price to sales ratio of 4.15 as a result of the stock price decline seems to be more rational, but still isn’t a bargain.
In anticipation of the Q4 2021 earnings report, GME stock does not offer any compelling reason to buy it. The revolution in retail trading proved it had no fuel to support it. On the other hand, concerns about fundamentals, logic, and valuation ultimately won.
On the date of publication, Stavros Georgiadis, CFA did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postGameStop Stock Made History, But It’s Not a Buyappeared first onInvestorPlace. || USD/JPY Trade Through 114.869 Shifts Momentum to Downside: The Dollar/Yen posted a potentially bearish outside move closing price reversal top on Monday, signaling that investors are taking safe-haven protection against a further slide in riskier assets. The move took place despite reports that the financial markets are pricing in a 90% chance of a 25-basis point Fed rate hike later this month and a 37% chance of a 50-basis point rate hike. On Monday, the USD/JPY settled at 114.963, down 0.572 or -0.50%. The Invesco CurrencyShares Japanese Yen Trust ETF (FXY) finished at $81.56, up $0.41 or +0.51%. Increasing odds of a Fed rate hike have made the U.S. Dollar a more attractive investment, taking the Dollar/Yen to a multi-year high recently, but the Russian invasion of Ukraine has wreaked havoc on riskier assets, dampening the bullishness of the USD/JPY. Daily USD/JPY Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart, but Monday’s closing price reversal top indicates momentum may be getting ready to shift to the downside. Furthermore, a potentially bearish secondary lower top may be forming, which could lead to a change in trend. A move through 114.869 will confirm the closing price reversal top. This will shift momentum to the downside. A trade through 114.411 will change the main trend to down. Taking out 115.780 will negate the closing price reversal top and signal a resumption of the uptrend. The first minor range is 114.411 to 115.780. The USD/JPY closed under its pivot at 115.096, making it resistance. The short-term range is 116.339 to 114.411. Its pivot at 115.375 is also resistance. On the downside, the nearest support zone is 114.442 to 113.992. This is followed by the main retracement zone at 113.583 to 112.931. Short-Term Outlook The direction of the USD/JPY early Tuesday is likely to be determined by trader reaction to 115.096. Bearish Scenario A sustained move under 115.096 will indicate the presence of sellers. Taking out 114.869 will confirm the closing price reversal top. This could trigger an acceleration into 114.442, followed by 114.411. Story continues Taking out 114.411 could trigger another acceleration into 113.992. Bullish Scenario A sustained move over 115.096 will signal the presence of buyers. This could trigger a surge into 115.375. Overtaking this level will put the USD/JPY in a position to challenge 115.780. Taking out this level could trigger an acceleration into 116.339 to 116.345. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: RBA’s Lowe Upbeat on Economy, but Not Ready to Raise Rates Terra (LUNA) Targets $100 After Testing Resistance at $92 April Gold Reaction to $1899.80 Sets Near-Term Tone Bitcoin Demand Explodes As Russian Ruble Collapses to Less Than $0.01 Silver Prices Hold Steady As the US and Europe Increase Sanctions Binance Rejects Ukraine’s Appeal To Freeze Russian Accounts || Bitcoin Mining Ban Bill Makes It Out of New York State Assembly Committee: The Environmental Conservation Committee of the New York State Assembly voted on Tuesday afternoon tomove along a proposed lawthat would ban so-called proof-of-work (PoW) cryptocurrency mining for two years.
• The bill was put together under the auspices of the state's Climate Leadership and Community Protection Act, which mandates that New York's greenhouse gas emissions be cut by 85% by 2050, with net emissions being slashed to zero.
• It would effectively ban PoW mining – the energy-intensive process used to secure the Bitcoin (BTC) network – for a period of two years.
• The legislation still requires passage by the entire New York State Assembly and the state's Senate, and then would need to be signed into law by the governor.
• Earlier this month, a similar PoW bannarrowly failed to passin an EU Parliament committee vote.
Read more:After Short-Lived Ban, City in Upstate NY Is Still Reckoning With Crypto Miners || 7 Hot Growth Stocks That Are Poised to Triple This Year: The macroeconomic stars might very well be aligned for a big rebound by the stock market. First of all, asInvestor’s Business Dailyreported on March 13, despite the “market correction” the “indexes (are) off [their] lows.” The latter development is very positive; it indicates that the worst of the correction — and the year-long decline by growth stocks — may very well be behind us.
Likely calming the markets are the realization by many investors that the interest rate hikes and the Russian-Ukrainian war probably will not cause the proverbial sky to fall. Interest rates will remain historically low, and high oil prices only caused a U.S. recession once, in 1973 when the cost of petroleum quickly quadrupled.
Moreover, with the EU having enough natural gas to make it through winter, a lack of Russian natural gas won’t lead to disaster for those countries. And the U.S., the EU and Russia will, in all likelihood, continue to seek to prevent the conflict from widening.
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Also encouragingly, “legendary quant investor Louis Navellier”expects the market to surgein the second half of March,InvestorPlaceContributing Editor Jeff Remsberg recently reported.
With investors becoming less fearful, there’s a good chance that growth stocks will rebound.
Among my favorite sectors now are solar energy names,electric vehicle (EV) charging companies, mining companies and biotech firms. I believe that the market is, in general, greatly underestimating the strength of these groups.
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With that in my mind, these seven hot growth stocks definitely have what it takes to triple during the rest of the year:
• EVgo(NASDAQ:EVGO)
• ChargePoint Holdings(NYSE:CHPT)
• Shoals(NASDAQ:SHLS)
• Freeport McMoran(NYSE:FCX)
• Novavax(NASDAQ:NVAX)
• Enphase Energy(NASDAQ:ENPH)
• Plug Power(NASDAQ:PLUG)
Source: Tada Images
From Feb. 24 to March 10, the shares jumped 30%. The rally came after the EV charging companyannouncedthat it had made deals to provide fast chargers for some customers of two huge Japanese automakers —SubaruandToyota(NYSE:TM).
On Feb. 1, EVgo and Midwestern retailer Meije announced that thefirst of five EVgo chargingstations had been opened at a Meijer store. EVgo indicated that it would add many more charging stations in partnership with the retailer, which has “more than 240 stores.”
EVgo reports that it has the “largest public fast charging network for electric vehicles” in the U.S. and is likely to add many more retail and hotel partners down the road. And making EVgo more attractive for automotive, hotel, and retail partners, the company says that it’s the “only public network powered by 100% renewable electricity.”
Also likely fueling EVgo’s surge was ChargePoint’s stronger-than-expected fourth quarter revenue and full-year sales guidance, which I will describe in some detail in the next section.
Source: JL IMAGES / Shutterstock.com
The EV charging company reported thatits sales had soared 90% year-over-yearin the fourth quarter to $80.7 million, exceeding analysts’ average outlook by $4.6 million. And for its upcoming fiscal year, ChargePoint predicted that its sales would come in at $450 million – $500 million. The company stated that: “At the midpoint, this (guidance) represents an anticipated increase of 96% as compared to the prior year.” The guidance was also way above analysts’ average estimate of $238 million.
Reacting to the results and guidance,Oppenheimer’s(NYSE:OPY) Colin Ruschwrote that, “We believe the company is executing well on port growth and is gaining traction in the EU with the aid of its recent acquisition.” He added that the company “could substantially outpace our revenue estimates through FY26” and kept an “outperform” rating on the name.
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Later this year, the company, along with EVgo, should benefit from the rapid growth of EV sales in the U.S. and Europe. This growth is driven by the release of many new EV models and by the recent jump in gasoline prices. Moreover, CHPT stock and EVGO stock should also get lifts from the Infrastructure Law which includes significant funding for EV chargers.
Source: chuyuss / Shutterstock.com
In the wake of Russia’s invasion of Ukraine, the EU is looking to meaningfully expand its use of solar energy over the next eight years, aYale publication recentlyreported. Meanwhile, as I’ve noted in previous articles, China and many U.S. states are also implementing policies that should accelerate solar sector growth. By the end of the year, I expect the U.S. Congress to extend important tax breaks for the solar sector.
Shoals, which makes solar energy components,recently received the last certificationthat it needed to sell its products in the EU.
As of the end of Q4, the company’s backlog jumped almost 100% year-over-year (YOY). Shoals’ “backlog and awarded orders” has reached nearly $300 million.
For 2022, Shoals expects its sales to soar 40% – 64% and predicted that its earnings, excluding certain items, would jump 40% – 54% to $300 million to $350 million.
To meet strong demand, Shoals plans to open a new U.S. factory next quarter.
Since Feb. 24, its shares have jumped more than 40%.
Source: 360b / Shutterstock.com
The copper producer’s Q4revenue jumped 37% YOY to$1.1 billion, while its earnings per share (EPS), excluding certain items, was 96 cents. Last quarter, Freeport sold an impressive “1.020 billion pounds of copper,” and its expenses declined.
On March 4, the price of copperreached a record$4.938 per pound. As I noted in aprevious article, “Although Russia mines just 4% of the world’s copper, the price of the metal has surged about 10% since the invasion,” while the huge jump in the demand for electric vehicles and clean energy are also having a positive impact on the demand for copper.
Additionally,Seeking Alphareported that just beforethe invasion, “copper inventories at London Metal Exchange registered warehouses totaled less than 70K metric tons, their lowest level since 2005.”
A skilled technical analyst, andInvestorPlacecolumnist Bret Kenwell named FCX stock as one of eight“Uptrend Stocks to Watch.”
He recently reported, “Analysts expect about 14% revenue growth this year to go alongside almost 23% earnings growth. Despite the growth, shares trade at just under 13 times earnings.”
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Amid the energy transition, continued strong inflation, and global instability. I believe that FCX stock can indeed triple this year. That would put the shares at slightly over double its 2010 high of just over $60.
Source: vovidzha / Shutterstock.com
As I pointed out in arecent columnon the shares, earlier this month, TheWall Street Journalstated that the company’s vaccine “for the coronavirus ‘is moving toward U.S. authorization.’ The progress came “after the company proved the effectiveness of its manufacturing process to the Food and Drug Administration (FDA),” I noted.
As a result ofThe Journal’sreport, I expect the jab to be approved by the end of June.
Meanwhile, Novavax is distributing its shot in Europe and Australia and obtained an approval for the shot in Canada.
With vaccination rates still low in many parts of the world,particularly in Africa, the demand for Novavax’s shot around the world will probably be much stronger than the Street expects. With the shares trading at a price-revenue ratio of 1.26, based on the company’s 2022 revenue guidance, its valuation is very attractive.
Source: IgorGolovniov / Shutterstock.com
Like Shoals, with the EU poised to greatly expand its solar capacity, ENPH stock has risen meaningfully since the Russian invasion. The EU’s initiative, along with the likely extension of key tax breaks for solar energy in the U.S., is likely to give ENPH stock a big jolt higher later this year.
Making me more confident that Congresswill act on the tax breaksis a letter sent by 89 House Democrats to President Joe Biden. The letter calls on the President to advance the climate provisions that were included in Congressional Democrats’ budget proposal which have since apparently been dropped.
On Feb. 8, Enphasereported much stronger-than-expected fourthquarter results Its Q4 revenue climbed 56% YOY to $412 million, beating analysts’ average outlook by $13 million. The company’s operating income, excluding certain items, was an impressive $97.7 million.
Analysts, on average,expect the company’s EPSto jump to $3.06 this year and $3.93 in 2023, versus $2.41 in 2021. If Congress passes extensive tax breaks and incentives for solar energy, Enphase will likely be able to easily eclipse those numbers.
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Meanwhile, research firmSolar Mediarecently predictedthat solar module costswould “remain elevated for the next 18 months at least.” The estimate suggests that strengthening demand for solar energy is at last causing solar component prices to remain elevated, boding very well for Enphase and ENPH stock.
Source: petrmalinak / Shutterstock.com
Another company likely to benefit meaningfully this year from the energy transition and the Russian invasion is Plug Power. The company should also get lifts from the high prices of oil and natural gas. And from the implementation of the Infrastructure Law passed last year.
In past columns, I’ve pointed out that the EU is looking to greatly increase the use of hydrogen within its borders. In the wake of Russia’s invasion of Ukraine, that initiative should meaningfully intensify. And with the Russian sanctions in play, South Korea is also likely to intensify its already ambitious hydrogen goals. Plug Power ispartnering withSouth Korean conglomerateSK Groupon multiple hydrogen projects.
Among the other trends that should lift PLUG stock this year are the higher oil and natural gas prices, the Infrastructure Law, and any additional efforts by Congress to incentivize clean energy.
As I pointed out in a previous column, Plugexpects its marginsfrom green hydrogen to increase going forward and reach “about 30% in 2024.” Given the current high prices of fossil fuels and likely further, upcoming support for green hydrogen by multiple governments, that target is probably conservative.
By the middle of the year, PLUG stock should start reflecting Plug’s improved outlook, resulting in big rallies by the shares.
On the date of publication, Larry Ramer held long positions in Novavax, Shoals, Evgo, and PLUG. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The post7 Hot Growth Stocks That Are Poised to Triple This Yearappeared first onInvestorPlace. || BlackRock (BLK) Prepares to Offer Crypto Trading Services: As investors’ demands for exposure to the cryptocurrency market increase rapidly, BlackRock BLK plans to start offering crypto trading services to its investor clients. The news was first reported by Coindesk, citing three people with knowledge of the matter. One of the people said that BLK, the world’s largest asset manager, wants to enter the crypto space with “client support trading and then with their own credit facility.” This means that BlackRock’s clients will be able to borrow from the investment manager by pledging crypto assets as collateral. According to the source, BlackRock, which currently manages more than $10 trillion in assets for institutions, will probably give its clients (including public pension schemes, endowments and sovereign wealth funds) access to the crypto space through its integrated investment management platform, Aladdin. However, it is not yet clear when the service will be unveiled. Per the second person with knowledge of the matter, BlackRock has established a working group of around 20 people to evaluate Bitcoin and other digital assets on how the firm could profit from the space. The person said, “They see all the flow that everyone else is getting and want to start making some money from this.” BlackRock’s plans to enter the crypto space do not come as a shock because the firm has already expressed its interest in the same earlier. In 2021, the company’s CEO, Larry Fink, said that BLK was studying bitcoin to see if it could offer countercyclical benefits. Moreover, per a filing with the U.S. Securities and Exchange Commission, BlackRock has already explored bitcoin investments with derivative-based products on the Chicago Mercantile Exchange. Notably, the asset manager’s interest in the crypto markets became even more evident when it announced plans of launching the iShares Blockchain and Tech ETF last month. The blockchain ETF is an exchange-traded fund that tracks an index composed of companies involved in the “development, innovation, and utilization of blockchain and crypto technologies” in the United States and abroad. Story continues Our Take BlackRock, with its broad product diversification, revenue mix and steadily improving assets under management balance, remains well-positioned for growth. The company’s GAAP revenues have witnessed a compound annual growth rate of 9.2% over the last seven years (2015-2021). Given BLK’s efforts to strengthen the iShares and ETF operations, and increased focus on the active equity business, its top line is anticipated to keep improving in the quarters ahead. Over the past year, shares of BlackRock have rallied 4.2% against the 5.8% decline of the industry. Zacks Investment Research Image Source: Zacks Investment Research Currently, BlackRock carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . Digital Assets and the Competitive Landscape Until July 2020, the Office of the Comptroller of the Currency did not grant permission to banks in the United States to hold cryptocurrencies. The amendment post-July gave banks the go-ahead to begin exploring cryptocurrency operations. A few years ago, banks were not very interested in the crypto and digital asset space. But now, after witnessing an increase in demand for the emerging market, banks and financial institutions are slowly embracing cryptocurrencies. In July 2021, JPMorgan JPM became the first major bank in the United States to allow its financial advisors to give all its wealth-management clients access to cryptocurrency funds. Next month, it came to light that JPMorgan was offering its Private Bank wealth management customers access to an in-house passively managed bitcoin fund. The offering was being made in partnership with bitcoin powerhouse New York Digital Investment Group. JPMorgan has launched a division focused on digital assets named Onyx. The Wall Street giant has even launched its own digital currency, JPM Coin. Among others, Goldman Sachs GS launched trading with non-deliverable forwards, i.e., derivatives tied to Bitcoin’s price, which are cash-settled. Goldman Sachs has been shielding itself from cryptocurrency fluctuations by trading Bitcoin futures in block trades on CME Group Inc., with Cumberland DRW as its trading partner. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report BlackRock, Inc. (BLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || $4.4 Million of Binance Coin & WETH Exploited on Ethereum Sidechain: In the latest reports from the Meter team, the Ethereum sidechain witnessed an unexpected occurrence on a Saturday morning which led to a severe exploit on the Meter bridge. Although the transactions were stopped immediately upon discovery, it was already too late. The Exploit As per the details revealed by the Meter team, someone managed to leverage an existing vulnerability of the bridge using which the exploiter was able to mint $4.4 million worth of Binance Coin (BNB) and Wrapped Ethereum (WETH) tokens. This resulted in the bridge reserves depleting. Community, we really appreciate everyone's patience and support as we work to get back up and running after this morning's exploit. We have detailed everything in the below thread: — ⚡️Meter.io⚡️ (@Meter_IO) February 5, 2022 As soon as the team was alerted of the same transactions across the bridges were halted and within the next 30 minutes, the issue was identified. According to the Meter team: “The issue (was identified) to be a bug introduced in the automatic wrap and wrap of native tokens like BNB and ETH extended by the Meter team. The extended code had a wrong trust assumption which allowed hacker to call the underlying ERC20 deposit function to fake an BNB or ETH transfer.” The only networks that were actually affected by this exploit were Meter and Moonriver’s. The other remaining tokens and their reserves were declared SAFU by the team. Furthermore, the Meter team stated that they were working on a compensation plan for the users affected by the exploit and urged all other liquidity providers for WETH and BNB to pull out their liquidity from the pools. The Moonriver network is actually the Kusama deployment of the Moonbeam project which won the third slot during the Parachain auctions raising well over $40 million. Binance Coin and Ethereum Surprisingly neither of the tokens were affected by the exploit as they were both following the broader market’s bullish cues. Within a span of 4 days, both Binance Coin and Ethereum managed to paint a rally of 18.11% and 17.83% respectively. Story continues However, at the time of this report with Bitcoin struggling to close above $44k, both BNB and ETH too were trading in the red. Going forward, investors are hopeful for either slowed recovery or consolidation but not a price fall. This article was originally posted on FX Empire More From FXEMPIRE: Best Stocks to Buy Now for February 2022 Shares Of Private Equity Firm KKR Slump as Net Income Declines in Q4 E-mini S&P 500 Trading on Weak Side of Key Retracement Zone Crypto Investments in Singapore Surged by 13x in 2021 $4.4 Million of Binance Coin & WETH Exploited on Ethereum Sidechain The S&P 500 Chops Aimlessly || NZD/USD: Trade Through .6653 Shifts Momentum to Down: The New Zealand Dollar edged lower on Thursday in a volatile session that saw the currency pop to its highest level since January 21 before drifting lower into the close. The Kiwi retreated from its intraday high after hotter-than-expected U.S. inflation data and hawkish comments from a Federal Reserve official unleashed a wave of bets on aggressive rate hikes, though similar pressures in New Zealand put a lid on the U.S. Dollar early in the session. On Thursday, the NZD/USD settled at .6676, down 0.0006 or -0.09%. Thursday data showed U.S. consumer prices up 7.5% year-on-year in January , a fourth straight month above 6% and slightly higher than economists’ forecast for a 7.3% rise. After that, St. Louis Fed President James Bullard told Bloomberg he’d like to see 100 basis points of hikes by July. The Reserve Bank of New Zealand (RBNZ) has already raised rates twice to 0.75% and is almost certain to hike again later this month, and perhaps by 50 basis points. Daily NZD/USD Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart, however, the closing price reversal top suggests momentum may be getting ready to shift to the downside. A trade through .6733 will negate the chart pattern and signal a resumption of the uptrend. A move through .6653 will confirm the closing price reversal top. This will shift momentum to the downside. The short-term range is .6891 to .6529. Its retracement zone at .6710 to .6753 is resistance. This zone stopped the buying at .6733 on Thursday. The first minor range is .6811 to .6529. The NZD/USD straddled this level on Thursday. The second minor range is .6529 to .6733. Its retracement zone at .6631 to .6607 is the next downside target and potential support. Short-Term Outlook The direction of the NZD/USD early Friday is likely to be determined by trader reaction to .6670. Bearish Scenario A sustained move under .6670 will indicate the presence of sellers. Taking out .6653 will confirm the closing price reversal top. This could create the downside momentum needed to challenge .6631 – 6607. This is the last support before the .6590 main bottom. Story continues Bullish Scenario A sustained move over .6670 will signal the presence of buyers. The first upside target is .6710, followed by .6733 and .6753. The latter is a potential trigger point for an acceleration to the upside. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Moves Towards The Support At 1.1370 Ethereum Worth $1.3B Moved as Price Gains 25% in the Last Week New York Needs Clarity on Crypto Regulations, says Bill Ackman U.S Inflation Hits Bitcoin (BTC) and the Broader Crypto Market Natural Gas Edges Lower on Warm Weather Forecast USD/CAD Retreats Despite Treasury Yield Rally
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 46453.57, 46622.68, 45555.99, 43206.74, 43503.85, 42287.66, 42782.14, 42207.67, 39521.90, 40127.18
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-02-12]
BTC Price: 47504.85, BTC RSI: 72.48
Gold Price: 1821.60, Gold RSI: 44.11
Oil Price: 59.47, Oil RSI: 79.83
[Random Sample of News (last 60 days)]
Bitcoin’s Volatility Resumes After $40,000 Topped for First Time: (Bloomberg) -- Bitcoin’s wild price swings resumed after the the world’s largest cryptocurrency climbed above $40,000 for the first time.
After jumping as much as 11% to $40,394, Bitcoin fell around $3,500 in about half an hour and continues to fluctuate. Prices vacillated as much as 17% on Monday. The digital token has more than doubled in less than a month.
Strategists have cited demand from speculative retail traders, trend-following quant funds, the rich and even institutional investors as among the reasons for the surge. The total market value of cryptocurrencies climbed beyond $1 trillion for the first time Thursday.
“Bitcoin continues to defy all expectations, and doubters,” said Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender. “It’s leaving all other assets trailing in its wake, like it’s done year in, year out for the past decade.”
Bitcoin accounts for about two-thirds of cryptocurrency market value, followed by Ether at about 13%, according to CoinGecko data.
Coinbase Inc., the largest U.S. digital exchange, said it’s experiencing “connectivity issues” on both the website and mobile app for a second day.
Digital coins are jumping in a world awash with fiscal and monetary stimulus, even as some commentators fear an inevitable bust and others question the basic integrity of crypto markets. Proponents of Bitcoin argue it offers a hedge against dollar weakness and the risk of faster inflation, a bit like gold, while critics decry the intellectual soundness of comparing the two assets.
“The more that people perceive that their assets, particularly their liquid assets such as fiat currencies are eroding in value, the more they will look for alternatives,” said Geoffrey Morphy, president of Canadian crypto mining company Bitfarms Ltd.
Active Bitcoin accounts are nearing their all-time high levels of late 2017, according to researcher Flipside Crypto -- possibly a sign that some holders are planning to sell. Fewer than 2% of accounts hold 95% of Bitcoin supply, so a few big trades can impact prices. The last big Bitcoin boom began imploding in late 2017.
Some traders pointed to JPMorgan Chase & Co.’s long-term Bitcoin price forecast of $146,000 as possibly fueling the rally. Others said sentiment was boosted by a U.S. regulatory update that allows a class of less volatile coins to be used by banks for payments.
“This parabolic move upwards, with normally staid Wall Street firms including JP Morgan calling $146,000 as their price target for Bitcoin, and Guggenheim called $400,000, feels like it has a long way to go before exhausting,” said Guy Hirsch, managing director for U.S. at eToro. “It wouldn’t be all that surprising to see $100,000 at some point this year, given the current momentum.”
(Updates with market moves.)
For more articles like this, please visit us atbloomberg.com
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©2021 Bloomberg L.P. || BTCS Reports 1,327% Year-Over-Year Gain in Digital Assets: Digital Assets now valued at approximately $7 million, driven by additional investment and continued rally Silver Spring, MD, Jan. 11, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire ) BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a digital asset and blockchain technology focused company, provides an update on its business and digital asset portfolio. Establishing positions in key digital assets is a core part of the Company’s business plan. Through timely purchases of Bitcoin and Ethereum, BTCS has substantially grown its digital asset portfolio over the past 18-months. The table below summarizes the Company’s Digital Asset growth over the last six quarters: Digital Assets Held at Period End Asset 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3 2020Q4 BTC 14.9 20.6 20.6 54.3 63.6 66.9 QoQ Change 38% 0% 163% 17% 5% ETH 584.7 985.0 985.0 2,304.6 2,554.7 2,674.2 QoQ Change 68% 0% 134% 11% 5% The Fair Market Value of the Company’s digital asset position increased 1,327% to $3.9 million in 12-months ended December 31, 2020. The table below, based on year-end prices of $29,325 per BTC and $739 per ETH, summarizes the Fair Market Value of the Company’s Digital Assets over the past six quarters: Fair Market Value of Digital Assets Asset 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3 2020Q4 BTC $123,733 $148,406 $132,831 $496,027 $685,331 $1,962,538 QoQ Change 20% -10% 273% 38% 186% YoY Change 1,222% ETH $105,175 $127,662 $131,582 $521,552 $909,478 $1,976,260 QoQ Change 21% 3% 296% 74% 117% YoY Change 1,448% Total $228,908 $276,068 $264,413 $1,017,579 $1,594,809 $3,938,798 QoQ Change 21% -4% 285% 57% 147% YoY Change 1,327% The Company believes Bitcoin, Ethereum, and certain other digital assets are a great store of value and can be an effective hedge against monetary debasement in the wake of multi-trillion-dollar economic bailouts. Bitcoin has rallied over 700% from its March 2020 low, which the Company believes is driven by institutional interest in digital assets, PayPal allowing its customers to buy and sell bitcoin through their platform, and a flight to safety during the ongoing COVID-19 pandemic and political turmoil. On January 8, 2021, the Company’s digital asset portfolio had a Fair Market Value of approximately $7 million, which includes $800,000 worth of digital assets purchased with the proceeds of management’s recent $1.1 million investment. Story continues “Our original thesis that has guided our operating decisions across the years has proven very prescient over the past 12 months,” stated Charles Allen, CEO of BTCS. “While we are pleased with the strong gains of 2020, management believes the best is ahead for BTCS and recently backed this belief by investing $1.1 million into the Company, representing a substantial financial commitment. We want to thank our shareholders for their continued support and look forward to sharing more of our successes with you in 2021 and beyond.” While the Company continues to believe Bitcoin and Ethereum are a great store of value, going forward, it plans to utilize its industry experience to further expand the Company’s Digital Asset holdings to diversify risk as it continues to grow its business. BTCS also plans to avoid digital assets which it believes may be classified as digital securities. Digital Assets, which are not securities such as Bitcoin and Ethereum, are non-productive indefinite life intangible assets according to U.S. GAAP. Therefore, the Company anticipates that the carrying value of our Digital Assets on our balance sheet for the year ended 2020 will be approximately $1 million. Digital assets are carried on our balance sheet at the lowest price they have been since the date of purchase. About BTCS: BTCS is one of the first U.S. publicly traded companies focused on digital assets and blockchain technologies. BTCS plans to acquire additional Digital Assets to provide investors with indirect ownership of Digital Assets that are not securities, such as bitcoin and ether. We intend to acquire Digital Assets through open market purchases. We are not limiting our assets to a single type of Digital Asset and may purchase a variety of Digital Assets that appear to benefit our shareholders, subject to the limitations of the Investment Company Act of 1940. We are also internally developing a digital asset data analytics platform and seeking to acquire controlling interests in businesses in the blockchain industry. For more information visit: www.btcs.com Forward-Looking Statements: Certain statements in this press release, constitute “forward-looking statements” within the meaning of the federal securities laws including statements regarding our belief regarding our belief that our digital assets are a great store of value and can be an effective hedge against monetary debasement, our growth plans and our belief regarding future financial results for the Company. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation, falling Bitcoin and/or Ethereum prices, our management failing to execute their plan, and other risks set forth in the Company’s filings with the Securities and Exchange Commission. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Top Research Reports for Roche, BlackRock & Square: Monday, January 11, 2021 The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Roche ( RHHBY ), BlackRock ( BLK ) and Square ( SQ ). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can see all of today’s research reports here >>> Roche shares have modestly underperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+3.6% vs. +4%). The Zacks analyst believes that label expansion of Tecentriq into additional indications should drive sales. Roche’s recent efforts to diversify its portfolio should reap benefits. Strategic acquisitions should strengthen the pipeline. Roche’s performance in 2020 was pretty ho-hum due to the COVID-19 adversity and competition from biosimilars. While sales in the first quarter were strong, the metric declined in the second quarter and again stabilized somewhat in the third. Although growth in Ocrevus, Perjeta, Tecentriq and Hemlibra maintained momentum, COVID-19 disruptions and biosimilar competition for Herceptin, MabThera and Avastin weighed on the solid performances. Nevertheless, the Diagnostics division was boosted by the launch of diagnostic products for COVID-19 and should maintain this uptrend. (You can read the full research report on Roche here >>> ) Shares of BlackRock have gained +36.9% in the last six months against the Zacks Investment Management industry’s gain of +27.7% on the back of expanding footprint and market share. Its initiatives to restructure the equity business along with its inorganic growth efforts will likely keep supporting top-line growth. Further, solid assets under management (AUM) balance are expected to continue to aid revenue growth despite the ongoing concerns related to the coronavirus outbreak. Given a solid liquidity position, BlackRock’s capital deployments look sustainable. However, persistently increasing expenses (owing to higher administration costs) are expected to hurt the bottom line. Also, the company’s high dependence on overseas revenues makes us apprehensive. Story continues (You can read the full research report on BlackRock here >>> ) Square shares have gained +30.4% over the past three months against the Zacks Internet Software industry’s rise of +13.9%. The Zacks analyst believes that Square is gaining on strong Cash App engagement and its expanding customer base. Further, rising bitcoin revenues owing to robust Cash App are contributing well to the top-line. Also, strong adoption of Cash Card is a major positive. Additionally, the company’s strengthening momentum in online channels and growing card-not-present GPV are expected to remain tailwinds. Moreover, robust online products, such as Square Online Store, Invoices, Virtual Terminal and eCommerce API are expected to accelerate the GPV growth in the near term. Further, solid acquisition of net-new transacting active Cash App customers is likely to continue driving the top line growth. However, higher investments and increasing product development expenses, and COVID-19 induced uncertainties remain concerns. (You can read the full research report on Square here >>> ) Other noteworthy reports we are featuring today include Infosys ( INFY ), Sinopec ( SNP ) and Moody's ( MCO ). Just Released: Zacks’ 7 Best Stocks for Today Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.4% per year. These 7 were selected because of their superior potential for immediate breakout. See these time-sensitive tickers now >> Sheraz Mian Director of Research Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read New Drugs Propel Roche (RHHBY) Amid Biosimilar Competition Buyouts, Assets Balance Aid BlackRock (BLK), High Costs Ails Square (SQ) Banks on Solid Cash App Adoption, Bitcoin Growth Featured Reports Digital Transformation, AI Proliferation Aid Infosys (INFY) Per the Zacks analyst, Infosys is benefiting from large deal wins and higher investments by clients in digital transformation, artificial intelligence, and automation. Sinopec (SNP) Banks on Oil & Gas Discoveries in Tarim Basin The Zacks analyst agrees that oil and gas discoveries in Tarim and Sichuan basins brighten Sinopec's production outlook. Revenue Mix, Acquisitions Aid Moody's (MCO) Amid High Costs Per the Zacks analyst, Moody's diverse revenue mix, low-risk product portfolio, and acquisition initiatives will aid growth. Expanding Partner Base & Device Portfolio Aids Philips (PHG) Per the Zacks analyst, Philips is benefiting from strong demand for patient monitors, hospital ventilators, computed tomography, and portable ultrasound systems is the key catalyst. E-Commerce Efforts Aids Carvana (CVNA) Amid Surging Expenses While Carvana's end-to-end online platform is transforming the shopping experience and driving the firm, surging capital and operating expenses is denting near-term profits, per the Zacks analyst. Medical-Surgical Unit Aids McKesson (MCK), Competition Rife McKesson has been riding on growth in the Medical-Surgical Solutions segment. However, the Zacks analyst is pessimistic about cutthroat competition in the MedTech space. Solid Asia Operation Aid Manulife (MFC), High Expenses Ail Per the Zacks analyst, Manulife is set to grow on strong Asian business as well as the expansion of Wealth and Asset Management business. However, an increase in expenses weighing on margin concerns. New Upgrades HDPE Project, A. Schulman Buyout Aid LyondellBasell (LYB) According to the Zacks analyst, LyondellBasell will benefit from synergies of the A. Schulman buyout and higher capacity driven by the high-density polyethylene (HDPE) project. Buyouts, Omni-Channel Efforts to Aid Simon Property (SPG) Per the Zacks analyst, premium retail assets addition, efforts to support omnichannel retailing, and solid balance-sheet strength will aid Simon Property sail through retail real estate market blues. Hain Celestial's (HAIN) Transformation Efforts Bode Well Per the Zacks analyst, Hain Celestial is gaining from its transformation strategy. The strategy aims at simplifying portfolio, identifying additional areas of productivity, and improving cash flow. New Downgrades Dull International Retail Sales Ails Walgreens Boots (WBA) The Zacks analyst is worried about the continued dull performance by Walgreens Boots' Retail Pharmacy International arm. TELUS (TU) Remains Plagued by Margin Woes on Lower Demand Per the Zacks analyst, demand for TELUS' legacy voice and data services has reduced drastically with customers switching to low-priced alternatives amid coronavirus-induced adversities. Investment Portfolio Risk, High Cost Hurt ProAssurance (PRA) Per the Zacks analyst, the declining investment portfolio affecting the topline continues to be a risk. Increasing expenses due to policy buyouts, underwriting, and operating expenses remain a concern. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Square, Inc. (SQ) : Free Stock Analysis Report China Petroleum & Chemical Corporation (SNP) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Moodys Corporation (MCO) : Free Stock Analysis Report Infosys Limited (INFY) : Free Stock Analysis Report BlackRock, Inc. (BLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Bitcoin price crossed $35,000, hitting new all-time high: Gold and glass bitcoin sign on top of circuit board Bitcoin ( BTC-USD ) surged to a new all-time record above $35,000 (£25,668) on Wednesday morning, just days after crossing the $34,000 mark for the first time. Bitcoin rose to a high of $35,520.67 in the early hours of Wednesday, extending a record-breaking bull run that began in October. The price remained volatile and bitcoin was down 2.6% to $34,241.25 by mid-morning in London. Bitcoin surged to an all-time high but remains volatile. Chart: Yahoo Finance UK Simon Peters, an analyst at investment platform eToro, told Yahoo Finance there was huge demand bitcoin, particularly from institutions. Central banks continue to use economic stimulus to keep their economies afloat in the wake of the coronavirus pandemic, Peters said. Many investors in the cryptoasset community see bitcoin as a hedge against inflation. With the US readying its next round of stimulus cheques, the trend of investors buying bitcoin as a way to hedge against inflation is accelerating. Analysts at various investment banks have recently pivoted to a more positive view of bitcoin, Peters said. Payment providers such as PayPal ( PYPL ) and Square ( SQ ) have also recently started allowing their users to buy, sell, and pay with bitcoin, adding to its popularity. WATCH: Bitcoin could soar to $146,000 READ MORE : Bitcoin price volatile but still above $30,000 after weekend rally Bitcoin has rallied over 200% since early October. Experts feel a correction could be due. A dump of bitcoin from larger investors, then we could see the price fall back to the $20,000-23,000 range, Peters said. Nigel Green, chief executive of independent financial advisory organisation deVere Group, earlier this week said: There will be a steady pullback in the all-time record-high Bitcoin prices as many traders, like me, begin profit-taking. A dip in prices will then represent an important buying opportunity for investors, as digital currencies in some or another are now almost universally widely regarded as the future of money. A global poll carried out by deVere Group found that nearly three-quarters of high-net-worth individuals planned to invest in cryptocurrencies before the end of 2022. WATCH: What is a V-shaped economic recovery? View comments || Data, lockdowns weigh on stocks and oil; dollar rises: By Rodrigo Campos NEW YORK (Reuters) - Stock and oil prices fell on Friday, pressured by intensifying lockdowns and weak U.S. retail sales data, while the dollar index posted its largest weekly gain in more than two months. U.S. bond yields and stocks have risen recently, partly on expectations about the rollout of coronavirus vaccines and on a massive stimulus plan by the incoming Democratic administration. President-elect Joe Biden on Thursday unveiled a $1.9 trillion economic aid plan. But vaccination campaigns have progressed more slowly than expected and the prospect of stricter lockdowns in France and Germany, as well as a resurgence of COVID-19 cases in China, weighed on market sentiment. "I feel that after all the optimism regarding vaccines, we are now living the reality of a very slow rollout, which is weighing heavily on business activity," said Juan Perez, senior currency trader at Tempus Inc in Washington. "Until we have more guarantees on the medical front, markets will not continue to flourish despite whatever financial aid may be on the way," Perez said. The dollar gained ground against the euro and sterling, while the yen was little changed. Stocks fell but remained close to recent record highs, with investors also digesting the prospect of rising taxes to pay for Biden's plan. "Spending is easy to do but the question is how are you going to pay for it? Markets often ignore politics but they don't often ignore taxes," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. The Dow Jones Industrial Average fell 177.26 points, or 0.57%, to 30,814.26, the S&P 500 lost 27.29 points, or 0.72%, to 3,768.25 and the Nasdaq Composite dropped 114.14 points, or 0.87%, to 12,998.50. The pan-European STOXX 600 index lost 1.01% and MSCI's gauge of stocks across the globe shed 0.86%. Emerging market stocks lost 0.93%. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.67% lower, while Nikkei futures lost 2.01%. Story continues Yields were also pressured lower by a weaker-than-expected reading in U.S. retail sales. "This morning’s disappointing retail sales figures reinforced the idea that more stimulus will be needed," said Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets in New York. U.S. 10-year notes last rose 13/32 in price to yield 1.0852%, from 1.129% late on Thursday. Despite the weekly dip in the benchmark yield, it was set to close a second week above 1%, a streak not seen since before the lockdowns took hold early last year. Oil prices fell sharply on concerns that demand would be lower as COVID-19 continues to rage globally. "The recent resurgence in coronavirus infections, appearance of new variants, delayed vaccine rollouts and renewed lockdown measures in most major OECD economies has clouded the economic and demand recovery," said Stephen Brennock of oil broker PVM. U.S. crude recently fell 2.73% to $52.11 per barrel and Brent was at $54.87, down 2.75% on the day. The dollar index rose 0.573%, with the euro down 0.68% to $1.2073, while sterling was last trading at $1.3585, down 0.75% on the day. The Japanese yen weakened 0.07% versus the greenback at 103.88 per dollar. Spot gold dropped 1.1% to $1,826.59 an ounce. Silver fell 3.11% to $24.74. Bitcoin last fell 7.59% to $36,164.50. (Reporting by Rodrigo Campos; Additional reporting by Lucia Mutikani in Washington and Sinead Carew, Karen Brettell, Jessica Resnick-Ault and Saqib Iqbal Ahmed in New York; Editing by Nick Zieminski, Cynthia Osterman and Sonya Hepinstall) || Coinbase Files For IPO With Bitcoin At All-Time Highs: Cryptocurrency exchange Coinbase confirmed Thursday it filed for an IPO.
What Happened:Coinbaseannouncedin a blog post it has confidentially submitted its registration for an IPO by filing its S-1.
Coinbase last raised funds in 2018 at an $8 billionvaluation. The company was valued at $1.6 billion in2017.
Investors in the company include Tiger Global, Andreessen Horowitz, New York Stock Exchange, BBVA and formerCitigroup(NYSE:C) CEO Vikram Pandit.
Why It’s Important:The IPO of Coinbase comes as Bitcoin prices hit all-time highs and crossed $20,000 on Wednesday.
This would mark the first major U.S. cryptocurrency exchange to go public and could be a landmark victory of bringing cryptocurrency more mainstream.
The company’s platformsaw connection problemsdue to congestion on Wednesday, which could show the strong demand from Coinbase users.
In July,Reuters saidCoinbase was considering a direct listing over a traditional IPO. Coinbase had also been linked to several large SPACs recently.
Shares of Bitcoin trade at $23,286 at the time of writing.
See Also:Will Bitcoin 'Rise 50% And Possibly Double' In 2021? These Pros Think So
Benzinga’s Take:The company to watch could beBanco Bilbao Vizcaya Argentaria(NYSE:BBVA), whose BBVA arm began investing in Coinbase back in2015.
“We need to better understand the industry and understand how merchants and consumers are interacting with bitcoin,” BBVA Ventures Executive Director Jay Reinemann toldCoinDeskat the time.
The 2015 roundvaluedCoinbase at $400 million. With the listing expected to price above the $8 billion valuation from its last round and see strong demand with the rise of Bitcoin, this funding could pay off nicely for BBVA.
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Litecoin, Polkadot & Yearn.Finance - American Wrap: 2/1/2021: Litecoin Price Prediction: LTC Is On The Brink Of A Massive Breakout To $180 As Whales Go Into Buying Spree Litecoin has been trading downwards since its peak of $185 on January 10 but has established a robust support level at $122. The digital asset seems to be on the verge of a breakout as several metrics have turned positive for LTC. Polkadot Price Might Need To See A Strong 20% Pullback Before Resuming Uptrend Polkadot had one of the best performances in 2021 reaching rank fourth above XRP with a market capitalization of $16 billion. Although DOT already had a significant pullback from its all-time high price of $19.4, the digital asset could be bounded to fall lower. Yearn.Finance Price Analysis: Only This Crucial Level Separates YFI From Reaching $40,000 YFI is currently trading at $30,000 and has been moving sideways for the past week. It seems that one crucial resistance level is separating Yearn.Finance from a massive breakout towards a high of $40,000. See more from Benzinga Click here for options trades from Benzinga Bitcoin, Stellar & Tezos - American Wrap: 1/28/2021 Ripple, Chainlink & Vechain - American Wrap: 1/26/2021 © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Crypto Daily – Movers and Shakers – January 25th, 2021: Bitcoin , BTC to USD, rose by 0.69% on Sunday. Partially reversing a 2.81% fall from Saturday, Bitcoin ended the week down by 9.97% to $32,320.0. It was a mixed start to the day. Bitcoin fell to an early morning low $31,709.0 before making a move. Steering clear of the first major support level at $31,174, Bitcoin rose to a mid-morning intraday high $33,174.0. Bitcoin broke back through the 23.6% FIB of $33,008 before hitting reverse. Falling short of the first major resistance level at $33,289, Bitcoin slid to a late intraday low $31,011.0. Bitcoin fell through the first major support level at $31,174 before recovering to close out the day in the green. The near-term bullish trend remained intact, in spite of the latest sell-off. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Sunday. Polkadot (-4.65%) saw red to buck the trend on the day. It was a bullish day for the rest of the majors. Ethereum rallied by 12.92% to lead the way. Binance Coin (+2.28%), Bitcoin Cash SV (+1.59%), Cardano’s ADA (+2.21%), Crypto.com Coin (+1.40%), and Litecoin (+2.43%) also found strong support. Chainlink (+0.01%) and Ripple’s XRP (+0.62%) trailed the front runners on the day. For the week, it was also a mixed week for the majors. Polkadot rallied by 16.97% to lead the way. Chainlink (+6.47%) and Ethereum (+13.09%) also found support to buck the trend in the week. It was a bearish week for the rest of the majors. Bitcoin Cash SV slid by 22.52% to lead the way down. Binance Coin (-8.64%), Cardano’s ADA (-7.06%), Crypto.com Coin (-7.98%), Litecoin (-1.14%), and Ripple’s XRP (-11.96%) also joined Bitcoin in the red. In the week, the crypto total market cap rose to a Tuesday high $1,080.72bn before sliding to an early Saturday low $812.79bn. At the time of writing, the total market cap stood at $971.22bn. Bitcoin’s dominance rose to a Monday high 67.47% before falling to a Sunday low 62.84%. At the time of writing, Bitcoin’s dominance stood at 62.75%. Story continues This Morning At the time of writing, Bitcoin was up by 1.29% to $32,736.5. A mixed start to the day saw Bitcoin fall to an early morning low $32,253.0 before striking a high $32,835.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Polkadot bucked the trend early on, falling by 0.68%. It was a bullish start for the rest of the majors, however. At the time of writing, Ethereum was up by 4.02% to lead the way. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the pivot level at $32,168 to bring the 23.6% FIB of $33,008 and the first major resistance level at $33,326 into play. Support from the broader market would be needed for Bitcoin to break back through to $33,000 levels. Barring an extended crypto rally, the first major resistance level and resistance at $33,500 would likely cap any upside. In the event of an extended crypto rally, Bitcoin could test resistance at $35,000 before any pullback. The second major resistance level sits at $34,331. Failure to avoid a fall through the $32,168 pivot would bring the first major support level at $31,163 into play. Barring an extended crypto sell-off, Bitcoin should steer clear of the second major support level at $30,005. This article was originally posted on FX Empire More From FXEMPIRE: COVID-19 Vaccine Update – The EU’s Vaccine Woes Worsen and Is Unlikely to Improve Anytime Soon European Equities: Business Sentiment, COVID-19 Updates, and U.S Stimulus Chatter in Focus Natural Gas Price Fundamental Daily Forecast – Struggles to Find Footing Amid Warmer Weather Forecasts The Crypto Daily – Movers and Shakers – January 25th, 2021 Oil Price Fundamental Daily Forecast – Unexpected EIA Build, COVID-Related Demand Worries Pressure Prices Business Sentiment and ECB President Lagarde Put the EUR in Focus || GLOBAL MARKETS-European stocks fall; focus on Fed and U.S. tech earnings: * Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn * Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Reuters Live Markets blog: LONDON, Jan 27 (Reuters) - Europe's share indexes opened lower on Wednesday, while investors focused on the U.S Federal Reserve meeting and U.S. tech giants' earnings. MSCI world equity index, which tracks shares in 49 countries, was down 0.1% at 0842 GMT, having edged down in the last week after it hit a new all-time high on Jan. 21 . In the Asian session on Wednesday, shares were hurt by some profit-taking, as investors grew wary of stretched valuations. European share indexes opened in the red. The STOXX 600 was down around 0.3% on the day at 0854 GMT. London's FTSE 100 was down 0.2% while Germany's DAX was down 0.5%. The dollar rose against a basket of currencies as European markets opened, and was at 90.275 at 0846 GMT, up 0.1% on the day. The Fed is not expected to make any policy changes but investors will be listening for changes in tone around the economic outlook and any mention of slowing down - or "tapering" - the Fed's asset purchases. "The big question will be over any timetable for tapering asset purchases, but Powell is likely to adopt a dovish tone on this, and reiterate that it’s premature to contemplate this given the challenging near-term outlook and remaining uncertainties," Deutsche Bank strategist Jim Reid wrote in a note to clients. The U.S. 10-year Treasury yield held close to the three-week low it hit in the previous session, and was broadly flat on the day at 1.0398% at 0846 GMT. Quarterly earnings from U.S. tech giants including Facebook and Apple, due later in the session, were also in focus. "With some financial assets currently trading at what many are describing as bubble territory, there’ll be heightened attention on these releases to see whether these current valuations are justified," Deutsche Bank's Jim Reid said. Story continues Although S&P 500 e-minis were down around 0.1%, Nasdaq futures were up 0.4% at 0847 GMT, helped by strong Microsoft earnings the previous session. Microsoft said its Azure cloud computing services grew by 50%. Heightened participation of retail investors in the stock market has come into focus this week, as amateur traders on Reddit's r/WallStreetBets stock trading discussion group piled into GameStop, causing it to skyrocket while professional shortsellers scrambled to cover losing bets. To some stock market professionals, the recent moves look symbolic of a stock market that may be overvalued at the end of a year dominated by floods of fiscal and monetary stimulus to ease the coronavirus crisis. The International Monetary Fund raised its forecast for global economic growth in 2021, and said the coronavirus-triggered downturn last year would be nearly one percentage point less severe than expected. Global COVID-19 cases surpassed 100 million on Wednesday and countries around the world are struggling with new variants of the virus and delays in vaccine rollouts. The United States aims to have enough vaccine doses to vaccinate most Americans by the Summer, President Joe Biden said on Tuesday. In Europe, supplies of the COVID-19 vaccine have been delayed. Hospitalisations in France hit an eight-week high. The euro was down 0.1% at $1.21455 at 0848 GMT, while euro zone government bond yields edged up slightly. Gold was down around 0.2%. Bitcoin was down around 3.3%. Oil prices rose after industry data showed U.S. crude stockpiles fell unexpectedly last week and China recorded its lowest daily rise in COVID-19 cases in more than two weeks. (Reporting by Elizabeth Howcroft; Editing by Nick Macfie) || ISW Holdings Shareholder Roundtable Q&A Transcript: LAS VEGAS, Jan. 20, 2021 (GLOBE NEWSWIRE) -- viaNewMediaWire-- ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company, is pleased to provide a text version of its Shareholder Roundtable conference call following technical problems.
The following are actual questions asked by current or prospective ISW Holdings investors, with answers provided by the Company’s President and Chairman, Alonzo Pierce.
Question: "Can you make a case for your company being an investment vs. a day trade and plans for a run to NASDAQ?"
Pierce: Our goal is to become a NASDAQ traded company. Our first stop will be an uplist to the OTCQB. We have made incredible strides over the past 18 months, demonstrating strong commercial growth in our Telehealth and Home Healthcare segment while investing in a diversified growth model and preparing to commercially launch our Cryptocurrency segment following assembly and activation of our first state-of-the-art mining Pod. We would like to see our market value continue to build significantly before moving to the NASDAQ. With the Telehealth and Crypto sectors booming, we believe ISWH offers strong value.
Question: "What does the crypto mining industry look like 5 and 10 years down the road?"
Pierce: Considering the issues that surround politics, U.S. and world debt, the reliance on the U.S. dollar as base for trade (Oil, for example), the dwindling popularity of a gold-based standard, the increasing legitimacy of Bitcoin among institutional investment managers and major corporations, and for many other reasons, the future looks strong and long for the crypto mining industry. Various sectors, like alternative energy and renewable energy, could be game changers for companies that mine in those arenas.
Question: “When will the first bitcoin mining Pod become operational? How many additional Pods will be produced and become operational this year?”
Pierce: The final steps are being taken to have our first pod operational by the beginning of February. We are working with electricians and contractors to get power to the Pod and it is about a 3-week process that started last week. The goal is to have 10 Pods operating by the end of the year, but this will be our only Pod in operation to start. I am very pleased to announce that the production of the next 4 Pods will be a few months ahead of schedule and we are very proud of that.
Question: "Is ISWH late to the ‘Crypto Party’ and how will it compete with top miners?"
Pierce: The plain and simple answer is we are right on time. When it comes to technology, you just know there are going to be varying stages of evolution. Just take a look at smart watches and smart phones. Our first POD will utilize the latest mining technology and received a 1.06 efficiency score which puts it in the upper echelon of mining equipment in the industry.
Question: "What are your long-term strategies to grow Telehealth and what are the biggest business risks?"
Pierce: My Vision for the Future is to have this company constantly evolving and on the cutting edge of technology. I will run this company under the mantra, “What Can Be.” That being said, my ultimate goal is to increase profit margins through efficiency and eventual expansion via acquisitions which will subsequently increase shareholder value for the investors in this company. Although ISWH is very successful in the home health care Industry and will continue to be, expect the company to be on the forefront of innovation …in and beyond the Telehealth space. ISWH will continue to seek out acquisitions and joint ventures that will drive revenue and support operations. The biggest risk the company faces is for management to become complacent and stagnate in our thinking and I can promise you - THAT WILL NOT HAPPEN.
Question: "What is the target date for your uplist efforts?"
Pierce: For those who do not know how the process works, I will break it down. First, after a company completes the audit of its financials, the company fills out and submits an application to OTC, which we have already done. It is reviewed by the issuance and compliance people at OTC. If the application is done thoroughly, as ISWH’s was, there will not be any requests for additional information. We did not get a request for clarifications or additional information. Next, OTC sends a request for company officer information to do background checks, which we have already received… and that is where we are in the process. The whole process takes about 30-45 days. So, while I can’t give you an exact answer, that should give you a rough sense of the time table.
Question: "When are you going to announce bringing on key talent for whom you set aside 5 million in stock options?"
Pierce: This is a process. The most important part of acquiring people of this nature is that you are not only in search of qualified individuals but those who show passion for the vision of where this company is going. I get tons of resumes by US mail and by email. I am looking for that person who not only has the right credentials, but also has the intangibles and the ability to trailblaze, to disrupt the norms and see a future that a paycheck-chaser may not see. I am not going to rush this process, so it is difficult to put a timeline on it. When I sit down at the interview table and I have that person in front me that shows they are the right fit, I will hire them on the spot.
Question: "Has the increase in demand for Bitcoin driven the company to push ahead with plans faster than expected and what are the long-term benefits of converting cash into Bitcoin?"
Pierce: Of course. The great part is this: we made significant investments in our mining pod and partnered with Bit5ive before Bitcoin took off, which means we were able to step up our pace and get things going on the ground much faster once we saw it break out. As for our process of diversifying our cash into Bitcoin, we believe in the future of Bitcoin and digital payment systems, and we see cash as a largely unproductive asset on a long time horizon given the degree of monetary expansion, stimulus, and debt dragging down traditional currency systems. And those trends appear, based on our analysis, to be far more important than volatility factors for shareholder value over the long-term.
About ISW HoldingsISW Holdings, Inc. (ISWH), based in Nevada, is a diversified portfolio company comprised of essential business lines that serve consumer product demands. Our expertise lies in strategic brand development, early growth facilitation, as well as brand identity through our proprietary procurement process. Together, with our partners, we seek to provide a structure that meets large scalability demands, as well as anticipated marketplace needs. We are able to meet these needs through a variety of strategic innovative processes. ISWH is creating and managing brands across a spectrum of disruptive industries. It maneuvers its proprietary companies through critical stages of market development, which includes conceptualization, go-to-market strategies, engineering, product integration, and distribution efficiency. The company has also partnered with a well-known software development and consulting company, Bengala Technologies LLC, which is developing significant enhancements in the supply chain management space; and the partnership has a vitally needed patent now pending.
For more information, visitwww.iswholdings.com
Forward Looking StatementsThis press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could", "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
Company Contact:info@ISWHoldings.com
Public RelationsEDM Media, LLChttps://edm.media(800) 301-7883
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 47105.52, 48717.29, 47945.06, 49199.87, 52149.01, 51679.80, 55888.13, 56099.52, 57539.95, 54207.32
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-09-18]
BTC Price: 10198.25, BTC RSI: 46.85
Gold Price: 1507.50, Gold RSI: 53.24
Oil Price: 58.11, Oil RSI: 53.70
[Random Sample of News (last 60 days)]
Wells Fargo tests cryptocurrency for internal transactions: By Imani Moise (Reuters) - Wells Fargo & Co <WFC.N> said on Tuesday it will pilot its own digital currency powered by blockchain to help move cash across borders and between branches in real time. The currency, called Wells Fargo Digital Cash, will be linked to the U.S. dollar and transferred using the bank's distributed ledger technology to keep track of payments within its internal network. The system will allow the bank to bypass third parties in the asset transfer process saving costs and time, said Lisa Frazier, head of the Innovation Group at Wells Fargo. "We are eliminating the intermediaries which can often extend the timeline to be able to do cross border money transfers," she said. The fourth largest U.S. bank's corporate clients will not have to make any changes to the way they interact with the bank since the currency will not be client-facing. The pilot will begin next year but the bank has tested the technology by moving money between Canada and the United States. Following the broader roll-out the company hopes to expand to multi-currency transfers. Though Wells Fargo executives have been bullish on the potential for blockchain technology in financial services, the company has been more skeptical of cryptocurrencies like bitcoin which launched the system into the spotlight. Last year, Wells Fargo joined U.S. rivals in banning the purchase of Bitcoin by credit-card customers, due to the volatility of the investment. Blockchain technology has attracted billions of dollars in investments from banks and other companies, but concerns about implementation and scalability has hindered many blockchain projects so far. Early roadblocks have not stopped banks from experimenting aggressively in the space. In February, JPMorgan Chase & Co <JPM.N> launched its own digital currency, also linked to the U.S. dollar, that allows its corporate clients to transfer funds instantly across its internal blockchain network. (Reporting by Imani Moise; Editing by Lisa Shumaker) || California Couple to Forfeit Cryptocurrency Riches After Drug Bust: A California couple has pleaded guilty to a series of crimes related to darknet cryptocurrency deals, according to a Department of Justice filing on August 6.
Jabari and Saudia Monson arerequired to forfeitan undisclosed sum ofbitcoinandbitcoin cashthey acquired from selling illicit goods on Dream Market, a prominent anonymized marketplace.
Between July 2018 through January 2019 the couple operated vendor accounts named “Best Buy Meds,” “Trap Mart” and “House Of Dank” to distribute cocaine, cocaine base, methamphetamine, and marijuana.
Related:Dark Web Drug Dealer to Hand Over Bitcoin Millions After Plea Deal
Following an investigation conducted by the Homeland Security Investigation, the Federal Bureau of Investigation, the Drug Enforcement Administration, and the U.S. Postal Inspection Service, Jabari Monson pleaded guilty to conspiring to distribute controlled substances. He faces a maximum sentence of 40 years and a $5 million fine.
Saudia Monson pleaded guilty to violating the Travel Act and using the mail and internet to distribute controlled substances. She faces a maximum of 5 years in prison and a $250,000 fine.
A sentencing hearing is scheduled for November 19, where U.S. District Judge John A. Mendez will preside.
Drugs photo via Shutterstock
• New York State Sees First Conviction for Crypto Money Laundering
• Canadian Court Rules Drug Dealer Must Hand Over $1.4 Million in Bitcoin
• US Customs Official Claims Crypto Conversions Can Be Traced || Bitcoin's Lightning Network growth picks up: Bitcoin's Lightning Network is growing again, with both the number of network nodes and payments channels on the rise over the last 30 days.
At its core, theLightning Networkis adecentralizedsystem for instant and high-volumeBitcoinmicropayments—with payments as low as 1 satoshi (worth$0.0001) being able to instantly settle on the network. It's regarded as one of the key ways Bitcoin will be able to scale to support millions of payments and users per day.
According to data site1ml, the number of lighting nodes has increased by 3.5% to reach an all-time of 9,863–these are computers plugged into the network that help to keep it running.
Payment channels are also seeing substantial growth on the Lighting Network. These are, in essence, connections between nodes that help bitcoins get from one person to another. The total number of channels is up over 16% to 36,271. Now, 60% of all nodes on the network have active payment channels.
Tippin brings bitcoin tipping to iOS and Android
The growth of nodes with active channels is an especially positive development for the network–it demonstrates that people are not just setting up and running network nodes—but they are also opening and closing payment channels regularly. This helps the network to rout transactions and earns the node owner some fees for the transactions they process.
It's not all good news, however, as the total number of Bitcoin locked-up in the network today stands at 828 BTC ($8.3 million). This number has been on a downtrend over the last 2 months when the total lock up reached a high of 945 BTC, worth $11.2 million in July.
Will the network news have any effect? || Five retailers/brands that are all about the blockchain right now: Alibaba Group The People’s Bank of China is set to give its first round of central bank digital currency (CBDC) to Alibaba Group and seven others, including internet giant Tencent. According to a report by Forbes , the other beneficiaries will be China Construction Bank, the Industrial and Commercial Bank of China, the Bank of China, the Agricultural Bank of China, Chinese banking association Union Pay and an unnamed organisation. An anonymous source claimed that the technology was ready to ship, and that the ‘DC/EP’ (Digital Currency/Electronic Payments), as it has been dubbed, could roll-out as early as 11th November, China’s busiest shopping day, aka Singles Day. The recipient institutions will then be responsible for dispersing the cryptocurrency to 1.3 billion Chinese citizens and others doing business in the renminbi, China’s fiat currency, according to the source. They added that the central bank hopes the currency will eventually be made available to consumers in the US and elsewhere through relationships with correspondent banks in the west. Manchester City Manchester City has partnered with South Korean football gaming startup Superbloke. As a result, it will become Man City’s official blockchain-based Gacha partner in Korea, Japan and South East Asia. Superbloke will also incorporate the Premier League club’s players into its blockchain-powered FC Superstar online game. This lets users build a team by collecting, training and growing specially designed Man City digital player cards using real-life match stats and in-game training. Damian Willoughby, Senior VP of Partnerships at City Football Group, comments: “This new partnership marks another exciting milestone in City’s growing relationship with gaming and will create unique experiences for fans to engage with the club through digital platforms. We look forward to welcoming Superbloke to the Manchester City family and growing our knowledge of this developing industry through this partnership.” Story continues Petco Bitcoin rewards app Lolli has teamed up with US pet retailer Petco. There are two types of rewards that come with the partnership. One is that Lolli users can earn up to 3.5% satoshis (sats) of their purchases at Petco.com. They can also earn a flat 5,000 sats payment for sharing a photo of their dog and commenting on the tie up. “We are thrilled to partner with Petco and give our users the opportunity to earn Bitcoin for taking care of their furry friends. Pet food, toys, and treats are recurring costs, and now our users can look forward to Bitcoin rewards for looking after their pets, especially doggies,” says Matt Senter CTO and Co-founder, Lolli. Farmarket Farmarket, a pharmacy chain in Venezuela, is now accepting Dash cryptocurrency payments. An XpayCash PoS system has been deployed within the first pilot stores. This is operated by Panda Exchange and enables instant transactions, thanks to Dash’s InstantSend technology. During the first two months of operation, members of the local Dash team will be on hand to support staff and customers in understanding how the technology works and to answer general questions about Dash and X-PayCash. Roll-out to the entire chain of 22 stores is expected to be complete by the end of 2019. “Innovation supports our core values of serving clients, growth and system development, so being able to offer Dash through XpayCash will allow us to offer the most updated payments technology on the market,” says Cinthya Sagues, General Manager at Farmarket. ”Having the support from the Dash teams directly in the stores will allow us to bring the Dash experience we have seen in many parts of the country into our stores, and we are confident this will translate to a short learning curve and an improved service level to our customers.” “Enabling Dash payments at Farmarket is a massive step in growing our ecosystem of retailers. Dash users can now pay for essential products and medicines at a well-known and trusted pharmacy brand,” comments Ryan Taylor, CEO, Dash Core Group. “We expect our partnership with Panda in Colombia and Farmarket in Venezuela to be a substantial move toward a purchase driven economy, where not only Venezuelans in Caracas will be able to pay directly in stores with Dash, but also their relatives in Colombia and elsewhere will be able to buy medicine from abroad and resolve health issues for their relatives and loved ones.” Migros Switzerland’s largest retailer, Migros, is tapping TE-Food’s blockchain-based traceability system for a project involving its fresh fruit and vegetable supply chains. According to a press release: “Although a growing number of food companies are launching traceability projects, many of them focus only on the marketing advantages by providing transparent food information to their consumers. However, food traceability can provide more value from easier product recalls to improved supply chain control.” “Migros wants to achieve deeper supply chain insight to optimise its processes. Supply chain optimisation can lead to quicker distribution and reduced food waste, which is also part of the European Food Safety Authority’s (EFSA) initiatives for the next years,” it adds. Fresh food suppliers previously communicated traceability data from their legacy systems (ERP, farm management) to Migros via a GS1 standards-based API (EPCIS). This has now been extended to a B2B mobile app, a web app and file uploads, thanks to TE-Food. The system is for internal use and there are currently no plans to open it up to consumers. The post Five retailers/brands that are all about the blockchain right now appeared first on Coin Rivet . || Bitcoin’s hash rate reaches highs of 84 quintillion hashes per second: Bitcoin’s hash rate surpassed 80 quintillion hashes per second on Friday, continuing the upward trend that started in December as Bitcoin’s price began to rise. That means that the amount of computing power dedicated to “hashing” verified transactions is at an all-time high.
When Bitcoins are mined, transactions have to be verified, or “hashed”, before they’re added to the blockchain. The hash rate is an estimated number of hashes the Bitcoin network is performing per second.
On Friday, the hash ratereachedan all-time high: 84 quintillion hashes per second. The increase of hash rates coincides with the price of Bitcoin, which has been rising this year. Bitcoin’s price is currently $9,844, up from the low $3,000s in December.
The rising hash rate also means that the network is more secure and less susceptible to 51-percent attacks. The more computationally intensive puzzles that are being calculated at the same time, the more miners you’d need to launch an attack.
Bitcoin’s network is designed to adjust its mining difficulty around every two weeks. The more computers are mining bitcoin, the harder the puzzles are to solve. Accordingly, puzzles get easier to solve the fewer miners there are.
So it’s reasonable to assume that the hash rate rise could also be related to an increase of dedicated mining equipment, much of it from China–where the majority of bitcoin mining takes place. Prices of miners havereportedlydoubled in price in China to meet rising demand caused by the increase in price.
The surge also coincides with China’s rainy season. Rain is used by the hydropower plants that power the crypto-mining farms in China’s mountainous regions. China’s rainy season is set to end in September, though apparently the season was delayed a month this year.
The rise in Bitcoin’s hash rate doesn’t make the network any quicker, though, since block confirmations still take around 10 minutes.
Bitcoin’s hash rate is far greater thanEthereum’s, which reached a hash rate of 295 trillion hashed per second on August 9 last year. Ethereum’s hash rate hasn’t reached those highs since hash rates slumped in November 2018, currently sitting at 176 trillion hashes per second. Tsk. || Risk Aversion Hits, with the EUR, GBP and Dollar all in Action Today: Earlier in the Day: The economic calendar was on the busier side through the Asian session this morning. Economic data included August business confidence figures out of New Zealand and 2 nd quarter New CAPEX numbers out of Australia. Outside of the numbers, the Asian market reacted further the Wednesday’s U.S Treasury yield curve inversion to levels last seen back in 2007. For the Kiwi Dollar The ANZ Business Confidence index fell from -44.3 to -52.3 in August, the lowest level since April 2008. According to the latest ANZ Survey , Firms’ expectations for their own activity over the year ahead, fell by 6 points to -1, its lowest level since April 2009. Employment intentions fell by 3 points to -9, a net 9% of firms intending to reduce employment. Investment intentions fell by 4 points to -4, while profit expectations fell by 4 points to a net 20% of firms expecting profits to decline. That’s the worst reading since mid-2009. A net 41% of firms expect it to be tough to get credit. Inflation expectations fell from 1.8% to 1.7%, its lowest since late 2016. Export intentions fell by 2 points to -1, a net 1% of firms expecting exports to fall. The Kiwi Dollar moved from $0.63380 to $0.63228 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.43% to $0.6310. For the Aussie Dollar Private new capital expenditures fell by 0.5%, quarter-on-quarter, in the 2 nd quarter, following a 1.7% fall from the 1 st quarter. Economists had forecast a 0.5% rise. According to the ABS , Spending on buildings and structures fell by 3.3%, while spending on equipment, plant, and machinery rose by 2.5%. The Aussie Dollar moved from $0.67358 to $0.67281 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.12% to $0.6726. Elsewhere At the time of writing, the Japanese Yen was up by 0.24% to ¥105.87 against the U.S Dollar, with risk aversion driving providing support. The Day Ahead: For the EUR It’s a busier day ahead on the economic calendar . Ahead of the European open, consumer spending and 2 nd quarter GDP are due out of France. Later this morning, Germany’s August unemployment change figures and unemployment rate are due out. We expect consumer spending and unemployment change figures to have the greatest influence on the EUR. Also of influence are prelim inflation figures out of Spain and Germany. Outside of the stats, geopolitics will continue to provide direction through the day coupled with sentiment towards the economic outlook. At the time of writing, the EUR was up by 0.05% to $1.1083. News of Italy avoiding a snap general election provided support early on. Story continues For the Pound It’s another quiet day ahead on the data front. There are no material stats due out of the UK to provide the Pound with direction. The lack of stats will the markets to continue to fixate on events in Westminister. British PM Johnson stated on Wednesday that he had requested for the Queen to suspend Parliament from 10 th September. Pro-remainers had looked to block such a move in July and are now looking to speed up the case hearing that was scheduled for 6 th September. If the Scotland Court of Session rule against the pro-remainers, the chances of a no-deal Brexit will rise significantly, which is Pound negative. At the time of writing, the Pound was down by 0.08% to $1.2202. Across the Pond It’s a busy day on the economic calendar . Key stats due out of the U.S include 2 nd estimate GDP numbers for the 2 nd quarter, July trade data, pending home sales and the weekly jobless claims figures. Any downward revision to the GDP numbers would pressure the Greenback. We can also expect some market sensitivity to the trade figures. Of less influence on the day will be pending home sales and the initial jobless claims figures. Outside of the numbers, geopolitical risk will continue to drive the global financial markets. Any trade war chatter needs to be factored in on the day. At the time of writing, the Dollar Spot Index was down by 0.02% to 98.193. For the Loonie It’s a quiet day ahead on the economic calendar . Economic data due out of Canada later today is limited to 2 nd quarter current account data. We expect the stats to have a muted impact on the Loonie, however. Market sentiment towards the U.S – China trade war and the global economic outlook will continue to influence. The Loonie was down by 0.08% at C$1.3316, against the U.S Dollar, at the time of writing. This article was originally posted on FX Empire More From FXEMPIRE: U.S. Dollar Index Futures (DX) Technical Analysis – Has Regained More than 50% of Last Week’s Steep Break Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 29/08/19 Silver Price Forecast – Silver markets continue to rally Ethereum & Stellar’s Lumen Daily Tech Analysis – 29/08/19 GBP/AUD is Still Bullish But it Needs to Break an Important Resistance Forex Daily Recap – USD Index was Underway to its Monthly Tops View comments || Should Investors Buy Nvidia Stock Prior to NVDA’s Earnings?: Nvidia(NASDAQ:NVDA), the premieregraphics-chipmaker, is expected to report its second-quarter earnings onAug. 15after the market closes. Semiconductor stocks, including Nvidia stock, are among the equities that have been the hardest hit by the recent selloff.
Source: Shutterstock
Despite the recent slide of Nvidia stock price, it might still be too early to get back into NVDA, given its short-term risks that make it a highly volatile investment. In other words, I recommend investors wait for several weeksbefore buyingNvidia stock.
NVDA sells two main products: graphics processing units (GPU) andTegra processors. GPUs accelerate central processing units (CPUs), boosting the performance of video andgraphicsand improving computers’ overall output.
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When NVDA reports its Q2 results, Wall Street will pay attention to its five segments that drive its revenues: gaming, data center, professional visualization, automotive, and edge computing.
Gaming accounts for over 40% of Nvidia’s total revenue. In Q1, the unit’s revenue tumbled 39% year-over-year. Investors are quite worried about the company’sgrowth outlook, which is mostly based on its GPUs for gaming and artificial-intelligence servers. Nvidia’s EPS and Nvidia stock price are very closely linked to the sales trends of its GPUs.
Investors will also want to hear management’s take on the impact of cryptocurrency mining on NVDA going forward. In recent years, Nvidia stock price has been largely driven by the popularity of cryptocurrencies like Bitcoin.
However, analysts have noted thatthe crypto craze, which for the most part waned in 2018, can no longer be relied upon to further boost Nvidia’s GPU business. Indeed, NVDA’s fall from grace started with the collapse of thecryptocurrency craze.The collapse has dealt a blow to the top and bottom lines of NVDA.
Wall Street is also concerned that NVDA’s automotive business, based on the advent of artificial intelligence (AI)-powered autonomous vehicles, may suffer in coming months. Currently, automotive is the smallest of all of NVDA segments, accounting for just over 5% of its revenue.
For years, NVDA has been a leader in the competitive graphics-card market. However, in recent months the battle for market share between Nvidia andAdvanced Micro Devices (NASDAQ:AMD)in that segment has intensified.
Long regarded as the perennial runner-up to NVDA. AMDreportedits Q2 earnings on July 24. The next day, Nvidia stock price fell meaningfully, indicating that the owners of Nvidia stock are increasingly paying attention to AMD’s earnings.
For years, NVDA’s chips had been dominant in PCs. However, a higher percentage of video games are being played on consoles now, and NVDA’s GPUs aren’t usually incorporated into consoles.Sony(NYSE:SNE) is, for example, using AMD’s products in its consoles.
In this quarter, AMD is expected to start selling its Navi graphics cards that utilize its7-nanometer (nm) chips. They are touted as highly power-efficient. As AMD launches its Navi cards, it’s confident that its GPUs will takemarket sharefrom NVDA in the video-game chip sector.
Responding to AMD’s new products, Nvidia’s management has taken several steps. Specifically, NVDA has launched new “Super” versions of its RTX GPR offerings. These new versions areconsiderablyfaster than their predecessors. But NVDA is selling its new chips at the same prices as its old ones, effectively cutting its prices.
AMD has responded by reducing its own prices, making investors wonder if either chip maker will end up in good shape.
Over the past year, Nvidia stock price is down about 40%, and the shares have been quite volatile. As a result, the technical outlook of NVDA stock has been damaged. Its short-term chart still looks weak, and Nvidia stock price looks poised to drop even more in the near-term.
Although NVDA’s momentum indicators, which describe the speed at which stock prices move over a given time period, are currently in oversold territory, they can stay oversold for quite a long time. That’s particularly true when, as is the case with NVDA, a stock’s overall trend is down. Therefore, more buy signals based on momentum indicators need to be confirmed before Nvidia stock can become a buy from a technical standpoint.
I would suggest that long-term investors wait until Nvidia stock builds a base between $150 and its Dec. 2018 low of $125.
On the other hand, if the current trade tensions are swiftly resolved or NVDA reports strong earnings, Nvidia stock price could rebound quickly.
Given the volatility of Nvidia stock price over the past year due to the ongoing questions about the fundamentals of NVDA and its sector, I would urge investors to be cautious about NVDA stock.
The U.S.-China trade war has not helped NVDA, either, as China accounts for nearly a quarter of Nvidia’s sales. The headwinds of the sector make many analysts wonder whether NVDA can, in the near future, regain the kind of rapid and sustained growth that investors had grown used to in recent years.
Although Nvidia stock will likely reward long-term investors, tech stocks may remain volatile over the next few weeks. A couple of negative macro or global news headlines as well as questionable earnings results from NVDA on Aug. 15, may drive Nvidia stock price down. If that occurs, long-term investors will be given a better entry point in Nvidia stock.
As of this writing, Tezcan Gecgil did not hold a position in any of the aforementioned securities.
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The postShould Investors Buy Nvidia Stock Prior to NVDA’s Earnings?appeared first onInvestorPlace. || Bitcoin’s Surging Dominance – Is This Time Really Different?: Noelle Acheson is a veteran of company analysis and CoinDesk’s Director of Research. The opinions expressed in this article are the author’s own.
The following article originally appeared in Institutional Crypto by CoinDesk, a free weekly newsletter focused on crypto assets.Sign up here.
Everything flourishes with a bit of attention – even attention itself.
Related:$9,650: Bitcoin Price Dips Below Key Long-Term Support
You may have heardsome rumblingsrecently about the bitcoin dominance rate. This measures the weight of bitcoin in the crypto universe, by taking its market cap as a percentage of the total market cap for all crypto assets. Traders and investors keep an eye on it as an indicator of market preference.
It should surprise no-one that bitcoin is the dominant crypto asset, given its long track record and mainstream media attention. What is setting off alarms is its recent ascent: it is now hovering around 70 percent, a level not seen since April 2017, just before the previous bull market took off.
(Source: CoinMarketCap.com)
Related:Bitcoin Drops to $10K in Worst Daily Loss in a Month
Some speculate that this means another bull run is imminent, one that will push bitcoin’s dominance to above 90 percent and effectivelykill offany alternative crypto asset’s hopes of capturing significant market share.
Others see itas a signthat alternative crypto assets are on the verge of a recovery as investors pivot in search of outperformance.
As with any data point, there is much open to interpretation. Chart analysis aside, market metrics are rarely useful in isolation, and to get a feel for what the bitcoin dominance rate is telling us, we need a deeper understanding of what it represents – and why a rising number is not necessarily good news.
Why is the bitcoin dominance rate worth paying attention to? Surely everyoneknowsbitcoin is the leader?
Because it’s a relative measure that points to preference, conviction and momentum.
Price measures bitcoin’s popularity. Dominance measures its popularityrelative to othercrypto assets. In theory this could mean a “flight to quality” as investors get spooked by market risk and switch out of smaller cap tokens into a “safer” asset. Or, it could represent growing interest in the sector as a whole, along with conviction that bitcoin has the strongest fundamentals.
Either way, it highlights that, of all crypto assets, bitcoin is the most attractive from an investor’s viewpoint. (It’s important to note that dominance can increase as the price goes down, and decrease as the price goes up – it’s a relative, not absolute, measure.)
This matters for several reasons, one of which is what it says about market sentiment. While bitcoin is a speculative asset, it can be considered less speculative than smaller cap tokens, given its relative liquidity, history and network size. Its growing dominance points to a focus on fundamentals and on relative “safety,” which depicts a more grounded level of investor participation than in the ICO-fueled boom of 2017.
While not necessarily predictive, sentiment indicators tend to be recursive – you can’t be sure the trend will continue, let alone with what energy, but positive sentiment generally has in-built inertia. If traders choose to buy based on these indicators, they reinforce them, which encourages more traders to buy, and so on.
Another important consequence is market confidence, especially at the early stages of institutional involvement.
Large traditional funds are not, on the whole, particularly concerned with the relative merits of one token versus another. They are more likely to be evaluating whether to invest in crypto or some other speculative asset class as part of their portfolio diversification. For most, if they choose to invest in the sector, bitcoin is the only viable option: it’s the only one that 1) has sufficient liquidity to absorb a small- to medium-sized allocation; 2) has a lively derivatives market; 3) can count on a wide range of on-ramps and 4) is definitely not an unregistered security in most jurisdictions.
The protagonist role of bitcoin is likely to increase the confidence of traditional investors in the sector overall, burnishing its reputation and making their decision easier. In the absence of concrete valuations (difficult with bitcoin using traditional methods, since it has no cash flows), sentiment is usually as good a market indicator as any.
No trend continues forever, though.
Previous run-ups in the dominance factor have been met with a correction as investor attention pivots and new alternatives come into play. In spite of momentum, in virtually all asset classes there comes a reckoning, in which market leaders become overvalued relative to the runners-up, and knowledgeable investors take profits in order to re-invest in more attractive opportunities.
But this is unlikely to happen in the short term, even though the last bull market saw bitcoin’s dominancedrop fromover 85 percent to below 40 percent. This time itisdifferent.
Why? Last time the latter stage of the bull market was largely driven by the hyped potential of initial coin offerings, many of which promised revolution and riches based on marketing documents masquerading as white papers. The retail market poured into speculative tokens, which ramped up their value relative to the more “boring” bitcoin – at one stage, it looked like ether was going topush bitcoin offits market leader pedestal.
Recent market activity, however, has felt much more subdued (in spite of occasional shenanigans), largely due to increased regulatory scrutiny. The “sobering up” of the bear market, during which lawmakers and enforcers got to grips with the potential and threat of this new asset class, entrenched more rigorous standards for token issuers, promoters and investors. Many of the tokens issued in 2017 are now defunct, and while other interesting opportunities have emerged, the flow is more careful and calculated.
What’s more, the expected role of institutional investors in the next bull run, with their focus on bitcoin as the representative crypto asset, is likely to push bitcoin’s dominance up even further.
What will it take for that to change?
All trends do eventually tire, to be replaced by new, more energetic ones. The same will happen with bitcoin. Once bitcoin investment by institutions is not such a novelty, and once deeper liquidity has dampened volatility, aggressive managers eager to beat their peers’ performance are going to start thinking about where to find alpha.
That’s when they start to look at other assets. They may rotate out of bitcoin into more overlooked alternatives; or they may put in fresh money. Either way, the relative weighting of other crypto assets will increase.
This is unlikely to happen any time soon, though.
Institutional involvement is just getting started and has a long way to run. Current currency turmoil and macro uncertainty may accelerate this, but a more likely scenario is that the bulk of institutional money, which tends to be relatively conservative, will wait for signs of further momentum before risking their reputations and returns.
Meanwhile, growing bitcoin dominance presents a risk we should not overlook: that bitcoin becomes firmly entrenched asthego-to crypto asset for the bulk of crypto investment, to the extent that it smothers interest in other ideas.
This would not be good for the sector, for two main reasons.
One, it would suck funding out of other areas of the market and stifle development of blockchain applications. Blockchain technology’s potential goes beyond bitcoin; it presents the opportunity to re-think how business models work, how assets can be valued and how income and capital can be distributed in a more decentralized economy. Other crypto assets are manifestations of this potential, and should be able to approach the market for funding and validation.
Two, concentration is a sign of an immature asset class. Imagine an emerging stock market in which one company accounts for 80 percent of the country’s market valuation. A diversified category will be more resilient, flexible and powerful, as internal connections and synergies empower a profitable irrigation of resources.
We are entering a phase where more attention will be paid to the dominance metric, which is likely to continue creeping up for some time. Some analysts are suggesting alternative calculations,taking out“fake volumes” and even stablecoins (since they are not seen as a competing investment vehicle) – a re-adjusted figure could beas high as90 percent.
Could we get to a “tipping point” beyond which diverting attention from bitcoin will be extremely difficult?
It’s possible, but unlikely. People generally want to differentiate themselves from others; that also applies to their investment portfolios. Not only will investments in not-so-high-profile tokens better reflect retail investors’ personal preferences; but professional competition will also encourage crypto diversification in a search for outperformance.
Bitcoin’s dominance will probably continue to be unassailable for at least a few more cycles, though, and the inflow of funds, even if concentrated, will help the market infrastructure continue to mature. But, in the end, creativity and innovation always find a way to manifest.
Meanwhile, we should celebrate that bitcoin has not only survived but thrived. Its growing dominance and rising liquidity are signs that a greater number of investors believe in its potential. However, as exciting as that may be, it’s not the only thing going on.
As investors, we also need to keep an eye on what’s happeningout of the limelight; from there will emerge the interesting opportunities of tomorrow.
Bitcoin imagevia Shutterstock
• Bitcoin’s Price Looks Set for a Drop to $10K
• Samsung at Last Adds Bitcoin Support to Its Blockchain Phones || USD/JPY Fundamental Daily Forecast – BOJ Could Adopt ‘Wait and See’ Strategy: The Dollar/Yen closed higher on Monday as investors positioned themselves ahead of the release of the Bank of Japan’s monetary policy statement and interest rate decision early Tuesday. The price action suggests investors are expecting a dovish tone from central bank policymakers. Traders should little reaction to a drop in U.S. Treasury yields and mixed demand for risky assets.
On Monday, theUSD/JPYsettled at 108.786, up 0.110 or +0.10%.
In economic news, Japanese Retail Sales came in at 0.5%, better than the 0.2% forecast. The Unemployment Rate came in at 2.3%, lower than the 2.4% estimate. Preliminary Industrial Production fell 3.6%, worse than the minus 1.8% forecast. The previous month’s report was revised lower to 2.0%.
Japan’s unemployment rate dropped in June from a month earlier, the Ministry of Internal Affair and Communications said in a report on Tuesday. According to the ministry, the unemployment rate stood at 2.3 percent in the recording month, down from 2.4 percent a month earlier.
Japan’s preliminary industrial production fell more than expected in June. For the year, industrial production fell -4.1% versus -2.0% estimate. The prior month was at -2.1%. The bearish numbers reflect the slowing global economy caused by the trade tensions between the United States and China.
The Bank of Japan is widely expected to leave monetary policy unchanged and reiterate its current aggressive easing stance. This report carries event risk because some analysts believe the BOJ could tweak policy, or suggest that more stimulus was coming in the future. If central bank policymakers are more dovish then expected then the Japanese Yen could weaken.
“Some 81% of 47 economists surveyed by Bloomberg see the BOJ sticking with its current policy settings at the meeting, while 19% predict additional easing. The meeting comes the day before the Fed is widely expected to cut U.S. interest rates for the first time in more than a decade.”
“While the vast majority of analysts think the BOJ will want to conserve its scarce firepower for now, a key focus will be the BOJ’s stance on future policy. Roughly a third of polled analysts expect the bank to strengthen its pledge to keep rates at extremely low levels at the meeting.”
“We think the BOJ will adopt a wait-and-see strategy ahead of the Federal Reserve’s decision on July 31… The BOJ’s latest growth and inflation outlook and any tweaks to its forward guidance will be a focus.”
Thisarticlewas originally posted on FX Empire
• USD/JPY Fundamental Daily Forecast – BOJ Could Adopt ‘Wait and See’ Strategy
• AUD/USD and NZD/USD Fundamental Daily Forecast – Aussie Dips Slightly on Lower Building Approvals
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 30/07/19
• S&P 500 Price Forecast – Stock markets continue to await the Fed
• NEO Technical Analysis – Support Levels in Play – 30/07/19
• Grains Positive Amid Hot Weather Conditions, Ahead of Fed || Bitcoin Price Sees Steep Drop After Rejection Above $12K: The price of bitcoins recent rise above $12,000 was stopped short a few hours into its rally, with prices sliding by more than $1,000 over the course of the U.S. trading session that followed. Beginning 10:15 UTC and lasting until 22:15 UTC, BTC witnessed a large pullback, followed by a small bounce near $11,200, providing temporary support. Still, bitcoins local daily high near $12,325 was the highest price point since July 10. With a daily open on August 6 set at $11,800, BTC broke $12,000 at 06:45 UTC to cement a 24-hour high just under $12,300 at 10:15 UTC. From there, a 30-minute sell-off was induced, with its price falling to $11,671. Related: Shark Tanks Kevin OLeary Questions Bitcoins Role as Safe Haven At the time of writing, BTC is currently changing hands at $11,471 The move down, however, failed to draw significant supporting volume with only 1.1 billion traded over a 24-hour period. This hints a deeper drawdown to levels near $11,200 could be possible. Major names such as ether (ETH), litecoin (LTC), XRP (XRP) and EOS (EOS) also began to fall in value at around the same time as BTC, losing between 2-6 percent over 12 hours. Related: Bitcoin Price Rises Above $12K to Hit One-Month High Disclosure: This author holds bitcoin at the time of writing. Line Image via CoinDesk Related Stories Bitcoin Eyes $12K Price Hurdle as Dominance Rate Hits 28-Month High Bitcoins Price Jumps Back Above $11K for the First Time In 3 Weeks
[Random Sample of Social Media Buzz (last 60 days)]
@foxyc0de Sounds like one of my old bitcoin mining buddies is back at it again. || HTC will preload a Bitcoin Cash wallet on its blockchain phone https://t.co/4D3r8x9tWB || 初心者の方でも簡単にスマホでも取引できますよ♪coincheckへの登録は下記URLから！
https://t.co/SodSNl56qR
#仮想通貨
#Bitcoin
#ETH
#Ripple
#LISK
#XEM || "The story teller makes no choice
Soon you will not hear his voice
His job is to shed light
Not to master
Since the end is never told
We pay the teller off in gold
In hopes he will come back
But he cannot be bought or sold."
Pay attention to "Daniel Jones" 🏆 || [#Bitcoin] NFL Quarterback @MattBarkley wants his contracts in Bitcoin. https://t.co/RKMtQbOJ4T https://t.co/0z8ti9vl8Q || Like Atlanta and lean, or LA and weed, Detroit's new strain of rap has its own set of signifiers: bank account drops, Bitcoin and fraud. https://t.co/0W2Xh6yQao || BTC
現状最も意識すべきである「トライアングル」でしょう。
先日の急落でより明確となりました。
AC点を結ぶサポートラインの防御が成功すると、トリプルボトムの形成。
トライアングル上抜けの可能性は大きく高まります。
昨日の日足ではライン付近での大きな下ひげが形成されました。 https://t.co/ylNwWU47Cg || Investors are smart now. They know alts are garbage and BTC is now a Bitcoin imposter.
https://t.co/2GtOYzcOrs || Bitcoin is not behaving like a safe-haven asset, says Ikigai founder Travis Kling - FXStreet https://t.co/bySvu9LHNE || 09/06 21:20 現在のビットコインの価格
BTC/JPY ask: 1,169,795 / bid: 1,169,601
・sp: 194 ・ps: +0.281%
|
Trend: down || Prices: 10266.42, 10181.64, 10019.72, 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-11-26]
BTC Price: 3779.13, BTC RSI: 15.01
Gold Price: 1220.20, Gold RSI: 51.70
Oil Price: 51.63, Oil RSI: 23.04
[Random Sample of News (last 60 days)]
Bitcoin may hover above $4,795: SINGAPORE (Reuters) - Bitcoin has found a support at $4,795. It may hover above this level or bounce toward a resistance at $5,151. (Graphic: TECH/C - https://tmsnrt.rs/2PGzApA) The support and the resistance are identified respectively as the 100 percent and the 86.4 percent projection levels of a downward wave (c) from $7,411.85. Given that both the former supports at $5,412 and $5,151 temporarily stopped the fall, the current support looks stronger and may trigger a bounce. A break below $4,612 could cause a loss into the range of $4,177-$4,413. (Reporting by Wang Tao; Editing by Rashmi Aich) || What Year is it? Rebecca Black Parody Pumps Bitcoin Black Friday: It may have been elicited reactions varying from mild amusement todeath threats, but Rebecca Black’s “Friday” released in 2011 certainly got eyeballs — more than 127 million at last count.
Whether it was outraged cultural commentators, 4chan jesters, or curious viewers, all views count, and a YouTuber calledFinally Cryptois using the same strategy to promote crypto firmBitPayas a mainstream payment solution. Titled “BitPay – Black Friday Bitcoin Song,” the video is racking up a moderate amount of interest ahead of the annual post-Thanksgiving sale known asBlack Friday.
While the video adopts a decidedly slapstick method of passing across its message, its target audience is not in any doubt, with millennials clearly targeted throughout its three minutes, with several written messages like “Get with the program!” “Everyone’s adopting bitcoin,” “Fiat losers,” and “Don’t be a weirdo” appearing periodically. Interestingly, Finally Crypto is not affiliated with BitPay but created the video as part of an independent campaign to encourage bitcoin adoption ahead of Black Friday.
While the video has not achieved anything close to Rebecca Black-levels of attention, it is certain to generate a reaction within the crypto space, with a stamp of approval from BitPay itself.
Reacting to the video in the comment section through its official YouTube account, BitPay said:
“Whoa! We love this, and we are beyond flattered. We’re so happy that you’ve had a chance to use the card to shop at more places that are a little behind on the tech adoption curve ;) We’d say you’ve topped Rebecca Black, and with any luck, Black Friday will be a win for everyone in this video. Look for an email from us! We’d love to get in touch and send you a gift to thank you.”
A few days ago, CCNreportedthat investment bank Piper Jaffray published research showing that American teenagers are now beginning to prefer cryptocurrency and Fortnite V-bucks to gift cards and fiat currency on their Christmas wish lists. At a time when crypto markets are taking a beating, such data along with cultural anecdotes like Crypto Finally’s Friday parody provide much-needed perspective regarding the probable long-term prognosis of crypto.
The positive conclusion is supported by a recent researchreportcarried out by Deidre Campbell, Global Chair of Financial Services at Edelman. In the report, it was revealed that more than 55 percent of millennials have already invested or are planning to invest in cryptocurrencies.
Featured Image from Rebecca Black/YouTube
The postWhat Year is it? Rebecca Black Parody Pumps Bitcoin Black Fridayappeared first onCCN. || BitPay Sides with Bitcoin ABC in Bitcoin Cash Hard Fork: BitPay has joined the litany of industry heavyweights includingCoinbaseandBinancein backing the Bitcoin Cash ABC side of the upcoming Bitcoin Cash hard fork.
Without delving too much into the debate surrounding the upcoming chain split, Bitpay said ina blog post:
BitPay’s system uses the primary software implementation of Bitcoin Cash called Bitcoin ABC. Bitcoin ABC has scheduled a Bitcoin Cash protocol change via hard fork on November 15th. […] BitPay has not made any plans to migrate from the Bitcoin ABC implementation of Bitcoin Cash to a different implementation.
They also recommended that users not send transactions in the time surrounding the actual hard fork, saying this could increase the risk to user funds being lost or double-spent.
During the fork, your funds held in your wallet will be safe, and you won’t be at risk of losing funds. However, we strongly recommend that you stop sending or receiving transactions from your Bitcoin Cash wallets at 10 AM EST (about two hours before the fork). During a hard fork , there is an increased risk that outgoing or incoming transactions can be lost or double-spent.
With Coinbase, Bitpay, and Binance all having announced support for one side of the split, the “Satoshi Vision” client and chain, which as a baseline raises the maximum block size to 128MB currently only truly has the support of the largest BCH mining pool, Coingecko. If the economic support of the market tends toward one version or the other, miners are likely to follow suit – individual miners, without regard to the mining pool as a whole.
Craig Wright and nChain believe they are restoring the original vision of Bitcoin and disregard all evidence to the contrary. CEO Jimmy Nguyen saidearlier this year:
Answering the call of miners, nChain is happy to provide technical capabilities needed to support Bitcoin SV. Once the Bitcoin protocol is fully restored and maintained, global businesses and developers can reliably build robust applications, projects and ventures upon it – just as they reliably build upon the long-stable Internet protocols. The future of Bitcoin is big blocks, big business, and big growth. Bitcoin SV is an important step toward that big future by advancing the professionalization of Bitcoin.
Featured image from Shutterstock.
The postBitPay Sides with Bitcoin ABC in Bitcoin Cash Hard Forkappeared first onCCN. || Bitcoin crashes to lowest this year, losses top 25 percent in a week: By Tom Wilson and Tommy Wilkes
LONDON (Reuters) - Bitcoin slumped on Tuesday to its lowest this year, tumbling as much as 10 percent to breach $4,300 and taking losses in the world's best-known digital coin to 25 percent within a week.
Other smaller coins also skidded sharply as a broader cryptocurrency sell-off, said by traders and market makers to be rooted in heavy selling at leveraged Asian exchanges, gathered steam.
The fall followed a sudden plunge last week that shook bitcoin out of a period of relative stability, where prices had hovered around the $6,500 mark for several months.
Bitcoin sunk as far as $4,327, its lowest since October 2017. By mid-afternoon, it was trading around $4,750 on the Bitstamp exchange.
"We'd been waiting for a break-out," said Mati Greenspan, senior market analyst at eToro. "When you have the price moving so steadily you had lots of stop-loss orders building up - and now you are seeing them being liquidated."
Ripple's XRP <XRP=BTSP> and Ethereum's ether <ETH=BTSP>, the second and third-largest coins, fell as much as 14 and 16 percent respectively before clawing back losses in U.S. trading hours.
Tuesday's falls coincided with broader drops in financial markets. European shares fell as poor retail results and weakness in Apple Inc <AAPL.O> dragged down Wall Street.
Bitcoin has plummeted over 75 percent this year from a peak of $20,000 touched in December as retail investors piled into a one of the largest bubbles in history.
"CASINO MENTALITY"
Traders and market makers blamed bitcoin's slide on heavy selling at leveraged exchanges in Asia such as Hong Kong-based OKEx and Bitmex. Few exchanges in the West lend bitcoin to traders, making the Asian venues popular with speculators.
"The presence of leverage makes day traders attracted to Asian markets," said Michael Moro, CEO of Genesis Global Trading in New York, one of the biggest over-the-counter trading desks.
"Folks who are risking 100X type of leverage, it’s really difficult to think of that as an investment – it’s a casino mentality."
Others blamed fears that last week's "hard fork" in bitcoin cash, where a software upgrade split the fourth-biggest coin into two separate currencies, could destabilize others.
The price of bitcoin tends to be sensitive to debates over how its underlying network evolves. Last year the suspension of hard fork planned by major developers and investors proved a major catalyst to its breakneck rise.
TOUGH BILLING
Mainstream investors have stayed clear of bitcoin, with concerns over scant regulatory oversight and undeveloped market infrastructure compounded by frequent swings in price.
That lack of involvement has seen bitcoin struggle to live up to its billing as something that will revolutionize world finance. Its usage as a payment currency has shriveled this year.
At the same time, bitcoin's plunge in value has calmed the fears of regulators and central bankers that it could one day pose a risk to financial stability.
According to industry tracker Coinmarketcap.com, the total value of cryptocurrencies is now around $154 billion, down from a peak of around $800 billion in January.
Cryptocurrency advocates say bitcoin is still young and price volatility is to be expected. Many predict the need for virtual currencies that operate beyond mainstream banking will outlast any short-term price falls.
By late afternoon, XRP and ether were trading around $0.45 and $142 respectively on the Luxembourg-based Bitstamp exchange.
"The euphoria has died and prices have consolidated with lower lows and lower highs," said Fawad Razaqzada, an analyst at Forex.com. "A lot of people have lost interest."
(Reporting by Tom Wilson and Tommy Wilkes,; Editing by Saikat Chatterjee and Ed Osmond) || Parsing Visa's Big Quarterly Dividend Hike: The ubiquitous financial services player Visa (NYSE: V) isn't exactly an income stock -- its dividend yield has fairly consistently been below 1% for years. But it does pay out regularly to shareholders, and it's prefacing its next quarterly readout with a dividend boost from $0.21 to $0.25 per share. Which raises two interesting questions for MarketFoolery host Chris Hill and senior analyst Jason Moser. On the one hand, why is this highly profitable company not offering an even bigger hike? And on the other, in this rapidly evolving era of the war on cash, could Visa be doing better things with its excess cash? In this segment from MarketFoolery , they discuss Visa's cash cow structure, its stock repurchases, and the M&A possibilities it thus far seems to be ignoring. A full transcript follows the video. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This This video was recorded on Oct. 18, 2018. Chris Hill: Visa reports their latest quarter next week, but in the news today because Visa is hiking their quarterly dividend nearly 20%. That sounds great until you look at the actual number. It's going from $0.21 a share to $0.25 a share. Look, it's a boost. I'm sure the Visa shareholders are happy about that. Does this tell you anything about what we should expect next week? Visa is a monster business. It's a $330 billion company. They've got the cash to hike their dividend. But in a weird way, this move raises more questions than answers for me. I look at this and I think, wait a minute. Why aren't you hiking it more? What else could you be doing with that money? What, if anything, does this tell you? Story continues Jason Moser: You hit the nail on the head there, it actually makes you start asking a few more questions and digging in a little bit deeper. And once you dig in a little bit deeper, you come away from that thinking, what the hell? Why aren't these guys paying me a bigger dividend or something? There's some pretty interesting numbers behind here. I'm always happy to see the dividends of the shares that I own go up, and I'm a Visa shareholder. I'm never going to turn that down. And I'm not just going to pick on Visa, because MasterCard is essentially the same here, they're kind of in the same boat. I don't think they're doing enough on the dividend side, and the numbers really do bear that out, particularly when you consider the models. They generate these net margins regularly of 40% or higher. They just generate buckets of cash. They have strong balance sheets, very reliable, competitive positions there. When you look at the numbers alone, from 2013 through 2017 Visa spent $26.7 billion on share repurchases. Then, that share count has come down. That's good, that helps juice that earnings per share number, because it brings down that share count. These companies are always going to be really valued on that EPS multiple. $26.7 billion in share repurchases. Over that same stretch, they spent just under $6 billion on dividends. Considerably more of their capital is going to repurchases as opposed to dividends. I don't know that you would ever argue one of these businesses to be cheap. These are leaders in their space. Much like companies like Home Depot or McCormick , you rarely see them on sale. Then, you start asking yourself, really, what would you rather have? Would you rather have them bringing that share count down or give you the cash in the pocket? I mean, give me both, right? But perhaps you could juice the dividend a little bit more. Those yields are still only 0.5%. The flip side of that is, as a shareholder, I think we get to look forward to many dividend raises to come in the future. I plan on holding the shares indefinitely. But as you said, it creates a lot of questions and you come away scratching your head. Hill: Also, when we've seen the innovation with companies like PayPal (NASDAQ: PYPL) and Square (NYSE: SQ) , one of my questions when I was looking over their financials this morning was, why aren't they taking a run at one of those companies? Maybe not PayPal. And I'm not saying necessarily, why aren't they going out, sitting down with Jack Dorsey, and saying, "OK, Jack. We're 11X the size of Square. We'd like to bring you in house. How do we make this happen?" I'm not saying that. But when I see nothing but share buybacks and dividend hikes, meager as they are, I ding companies a little bit. Maybe that's unfair, but I look at that and go "Those are your two best ideas when it comes to capital allocation?" Moser: I think that's probably is pretty fair. Matt Frankel and I talked about this on Industry Focus before, we look at companies like Visa and MasterCard, compare them to PayPal and Square. The neat thing about businesses like PayPal and Square -- remember, PayPal has Venmo, Xoom. It has a number of brands under that umbrella. These are businesses that were very much built based on mobile technology and technology of today. Visa and MasterCard have been around for a long time, essentially just operate that toll booth. I think that those two bigger businesses have suffered a little bit from this move toward technology. So, they've had to figure out ways to partner up with companies like PayPal and Square and find a new position in that value chain. So, you can fund your PayPal account with your Visa card that's linked to your checking account, or whatever it may be. Visa and MasterCard still get to play in that sandbox, but they do maintain, perhaps, a little bit of a diminished role from before. PayPal is such a big company now. It's around a $100 billion market cap, I think technically still bigger than American Express even today. Square, I think, is headed down that same path. For Visa and/ or MasterCard to talk about an acquisition is going to cost an arm and a leg. Plus, I don't think those businesses are interested. And, you probably have some antitrust questions, as well. I think they're going to continue to figure out ways to partner up with businesses like those to maintain a position in that value chain so they get something, because something is ultimately better than nothing. Chris Hill owns shares of PayPal Holdings. Jason Moser owns shares of MA, MKC, PayPal Holdings, Square, and Visa. The Motley Fool owns shares of and recommends MA, PayPal Holdings, and Square. The Motley Fool owns shares of Visa and has the following options: short February 2019 $185 calls on HD, long January 2020 $110 calls on HD, short January 2019 $82 calls on PayPal Holdings, and short January 2019 $80 calls on Square. The Motley Fool recommends HD and MKC. The Motley Fool has a disclosure policy . || Crypto Exchanges Line Up to Support Bitcoin Cash's Hard Fork: Bitcoin cash is undergoing a hard fork on Nov 15., and it might result in a split. So which exchanges will support the new cryptocurrency? Six of the top 10 crypto exchanges by bitcoin cash (BCH) trading volume have announced plans to support the cryptocurrency's upcoming hard fork on Nov. 15. Bitcoin cash's roadmap includes upgrades to its core code every six months, but disagreement over some changes to the network have raised the specter that two distinct branches of the cryptocurrency could take shape, given that two implementations â Bitcoin ABC and Bitcoin SV â are being put forward by competing teams. While the outcome isn't clear, one scenario would see two separate cryptocurrencies arise from the fork. As users will automatically receive an equal amount of the new coin to the amount held in BCH, it is important that their exchange is prepared for the event and will later allocate the new tokens. Up $100: Bitcoin Price Indicators Grow Increasingly Bullish A number of exchanges have now made clear their positions should a split occur, with OKEx, Binance, Bitforex and Huobi having all stated that they will "support the hard fork." Poloniex, a rank 51 exchange for BCH, stated more explicitly that it is "prepared to support trading markets for both tokens." Coinbase was more reserved, saying it will support the current roadmap, but it added: "In the unlikely event that multiple viable chains persist after the fork, Coinbase will ensure that customers have access to their funds on each chain." In preparation for the event, most exchanges have said they will suspend bitcoin cash withdrawals and deposits soon before the fork to ensure customer funds are not at risk due to instability of the post-fork network(s). Users should take care not to deposit BCH during this period in such cases. It's Hard to Short Crypto – And That's Propping Up Prices, Study Finds And it's not only exchanges that are having to take decisions over the potential creation of a new coin. France-based hardware wallet maker Ledger has said that, if the fork results in separate bitcoin cash blockchains, "eventually, one of these would be the dominant chain, which we will evaluate to support again then." Story continues It's worth noting that Bitmex recently launched a fork monitor for bitcoin and bitcoin cash. The BCH hard fork is set to go occur on Nov. 15 at around 17:00 UTC. Here's the current status of the top 12 BCH markets on CoinMarketCap  regarding the hard fork at press time: OKEx â support confirmed BitForex â support confirmed Binance â support confirmed Digifinex â no statement Huobi â support confirmed Bitfinex â no statement Upbit â support confirmed HitBTC â no statement Coinbase Pro â support confirmed Bitbank â not confirmed Coinsuper â support confirmed GDAC â no statement Wallets Ledger â review confirmed Forks image via Shutterstock Related Stories Bitcoin Cash Price Climbs 11% to Hit 2-Month High The Number of Bitcoin Short Positions Just Hit a 3-Month Low || Twitter: Bitcoin Scams Came from Third-Party Marketing App: twitter bitcoin scam Last week’s bitcoin “giveaway” scams on Twitter, which saw one of Google’s social media accounts compromised , was the result of a hacked third-party provider and not the social media platform’s system, Twitter has claimed. In an email correspondence with Hard Fork , the tech company firmly established that a loophole in an unnamed third-party app was exploited by the hackers to share their scammy tweets. Twitter’s confirmation comes less than a week after the account of some high profile brands were hacked on the platform, most notably Google and retail giant Target , in a bold move to promote scammy bitcoin giveaways. In its usual way, the scammers asked non-savvy Twitter users to send small amounts of cryptocurrency for a chance to win big — as much as 10,000 BTC. Google twitter bitcoin scam Target posted an update after the scammy tweets from the hackers were taken down, stating that its “Twitter account was inappropriately accessed” before backpedaling to Hard Fork, explaining that the hackers took advantage of a loophole in a third-party marketing app used to publish content on behalf of the retailer on Twitter. Using a third-party app explains how the thieves were able to get hold of so many verified Twitter accounts to publish the same giveaways. About the same time Target’s account got hacked, The Body Shop, Toledo Rockets, Universal Music Czech Republic, and even the UNHCR Serbia account were compromised. This was not the first time a high profile Twitter account had been compromised for the promotion of crypto giveaways. Tesla CEO Elon Musk was long the target of choice for Twitter bitcoin scammers. Once they took control of a verified account, the hackers would replace the profile picture and name of the brand with that of Elon Musk . Both Pathe UK and Cap Gemini Australia had their accounts hacked and replaced with a hastily-assembled profile mimicking Musk’s real one. There have been a lot of criticisms on Twitter in the past few months over their ad vetting process, as a lot of commentators believe the social media network should be able to put a hold to the scams. Cornell professor Emin Gun Sirer lashed out at Twitter in March, asking them how they intend to improve the platform when they can’t even “detect this kind of brazen scam?” Twitter’s CEO Jack Dorsey had replied with a reassuring sentence, stating: “We are on it.” Eight months later, the Twitter scams are stronger than ever. Featured Image from Shutterstock The post Twitter: Bitcoin Scams Came from Third-Party Marketing App appeared first on CCN . View comments || 3 Stocks That Are Absurdly Cheap Right Now: The stock market is historically expensive right now -- even after the broad plunge during October. In fact, the 10-year average price-to-earnings ratio of the S&P 500 has only been higher than it is today twice before: right before the Great Depression in 1929 and in the run-up to the dot-com bubble during the late 1990s.
But here's some good news: There are always stocks on sale. We asked three contributors at The Motley Fool to weigh in with the most absurdly cheap stock on their radar. Here's why they choseRenewable Energy Group(NASDAQ: REGI),Allergan(NYSE: AGN), andGeneral Motors(NYSE: GM).
Image source: Getty Images.
Maxx Chatsko(Renewable Energy Group):Shares of the nation's largest biodiesel producer have gained more than 140% in the last year, but they're still absurdly cheap. How can that be?
In past years, Renewable Energy Group needed the blender's tax credit (BTC), a federal subsidy for biodiesel producers, to achieve profitable operations. The problem is that the BTC has become a political football, which has resulted in the subsidy expiring in 2010, 2014, 2015, 2017, and again in 2018. While it was retroactively reinstated each year (it remains lapsed year to date), the uncertainty has not been welcomed by Wall Street. Thus, shares have always traded at a steep discount to book value, earnings, and several other metrics.
That all changed in 2018. Renewable Energy Group has outgrown its dependence on the BTC, posting profits in each of the last three quarters without any help from federal subsidies. That'searned the respect of Wall Streetand handed the business a $1 billion market cap. But despite the 140% surge in share price in the last year, the stock still trades at just 1.3 times book value, aPEG ratioof 0.27 (values less than 1.0 indicate higher growth potential), and an EV-to-EBITDA ratio of just 3.6. The business also exited September with nearly $210 million in cash.
Those metrics are all pretty cheap, but they could get even cheaper if the BTC for 2018 is retroactively reinstated. If that occurs, then Renewable Energy Group estimates it will receive an additional $179 million in profit for biodiesel output from the first nine months of 2018. Similar scenarios have played out in the past (the company recorded a $205 million profit in the first quarter of 2018 when the prior year's subsidy was retroactively reinstated). If it happens again, then this energy stock is trading at around four times future earnings. That's absurdly cheap by any standard.
Image source: Getty Images.
Todd Campbell(Allergan):Allergan is knee deep in arestructuringthat's eliminating debt and positioning it to offset the risk of slowing sales tied to patent expiration on key drugs.
The company's progress so far is encouraging, but investors aren't convinced yet that the Botox maker is out of the woods, and as a result, its shares are arguably trading at bargain-basement levels.
Patent expirations are putting about 12% of the company's sales at risk between now and 2020, but management believes growth by other drugs can offset any decline in sales caused by patent losses, especially if the FDA cooperates with approvals next year. Allergan expects to file Vraylar, an existing schizophrenia drug, for use in major depression soon. Meanwhile, applications for ubrogepant in acute migraine and abicipar in age-related macular degeneration are on deck in 2019.
Importantly, the tens of billions in debt Allergan got saddled with when it combined with Actavis is becoming less burdensome. Because it has sold off assets and used its cash flow to reduce its obligations, its interest expense is falling. Last quarter, current and long-term debt and leases fell to $23.6 billion from $30.1 billion one year ago, and as a result, its interest expense was $220 million in Q3, down from $265 million last year.
Research and selling, general, and administrative expenses have also fallen in the past year, and that cost cutting, plus share buybacks that have reduced its share count, allowed its non-GAAP income per share to grow 2.4% year over year to $4.25 last quarter despite revenue slipping 3% in the period.
Overall, Allergan thinks it can deliver 5% compound annual sales growth through 2022, and I expect its earnings will increase faster than that because of its debt and cost reductions. If I'm right, buying shares when the company's price-to-book ratio, or market cap divided by total assets minus total liabilities, is near all-time lows at just 0.74 could be profitable.
Image source: Getty Images.
Travis Hoium(General Motors):There isn't a lot of love on the stock market for automakers these days. Some investors don't like how capital intensive the business is, others think it's going to be disrupted by upstarts likeTesla, and others don't like the growth and profit profile of the business. But I think General Motors, with its $50.7 billion market cap, is absurdly cheap given the way the company is positioned in the auto market.
GM's core business is traditional auto manufacturing with a heavy focus on trucks and SUVs. But it's the future that I'm most excited about. GM was an early electric vehicle manufacturer and launched the cost-effective Chevy Bolt before the Tesla Model 3 was launched (Model 3 now sells in much higher volume). In autonomous vehicles, GM owns Cruise Automation, a leader in self-driving technology, which just raised $2.25 billion from SoftBank's Vision Fund at an $11.5 billion valuation. The company intends to launch a self-driving ride-sharing service next year and could sell technology to other automakers, among many other strategic options. Strategically, GM is in great shape.
Even if we look at existing operations, GM is expected to earn an adjusted $6.27 per share this year, putting the stock's P/E ratio at just 5.7 times. A low P/E ratio, strong position in EVs, and a self-driving technology business that could beworth tens of billions if it IPOsin the next few years are just what I want to see in an auto stock today.
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Maxx Chatskohas no position in any of the stocks mentioned.Todd Campbellowns shares of Tesla.Travis Hoiumhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has adisclosure policy. || Major Indian Bitcoin Exchange Zebpay Shuts Down Due to Banking Freeze: Zebpay, one of India’s biggest cryptocurrency exchanges, has announced the shuttering of all exchange services on Friday following the central bank’s banking ban on the crypto industry.
Launch in 2015, Zebpay started trading with an app-only service that quickly became one of India’s most-downloaded bitcoin wallet and exchange apps. With a know your customer (KYC) model, Zebpay struck half a million downloads on Android – the country’s most-popular smartphone platform – in mid-2017 and quickly doubled tohit a million app downloadsduring 2017’s bear run in October.
The companyforecastedup to half a million new users joining the platform every month at the time, up from 200,000 new users already joining the platform.
On its website, Zebpay indicates it has 3 million users using its iOS and Android apps, with support for 20 cryptocurrencies and 22 trading pairs.
Rumored to be in talks to raise anadditional $4 millionin funding at one stage, Zebpay is now stopping all exchange services at 1600 local time on Friday. The move is a direct consequence ofa crippling policyintroduced by the Reserve Bank of India (RBI), India’s central bank, to force all regulated financial institutions – including banks – from offering services to the domestic cryptocurrency industry.
In anannouncement, Zebpay said:
The curb on bank accounts has crippled our, and our customer’s, ability to transact business meaningfully. At this point, we are unable to find a reasonable way to conduct the cryptocurrency exchange business.
All unexecuted crypto-to-crypto orders will be canceled, Zebpay added, with all tokens to be credited back to customers’ wallets. The wallet service “will continue to work” for customers to deposit and withdraw their coins, the company said. However, it remains to be seen if wallet gains development support in the future.
In late June, Zebpay warned that fiat withdrawals could becomeimpossibleahead of the looming banking ban that took effect on July 5, 2018. A day before the banking freeze, the companystoppedall fiat deposits and withdrawals at the exchange. Other exchanges, meanwhile, are finding novel ways tocircumvent the ban.
Calls to Zebpay’s representatives went unanswered at press time.
Featured image from Shutterstock.
The postMajor Indian Bitcoin Exchange Zebpay Shuts Down Due to Banking Freezeappeared first onCCN. || US Military’s DARPA Program Hops on the ‘Blockchain Not Bitcoin’ Bandwagon: TheDefense Advanced Research Projects Agency(DARPA) is seeking to get a better understanding of permissionless blockchains, but Bitcoin does not appear to be invited to the party.
To achieve this enhanced insight into blockchain technology, the US Department of Defense agency hassent outa request for information (RFI) on permissionless distributed consensus protocols, specifically touching on aspects that have been inadequately explored.
One area DARPA is seeking to get a better handle of is how permissionless blockchains can function in the absence of monetary incentives. With permissionless distributed protocols such asBitcoinoffering compensation to participants (miners) in the form of newly-created coins for their work in adding blocks and ensuring the security of the network, DARPA is interested in alternative methods that can be employed.
For the agency, it is mandatory that these techniques do not offer participants incentives in monetary form, cryptocurrency or otherwise. However, other transfers of value can be considered, such as offering participants access to computing resources.
From the RFI, DARPA is also seeking deeper insight into the idea that participants in permissionless distributed protocols behave with their economic interests at heart. In this regard, the DoD agency is interested in “methods that leverage rigorous economic notions to advance theories of security for distributed, permissionless computation protocols.”
Additionally, DARPA is also seeking the means by which the unintended or intended centralization of a distributed consensus protocol can be analyzed and/or addressed. This is in recognition of the fact that permissionless distributed protocols may have certain aspects which are centralized and this may impact the security of the protocol, regardless of the theoretical guarantees.
According to DARPA, the information provided by responders could potentially inform a future program of the agency:
“For the purpose of this RFI, DARPA is solely interested in permissionless distributed consensus protocols … While there is a substantial amount of publically and privately supported research and development in distributed consensus protocols, DARPA seeks information along several, less-explored avenues of permissionless distributed consensus protocols. Such information could help inform a future DARPA program.”
Despite being a military agency which maintains a high level of secrecy in certain projects, this is not the first time that DARPA has publicly demonstrated interest in blockchain technology. Two years ago, CCNreportedthat DARPA was working on a communications platform where messages would be transferred on a secure decentralized protocol.
At the time, DARPA indicated that the messaging platform would be used in conveying troop movements, especially in denied communication environments. As the DoD agency said at the time, such a blockchain messaging system would need to be resilient during cyber-attacks, possess self-destruct features for messages, and be capable of providing deniability or repudiation, if and when necessary.
Featured Image from Shutterstock
The postUS Military’s DARPA Program Hops on the ‘Blockchain Not Bitcoin’ Bandwagonappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
Current BTC Price: $ 6,399.45. The 24H Change is -0.04%,
24H Volume is $ 16,061,048.0 and the current marketcap is $ 111.00 B. #BTC #Ticker #CryptoTickerPro || 09-29 05:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000022
HitBTC :0.00000022
LiveCoin:0.00000020
$SPD (JPY)
Yobit :0.16
HitBTC :0.16
LiveCoin:0.14 || Reading news here can get free BTC, I have used it for a while. Come and give it a try, LOL https://t.co/jWrtaO7QW7 || 最も安くBTC/JPYを買えるのは？(2018-11-07 15:00:02 現在)
Zaif 721020.0
bitFlyer 734325.0
bitbank 734459.0
coincheck 734989.0
Liquid 735355.0 || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : 0.41 % || 07-11-2018 23:00
Price in #USD : 0.1487421624 || Price in #EUR : 0.1300494373
New Price in #Bitcoin #BTC : 0.00002280 || #Coin Rank 638 || https://t.co/qV9danx04D Mutlu Haftalar Diler.
#felixoexchange #felixoacademy #icomarket #bitcoin #ethereum #ripple #btc #eth #xrp #bch #ltc #trx #man #pavo #modl #usd #try #blockchain #ico #exchange #cryptocurrency #trader #investing #finance #economy #globalexchange #felixo https://t.co/ARtzSyuIq8 || Trade Now With Raisex Exchange BTC Pair Bitcoin Card
https://t.co/4aHHw4f7ja || #LIZA #LAMBO price
10-09 16:00(GMT)
$LIZA
BTC :0.00000
ETH :0.00000
USD :0.0
RUR :0.0
JPY(btc) :0.0
JPY(eth) :0.0
$LAMBO
BTC :0.021
ETH :0.650
USD :110.0
RUR :10000.0
JPY(btc) :14948.6
JPY(eth) :16672.5 || 2018/11/19 23:00
BTC 580497.5円
ETH 17320.2円
ETC 713.6円
BCH 28473.4円
XRP 53.4円
XEM 9.4円
LSK 197.8円
MONA 118.1円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || W środę 14 listopada o godzinie 19:00 zapraszam na darmowy webinar o stosowaniu liczb i współczynników Fibonacciego na rynkach kryptowalut. Część 1/3
Link do zapisu:
https://webinarybitbay.subscribemenow.com
#BitBay #Bitcoin #Altcoin #Kryptowaluty #Webinar #Edukacja #Tradingpic.twitter.com/ZOnrmlaApC
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Trend: down || Prices: 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Horizons US$100 mln crypto hack prompts FBI investigation: The Federal Bureau of Investigation (FBI) and multiple cybersecurity companies have started investigating the US$100 million hack on Harmony Protocols Horizon cross-chain bridge. See related article: Axie Infinity hack proceeds continue to be laundered despite US sanctions Fast facts Harmony Protocol announced it was attacked on Friday morning Asia time , adding it had alerted exchanges of the suspects blockchain wallet address and halted the Horizon bridge. The Horizon bridge allows users to transfer cryptocurrencies and assets from Harmonys layer 1 blockchain to Ethereum, BNB Chain and Bitcoin. Harmony Protocol said the exploit did not impact the trustless Bitcoin bridge, where assets are stored in decentralized vaults. The theft may have taken place due to a compromised private key, PeckShield the blockchain security firm tapped by Harmony chief executive officer Xuxian Jiang reportedly told Bloomberg . The hack on Harmony follows a string of attacks against blockchain bridges like Wormhole and the Ronin Bridge. See related article: Perpetrator of South Koreas Bitcoin-gate untraceable || How rock-bottom interest rates are doing more harm than good: How rock-bottom interest rates are doing more harm than good - Tom Shiel for The Telegraph The line was delivered with the kind of menacing sneer debaters reserve for a knock-out rhetorical blow. During their heated exchanges on managing the economy in their television debate on Monday, July 25, the former Chancellor Rishi Sunak looked across at his opponent to become Prime Minister, Liz Truss, and demanded to know whether she was aware of what mortgage rates are in the United States. “C’mon, what are they,” he heckled while Truss remained stony-faced. If she were to admit that rates had almost doubled over the last six months, which as it happens they have, he clearly felt it would be fatal to her economic plans. The economy could not possibly be entrusted to someone that reckless. But hold on. Is that really true? We have lived in a world of near-zero interest rates for 14 years now. We have become so used to them, we hardly even discuss them anymore. And yet, it now appears they are finally coming to an end as central banks around the world start to grapple with soaring inflation. In the US, the Federal Reserve this week increased rates by 0.75 percentage points , its fourth consecutive rise, and its benchmark lending rate is now at 2.5pc. The Bank of England is steadily raising rates and will no doubt do so again in August. Even the European Central Bank (ECB) has finally, although belatedly, joined the party, with a 0.5 percentage points increase, its first increase after a decade with rates that were actually negative . Perhaps, as Sunak clearly believes, that will be a catastrophe for the global economy, plunging households and companies into bankruptcy, and we must do everything possible to keep cheap money flowing forever. And yet, it is also possible that zero rates were always an illusion, and one that ended up doing more harm than good. Ultra cheap money created a bitter generational divide as soaring house prices made it impossible for younger people to get on the property ladder ; it created legions of zombie companies that were kept barely alive on easy credit; it encouraged feckless spending by governments that thought the bills would never fall due; it created an explosion of debt and fuelled asset-price bubbles; and it destroyed the incentive to save. Story continues True, free money might have helped rescue the economy in the wake of the financial crisis of 2008 and 2009. But one day interest rates will have to get back to normal – and now is the moment. “By any historical measure, interest rates have been exceptionally low for the last 14 years,” says Nicholas Crafts, emeritus professor at Warwick University and an expert in British economic history. “Even in the [worldwide depression of the] 1930s they did not go below 2pc, and even that was only for a few years. And yet, over that time, growth and productivity and investment have also been very weak.” The zero-rate era has lasted far longer than anyone originally thought possible. Rewind to 2008, with banks around the world crashing, and with the financial system in turmoil, and central banks around the world slashed rates to 300-year lows. From 5pc before the crisis, by March 2009 the Bank of England had taken rates all the way down to just 0.5pc, the lowest level since it was founded in 1694, in an effort to boost the economy. At the same time, it launched the first round of what was then a new-fangled strategy called “quantitative easing” , a polite term for what used to be known as printing money. It was sold as a short-term crisis measure to prevent a re-run of the Great Depression. Once everything was back to normal, interest rates would be raised again. But the return to normal never arrived. Instead, rates remained close to zero for the next decade, and were then cut again, all the way down to 0.1pc in the UK, to cope with the Covid-19 pandemic. In some countries, such as Sweden and Switzerland, and the eurozone, rates even went below zero. In a through-the-looking-glass financial twist, you actually had to pay the bank to look after your money for you. Nothing like that had ever happened in financial history before. No one denies the strategy helped the global economy recover from the crash of 2008. After a steep initial fall in output, most developed countries bounced back fairly quickly. The trouble was, as the years went by, financial and asset markets became more and more distorted. Like opioids, zero rates may have been effective in an emergency – but they quickly became addictive and potentially fatal as well. Take housing, to start with. As mortgage rates fell, debt loads became easier and easier to service for anyone who already owned a property, sending prices soaring upwards, and locking a whole generation out of the market. From £157,000 in 2009, by last year the price of the average British house had risen to £273,000 even though real wages were broadly stagnant in real terms over those years. Across the UK, the average deposit needed to buy your first home rose above £50,000 by last year and above £70,000 in London. Without help from their parents , those were unimaginable sums for most under-30s, even if they were in well-paid jobs. Not very surprisingly, the rate of home ownership, which had been rising through all the post-war period, and accelerated in the era of Mrs Thatcher’s home-owning democracy, went into reverse. From 73pc when rates went to zero, it dropped all the way down to 65pc. Even more alarmingly, ownership levels plunged among younger people. The Office for National Statistics found recently that a third of 25 to 44-year-olds are now renting from private landlords compared with fewer than one in ten 20 years earlier. Sure, perhaps the millennials were spending too much on their smashed avocado brunches and chai lattes to save up for that deposit. And, sure, we don’t build enough homes. But there was no getting away from the real problem. Artificially low interest rates inflated a property bubble that rewarded the old who already owned their houses and punished anyone younger who had not yet got their first foot on the ladder. Next, take a look at what happened to the corporate sector. Normally when there is a crash, as in 2008, lots of firms go bust. It is tough on staff and suppliers, and even tougher on the shareholders, but it is part of a process during which the commercial ecosystem renews itself, clears out the deadwood, and comes back healthier than before. A few major retailers disappeared over a decade ago – the much-missed Woolworths, for example – but most businesses have simply staggered on. They are known as zombies: companies that just about bring in enough money to cover the interest bills (not especially hard when you are only paying half a percent), but are incapable of growth and have little left over for investment. How many zombies are out there? According to the think tank Onward, one in five British companies now rank among the living dead. Put them all together, and they are tying up huge amounts of capital, land and labour, resources that could all be put to work more productively among faster growing businesses. True, our departure from the European Union has hardly helped. But investment rates in the UK have been dismal since rates were slashed to zero, as they have been across most of the developed world. A coincidence? To some degree. But there can be little question that keeping money artificially cheap has meant the economy is cluttered up with too many poorly performing companies. In the meantime, governments have borrowed more and more. In the UK, the debt to GDP ratio stood at less than 50pc before the crash. It carried on rising even during the supposed “austerity” of the Cameron-Osborne era, and then shot up again during the pandemic. By last year that had almost doubled to 94pc, its highest level since the 1960s when we were still paying for the cost of the Second World War. It is even worse elsewhere. In the US, the debt ratio went from 65pc to 135pc over the same period. If it is measured on a global scale, including government, corporate and global debt, the amount the world owes has never been higher. By last year, according to IMF calculations, total global debt had hit $226 trillion, or 256pc of global output, more than 50 percentage points higher than it was before rates were slashed to almost nothing. And heck, why not? With money so cheap, it made sense to borrow as much of it as you could. If that money had been used by companies to invest in new factories, warehouses or products that would be fine. And yet there was very little evidence of that. Instead, much of it was used by a rapacious private equity industry that took over companies such as the supermarket chain Morrisons, and venture capital firms puffing up technology businesses to absurd valuations based on little more than some slick PowerPoint presentations and smart-looking apps. None of that added very much to the productive potential of the economy, nor did it do anything to lift growth. Instead, assets were shuffled from place to place, making the fund managers rich, but leaving the companies they owned withered and emasculated. Typically, the private equity funds starve the companies they buy of investment, load them up with debt, and squeeze every last penny out of them to fuel short-term profits. At the same time, the power of central banks has grown and grown. From faceless technocrats charged with nothing more than keeping inflation under control and stabilising the financial system, they have acquired rock-star status as they have flooded the world with money. In this country, Mark Carney, the little-missed predecessor to Andrew Bailey, seemed to spend most of his time lecturing anyone who could stay awake about sustainability, diversity and climate change. In the eurozone, Christine Lagarde, the impeccably politically correct president of the ECB, seems to spend more time worrying about global warming than how to rescue Italy from permanent recession. Christine Lagarde Eurozone - REUTERS/Wolfgang Rattay The power of the financial markets has also rocketed, with the rise of ever flimsier so-called assets. When rates were slashed to zero, the first Bitcoin had yet to be released (it made its debut on January 9, 2009, in case anyone is wondering). You could pick one up for a tenth of a cent. In 2021, one was worth more than $60,000. There are dozens of other cryptocurrencies that have been launched since then, from Litecoin to Ethereum, to the basically satirical Dogecoin, launched first as a parody of the whole craze, but which then became an asset in its own right. And why not? When real money has gone bonkers, and is being given away for nothing, why not create completely imaginary currencies? There may be some solid arguments for purely electronic currencies, but it is hardly a surprise that their rise coincided with the zero interest rate era, nor is it terribly surprising that, as rates start to return to normal, their prices are collapsing again. Crypto might have been the most extreme example, but there was also the craze for NFTs , digital artworks and collectibles, and extreme valuations for any kind of technology stock. Wall Street’s Nasdaq index, home to most of the major tech businesses, grew eight-fold over the zero-rate era as all the cheap money flooded into fashionable assets. Sure, some of those were genuinely brilliant companies, such as Amazon or Apple, but many more were hyped-up apps making huge losses and with little to recommend them. It was all part of the era of financial froth. Indeed, many of the architects of the policy of near-zero rates appear to regret the monster they unleashed back in 2008 and 2009. “This ratcheting up of central-bank balance sheets and government balance sheets, I think, is a real problem for the future,” said the former Bank Governor Lord Mervyn King in a lecture last year, a startling admission for a man who presided over the first dramatic cuts in rates. In its wake, “zombie companies” were being supported by low borrowing costs and needed to be “allowed to fail” to help a more efficient allocation of resources as the economy adapted to a post-pandemic world. “People have failed to recognise that the problem is one that can’t just be solved by even lower interest rates or even more fiscal stimulus,” he argued. Likewise, Ben Bernanke, the Fed chairman who cut American rates to close to zero, said as early as 2015 that he never expected them to stay so low for so long. Of course, as interest rates start to finally rise again there may well be a rough couple of years ahead. It could well trigger a house price crash , or at least a correction, spelling political death for whichever party is unlucky enough to be in power when it happens (however, it is worth remembering that 83pc of UK mortgages are now on fixed rates, although admittedly a lot of them are quite short-term, so it may not be as dramatic as sometimes feared). A fair number of those zombie companies may well go bust when the cost of the bank loans starts to rise again, and corporate debt is typically a lot more short-term so that impact will be very sudden. The huge increases in government debt will start to get a lot more expensive to service ; we saw a £10bn rise in the UK’s Government’s interest bill last month and that will get a lot worse in the year ahead. Even more seriously, it may trigger a financial crash as banks and hedge funds lose access to cheap money. “The key is finding a balance between addressing inflation and triggering a dangerous liquidity crisis,” says Dr Riu Xie of the University of Bath, who has just published a report on the issue. “The risk is that ever-tighter monetary policy and interest rate hikes taken in very large steps will increase funding costs for financial institutions, and generate a liquidity crisis, which will increase the risk of global recession.” Very true. No one would argue that steadily raising interest rates will be an easy path. And we may never get back to the 7pc to 10pc levels that anyone who bought their first property in the 1980s or 1990s will painfully remember. Prof Crafts argues that interest rates may be permanently lower than in the past, but, and this is the important caveat, not close to zero. And yet, looking back on the last 14 years, this was surely an experiment that failed, not just in this country but around the world. Shutting a generation out of the property market, creating a legion of zombie companies, inflating asset bubbles, and creating a debt-fuelled economy kept afloat on a tidal wave of cheap and printed money was hardly a great achievement. Nor has it done much for growth, equality, opportunity, or investment. Rishi Sunak may think that rising interest rates are too terrifying to even contemplate. And yet he is surely wrong about that, as about so much else. || Amazon and Others Continue a Tradition Like No Other: While every analyst with an Excel spreadsheet was demanding that they pay dividends, cloud czars Amazon (NASDAQ: AMZN ) and Alphabet (NASDAQ: GOOGL ) held firm. It’s a tech tradition like no other. Tech companies husband cash when times are good so they can keep growing when times are tough. The joke is, “Dividends mean we don’t have anything better to do with the shareholders’ money.” You can see it in Amazon’s first quarter report. Free cash flow was negative $18.1 billion for the 12 months ending in March. Yet Amazon had $15 billion in capital spending during the quarter. This was possible because it had over $66 billion in cash and marketable securities on its books at the end of the period. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ticker Company Recent Price AMZN Amazon $116.26 AMZN Stock and the Miracle of Cash For generations before the cloud, companies borrowed money to fund long-term investment. Some tech companies still do, even cloud companies. Consider a data center REIT like Equinix (NASDAQ: EQIX ), whose structure requires it pay out profits as dividends. Equinix had $14.7 billion in long-term debt on its books at the end of March, against $1.7 billion in cash. It sent out nearly $290 million to shareholders in the form of dividends during the quarter, $3.10 per share. 7 Best Bargain Stocks to Buy in July 2022 But that cash is now in the hands of investors, not Equinix’ management. It was only able to grow revenue 8% from the first quarter of 2021 to the first quarter of 2022. It’s the same story for Equinix’ rival, Digital Realty Trust (NYSE: DLR ). Digital Realty had just $158 million in cash at the end of March. It had just $2.5 billion in capital spending during 2021. That’s a tiny fraction of what Amazon spends. Even Equinix is less generous to shareholders than old-line companies like AT&T (NYSE: T ). It ended March with $174 billion in debt. While its market cap is $151 billion, its enterprise value may be twice that. But most of AT&T is controlled by bondholders. Before the cloud, AT&T had the biggest capital spending budget in the world to keep the nation’s phone lines running. Last year it spent $17.4 billion , not just less than Amazon, but less than Alphabet and Microsoft (NASDAQ: MSFT ) as well. Story continues The Miracle of the Cloud Tech’s miracle of cash is also its miracle of cloud. Companies funded by debt, whether tech companies like AT&T or oil companies like Exxon Mobil (NYSE: XOM ), may wait years for a return on the investment. The return of capital matches the length of the debt. In the cloud, returns come much faster. AWS, which is Amazon’s cloud unit, had revenue of $65 billion over the last 12 months, 37% more than in the previous year. But that cloud also handles the rest of Amazon’s operations, its store, its logistics, and its media. All those units would have had their growth curtailed, or reversed, without the growth of AWS, which reported one-third of revenue as net income during the last quarter. The Bottom Line If you’re just looking at the stock charts it seems ridiculous that Amazon still sells at 55 times earnings. But history, and cash, say it’s not. By that standard, Microsoft is a bargain at 28 times earnings and Google is a steal at 21. The reason is cash. The cloud is powered by cash, which can quickly turn to profit once it’s deployed. Big cash balances let the cloud czars continue to invest even when business, and cash flow, turn down. This sets them up for profitable growth down the road. Cloud investors have a choice. They can get their money back quickly through dividends by buying a data center REIT like Equinix or Digital Realty Trust. Or they can keep their cash working with the czars. I’m staying with the czars. On the date of publication, Dana Blankenhorn held long positions in AMZN, GOOGL and MSFT. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Dana Blankenhorn has been a financial and technology journalist since 1978. He is the author of Technology’s Big Bang: Yesterday, Today and Tomorrow with Moore’s Law , available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com , tweet him at @danablankenhorn , or subscribe to his Substack . More From InvestorPlace $200 Oil Sooner Than You Think – Buy This Now The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post Amazon and Others Continue a Tradition Like No Other appeared first on InvestorPlace . || Elon Musk says hes still buying dogecoin after 90% price crash: Dogecoin is trading at yearly lows in June 2022 after its price crashed by more than 90 per cent from its peak (Getty Images) Elon Musk has revealed that he is still buying dogecoin despite the meme-inspired cryptocurrency losing more than 90 per cent of its value over the last 13 months. The price of dogecoin saw a brief surge following the billionaires comments on Sunday evening, though any gains were again wiped out within a few hours. I will keep supporting dogecoin, he tweeted , before confirming to one of his followers that he will keep buying it. The worlds richest person has been a vocal advocate of dogecoin in recent years, claiming that it is one of only three cryptocurrencies that he has personally invested in, alongside bitcoin (BTC) and Ethereum (ETH). As the head of Tesla , he has also made it possible to purchase some products using the cryptocurrency , having blocked bitcoin payments due to environmental concerns. Speaking to Time magazine last year, Mr Musk claimed that dogecoin was more suitable as a mainstream currency compared to bitcoin, as it does not have a fixed supply. Even though it was created as a silly joke, dogecoin is actually better suited for transactions, he said. It is slightly inflationary... but thats actually good as it encourages people to spend rather than to hoard it as a store of value. Mr Musk, who made his first fortune as the co-founder of the online payments giant PayPal, has also previously proclaimed himself as the CEO of dogecoin. I am Elon Musk (@elonmusk) June 19, 2022 The record-breaking price rally in 2020 and 2021 was partly attributed to comments made by Mr Musk, particularly in the build-up to his appearance as the host of Saturday Night Live in May 2021, when he was expected to hype up the cryptocurrency to millions of viewers. After reaching close to $0.70 in the build-up to the show, it subsequently crashed spectacularly and is currently trading below $0.06. Most of Mr Musks previous projections for dogecoin and the cryptocurrency space more generally have been long term, once quipping that a Mars economy will run on crypto. Story continues In a 2021 Q&A session on the app Clubhouse, he said: Fate loves irony... The most entertaining outcome is often the most likely and arguably the most entertaining outcome, and most ironic outcome, would be that dogecoin becomes the currency of Earth in the future. Following his latest comments, dogecoin co-founder Billy Markus thanked the tech billionaire for his support. Youve always been earnest about supporting the coin for what i consider the right reasons you find it amusing, appreciate the satire and irony, and you think it has potential as a currency and your companies accept it for merch, giving it more utility, he tweeted. || Bitcoin (BTC) Fear & Greed Index Slips Ahead of US Retail Sales: Key Insights: Bitcoin (BTC) rose by 1.71% on Thursday to consolidate the Wednesday 4.77% rally. The breakout session came despite an acceleration in US wholesale inflationary pressure that left the NASDAQ 100 flat for the session. The Bitcoin Fear & Greed Index fell from 18/100 to 15/100, with investors now looking ahead to US retail sales figures due today. On Thursday, bitcoin ( BTC ) rose by 1.71%. Following a 4.77% rally on Wednesday, BTC ended the day at $20,577. A mixed session saw BTC slide to a low of $19,620 in response to US wholesale inflation and weekly jobless claims numbers before making a move. Steering clear of the First Major Support Level at $19,342, BTC struck a high of $20,870. BTC broke through the First Major Resistance Level at $20,698 before easing back. Fed Governor Christopher Waller delivered the much-needed support by supporting a 75-basis point rate hike. While tracking the NASDAQ 100, BTC outperformed, with the US equity markets grappling with corporate earnings. On Wednesday, the NASDAQ 100 rose by 0.03%. BTC-NASDAQ 150722 5 Minute Chart At the time of writing, the NASDAQ 100 Mini was up 61.5 points. Bitcoin Fear & Greed Index Slipped ahead of US Retail Sales Data This morning, the Fear & Greed Index slipped from 18/100 to 15/100, reversing the Thursday increase. The downside came despite bitcoin finding support, with uncertainty ahead of the US retail sales figures weighing. Fear & Greed 150722 A likely shift in the regulatory landscape, the threat of a US recession, and uncertainty over Fed monetary policy also continue to test investor sentiment. The bulls will be looking for a return to the Fear zone to signal an end to the crypto winter. Todays retail sales figures from the US will likely dictate direction over the near term. Upbeat numbers would bring sub-10/100 levels into play to pressure BTC and the broader crypto market. Bitcoin (BTC) Price Action At the time of writing, BTC was down 0.68% to $20,438. A range-bound start to the day saw BTC rise to an early high of $20,587 before falling to a low of $20,434. Story continues BTCUSD 150722 Daily Chart Technical Indicators BTC needs to avoid the $20,353 pivot to target the First Major Resistance Level (R1) at $21,092. BTC would need a bullish session to support a breakout from the Thursday high of $20,870. An extended rally would test the Second Major Resistance Level (R2) at $21,603 and resistance at $22,000. The Third Major Resistance Level (R3) sits at $22,856. A fall through the pivot would bring the First Major Support Level (S1) at $19,842 into play. Barring an extended sell-off, the Second Major Support Level (S2) at $19,108 should limit the downside. The Third Major Support Level (S3) sits at $17,856. BTCUSD 150722 Hourly Chart Looking at the EMAs and the 4-hourly candlestick chart (below), it was a bearish signal. This morning, bitcoin sat below the 100-day EMA, currently at $20,590. The 50-day EMA narrowed to the 100-day EMA, with the 100-day EMA flattening in on the 200-day EMA; bitcoin price positive. A further narrowing of the 50-day EMA to the 100-day EMA would bring $21,000 into play. The bulls will look for a breakout from the 100-day EMA and R1 to target R2 and the 200-day EMA, currently at $21,950. BTCUSD 150722 4 Hourly Chart On a trend analysis basis, bitcoin would need a move through a May 30 high of $32,503 to target the March 28 high of $48,192. Near-term, resistance at $25,000 will likely be the first test should the upward trend resume. For the bears, the June 18 low of $17,601 would be the next target. BTCUSD 150722 Daily Trend Analysis This article was originally posted on FX Empire More From FXEMPIRE: Husqvarnas Q2 operating profit falls in line with expectations Chinese property shares slide despite Beijing assurance on mortgage protests Sri Lankas Rajapaksa quits; We are the real power says protester Sri Lanka parliament speaker accepts Rajapaksas resignation Assa Abloy postpones Spectrum home improvement business acquisition again G20 talks overshadowed by Ukraine war as host Indonesia seeks consensus || First Mover Asia: Bitcoin Rebounds Past $20K; China’s Blockchain Revolution Is Missing On-Chain Data: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Good morning. Here’s what’s happening: Prices: Bitcoin gains ground, hovering just above $20K. Insights: China's blockchain revolution may not be so revolutionary. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sign up for First Mover , our daily newsletter putting the latest moves in crypto markets in context. Prices Bitcoin ( BTC ): $20,244 +5% Ether ( ETH ): $1,152 +7.3% Biggest Gainers Asset Ticker Returns DACS Sector Avalanche AVAX +3.7% Smart Contract Platform Decentraland MANA +3.5% Entertainment Solana SOL +1.3% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Terra LUNA −3.3% Smart Contract Platform Stellar XLM −0.9% Smart Contract Platform XRP XRP −0.3% Currency Bitcoin Gains Ground but Lingers Under $20K On a day of fireworks and bombast in the U.S., crypto had a little to celebrate as well. Bitcoin crept back over the $20,000 threshold that has been a psychological observation point since the start of the summer for investors gauging the length of the current bear market. The largest cryptocurrency by market capitalization was recently trading at about $20,300, up 5% over the past 24 hours. Bitcoin plummeted below $19,000 at one point last week before regaining ground during a Friday rally. Ether rose even more in Monday trading along with several other major altcoins as investors seemed more receptive to risk. The second-largest cryptocurrency by market cap was changing hands at more than $1,150, a nearly 8% gain over the previous day. Among other major cryptos, SOL and SAND jumped more than 9% and 8%, respectively. Still, the crypto Fear & Greed Index remained wedged in extreme fear territory as the industry absorbed its latest body blows, and analysts remained downcast about prices for at least the near-term, short of convincing evidence that inflation is under control and the global economy will not fall into recession. Bitcoin and ether are off more than 5% and 6% from their highs early last week, and most other cryptos are also well in the red over the same period. Story continues "Bitcoin has been under even pressure for almost all last week," FxPro Senior Market Analyst Alex Kuptsikevich wrote in an email. "A brief bounce at the beginning of the day on July 1 was more likely due to emotional excitement from the start of a new period (month, quarter, half-year) rather than fundamental changes in the situation." Ether price weakness ETH’s price weakness continues as The Merge, which will see the network change from a proof-of-work to proof-of-stake protocol, fast approaches. Trading was light as the U.S. celebrated its Independence Day. U.S. equity markets were closed in observance of the holiday, but European indexes were up with the Stoxx Europe 600 rising 0.5% on Monday. To be sure, Binance CEO Changpeng Zhao recently called the crypto winter a good time to buy bitcoin for investors who can wait for the next bull market. And a survey from Mastercard (MA) reported that over 51% of Latin Americans made at least one transaction with cryptocurrencies between March and April of this year. But industry-wide cascade of bad news continued with crypto hedge fund Three Arrows Capital filing for bankruptcy late Friday after weeks of speculation that it was functionally insolvent; American-Israeli crypto lender, Celsuis, laying off some 150 employees over the weekend as it battles a financial crisis that saw it halt customer withdrawals last month; crypto lending platform CoinLoan limiting the size of withdrawals; and another crypto lender, Singapore-based Vauld, suspending all withdrawals, trading and deposits on its platform as it looks at restructuring options. Troubled economic backdrop Kuptsikevich noted the troubled economic backdrop that is likely to continue bedeviling crypto markets. "The global picture remains bearish as stock markets show no glimpses of tightening financial conditions by central banks," Kuptsikevich wrote. "On the weekly charts, BTCUSD remains below the 200-week average, having failed a timid attempt to climb higher last week." Markets S&P 500: 3,825 +1% DJIA: 31,097 +1% Nasdaq: 11,127 +0.9% Gold: $1,808 +.02% Insights China's Blockchain Revolution May Be Falling Short Blockchain technology is a national priority for Beijing, having been name-checked in 2019 by People’s Republic of China President Xi Jinping as an important opportunity that needs to be seized, and mentioned as a key technological pillar of China’s five-year policy plan in 2021. “We must take the blockchain as an important breakthrough for independent innovation of core technologies,” Xi has been quoted as saying, outlining the government’s policy to integrate the technology into the IT fabric of the bureaucracy at large. And with this came the Blockchain Service Network (BSN), a state-backed infrastructure program that would allow enterprise developers to assemble and develop code to build blockchain-based applications with relative ease. Of course, this isn’t real blockchain per se. It’s a neutered version of that called " permissioned blockchain ." No corporation or government, in China or elsewhere, wants their key data to be in a decentralized state they can’t control. As the South China Morning Post reported last week, China is home to nearly 1,800 blockchain services companies that purport to be integrated into most parts of the economy and bureaucracy. Companies are unconvinced There’s a problem, though: Outside of China, companies have realized that enterprise blockchain is pretty useless. As CoinDesk reported in early 2021, IBM (IBM), which is effectively synonymous with enterprise computing, has dismantled its blockchain team . Shortly after, Microsoft (MSFT) discontinued its Blockchain service on Azure cloud. The U.S. Food and Drug Administration, which once touted blockchain as part of a "smarter era of food safety," has abandoned the initiative . Technology market research firm Gartner noted in its hype cycle forecast for 2021 that “successful permissioned enterprise blockchain projects are scarce.” While things like decentralized finance, payments, and tokenization all have some appeal, Gartner said, enterprise blockchain is stuck because “most users are stuck trying to align use cases to the technology.” “The value of permissioned blockchain is hard to understand since it does not implement the most revolutionary aspect of public blockchains – i.e., trust minimization and elimination of central authority, achieved via decentralized consensus,” Gartner wrote in another post on the topic. Incentives In China’s case, companies are doubling down on blockchain because of the many incentives available , such as a $140 million subsidy fund in Guangzhou – the actual utility of the technology be damned. If the government thinks the technology will help its economic ambitions and wants to throw money at it, companies will happily oblige and play along. This is especially true if they can leverage this with investors to juice a funding round. At one time, China was home to nearly 35,000 blockchain companies, according to publicly available corporate registration data. Of course many were firms jumping in by adding blockchain to their name to access development subsidies, as well as out-and-out frauds. That number, according to SCMP’s report, is down to around 1,800, so the herd has been thinned. Still, it's questionable what exactly these 1,800 companies are doing. On-chain data is key to verifying any claims involving blockchain. But with these permissioned chains, it's impossible to use a block explorer to inspect the data and verify claims of data volume, something that’s a central tenant for the “ trust machine ” that is blockchain. Important events 8:30 a.m. HKT/SGT(12:30 a.m. UTC): Jibun Bank Services PMI (June) 9:45 a.m. HKT/SGT(UTC): Caixin (China) Services PMI (June) CoinDesk TV In case you missed it, here is the most recent episode of "All About Bitcoin" on CoinDesk TV : Genesis Exposure to 3AC, Caitlin Long on Crypto Industry Blowups In one of the biggest scams in crypto history, the Commodity Futures Trading Commission (CFTC) is charging South African bitcoin club Mirror Trading International with $1.7 billion fraud. CoinDesk's Managing Editor for News Danny Nelson shared insights into this story. Plus, Caitlin Long of Custodia Bank discussed crypto regulations and Nick Mancini of Trade The Chain provided market analysis. Headlines Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities: As Three Arrows Capital collapsed under market pressure, its much-lesser known trading desk, TPS Capital, remained active, sources say. But a complex ownership structure might frustrate creditors' efforts to collect. Crypto Lender Celsius Cuts 150 Jobs Amid Restructuring: Report: Withdrawals are still paused and the company has hired restructuring experts as it faces a financial crisis. Bitcoin Recovers to Over $19K; Nomura Warns of US, UK Recession: Nomura warned of a recession in the eurozone, U.K. and Asia Pacific, which could influence crypto prices. Longer reads LTCM and Other History Lessons for Crypto: From Long-Term Capital Management to the 2008 financial crisis, crypto's recent woes have echoes in the past, says CoinDesk's chief content officer. Other voices: Bitcoin Prices Struggle Below $20,000. Why Tuesday Could Bring a Bigger Move. (Barron's) Said and heard "The Vauld management wishes to inform that we are facing financial challenges despite our best efforts. This is due to a combination of circumstances such as the volatile market conditions, the financial difficulties of our key business partners inevitably affecting us, and the current market climate..." ( Vauld trading platform/blog ) ... "We are introducing a temporary measure – a reduction of the account withdrawal limit – in order to balance the flows of funds and prevent liquidity-related interruptions. Please note that this is only a precaution, as the current level of liquidity meets our users’ needs. This temporary restriction applies to the total amount of daily withdrawals per account: every user can withdraw up to $5,000 per 24-hour rolling period." ( CoinLoan crypto lending platform/blog ) || Crypto exchange FTX has "a few billion" to support industry - Bankman-Fried: By John McCrank and Megan Davies (Reuters) - Sam Bankman-Fried, head of one of the largest cryptocurrency exchanges, FTX, said he and his company still have a "few billion" on hand to shore up struggling firms that could further destabilize the digital asset industry, but that the worst of the liquidity crunch has likely passed. Bankman-Fried, 30, who is from California but lives in the Bahamas where FTX is based, has become crypto's white knight in recent weeks, throwing lifelines to digital asset platforms which have faltered as cryptocurrencies prices have cratered. Bitcoin is down around 70% from its all-time November high of nearly $69,000. "We're starting to get a few more companies reaching out to us," Bankman-Fried said in an interview. Those firms are generally not in dire situations, though some smaller crypto exchanges may still fail, he said, adding that the industry has moved beyond "other big shoes that have to drop." Bankman-Fried's crypto-trading firm, Alameda Research, gave crypto-lender Voyager Digital a $200 million cash and stablecoin revolving credit facility, and a facility of bitcoin, as the company faced losses from exposure to crypto hedge fund Three Arrows Capital. On Wednesday, Voyager filed for bankruptcy. Also in June, FTX handed U.S. cryptocurrency lender BlockFi a $250 million revolving credit facility and on Friday announced a deal giving FTX the right to purchase it based on certain performance triggers. The goal of the bailouts was to protect customer assets and stop contagion from ricocheting through the system, Bankman-Fried said. "Having trust with consumers that things will work as advertised is incredibly important and if broken is incredibly hard to get back," he said. In January, FTX unveiled FTX Ventures, a $2 billion venture capital fund focused on digital asset investments, which it has since drawn on to help bail out firms that are lacking liquidity, but not assets. Story continues "It does get increasingly expensive with each one of these," Bankman-Fried said, adding that the firm still had enough cash on hand to do a $2 billion deal if necessary. "If all that mattered was one single event, we could get above a couple billion," he said, stressing that isn't his preference. On one or two occasions, Bankman-Fried, who made billions arbitraging cryptocurrency prices in Asia beginning in 2017, said he has used his own cash to backstop failing crypto companies when it didn't make sense for FTX to do so. "FTX has shareholders and we have a duty to do reasonable things by them and I certainly feel more comfortable incinerating my own money," he said. Bankman-Fried also in May revealed he had personally taken a 7.6% stake in Robinhood Markets Inc, capitalizing on the trading app's weakened share price. Forbes pegged Bankman-Fried’s net worth this year at around $24 billion, but Bloomberg’s Billionaires Index in May said that figure has been cut in half due to the crypto crash. CRYPTO WINTER As the U.S. Federal Reserve has begun aggressively hiking rates to combat hyperinflation, investors have fled the crypto markets. The crash in cryptocurrency prices, referred to as "crypto winter," may have bottomed, as prices have stabilized, but it will largely depend on the macro-economic situation, said Bankman-Fried, a 2014 graduate of the Massachusetts Institute of Technology. "I don't think it's an existential threat to the industry, but I do think it is a fair bit worse that I would have anticipated," Bankman-Fried said. Bankman-Fried started his career in finance at quantitative trading firm Jane Street, then founded crypto trading firm Alameda Research and in 2019 set up FTX, which was valued in January at $32 billion. He has said he plans to give away 99% of his wealth, and that he could spend up to $100 million supporting candidates in the 2024 election cycle, focusing on issues like pandemic prevention and bipartisanship. While rival crypto exchanges face layoffs after earlier hiring sprees, FTX has around 300 employees, and Crunchbase pegs Alameda’s staff at fewer than 50. "Every quarter this year, I expect our workforce to be bigger than the previous quarter, but we're trying not to grow insanely quickly," he said. (Reporting by John McCrank and Megan Davies in New York; additional reporting by Hannah Lang in Washington; Editing by Chizu Nomiyama) || Stock Market Today: Stocks Resume Rally on Strong Earnings, Economic Data: green and white arrows going up Getty Images The major market indexes ran higher right from the start on Wednesday – and never looked back. Helping boost investor sentiment were a pair of economic reports that indicated the U.S. economy is still growing. Data from the Institute for Supply Management this morning showed business activity in the services sector hit a three-month high of 56.7% in July. SEE MORE Are We in a Recession? Here's What the Experts Say "The ISM services index not only defied the consensus expectation for a decline, but rose by the most in five months in July," says Wells Fargo senior economist Tim Quinlan. "A jump in new orders bodes well for coming demand, and an array of measures suggests supply chain pressures continue to ease." A separate report showed factory orders were up 2% month-over-month in June, more than economists were expecting. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. A heavy dose of well-received corporate earnings reports added to the bullish buzz. Among the day's big post-earnings winners were drugmaker Moderna ( MRNA , +16.0%) and fintechs PayPal Holdings ( PYPL , +9.3%) and SoFi Technologies ( SOFI , +28.4%). SEE MORE The 15 Best Growth Stocks to Buy for the Rest of 2022 Technology was the best-performing sector today, surging 2.7%. As such, the tech-heavy Nasdaq Composite outpaced its peers, rising 2.6% to 12,668. Still, the S&P 500 Index (+1.6% at 4,155) and Dow Jones Industrial Average (+1.3% at 32,812) posted solid gains. It was the first win this week for all three indexes. stock price chart 080322 YCharts Other news in the stock market today: The small-cap Russell 2000 spiked 1.4% to 1,908. U.S. crude futures plummeted 4% to finish at $90.66 per barrel after the Energy Information Administration posted a surprise rise in U.S. crude and gasoline inventories. Gold futures snapped their five-day winning streak, shedding 0.7% to end at $1,776.40 an ounce. Bitcoin rose 2.2% to $23,462.92. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) Robinhood Markets ( HOOD ) jumped 11.7% today after the financial services platform said it was slashing its global workforce by roughly 23%, with most of the layoffs occurring in the operations, marketing and program management divisions. CEO Vlad Tenev said the cuts come amid a "deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash." The company also reported a slimmer-than-expected per-share loss of 34 cents in its second quarter, while revenue of $318 million came in above the consensus estimate. While the layoffs are the headline of the report, says Mizuho Securities analyst Dan Dolev (Buy), the fundamentals show more positives than negatives – including higher quarter-over-quarter sales and average revenue per user. "We believe that once the market digests the 'shock' from the layoff's sheer size, investors will shift focus to fundamentals and path to profitability, which may even result in the stock trading higher tomorrow," Dolev adds. Not all of today's earnings reactions were positive. Match Group ( MTCH ) tumbled 17.6% after the online dating app provider reported lower-than-anticipated revenue of $795 million for its second quarter. The company also gave weak current-quarter revenue guidance and said Tinder CEO Renate Nyborg is leaving. Still, Jefferies analyst Brent Thill maintained a Buy rating on MTCH stock. "In our view, third-quarter revenue guidance is likely conservative to account for potential disruptions," Thill says. "We believe the new [Match Group] CEO Bernard Kim's heightened focused on faster product innovation, an expedited Hinge international rollout and improving monetization at Tinder will be key catalysts for driving accelerating revenue growth in fiscal 2023." Story continues Don't Give Up on Bonds Just Yet Long live the 60-40 portfolio! So says Douglas Beath, global investment strategist for Wells Fargo Investment Institute. Many pundits have declared the traditional portfolio structure – which dictates you allocate 60% to stocks and 40% to bonds – as obsolete following a more than 16% decline in both the S&P 500 and the Bloomberg U.S. Aggregate Bond Index in the first half of 2022. SEE MORE Income-Investing Picks for a Recession But Beath says that while "this year in capital markets is unusual," such calls are "greatly exaggerated," and in fact the 60-40 portfolio "will continue to be an effective strategy for investors." The strategist points to historical returns of bonds, which have provided a "significant hedge" during periods of market volatility, as well as attractive valuations following the recent downturn. And this is why the model is alive and well and continues "to serve as a solid foundation for long-term investors." While investing in individual bonds is impractical for most retail investors, bond funds and bond ETFs allow them to gain exposure to fixed-income assets. Here, we've compiled a list of the 10 bond funds to buy now that cover a wide variety of categories and create diversification for income investors. Karee Venema was long HOOD as of this writing. SEE MORE 12 Best Monthly Dividend Stocks and Funds for the Rest of 2022 You may also like Amazon Ending a Key Perk for Amazon Prime Customers Your Guide to Roth Conversions The Inflation Reduction Act and Taxes: What You Should Know View comments || Shiba Inu and Dogecoin Join Market Rally With a 7.14% and 6% Rise: • Dogecoin rose to $0.067, albeit marking a smaller rally than many of its competitors.
• Shiba Inu joined the leading altcoins rising by 12.42% at the time of writing.
• The crypto market inched closer to the $1 Trillion market cap.
The leaders of the meme coin market,Dogecoin, andShiba Inu, were bound to witness gains when the rest of the market entered recovery.
Supported byBitcoinandEthereumas well, the totalcryptomarket capitalization shot up to $988 billion at the time of writing, making it possible to close above $1 Trillion over the next 24 hours.
The meme coin king is one of the few altcoins not to make the most of the active rally, as Dogecoin only increased by 6.76% in the previous 24 hours. The altcoin has not been particularly volatile when it comes to price action over the past few days as DOGE is fixated on making a slow recovery.
While it does protect the coin from major price falls, it also restricts the room for growth, leaving the crypto vulnerable to higher falls than rises.
This is why at the moment, when most of the altcoins have almost recovered their June losses, DOGE isn’t even halfway there. Trading at $0.067, DOGE needs support from the market to recover the nearly 40% drop, which it does not have at the moment.
The Parabolic SAR is still highlighting an active downtrend with the white dots of the indicator present above the candlesticks.
Secondly, the Relative Strength Index (RSI) is also yet to enter the bullish zone as it still lingers at or below the neutral mark. If the rally persists for a few more days, DOGE will note some bullishness on these indicators or else go back down.
SHIB had a relatively successful day when compared to Dogecoin, as the meme coin shot up by 12.42% in the span of 24 hours, bringing the three-week-long rally to 56.83%.
In doing so, SHIB also recovered the entirety of the losses it witnessed during June’s almost 37% crash. Trading at $0.00001166, SHIB is still bullish on the charts, with price indicators flashing further rise for the crypto.
The Bollinger Bands could be seen diverging at the time of writing, highlighting rising volatility. But with the presence of the candlestick above the basis of the indicator, any price swing SHIB witnesses will be in favor of a rise and not a fall.
Furthermore, the MACD managed not to lose its bullish crossover that it almost did a few days ago and the presence of the green bar provides hope to investors that SHIB is yet to note the full strength of this rally.
If the rise continues, SHIB will soon close above the next critical resistance of $0.0000125, giving it the boost it needs to rally further.
Thisarticlewas originally posted on FX Empire
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• Chile’s Codelco keeps Rajo Inca construction halted after fatal accident || Can Cryptocurrency Work As An Inflation Hedge?: Boston, Massachusetts --News Direct-- Wealthramp Many investments that had performed well in the past years are not thriving this year. We are experiencing high levels of inflation that haven't happened in years. You may or may not have invested in crypto, which has tanked 70% since the end of last year. Is crypto an effective inflation hedge? Should you buy it at a low price? As an investor, you look for places to put your money to earn money for yourself. The return on investment you’re likely to get depends on your risk tolerance. If you’ve invested in the stock market, you’ve seen your balance drop recently, and you might be wondering if it's time to test the cryptocurrency waters. In today’s inflationary environment, you’re looking for smart ways to mitigate the effects of this economic downturn. Read on to learn more about Bitcoin, Ethereum, stablecoins, and cryptocurrency-related exchange-traded funds (ETFs); their value as an inflation hedge; and if they are appropriate for your portfolio. It might be time to find a fiduciary financial advisor with crypto expertise for advice. Traditional Inflation Hedges And Crypto Inflation simply means a dollar today is going to be worth less in the future. During high inflation, people try to buy things that are in a limited quantity, such as commodities and land. Certain stocks — bank stocks and defensive stocks like consumer staples and healthcare — tend to do well when the Fed raises interest rates; others — like utility stocks — often suffer. Crypto is also available in a limited quantity. One initial hope for cryptocurrencies was that they might not follow the stock market’s ups and downs, becoming a place to flee from a stock bear market. We’ve seen so far that crypto seems to move in lockstep with the broader market. However, many crypto natives tout its benefits as a hedge against inflation. Cryptocurrency As an Inflation Hedge Bitcoin and Ethereum are the first cryptocurrencies, and they’ve been joined by 19,000 more varieties and growing. Bitcoin, the original cryptocurrency and the largest by market capitalization, was created with inflation in the back of the creator’s mind. The total supply of Bitcoin is capped at 21 million coins, which will probably be reached in 2140. When the final number of coins is reached, no more will be minted. Theoretically, the consistently low inflation rate and large market cap inherent in its design make Bitcoin a favorable currency to hedge against inflation. Story continues Ethereum is also designed to be deflationary. Even though its network still creates Ether tokens, it burns or destroys them regularly to shrink the supply. A 2% annual decline is expected, meaning the coin should become scarce over time, acting as an inflation hedge. Other cryptocurrencies display varying degrees of scarcity and deflationary properties. Are cryptocurrencies immune from inflation? As yet, crypto has not proven to be a more effective inflation hedge than stocks. “Traditionally, investments which have the ability to pass on rising costs to consumers have proven to be good inflation hedges,” says Jeffrey George, CFA, CEPA, a financial advisor with deep experience in crypto investing on Wealthramp, a free advisor matching platform. “As cryptocurrencies do not inherently produce a cashflow (staking is more like collateralized lending), their ability to act as an inflation hedge is entirely based on investor demand. In that sense, they’re probably better characterized as a hedge against fears of a rapid decline in the value of the dollar as opposed to above-average inflation rates. It’s a fine line, but there is a difference – you can have one without the other.” Connecting with a fiduciary financial advisor such as those vetted by Wealthramp , can be a way to reduce the risk of investing in crypto. Is Bitcoin the New Gold? Gold has been an investor go-to during times of high inflation. Some digital currency experts dub Bitcoin “digital gold” because, like gold, it is in limited supply. Traditional wisdom has held that gold — and land — function as inflation hedges because of scarcity, and, therefore, Bitcoin will too. The comparison is not unwarranted, but a fundamental difference — that you can possess the physical reality of gold or land in a way you can’t with a computer-generated digital asset — weakens the argument. Cryptocurrencies are intangible and exist only on the internet. In 2022, it’s not certain whether Bitcoin will prove to be the gold-like inflation hedge its promoters consider it to be. However, owners of Bitcoin when it touched $68,990.90 a coin in November 2021, might disagree. Even after its recent drop in the price of over 70%, its supporters remain convinced that the digital currency market will rebound. Setting the Record Straight on Earning Interest from Crypto When you read about earning 12% interest anywhere, you’re intrigued because the term “interest” may connote there is no risk. Your bank, Certificate of Deposit (CD), I Bond, and money market account pays you interest without the risk of losing principal. If you buy a $1,000 CD, you know for sure you’ll get that $1,000 — your principal — back, plus the agreed-upon interest-less fees, if any. It’s not risky. When you engage in financial transactions like that, you are saving — as opposed to investing, which carries some risk that you might not get all of your principal back. When you use a crypto platform to earn interest, you don’t have the guarantee that you’ll get your principal back. You probably will, but you might not. That’s investing for a return, not saving for an interest payment. Risks of Cryptocurrency Investment You Need to Know Crypto investment can take different forms, including direct purchase of coins, stablecoin conversions, and earning interest. Buying crypto outright is one way to invest, but the recent 70%+ drop as crypto entered a roaring bear market has given most investors pause. If you’re not sure about jumping in on your own, an experienced fiduciary financial advisor with crypto expertise on Wealthramp can help. The right fiduciary financial advisor can help you rethink about how you should diversify your portfolio . If you dipped a toe in the crypto waters and are suffering frostbite from the current crypto winter, it might be time to warm up to an advisor who can help. They can review your portfolio and work with you to figure out if you should invest in crypto as part of your portfolio now, given its low price, and if so, how to do it in a way that matches your risk tolerance. A good financial advisor will talk to you about your financial goals and investment strategies and help you create a plan. Stablecoins Are Not the Same As Dollars Stablecoins are another seductive investment, promising interest rates in the double digits, far above that you can earn at a bank. Stablecoins are digital assets that are designed to maintain a stable value relative to a national currency or other reference assets. A stablecoin is a cryptocurrency whose value is tied to another asset to attempt to reduce volatility and increase safety. Confidence in stablecoins can be undermined because of its reserve assets that could fall in price or become illiquid. Sometimes redemption attempts fail, as when the Celsius network refused to return deposits to account holders. Cryptocurrency is not a silver bullet to hedge inflation, and stablecoins are not risk-free. Beware Crypto Sales Narratives from Promoters Crypto sales narratives can be misleading. Before you listen to advice on crypto or other financial matters, ask if the writer is a promoter or real expert. Determine their background and motivations and make sure their aim is to build investors’ confidence in crypto. In perhaps no other financial sector is it more important today to have a fiduciary financial advisor who is looking out for you. A new financial opportunity like digital currency hasn’t been around long enough for regulators to work out the kinks, so you’re less protected than with other long-available investment opportunities. If you’re interested in crypto investments, Wealthramp can help you find an advisor who knows the ins and outs and who will guide you on a safer, more positive crypto investment journey and dynamic investing strategies. Carry On, Keep Calm — Crypto Investment Works Best With A Trusted Financial Advisor Crypto has not been proven to be an effective inflation hedge. It’s a new investment vehicle you may want to consider as part of your portfolio, but it’s no magic bullet. With its high risks, rampant scams, and confusing narratives, it’s important to consult with an expert who acts in your best interests rather than invest in crypto on your own. Whether you are considering investing in crypto or need help creating a new strategy for today’s down markets and high inflation economy, consider working with an experienced fiduciary financial advisor — like the ones Wealthramp can match you with — who can help you look at the overall picture of your specific needs, financial goals, and risk tolerance and partner with you to create a plan with effective investment strategies. A fiduciary advisor is legally required to provide you with advice that is in your best interests. Pam Krueger is the founder and CEO of Wealthramp, a free adviser-matching platform that connects people with rigorously vetted and qualified fee-only financial advisers. She is also the creator and co-host of MoneyTrack on PBS and Friends Talk Money podcast for PBS Next Avenue. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Wealthramp is a fintech company with a mission to connect people to the right fee-only advisor who will help them meet their financial goals throughout their life. We are the only advisor matching platform that doesn’t sell consumers’ information or share without their permission. Every advisor invited to join our network is personally vetted by Founder & CEO Pam Krueger, who has decades of experience in the investment industry and media educating people to never settle for an advisor who doesn’t exceed their expectations. Unlike brokers who sell products and earn commissions, the independent fiduciary CFPs, CFAs and CPAs at Wealthramp are legally held to acting solely in clients’ best interests and have the expertise and characteristics essential to build a relationship with a client that lasts generations. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details Wealthramp Louis Grant +1 902-412-8644 louis@wealthramp.com Company Website https://wealthramp.com/ View source version on newsdirect.com: https://newsdirect.com/news/can-cryptocurrency-work-as-an-inflation-hedge-488050354
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 24136.97, 23883.29, 23336.00, 23212.74, 20877.55, 21166.06, 21534.12, 21398.91, 21528.09, 21395.02
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-11-22]
BTC Price: 56289.29, BTC RSI: 38.72
Gold Price: 1806.00, Gold RSI: 46.12
Oil Price: 76.75, Oil RSI: 39.46
[Random Sample of News (last 60 days)]
Hyperion Releases the Second-Generation Derivatives to Benefit from the Global Economic Uncertainties: Hyperion's Easy Smart Leverage Product
Singapore, Singapore--(Newsfile Corp. - November 12, 2021) - Recently, Hyperion has developed a new type of smart leverage product for investors of digital asset market with profound experience and sound technology in traditional finance. Hyperion's Easy Smart Leverage Product is featured by simplicity, high yield, and high win rate, and is committed to enriching the variety of financial products in the digital asset ecosystem, meeting diversified market needs, and providing a new paradigm for the future development of the cryptocurrency derivatives.
In terms of a product for amateur and new users, the product should be easy to get started with, has no liquidation risks, and brings users with high returns. Hyperion's Easy Smart Leverage Product can meet all the requirements above. Developed by Hyperion team, born from the rich experience in traditional financial market and robust technology, Hyperion's Easy Smart Leverage Product is a new-generation financial derivatives that caters all the market needs. Hyperion's Easy Smart Leverage Product is simple enough that users can easily get started without learning profound knowledge about finance. With its low threshold for entry and 0 fees, Hyperion's Easy Smart Leverage Product is recommended for every newbie. By offering the market dynamics of the mainstream cryptocurrencies such as BTC and ETH, users can achieve three-fold/five-fold/ten-fold of return on their investment within 1 day/5 days/10 days. All the market data are from Deribit, a third-party exchange, and is totally open and transparent.
The rule is simple, and there are no complicated financial concepts. Traders only need to choose to bull or bear the market and to see if the target price is suitable for trading. With high yields and no liquidation risks, traders will always hold in hand a trump card. Meanwhile, Hyperion will not charge any fees from traders during the purchase and settlement. People can buy the product 24/7 and don't need to worry about missing any chances to realize the financial freedom.
As for the win rate of Hyperion's Easy Smart Leverage Product, it is possible that the coin price will reach its target price. Here is the brief view of the following data:
Hyperion's BTC BULL-3X-1Day Product
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/7987/103226_e4e8e80464e59922_001full.jpg
Binance's American Option of BTC Call for 1Day
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/7987/103226_e4e8e80464e59922_002full.jpg
Data collected at November 3
[{"Hyperion's Easy Smart Leverage Product": "spot price of BTC/USD:63,057", "Binance's American Style Option": "spot price of BTC/USDT:63,029"}, {"Hyperion's Easy Smart Leverage Product": "Targe price of BTC BULL-3X-1Day: 65,423", "Binance's American Style Option": "Premium price of longed 1-day BTC call option: 16,055"}, {"Hyperion's Easy Smart Leverage Product": "Spread between target price and spot price: 3.75%", "Binance's American Style Option": "the spread between breakeven and spot price: 25.47%"}]
Apparently, traders ofBTC-BULL-3X-1DayonHyperionwill only have to wait for the BTC price to rise up by 3.75% in 24 hours to get the profit. But traders of1-day BTC call optioncan barely earn the cost until the BTC price climbs by 25.47% in 24 hours, the traders can make profit only when the BTC price rises by more than 25.47%.
ROI: Hyperion VS Binance
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/7987/103226_e4e8e80464e59922_003full.jpg
By comparison, it can been seen that Hyperion's Easy Smart Leverage Product is more competitive. According to the historical moves, BTC is highly possible to realize an intraday fluctuations of 3-4 pips, making a higher win rate. For the real-time quote from Hyperion's Easy Smart Leverage Product, please visithyperionhtt.com
In order to make money by Hyperion's Easy Smart Leverage Product, users can use Hyperion's Easy Smart Leverage Product to:
1.Win 300%/500%/1000% of the buying in a short term2.Hedge against risks of positions with high leverage
For the first case, to get a more stable and higher returns, traders can use the Kelly formula to arrange the amount of each buy-in. According to the Kelly formula, the optimal ratio of each order is (Loss rate * Win rate - 1) / ( Loss rate -1), where the loss rate is the leverage multiple used in the Hyperion's Easy Smart Leverage Product. To manage the position ratio, traders only need to predict the win rate. For example, suppose William predict the win rate of a 3x product is 60%, he can set the ratio into (3 * 60% - 1) / (3 - 1) = 40%.
For the second case, based on the liquidation line of the futures position, traders can open an opposite position of Hyperion's Easy Smart Leverage Product with the target price closest to the liquidation line, and the buy-in amount is based on liquidation loss/multiple. If the coin price moves to the contrary side and causes the liquidation of the futures position, users can close the Hyperion's Easy Smart Leverage Product, which was purchased at a low cost, to get the equivalent compensation of the liquidation.
Hyperion Team
Hyperion's Easy Smart Leverage Product, with competitive target price, innovative and user-friendly features, and high returns, is due to the masterpiece of Hyperion team. The team comes from the traditional financial field, and its core members Antonie Lemay, Thomas Lacombe, and Jocelyn Chou used to work in large global financial institutions such as Merrill Lynch, Citibank, and J.P. Morgan. The team has rich experience in derivatives trading, high-frequency algorithms, risk management and technology.
Hyperion is a platform that provides a new type of smart leveraged financial derivatives in crypto market. With profound experience in high-frequency trading and derivatives in the traditional financial field, Hyperion team has designed an extremely simple financial product for users in crypto market to experience trading in an unprecedented way! Hyperion aims to enable financial technology to create value in crypto world and to drive product innovation based on the market demand. Hyperion has the following technical advantages to help maximize the security of people's assets.
To offer the best target price quotes and help users to seize for every investment opportunity, under the premise of strict risk neutrality, Hyperion uses sophisticated mathematical models and financial techniques to model the volatility of digital assets based on stochastic differential equations, Fourier Transforms, Bayesian Methods, Kalman Filters and other theoretical foundations. Hyperion's low-latency trading technology and mathematical models allow investors to trade and hedge under any possible market conditions, gaining excess hedging revenue, minimizing transaction costs, receiving better quotes and having an unprecedented experience on cryptocurrency trading.
1. Quoting
Complicated mathematical and financial tools are used in the pricing modeling, such as Kalman Filter, partial differential equation and stochastic processes. Hyperion is strictly market neutral, to ensure its clients the highest return and the maximum chance to win.
1. Dynamic Hedging
Every product people bought has been perfectly hedged. Hyperion monitors different exchanges, discovers mispricing opportunities and captures them to get better trades. By using the leading algorithm, Hyperion can minimize its hedging cost and thus earn excess returns from these so called arbitrage trades. This means Hyperion can offer its clients a better chance to make more money.
1. Risk Management
Risk Management is the first priority. Hyperion builds risk management matrix to control market risk, credit risk, operational risk and liquidity risk on both time and space dimensions. Based on the Increased Quality of Capital Funding, Basel III Compliance capital management system and countercyclical capital buffer mechanism, Hyperion provide its clients with highest level of safety.
Hyperion aims to enable financial technology to create value in the digital asset world and to drive product innovation based on the market demand. Hyperion is committed to being the world-leading company in the innovation of digital asset's financial products.
Media contactContact: AlbaCompany Name: HyperionWebsite:https://www.hyperiontest.com/Email:business@hyperionhtt.com
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/103226 || Crypto regulation is ‘matter of urgency’, says Bank of England: After the Bank of England (BoE) Deputy Governor Sam Woods warned tougher new rules for preventing British banks from building up extensive exposure to crypto assets were needed, senior BoE official Jon Cunliffe has now called for rapid regulation of cryptocurrencies. Cunliffe labelled the whole cryptocurrency sector a “financial stability concern”. “Risks in these areas are not the direct responsibility of financial stability authorities and do not normally pose risks to the financial system as a whole,” he warned. “But they can be a trigger for destabilising market corrections.” At the annual banking and financial conference SIBOS , Cunliffe reiterated Woods’ words about the rules, which would require banks to hold capital in reserve equal to their Bitcoin exposure, to act as a prevention for the majority of lenders from participating in the crypto space. “Regulators internationally and in many jurisdictions have begun the work – it needs to be pursued as a matter of urgency,” said Cunliffe before adding that it may not seem like a huge jump since the global financial system is worth approximately $250tn. However, he then pointed to the 2008 financial crash, saying it was generated by the subprime market which had a far smaller market capitalisation than crypto. Regulation needed for governments to manage crypto Cryptoassets have grown by approximately 200% in 2021, from just under $800bn to $2.3tn today. Cunliffe admittedly said that crypto assets “offer a prospect of radical improvements in financial services”, but cautioned that the “bulk of these assets have no intrinsic value and are vulnerable to major price corrections”. “When something in the financial system is growing very fast, and growing in largely unregulated space, financial stability authorities have to sit up and take notice,” he cautioned. Even though the BoE’s Financial Policy Committee (FPC) recently declared that cryptocurrencies “pose limited risk to UK financial stability”, in its last report, the IMF also cautioned that while the risks posed by crypto are “not yet systemic”, the situation should be “closely monitored” by governments. Story continues The IMF also added that governments have, as of yet, only introduced “inadequate operational and regulatory frameworks” to manage digital assets. Charles Kerrigan, a FinTech partner with the law firm CMS said Cunliffe was right about his warnings to urgently fix this issue and make regulators catch up with technological innovation in the crypto space. “Innovation in crypto is the fruit of years of work by some of the most talented engineers on the planet,” Kerrigan noted . “The industry is not by and large against regulation. But this technological revolution won’t wait for the regulators.” || Mark Cuban invests in crypto wallet Blocto: Blocto, the NFT and crypto wallet has confirmed that the Dallas Mavericks owner and serial investor Mark Cuban has invested in the company. With @nbatopshot available on @BloctoApp & BloctoBay, we're thrilled to announce @dallasmavs owner Mark Cuban as our investor and advisor. @mcuban is a blockchain enthusiast and an insightful investor who believed in our mission in making blockchain simple for everyone. pic.twitter.com/A7gTuBNaEL — Blocto – Discover Blockchain Apps (@BloctoApp) November 11, 2021 Blocto’s previous backers include Animoca Brands, Alameda research, 500 Startup, Olive Tree Capital, AppWorks, Animal Ventures and CMS Holdings. Cuban has been a crypto advocate for quite some time and his investment in a wallet is, therefore, unsurprising. Recently he admitted he owned $500 worth of Dogecoin and that his investment increased to $1,500 as of October. He also owns Bitcoin and other altcoins like Ether. In a recent podcast, he said he had a “fair share of Bitcoin”, but that he was more of an “Ethereum maxi”. Blocto is a cross-chain smart contract wallet with a seamless user experience. Users can easily access dApps, crypto, and NFT assets, no matter which blockchain they are built on; developers can integrate with Blocto SDK service and create a frictionless onboarding experience for their users. The wallet recently launched its NFT marketplace BloctoBay, where NBA Top Shot were made available to trade and store in the Blocto wallet. Blocto users have also grown steadily with 70% month-over-month user growth over the past 10 months during the year 2021. Story continues Hsuan Lee, CEO of portto – Blocto’s owners – said the company was happy to be having “such a diverse group of partners believing in our mission in making blockchain simple for everyone”. “Our phenomenal growth in 2021 has showcased the growing need for an easy-to-use entrance for all things related to blockchain, and we will use this funding to expand our offerings and reach out to a wider range of user,” he said. Blocto also added it intended to continue leveraging its products – BloctoSwap, the first DEX on the Flow blockchain, and BloctoBay, the native NFT marketplace to improve the current product offerings. || Morgan Stanley doubled down on its bitcoin exposure by buying into the Grayscale Trust: filing: • A Morgan Stanley fund owned 58,116 Grayscale shares worth $2.018 million by July 31, according to a SEC filing Monday.
• In April, the same fund owned 28,298 shares worth $1.3 million.
• "I like the idea here that you can bet small, win big," Morgan Stanley's Dennis Lynch said on crypto last week.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Investment bank Morgan Stanley has been gradually ramping up its involvement in the cryptocurrency market this year, and recently doubled down on its bitcoin exposure via the Grayscale Bitcoin Trust (GBTC), according to a SEC filingMonday.
The Morgan Stanley Europe Opportunity Fund owned 58,116 GBTC shares worth $2.018 million as of July 31, according to a filing on Monday. Prior to that, the fund owned 28,298 sharesworth$1.3 million as of April 30.
The Grayscale Bitcoin Trust issues shares that are solely tied to bitcoin and its market value.
Dennis Lynch, who heads Morgan Stanley's asset management subsidiary Counterpoint, which is unrelated to the Europe Opportunity Fund,spoke recentlyat the Morningstar annual investment conference at which he laid out why he's recently invested in bitcoin.
"I like the idea here that you can bet small, win big," Lynch said.
"I like to say that bitcoin is likeKenny from South Park, he dies every episode and comes back again," Lynch said. "And so ... you see in the newspaper, the media, that bitcoin's dead, it's over this time, and it just continues to persist."
Investment in cryptocurrencies has boomed this year and sent the prices of the major coins, including bitcoin, to record highs. Bitcoin, the largest by market value, currently trades around $41,000, having gained over 300% in the last 12 months alone. It is highly volatile, but has shown great resilience in the face of selling pressure.
Morgan Stanley is one of many major banks that is gradually increasing its exposure to the cryptocurrency market. JPMorgangaveits retail wealth clients access to crypto funds that included exposure to the Grayscale Bitcoin Trust in July this year.
The Grayscale Trust was established in 2013 and is now the largest public holder ofbitcoin. The trust has $28.2 billion in assets under management according to itswebsite. Its shares are currently trading around $34.18. They were valued at around $36 when Morgan Stanley's fund said it owned the new shares.
Read the original article onBusiness Insider || GLOBAL MARKETS-World stocks steady as inflation jitters ease: * Stocks steady as gains in Europe offset Asia weakness * Futures point to Wall Street bounce after tech rout * Brent crude hits fresh 3-year high after OPEC+ move * U.S. dollar regains strength ahead of payrolls test By Danilo Masoni MILAN, Oct 5 (Reuters) - World shares steadied near lows on Tuesday as worries that rising oil prices will feed inflationary pressures appeared to ease, while the dollar regained strength ahead of U.S. payrolls data on Friday seen as key to the Federal Reserve's next move. MSCI's gauge of global stocks slipped 0.04% by 1150 GMT but was off a more than three-month low hit during Asian trading. European stocks gained 0.8% as rising bank stocks and an encouraging earnings update from chipmaker Infineon calmed nerves following a tech-fuelled selloff on Monday. Wall Street was also set for a rebound with futures on the tech-heavy Nasdaq and the S&P 500 both up 0.5%. Asian shares fell for a third straight day, catching up with heavy losses in the United States, where investors dumped Big Tech as Facebook was hit by a nearly six-hour outage. Facebook's stock rose more than 1% in U.S. pre-market trade after its services came back online. But investors remained cautious, worrying that the rally in energy prices and supply chain disruptions could derail the economic recovery just as the U.S. Federal Reserve gets closer to reducing its massive stimulus. "More than anything else, we are concerned about the impact of stagflation on the general indices, which are very high," said Giuseppe Sersale, fund manager at Anthilia. "We prefer energy and materials, of course, and we're worried about stocks with high multiples that price who-knows-what increase in earnings (see Nasdaq)," he added. Banks, which tend to benefit from tighter monetary policy, were the strongest gainers in Europe, up more than 2%. JPMorgan analysts confirmed their overweight view on European lenders, citing the pick-up in inflation and expectations of higher bond yields. Story continues Oil prices in London hit fresh three-year highs, extending gains from the previous session that came after the world's major oil producers announced they had decided to keep a cap on crude supplies. OPEC+ confirmed on Monday it would stick to its current output policy https://www.reuters.com/business/energy/opec-seen-keeping-oil-output-policy-unchanged-opec-sources-say-2021-10-04 as demand for petroleum products rebounds, despite pressure from some countries for a bigger boost to production. Brent crude rose 1.3% to $82.31 a barrel, while U.S. oil added 1.2% to $78.51. "OPEC+ may inadvertently cause oil prices to surge even higher, adding to an energy crisis that primarily reflects very tight gas and coal markets," said Commonwealth Bank of Australia's commodities analyst Vivek Dhar. "That potentially threatens the global economic recovery, just as global oil demand growth is picking up as economies reopen on the back of rising vaccination rates," Dhar said. Market focus in Asia was on whether embattled property developer China Evergrande https://www.reuters.com/business/china-evergrande-share-trading-halted-hong-kong-2021-10-04 would offer any respite to investors looking for signs of asset disposals. Trading in shares in the world's largest indebted developer was halted on Monday but other Chinese property developers grappled with ratings downgrades on worries about their ability to repay debt. The U.S. dollar edged back towards a one-year high versus major peers ahead of a key payrolls report at the end of the week that could boost the case for the Fed to start tapering stimulus as soon as next month. "A positive number, which in this case would be somewhere in the region of 480,000 or above, will give the Fed the final reason it requires to initiate the tapering of its asset purchase program," said ActivTrades analyst Ricardo Evangelista. The dollar index, which tracks the greenback versus a basket of six currencies, was last up 0.1% at 93.9, while the euro fell 0.16% to $1.1602. Bitcoin rose above the $50,000 mark for the first time in four weeks, adding to a series of gains since the start of October. It was last up 1.6% on the day. Gains in the dollar depressed gold prices, which eased 0.7% to $1,757 per ounce, after rising on Monday to the highest since Sept. 23. U.S. bond yields nudged up towards recent highs amid caution about the need to raise the government's debt ceiling as the country faces the risk of a historic default in two weeks. Ten-year Treasury yields were up 1.7 basis points at 1.498%. (Reporting by Danilo Masoni and Anshuman Daga; Editing by Catherine Evans and Emelia Sithole-Matarise) || People who haven’t already bought devices for Christmas might not get them in time, chip boss warns: The PlayStation 5 has been perhaps the most high-profile gadget to be hit by chip shortages (Getty Images) People who haven’t yet bought devices such as PlayStations and smartphones might not get in them in time for Christmas, the boss of one of the world’s biggest chip makers has warned. The world is currently in the grips of “the most extreme” chip shortage that Simon Segars, chief executive of chip firm Arm , has ever seen, he told the Web Summit event in Lisbon. The difficulties getting hold of the processors that nowadays power everything from watches to cars mean that there might not be time to actually buy them in time for Christmas, he warned. ““If you haven’t bought all your devices yet, you might be disappointed,” he said, according to the BBC. “It has never been like this before.” And the issues could even remain for Christmas next year, Mr Segars said. At the moment, companies were waiting as long as 60 weeks for chips they had ordered to arrive. British company Arm designs chips that are used in devices from the smallest computer to the world’s most powerful one. Its technology is used in iPhones and many Android devices, as well as in other devices such as smart TVs. As with every other company involved in making processors, it has seen difficulties in its supply chain, which in turn have led to famous problems getting hold of the PlayStation 5 and other gadgets. Mr Segars said the shortage was the result of a range of factors – from increased demand for smart devices during lockdowns and an increase in cars, as well as supply problems such as coronavirus and ongoing geo-political tensions. Read More Bitcoin price steadies in ‘calm before the storm’ – follow live || Flooded with rewards points you’re not using? Bakkt’s got a digital wallet for them: America’s consumers are sitting on an incredible $1.6 trillion in digital assets that, even in the new digital economy, are effectively being held hostage. You usually can’t exchange them for cash or cryptocurrencies, and in most cases you can only liberate those dollars by buying more from the airline or store that issued you the credits for favoring their products. Of course, I’m talking about the baffling world of loyalty awards. But Bakkt Holdings , the startup that pioneered Bitcoin futures trading, is offering a digital wallet that collects, displays, and provides a marketplace for all of your points from restaurants, retailers—log in later for video games—and everywhere else you shop. Open the Bakkt app on your smartphone, and you’re entering an exchange that encompasses cash, cryptocurrencies, and loyalty points. Just a click will convert your Choice Hotels awards to cash for buying an Apple Watch, or trade your Wyndham Rewards for gift cards at TGI Fridays or PetSmart. On Oct. 18, Bakkt will go public on the NYSE via a SPAC sponsored by Chicago investment firm Victory Park Capital, at an expected valuation of around $2.1 billion. The offering will raise $447 million to grow the platform. Intercontinental Exchange (ICE), the trading colossus that owns the New York Stock Exchange and first launched Bakkt, will maintain a 66% stake, original backers Starbucks and Microsoft will remain shareholders and, as Bakkt CEO Gavin Michael puts it, “like ICE, take nothing off the table in the IPO.” Bakkt is targeting millennials and Gen Zers who increasingly embrace cryptocurrencies. Folks can trade their points to purchase Bitcoin at zero commissions on Bakkt’s proprietary exchange. They can zap the coins to a friend’s wallet as a thank-you for walking the dog. Or when your softball team gathers at the corner bar, you can reimburse the catcher paying for the beers by sending him Bitcoin instantaneously over the Bakkt network. It’s a snap to reload your Starbucks card with Bitcoin while waiting to order a latte. Story continues Put simply, the Bakkt wallet is the first product that assembles all of these assets on one broad platform, and aims to make them seamlessly exchangeable. It’s an extremely challenging venture. Many companies want to maintain their existing programs that reserve points exclusively or mostly for buying their electronics, groceries, car rentals, or home improvement staples. So far, it’s unclear how many companies will allow their points to be swapped for cash, or will let Bakkt wallet–holders trade their airline awards for, say, upgrades at hotel chains. And as with all exchanges, attracting a large volume of participants is crucial to making the model work. “We believe merchants can get far more benefit from their awards if they make them available for a broader range of purchases. Customers will appreciate those options, and value their brands a lot more,” says Michael, who before joining Bakkt served as head of technology at Citigroup’s Global Consumer Bank. Though it’s still early days, that pitch has attracted an impressive array of merchants that includes Choice and Wyndham hotels, Starbucks, Quiznos, and Best Buy , and Michael says a big airline may be joining soon. Bakkt’s evolution Today’s Bakkt aims at a far different clientele than at its start. ICE founded Bakkt in August of 2018 as a vehicle for ETFs, mutual funds, and large institutions to trade Bitcoin using its newly created platform on the ICE Futures U.S. exchange. Its first CEO was Kelly Loeffler, the former Georgia senator and longtime top executive at ICE who’s married to its founder and chief, Jeff Sprecher. But the signature cryptocurrency failed to become a big source of business for banks, or for the most part entice Wall Street to introduce Bitcoin funds. “We thought Bitcoin would go across the banking system and attract big asset managers, but it’s now bypassing the traditional networks,” Sprecher tells Fortune in an exclusive interview. Instead, it was the consumer and small investor who rallied to Bitcoin. Now, all of ICE’s Bitcoin trading goes through Bakkt. “The consumer uptake is part of the reason we gave Bakkt its own Bitcoin trading brand,” says Sprecher. He notes that when Bakkt wallet–holders buy or sell the coins, the transaction sprints over the Bakkt platform, avoiding the regular “distributed” network that’s extremely slow and expensive. Instead, when you hit “sell,” the trade happens, and you get the cash, just as instantly as on an ICE stock sale. When you send coins to another party as a gift, the Bitcoin likewise arrives in the recipient’s wallet at the warp speed of an equity trade. “Our proprietary network is much more efficient,” says Sprecher. “We can instantly convert digital assets to dollar equivalents and vice versa.” Bakkt recently clinched a deal with fintech Finastra that will enable customers at community banks and credit unions to buy and sell Bitcoin on the Bakkt platform. For Sprecher, the new Bakkt model’s a natural for merchants looking to better manage their balance sheets and build their brands, and a magnet for the new generation of digital shoppers. “These companies are holding points on their balance sheets as liabilities,” he says. “They want consumers to use those points in a way that keeps them attracted to the merchant. For their customers, the attraction is that you’ve got cryptocurrencies, fiat money, and rewards that are all tradable and all in the same wallet, for the first time.” Though Bakkt has shifted sharply from its original course, Sprecher’s foray into Bitcoin has already paid off big-time. In 2014, ICE bought a 1.4% stake in fledgling Coinbase for $10 million. “The trade was that we wanted knowledge to set us on the right path about cryptocurrencies, and they needed capital,” recalls Sprecher. “Coinbase held a number of educational sessions for us.” ICE sold its shares right after the Coinbase IPO in April for $1.23 billion, a windfall that raised its net income for the first half of 2021 by 90%. Sprecher calls the outcome “unbelievable, amazing!” A landmark in Bakkt’s quick turn to consumer-centered fintech was its purchase of Bridge2 Solutions early last year. Bridge2 was a major manager of corporate awards programs, serving 1,400 clients; now, that business is a pillar of Bakkt. Hence, it’s serving the universe of merchants that are potential clients for its platform. Bakkt is conducting a big experiment. It’s finding that merchants have differing goals for their rewards, and it’s designing a model that covers all of them, while at the same time attempting to demonstrate that by opening your points to a wide range of trading partners, merchants can heighten customers’ craving for the products that yield those rewards. Building loyalty The strategies that retailers, travel companies, banks, and the like deploy to maximize the value of their rewards fall into three main buckets. First, many merchants simply allow Bakkt members to sell their points for cash, as well as exchange them for any other awards traded on the Bakkt market. Those “open for everything” players include the Choice and Wyndham hotel chains. Users can channel the dollars to purchase a panoply of gift cards from Zappos, Home Depot , Uber , American Eagle, and sundry other retailers. Bakkt offers those cards at a 5% discount, so a Bakkt member can get a better deal than an outsider buying the cards online, enticing the traveler to book even more often at a Choice Comfort hotel or Sleep Inn. The second category consists of companies seeking to keep their points mostly or exclusively reserved for customers to exchange for their own products and services. In other words, stick with the traditional system. But keep in mind that Bakkt is already managing programs for hundreds of awards-issuers, many or most of which now fall into that group. Even if XYZ retailer won’t allow Bakkt members to trade its points, those restricted points are still displayed on his or her wallet. Say the member wants to buy a smartphone from XYZ electronics retailer, but doesn’t have enough XYZ points. He or she can sell hotel points for cash that otherwise might have expired, and pay with Apple or Google Pay for the XYZ device using the virtual Bakkt Visa card. The member then gets additional XYZ points toward future tech purchases. The third area is the one Bakkt wants to build. It’s aiming to create tailored programs that empower consumers to pay with their points for outside products and services that should strengthen their brands. Those “products you can trade for” are so attractive that customers will want to swell their portfolios of points by purchasing even more of the award-issuer’s goods and services. For example, an airline that flies frequently to Miami could allow customers to exchange points with the big hotel chains in South Florida, and let customers use its rewards at the airport coffee shops and local restaurant chains. According to Nancy Gordon, Bakkt’s chief of loyalty and rewards, companies are still feeling their way in deciding which partners will do most to enhance their brands. “Companies have different objectives in deciding which brands to partner with,” she says. Bakkt is wagering that by opening their awards to a much wider marketplace, America’s brands will win a far more steadfast following than if they’d kept points sequestered. Loyalty programs are a big growth business. Bakkt projects that by 2025, the total pool of rewards will mushroom from today’s $1.6 trillion to $5 trillion, for an annual growth rate of 25%. Its presentation to investors projects its sales totaling less than $20 million in the first half of 2021 will grow to $515 million in five years. EBIDA would hit $242 million or a nearly 50% margin, making Bakkt richly profitable. In just three years, Bakkt has undergone a radical makeover. We’ll soon see if this time it’s made the right trade. More finance coverage from Fortune : What’s really behind the 10.5% increase in meat prices this year Crypto, options, margin, REITs: How to tackle the market’s most complex areas Value stocks are unloved, unsexy, and poised to make a killing over the next decade 4 timeless investment tips for young investors What I wish I’d known when I started out: Advice from A-list investors This story was originally featured on Fortune.com || DeFi Summit Organizers Are Launching DCentral Miami, the Largest NFT and DeFi Conference in History: The combined premier event of DeFi Summit & NFTCON is set to bring together finance, collectibles and art during Art Basel week MIAMI, FL / ACCESSWIRE / October 28, 2021 / DCentral Miami, the largest, in person combined NFT and DeFi conference in history will take place on November 30 - December 1 2021 at Miami Airport Conference Centre (MACC). The event coincides with the biggest art week in the United States, Art Basel Miami and is set to merge the world of art with the world of decentralized finance. "Miami is not only becoming the hub for innovation and crypto, but also breathing life into the explosive market of NFTs in new and exciting ways. The city is truly flourishing and making its own original name for itself in this crypto space," said Justin Wu, co-founder and CEO of DeFi Summit. Miami Airport Convention Center will have three dedicated stages running constantly throughout the two days with a plethora of Keynotes, Panels, Workshops, and Talks. With three stages at the event the agenda will be jam-packed with speakers such as Pplpleasr, Gala Games, The Sandbox, VaynerNFT, The Graph, and many more projects across the Polygon, Cosmos, Solana, Polkadot, Bitcoin and Ethereum communities. A big highlight of the conference will be the one of a kind NFT Art Gallery, hosted by Superchief , the world's first NFT Gallery in New York City alongside the many exhibitor booths on the expo floor. "It has been a huge year for DeFi and NFTs. With the sales volume of NFTs reaching $10.7bn during Q3 of 2021 and the $235bn TVL in DeFi, we don't see this slowing down anything soon. That's why we couldn't be more excited to host this showcase during the largest art week in Miami to further advance what's possible in digitized art," said Michael Huynh, COO of DeFi Summit. Throughout the conference, there will be a dedicated Metaverse World area with digital fashion experiences by DIGITALAX, The Fabricant, DressX plus VIP dinner events and after-parties. Story continues In June 2021, DeFi Summit led by Justin Wu, Co-founder and CEO, hosted the largest DeFi Conference online with over 9,000 attendees which featured speakers such as Mark Cuban, Coinbase, Polygon, Cosmos, Web3 Foundation, Acala Network, and more. Earlier in October, DeFi Summit hosted NFTCON - an online conference that saw 97,393 total viewers dial in to watch the wide variety of in-depth talks across the three-day event. For both DeFi Summit and NFTCON, all panels and talks can be viewed via the DeFi Summit YouTube Channel . DCentral Miami is in-person with a select number of talks being streamed for those to attend virtually and tickets will be released in waves leading up to the event in two week tiers. A full list of speakers can be viewed on the website: DCentralCom.com DCentral tickets are on sale now here. About DeFi Summit DeFi Summit is an event organizer focusing on DeFi, NFTs, GameFi and DAOs. We aim to educate and give builders, developers and the community a chance to meet, share ideas, and discuss the biggest issues affecting the world of blockchain and cryptocurrencies. We organise free-to-all virtual and paid in-person events with keynote presentations, fireside chats, roundtable discussions, demos, and workshops from leading innovators in the industry. In June 2021, we organized the largest ever gathering for the decentralized finance community. In October 2021, NFTCON , was a virtual summit dedicated to non-fungible tokens with attendees and participants from around the globe. Media Contact: US: Mia Grodsky mia@yapglobal.com @mia_koda UK: Martyna Borys martyna@yapglobal.com @MartynaMLB SOURCE: DeFi Summit View source version on accesswire.com: https://www.accesswire.com/670028/DeFi-Summit-Organizers-Are-Launching-DCentral-Miami-the-Largest-NFT-and-DeFi-Conference-in-History || Not-Yet-Launched Coinbase NFT Platform Already Hits 1 Million Waitlist Signups: Richard Drew / AP Just a day after announcing it was launching an NFT marketplace, Coinbases waitlist reached 1 million signups . Coinbase Fees: Heres a Full Breakdown of How To Minimize Costs Find: What Is the Next Big Cryptocurrency To Explode in 2021? Over 1M people have signed up for Coinbase NFT since we launched yesterday, CEO Brian Armstrong tweeted. Over 1M people have signed up for Coinbase NFT since we launched yesterday https://t.co/pNE3nfFmyW Brian Armstrong (@brian_armstrong) October 14, 2021 Coinbase NFT is a peer-to-peer marketplace that will make minting, purchasing, showcasing and discovering NFTs easier than ever, the company said in an announcement. Just as Coinbase helped millions of people access Bitcoin for the first time in an easy and trusted way we want to do the same for the NFTs, the company said. We just announced the upcoming launch of Coinbase NFT. We are getting a LOT of signups so grateful for all your interest. We are seeing insane loads on our servers and our team is working hard to get this resolved. Check back soon! #Coinbase, Coinbases vice president of product Sanchan Saxena tweeted in response. We just announced the upcoming launch of Coinbase NFT ( https://t.co/U1ymWieRT3 ). We are getting a LOT of signups so grateful for all your interest We are seeing insane loads on our servers and our team is working hard to get this resolved. Check back soon! #Coinbase Sanchan S Saxena (@sanchans) October 12, 2021 NFTs have seen increasing interest this year. Daily sales peaked near $268 million in late August, according to tracker Nonfungible, Bloomberg reported. Story continues Coinbase, which started its Nasdaq listing in April in one of the most anticipated initial public offerings of 2021, as this was the first crypto exchange to go public, acknowledged in August it had stockpiled cash in the event of a crypto winter, GOBankingRates previously reported . The wind is in our sails right now, and it feels good. But crypto is a young volatile industry and there will come a day when times are harder. We know this because weve experienced major crypto winters where financing was difficult to get, partners cut us off, and we lost large parts of our employee base. Tension gets high during these times. Weve sustained by enduring, and not over-reacting. Its never as good as it seems, and its never as bad as it seems, the company said in a letter to shareholders in August. Related: Crypto Pop-Up Exchanges on the Rise as Retail Investing Grows in Popularity The foray into NFTs could help the company stand out among competitors such as Robinhood . NFTs are the next frontier for Coinbase and could become a lucrative business for the exchange next year, according to Bloomberg Intelligences Julie Chariell. Fees are more likely to mirror retail than institutional crypto-trading commissions, she wrote in a report. NFT trading at our 3% fee estimate would bring much more revenue per trading dollar, along with less volatility to Coinbase operations than the crypto trading platform. Following Coinbases announcement, BTIG analyst Mark Palmer gave the company a Buy rating, as he sees the NFT platform offering promise of new, higher-margin revenue stream as part of its accelerating diversification effort, according to Seeking Alpha. Learn: 7 Best Coinbase Alternatives for Cryptocurrency Transactions Explore: 10 Cheap Cryptocurrencies To Buy The BTIG analyst estimates the new platform could add $137.5 million to Coinbases revenue, or about 2% of Palmers full-year 2021 revenue estimate, Seeking Alpha reported. Coinbases stock was up 4.4% this morning. More From GOBankingRates 5 Things Most Americans Dont Know About Social Security The Best Cash Back Credit Card Right Now 8 Best Cryptocurrencies To Invest In for 2021 How Long $500K Will Last in Retirement in Each State Last updated: October 14, 2021 This article originally appeared on GOBankingRates.com : Not-Yet-Launched Coinbase NFT Platform Already Hits 1 Million Waitlist Signups || A small restaurant chain in Canada is plowing all of its profits into bitcoin. Its returned 460% on its investment and is tripling locations during the pandemic: Aly Hamam (right), co-founder of Tahinis, shows a bitcoin ATM at one of its restaurants. Tahinis Tahinis is a family-based restaurant chain that invests all its profit in bitcoin, a strategy that's "worked like a charm" as it expands. Tahinis's co-founders say they're up 460% on the investment first made in August 2020 as a way to protect profit from surging inflation. The Canadian company says it's helped other small businesses adopt a "bitcoin-standard" strategy. Tahinis is a family-based restaurant chain that along with its Middle Eastern cuisine serves this advice to small-business owners everywhere: Invest in bitcoin . Tahinis is billed as the world's first restaurant chain to invest 100% of its cash reserves into the cryptocurrency. Its founders, brothers Aly and Omar Hamam, said bitcoin exposure has been key in aiding its expansion in the face of the COVID-19 pandemic and soaring inflation that's sent prices soaring for ingredients they need for shawarma and other dishes. The company based in London, Ontario, Canada, first invested in bitcoin in August 2020. "We're up, to date, 460% on our initial investment and we didn't stop there," Tahinis chief marketing officer, Aly, told Insider in a recent interview. "We will continue sweeping excess profit into bitcoins. We even bought the [April 2021 price] top and then rode it all the way down, and we just kept buying month after month after month. So it has worked like a charm for us," he said. Bitcoin in August 2020 traded under $12,000. It was around $58,075 as of Friday after last week's record high above $69,000. Tahinis follows a so-called "bitcoin-standard strategy" under which it operates in fiat currency, or Canadian dollars, then invests all profit into bitcoin, a move Aly said was similar to that of MicroStrategy's . The data analytics company uses excess cash to purchase what it sees as a "dependable store of value." MicroStrategy recently held 114,042 bitcoins , valued at about $6.8 billion as of Thursday. Aly for a while had ignored bitcoin after one of his financial idols - Warren Buffett - called it "rat poison squared" in 2018. Story continues Tahinis keeps working capital in cash for a few months and then the profit, part of its treasury, is sent into bitcoin. Privately owned Tahinis couldn't disclose how much bitcoin it holds on its balance sheet but said sales at its restaurants now exceed $8 million over the past year. The company in 2021 will expand to nine locations from eight and is on track in 2022 to have a total of 29 restaurants. Aly said Tahinis has worked with dozens of small businesses worldwide onboarding them to a bitcoin-standard strategy. "The main problem that we have right now is that dollars are devaluating," Aly said. "Central banks will say inflation is only 5%. But that really depends on what you want to buy. Poultry is up 45%, beef is up 25%, imported goods and spices are up 65%, oils are up 110%," since March 2020, when the pandemic was accelerating, he said. "So it made sense to put our money into [bitcoin] and that will outstrip any inflation rates we see for the coming decade." The Hamams are sensitive to currency devaluation after seeing their parents' wealth and savings hurt by a 65% drop in the Egyptian pound against the US dollar between 2012 and 2017. The brothers were in Tahrir Square in 2011 during the Arab Spring uprising that led to the ouster of then-President Hosni Mubarak. "We faced the riot police, we got hit with tear gas," said Aly. "We came to Canada the following year with a reinvigorated hope to start our new lives here," which led to Tahinis. The Hamams had previously obtained dual citizenship through their father who earned a Ph.D. in Canada and later worked as a mathematics professor in Saudi Arabia. Tahinis has installed bitcoin machines in every restaurant to encourage employees and customers to buy the cryptocurrency. It doesn't take bitcoin for food payments in part because accounting and tax reporting is much easier to operate in fiat currency and it wants to promote holding bitcoin. Tahinis started recovering from the pandemic in May 2020 after sales plummeted by 80% and forced layoffs. Along with bitcoin, having a quick-service restaurant model rather than an in-person dining model requiring more square footage to operate has helped. "We had more people sign up for franchises after COVID than before COVID," Omar Hamam, Tahinis CEO, told Insider. "We have a full marketing team that works every day to push out content to make people laugh," and to see Tahinis's food on TikTok and Instagram , said Omar, "and that we have our own supply-chain company helps a lot. So we've really tackled the business from every aspect." Read the original article on Business Insider
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 57569.07, 56280.43, 57274.68, 53569.77, 54815.08, 57248.46, 57806.57, 57005.43, 57229.83, 56477.82
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-08-23]
BTC Price: 6534.88, BTC RSI: 46.42
Gold Price: 1187.00, Gold RSI: 35.33
Oil Price: 67.83, Oil RSI: 49.81
[Random Sample of News (last 60 days)]
6 Million Bitcoin is Lost or Stolen, Should the Real Value of BTC Higher?: At the Building on Bitcoin conference this week, Jameson Lopp, former lead engineer at BitGo and engineer at CasaHODL, revealed that an estimated 4 million BTC are lost and 2 million BTC are stolen.
As of July 2018, a total of 6 million BTC are left inaccessible and permanently lost on the bitcoin blockchain. Given that it is not possible to hard fork the chain to recover the lost Bz, 28.5 percent of the bitcon’s fixed supply is permanently lost.
Hence, the maximum supply of BTC cannot be larger than 15 million BTC and as of current, given that 17 million BTC are in circulation, only 11 million BTC that can actually be used, sent, received, and traded exist.
Chainalysis, a cryptocurrency and blockchain analytics company, first revealed in an interview with Fortune that 3.79 million BTC are already lost on the bitcoin blockchain. That number was released in November 2017.
At the time, Kim Grauer, senior economist at Chainalysis, said that it is difficult to conclusively state that the lost bitcoin are taken into consideration by the market due to the highly speculative nature of the cryptocurrency sector. Grauer explained that in the long-term, as the fixed supply of BTC maxes out, it is possible that an increase in demand could push the price of BTC higher, creating a premium.
Grauerexplained:
“That is a very complex question. On the one hand, direct calculations about market cap do not take lost coins into consideration. Considering how highly speculative this field is, those market cap calculations may make it into economic models of the market that impact spending activity. Yet the market has adapted to the actual demand and supply available – just look at exchange behavior. Furthermore, it is well known monetary policy procedure to lower or increase fiat reserves to impact exchange rates. So the answer is yes and no.”
Currently, as of July 5, 2018, the price of BTC is $6,700. The price of bitcoin is calculated based on the 17.13 million BTC figure that is supposedly circulating in the market. However, if the supply of bitcoin that is publicly displayed to the public had been 11 million, BTC would be valued at $10,300.
Similar to block halving, because the fact that millions of bitcoin are lost on the blockchain is widely recognized by investors in the global market, it is possible that the current market is demonstrating a valuation that considers the supply of bitcoin that is actually substantially smaller than the supply that is portrayed to the market.
Over the past few years, prominent investors and analysts in the cryptocurrency sector have consistently said that the price of bitcoin could reach anywhere from $100,000 to a couple million dollars because only 21 million BTC can ever exist.
If one of the main characteristics that make bitcoin a superior store of value over traditional assets such as gold is its fixed supply, the fact that only 75 percent of bitcoin are accessible should drive the value of the cryptocurrency up in the long run.
Featured image from Shutterstock.
The post6 Million Bitcoin is Lost or Stolen, Should the Real Value of BTC Higher?appeared first onCCN. || Should You Wait for the DowDuPont Spinoff, or Is the Stock a Buy Now?: Today,DowDuPont(NYSE: DWDP)is a $155 billion industrial conglomerate. It operates in over 60 countries and is a global leader in agricultural technology, polymer manufacturing, and specialty materials used in electronics and food ingredients. By this time next year, however, the company will be no more. Well, it'll be three different companies each focusing on one of the current strengths.
While this multispinoff strategy was always the plan (and pretty much the only way for Dow Chemical and DuPont to gain regulatory approval for their megamerger in 2017), it seems to have left investors a little less than enthusiastic about owning shares of the combined company today. DowDuPont stock has lost 6.5% in the first half of 2018.
Perhaps investors are just weighing their options. One approach is to simply own DowDuPont now and collect shares of each spinoff in 2019, ending up with ownership in three different companies without lifting a finger. The other approach is more strategic, waiting for the spinoffs to occur and then choosing which of the three companies belong in your portfolio. Turns out, one option might prove superior to the other.
Image source: Getty Images.
DowDuPont has to doa lotof paperwork to complete its three-way split, but management expects the dust to settle by the end of the first half of 2019. Here's an updated rundown of the spinoff details, including the names for each company and expected timeline:
[{"Metric": "Estimated annual sales", "Materials Science (Dow)": "$40 billion", "Agriculture (Corteva Agriscience)": "$14 billion", "Specialty Products (DuPont)": "$21 billion"}, {"Metric": "Estimated operating margin", "Materials Science (Dow)": "20%", "Agriculture (Corteva Agriscience)": "15%", "Specialty Products (DuPont)": "25%"}, {"Metric": "Spinoff date", "Materials Science (Dow)": "By end of Q1 2019", "Agriculture (Corteva Agriscience)": "By end of Q2 2019", "Specialty Products (DuPont)": "By end of Q2 2019"}, {"Metric": "Targeted annual cost savings from synergies", "Materials Science (Dow)": "~$100 million", "Agriculture (Corteva Agriscience)": "~$500 million", "Specialty Products (DuPont)": "~$400 million"}]
Data source: DowDuPont.
Management decided to retain the brand equity built up over the decades by keeping the Dow and DuPont names -- probably a smart move, if a slightly confusing one. The agricultural company, to be called Corteva Agriscience, is the only entity getting a fresh look.
The division of assets and liabilities remains largely unchanged fromprevious disclosures. Dow (materials science) will retain lower-margin polymer production assets including bulk manufacturing, packaging products, infrastructure products, and certain consumer products. DuPont (specialty chemicals) will retain the electronics business, safety materials portfolio, transportation materials units, nutrition, and biosciences assets.
Both of these companies haveample high-margin growth opportunitiesahead of them. In fact, six of the seven current business segments that will be divided between future Dow and future DuPont delivered growth in the first quarter of 2018 compared to same period in 2017. Five of those saw sales increases of double digits, with safety and construction (up 7%) and electronics and imaging (down 1%) the outliers.
That leaves Corteva Agriscience, which will keep all the seeds, biotech traits, and crop protection chemicals. The farm-focused business is also expected to capture the largest annual cost savings -- a whopping $500 million -- from the merger and spinoff. That would be great, especially considering it's the company most in need of a financial boost. That's something investors shouldn't overlook.
Image source: Getty Images.
The single biggest reason for investors to adopt a more strategic approach to the upcoming DowDuPont spinoffs is the risk posed by the agricultural company. It's not so much the business's fault, but the fact that global agricultural markets are reeling right now. And it appears as if conditions will deteriorate further before improving.
Consider that the agricultural segment saw a 25% drop in revenue on a pro forma basis in the first quarter of 2018 compared to the prior-year period. The main culprit was volume declines, which the company blamed on weather-related disruptions, but that's not the whole story.
Both corn and soybean acreage are expected to be lower in the upcoming harvest than the United States saw in 2017. That's not surprising considering farmers are faced with rising input costs and reduced selling prices (partly caused by major agricultural companies, who saved themselves by consolidating in recent years).
In fact, American farmers arequietly in crisis, with farm incomes today 35% lower than in 2013. Throw in continued political and economic headwinds in South America and rising trade tensions with China -- an important export market for agriculture products and biotech traits -- and global agricultural markets are a mess right now.
That combination of factors might not allow Corteva Agriscience to start off its journey as a separate company on the best footing, which is no minor detail considering it will have the weakest margins and smallest annual sales of any DowDuPont company.
Image source: Getty Images.
DowDuPont has some pretty lucrative brands with great long-term growth potential, which might be expected for a $155 billion industrial conglomerate. However, with the upcoming spinoffs looming, investors should consider the risks posed by owning Corteva Agriscience. There's a good chance the the agricultural company will struggle given all the headwinds facing farmers around the globe, which is not good considering it's expected to deliver the lowest operating margin of the three new companies.
That suggests investors might be better off approaching the spinoffs more strategically, by picking and choosing which DowDuPont companies are best for their portfolio. After all, the higher-margin materials science and specialty products businesses are humming along right now. It would be a shame to let the slumping agricultural business degrade those growth opportunities for your portfolio.
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Maxx Chatskohas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Bitcoin ETFs: Three Reasons Why a Positive SEC Decision Would be a Game Changer for the Crypto Space: In late June, a major news item buzzed throughout the crypto world: the CBOE had filed an application with the SEC to open the worlds first Bitcoin Exchange Traded Fund (ETF). Largely enthusiastic comments began pouring into the SEC website, with many focusing both on the potential benefits of a Bitcoin ETF as well as the importance of adapting to a constantly evolving marketplace. While the SEC announced they will be postponing their decision until the end of September , I am very optimistic that the application will be accepted, especially given the agencys earlier announcement that Bitcoin and ETFs are not securities , as well as its decision to ease rules surrounding low-risk ETFs . Like many in the cryptocurrency sector, I am very excited by the potential of Bitcoin ETFs on the horizon, as I truly believe it will be a game changer for the cryptocurrency space. Here are three reasons why. Bitcoin Price Could Dramatically Increase To understand how Bitcoins price could rise following the launch of a Bitcoin ETF, its helpful to look at the launch of a gold ETF as an example. In 2003, the price of gold dramatically increased following the launch of an ETF. Since its launch, retail access to gold has skyrocketed as new investors more easily turn to the gold market as a portfolio diversifier and as a foundational asset
Today, the SDPR GoldShares ETF is one of the biggest ETFs in the market with over $35 billion under management, JPMorgan said. Given the massive growth trajectory following the launch gold ETFs, many crypto enthusiasts, including myself, believe that the same positive correlation could exist between Bitcoin prices and the launch of Bitcoin ETFs. In fact, JPMorgan has referred to a Bitcoin-based ETF as the holy grail for investors. Furthermore, I believe that a Bitcoin ETF launch could drive a massive increase of institutional money to the crypto market. Between Goldman Sachs announcing the launch of its bitcoin trading platform, to JPMorgan launching a patent for blockchain-powered payments , we have already seen increased institutional adoption in the crypto space this year. However, I believe that a launch of a Bitcoin ETF would be precisely the initiative to catapult Bitcoins price and the cryptocurrency space as a whole to the next level. Story continues Bitcoin and Other Cryptocurrencies Could Become Much More Accessible Lets face it: the ever-changing world of cryptocurrency is complicated even for those of us who work in the crypto space. For newcomers to the sector, it can be downright daunting. To buy and sell cryptocurrency now, investors need to deal with cryptocurrency exchanges, as well crypto wallets, both of which can be complex and confusing, and if chosen unwisely, can lead to security risks. In addition to all of this, investors face concerns regarding lack of insurance protection and crypto custodianship in the space. By some estimates, there is $10 billion of institutional money waiting on the sidelines to invest in digital currency today, Co-Founder and CEO at Coinbase Brian Armstrong said in a blog post last year. The primary item that he claimed was preventing institutional investors from getting involved was the existence of a digital asset custodian that they can trust to store client funds securely, before introducing the launch of Coinbase Custody . Indeed, I believe that all of these issues are currently serving as limitations that are preventing Bitcoin from reaching its fullest potential. The CBOEs VanEck SolidX Bitcoin ETF application, however, addresses all of these pain points. SolidX would handle custody by using a cold-storage solution, meaning that all funds would be kept securely offline. Furthermore, the Bitcoin ETF would provide a robust insurance policy that would carry initial limits of $25 million in primary coverage and $100 million in excess coverage, with the ability to increase coverage depending on the value of the bitcoins held by the Trust. For all of these reasons, I believe CBOES Bitcoin ETF application is strong and, if accepted, would bring peace of mind to a wide variety of institutional investors who have been interested in but until now stayed away from the crypto space. Suggested Articles All the Ways to Backup Your Bitcoin Wallet Hate Risk and Want to Invest in Bitcoin? ETFs, Cryptocurrency Index, and Hedge Funds Are Here to Help How Can Bitcoin Be Used as a Crime Weapon? And How Can this be Solved? BItcoin ETFs Could Create a New Asset Class In todays financial landscape, a diversified portfolio is more desirable than ever, as it provides a hedge against risk and boosts the potential for a larger ROI. One crucial component of portfolio diversification includes investing in a variety of assets that are not correlated with one another. Bitcoin has already demonstrated that maintains low correlation with every other asset, making it a strong candidate for a diversified portfolio. And, a Bitcoin ETF could create a new investable asset class that could drive a wide range of institutional participants. For now, all we can do is wait until the SEC makes their decision in late September. This article was written By Chris Kline, Co-founder, and COO at Bitcoin IRA This article was originally posted on FX Empire More From FXEMPIRE: U.S. Equities Retreat, Treasury Yields Plunge as Turkish Lira Tumbles on Global Credit Contagion Fears ActivTrades Setting Highest Standards for Online Trading Natural Gas Weekly Price Forecast natural gas gains again Do You Think Cryptocurrencies are a Bubble? The Good News is You Can Trade a Bubble S&P 500 Weekly Price Forecast are we hitting a top? Oil Price Fundamental Weekly Forecast -Despite Mounting Demand Concerns, Market Vulnerable to Supply Disruption || France Could Propel a Decade of Growth for Total and SunPower: Total's(NYSE: TOT)main business today may be oil and gas, but it's making aggressive moves to become a leader in renewable energy as well. Late last week, CEO Patrick Pouyanne said Total was ready to build 10,000 megawatts (MW) of solar power plants in France, enough to power 1.64 million homes, over the next 10 years.
If it follows through on that plan, Total will become one of the biggest renewable energy developers among the energy industry's old guard. And it could help its affiliateSunPower Corp.(NASDAQ: SPWR)along the way.
Image source: SunPower.
France has launched an initiative known as #PlaceAuSoleil, a series of 30 measures intended to make more areas available for solar, create a viable economic model for investors in solar projects, and provide for more rooftop solar tenders. The wide-ranging effort should support the solar industry broadly.
For example, late last year, France announced it was increasing the volume of solar tenders it would bid out annually from 1,450 MW to 2,450 MW through 2019. The combination of Total and SunPowerhas dominated those tenders so far, so an expansion of the market should be great news for them. The two companies won more than 500 MW of projects in 2017, about a third of the tenders auctioned off, so they'll likely be leading contenders for further projects.
The #PlaceAuSoleil initiatives are expected to accelerate solar deployment in France toward a target of 20,000 MW by 2023 -- up from 8,300 MW installed today.
Many big oil companies have been criticized for making relatively small bets on renewable energy, but Total is more aggressive on this front than most of its peers. To deploy 10,000 MW in 10 years will require about $10 billion of investment, or $1 billion per year -- more than 5% of the company's total capital expenditures.
TOT Capital Expenditures (TTM)data byYCharts
That's just Total's planned solar investment in France, so its full investment in renewable energy could be significantly higher. Investors should pay attention to signs the company's French strategy might be expanded into other markets it knows well, such as the Middle East or Africa.
The bigger impact could be on SunPower, which is majority owned by Total. The company expects to deploy 1,500 MW to 1,900 MW in 2018, so assuming its Total's development partner, it would benefit greatly from an average of 1,000 MW of additional annual demand for the next decade.
SunPower's high-efficiency solar panels have also been key to Total's distributed-generation project wins in France, which include residential and commercial rooftops, and small, ground-mounted systems. Because such panels squeeze more energy out of each square meter of solar deployed, they lower the cost of electricity from solar in high-cost locations.
The impact of Total's plans could be big financially as well. SunPower generates between $1 per watt from a power plant development to about $2 per watt in residential developments, with gross margin generally hovering in the mid-single digits in power plants and thelow-20s for residential. Gross profit from France if 1,000 MW of solar are sold could be up to $400 million annually.
Few countries are making as concerted an effort to expand their solar industries as France. With tenders there expanding this year, and the new #PlaceAuSoleil initiative driving even more investment in the industry, Total and SunPower have a lot of potential gains ahead.
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Travis Hoiumowns shares of SunPower. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Binance Donates $1 Million Towards Victim Relief for West Japan Floods: binance Binance, the worlds largest cryptocurrency exchange, pledged $1 million for the victims of the floods in West Japan. In an official post , Binance stated: To help out the victims in West Japan that were affected by the heavy rains on 7/7/2018, Binance is donating $1,000,000 USD and calling for our crypto friends and partners to join us in the relief initiative. On Saturday Japan has been hit with unprecedented rainfall causing floods and landslides. According to a BBC report , More than 60 people have died and about a dozen people have been missing since. PM Shinzo Abe has ordered the evacuation of two million people in the disaster-prone areas. Binance has urged users whod like to donate to the cause to send ETH or ERC-20 tokens to the wallet mentioned in their official post. Send ETH or ERC20 tokens you want to donate directly to the Binance donation address 0xA73d9021f67931563fDfe3E8f66261086319a1FC They stated that all outgoing transactions would only be used for charity purposes and will be explained by Binance. Changpeng Zhao, the founder and CEO of Binance, tweeted out calling the crypto community to contribute towards this fund. He stated that the exact logistics would be figured out shortly and his team is contacting local authorities to figure out final delivery logistics. Given the short time, we had to keep this very simple for this time. We will build something more systematic later. he further stated. He also mentioned that projects which donated to the cause would get bonus points for future listing requests and that they might consider the donation towards the listing fees. Exact logistics will be figured out shortly. Reply to this thread or let me know if you (ur project) want to donate. Bonus points for future listing requests. And we may count your donations towards the listing fees. Listed projects, you know what to do! CZ (not giving crypto away) (@cz_binance) July 8, 2018 The Ethereum wallet mentioned has received about $90,000 worth of ETH and $1.05 Million worth of ERC-20 tokens as of writing. Story continues Cryptocurrencies have been long used to donate for charitable causes especially due to the transparency of transactions on the public ledger. The Pineapple Fund , run by an anonymous donor, has supported over 60 charities, ranging from clean water initiatives to open source projects, by donating $55 million dollars worth of Bitcoin. As CCN reported earlier, Ripple has donated $29 million in XRP to DonorsChoose , a charity which helps public school teachers raise money for educational resources such as books and school supplies. Freedom of the Press Foundation , a non-profit aimed to protect journalists and whistleblowers, has recently started accepting cryptocurrencies for donations and has already recieved half a million dollars in various cryptocurrencies so far. Featured image from Shutterstock. The post Binance Donates $1 Million Towards Victim Relief for West Japan Floods appeared first on CCN . || Global stocks sink amid trade turmoil, oil drops on output: By Laila Kearney NEW YORK (Reuters) - Global stock markets extended losses on Monday as trade fights between the United States and other leading economies worsened, while oil settled lower as the anticipation of sharply higher crude output loomed large. U.S. Treasury Secretary Steven Mnuchin on Monday said forthcoming investment restrictions would apply "to all countries that are trying to steal our technology." His remarks, posted on Twitter, came a day after a U.S. government official told Reuters the Treasury is developing rules that would bar firms with at least 25 percent Chinese ownership from buying U.S. technology companies. "Investors are now beginning to worry that this heated rhetoric is something that will last for a while and could actually lead to disruption of trade," said Sam Stovall, chief investment strategist at CFRA Research in New York. In afternoon trading, the Dow Jones Industrial Average (.DJI) fell 463.31 points, or 1.88 percent, to 24,117.58, the S&P 500 (.SPX) lost 52.96 points, or 1.92 percent, to 2,701.92 and the Nasdaq Composite (.IXIC) dropped 207.82 points, or 2.7 percent, to 7,484.99. The pan-European FTSEurofirst 300 index (.FTEU3) lost 2.19 percent and MSCI's gauge of stocks across the globe shed 1.7 percent. Technology stocks bore the brunt of the damage, with the S&P technology index (.SPLRCT) falling 2.7 percent, the most among the major S&P 11 sectors. Policymakers in China moved quickly to temper any potential economic drag from its dispute with the United States. Its central bank said on Sunday it would cut the amount of cash some banks must hold as reserves by 50 basis points. The European autos sector (.SXAP) was hit by trade tensions between Washington and Europe, falling 2.4 percent and set for its seventh straight day of losses after U.S. President Donald Trump said on Friday he aimed to hike tariffs on EU car imports by 20 percent. The index of global auto manufacturers fell 1.33 percent. A senior European Commission official said on Saturday the European Union would respond to any U.S. move to raise tariffs on cars made in the bloc. Harley-Davidson Inc (HOG.N) said on Monday it would move production of motorcycles shipped to the European Union from the United States to its international facilities and forecast the trading bloc's retaliatory tariffs would cost the company $90 million to $100 million a year. The growing disputes have led investors to take refuge on safer ground. Benchmark U.S. 10-year Treasury notes gained 5/32 in price to yield 2.884 percent, down from 2.900 percent late on Friday. The yield curve between 2-year and 10-year notes flattened to 33 basis points, the lowest level since 2007. Story continues Gold, however, hovered near last week's six-month low as investors chose Treasuries over bullion. Meanwhile, oil fell as investors prepared for an extra 1 million barrels per day in output to hit the markets after OPEC and its partners agreed to raise production. U.S. crude (CLcv1) fell 0.6 percent to $68.17 per barrel and Brent (LCOcv1) was last at $74.66, down 1.18 percent on the day. In the currency market, the dollar index (.DXY) fell 0.24 percent, with the euro (EUR=) up 0.39 percent to $1.17. The Japanese yen strengthened 0.48 percent versus the greenback at 109.46 per dollar, while Sterling (GBP=) was last trading at $1.3275, up 0.05 percent on the day. The Turkish lira rose on expectations of a stable government after Tayyip Erdogan and his ruling AK Party claimed victory in presidential and parliamentary polls. Bitcoin steadied after hitting seven-month lows over the weekend as the security of cryptocurrency exchange operators came under more scrutiny. (Additional reporting by Ritvik Carvalho, Henning Gloystein in Singapore and Hideyuki Sano in Tokyo, Amanda Cooper in London, Sanjana Shivdas in Bengaluru and Karen Brettell in New York; Editing by William Maclean and Dan Grebler) View comments || Audit Giant Intuit Gains Patent for Bitcoin Transactions over Text Messages: Intuit has been granted a patent that describes a method whereby Bitcoin payments can be processed by using text messages. Thepatentwas filed to the U.S. Patent Office on June 13, 2014.
The application explained a system that would allow two users to complete their payments using their mobile phones. It would also include a “peer-to-peer virtual currency network” which would store the funds of both the users.
The method includes receiving, by a payment service from a payer mobile device of a payer, a payment text message comprising a payment amount and an identifier of a payee mobile device of a payee.
The patent listed various ways to complete a transaction upon receiving a request for processing a payment. In the first option, an unanswered voice call will be used to verify the mobile phone. In the second option, a password will be used to access the user account. Once the data is verified, the system will check whether the payer has enough funds to complete the payment. In case, the payee doesn’t have a virtual account, the system will create one and then transfer the funds. In the end, the payee will be notified with a text message.
Intuit also launched theBitcoin Quickbooks PayByCoinservice in partnership with BitPay in 2014. The sample images shown in the recent patent also use BitPay user accounts to demonstrate BTC transactions. Apart from cryptocurrencies, Intuit has also focused on blockchain technology by hosting an Innovation Lab in San Fransisco in order to explore its various uses.
Last month,MasterCardwon a patent which described a method to store both cash and cryptocurrencies in one account. The patent, which was filed in June 2016, failed to provide further details. Seth Eisen, Senior VP for Communications at MasterCard, explained that patents were meant to protect “the company’s intellectual property”, even if the systems are not implemented in the future.
Earlier this year,The Bitcoin Patent Reportpublished a list of the top 10 companies that had filed majority of the Bitcoin patents. Bank of America secured first place with 45 patents filed within 5 years. Ali Baba and IBM were fourth and fifth in the list, with 36 and 34 patents filed by each company. MasterCard filed 21 patents, dropping it to the eighth position. Considering the number of patents MasterCard has won this year, it won’t be a surprise if it secures a position in the top 5 companies in 2019.
The postAudit Giant Intuit Gains Patent for Bitcoin Transactions over Text Messagesappeared first onCCN. || Chinese Authorities to Shut Down ‘Illegal’ Bitcoin Mining in Autonomous Region: Xinjiang Uyghur, an autonomous region in northwest China, has warned local Bitcoin mining enterprises to close their operations before August 30, 2018.
Chinese news outlet Jinsepublishedthe notice posted by the Xinjiang Economic and Information Commission on July 21. These mining companies will also have to report to the commission.
As explained in the notice, one of the reasons for taking this step is that these companies haven’t undergone tax registration. Furthermore, they are not registered as mining enterprises and fail to comply with local regulations. Another reason for shutting down such companies is that they are not in agreement with any power supply company in the autonomous region. Hence, not only are they operating illegally but also utilizing a large amount of electricity.
Similarly, another document surfaced on the internet in January 2018, where Xinjiang’s local authorities were supposed to report the progress of miners exiting the region. Xinjiang’s commission also requested authorities to be cautious when dealing with Bitcoin mining companies in June 2017.
Before Xinjiang’s crackdown on cryptocurrencies, Bitmain, the world’s largest Bitcoin mining company based in China, announced on November 2016 that it was planning to open a mining data-center in the region. However, the company hasn’t provided any update after the initial announcement.
Ever since September 2017, China has been trying its best to lessen mining activities in the country. Up until then, the country was home to the biggest mining companies in the entire world. Even now,Bitmaincontrols 51% of the Bitcoin hash-rate.
China has shut down many crypto exchanges and mining companies, however, Bitcoin miners are still present in the country.
For instance, Sichuan, a province in China which was once known as the country’sBitcoin mining capital, was recently hit by floods. Upon close inspection, it was discovered that some of theBTC mining farms were destroyed. Li Yang, the owner of a $5 million mining rig, told a local news channel that the unfortunate incident cost him 10 million yuan (~$1.5 million). The report stated that as a result of the flood, many miners were planning to move to Xianjiang to continue their mining operations. However, with the latest notice provided by Xianjiang’s commission, these miners will definitely need to find another solution.
Xinjiang Uyghur image from Shutterstock.
The postChinese Authorities to Shut Down ‘Illegal’ Bitcoin Mining in Autonomous Regionappeared first onCCN. || Coinbase Begins British Pound Support for UK Bitcoin Customers: Users at Coinbase will now be able to deposit and withdraw funds in British Pound, the San Francisco companyannouncedon Wednesday.
Until now, Coinbase UK users had to convert their cryptocurrency holdings into Euro and then into pound sterling via international transfers. The process owed costly intermediaries; for instance, SEPA fees that could go as much as ¢10 per transaction. The EUR-to-GBP conversion also used to take several days to finish. However, with the GBP’s addition to Coinbase portfolio, UK users can expect same day deposits and withdrawals at nominal intermediary costs.
Over the years, Coinbase has grown from a small Bitcoin wallet startup to an established crypto-trading house. The company now caters to customers of different trading needs through its variety of product offerings. For individuals, Coinbase offers its signature wallet services; while for active and institutional traders, the company provides a dedicated digital asset exchange called Coinbase Pro, and a diversified liquidity pool called Coinbase Prime, respectively.
“Faster payments will benefit all UK customers, enabling almost immediate transfers,” the company blog reads. “This is essential for Coinbase Pro and Coinbase Prime customers in particular who will now be able to transfer funds quickly.”
The effort could also improve Coinbase standing in the UK market. As of now, Coinbase’s UK market share stands around 19.34%, which is way far behind – and second to – Luno. Known by its former name, Bit-X, Luno currently acquires 57.53% of the global BTC/GBP market share.
Coinbase, meanwhile, hosts the second largest Bitcoin volume against all fiat currencies, with its latest semi-annual standing pointing to 13.03% market share. The firm has recorded 3.07M BTC worth of combined USD and EUR volume in the past six months. As for GBP, the Coinbase BTC volume is close to 64k.
Coinbase, being an exclusive digital currency firm, has obtained a bank account in the UK. The company already has an e-money license issued by the UK’s Financial Conduct Authority (FCA), especially when cryptocurrencies remain unregulated.
Nevertheless, the FCA is said to have been working closely with the Bank of England and the UK Treasury to develop a coherent strategy for cryptocurrency regulations. Their approval of companies like Coinbase, meanwhile, could decently improve Bitcoin’s future in the world’s fifth largest economy.
Featured image from Shutterstock.
The postCoinbase Begins British Pound Support for UK Bitcoin Customersappeared first onCCN. || Crypto Exchanges Join Winklevoss Backed Self-Regulatory Group: A group of cryptocurrency exchanges has joined up with Gemini founders Cameron and Tyler Winklevoss to launch a new industry-focused self-regulatory organization (SRO).
First proposed in March, the Virtual Commodity Association aims to "foster financially sound, responsible and innovative virtual commodity markets" by developing industry standards and encouraging cryptocurrency exchanges to prevent market manipulation and other fraudulent actions.
On Monday, the proposal took its next step, with Gemini launching a working group to begin developing these standards.
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As explained by an introductory post on the VCA's website, the Commodity Futures Trading Commission (CFTC) has legal jurisdiction over commodities, such as bitcoin and ether, though it does not necessarily have jurisdiction over cash and spot markets derived from commodities.
However, under the Commodity Exchange Act (CEA), the CFTC can regulate fraud or market manipulation.
The post explained:
"The purchase and sale of commodities in the spot/cash markets has been historically exempt from the CEA and CFTC jurisdiction. Nevertheless, cash markets for virtual commodities â as it is a less well known industry â can benefit from an additional layer of oversight. We believe that adding this layer can provide even more protection for consumers and ensure the integrity of these markets and growing industry."
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To that end, the VCA will appoint a board of directors to oversee the organization, which will commit to remaining a non-profit, independent group that can "help set and adopt global standards and best practices."
Imagevia Shutterstock
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[Random Sample of Social Media Buzz (last 60 days)]
@btc_reddit || @btc_0 || @eztechwin || @Bitcoin_Stats || @bitcoin_reddit || The most bullish news of 2018. This is legit. $BTC https://twitter.com/Bakkt/status/1025368878099116033 … || @lifeoncoin || @whats_a_bitcoin || @btc_fan || @India_Bitcoin
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Trend: up || Prices: 6719.96, 6763.19, 6707.26, 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
General Electric Tees Up Another Asset Sale: Investors have been losing patience with General Electric 's (NYSE: GE) turnaround progress recently. Last week, the stock hit a new multiyear low following the news that GE stock will be removed from the widely followed Dow stock market index. There have also been rampant rumors about GE potentially eliminating its dividend or breaking up the company. However, in one respect at least, GE's turnaround plan is on track. General Electric continues to fetch good prices for pieces of its industrial empire that it wants to sell. Over time, asset sales will make GE easier to manage, while helping the company shore up its balance sheet. GE reaches a deal for another unit For the past few months, General Electric has been talking to potential acquirers -- both private equity firms and other companies -- about its distributed power operations. This business (part of the struggling GE Power segment) makes gas turbines that generate power on site, mainly for large factories, and includes the GE Jenbacher and Waukesha brands. On Monday, GE announced that private equity firm Advent International had won the bidding for its distributed power business. The deal was first reported on Sunday night by The Wall Street Journal . Advent will pay $3.25 billion for this unit, which had $1.3 billion of revenue last year. The sale is scheduled to close in the fourth quarter of 2018. A GE gas turbine GE is selling off pieces of its troubled power business. Image source: General Electric. The distributed power business is set to produce earnings before interest, taxes, depreciation, and amortization (EBITDA) of roughly 250 million euros ($292 million) this year, according to Reuters . If that estimate is accurate, then the sale price of $3.25 billion reflects a healthy valuation of more than 11 times EBITDA. One deal among many The pending deal for GE's distributed power business is just one of several $1 billion-plus divestitures that the company has agreed to over the past year. Last September, GE struck a deal to sell its industrial solutions unit to ABB for $2.6 billion. At the time, the companies said the sale would close in the first half of 2018. Earlier this month, EU regulators approved the deal, so it is likely to be completed any day now. Story continues In April, GE agreed to sell its healthcare IT business to private equity firm Veritas Capital for $1.05 billion. That deal is expected to close next quarter. And last month, GE signed a complex deal to sell its transportation business -- which specializes in building freight locomotives -- to Westinghouse Air Brake Technologies (NYSE: WAB) , better known as Wabtec. General Electric will receive cash proceeds of $2.9 billion when this sale closes in early 2019, plus a 9.9% stake in Wabtec that would be worth $1.9 billion at current market prices. (GE shareholders will also receive about $7.7 billion of Wabtec stock.) GE is required to sell its Wabtec shares within three years, and it may opt to cash out even faster. Cash proceeds are starting to add up The four signed asset-sale agreements discussed here will generate cash proceeds of $9.8 billion over the next 12 months. To be fair, some of these asset sales will likely lead to taxable gains, so part of the proceeds will need to be set aside for Uncle Sam. Additionally, GE will spend a little over $3 billion later this year to buy out Alstom 's interests in three joint ventures that the two companies set up several years ago. Nevertheless, even without any further asset sales -- and excluding the potential sale of GE's $1.9 billion of Wabtec stock -- General Electric should have at least $5 billion of net proceeds to use for debt reduction. Other planned divestitures such as the iconic GE Lighting business will likely add to the company's cash proceeds later this year and in 2019. Thus, investors don't seem to be giving General Electric's management enough credit. CEO John Flannery said last year that he would simplify the company and use the proceeds of its asset sales to pay down debt. He is following through on that commitment. There's no quick fix to GE's current problems, but the company is making the right moves to get healthier in the long run. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinberg owns shares of General Electric. The Motley Fool owns shares of and recommends Westinghouse Air Brake Technologies. The Motley Fool has a disclosure policy . || AUD/USD and NZD/USD Fundamental Daily Forecast Pressured by Weaker Global Equity Markets: The Australian and New Zealand Dollars are trading lower after giving up earlier gains. Weighing on the Aussie and Kiwi is lower demand for higher-risk assets with stocks down in Asia. At 0424 GMT, the AUD/USD is trading .7381, down 0.0026 or -0.36% and the NZD/USD is at .6774, down 0.0004 or -0.06%. Oversold short-term technical conditions gave the Australian and New Zealand Dollars a boost early in the session, but that move was short-lived amid declines in major Asian markets. On the first trading day of the new quarter, heavy losses were recorded in China ahead of a looming deadline when tariffs from both Washington and Beijing are scheduled to take effect. In China, the Shanghai Composite fell 1.13 percent, while the smaller Shenzhen Composite lost 0.5 percent. In Australia, the S&P/ASX 200 erased early gains and hovered around unchanged. In Japan, the Nikkei 225 was down about 0.95 percent, despite a weaker Japanese Yen. Longer-term, Aussie and Kiwi investors are expressing a bearish mood because of the widening divergence between the monetary policies of the hawkish U.S. Federal Reserve and the dovish Reserve Bank of Australia and the Reserve Bank of New Zealand. Over the short-run, investors are more concerned over trade tensions between the U.S. and its trading partners, most notably China. U.S. tariffs on $34 billion of Chinese products are expected to take effect on July 6, with China set to retaliate with duties of its own on the same value of American goods. Uncertainty on trade policy and fears that retaliation could intensify to the point that domestic growth is negatively affected, have weighed on Australian and New Zealand Dollar investor sentiment in recent weeks. In other news, over the week-end, the private Caixin/Markit PMI for China came in at 51.0 for the month of June, in line with expectations. The official manufacturing Purchasing Managers Index declined to 51.5, missing expectations of 51.6 in a Reuters poll, although the figure still came in above the 50-point level indicating growth. Forecast Based on the early price action on Monday, it looks like the direction of the AUD/USD and NZD/USD will be determined by investor demand for risk. The Forex pairs are likely to remain under pressure all session as long as global equity markets continue to fall. It really doesnt matter what the story is, the driving force at this time in the markets is risk exposure. Later today, investors will get the opportunity to react to the latest economic data from the United States. At 1345 GMT, Final Manufacturing PMI is estimated at 54.6, unchanged. The major report for the day will be released at 1400 GMT. ISM Manufacturing PMI is expected to come in at 58.2, slightly below the previously reported 58.7. Story continues Also at 1400 GMT, look for reports on Construction Spending (+0.5% versus +1.8%) and ISM Manufacturing Prices (74.3 versus 79.5). The Aussie and the Kiwi will continue to be pressured if the ISM Manufacturing PMI report comes in better than expected. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast Pressured by Weaker Global Equity Markets Bitcoin Has a Potential to Reach $50,000; BitMEXs CEO Arthur Hayes Remains Bullish A Bullish Case for the USD Oil Price Fundamental Daily Forecast Pressured by Increased Saudi Production, Possible Lower Asian Demand EUR/USD Price Forecast EUR/USD Opened Dovish for the Week amid Political Conflicts in Germany Bitcoin and Ethereum Price Forecast BTC Prices Recover View comments || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 02/08/18: Bitcoin Cash fell by 0.97% on Wednesday, following Tuesday’s 4.51% slide, to end the day at $768.9.
Tuesday’s bearish moves continued into the early hours of Wednesday, with Bitcoin Cash sliding through the first major support level at $753.3 to an early morning intraday low $734.4 before finding support to move back through to $760 levels.
A second sell-off late in the day led to a pullback through the first major support level to $740 levels before recovering, leaving Bitcoin Cash at $760 levels by the day’s end, a start of the day intraday high $778.6 the first sub-$800 high since 15thJuly.
At the time of writing, Bitcoin Cash was down 0.9% to $761.5, with Wednesday’s late recovery continuing into the early hours of the day, seeing Bitcoin Cash hit a morning high $773.8 before easing back to $760 levels, the morning high steering clear of the first major resistance level at $786.87.
For the day ahead, a move back through to $770 levels would support a run at $780 levels to bring the first major resistance level at $786.87 into play, though with investors lacking any major incentives to jump back in, we will expect the day’s first major resistance level to be left untested in the day.
Failure to move back through to $770 levels could see Bitcoin Cash take a bigger hit through the afternoon, with a pullback to $750 levels bringing the first major support level at $742.67 into play, though following the recent sell-off, we will expect Bitcoin Cash to avoid sub-$740 levels in the event of a continued sell-off.
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Litecoin fell by 1.57% on Wednesday, following Tuesday’s 3.89% slide, to end the day at $77.64.
Tracking the broader market, Litecoin slipped from a start of a day intraday high $79.07 to a morning low $76.23 before recovering to $77 levels through the afternoon.
A late in the day broad based market sell-off saw Litecoin pull back to an intraday low $75.97, before rebounding to $77 levels by the day’s end, with Litecoin finding support at around the first major support level at $75.88.
At the time of writing, Litecoin was up 0.09% to $77.71, with a morning high $78.39 coming from a spill over from Wednesday’s late in the day recovery.
Falling short of the day’s first major resistance level at $79.15, Litecoin slipped back to $77 levels, with a morning low $77.49 steering clear of the first major support level at $76.05.
For the day ahead, a move back through to $78 levels would support a run at the first major resistance level at $79.15, though Litecoin’s failure to hit $80 levels on Wednesday will likely pin Litecoin back from any more material moves in the event of a broad based market rebound.
Failure to move through to $78 levels by late morning could see Litecoin slide through the morning $77.49 low to $76 levels, with any sell-off bringing the day’s first major support level at $76.05 into play before any recovery, sub-$76 support levels in play should sentiment not improve later in the day.
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Ripple’s XRP gained 3% on Wednesday, reversing Tuesday’s 2.4% slide, to end the day at $0.44833.
An early morning pullback to an intraday low $0.42516 saw Ripple’s XRP hold above the first major support level at $0.4235, with a mid-morning rally leading Ripple’s XRP to an intraday high $0.46703 before easing back, the day’s high falling short of the first major resistance level at $0.4685.
Ripple’s XRP managed to recover from an afternoon fall through to $0.43 levels, while the extended bearish trend remained intact, with Ripple’s XRP continuing to fall well short of the 23.6% FIB Retracement Level at $0.5528.
At the time of writing, Ripple’s XRP was down 0.79% to $0.44309, with a morning high $0.45024 falling short of the first major resistance level at $0.4685 before tracking the broader market into the red in the early hours.
For the day ahead, a move back through to $0.4468 would support a run at $0.45 levels, to bring $0.46 levels back into play, though following Wednesday’s trend bucking moves, sentiment will need to significantly improve for Ripple’s XRP to break through to $0.46 levels on the day.
Failure to move through $0.4468 to $0.45 levels by early afternoon could see Ripple’s XRP take a bigger hit later in the day, with a fall through to $0.43 levels bringing the first major support level at $0.4267 into play, the early pullback an ominous sign for the day ahead.
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Thisarticlewas originally posted on FX Empire
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• NEM’s XEM Technical Analysis – Resistance Tested Early – 02/08/18 || Fidelity Debuts New ETFs to Help Bond Investors: This article was originally published on ETFTrends.com. Fidelity has expanded on its factor-based lineup with two new ETFs to help fixed-income investors potentially find better value with their bond investments and better diversify a portfolio in a rising rate environment. On Thursday, Fidelity Investments launched the Fidelity Low Duration Bond Factor ETF (Cboe: FLDR) and the actively managed Fidelity High Yield Factor ETF (NYSEArca: FDHY) , which have a 0.15% expense ratio and 0.45% expense ratio, respectively. "These are two areas we know clients are looking for, and areas where we can bring insights to our clients," Greg Friedman, head of ETF management and strategy at Fidelity , told ETF Trends. "The two ETFs are smarter ways at looking at the asset class." The new fixed income and high income factor ETFs apply Fidelity’s quantitative analysis and proprietary risk management to seek sources of income to help drive better portfolio outcomes. Core Building Blocks "We want to bring products to the market that are timeless, core building blocks," Friedman added. The Fidelity Low Duration Bond Factor ETF try to reflect the performance of the Fidelity Low Duration Investment Grade Factor Index, which is comprised of U.S. investment grade floating rate notes with less than 5 years maturity and U.S. Treasury notes with 7 to 10 years maturity. The underlying index is designed to optimize the balance of interest rate risk and credit risk so that both returns and risk measures may be improved relative to traditional U.S. investment grade floating rate note indices. “With a quantitative, rules-based methodology at its core and an active liquidity overlay, Fidelity High Yield Factor ETF leverages our extensive high income capabilities to offer an enhanced exposure to the high yield market for ETF investors,” Friedman said. The actively managed Fidelity High Yield Factor ETF seeks to provide a high level of income and may also seek capital appreciation by investing in debt securities rated below investment grade. The fund uses a proprietary multi-factor quantitative model to screen over 1,000 debt securities and chooses those with strong return potential and low probability of default through a value and quality factor-based methodology. The fund uses the ICE BofAML BB-B US High Yield Constrained Index to guide the selection process of its investments as it relates to credit quality distribution and risk characteristics. Story continues “Fidelity Low Duration Bond Factor ETF is unique in its category because it seeks a balance between credit risk and interest rate risk, on top of pursuing higher income potential than a money market with lower volatility than a short-term bond fund,” Friedman added. For more information on new fund products, visit our new ETFs category . POPULAR ARTICLES FROM ETFTRENDS.COM Warren Buffett Raises $80 Million in Israel Bonds How to Bet on Upside for Hot Tech ETFs Tom Lydon Featured on Capital Allocators With Ted Seides Podcast Bitcoin: More Speculators, Fewer Investors 5 Ways to Improve Your Financial Decisions READ MORE AT ETFTRENDS.COM > || $8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls: $8,000? It's not out of the question.
With no price pullback happening in the wake of Tuesday's sudden surge, the technical charts indicate bitcoin could soon close in on this key psychological benchmark.
First, an expectedpullbackwas not without merit (the charts were looking overextended on Tuesday when the 4-hour RSI reached its highest level since 2016), but since Wednesday, the world's largest cryptocurrency has largely consolidated gains in a narrow range between $7,246 and $7,588.
Police Force Confiscates 295 Bitcoins from Criminal in UK First
As the trading range tightens and the technical indicators regain composure, the probability of bullish continuation increases. At press time, the CoinDesk Bitcoin Price Index shows bitcoin is changing hands at $$7484.06up 0.18 percent on a 24-hour basis.
Bitcoin (BTC) has been in a clear consolidation mode since the conclusion of Tuesday's rally, but the daily bias remains bullish. Price is sitting comfortably above the inverse head-and-shoulders neckline ($7,838) and three of the four important exponential moving averages (EMAs) are trending positively â maintaining the bullish view.
The 12-day and 50-day EMAs are nearing a bullish cross while the 100-day EMA is beginning to curve upward, which implies a bullish setup. What's more, the Chaikin Money Flow (CMF), an indicator used to measure buy and sell pressure, is still printing levels in bullish favor.
The 'Dark DAO' Threat: Vote Vulnerability Could Undermine Crypto Elections
A bullish rally will not be an easy feat however since heavy resistance lies in the $7,600-$7,800 range.
The resistance zone includes four strong technical hurdles:
1. Prior price resistance (Early June)
2. 100-day EMA
3. 0.5 Retracement from May high of $9,900
4. Prior pennant support turned resistance.
Another reason for bulls to proceed with caution is the RSI approaching overbought conditions. While the RSI (currently 68) is capable of reaching much higher levels (it hit 93 in December 2017), a level of just 70 halted the previous substantial bullish rally in April.
The hourly chart paints a clearer picture of the post-rally consolidation taking place.
What started as choppy hourly consolidation morphed into a pennant-like structure, composed of a "higher-low, lower-high pattern."
The pennant formation (continuation pattern) supplemented by price sitting above all four hourly EMAs and the 0.382 Fibonacci Retracement (from May high), as well as the hourly RSI beginning to trend upwards, creates a rather clear short-term bullish bias.
As the trading range continues to narrow, the closer BTC is to a breakout. A bullish rally would first likely test the larger pennant resistance (blue line) followed by the upper boundary of the resistance zone mentioned in the daily chart, $7874 (0.5 retracement).
View:
• Bitcoin's consolidation since Wednesday has allowed the overextended short-term indicators to cool off, preparing itself for another move - short-term charts suggest to the upside near $8000.
• If a bearish correction occurs, the rising hourly EMAs should provide a safety net of temporary support.
• The short-term bullish view will only be negated if price finds acceptance below the inverse head-and-shoulders neckline of $7,838.
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Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st,Âand AMP at the time of writing.Â
Image via Shutterstock; Charts byÂTrading ViewÂ
• You Can't Ban Math: Crypto Unites to Call Out Congressman
• It Took Just A Day for Tron's Founder to Win His Own Blockchain's Election || Why Is No One Talking About This Renewable Energy Stock?: There's a renewable energy stock you probably haven't been paying attention to, but the financials of the underlying business present a solid argument for taking a closer look.
Last year, it delivered revenue of $2.1 billion and grew the volume of products sold 127% compared to 2013. At the end of the first quarter of 2018, it boasted a book value of $20.80 per share, but shares are trading hands at just over $17 apiece right now -- and that's after they rose 52% year to date. That means there's still a 15% premium between the current stock price and fair book value.
However, there could be quite a bit more long-term growth ahead of the business. That's true considering its historical slow-and-steady expansion, but also when investors factor in a recent proposal from the U.S. Environmental Protection Agency that would increase the company's U.S. market opportunity 16% beginning in 2020. A global shipping fuel standard that goes into effect then should provide an even bigger growth opportunity. Those are just some of the reasons investors might want to get familiar withRenewable Energy Group(NASDAQ: REGI).
Image source: Getty Images.
In 2017, Renewable Energy Group sold 503 million gallons of renewable fuels, approximately 20% of all biomass-based diesel fuel sales in the United States. Meanwhile, a focus on expanding its national terminal and distribution network allowed it to increase sales of petroleum-based fuels to 83 million gallons last year, which represented year-over-year growth of 54% and provides an important avenue for it to diversify revenue. The company also boasted a diverse customer mix, with 36% of sales going to retail customers, 34% to oil majors, and 20% to distributors.
That level of production and diversification makes it possible for investors to entertain the possibility of profitable operations with or without the all-important federal tax subsidy called the Biodiesel Mixture Excise Tax Credit (BTC). The BTC provides $1 per gallon of biodiesel to the first company that blends it with petroleum-based fuels. That's usually the biodiesel producer. And thanks to Renewable Energy Group's impressive output, the tax credit can deliver healthy profits -- when the credit is active.
Unfortunately, that's usually a problem. Congress has allowed the federal subsidy to expire in 2010, 2012, 2014, 2015, 2017, and 2018. While the BTC has been retroactively reinstated each time (it's still not in place for 2018), Wall Street has kept shares of the renewable fuels leader chronically undervalued due to the constant uncertainty.
Image source: Getty Images.
For instance, Renewable Energy Group reported a net loss of $79 million in 2017 without any help from the BTC. But that included a one-time $50 million asset impairment charge for a biodiesel facility that never finished construction. It also excludes the$205 million windfallreceived from the retroactive reinstatement of the 2017 BTC earlier this year, which was recorded in the first quarter of 2018. Squint your eyes so the tax credit shows up in 2017 financial statements -- the year the fuel attached to it was actually produced -- and the business would have reported $230 million in adjustedEBITDAlast year.
Soon enough, the status of the BTC may not matter in determining whether or not the business posts a profit, but rather how high a profit it posts.
Renewable Energy Group is positioning itself to achieve profitable growth with or without federal tax credits. The strategy includes constantly introducing new technologies at biodiesel manufacturing sites to lower production costs, expanding its high-margin renewable diesel footprint, and growing its distribution network to provide opportunities to sell petroleum-based fuels, too. The company has a track record of making investments with high return on invested capital, and the current capital projects are no different.
[{"Metric": "Capital expenditures, total", "Planned Upgrades for Biodiesel Facilities": "$60 million to $65 million", "Planned Upgrades for Renewable Diesel Facility": "$100 million to $110 million"}, {"Metric": "Estimated incremental production, annual", "Planned Upgrades for Biodiesel Facilities": "30 million to 40 million gallons", "Planned Upgrades for Renewable Diesel Facility": "35 million to 45 million gallons"}, {"Metric": "Estimated incremental adjusted EBITDA, annual", "Planned Upgrades for Biodiesel Facilities": "$30 million to $35 million", "Planned Upgrades for Renewable Diesel Facility": "$30 million to $35 million"}]
Data source: Renewable Energy Group investor presentation.
If the planned upgrades deliver on-budget and incremental production of fuel and profits, then Renewable Energy Group will be well on its way to achieving profitable operations without the BTC. That doesn't even include the continued expansion of petroleum-based fuel sales, or two important catalysts that will arrive in 2020.
First, the U.S. EPA has proposed increasing the amount of biomass-based diesel that must be blended into the nation's supply of transportation fuels, from 2.1 billion gallons in both 2018 and 2019 to 2.43 billion gallons in 2020. That would mark a 16% increase from this year's levels and a 49% increase from 2014 obligations. That could increase selling prices or tip the company's hand in investment decisions, either regarding new acquisitions or restarting construction at uncompleted production facilities.
Second, the International Maritime Organization (IMO), which sets marine standards for over 170 countries, recently decided to reduce sulfur content in marine fuels from 3.5% to 0.5% beginning in 2020. Considering that marine fuels are a 4 million-barrel-per-day market, the change is expected to result in a step-wise increase in demand for cleaner-burning distillate fuels such as diesel and, therefore, biomass-based diesel. Some estimates predict that global annual diesel consumption will grow by 25 billion gallons when the new sulfur limits are implemented.
Image source: Getty Images.
Renewable Energy Group's biodiesel and renewable diesel operations might not be as sexy as solar panels or wind turbines, butWall Street is finally warming upto their growth potential. The company has quietly delivered growth and executed on its long-term strategy year after year. That has positioned the company to be oh-so-close to achieving profitable operations with or without the BTC.
If the company can achieve the expected incremental adjusted EBITDA growth from new projects in the next year or so, then it could be ready to capitalize on the two huge catalysts expected to come into force in 2020. And if the BTC remains in place, even retroactively, then Renewable Energy Group shares could be poised to continue their run. That's why I think investors should at the very least keep an eye on this renewable energy stock.
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Maxx Chatskohas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || OTC is Much Larger Than Bitcoin Exchange Volume: Where Real Whales Trade: bitcoin whale TABB Group, an international research company, has disclosed in its extensive analytical report that the over-the-counter (OTC) market of bitcoin is significantly larger than the global bitcoin exchange market. OTC Versus Exchanges: Whales Against Retail Traders For many years, the majority of bitcoin analysts predicted billions of dollars to be traded on a regular basis in the OTC market, by billionaire investors, institutions, and miners. While cryptocurrency exchanges like Coinbase, Binance, Huobi, OKEx, and UPbit process hundreds of millions of dollars worth of trades every day, the liquidity on these platforms are not sufficient to process multi-billion dollar buy and sell orders. The lack of liquidity on major exchanges is the first amongst many other issues that could emerge in processing large trades for high profile investors. Selling hundreds of millions of dollars of bitcoin on a public exchange in a short period of time could crash the market, especially if there are not enough buy orders set in place to liquidate large sell orders. bitcoin price As such, billionaire traders and institutions have relied on the OTC market to buy and sell batches of bitcoin and other cryptocurrencies like ether, mostly from miners and other major investors. This week, TABB Group claimed that the OTC market of bitcoin is at least two to three times larger than exchange market. Given that the bitcoin exchange market processes around $4 billion worth of trades per day, if the TABB’s assessment is accurate, the OTC market of bitcoin is processing more than $12 billion worth of trades on a daily basis. Eric Wall, a cryptocurrency researcher, said : “Just read an estimate from the TABB Group (in a $5,000 report) that OTC crypto markets exceed exchange volumes by 2-3x. That would mean 1 to 1.5 million BTC is traded OTC daily. Strange it’s not visible on the blockchain, which shows a meager 100,000 a day.” Monica Summerville, a senior FinTech analyst at Tabb Group, explained further that the research firm was able to obtain the $12 billion number based on interviews and evaluation of the market. Story continues “Our reports are based on interviews and with participants in markets, cover more than BTC and keep in mind that not all transactions show up on public blockchains as many venues omnibus accounts so only net changes to their positions will be written to public blockchain,” she said. What Does This All Mean? The movement of the cryptocurrency exchange market is unpredictable and the market often demonstrates an extreme rate of volatility. Even major digital assets like bitcoin and ether tend to move 3 to 10 percent on a daily basis on both the upside and downside. If the bitcoin exchange market only accounts for 25 percent of the actual volume of the dominant cryptocurrency, it is that much more difficult to find the cause of the movements of BTC and other cryptocurrencies. For instance, on July 17, many analysts attributed to the fall in the price of bitcoin from $8,300 to $7,800 to the rejection of the Winklevoss bitcoin exchange-traded fund (ETF). However, it is entirely possible, given the sheer size of the OTC market, that the drop was caused by a sell-off of a major investor outside of the bitcoin exchange market. Featured Image from Shutterstock The post OTC is Much Larger Than Bitcoin Exchange Volume: Where Real Whales Trade appeared first on CCN . || AUD/USD Price Forecast Aussie continues to find support just below: Theres the obvious gold market correlation with the Australian dollar that you should be paying attention to, just as there is the obvious correlation with the US dollar itself as it is half of the equation. Looking at this chart, we are decidedly in a downtrend, theres probably no way to argue that. Overall, I anticipate that the market will continue to sell on rallies, but in the short term it looks as if we could be getting ready to form a bit of a bounce. This will be exacerbated by any type of risk on move in the equity markets around the world, and of course commodities. The destruction cause to the Australian dollar due to trade tariffs between the United States and China cannot be understated though, as Australia supplies China with so many of its raw materials for construction, and of course manufacturing. With that in mind, pay attention to the headlines, but if things stay relatively quiet, I suspect that there is a bounce coming in this pair. The alternate scenario of course is that if we break down below the vital 0.7350 level, the market is probably going to continue to go lower over the longer-term. I think the one thing you can count on is volatility, and its only a matter of time before it picks up yet again. AUD/USD Video 22.06.18 This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash, Litecoin and Ripple Daily Analysis 22/06/18 Crude Oil Price Forecast choppiness continues on Thursday as we await OPEC EUR/USD Price Forecast Euro rallies on Thursday after touching major support Gold Price Forecast Gold markets continue to show weakness on Thursday AUD/USD Price Forecast Aussie continues to find support just below Price of Gold Fundamental Daily Forecast Investors Finally Showing Some Reaction to Geopolitical Events || GLOBAL MARKETS-Asian stocks bounce as China turns up on hopes of policy support: * MSCI Asia-Pacific index up 1 percent
* China markets build on gains as regulators seek to calm markets
* Nikkei up 1.2 pct, Kospi gains 1 pct
* Bitcoin down 1.9 pct after S. Korea exchange hacked
By Andrew Galbraith
SHANGHAI, June 20 (Reuters) - Asian stock markets bounced on Wednesday following a wobbly morning session that highlighted the lingering anxiety and uncertainty surrounding a heated trade dispute between China and the United States.
Markets in Europe and the U.S. looked set to follow Asia higher. S&P 500 futures were 0.2 percent higher and Dow Jones futures gained 0.5 percent.
Financial spreadbetters expected London's FTSE to open 15 points higher, Frankfurt's DAX 5 points up and Paris' CAC 13 points higher.
In Asia, bargain hunters turned out to pick up shares on the cheap after the previous day's rout. The MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1 percent, after Tuesday's 2.1 percent tumble, supported by an afternoon rebound in Chinese shares. Japan's Nikkei was up 1.2 percent after falling into negative territory earlier in the day. South Korea's KOSPI rose 1 percent.
In China, markets turned losses into gains as investors appeared to take heart from indications of government support.
The Shanghai Composite Index was 0.5 percent higher a day after falling 3.8 percent to a two-year low.
China's blue-chip CSI300 index gained 0.6 percent, and the Shenzhen Composite Index rose 1.4 percent.
Hong Kong's Hang Seng index was 1.1 percent higher after closing down 2.8 percent on Tuesday. The China Enterprises Index reversed losses from the morning session, rising 0.4 percent.
In a working paper on Tuesday, China's central bank said the country should cut banks' reserve requirement ratios (RRR) to boost market liquidity, highlighting concerns over trade, a day after the central bank governor urged investors to remain calm.
"It is fair to say an RRR (cut) seems imminent ... the only question is the magnitude," Sue Trinh, head of Asia FX Strategy at RBC Capital Markets in Hong Kong said in a note.
An apparent bias toward looser policy "runs counter to the regional bias toward higher rates to protect currency downside," she said, adding that growing policy divergence indicates room for the onshore and offshore yuan to depreciate.
The bounce in share markets comes despite trade tensions between the United States and China showing few signs of easing. On Tuesday, a White House trade adviser said that Beijing has underestimated the U.S. president's resolve to impose more tariffs.
Washington threatened on Monday to impose a 10 percent tariff on $200 billion of Chinese goods after Beijing decided to raise tariffs on $50 billion in U.S. goods, in response to similar tariffs on Chinese goods announced Friday.
Nevertheless, the yield on benchmark 10-year Treasury notes rose to 2.9022 percent on Wednesday afternoon after earlier falling to 2.8820.
The two-year yield, which rises with traders' expectations of higher Fed fund rates, was at 2.5535 percent.
AUSTRALIA CATCH-UP RALLY
Australian stocks, which saw strong buying throughout the day, ended 1.2 percent higher, supported by a weak local dollar. The Aussie dollar rose 0.2 percent after hitting a one-year low on Tuesday.
A more attractive dividend proposition and a weaker Australian dollar have made the market more alluring to overseas investors, said Ryan Felsman, a senior economist at CommSec.
"Last year the Aussie market was only up 7 percent relative to the US at 25 percent. We didn't get the sugar hit from the corporate tax plan, so there's a bit of catch-up in play as well," he said.
The US dollar was slightly stronger against the yen, rising 0.05 percent to 110.10.
The euro was 0.1 percent lower at $1.1576, while the dollar index, which tracks the greenback against a basket of six major rivals, was flat at 95.096.
U.S. crude rose 0.6 percent to $65.43 a barrel, supported by a drop in U.S. commercial crude inventories. But analysts said trade concerns and disagreements within the Organization of the Petroleum Exporting Countries over boosting supply continue to loom over the market.
Iran said on Tuesday that OPEC was unlikely to reach a deal on oil output this week.
Gold was flat after falling near six-month lows Tuesday on a strong dollar. Spot gold was traded at $1273.91 per ounce.
Investors in cryptocurrencies were also hit by losses after South Korean virtual currency exchange Bithumb said it had been hacked and $32 million worth of virtual currency held at the exchange was stolen.
Bitcoin was 1.9 percent lower at $6,607.00.
(Reporting by Andrew Galbraith Editing by Sam Holmes & Shri Navaratnam) || Why Disney Was the Biggest Loser From the AT&T-Time Warner Merger Court Win: AT&T 's (NYSE: T) victory in its lawsuit to buy Time Warner (NYSE: TWX) can best be described as a rout. Not only did the company win an unconditional victory, giving up nothing to the federal government, but the U.S. District Court judge harshly weighed in on some government arguments, notably calling one "poppycock." It appears the federal government overplayed its hand. By throwing in all of its chips and filing a lawsuit instead of working cooperatively with AT&T and Time Warner, it weakened its hand to police future mergers, particularly vertical mergers. However, the biggest loser in this decision is not the Trump administration, but rather The Walt Disney Company (NYSE: DIS) . Here's why. A gavel resting on top of some American paper money. Image source: Getty Images. Why Comcast was interested in this lawsuit At one point considered a fait accompli , Disney's purchase of the movie studio, television networks, and regional sports assets of Twenty-First Century Fox for $52.4 billion is now less certain due to competition from Comcast (NASDAQ: CMCSA) . Before the decision, it was widely reported Comcast wanted Fox's assets but refrained from making a formal bid, fearing the Trump administration's ire. After the ruling, it made its bid. The government's main argument against the AT&T-Time Warner merger was that vertical integration -- letting the same company own substantial delivery and content assets -- would result in higher prices for consumers. In many ways, this looked like trying to litigate Comcast's acquisition of NBCUniversal and its host of television networks from General Electric during the Obama administration. Now that the government's case has been dismissed, and harshly so, Comcast is on a mission to grow its content operations via acquisitions without fear of government reprisal, starting with Fox's assets. The cost to Disney? Perhaps more than $12 billion if it increases its bid for the Fox assets to top Comcast's $65 billion offer. Story continues Disney will win a bidding war, but at what cost? It's my opinion that Disney will win the right to Fox's assets. First, the assets are a better fit, which matters to large shareholder and Fox founder Rupert Murdoch, as he built many of these assets from the ground up and would become a major shareholder in Disney if the deal closes. Disney CEO Robert Iger has perhaps the best track record ever of integrating studio assets -- Pixar, Marvel, and Lucasfilm have all been acquired with Iger at the helm -- and having rights to the full (except for Spider-Man) Marvel Cinematic Universe is worth potentially billions more to Disney, due to deeper story lines and reunited characters. Having to compete with deep-pocketed Comcast may result in the "winner's curse" -- an economic term denoting the tendency for a winning auction bid to exceed the true value of the assets won. In the end, I don't expect that to happen due to Iger's amazing track record with studio acquisitions, but it's more likely now that Comcast is pushing up Fox's price. For Disney shareholders, an inked deal could result in short-term stock suppression as Disney seeks an all-stock deal. If Comcast forces the price of Fox's assets $12 billion to $20 billion higher, this would increase Disney's shares outstanding by 7.5% to 12.5%. Remember, this is on top of the 33% increase from the base-case scenario that Comcast would hold its fire and not bid on Fox's assets. The upshot is: Although the government may have lost the court case, Disney's the entity that will pay the price...literally. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jamal Carnette, CFA , owns shares of AT&T; and General Electric. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool has a disclosure policy .
[Random Sample of Social Media Buzz (last 60 days)]
@Bitcoin_price_8 || @Bitcoin_Stats || @BTC_INFOCHAIN || Vitalik Buterin on Bitcoin ETF: Too Much Investment, Not Enough Usage https://www.cryptorush.asia/vitalik-buterin-on-bitcoin-etf-too-much-investment-not-enough-usage/ … || @Bitcoin_Post || @BTC_INFOCHAIN || @lifeoncoin || @btc_reddit || @lifeoncoin || @Bitcoin_price_8
|
Trend: down || Prices: 6951.80, 6753.12, 6305.80, 6568.23, 6184.71, 6295.73, 6322.69, 6297.57, 6199.71, 6308.52
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
California's Water Crisis Draws Investors: As California struggles through a four-year drought that has left the state in dire need of both better water controls and a more efficient way to supply its residents, many investors are beginning to look for ways to capitalize on the growing demand for companies that can conserve and transport water.
Infrastructure
After Governor Jerry Brown declared astate of emergencyin January, the state began to focus its efforts on conservation and educating residents on ways to save the precious resource.
Related Link:California Drought Lesson: Do Not Take Water Supply For Granted
Since then, there has been a push in many communities to install water meters that measure the amount of water a particular residence is using. Companies that manufacture and install water meters, likeMueller Water Products, Inc.(NYSE:MWA) andBadger Meter, Inc.(NYSE:BMI), are likely to see a jump in sales as conservation takes priority.
Desalination
While the environmental effects and sky-high costs of desalination have kept California from investing heavily in making sea water drinkable, many believe the state will eventually resort to more reliance on plants that do just that.
For that reason, long-term investment in companies likeXylem Inc(NYSE:XYL), which manufacture the equipment needed for desalination, could be a smart play.
Energy
Some investors are thinking outside the box and looking to alternative energy companies as the drought forces California to rely less on hydropower.
Many see solar as a great alternative, especially in California where sunshine is plentiful. For that reason, investors are looking toSolarCity Corp(NASDAQ:SCTY), the state's largest rooftop solar panel installer.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 21 Inc. Finally Reveals Its Secretive Product: A Bitcoin Mining Chip: Back in March,bitcoinenthusiasts were abuzz with speculation about what21 Inc.might be working on.
The cryptocurrency startup was able to secure upwards of $110 million in fundraising from a spate of big name investors likeQUALCOMM, Inc.(NASDAQ:QCOM) and PayPal co-founder Peter Thiel.
However, the company has been secretive about what it had been working on – until now.
A New Kind Of Chip
On Monday, the companyrevealedthat it will roll out an embeddable chip that allows users to mine bitcoins from their wireless devices.
The chip is designed to verify transactions while running as a background process, thus providing the user with a "continuous stream of digital currency."
Related Link: Solving Bitcoins Scalability Problem
Integrating Bitcoin Into The IoT
21 Inc. says its chip wasn't designed as a way to make people rich, but instead the company says it's more focused on integrating the cryptocurrency into the Internet of Things (IoT) and creating a micropayment scheme.
Micropayment Device
The chip, called BitShare, can consolidate, what 21 Inc. expects to be, a large number of micropayments, as the Internet of Things gains traction. Instead of customers paying for each individual service, they can install a BitShare chip and pay for the fees associated with things like connected lightbulbs or automated fire alarms using their mined bitcoin.
The company says it eventually hopes to use the technology to make having a smartphone more attainable in developing countries by subsidizing some of the costs through bitcoin mining.
Related Link: Bitcoin: Making Progress In Europe
Is The Chip Worth It?
The chip marks a big development for the bitcoin community, but it isn't without criticism.
Many worry about the feasibility of such a product, as it is likely to use a great deal of data and could significantly reduce the battery life of a smartphone. Some say consumers will be unwilling to sacrifice those things for the comparatively small reward, which may be just a few cents worth of bitcoin.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || UK Takes The Spotlight With Uncertain Elections Looming: Although Greece's debt drama has been paramount for investors over the past few months, this week may see more of a focus on what has historically been one of the most stable economies in Europe— the UK.
On Thursday, the region will hold its national elections which have set up afierce battlebetween its Labour and Conservative parties.
A Close Race
Opinion polls in the past weeks have shown that both parties are neck and neck, something many believe will end with neither gaining an overall majority when the vote is over.
Investors are beginning to worry that the May 7 election could end with a hung parliament and a possible multi-party coalition.
UK Position In Eurozone At Stake
The Conservative party has promised to hold a referendum on the UK's membership in the European Union if elected into power.
Although most surveys suggest that the British population is in support of remaining a part of the EU, a referendum vote could have a negative impact on the region's market.
Related Link:U.S. Tech Firms Prepare To Go To Battle
Scottish National Party Gains Ground
Polls have shown that the Scottish National Party is on track to win a sweeping majority of Scotland's seats in parliament, making the group a powerful ally for the Labour Party.
Representatives from the SNP have voiced their willingness to form a coalition government with the Labour party, but say they would refuse to partner with the Conservatives. This is another concern for markets as it could reignite bitter feelings from last year's Scottish independence vote.
No Right Answer
No matter this week's outcome, most expect to see UK markets take a beating in the days following the election. Because of the fragmented nature of this year's vote, a decisive outcome is considered very unlikely.
For that reason, investors will be on edge about the region's future, which could drive the pound and the FTSE lower.
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• Tesla's New Battery Could Save Money For Pot Growers
• Bitcoin Goes To The Movies
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 21 Inc. Finally Reveals Its Secretive Product: A Bitcoin Mining Chip: Back in March,bitcoinenthusiasts were abuzz with speculation about what21 Inc.might be working on.
The cryptocurrency startup was able to secure upwards of $110 million in fundraising from a spate of big name investors likeQUALCOMM, Inc.(NASDAQ:QCOM) and PayPal co-founder Peter Thiel.
However, the company has been secretive about what it had been working on – until now.
A New Kind Of Chip
On Monday, the companyrevealedthat it will roll out an embeddable chip that allows users to mine bitcoins from their wireless devices.
The chip is designed to verify transactions while running as a background process, thus providing the user with a "continuous stream of digital currency."
Related Link: Solving Bitcoins Scalability Problem
Integrating Bitcoin Into The IoT
21 Inc. says its chip wasn't designed as a way to make people rich, but instead the company says it's more focused on integrating the cryptocurrency into the Internet of Things (IoT) and creating a micropayment scheme.
Micropayment Device
The chip, called BitShare, can consolidate, what 21 Inc. expects to be, a large number of micropayments, as the Internet of Things gains traction. Instead of customers paying for each individual service, they can install a BitShare chip and pay for the fees associated with things like connected lightbulbs or automated fire alarms using their mined bitcoin.
The company says it eventually hopes to use the technology to make having a smartphone more attainable in developing countries by subsidizing some of the costs through bitcoin mining.
Related Link: Bitcoin: Making Progress In Europe
Is The Chip Worth It?
The chip marks a big development for the bitcoin community, but it isn't without criticism.
Many worry about the feasibility of such a product, as it is likely to use a great deal of data and could significantly reduce the battery life of a smartphone. Some say consumers will be unwilling to sacrifice those things for the comparatively small reward, which may be just a few cents worth of bitcoin.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Shop Makes $1.5m Strategic Investment in Spondoolies-Tech: ARLINGTON, VA--(Marketwired - May 18, 2015) -Bitcoin Shop, Inc.(OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology company that engages in transaction verification services, announced today that it has invested $1.5m intoSpondoolies-Tech Ltd("Spondoolies"), a transaction verification server manufacturer. BTCS' investment in Spondoolies comes on the heels of the announcement of the intention for BTCS and Spondoolies to merge (April 28, 2015) and is serving as the first integral step of the planned merger. Together, the two companies will create the world's first publicly traded company to produce Bitcoin transaction verification equipment and deploy Bitcoin mining resources.
Under the terms of the definitive investment agreements, BTCS purchased a 6.6 percent equity interest in Spondoolies, and received certain exclusivity rights and pricing for current and future Spondoolies' products as well as a $1m breakup fee, in case the planned merger between BTCS and Spondoolies is not consummated. The investment in Spondoolies was based on a pre-money valuation of approximately $21.2m. Based in Kiryat Gat, Israel, Spondoolies-Tech is the premier developer of Bitcoin transaction verification servers. Launched in August 2013, Spondoolies is Israeli venture backed and has shipped thousands of servers to customers around the world in the past year.
The terms of the planned merger between BTCS and Spondoolies are a merger of equals. Upon closing, the parties will equally share the dilution resulting from BTCS' April 22, 2015 $2.3m financing. Charles Allen will serve as the merged entity's CEO and Chairman and Guy Corem, Spondoolies CEO and cofounder, will serve as a board member and executive officer. Additionally, Yuval Rozen will serve as BTCS' CFO. The merger is subject to a number of conditions, including satisfactory completion of diligence and execution of definitive agreements. There can be no assurance that the conditions to closing will be satisfied or merger will be completed.
BTCS' Chairman and CEO Charles Allen, who will lead the new company, said that the planned combination of the two companies represents a new force in the evolving blockchain industry. "This is a powerful merger as the technologies of the two companies are clearly very complementary and stand to produce immense revenue growth while delivering value to customers, shareholders, and employees."
"We are excited to begin our partnership with BTCS and appreciate their support during a transformative part of our company's growth," said Spondoolies CEO, Guy Corem. "We believe this new relationship will ensure our ability to continue development and production of innovative and high quality products, targeted mainly for internal use of the merged company but also to deliver the highest quality bitcoin mining equipment for our transaction verification services."
About BTCS:BTCS is a blockchain technology company that provides transaction verification services for digital currency. BTCS is building a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. BTCS continues to actively partner and integrate with strategic digital currency technology companies who provide products or services that are complementary to its business strategy. BTCS operates its public beta site (www.btcs.com) where consumers can purchase products using digital currency such as bitcoin, litecoin, and dogecoin, by searching through a selection of over 250,000 items. For more information visit:www.btcs.com
About Spondoolies-Tech:Founded in 2013 by a group of Israeli high-tech veterans, Spondoolies is a transaction verification server manufacturer. Spondoolies raised ten million dollars in capital from leading Israeli venture capital firms and assembled a team of leaders in the Israeli Semiconductor industry, with the goal of building the infrastructure on which digital currencies will flourish. Building bitcoin transaction verifying servers from the bottom up, Spondoolies is producing machines that are designed for efficiency and performance. During 2014, Spondoolies successfully launched five different products.
Forward-Looking Statements:Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || It's no secret, 'Secret' is no more: Secret, a messaging app that allowed users a veil of anonymity, has closed it’s doors. In the highly competitive worlds of Silicon Valley and venture capital it wasn’t exactly an all-star. Valued at $100 million at it’s peak, it never broke into the higher echelons of the tech startup world.
“I’m not sure it’s too big of a tragedy for the venture capital world that this app didn’t work out,” says Yahoo Finance Technology Reporter Aaron Pressman. “I’d also like to say, just as the parent of teenagers, I’m kind of glad to see this app go. It had a lot of problems and it’s kind of a thing where people can anonymously bully each other and pick on each other. I’m not gonna miss it”
Still, the way in which founders David Byttow and Chrys Badershuttered the companyis a bit unique. Rather than taking the VC money and “pivoting” to a new business using the apps existing infrastructure, they gave the money back.
Get the Latest Market Data and News with the Yahoo Finance App
It’s a move many inside the company saw coming several months ago. “When they raised their last round the founders sold their shares,” notes yahoo Finance’s Aaron Task. “That was a signal to the other employees at the company [that] these guys aren’t really committed to Secret.”
In factaccording to the New York Times’ accountof Secret's final chapter, David Byttow took his share of the cash made from selling a stake in the company and bought a Ferrari. Many of the employees found out about it all...anonymously on Secret.
“That was really a death knell to the company,” Task says, noting that many of the company’s engineers jumped ship for more competitive jobs peppered throughout the Valley.
More from Yahoo FinanceGoldman Sachs buys into Bitcoin and McDonald's new DIY burgerBudweiser's 'no' must go: social mediaUber now drops off food, not just people || Lucrazon Global Helps Merchants by Integrating Cryptocurrency With Bitcoin Payment Acceptance: IRVINE, CA--(Marketwired - May 4, 2015) - California-based Lucrazon Global ( http://www.lucrazonglobal.com/ ), a fully integrated Ecommerce platform and Global Business Network designed specifically for Internet entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type, reinforces its services offered by accommodating encrypted digital currency Bitcoin payments. The integration of Bitcoins aims at protecting merchants from online fraud and other threats, and comes shortly after Californian Governor, Jerry Brown, passed a bill to approve Bitcoins as a legitimate form of currency for financial transactions in the state (source: http://cointelegraph.com/news/113235/bitcoin-becomes-legal-tender-for-transactions-in-california ). Cryptocurrency is a form of digital currency that is managed and utilized with the help of encryption techniques such as cryptography (source: http://www.investopeia.com/articles/forex/091013/future-cryptocurrency.asp ). The technology is increasingly popular among ecommerce vendors who use it to process transactions and verifications with the help of networks. After initial security hiccups, Federal Reserve recently declared it a trustworthy alternative to paper money. The fact that cryptocurrency is irreversible allows Lucrazon Global to protect paying customers against chargebacks -- a type of fraud that is possible through more conventional transaction methods like credit card payments. Lucrazon Global's introduction of the encrypted currency comes at a favorable time that holds a lot of potential for international merchants in circumventing certain risks: According to an annual report by LexisNexis merchants incurred a loss of about $3.4 billion in 2011 through online fraud alone (source: http://btctheory.com/2013/10/30/fraud-chargebacks-and-Bitcoin/ ). Alex Pitt, CEO of Lucrazon Global , knows that chargebacks have been the bane of ecommerce ventures for years. These can be filed against a customer's billing statement on his credit card if a charge is disputed. Since there are no chargebacks in cryptocurrency, Lucrazon Global's incentive is designed to protect merchants from such malicious schemes thereby keeping transactions secure. Story continues Bitcoins are originally bought from exchange companies by investors and traders by using valuable currencies. Online businesses that utilize the technology require customers to store the digital funds in online storage software such as eWallets, on their PCs, or on the web. Payments with the currency are enabled through "Pay with Bitcoin" options on these sites. In 2013, Bitcoins grew exponentially and have become a preferred currency for several types of ecommerce transactions. A number of online stores have adopted the currency as their payments of choice. Brands who have gotten on the Bitcoin trend include Target, Victoria's Secret, the car company Tesla, Zynga, Apple's App Store, Home Depot, Wikipedia, and Subway to name a few (source: http://www.Bitcoinvalues.net/who-accepts-Bitcoins-payment-companies-stores-take-Bitcoins.html ). By offering Bitcoins as a payment option, Lucrazon Global now introduces the cryptocurrency to smaller stores and businesses. A fully integrated e-commerce platform and Global Business Network, Lucrazon Global is designed specifically for Internet Entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type. Specializing in providing multi functional websites such as ecommerce stores, the company offers solutions like product inventories, integrated shopping carts, drop shipments, access to multiple suppliers, and real time account activation. The company has become a leader in ecommerce solutions by working closely with suppliers, manufactures, fulfillment centers centralizing opportunity making it simple for anyone to become an online business professional. For more information or to become a Brand Partner, visit: http://www.lucrazonglobal.com/ Lucrazon Global's blog: http://lucrazonglobalnews.com/ Lucrazon Global Facebook: https://www.facebook.com/LucrazonGlobal Lucrazon Global - Twitter: https://twitter.com/lucrazon Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2815608 Embedded Video Available: http://www2.marketwire.com/mw/frame_mw?attachid=2815611 || Circle Attracts Goldman Sachs To The Bitcoin Space: Circle Internet Financial, a bitcoin-based startup, confirmed rumors that it was in the midst of a large fundraising effort this week after theNew York Timesreported that the company received a generous sum from financial giantGoldman Sachs(NYSE:GS).
The news brought a great deal of attention to the cryptocurrency and gave investors a reason to take a second look at Circle now that it had the backing of a major player in the finance space.
Goldman Sachs Takes An Interest
Goldman Sachs announced on Wednesday that it had partnered with China's IDG Capital Partners to lead a $50 million investment into Circle.
The funds are expected to be used by Circle executives to further the company's mission— to improve the bitcoin payments system. Circle plans to make peer to peer exchanges faster, easier and more cost effective using bitcoin.
Related Link:Bitcoin Security Conference Planned For May 2015
Bitcoin Businesses Present New Opportunities
Goldman Sachs' investment marks a growing interest in the technology that powers bitcoin.
While investors have been wary of the cryptocurrency itself due to its erratic swings in value, more and more firms have taken an interest in smaller companies that are creating platforms with which to use bitcoin.
The idea of sending money across boarders instantly and with a minimal cost has proven to be a unique opportunity for finance firms, who may soon need to compete with small startups like Circle as they gain popularity.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin comes to America: Now, with regulated exchange: itBit has become America’s first national regulatory-compliant BitCoin exchange. On Thursday, the exchange received approval from New York State regulators to form a trust. It can now accept customers from anywhere in the U.S. Charles “Chad” Cascarilla, CEO of itBit, tells Yahoo Finance’s Aaron Task in the video above that the approval is a big deal because he believes customers can now feel more comfortable with the virtual currency. “We’re regulated. We hold regulatory capital,” he says. “We have regulatory exams and we have someone who is doing oversight of the exchange and can make customers feel as if there is someone else who is looking over what we are doing and making sure customers are in good shape,” he explains. itBit was originally headquartered in Singapore but moved its main operations to New York last year. “We have spent a lot of time here in the last three years, building our exchange, really making sure that we could test everything that we are doing.” itBit has been operating outside the United States for the last 16 months. On the move to the U.S. and New York state approval, Cascarilla says, “The approach we have taken is, ‘Let’s ask for permission. Let’s not ask for forgiveness.’” The approval as a trust supersedes the exchange as solely a form of money transmission as has been the case with other Bitcoin exchanges because, Cascarilla says, it's now “organized under New York banking law. This is a very sophisticated way of being regulated… It’s a totally different licensing and regulatory regime.” Bitcoin has had a rough go lately. The virtual currency fell more than 60% in 2014, and saw the bankruptcy of one of its biggest exchanges, Mt. Gox, after its computer system was hacked. 2015 didn't start much better in terms of price, which at one point was more than 80% below its 2013 high. “Mt. Gox was totally unregulated. They were operating as best they could at the time,” says Cascarilla. “And again bitcoin is still in its early stages. And inevitably, in its early stages, you have some pitfalls and hiccups,” he says. Story continues But now interest in the virtual currency may be gaining momentum. Last month, Goldman Sachs ( GS ) and Chinese investment firm, IDG Capital Partners, invested $50 million in Circle Internet Financial, a start-up that uses Bitcoin technology to allow customers to digitally store and transfer money. Earlier this year, the New York Stock Exchange invested in Coinbase, a Bitcoin trading platform. And in January, the Winklevoss twins launched another exchange called Gemini. Get the Latest Market Data and News with the Yahoo Finance App Cascarilla hopes itBit will lead the way because its new regulatory status will allow more sophisticated customers to use the exchange. itBit has hired a chief compliance officer from eBay ( EBAY ). And it boasts board members like former FDIC Chair Sheila Bair, former U.S. Senator Bill Bradley and former Financial Accounting Standards Board Director Robert Herz. As for funding, Cascarilla says itBit recently raised $25 million in capital, for a total of $32 million to date. “We have more capital than any other exchange in the Bitcoin world and that’s an important item for soundness and safety as well,” he says. More from Yahoo Finance Some unhappy news about Medicare and Social Security How your financial adviser may be ripping you off Nobel prize-winner Stiglitz: Three steps to solve income inequality || STOCKS GO NOWHERE: Here's what you need to know: Car stuck (REUTERS/Jonathan Alcorn ) Stocks were all over the place on Tuesday. The S&P 500 and the Dow rallied above the record highs set on Monday, and slid in the final 90 minutes of trading. But the Dow rebounded to make a new record high. First, the scoreboard: Dow: 18,312.39, +13.51, (0.07%) S&P 500: 2,127.83, -1.37, (-0.06%) Nasdaq: 5,070.03, -8.40, (-0.17%) And now, the top stories on Tuesday: In economic data, housing starts surged to the highest level since November 2007 . Starts rose 20.2% in April to an annualized pace of 1.135 million, crushing expectations for a 9.6% rise to an annualized rate of 1.01 million. Building permits rose 10.1% to an annualized pace of 1.143 million, versus forecasts for a 2.1% rise to an annualized pace of 1.06 million. "The uptick in mortgage rates over the last month will be a headwind going forward," wrote Nomura analysts in a note. "However, today's data reinforce our basic view that housing will contribute to stronger growth this year and that we should expect stronger growth in the US going forward." US government bonds sold off. As their prices fell, yields rose; the yield on the benchmark 10-year Treasury note climbed to a year-to-date high of 2.303%, a rise of about 5 basis points. The long 30-year bond yield also rose about 5 basis points to as high as 3.09%. West Texas Intermediate crude oil fell more than 3.5% to as low as $57.95 per barre l. The American Petroleum Institute is due to report on US crude stockpiles after the closing bell, and the Energy Information Administration will release its tally on Wednesday. Inventories have declined in the past few weeks. Over the weekend, Goldman Sachs slashed its price forecast for the next five years. The New York Stock Exchange has launched a bitcoin index . NYXBT will reflect data from the Coinbase bitcoin exchange, which the NYSE made a minority investment in earlier this year. The NYSE said in a statement: "NYXBT utilizes a unique methodology that relies on rules-based logic to analyze a dataset of matched transactions and verify the integrity of the data to ultimately produce an objective and fair daily value for one bitcoin in U.S. Dollars as of 16:00 London time." Bitcoin is currently worth $233, down almost $3 from yesterday. Shares of Chinese sports lottery site 500.com surged as much as 30% despite the company announcing a first-quarter loss, the resignation of its CEO and one director, and saying it is currently generating no sales. The company saw an earnings per share loss of 6 cents, much less than the expectation for a profit of 28 cents, and sales of $15.9 million versus $24.7 million expected. It saw a net loss of $8.4 million. Last month, 500.com suspended all online lottery sales in agreement with the Chinese government. And in the earnings report Tuesday, it said it is not generating revenues due to the suspension. TJX Companies beat estimates on earnings and revenues in the first quarter – something that's been unusual for retailers this season. The parent company of TJ Maxx and Marshalls reported adjusted earnings per share of $0.69 (versus $0.66 expected) on sales of $6.9 billion (versus $6.8 billion.) The company saw a 5% year-over-year rise in same-store sales, and raised its full-year guidance based on these results. Its stock rose as much as 3%. Macy's and JCPenney are two of the retailers that reported weaker-than-expected earnings. Urban Outfitters also missed expectations, and its stock tanked by up to 16% . It reported first quarter sales of $0.25 ($0.30 expected,) and record sales of $739 million (still below $757.58 expected.) Analysts at Oppenheimer downgraded the stock to "Perform" from "Outperform," citing several lackluster quarters, and "fashion misses" at Anthropologie in their note. Shake Shack shares rallied by more than 5% , bringing the stock's gains since reporting earnings after the close last Wednesday to around 12%. After the company's initial public offering priced at $21 in January, the stock has more than tripled and was trading at around $76 on Tuesday. There's been no big news since the earnings results that one analyst described as a " historically impressive 'beat and raise quarter.' " Shake Shack's flagship location in Madison Square Park in New York will reopen on Wednesday May 20. Story continues DON'T MISS: This demographic trend will be bullish for stocks for years » NOW WATCH: Here's exactly when you should 'cc' someone on email More From Business Insider STOCKS GO NOWHERE: Here's what you need to know STOCKS HIT ALL-TIME HIGHS: Here's what you need to know STOCKS GO NOWHERE: Here's what you need to know
[Random Sample of Social Media Buzz (last 60 days)]
Remember tomorrow tuesday 19.00 at @itnig a new Bitcoin meetup w/ @dashpay & bitsquare.io http://ow.ly/NnOCL @MeetupES || Current value of DOGE in BTC: COINS-E: 0.00000045 -- Volume: 5203941.14407727 Today's trend: stable at 04/21/15 00:50 || @GtsMarkets #BTCUSD #Analysis-#Bitcoin price tests the resistance 22/4/15
Expected trading range between 170.00 support &300.00 resistance || buysellbitco.in #bitcoin price in INR, Buy : 15092.00 INR Sell : 14585.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || $223.06 at 00:45 UTC [24h Range: $222.00 - $225.98 Volume: 4823 BTC] || Current price: 215.44€ $BTCEUR $btc #bitcoin 2015-05-24 23:00:02 CEST || $239.01 at 17:30 UTC [24h Range: $236.00 - $240.90 Volume: 6313 BTC] || In the last 10 mins, there were arb opps spanning 24 exchange pair(s), yielding profits ranging between $0.00 and $1,253.74 #bitcoin #btc || Try mike4132 at https://LocalBitcoins.com/ad/165456?ch=w7m … only £155.00 per BTC. (BPI +5.66%) #buy #bitcoin #banktrans || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $1,585.16 #bitcoin #btc
|
Trend: up || Prices: 233.54, 236.82, 250.90, 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
AI & Blockchain Ecosystem UniWorld.io Ready to Enhance DeFi Core Practice Values with UniChain Blockchain Platform: The One Blockchain To Rule Them All; The new record-speed blockchain UniChain TOKYO, JAPAN / ACCESSWIRE / August 19, 2020 / After the release of their ICO, UniWorld (Uniworld.io - not .com) was able to clear their entire stock of coins within minutes. The tech syndicate is not a newcomer on the blockchain scene but has been preparing patiently and quietly in the background for years. It's driven by an ecosystem powered by a native blockchain, messenger , social , and AI R&D lab all of but the later being their revenue streams. (UNW, also known as UniCash is the Uni ecosystem's currency sold in these funding rounds). Surprised by amazing support, the developer team had decided to hold votes to offer more UNW to prospects leading to 2 more rounds all of which sold out fast as well Uni plans to hold IEOs on 3 different exchanges with increasingly more volume: First is the Korean market with a small $1M fundraising on ChainX (which will restrict many countries) early this September. Next up a Chinese market followed by very large exchanges such as Binance or Coinbase (which one depends on the negotiation results). After the initial IEOs, more listings will be conducted rapidly, targeting the top exchanges in terms of liquidity. UniWorld.io (not to be confused with the cruise ship company of similar naming) launched its blockchain platform earlier last summer to use the time and company savings to slowly stress-test the system and gradually test out its limits without relying on investors. UniChain, infamous for its high-end scalability and operability namely one million transactions per second and complete compatibility with virtually any other blockchain is set out to dominate with performance. Over 50K Wallets Registered After Release On UniChain As registrations opened, 1000s of excited new users from over 141 countries signed up for their own Uni accounts on just the first day. While the original plan was to only launch in a few selected countries, it now got scrapped and restructured for a global release, minus exceptions where regulators have yet to catch up. Right now there are over 50,000 wallets registered on UniChain , a quite remarkable number for its young age. Story continues Its speed and simplified processes for users make other blockchains pale in comparison with other blockchain platforms. Users and developers alike can create Tokens , dApps, and pass votes on the Unichain. Unlike Ethereum, UniChain builds with a very pragmatic approach. "So simple, even your Grandmother can now build smart contracts and tokens," remarked Daika Ginza , CEO of Uni on the exciting subject. As a way for new users to test the network's features, every new wallet comes with 0,5 UNW free of charge. This cost is carried by the revenue stream of Uni's software production and seen as an investment strengthening their resolve to put "usability and purpose above meaningless promotion". Create an account today at: https://accounts.uniworld.io . And be part of the future of blockchain. Unichain for Decentralized Finance (DeFi) With the capacity of processing up to one million transactions per second and by leveraging side-chain architecture and a flexible smart contract system, unichain is suitable for any DeFi solutions. From payment platforms to peer-to-peer lending networks. UniChain is also a suitable solution for many other DeFi cases such as security token exchanges, stable coins, decentralized exchanges and real estate exchanges. Create an account today at: https://accounts.uniworld.io . And be part of the future of blockchain. Media Contact: Daika Ginza Email: support@uniworld.io Phone: +65 9658 5831 Website: https://uniworld.io Support: https://support.uniworld.io Blog: https://blog.uniworld.io/ News: https://uniworld.io/news/ Twitter: www.twitter.com/UniWorldio Github: https://github.com/uniworld-io Bitcointalk: https://bitcointalk.org/index.php?topic=5255376.0 Youtube: https://www.youtube.com/c/UniWorldEcosystem Medium: https://medium.com/uniworld-io Telegram channel: https://t.me/UniworldOfficial / https://t.me/MiaworldMultiple SOURCE: UniWorld View source version on accesswire.com: https://www.accesswire.com/602396/AI-Blockchain-Ecosystem-UniWorldio-Ready-to-Enhance-DeFi-Core-Practice-Values-with-UniChain-Blockchain-Platform || Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate: Bitcoin gained Wednesday while DeFi interest rate volatility is causing concern over its long-term viability. Bitcoin (BTC) trading around $11,670 as of 20:00 UTC (4 p.m. ET). Gaining 4% over the previous 24 hours. Bitcoin’s 24-hour range: $11,072-$11,735 BTC above 10-day and 50-day moving averages, a bullish signal for market technicians. Traders are mostly buying bitcoin Wednesday, with the world’s oldest cryptocurrency going as high as $11,735 on spot exchanges such as Coinbase. Read More: Bitcoin Price Rises 3% as Gold Trades Above $2K for First Time Related: Bitcoin's Patronage System Is an Unheralded Strength “I think we’ll hit $12,000 by Friday. There’s a lot of momentum in the market just now,” said Chris Thomas, head of digital assets for broker Swissquote. “Tuesday was a pause for breath, but we didn’t react negatively.” Thomas noted bitcoin spot volumes have been rising this past week after a month of relative feebleness. “Flows are definitely picking up and more people are feeling the excitement, which naturally helps the markets move higher still,” added Thomas. Read More: Ethereum Transition to Staking Could Push More Traders to Use Derivatives Related: Bitcoin Entering 'New Adoption Cycle,' Coin Metrics Exec Says While bitcoin’s pace is picking up, gold, the original hedge against economic uncertainty, has been on an absolute tear. The yellow metal was up 1.1% and at $2,041 as of press time, hitting a fresh intraday high at $2,056. However, while gold has rallied 14% over the past month, bitcoin has done twice as well, up 28% during that same period. Bitcoin bugs continue to believe its price can keep making outsized gains in unsettled economic times. “I’m bullish on bitcoin,” said George Clayton, managing partner of Cryptanalysis Capital. “I do not have a strong view on timing, but I’m expecting a move higher.” Volatile DeFi lending rates The second-largest cryptocurrency by market capitalization, ether (ETH), was up Wednesday, trading around $399 after climbing 3% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: BnkToTheFuture Steps Away From Banks Citing Mounting Risk Interest rates in Ethereum-powered decentralized finance, or DeFi, have see-sawed wildly over the past few months. Composite Lend Rate, a metric calculated by DeFi Pulse, determines how much profit an investor would return lending out crypto. It has fluctuated mostly due to the volatility of lender Compound’s rates, which have been as low as 0.122% on June 17 and as high as 18.6% on June 26. Compound dominates the DeFi lending market and had 3% rates for lenders as of Wednesday. Story continues “A number of new applications are adjusting their protocol and token incentives, which can trigger extreme volatility,” said Jean-Marc Bonnefous, managing partner for Tellurian Capital, which has been investing in crypto projects since 2014. “There is also a lot of shuffling of short-term liquidity among the DeFI protocols, which is not very conducive to longer-term sustainability and adoption,” he added. Other markets Digital assets on the CoinDesk 20 are mostly flashing green Wednesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): zcash (ZEC) + 14% dash (DASH) + 6% bitcoin gold (BTG) 5.5% Read More: Square Crypto, Human Rights Foundation Ramp Up Bitcoin Grants Notable losers as of 20:00 UTC (4:00 p.m. ET): tezos (XTZ) – 0.66% qtum (QTUM) – 0.56% stellar (XLM) – 0.53% Read More: US Lawmakers Don’t Want Proof-of-Stake Networks to Get Overtaxed Equities: In Asia, the Nikkei 225 ended the day in the red 0.26% as poor corporate earnings for Softbank and Yamaha led stocks lower . In Europe, the FTSE 100 closed higher, gaining 1.1% as better-than-expected earnings reports boosted stocks like Commerzbank, up 5% on the day . In the United States, the S&P 500 gained 0.60% on shares of Disney jumping 8.8% on positive earnings and optimism for a coronavirus vaccine . Read More: Square Reports 600% Increase in Quarterly Bitcoin Revenue Commodities: Oil is up 1.6%. Price per barrel of West Texas Intermediate crude: $42.14 Read More: Social Engineering: A Plague on Crypto and Twitter, Unlikely to Stop Treasurys: U.S. Treasury bonds were mixed Wednesday. Yields, which move in the opposite direction as price, were up most on the 10-year, in the green 7.5%. Read More: Pharmacist Charged With Trafficking Drugs Worth $270M in Bitcoin Related Stories Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate View comments || Blockchain Bites: Aave’s Advance, BitMEX’s Block, Turkey’s Bitcoin Trot: A branch of the Fed is looking at 30 blockchain networks to possibly support a “digital dollar,” Turkey is experiencing abitcoinbull run and the Aave protocol has taken a leap forward for DeFi.
You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here.
“Can’t stop the nodl”Turkey is experiencing a dollarization crisis anda bitcoin bull run, exchange volume data reveals. BTCTurk, the largest crypto exchange in Istanbul, has seen volumes roughly quadrupled over the past year, attracting roughly 100,000 active monthly users by July 2020 out of nearly one million accounts, CoinDesk’s Leigh Cuen reports. “August might be the highest volume ever and the highest level of registrations in any month this year,” CEO Ozgur Güneri said. “This also correlates to the volatility in prices.”
Related:First Mover: Anything-Goes Token Market Repudiates Rich-Only Venture Capital Club
Digital dollarsThe Federal Reserve Bank of Boston, one of 12 regional Federal Reserve banks operating under the U.S. central bank, isevaluating more than 30 different blockchain networksto determine if they would support a digital dollar, CoinDesk’s Nikhilesh De reports. This follows on news from earlier this month the Boston Fed is actively testing a tokenized version of the U.S. dollar with the Massachusetts Institute of Technology’s Digital Currency Initiative, looking at how it might complement the existing greenback.
BitMEX blockedCrypto derivatives exchangeBitMEX will block users in the Canadian province of Ontariobeginning in September. Without going into detail, the exchange said it was “mandated” by the state’s securities regulator, the Ontario Securities Commission. Existing positions may run till Jan. 4, 2021, but no new contracts will be filled. The news comes as the sometimes controversial exchange moves to become more compliant with regulators, having brought in compulsory “know-your-customer” verification procedures earlier this month, CoinDesk News Editor Daniel Palmer reports.
Wandering yuan?China’s central bank said experiments of its digital yuan projectonly involve small retail transactions. The statement, from a People’s Bank of China employee, came after rumors of a Shenzhen house sale conducted through the DCEP (digital currency, electronic payment). The seller had been paid with a large amount of the digital currency, but was unable to convert it into the traditional version of the currency, Chinese news source Global Times reported. The PBoC employee later told news source Sina scenarios involving larger-sized transactions during the pilot period are not yet being addressed.
Mining newsEnegix may become one of the largestbitcoinmining facilities in the world if it opens in September. The 180 megawatt (MW) data center will be able to support 50,000 mining rigs, according to sales director Dmitriy Ivanov. Assuming full capacity with Bitmain’s AntMiner S19 series or MicroBT’s WhatsMiner M30, they could produce mining power of about 5-6 EH/s –approximately 4% of bitcoin’s current hashrate, CoinDesk’s Paddy Baker reports. The $23 million project would draw as much electricity as 180,000 U.S. homes and employ about 160 people in Kazakhstan. Separately, Nasdaq-listed Marathon Patent Group has deployedtwo shipments of mining machines, increasing the company’s hashrate by 130 petahash per second to 186 petahash per second.
• Barstool’s Dave Portnoy IsBad at TradingCryptocurrency (Zack Voell/CoinDesk)
• Money Reimagined:DeFi-ing History(Michael Casey/CoinDesk)
• People Aren’t Buying the “Great American Recovery” Narrative (Nathaniel Whittemore/The Breakdown)
• “Yield farming”is flashy, but in some ways it resembles what’s happening in traditional markets (Frank Chaparro/The Block)
• BinanceTaps DeFi Excitementto “Fuel” Expansion Strategy in India (Leigh Cuen/CoinDesk)
Related:Blockchain Bites: Bitcoin's Weary Bulls, ETC's Action Plan, INX's IPO
Aave advancesAave, a DeFi money market protocol,has brought unsecured borrowing to decentralized finance(DeFi). CoinDesk’s Brady Dale reports the protocol’s credit delegation function is live, allowing users with collateral on Aave to delegate their credit line to a third party they trust, earning a cut of the interest. Aave, like most other DeFi protocols, had allowed users to earn interest on cryptocurrency and borrow against it. Unsecured borrowing represents “a significant shift for DeFi lending, which until now has been predicated on only one of the traditional “four C’s” of credit: collateral,” he writes, (“capacity,” “capital” and “character” were the remaining three).
What people are saying:“I think it’s healthy and natural to experiment around these models. But they do have a lot of risks around them, for obvious reasons, if the assets can’t be recovered in time for the primary owner,” Joseph Kelly, CEO of Unchained Capital, a company that writes loans against bitcoin collateral.
Bitcoin up, dollar downBitcoin wasup slightly at about $11,776 early Monday, rising along with European equities, stock futures, gold, copper and oil amid market optimism, CoinDesk’s First Mover reports. The dollar weakened. Prices have now spent 27 straight days above $10,000, the third-longest period in the five-digit zone in bitcoin’s 11-year history. According to Cryptoslate, the streak suggests “$10,000 as strong support, which typically is a positive medium-term sign.”
Bearish betsBearish bets inbitcoin futures from leveraged funds hit record highson the Chicago Mercantile Exchange (CME), CoinDesk’s Omkar Godbole said. Last week, leveraged funds increased their short positions by 110% to a record high of 14,100 contracts, according to a Commitment of Traders (COT) report published by the U.S. Commodity Futures Trading Commission (CFTC) on Friday. Crypto derivatives research firm Skew suggests these short positions are “a function of attractive cash and carry levels,” an arbitrage strategy.
Crypto Long & ShortIt wasn’t just Coinbase alum Brian Brooks, now head of the U.S. Office of the Comptroller of the Currency (OCC), who wanted to open the possibility for banks to custody crypto – the OCC had been looking at this for some time. CoinDesk Head of Research Noelle Acheson looks at the growing number of regulators and politicians – including from the Commodity Futures Trading Commission and Congress – trying to “support crypto innovation while protecting investors for longer than many realize.” Thus, “the OCC’s recent bold move is probably not the only welcome surprise we’ll see from an official body this year,” she writes.
Yielding curvesOn the latest Long Reads Sunday podcast, Nathaniel Whittemore looks at markets’ reaction to Federal Reserveminutes suggesting yield curve control is off the table.
• Blockchain Bites: Aave’s Advance, BitMEX’s Block, Turkey’s Bitcoin Trot
• Blockchain Bites: Aave’s Advance, BitMEX’s Block, Turkey’s Bitcoin Trot || Square's (SQ) Q2 Earnings and Revenues Surpass Estimates: Square, Inc. SQ reported second-quarter 2020 adjusted earnings of 18 cents per share, against the Zacks Consensus Estimate of a loss of 8 cents per share. Notably, the company had reported earnings of 21 cents in the year-ago quarter and aloss of 2 cents in the prior quarter. Net revenues of $1.92 billion surpassed the Zacks Consensus Estimate of $1.14 billion.Further, the figure improved 63.8% from the year-ago quarter and 39.3% sequentially. The top line was driven by strong momentum across Cash App ecosystem that contributed $1.2 billion to net revenues during the reported quarter, up 361% year over year. Cash App was used by above 30 million monthly transacting active customers in June 2020. Further, disbursements of the CARES Act stimulus programs and unemployment benefits aided growth in the Cash App engagement. Moreover, strengthening momentum across Bitcoin and strong adoption of Cash Card benefited the results. Notably, Cash Card was used by 7 million customers in June 2020, which doubled compared to June 2019. Additionally, accelerating subscription revenues remained a major positive. However, weak momentum across seller ecosystem owing to coronavirus-led shelter-in-place restrictions remained a major negative, which impacted the companys gross payments volume (GPV) negatively in the second quarter. Revenues from seller ecosystem were $$723 million, down 17% year over year. Square has refrained from providing guidance for the ongoing quarter and the full year 2020. This can be attributed to the uncertainties related to the COVID-19 pandemic. Nevertheless, the companys strengthening momentum in online channels and growing card-not-present GPV are expected to act as tailwinds in the upcoming quarters. Further, strong acquisition of net-new transacting active Cash App customers is likely to continue driving the companys top line. We note that Square has gained 144.4% on a year-to-date basis, outperforming the industrys rally of 65.9%. Story continues Gross Payment Volume GPV in the second quarter amounted to $22.8 billion beating the Zacks Consensus Estimate of $19.2 billion. However, the figure declined 15% year over year, which can primarily be attributed to sluggishness in the seller ecosystem during the reported quarter owing to coronavirus pandemic. Slowdown in GPV across the companys largest U.S. metropolitan areas was a concern. Further, decreasing GPV for the sellers across beauty, personal care, and food and drink verticals among others acted as a headwind during the reported quarter. Nevertheless, gradual reopening of the economies and relaxation of COVID-19 restrictions remained positives as it led to quarter-over-quarter improvement in GPV. Growing proliferation of online sales was also a positive backed by which GPV from online channels were up 50% year over year. Further, it contributed more than 25% of the companys seller GPV. Additionally, the companys robust product portfolio and comprehensive ecosystem, which aidsit in attracting new sellers to its platform while retaining the existing ones, sustained momentum across larger sellers who contributed 52% to the total GPV. Notably, Square defines larger sellers as those that make more than $125,000 of annualized GPV and mid-market sellers as those with annualized revenues of more than $500,000. Moreover, year-over-year growth of 16% in the card-not-present GPV in the second quarter was a tailwind. Robust online products, such as Square Online Store, Invoices, Virtual Terminal and eCommerce API contributed to the performance. Notably, card-present GPV declined 38% from the year-ago quarter. Square, Inc. Price, Consensus and EPS Surprise Top-Line Details Transaction (35.5% of net revenues): The company generated transaction revenues of $682.6 million, down 12% year over year. This was primarily attributed to sluggish GPV from in the second quarter. Nevertheless, growing proliferation of contactless transactions was a tailwind. Also, strong momentum across business accounts using Cash App, which generated $54 million of transaction revenues, up 216% year over, remained a positive. Subscription and services (18% of revenues): The company generated $346.3million revenues from this category, surging 38% from the year-ago quarter. This improvement can be attributed to strong performance by Cash App, which contributed $271 million to the categorys top line. The figure was up 129% from the year-ago quarter. This was driven by robust Cash Card spending and growing Instant Deposit volume in the reported quarter. Additionally, strong performance by Square Capital on the back of PPP loans remained positive. Notably, it facilitated more than 80,000 PPP loans worth $873 million. However, weak seller ecosystem, which generated $75 million of subscription and services revenues, down 16% year over year, remained a concern. Hardware (1% of revenues): Square generated revenues of $19.3 million from this business, down13% year over year. This was due to declining unit sales of hardware devices. Nevertheless, the company witnessed improved sales of contactless devices like Square Register and Square Terminal in the reported quarter. Bitcoin (45.5% of revenues): The company generated revenues of $875.5 million from this category, up a whopping 600% on a year-over-year basis. Square continued to benefit in the bitcoin space driven by growing adoption of Cash App.Further, the company witnessed strong customer demand and growth in bitcoin actives in the second quarter. Operating Details Per management, gross profit grew 28.1% from the year-ago quarter to $596.8 million. As a percentage of net revenues, the figure came in 31%, contracting 870 basis points (bps) year over year. While Transaction, Subscription and services and Bitcoin generated profit, Hardware category reported loss during the reported quarter. Further, the coronavirus pandemic remained a woe Adjusted EBITDA as a percentage of net revenues was 5.1%, contracting 380 bps from the year-ago quarter due to slowdown in seller revenues. Operating expenses came in $619.8 million, surging 32.8% from prior-year quarter. Product development expenses were $206.8 million, up 19% year over year, primarily owing to growing engineering, data science and design personnel costs. General and administrative expenses were $136.4 million, up 36% from prior-year quarter. This was primarily due to finance, legal and support personnel costs. Further, sales and marketing costs were $238.1 million, up 52% year over year, due to increase in Cash App peer-to-peer payment transfer and Cash Card issuances. Balance Sheet As of Jun 30, 2020, cash and cash equivalents balance was $1.97 billion, up from $1.96 billion as of Mar 31, 2020. Short-term investments were $714.3 million in the reported quarter, up from $521.8 million in the previous quarter. Long-term debt was $1.77 billion, increasing from $1.76 billion in previous quarter. Zacks Rank & Key Picks Square currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector are Asure Software ASUR, Dropbox DBX and Analog Devices ADI. While Asure Software sports a Zacks Rank #1 (Strong Buy), Dropbox and Analog Devices carry a Zacks Rank #2 (Buy). You can see the complete list of todays Zacks #1 Rank stocks here. Long-term earnings growth rate of Dropbox, Asure Software, and Analog Devices is pegged at 16.83%, 14% and 13.33%, respectively. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021. Click here for the 6 trades >> Click to get this free report Analog Devices, Inc. (ADI) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Square, Inc. (SQ) : Free Stock Analysis Report Dropbox, Inc. (DBX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Coinsquare Exchange Execs to Resign Over Wash Trading Scandal: Canada-based crypto trading platform Coinsquare has agreed to settle with the Ontario Securities Commission (OSC) after it was found senior executives told employees to make fake trades on the platform. Between Q4 2018 and Q1 2019, 90% of Coinsquare’s reported volume was faked in an illegal practice known as wash trading, the OSC said. As part of the settlement agreement reached Tuesday, Coinsquare admitted that around 840,000 illicit wash trades were conducted on the platform, amounting to a total value of around 590,000 bitcoin (BTC) (worth almost $5.5 billion at press time). The agreement also states that CEO Cole Diamond, founder Virgile Rostand and executive Felix Mazer knowingly “authorized, permitted or acquiesced” Coinsquare staff to carry out the wash trading, made misleading statements and sought retribution against a whistleblower seeking to expose the misconduct. The senior executives have now agreed to resign, with Diamond to pay a $1 million penalty and Rostand $900,000. The agreement acknowledged that Mazer had already voluntarily paid $50,000 to the commission, having acted as the company’s CCO contrary to the public interest. Jeff Kehoe, director of the enforcement branch of the OSC, said the case was the first time the commission has taken action against the reprisal of a whistleblower since protections were added to the Ontario securities legislation in 2016. Diamond and Rostand have also been banned from being registrants, officers or directors of companies or “market participants” for two to three years. Mazer received a one-year ban. Coinsquare’s investment dealer subsidiary, Coinsquare Capital Markets Ltd., which was seeking registry approval with the OSC prior to the investigation, has been ordered to put in place major governance improvements, including an internal whistleblower program. Coinsquare, Diamond and Rostand must further pay a total of $300,000 for costs associated with the OSC’s investigation. The OSC first accused the firm of illegal activities on Monday. Story continues See also: Quadriga Was a Ponzi Scheme, Ontario Securities Regulator Says Related Stories Coinsquare Exchange Execs to Resign Over Wash Trading Scandal Coinsquare Exchange Execs to Resign Over Wash Trading Scandal Coinsquare Exchange Execs to Resign Over Wash Trading Scandal Coinsquare Exchange Execs to Resign Over Wash Trading Scandal || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 2, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
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View source version on accesswire.com:https://www.accesswire.com/604545/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || The adjusted on-chain volume of Bitcoin and Ethereum hit a 30-month high in August: The total adjusted on-chain volume of Bitcoin and Ethereum reached a 30-month high during the month of August. [caption id="attachment_77068" align="alignnone" width="1950"] Source: Coin Metrics, The Block Research [/caption] Combined, the total adjusted on-chain volume for the two networks grew 38.3% month-over-month, as noted in a by-the-numbers breakdown for August produced by The Block Research. Bitcoin’s total adjusted on-chain volume grew by 22.5%, from $66.1 billion in July to $80.9 billion in August, while Ethereum saw an increase of 81.7%, increasing from $24 billion in July to $43.5 billion in August. Bitcoin’s on-chain volume was 1.85 times more than Ethereum’s on-chain volume last month, according to the report. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || U.S. Dollar Index (DX) Futures Technical Analysis – Nearing Potential Fibonacci Support Level at 91.760: The U.S. Dollar is inching lower early Monday, while poised to produce its fourth consecutive monthly decline, it longest losing streak since the summer of 2017. Although the dollar is trading weaker against a basket of major currencies, it relatively steady when compared to last Friday’s heavy selling pressure.
After several days of consolidation early last week, the greenback began to retreat last Thursday after Federal Reserve Chairman Jerome Powell outlined an accommodative shift in the central bank’s approach to inflation. Investors interpreted the announcement to mean U.S. interest rates would stay lower for longer. Lower rates tend to make the dollar a less-desirable investment.
At 04:23 GMT, September U.S. Dollar Index futures are trading 92.270, down 0.109 or -0.12%.
The main trend is down according to the daily swing chart. A trade through the last main bottom at 93.110 will reaffirm the downtrend. A trade through 93.480 will change the main trend to up according to the daily swing chart.
The nearest potential support is a long-term Fibonacci Level at 91.760.
The early price action suggests the direction of the September U.S. Dollar Index on Monday is likely to be determined by trader reaction to Friday’s close at 92.379.
A sustained move under 92.379 will indicate the selling pressure is getting stronger. The next downside target is the August 18 main bottom at 92.110. This is followed closely by the long-term Fibonacci level at 91.760. The latter is a potential trigger point for an acceleration to the downside with the next major target the September 21, 2018 main bottom at 90.805.
We’ve already had a lower-low, so turning higher for the session on a trade through 92.379 will indicate the buying may be a little greater than the selling at current price levels.
This price action won’t change the main trend to up, but it could signal the start of a 2 to 3 day short-covering rally.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Bitcoin and Ethereum Weekly Technical Analysis – August 31st, 2020
• Gold Is Flagging Out – Breakout Rally Targeting $1,950 Or Higher Is Next
• USD/JPY Fundamental Daily Forecast – Fed Policy Shift, Abe Surprise Resignation Equals Volatility
• Crude Oil Price Update – Needs to Hold $42.62 to Sustain Upside Momentum
• A Quiet Day Ahead on the Economic Calendar Leaves COVID-19 and Geopolitics in Focus
• AUD/USD and NZD/USD Fundamental Daily Forecast – Pro-Risk Aussie, Kiwi Should Benefit from Accommodative Fed || Market Wrap: Bitcoin Near $9,600 as Gold Hits High, Uniswap Liquidity Over $100m: As bitcoin closes in on $9,600, gold surpasses $1,900 and DeFi liquidity steadily grows.
• Bitcoin(BTC) trading around $9,592 as of 20:00 UTC (4 p.m. EDT). Slipping 0.03% over the previous 24 hours.
• Bitcoin’s 24-hour range: $9,475-$9,601
• BTC above 10-day and 50-day moving averages, a bullish signal for market technicians.
Gold is on the brink of an all-time high, up 0.80% Friday, at $1,901 per ounce. Sweden-based over-the-counter bitcoin trader Henrik Kugelberg sees gold nearing its all-time high as a positive for the world’s oldest cryptocurrency. “Bitcoin will pass $20,000 in a surge. I suspect a new normal discounted bitcoin price will be around $15,000 in 2021, like it has been around $9,000 in 2020.”
Bullish bitcoin traders love to talk about gold, since they see similarities between the yellow metal and the cryptocurrency. “I think we are just a couple weeks or months out from a strong continuation on bitcoin as gold reaches $1,900 today,” said William Purdy, a New York-based equity options and crypto trader.
Related:Odds of Bitcoin Hitting Record High in 2020 Are (Slightly) Up, Options Data Suggests
Indeed, gold’s jump this week occurred as bitcoin eked gains and the S&P 500 U.S. stock index performance was back to being flat for 2020.
Kugelberg is pessimistic on stocks for the balance of 2020. “I believe there will be at least a 30% drop in stocks on average at the latest in Q4. So where to go? To real assets with lasting value,” said Kugelberg. He mentioned gold, bitcoin and property as “real assets”.
“Bitcoin bulls have momentum on their side for now,” said Alessandro Andreotti, an Italy-based over-the-counter bitcoin trader. “The crypto market is likely to be heading towards a bullish continuation from here.”
Within crypto, ether is doing even better than bitcoin this week. ETH/BTC, that is, ether priced in bitcoin, has seen a jump in the past few days.
Related:First Mover: Bitcoin at Last Passes $10K, but Why Has It Struggled While Gold Shone?
Ether prices have increased almost 12% against bitcoin, said Aaron Suduiko, head of research for cryptocurrency liquidity provider SFOX. “It will be interesting to see whether any trends develop in the event that more DeFi projects continue to grow.”
The second-largest cryptocurrency by market capitalization,ether(ETH), was up Friday trading around $283 and climbing 3.6% in 24 hours as of 20:00 UTC (4:00 p.m. EDT).
Read More:Ether Leaves Bitcoin Behind With 2020 Gain of Over 100%
“The recent gains in ether are due to the on-going thematic chatter on social media around new DeFi projects that have been showing considerable strength,” said Purdy, the equity options and crypto trader. Indeed, Uniswap, a decentralized exchange (DEX), for trading various DeFi project tokens, surpassed $100 million in liquidity Friday.
Instead of order books, Uniswap uses liquidity pools that investors can “stake” cryptocurrency into and profit or “yield” from trading fees on the DEX. This liquidity is what enables Uniswap traders to quickly exchange between ether and various Ethereum-based ERC-20 tokens, with total daily volume reaching $71 million per day, according to data aggregator Dune Analytics.
Digital assets on theCoinDesk 20are mostly red Friday. Notable winners as of 20:00 UTC (4:00 p.m. EDT):
• nem(NEM) + 1.6%
• tron(TRX) + 1.2%
• zcash(ZEC) + 0.44%
Read More:Arca’s Flagship Crypto Hedge Fund is Up 77% in 2020
Notable losers as of 20:00 UTC (4:00 p.m. EDT):
• chainlink(LINK) – 3.6%
• cardano(ADA) – 2%
• monero(XMR) – 2%
Read More:Carlos Ghosn’s $600K Bitcoin Escape Fee Paid via Coinbase
Equities:
• In Asia the Tokyo Stock Exchange is on holiday. Hong Kong’s Hang Seng slipped 1.8%on news China demanded the closing of a US consulate in Chengdu.
• In Europe the FTSE 100 ended the day in the red 1.6% asthe U.K. and the E.U. are still at an impasse on a Brexit trade deal.
• The U.S. S&P 500 index lost 0.80% astensions with China dragged stocks lower, including Intel in the red 16%.
Read More:Crypto’s $35T Moment Could Come From Analog-World Stock Listings
Commodities:
• Oil is up 0.40%. Price per barrel of West Texas Intermediate crude: $41.21
Read More:No One Has Traded Bitcoin Options on Bakkt for Over a Month
Treasurys:
• U.S. Treasury bonds were mixed Friday. Yields, which move in the opposite direction as price, were down most on the 2-year, in the red 4.3%.
Read More:Banks Won’t Rush to Hold Crypto
• Market Wrap: Bitcoin Near $9,600 as Gold Hits High, Uniswap Liquidity Over $100m
• Market Wrap: Bitcoin Near $9,600 as Gold Hits High, Uniswap Liquidity Over $100m || MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’: Publicly traded business intelligence firm MicroStrategy purchased 21,454 bitcoin on Tuesday, effectively pouring all $250 million of its planned inflation-hedging funds into the digital currency.
• Disclosing itsbitcoinbuy alongside an equivalent stock buyback in a Tuesday Securities and Exchange Commission filing, MicroStrategy, a Nasdaq-listed software firm worth over $1.2 billion, said the cryptocurrency provided a “reasonable hedge against inflation” in a press statement shared with CoinDesk.
• “This investment reflects our belief that bitcoin, as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash,” said CEO Michael J. Saylor.
• Saylor cited forces working to weaken fiat currencies – COVID-19, global quantitative easing measures, political and economic uncertainty – but also the technical and qualitative aspects that he said give the bitcoin blockchain strength.
• “We find the global acceptance, brand recognition, ecosystem vitality, network dominance, architectural resilience, technical utility and community ethos of bitcoin to be persuasive evidence of its superiority as an asset class for those seeking a long-term store of value,” Saylor said.
• The capital allocation quickly fulfills Saylor’s late July promise to shareholders that MicroStrategy would buy back $250 million in stock and invest an additional $250 million in gold and bitcoin over the next 12 months.
• The belief was that these and other “alternative investments” would protect MicroStrategy’s dollar-heavy balance sheet.
• It is now clear that half of the $500 million bet turns entirely on bitcoin. MicroStrategy “accordingly has made bitcoin the principal holding in its treasury reserve strategy,” Saylor said.
Read more:Nasdaq-Listed MicroStrategy, Wary of Looming Dollar Inflation, Turns to Bitcoin and Gold
• MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
• MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
• MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
• MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 10680.84, 10796.95, 10974.91, 10948.99, 10944.59, 11094.35, 10938.27, 10462.26, 10538.46, 10246.19
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
The countries that have the most powerful passports in the world: If you have citizenship in Denmark, you have a great deal of traveling power — Danes can fly to 157 countries without ever showing a visa. This makes international travel cheaper and easier than it is for citizens of many other countries, like those of Pakistan, who can enter just 25 countries without a visa. These stark differences are revealed in the Passport Index , which ranks countries based on the number of nations where residents can go without purchasing a visa in advance or on arrival. The global financial advisory firm Arton Capital compiled government data from 193 countries and six territories to create the 2017 ranking. The map below shows the power of every passport in the world, while the chart reveals the countries with the greatest traveling power on each continent. The most powerful passports in the world_Map (Diana Yukari) The 5 most powerful passports_Chart (Diana Yukari) NOW WATCH: HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0) More From Business Insider The hourly wage needed to rent a two-bedroom home in every state Qatar Airways reported massive profits — but big trouble is lurking on the horizon Inside California's 'meat camp,' where women learn to butcher and grill what's for dinner || Nvidia is getting a huge boost from a red-hot cryptocurrency: (The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in TaipeiThomson Reuters)
Graphic processing units are used to power games, but that's not what is drivingNvidia's stockskyward right now.
Cryptocurrency mining is one of the biggest drivers to the GPU maker's shares in recent weeks. In just 11 days, about $100 million worth of GPUs were added to the Ethereum network, according to a new note from RBC Capital Markets. Nvidia's stock has climbed about 5% over that time.
"While the company is shifting its business toward Automotive and Gaming specific revenue, we note that the combined GPU business represents the majority of NVIDIA’s revenue," RBC said.
Etherum is a red-hot cryptocurrency. Its value has ballooned 4,056% this year. The value of one Ether was worth $8.07 on January 1, 2017, and is now worth around $336.41, according toethereumprice.org.The currency is worth $31.14 billion in total, which places it somewhere betweenthe market cap of 21st Century Fox and Dish Network, for reference.
Because the cryptocurrency has risen so quickly, miners are eager to get in on the action. To obtain Ether, you can either pay for it as with any other currency exchange or set up a computer to help verify payments and maintain the network. Those who help maintain the networks are known as miners, and those miners have spent millions of dollars on GPUs in the past few days to help speed up their computers and get more Ether.
To figure out the number of GPUs that were added to the cryptocurrency network, RBC looked at the speed at which payments of ether are being verified by miners, and divided the recent increase in speed by the average speed of a single GPU.
RBC measured an approximately 10 million megahash per second increase in speed over 11 days, and divided that by an average GPU speed of 30 megahashes per second to get an estimated 333,333 new GPUs. RBC estimated each of these new GPUs would sell for about $275, meaning $91.7 million has been spent on GPUs recently.
Nvidia was a more attractive GPU manufacturer to many miners because the price of its GPUs on the secondhand market was lower than those of competitor AMD. However, that has changed with the recent increase in demand, according to RBC.
Other cryptocurrencies, like Zcash and Monero, have also seen increases in mining speed on their networks, which RBC thinks is a net increase in GPUs on the network, rather than miners switching between networks.
RBC has a price target of $175 for Nvidia which is 10.4% higher than the current price. "Importantly, we think FY18 results (within Data Center and Gaming specifically) will be above expectations which could cause our forward numbers to increase in a material fashion," the firm wrote.
Nvidia's share price has surged 55.74% this year.
(Markets Insider)
NOW WATCH:An economist explains what could happen if Trump pulls the US out of NAFTA
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• Bitcoin is tumbling || Here's why FANG stocks will get stronger even in a slow growth economy, Goldman says: It doesn't seem to make sense. Why are tech high-flyers surging when economic growth expectations are faltering?
Goldman Sachs chief U.S. equity strategist David Kostin explained to CNBC why he expects the FANG stock rally to continue even in a sluggish economic environment.
"A modest growth environment means that growth is still relatively scarce. So the growth stocks … [where] tech is a prominent area, are likely to continue to do well and outperform," Kostin said Tuesday on CNBC's "Squawk on the Street.""Basically you want to be in tech and particularly where there is secular growth. And there is a group of stocks where you have revenue growth that is double digit, and that's still relatively rare."
FANG stocks, an acronym created by CNBC's Jim Cramer, are crushing the market this year with Facebook(FB)up 33 percent, Amazon(AMZN)up 34 percent, Netflix(NFLX)up 33 percent and Google parent Alphabet(GOOGL)up 26 percent through Tuesday versus the S&P 500's(^GSPC)8.5 percent return.
"You have a group of stocks that are going to grow 10, 15, 20 percent, in terms of revenues ... where they trade at 3, 4, 5 times enterprise value to sales. That's the sweet spot that we look for," the strategist said. FANG stocks "can continue to move higher."
Slow economic growth, which leads to the growth scarcity situation boosting technology stocks may last awhile.The May jobs number came insharply belowexpectations on Friday and U.S. economy grew at itsslowest pacein three years during the first quarter. In addition, the time line for PresidentDonald Trump'seconomic agenda keepsgetting delayed.
Kostin said he expects a modest growth environment during the rest of this year. And he predicted Trump's tax reform and infrastructure spending plans will likely be pushed out to 2018.
Counterintuitively, the strategist said if economic growth does improve, it will be negative for technology growth stocks."The big issue would be if you have economic growth accelerate, because in an economic acceleration environment, you want to be more value, more cyclicals as opposed to secular growth," he said.Kostin's investing playbook is similar to billionaire investor Stanley Druckenmiller's classic investment strategy of buying high-flying growth stocks during low growth economic environments.Druckenmiller is chief executive officer of the Duquesne Family Office and the former lead portfolio manager for George Soros. The billionaire's hedge fund has generated annualized returns of 30 percent during his investment career."(I'm) long this high-beta, high-growth stuff, companies that are investing in their businesses. Stuff that I think will do very well with low nominal growth," Druckenmiller said at The New York Times DealBook conference in November 2015.He also clarified why stronger economies are bad for equities in a 1988 Barron's interview."The best environment for stocks is a very dull, slow economy that the Federal Reserve is trying to get going," Druckenmiller said. "Once an economy reaches a certain level of acceleration, not only is the Fed no longer with you, but three bad things start to happen."The investor noted how in stronger growth economies the Federal Reserve takes liquidity out of the markets. In addition, he said companies build inventory for products and increase capital expenditures, which further diverts funds out of financial assets.
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• Cramer says it's possible bitcoin could reach $1 million one day || Bitcoin shoots past $1,800 for the first time: Bitcoin Bitcoin is trading at another record high on Thursday. The cryptocurrency is up 4.59% at $1853.55 a coin after Ulmart, Russia's largest online retailer, said it would begin accepting bitcoin, Cryptocoin News says. The announcement from Ulmart comes despite Russia's central bank saying it would wait until 2018 to consider allowing the use of bitcoin and other cryptocurrencies. At the beginning of April, Japan's regulators announced bitcoin is now a legal payment method in the country. Bitcoin's has gained in 18 of the past 20 sesssions, a streak that has added nearly 60% to the cryptocurrency's price. It began the run trading at about $1,170 a coin. Bitcoin has shrugged off China restricting trade , the SEC's rejection of two bitcoin ETFs, and threats from developers to create a " hard fork " that would split the cryptocurrency in two, on its way to a gain of more than 95% so far this year. It has been the top performing currency every year since 2010, aside from 2014. Traders are currently on the lookout for the US Securities and Exchange Commission's ruling on whether it will reverse its decision to reject the Winklevoss twins' exchange-traded fund . Back in March, the SEC rejected two bitcoin ETFs, saying it "is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest." The SEC will accept public comment on its previous decision until May 15. More From Business Insider Bitcoin soars past $1,700 for the first time 42 TV shows that have been canceled People are so excited about this wallet that its become the biggest one in Kickstarter history || Your first trade for Thursday, May 18: The "Fast Money" traders gave their final trades of the day.
Tim Seymour is a buyer of Starbucks (SBUX(NASDAQ: SBUX)).
Brian Kelly is a buyer of the Utilities SPDR ETF (XLU(NYSE Arca: XLU)).
Karen Finerman is a seller of United Rentals (URI(NYSE: URI)).
Steve Grasso is a buyer of the Market Vectors Gold Miners ETF (GDX(NYSE Arca: GDX)).
Trader disclosure: On May 17, 2017 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:
Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MAT, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VRX, VZ, XOM. short: EEM, SPY, XRT;Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWMKaren is long AAL, BAC, BAC short calls, C, DAL, EEM, EPI, EWW, DVYE, FB, FL, GLMP, GLNG, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, WFM. Her firm is long ANTM, BAC calls, C, C calls, FB, GOOG, GOOGL, GLNG, GMLP, JPM, JPM calls, KORS, LYV, PLCE, SPY puts, SPY put spreads, WIFI, UAL, her firm is short IWM, MDY.
BK is long Bitcoin, GE, HLF, IWM, TSLA, WMT.
Steve Grasso's firm is long stock AON, BX, CTL, CUBA, DIA, F, HES, ICE, KDUS, KORS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TIME, TITXF, UA, VEON, WDR, WPX, ZNGA. Grasso is long stock BABA, CHK, EEM, EVGN, GDX, KBH, LEN, MJNA, MO, MON, OLN, PHM, SQ, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. NO SHORTS.
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• Don't look for a sequel to 'The Big Short' anytime soon || Chinese bitcoin exchanges resume withdrawals after freeze: By John Ruwitch and Brenda Goh SHANGHAI (Reuters) - Major Chinese bitcoin exchanges have started to resume allowing withdrawals of the cryptocurrency after nearly a four-month freeze that followed increased scrutiny from the central bank. Bobby Lee, chief executive of BTCChina, said in a statement on Thursday that his exchange had started "testing" withdrawals after upgrading its "know your customer" and anti-money laundering systems. Huobi, another exchange, said in a statement it would resume withdrawals on Thursday. Two industry sources said OkCoin, China's third major cryptocurrency exchange, had resumed allowing withdrawals. A spokeswoman for OkCoin declined to comment but referred Reuters to an industry news outlet that reported on the resumption. As the popularity of bitcoin spread, China quickly evolved into the world's leading venue for bitcoin trading. But volumes collapsed after the People's Bank of China began looking into the market more closely and conducting checks of the exchanges at the start of this year. Major exchanges halted withdrawals of bitcoins in early February, introduced trading fees and stepped up scrutiny of clients amid discussions with authorities. While withdrawals were suspended, investors could buy and sell bitcoins on Chinese exchanges but were barred from transferring them or downloading and removing them. One of the industry sources said the decision to resume withdrawals was made after the central bank had signaled that it was not forbidden. BTCChina and OkCoin were allowing customers to withdraw a maximum of 10 bitcoins a day, the source said. It remained unclear when more formal regulation of the industry would begin, the person added. The decision to resume withdrawals comes with the price of bitcoin near an all-time high. Prices on European exchange Bitstamp were around $2,400 on Thursday - up nearly 150 percent from the start of the year. The intensified regulator interest in bitcoin coincided with a clampdown on capital outflows, as authorities sought to relieve downward pressure on the yuan currency and stop the depletion of China's foreign exchange reserves. Story continues Bitcoin's relative anonymity prompted some industry observers to say it had become an attractive, if niche, option for tech-savvy Chinese to hedge against the yuan and skirt rules limiting how much foreign exchange individuals could buy each year. The yuan has stymied forecasts it would continue to fall after losing about 6.5 percent against the dollar last year. It is up more than 2 percent since the start of the year. (Reporting by John Ruwitch and Brenda Goh; Additional reporting by Alexandra Harney; Editing by Muralikumar Anantharaman and Christopher Cushing) || Gold vs Bitcoin?: By: AdvisorShares Harvest Exchange June 5, 2017 Gold vs Bitcoin? June 5, 2017 Originally Published at: Gold vs Bitcoin? || Best Performing ETFs So Far This Year: They say the best perfumes come in the smallest bottles. Perhaps that holds true in ETFs, too—at least when it comes to short-term performance.
Investors poured more than $200 billion into U.S.-listed ETFs in the first five months of the year, bringing total U.S. ETF assets to almost $3 trillion. The most popular fund this year, theiShares Core S&P 500 ETF (IVV), attracted some $14 billion in net inflows.
But the top 10 best-performing ETFs this year command only about $1.42 billion in total combined assets. Their net creations between January and May 2017 reached only $458.5 million split across 10 different funds.
And yet their year-to-date results stand out among the 2,000-plus ETFs listed in the U.S. today.
Story Lines Behind Performance
Behind these funds’ impressive performances so far this year are a few different story lines: historically low volatility in the U.S. stock market; a mind-boggling rally in bitcoin prices; a forging recovery in emerging markets; and across-the-board strength in the tech sector.
Leading with gains of more than 53% in five months is a complex volatility ETN, theVelocityShares VIX Short Volatility Hedged ETN (XIVH). The strategy—which includes both a large short exposure to near-term VIX futures and a small long and leveraged position—is built to benefit fromcontangoin CBOE Volatility Index (VIX) futures. In other words, it gains most when the VIX is going down.
By the end of May, VIX was trading just below 10—far off its 52-week high of 26.7, according to CBOE data, and it’s been below 10 at close of trading several times in the month of May alone. Volatility has been declining, making it the perfect setting for XIVH to flourish.
Bitcoin Booming
Another big story this year fueling a pair of ETFs has been bitcoin.
The Securities and Exchange Commission decision earlier this yearto deny permission for bitcoin ETFsto come to market only helped further fuel the bitcoin space. In the first five months of the year, bitcoin prices surged nearly 150%.
Those bitcoin gains are largely the reason two very smallARK Invest fundsare among the top-performing ETFs of the year. Bitcoin—owned through allocations to the Grayscale Bitcoin Trust (GBTC)—is theARK Innovation ETF (ARKK)and theARK Web x.0 ETF (ARKW)’s biggest single holding, at about 8% and 8.2%, respectively.
Both funds also own names like Tesla, Amazon and Athena Health—all companies that have been delivering strong returns this year.
These ETFs are actively managed funds said to benefit from their portfolio managers’ strong “conviction” when it comes to owning specific stocks. They have on occasion bought into stocks that they believe in for the long haul even when they might seem out of favor in the near term—value plays that sometimes work wonders.
Emerging Markets Surging
Six of the 10 best performers are all linked to emerging markets. The region is coming off of four years of underperformance relative to developed-market equities, forging a bottom and gaining some ground. A weaker U.S. dollar, too, has helped in recent months, as have lower, attractive valuations relative to developed-market equities.
Leading the bunch with gains of roughly 41% is theEmerging Markets Internet & Ecommerce ETF (EMQQ), which owns internet-related companies in almost 20 countries. The ETF isone of the year’s best tech funds, too, thanks to its sharp focus on the internet of things.
EMQQ’s performance is also linked to China, a country that represents nearly two-thirds of its portfolio.
The performance of China-focused ETFs hasn’t been that good this year, with different types of stocks—H-Shares (Hong Kong listed), N-Shares and A-Shares (mainland listed)—behaving differently. But strong earnings growth in some segments, particularly tech, has boded well for funds such as EMQQ. Companies like Tencent and Alibaba have been soaring.
Chinese & Indian Funds Gain
That scenario has also pushed theKraneShares CSI China Internet ETF (KWEB)to the top 10 list. The fund owns exclusively U.S.-listed Chinese software and IT services companies, and it’s up 39% in five months. KWEB is also the most popular fund among the year’s best performers, with inflows of some $186 million.
Technology has been the strongest sector in the S&P 500 so far this year, and it’s also a sector that’s standing out globally. Five of the best-performing ETFs in 2017 are directly linked to tech stocks.
Finally, there’s India.
India-linked ETFs, benefiting from the country’s strong GDP growth (above 7%), its pro-business leadership and positive demographic trends, have also done well. TheVanEck Vectors India Small-Cap ETF (SCIF)and theiShares MSCI India Small Cap ETF (SMIN)are among the year’s best returns.
[{"Ticker": "XIVH", "Fund": "VelocityShares VIX Short Volatility Hedged ETN", "Issuer": "UBS", "YTD 2017Total Return": "53.21", "YTD 2017Net Flows ($,M)": "0.06", "2017 AUM($,M)": "53.45", "% of AUM": "0.11%", "May 2017 NetFlows ($,M)": "0.00"}, {"Ticker": "ARKK", "Fund": "ARK Innovation ETF", "Issuer": "ARK", "YTD 2017Total Return": "43.99", "YTD 2017Net Flows ($,M)": "23.62", "2017 AUM($,M)": "42.11", "% of AUM": "56.09%", "May 2017 NetFlows ($,M)": "19.07"}, {"Ticker": "ARKW", "Fund": "ARK Web x.0 ETF", "Issuer": "ARK", "YTD 2017Total Return": "42.42", "YTD 2017Net Flows ($,M)": "15.99", "2017 AUM($,M)": "40.19", "% of AUM": "39.79%", "May 2017 NetFlows ($,M)": "11.73"}, {"Ticker": "EMQQ", "Fund": "Emerging Markets Internet & Ecommerce ETF", "Issuer": "Exchange Traded Concepts", "YTD 2017Total Return": "40.98", "YTD 2017Net Flows ($,M)": "60.49", "2017 AUM($,M)": "100.17", "% of AUM": "60.39%", "May 2017 NetFlows ($,M)": "47.91"}, {"Ticker": "SCIF", "Fund": "VanEck Vectors India Small-Cap Index ETF", "Issuer": "VanEck", "YTD 2017Total Return": "38.97", "YTD 2017Net Flows ($,M)": "74.20", "2017 AUM($,M)": "316.31", "% of AUM": "23.46%", "May 2017 NetFlows ($,M)": "37.61"}, {"Ticker": "KWEB", "Fund": "KraneShares CSI China Internet ETF", "Issuer": "KraneShares", "YTD 2017Total Return": "38.89", "YTD 2017Net Flows ($,M)": "186.21", "2017 AUM($,M)": "481.47", "% of AUM": "38.68%", "May 2017 NetFlows ($,M)": "121.99"}, {"Ticker": "GAMR", "Fund": "PureFunds Video Game Tech ETF", "Issuer": "ETF Managers Group", "YTD 2017Total Return": "35.79", "YTD 2017Net Flows ($,M)": "5.88", "2017 AUM($,M)": "16.18", "% of AUM": "36.34%", "May 2017 NetFlows ($,M)": "5.88"}, {"Ticker": "PGJ", "Fund": "PowerShares Golden Dragon China Portfolio", "Issuer": "Invesco PowerShares", "YTD 2017Total Return": "35.40", "YTD 2017Net Flows ($,M)": "3.55", "2017 AUM($,M)": "177.27", "% of AUM": "2.00%", "May 2017 NetFlows ($,M)": "11.49"}, {"Ticker": "CXSE", "Fund": "WisdomTree China ex-State-Owned Enterprises Fund", "Issuer": "WisdomTree", "YTD 2017Total Return": "35.36", "YTD 2017Net Flows ($,M)": "0.00", "2017 AUM($,M)": "9.66", "% of AUM": "0.00%", "May 2017 NetFlows ($,M)": "0.00"}, {"Ticker": "SMIN", "Fund": "iShares MSCI India Small Cap ETF", "Issuer": "BlackRock", "YTD 2017Total Return": "35.10", "YTD 2017Net Flows ($,M)": "88.61", "2017 AUM($,M)": "184.04", "% of AUM": "48.15%", "May 2017 NetFlows ($,M)": "40.27"}]
Contact Cinthia Murphy atcmurphy@etf.com
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Permalink| © Copyright 2017ETF.com.All rights reserved || Cramer's lightning round: You're swinging for the fences in this space: It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed: Applied Optoelectronics (NASDAQ: AAOI) : "Boy, you're swinging for the fences with the optical plays, including that one. You know what? I'm going to send you back to the drawing board with Broadcom (NASDAQ: AVGO) . People don't want to buy Broadcom because it's more than $200. That's penny-wise and pound-foolish." Nutanix (NASDAQ: NTNX) : "I think Nutanix is undervalued here. I like enterprise storage. I can't believe the stock isn't up more after that terrific quarter." Reynolds American (NYSE: RAI) : "OK, just hold on to it [through the takeover]. You're going to do great." Ulta Beauty (NASDAQ: ULTA) : "I think that [CEO] Mary Dillon is doing a remarkable job. I liked that tie-up recently with Estee Lauder (NYSE: EL) . [Estee Lauder CEO Fabrizio] Freda's doing an unbelievable job. Fabrizio and Mary are two of the best executives in the industry and I want you to buy Ulta. Look, and I know the chart looks bad. Alright, alright, alright." Mosaic (NYSE: MOS) : "I think more of a broken stock than company, but you know, if I'm going to go [agriculture], I'm going AGCO (NYSE: AGCO) . [AGCO CEO] Martin Richenhagen is the man." Farmland Partners (NYSE: FPI) : "Too speculative for me. Again, I am going to return to the Martin Richenhagen theory, AGCO." KeyCorp (NYSE: KEY) : "I understand it didn't do well in the stress test, but I think [CEO] Beth Mooney's terrific. My charitable trust owns it. I'm holding it because it's got growth. It was a bummer to see that it didn't do that well. Maybe they have to boost some capital. I don't think they have to. I'm sticking by KeyCorp. I'm sticking by Beth Mooney." FireEye (NASDAQ: FEYE) : "I'm not a buyer. I like Proofpoint (NASDAQ: PFPT) here. I think Proofpoint's doing better. That's the one I would buy." Story continues B&G Foods (NYSE: BGS) : "Haven't liked the last couple of quarters. Don't even want that yield if I can't get growth. The food business? I say ixnay, let's go to Mondelez (NASDAQ: MDLZ) ." Questions for Cramer? Call Cramer: 1-800-743-CNBC Want to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com More From CNBC Cramer's game plan: In a market on edge, stick with the bulls Cramer explains Bed Bath & Beyond's current existential crisis Cramer: Bitcoin-ethereum craze boosts Nvidia and AMD, but it shouldn't || Dollar remains at lows amid soft housing data: Investing.com – The dollar remained close to session lows against a basket of global currencies on Friday, after the release of disappointing economic data weighed on sentiment.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.34% to 97.18.
U.S. homebuilding fell for a third straight month in May to the lowest level in eight months, suggesting that subdued housing activity could dent economic growth in the second quarter.
Housing startsdropped 5.5% to a seasonally adjusted annual rate of 1.09 million units, the Commerce Department said on Friday, well below forecasts of a 4.1% increase.
In a separate report the University of Michigan said itsconsumer sentimentgauged fell to 94.5 in early June from 91.1 in May. Analysts had expected a reading of 97.1.
The slowdown in the housing sector comes a few days after the Federal Reserve raised interest rates for the second time this year, and saidgradual interest rate increases remained appropriate, asserting that moderate economic growth will continue for foreseeable future.
The pound and euro were the main beneficiaries of the slump lower in the greenback.
GBP/USD rose to $1.2763, up 0.22%, underpinned by expectations that the Bank of England could alter its stance on low interest rates in the near future, after an increasing number of its members voted in favour of an interest rate increase on Wednesday.
EUR/USD added 0.39% to $1.1190 while EUR/GBP rose by 19% to 0.8753.
USD/CAD traded at C$1.3230, down 0.29%, as a rebound in oil prices supported upward momentum in the oil-linked Canadian dollar.
The yen was one of the few major currencies unable to take advantage of the weaker greenback, hitting a two-week low, after the Bank of Japankept interest rates unchangedand hinted that ultra-loose monetary policy could remain in place for a while.
Governor Haruhiko Kuroda said there was "some distance" to achieving the BOJ's inflation target of 2%, adding that it was "inappropriate" to say how the Bank would exit its massive stimulus program.
USD/JPY traded roughly flat at Y110.84.
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[Random Sample of Social Media Buzz (last 60 days)]
#UFOCoin #UFO $0.000021 (4.85%) 0.00000001 BTC (0.00%) || 8:00~9:00のBitcoin市場は上げ一服でした。
直近の市場の平均Bitcoinの価格は259992.0円
変化率は-4.706%
10:00までは反落?
【AIコメントです:テスト中@パターンB】
#bitcoin
#AI || 1 #BTC (#Bitcoin) quotes:
$1446.37/$1450.19 #Bitstamp
$1362.00/$1366.74 #BTCe
⇢$-88.19/$-79.63
$1449.76/$1464.81 #Coinbase
⇢$-0.43/$18.44 || Le Bitcoin et Ethereum plongent de 25% - https://invst.ly/4463c InvestingFrance || Simon Black exposes new legislation on the war on cash and Bitcoin. Definitely worth a read
http://ow.ly/6bzX30cBotG || 0.05210000 16 BTC bid wall for E.T.H, -0.00% from current rate @ 0.05209999 #qweiop1238901 || 2017-06-19 00:00
1 BTC son: 14.191.020Gs. #btc #gs #pyg #bitcoin #paraguay #guaranies || Montgomery County and Frederick County homes sales – Washington Post http://news.google.com/news/url?sa=t&fd=R&ct2=us&usg=AFQjCNFZ4TfTaZ7wa1gmfwjQascOWFmuxw&clid=c3a7d30bb8a4878e06b80cf16b898331&cid=52779529614750&ei=tdlBWcDnHJHP8gXv2aJY&url=https://www.washingtonpost.com/local/montgomery-county-and-frederick-county-homes-sales/2017/06/12/563679c4-4ac0-11e7-bc1b-fddbd8359dee_story.html …
#btc #eth #xrp || #Monacoin 68.3円↑[Zaif] -円→[もなとれ]
#NEM #XEM 22.7799円↑[Zaif]
#Bitcoin 301,055円↑[Zaif]
06/21 07:00
口座開設はこちらで！ https://goo.gl/31dyoO || #UFOCoin #UFO $0.000022 (-9.55%) 0.00000001 BTC (0.00%)
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Trend: up || Prices: 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06, 2601.64, 2601.99
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
ETHDenver Day 2: NFTs, Gaming the Future and COVID Fantasists: Like any really happening conference, ETHDenver is impossible to experience in full. It’s hard to even really tell when it begins and ends. Events have been going on for roughly a week, but the official kickoff day is Thursday.
So first, for those of you about to arrive, a crucial and practical tip – get to registration as early as possible for your badge. The conference is requiring on-site COVID-19 tests for entry (though not proof of vaccination), and even with the small trickle of people showing up early on Tuesday, things got snarled. I expect huge and frustrating delays today and tomorrow as the bulk of attendees show up.
David Z. Morris is CoinDesk's chief insights columnist. He will be at ETHDenver all week.
Inevitably, there was a COVID-19 fantasist on hand to make things even more annoying. (Pro tip for the big brains: Yelling at the guy manning the registration table about the testing policy demonstrates you have a brick wall’s comprehension of how the world works. When you’re a white-presenting male shouting at an indifferent, harried and non-white staffer that the policy is “segregation,” some might draw even darker conclusions about your character.)
Anyway, the testing process is being handled in groups, which provides a nice chance to talk to a random sample of other attendees. As expected, this is the first crypto conference for quite a few of them. I bumped into folks who had been drawn into crypto by dog tokens and non-fungible tokens (NFT), and it’s great to see that pipeline leading to an event as hardcore as ETHDenver.
Some presenters catered to the newbie audience. “Who knows what a fork is?” one asked from the stage yesterday. “OK, lots of you, not everyone.” That anyone would be at a high-level crypto conference without knowing what a fork is is pretty crazy, but also hopeful – the presenter went on to give a decent, concise explanation, so there’s real learning happening here.
See also:ETHDenver Agenda: 3 Big Themes in 2022
The most interesting presentation I caught Tuesday was from theForesight Institute, a nonprofit focused on using technology such as artificial intelligence (AI) and biotech to solve big problems. This group has been around for decades, but it's stepping into crypto because of its potential to coordinate action to, in particular, fund public goods. The institute has a new collection of interesting essays called "Gaming the Future" about, broadly, incentive design, that seems fascinating and features crypto big wheels including Balaji Srinivasan.
This explicit call to use blockchain tech to solve big collective action problems perfectly captures Ethereum’s cultural position in the cryptosphere. The clearest contrast is with Bitcoiners, who are in fact focused on a collective problem – currency management – but generally frame that in hyper-individualist terms of property and ownership. The discourse around Ethereum is substantially more hippy-dippy, invoking a blissful future in which systems design solves all of our political problems. Often that’s to a fault – we are, after all, still essentially talking about money here, and many would argue you can’t dismantle the master’s house withthe master’s tools.
Finally, not a lot of today’s programming caught my eye – perhaps a bit of a lull before things get into full swing. But two events did stick out – this introduction to decentralized storage usingIPFS and Filecoin, and this discussion onprivacy and Web 3, a vital topic. If you’re not in Denver this week, it does appear you still have a chance to register as a virtual attendee and watch these online.
So have fun, stay safe, be nice and prepare to learn. || Companies seek input for broadband internet grant applications: Feb. 14—Two internet service providers are asking for the community's help as they prepare grant applications to expand service in Cumberland County.
Ben Lomand Connect and Bledsoe Telephone Cooperative are requesting residents of the areas they are eyeing for grant applications complete short surveys regarding their current internet service.
BTC hopes to complete a fiber optic expansion in the southern portion of Cumberland County, including the Vandever and Breckenridge communities. The survey is available online atbtcfiber.com.
Ben Lomand Connect is applying for grants in large portions of the county that include areas within the 1st, 3rd, 4th, 5th, 6th, 7th, 8th and 9th Civil Districts. Individuals living in these districts area asked to fill out the survey atwww.benlomandconnect.com/broadband-survey. Support letters for the grant application may be mailed tocommunitysupport@benlomand.net.
The companies ask residents to use their home internet connection when testing current service speed.
"Grant support is critical to this project, and community support is an important component of the grant application," said Cumberland County Mayor Allen Foster in a recent press release. "Be sure to complete these surveys even if you have done so in the past."
Tennessee has designated $400 million in federal American Rescue Plan Act funds to support broadband internet expansion in the state. Grants are available to providers to expand service to underserved areas.
The state grants include a match from providers — up to 30% of the cost. The Cumberland County Commission voted in January to dedicate up to $3 million of its $11.74 million in ARP funds to support broadband expansion. Providers awarded grants for Cumberland County projects may request 10% to 20% of the funding match requirements from the county.
County support can bolster a grant application, Foster told members of the county commission in January. Plus, the county would have additional assurance the project meets federal requirements for using ARP money if the project has been approved by the state.
Residents across the county have struggled to access reliable, high-speed internet service. Foster said it was the top concern he heard about when running for office in 2018.
Those complaints led to a countywide survey to assess internet access and challenge maps used by the Federal Communications Commission. Those maps had used information provided by internet service companies and were based on Census blocks. If a provider reported one customer in a Census block received high-speed internet service — defined as 25 megabytes per second download speed and 3 megabytes per second upload speed — then the FCC considered the area served.
Residents provided their internet speed data to Foster as part of a 2019 survey. The results showed large portions of the county lacked high-speed internet access and helped providers challenge the FCC maps as they applied for grants.
Companies have since been successful in grant programs, with six grants awarded for expansion of internet service in Cumberland County since February 2020:
—February 2020, $2.2 million USDA Reconnect Grant to Ben Lomand to serve 222 homes across about 100 square miles in the areas of Smith Mountain, Millstone Mountain and Long Rockhouse Branch near Crab Orchard and north of Fairfield Glade west toward No Business Creek and Clear Creek
—April 2020, $2 million grant from the Tennessee Department of Economic and Community Development to Ben Lomand to serve about 1,500 locations in the Hwy. 127 N. area
—October 2020, $1.9 million USDA Reconnect Grant to Ben Lomand to serve 84 addresses and about 25 square miles in the southwestern portion of the county
—December 2020, $3.3 million CARES Act grant to Volunteer Energy Cooperative and Twin Lakes to extend service in the Cumberland Cove area
—February 2021, $4.8 million Rural Digital Opportunity Fund grant to Charter Communications to extend service to about 6,000 additional homes in the county. The new service areas account for about 20% of all households in the county
—March 2021, $1.9 million Tennessee Department of Economic and Community Development grant to Ben Lomand to expand service to 1,125 locations in the county
Grant applications for state funding are due in March, with awards tentatively set for announcement in early summer 2022.
"Remember, just because your location may not be in one of these areas, it doesn't mean you are out of luck," Foster added. "Other providers are seeking grants as well. I will keep you updated as more information becomes available."
Heather Mullinix is editor of the Crossville Chronicle. She covers schools and education in Cumberland County. She may be reached athmullinix@crossville-chronicle.com. || Bitcoin rallies to four-week high, ether hits three-week peak: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -Bitcoin rose to a four-week high on Monday, climbing for a second consecutive session, driven in part by liquidation of some short positions that have accumulated in the virtual currency's recent three-month downtrend. The world's largest cryptocurrency hit $44,524.18 , the highest since mid-January. It was last up 3.8% at $44,024. Since hitting a roughly six-month low on Jan. 24, bitcoin has gained about 35%. Ether, the second-largest digital currency in terms of market capitalization, touched a three-week peak of $3,180 and was last up 3.1% at $3,153.21. It dropped to a six-month trough in late January, but since then, ether, the token used for the Ethereum blockchain, has surged about 47%. "The current rise came after considerable range-bound price action that saw volumes drying and shorts increasing," said Joe DiPasquale, chief executive officer at BitBull Capital, which manages crypto hedge funds. "Typically, when the market is heavily leaning on one side of a trade, too long or too short, the price can move to counter that weight and squeeze positions," he added. Blockchain data provider Glassnode, in its latest research report on Monday, said its charts showed that bitcoin shorts have been under pressure last week, "with a minor skew towards short side liquidations." But it added that the magnitude of the liquidation remains "fairly lackluster," suggesting a short-squeeze is just one factor, among many others, driving the rally in bitcoin. The crypto market has been in recovery mode in recent sessions, posting institutional inflows of $85 million last week, marking the third week of inflows totaling $133 million, according to a report from digital asset manager CoinShares released on Monday. Bitcoin led all inflows, with $71 million, the largest since early December and the third straight week of inflows, with a total of $108 million. For the year, however, bitcoin posted net outflows of $60 million. Ether, on the other hand, posted net outflows of $8.5 million in the week ended Feb. 4, its 9th straight week of outflows, totaling $280 million. That represents 2.2% of assets under management, according to CoinShares. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Chris Reese and Nick Zieminski) || Financial Management Network Inc Buys BTC iShares MSCI EAFE Min Vol Factor ETF, Healthcare ...: Investment company Financial Management Network Inc ( Current Portfolio ) buys BTC iShares MSCI EAFE Min Vol Factor ETF, Healthcare Trust of America Inc, Alger Mid Cap 40 ETF, SPDR Portfolio Short Term Corporate Bond ETF, Realty Income Corp, sells iShares 1-3 Year Credit Bond ETF, Becton, Dickinson and Co, iShares 1-3 Year Treasury Bond ETF, , iShares ESG Aware U.S. Aggregate Bond ETF during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Financial Management Network Inc. As of 2021Q4, Financial Management Network Inc owns 128 stocks with a total value of $217 million. These are the details of the buys and sells. New Purchases: HTA, SPSB, FBRT, FBRT, FGRO, FDX, PH, KKR, FUTY, PFE, UNH, Added Positions: EFAV, MOAT, IVV, IJR, FRTY, O, DURA, NVDA, IJH, ARCC, BIZD, SDG, AMZN, PYPL, VZ, F, CVX, QCOM, VIG, VNQ, IWM, SQ, SPY, ITOT, ARKK, MCD, BAC, AXP, SWKS, LEN, XOM, Reduced Positions: IGSB, IAU, AAPL, EAGG, QQQ, CMF, DIS, V, SPDW, ANGL, GOVT, USMV, REET, AGG, IVW, NET, SPLG, MSFT, ESGE, SPSM, SPYG, SPYV, SPG, GWX, SPMD, ICLN, AOM, SDY, VTI, GLD, GOOG, MA, BRK.B, AMGN, WMT, UNP, TMO, NKE, LMT, IBM, HD, CSCO, XLE, TROW, GS, Sold Out: BDX, SHY, VER, SRPT, WDAY, T, IBB, INTC, IEMG, Warning! GuruFocus has detected 7 Warning Signs with T. Click here to check it out. EFAV 15-Year Financial Data The intrinsic value of EFAV Peter Lynch Chart of EFAV For the details of FINANCIAL MANAGEMENT NETWORK INC's stock buys and sells, go to https://www.gurufocus.com/guru/financial+management+network+inc/current-portfolio/portfolio These are the top 5 holdings of FINANCIAL MANAGEMENT NETWORK INC VanEck Morningstar Wide Moat ETF ( MOAT ) - 293,813 shares, 10.42% of the total portfolio. Shares added by 5.17% iShares Core S&P 500 ETF ( IVV ) - 41,959 shares, 9.28% of the total portfolio. Shares added by 4.74% iShares Core S&P Mid-Cap ETF ( IJH ) - 42,509 shares, 5.59% of the total portfolio. Shares added by 2.46% Apple Inc (AAPL) - 66,892 shares, 5.54% of the total portfolio. Shares reduced by 3.31% Vanguard Health Care ETF (VHT) - 31,753 shares, 3.81% of the total portfolio. Shares reduced by 0.69% Story continues New Purchase: Healthcare Trust of America Inc (HTA) Financial Management Network Inc initiated holding in Healthcare Trust of America Inc. The purchase prices were between $30.02 and $34.72, with an estimated average price of $33.47. The stock is now traded at around $31.890000. The impact to a portfolio due to this purchase was 0.33%. The holding were 21,146 shares as of 2021-12-31. New Purchase: SPDR Portfolio Short Term Corporate Bond ETF (SPSB) Financial Management Network Inc initiated holding in SPDR Portfolio Short Term Corporate Bond ETF. The purchase prices were between $30.89 and $31.11, with an estimated average price of $30.98. The stock is now traded at around $30.790000. The impact to a portfolio due to this purchase was 0.2%. The holding were 14,099 shares as of 2021-12-31. New Purchase: Franklin BSP Realty Trust Inc (FBRT) Financial Management Network Inc initiated holding in Franklin BSP Realty Trust Inc. The purchase prices were between $10.6 and $17.13, with an estimated average price of $15.2. The stock is now traded at around $14.530000. The impact to a portfolio due to this purchase was 0.18%. The holding were 25,926 shares as of 2021-12-31. New Purchase: Franklin BSP Realty Trust Inc (FBRT) Financial Management Network Inc initiated holding in Franklin BSP Realty Trust Inc. The purchase prices were between $10.6 and $17.13, with an estimated average price of $15.2. The stock is now traded at around $14.530000. The impact to a portfolio due to this purchase was 0.18%. The holding were 25,926 shares as of 2021-12-31. New Purchase: Fidelity Growth Opportunities ETF (FGRO) Financial Management Network Inc initiated holding in Fidelity Growth Opportunities ETF. The purchase prices were between $19.75 and $22.58, with an estimated average price of $21.29. The stock is now traded at around $18.055000. The impact to a portfolio due to this purchase was 0.15%. The holding were 15,465 shares as of 2021-12-31. New Purchase: KKR & Co Inc (KKR) Financial Management Network Inc initiated holding in KKR & Co Inc. The purchase prices were between $60.27 and $83.4, with an estimated average price of $74.04. The stock is now traded at around $66.880000. The impact to a portfolio due to this purchase was 0.11%. The holding were 3,180 shares as of 2021-12-31. Added: BTC iShares MSCI EAFE Min Vol Factor ETF (EFAV) Financial Management Network Inc added to a holding in BTC iShares MSCI EAFE Min Vol Factor ETF by 32.80%. The purchase prices were between $73.72 and $77.31, with an estimated average price of $75.76. The stock is now traded at around $74.080000. The impact to a portfolio due to this purchase was 0.51%. The holding were 58,475 shares as of 2021-12-31. Added: Alger Mid Cap 40 ETF (FRTY) Financial Management Network Inc added to a holding in Alger Mid Cap 40 ETF by 23.12%. The purchase prices were between $18.85 and $23.89, with an estimated average price of $21.6. The stock is now traded at around $18.240000. The impact to a portfolio due to this purchase was 0.32%. The holding were 184,213 shares as of 2021-12-31. Added: Realty Income Corp (O) Financial Management Network Inc added to a holding in Realty Income Corp by 85.36%. The purchase prices were between $64.16 and $71.97, with an estimated average price of $68.86. The stock is now traded at around $68.570000. The impact to a portfolio due to this purchase was 0.19%. The holding were 12,653 shares as of 2021-12-31. Added: PayPal Holdings Inc (PYPL) Financial Management Network Inc added to a holding in PayPal Holdings Inc by 64.23%. The purchase prices were between $179.32 and $271.7, with an estimated average price of $214.83. The stock is now traded at around $173.550000. The impact to a portfolio due to this purchase was 0.05%. The holding were 1,616 shares as of 2021-12-31. Added: Verizon Communications Inc (VZ) Financial Management Network Inc added to a holding in Verizon Communications Inc by 28.24%. The purchase prices were between $49.77 and $54.53, with an estimated average price of $52.14. The stock is now traded at around $53.500000. The impact to a portfolio due to this purchase was 0.03%. The holding were 5,204 shares as of 2021-12-31. Sold Out: Becton, Dickinson and Co (BDX) Financial Management Network Inc sold out a holding in Becton, Dickinson and Co. The sale prices were between $235.83 and $257.21, with an estimated average price of $245.62. Sold Out: iShares 1-3 Year Treasury Bond ETF (SHY) Financial Management Network Inc sold out a holding in iShares 1-3 Year Treasury Bond ETF. The sale prices were between $85.49 and $86.06, with an estimated average price of $85.72. Sold Out: (VER) Financial Management Network Inc sold out a holding in . The sale prices were between $46.36 and $52.16, with an estimated average price of $49.13. Sold Out: Sarepta Therapeutics Inc (SRPT) Financial Management Network Inc sold out a holding in Sarepta Therapeutics Inc. The sale prices were between $77.28 and $99.42, with an estimated average price of $85.35. Sold Out: Workday Inc (WDAY) Financial Management Network Inc sold out a holding in Workday Inc. The sale prices were between $249.68 and $300.9, with an estimated average price of $278.01. Sold Out: AT&T Inc (T) Financial Management Network Inc sold out a holding in AT&T Inc. The sale prices were between $22.17 and $27.35, with an estimated average price of $24.71. Here is the complete portfolio of FINANCIAL MANAGEMENT NETWORK INC. Also check out: 1. FINANCIAL MANAGEMENT NETWORK INC's Undervalued Stocks 2. FINANCIAL MANAGEMENT NETWORK INC's Top Growth Companies, and 3. FINANCIAL MANAGEMENT NETWORK INC's High Yield stocks 4. Stocks that FINANCIAL MANAGEMENT NETWORK INC keeps buyingThis article first appeared on GuruFocus . || Elon Musk guesses who bitcoin's mysterious creator, Satoshi Nakamoto, might be: Elon Musk. MARK RALSTON/AFP via Getty Images The secretive crypto expert Nick Szabo might be Satoshi Nakamoto, according to Elon Musk. "He seems to be the one more responsible for the ideas behind bitcoin than anyone else," Musk said. Szabo has spoken publicly about the bitcoin's history but has repeatedly denied that he is Nakamoto. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Elon Musk seems to agree with many that the hypersecretive cryptocurrency expert Nick Szabo might be Satoshi Nakamoto, the mysterious creator of the digital currency bitcoin . "You can look at the evolution of ideas before the launch of bitcoin and see who wrote about those ideas," Musk told the artificial-intelligence researcher Lex Fridman in a podcast published Tuesday when asked what he thought about Nakamoto's identity. The Tesla billionaire said while he "obviously" didn't know who created bitcoin, Szabo's theories seemed fundamental to the creation of the leading cryptocurrency. "It seems as though Nick Szabo is probably, more than anyone else, responsible for the evolution of those ideas," he said. "He claims not to be Nakamoto, but I'm not sure that's neither here nor there. But he seems to be the one more responsible for the ideas behind bitcoin than anyone else." Bitcoin was first proposed in October 2008 by Satoshi Nakamoto, a pseudonym for who people believed could be one person or several people. In 2014, a team of linguistic researchers studied Nakamoto's bitcoin whitepaper alongside the writing of Szabo and 10 other possible creators. They found the results to be indisputable. "The number of linguistic similarities between Szabo's writing and the bitcoin whitepaper is uncanny," the researchers said, adding: "None of the other possible authors were anywhere near as good of a match." A 2015 New York Times report also pinned bitcoin's invention on Szabo. He has spoken publicly about the history of bitcoin and blockchain technology, but he's repeatedly denied claims that he's the anonymous inventor behind the digital asset. Another reason he's linked to bitcoin is his creation of the "bit gold" cryptocurrency in 1998 . Story continues Musk indicated he didn't think there was much significance behind the identity of bitcoin's creator: "What is a name anyway? It's a name attached to an idea. What does it even mean, really?" Backing his thought, he quoted William Shakespeare to say: "A rose by any other name would smell as sweet." Read more: 4 crypto experts break down the red-hot trend of cryptocurrency airdrops and share the potential risks and rewards as more tokenless protocols seize on the rush to reward early adopters Read the original article on Business Insider || Bitcoin (BTC) Fails to Revisit $40,000 as Regulatory Activity Tests Support: After having seen a 3-day losing streak come to an end last Sunday, Bitcoin ( BTC ) rose for a 2 nd consecutive day on Tuesday. Following a 1.55% gain on Monday, Bitcoin ended the day up by 0.59% to $38,721. For the Bitcoin bulls, while 8 days in the green from 10 sessions is positive, Bitcoin has failed to breakout from its current ranges. After recovering from a January low $32,991, a Tuesday high $39,281 has been its highest reach since the 21 st January sell-off. Regulatory Activity a Hurdle for the Bitcoin Bulls The NASDAQ continues to head northwards, in spite of market sentiment towards FED monetary policy. A 5-day winning streak has seen the index rise by 5.96% over the period. By contrast, Bitcoin was up by 4.12% to Tuesdays close. Considering crypto volatility and market risk profiles, Bitcoin movement has been range-bound. A marked pickup in regulatory activity has likely hindered Bitcoins return to $40,000 levels. On Tuesday, news hit the wires of the Indian government planning to roll out a 30% crypto tax. With news of a White House Executive Action on crypto regulations also hitting the wires, regulatory risk remains a key driver for the crypto market. The Bitcoin Fear & Greed Index A 2 nd day in the green for Bitcoin supported a modest rise in the Bitcoin Fear & Greed Index . Having recovered from a pullback to 20/100, the Index currently sits at 28/100, just short of Januarys high 29/100. While inching closer to the orange zone, the Index last sat outside of the red zone back on 28 th December (41/100). Uncertainty continues to peg the Index back, which is aligned with Bitcoins price movements at the turn of the year. Back in November, the Index had risen to 84/100 on 9 th November before the broad-based crypto market sell-off. Bitcoin Price Action At the time of writing, Bitcoin was down by 0.53% to $38,516. A move back through the days $38,679 pivot would support a run at Tuesdays high $39,281 and the first major resistance level at $39,323 into play. Story continues An extended crypto rally, however, would bring $40,000 levels into play for the first time since 21 st January. The second major resistance level sits at $39,926. Failure to move back through the days pivot would bring the first major support level at $38,076 into play. Barring an extended sell-off on the day, Bitcoin should avoid sub-$36,500. The second major support level at $37,432 should limit the downside. Looking at the EMAs, the signal remains bearish. The 50-day EMA has pulled further back from the 100-day and 200-day EMAs. The 100-day EMA has also pulled back from the 200-day EMA, another bearish signal. Significantly, Bitcoin continues to sit well below the 50-day EMA that holds at $43,000 levels. Failure to move back through to $40,000 could deliver another reversal. Much will depend, however, on regulatory activity in the coming days. Looking across at the U.S futures market, the NASDAQ 100 mini was up by 135 points, at the time of writing, providing some support. This article was originally posted on FX Empire More From FXEMPIRE: Renewed Selling Pressure Could Drive NZD/USD into .6589 Silver Prices Edged Higher as Dollar Falls from Peak Highs BitMEX Distributes 1.5m BMEX Tokens on Crypto Token Launch Astra Protocol Launches Compliance Hub in The Sandbox Metaverse MicroStrategy Buys Another 660 Bitcoin for $25 Million in Cash Natural Gas Markets Continue to Show Hesitation Near $5.00 || Texas Crypto Miners Shuttering Operations as Winter Storm Approaches: A number of crypto miners in Texas are already shutting down some or all their operations as the region awaits an Arctic blast that is likely to test the states power grid this week. The miners, many of whom flocked to the state in recent months to take advantage of Texass low energy costs, say they will reduce their energy consumption to help avoid a power failure similar to the one Texas experienced in 2021 . That outage left about 4.5 million homes and businesses without power and led to nearly $200 billion in property damage. These efforts will dovetail with those of the Electric Reliability Council of Texas (ERCOT), which operates the Texas grid and said on Wednesday that it would use all tools to manage the grid. Some of the miners will also be taking advantage of state incentives to ratchet back their power usage. Read more: Bitcoin Mining Is Reshaping the Energy Sector and No One Is Talking About It Riot Blockchain, one of the biggest North American miners, has already reduced its energy usage at its Whinstone facility in Rockdale by 98$%-99%, Trystine Payfer, Riots director of communications, told CoinDesk. We will continue to do so as needed until there is no extreme stress on the ERCOT grid, she added. Compute North, which hosts bitcoin miners in its data centers, told CoinDesk that it is also closely eyeing the storm. We are prepared to respond [in] real time to curtail our operations in order to support ERCOT, grid stability and power demand, Compute North Director of Energy Peter Liska said. Nathan Nichols, the co-founder and CEO of Texas-based miner Rhodium, tweeted that miners in the state were curtailing their load starting TODAY to help provide excess power reserves for #WinterStormLandon . To be sure, in Texas there are programs available for heavy power consumers such as crypto miners to give them incentives to lower their energy usage during peak demand periods. For example, in exchange for helping ERCOT stabilize the grid, Riot gets to participate in load management programs and other services, including some long-term, lower, fixed-pricing agreements, Payfer said. Compute Norths Liska said that demand response programs, which allow customers to reduce their electricity usage when energy prices are high, are one way for the company to balance power generation and consumption during peak demand. Rather than incremental energy production, we reduce our load giving power back to the grid, which is more cost effective and efficient than spinning up additional energy reserves, Liska added. || Cross-Asset Trading Platform's Native Token DIFX Surges over 600% on CoinMarketCap: Grand Cayman, Cayman Islands--(Newsfile Corp. - January 28, 2022) - On 27th January 2022, The Digital Financial Exchange's crypto utility token DIFX was listed on CoinMarketCap and quickly achieved the spot of the number 1 Gainer with an impressive surge of 600%. Amidst the seemingly endless crypto projects, DIFX stands out as a unique crypto exchange due to its innovative fully insured cross-asset ecosystem and its very own utility token also called DIFX. In fact, the token has also been recognised as one of the hottest pairs in dextools and GeckoTerminal.
Figure 1: DIFX Listed on CoinMarketCap
Although being a relatively new crypto token, DIFX has already created a storm in the crypto industry by being listed on Coin Market Cap, where it has earned the spot of the Top Gainer as of 27th January 2022.
Figure 2: CMC Gainers (Source:https://coinmarketcap.com/gainers-losers/)
About DIFX:
The Digital Financial Exchange is a comprehensive ecosystem that leverages and innovates blockchain technology in multiple ways. An exchange with core competencies in creating blockchain applications, providing liquidity, custodian services and 24/7 multi-language support. Moreover, the central component of the exchange is its fully insured Cross-Asset trading platform that bridges the gap between traditional and crypto trading. Its unique ecosystem allows users to trade and invest across multiple asset classes that range from Forex, Indices, Metals, Crypto etc. all under one trading platform. DIFX has created its very own custom MT5 platform to allow traders to trade with over 600 instruments like BTC & Gold, ETH & Crude oil, DogeCoin & Apple Stocks etc. To make things even better, DIFX has also launched a spot exchange available on the Web, iOS & Android, where the world's top cryptos are available to trade and stake alongside its very own utility token called DIFX.
Figure 3: DEXTOOLS DIFX (Source:https://www.dextools.io/app/)
The DIFX Token
The DIFX token is a utility token based on the Ethereum/Binance Smart Chain blockchain, it is a decentralized digital asset that is both ERC-20/BEP-20 compliant. The token is the driving force of the DIFX ecosystem; it includes main utilities regarding the governance and transaction fees within the exchange. It is the primary representation of the DIFX platform and is key to strengthening the reliability and transparency of worldwide payments and transfers.
Journey so far
As a relatively young centralised exchange, DIFX has already stirred up a storm within the traditional and crypto industry by winning the award for Best New Trading Platform 2021 from Entrepreneur Middle East and the Forex Expo conducted last year. Its unique cross-asset nature has opened the door to the crypto space to many traditional traders, corporations and brokers. The fully insured crypto wallet has also made it highly attractive to the crypto audience across the world. Something that also sets the exchange apart from others is its commitment to increase the adoption of crypto by introducing the DIFX Academy.The DIFX Future:
With the crypto industry growing rapidly, institutional interest in cryptocurrency is also slowly rising. Industry leaders like Fireblocks, a partner of DIFX, have already established numerous monetary incentives for additional institutional groups to enter the sector. For a growing community of institutional crypto investors, DIFX serves as a perfect ecosystem with its reliable cross-asset platform, fully insured wallet and capabilities to have a large and diverse asset portfolio. Additionally, the rising popularity of its utility token in the crypto market further solidifies the capabilities of the exchange and gives real trading utility to the DIFX exchange users. For DIFX, the Coin Market Cap listing is only the beginning of a future with Endless Possibilities.About DIFX
DIFX is an exchange platform that incorporates centralized finance through the use of blockchain technology. It is a user-friendly platform that is suitable for both novice and experienced traders, institutions, and investors. By eliminating intermediaries, the company hopes to increase the usage of digital currencies for direct settlement between recipient and payer. Download the app now atiOSorGoogle Play Storeor visit us athttps://bit.ly/DIFXecosystemto start your journey with Endless Possibilities.
Media Contact
Company Name :- DIFXEmail Id :- marketing@difx.ioCompany Website :-https://difx.io/
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To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/111938 || Mark Zuckerberg's controversial crypto project Diem is looking to repay investors by selling its assets, report says: Mark Zuckerberg. Drew Angerer/Getty Images Facebook-backed digital currency project Diem may sell its assets due to regulatory pressure, Bloomberg reported. Diem is in talks with investment banks about how best to sell its intellectual property and cash out any remaining value, the report said. Riddled with regulatory hurdles, Facebook's crypto chief David Marcus left the company last year. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Regulatory pressures have stalled Facebook's once-ambitious Diem cryptocurrency project. The venture, formerly known as Libra, is now considering a sale of its assets as a way to repay investors, Bloomberg reported Tuesday. Diem, which was expected to launch a trial last year, is now in talks with investment banks about the best approach to selling its intellectual property and redeeming any remaining value, the report said, citing people familiar with the matter. It isn't clear how Diem's intellectual property would be valued by potential buyers or the engineers behind the project. Talks are in early stages and there's no guarantee of a buyer, according to Bloomberg. Bitcoin advocate Jack Dorsey reacted to the report, tweeting : "carpe diem." Diem, an ambitious venture announced by Facebook (now Meta) in 2019 , was meant to operate as a digital currency, and be an alternative to the US dollar and other foreign currencies managed by governments. The original plan was for it to be backed by a wide mixture of currencies and government debt. But because of concerns among regulators that it could upend financial stability and evade user privacy, Facebook said it would launch only as a single coin backed by the dollar. CEO Mark Zuckerberg even testified to Congress in October 2019, saying Diem would only be released after receiving full US regulatory approval . But the stablecoin project repeatedly came under the regulatory radar despite counting prominent backers like Mastercard, Visa, and PayPal, who eventually ditched Diem over scrutiny. Story continues Eventually, internal disruption seems to have doomed the project as Facebook's crypto chief, David Marcus, left the company last year. The Diem Association had agreed with crypto bank Silvergate Capital to issue its stablecoin, but opposition from the Federal Reserve blocked final efforts, Bloomberg reported. Fed officials told Diem advocates that it was uneasy with the plan and couldn't allow it go ahead, sources told Bloomberg. The Diem Association declined to comment on the matter. In November, the Joe Biden administration released a report calling on Congress to regulate stablecoins if they are to be used as a means of exchange. It also warned against excessive power that might come with a commercial entity that is acting as a stablecoin issuer. "The combination of a stablecoin issuer or wallet provider and a commercial firm could lead to an excessive concentration of economic power," the President's Working Group on Financial Markets said in the report. Read More: Circle founder Jeremy Allaire explains why he thinks bitcoin will eventually surpass gold to hit $1 million - and charts his own route to testifying before Congress last year as one of crypto's 'grown ups' Read the original article on Business Insider || Amazon Could Be The First Among FAAMG to Launch a Crypto Token: A recent Amazon advert has got the crypto world buzzing. The retailer advertised for a lead position in digital currencies and blockchain. The news excited crypto enthusiasts who couldn’t stop speculating on the move’s meaning. Some went as far as suggesting that Amazon teased its entry into the crypto space.
This development saw the firm scramble for a clarification. It refuted that it was entering the crypto sector. But Its denial did little to quell the growing speculation. If anything, it left more answers than questions. Chief among these questions is what the idea means for Amazon’s crypto interests.
It poses questions about the retailer’s crypto push compared to other FAAMG members. The other members of the quintet areFacebook,Apple,Microsoft, andGoogle. Could some factors give Amazon the advantage over them in their bid to launch crypto tokens? This article assesses why Amazon could become the first of the FAAMG to launch a crypto token.
The growth of crypto payments has sent many industry players back to the drawing board. They’ve had to reconsider placing cryptocurrencies in their operations. The FAAMG quintet hasn’t lagged in this either. That said, in the crypto adoption race, Amazon seems to have the edge over the other four. Here are the top reasons why it could pioneer in launching a crypto token.
Amazon isn’t a newbie in the crypto sector. Its interest in the area goes back to 2013. Then, the company launchedAmazonCoins, a virtual currency used by its customers. Can use them to buy Kindle-based apps and games.
The token goes for about $0.01 and has wide acceptance within Amazon’s ecosystem. Should the company decide to issue a native token, it already has a prototype to work with. Developing a token is a time-consuming venture. So since Amazon has a functional currency in use, transforming it into a token will be effortless. Unlike the rest, Amazon wouldn’t have to start from scratch.
According to a recentMorning Consult study, Amazon is the fifth most trusted brand in the world. Although Google and Microsoft ranked ahead, they’ve faced accusations of data mining. Facebook also continues to face the same allegations.
Amazon may also mine data, but in contrast, it allows users greater freedom in what they’d want to share. One of the cryptos’ selling points is confidentiality. On this score, it’s easy to see why the public would accept Amazon’s token compared to the rest.
Another factor playing to Amazon’s advantage is itsAmazonWeb Service (AWS). AWS is the firm’s computing arm providing BC service known as the managed blockchain. Many global firms have been renting access to the network rather than building their own.
AWS is a perfect fit for launching the Amazon token should the company decide to do so. For one, it’s a proven BC system backed by the trust of thousands of global firms. So, it makes total sense that deploying a crypto token would be an easy thing to do.
The firm is already a key player in the crypto universe. Amazon supports a quarter of the globalEthereum(ETH) workload. This is a justifiable fact as ETH is second only toBitcoin(BTC) in market share. But ETH is more than a currency; it’s a whole financial ecosystem.
Other players in the industry are still developing their BCs. ETH is evolving to include more functionalities. And with it, so has AWS’ significance within the crypto space. When Amazon launches its token, it’ll use AWS’ experience and reputation. It will thus reach the masses.
Amazon’s advert came out as a dead giveaway on its crypto project. Why else would they want to hire for such a position? Again, it followsCoinDesk’s February reporton Amazon’s “digital currency” project in Mexico. Furthermore, the firm has in the recent past announced over 70 openings for BC experts. What’s clear is that Amazon is beefing up its BC and crypto teams. It’s doing so to make its presence in the crypto space permanent.
In 2017, Amazon acquired three crypto-related domains. These are:
• AmazonEthereum.com
• AmazonCryptocurrency.com
• AmazonCryptocurrencies.com
It has also indicated an interest in Proof of Work and Merkle Trees cryptosystems. The move gives it a head start over the other four.
Statista reportsby Q1 2021, Prime – its premium membership platform -had 200 million members. The membership renews at $119 annually. Members enjoy certain privileges from the retailer. Besides their loyalty, prime members are early adopters. Thus, they will readily embrace an Amazon token upon launch.
Amazon has a reputation for disrupting industries. And AWS has enabled firms to cut third parties from their functions. There’s no reason why it can’t use the platform for its crypto offering.
Despite Amazon denying that it’ll be accepting cryptos, their statement speaks otherwise. The emphasis, in their view, is the denial of the timeline. It isn’t their interest in accepting cryptocurrencies. Major tech companies are growing their interest in cryptocurrencies. And there’s no doubt that Amazon will embrace them sooner or later too.
Here, there are several points worth mentioning. First, it’ll install crypto payments or tokens in its cloud and intellectual products.
Banks provide major online stores with quite favorable terms. So, crypto payments do not solve any of their most pressing problems. Accepting crypto for such e-commerce platforms is more reputational than economic.
Secondly, Amazon is more interested in accepting payments through its token. That is, they’re creating their ecosystem within the existing platform. The ecosystem is already there, and the token will fit in easily. It’s easy to assume that Amazon’s plans to accept crypto payments extend into BTC and ETH at most. But not the whole list of cryptocurrencies, asCity AM had reported.
Amazon’s entry into crypto is good, even commendable. But it may not be without its downsides. The firm has come in for criticisms on how it operates.
Firstly, critics speak of its monopolistic tendencies. In the past, it has used patents as an anti-competitive measure. A monopoly with the might that Amazon has would spell disaster for the crypto space.
Secondly, it has previously practiced price discrimination. It apologized and offered refunds for affected customers following the fiasco. There’s no telling if the firm won’t go back to the same discriminatory measures.
When you’re Amazon, the public scrutinizes your every move. It wouldn’t matter even if it’s filling up an opening in one of your departments. Recently the firm announced that it was recruiting a blockchain and crypto lead. The successful candidate would drive the retailer’s vision and strategy in that space. The news sent the crypto world into a frenzy speculating on what the move meant.
So, Amazon denied that it was preparing to accept crypto payments. But the denial did little to quell those speculations. Some crypto enthusiasts contend that Amazon is coy about its crypto interests. They pointed out that it can’t lag as other tech giants embrace the technology.
Further, they posit that it has a headstart over the other members of the FAAMG in the race for crypto adoption. For now, let’s wait and see what Amazon’s next move will be. But, what’s not in doubt is that its adoption of cryptos is a matter of time.
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 38431.38, 37075.28, 38286.03, 37296.57, 38332.61, 39214.22, 39105.15, 37709.79, 43193.23, 44354.64
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-02-08]
BTC Price: 46196.46, BTC RSI: 75.09
Gold Price: 1831.90, Gold RSI: 46.38
Oil Price: 57.97, Oil RSI: 79.26
[Random Sample of News (last 60 days)]
Bitcoin Outlook: My Mantra for 2021 Can Make You Money: I have a new mantra for 2021: image of bitcoin to represent cryptocurrency stocks Source: Shutterstock Buy the dip. Its actually not that new. Its a cornerstone of my long-term investing philosophy. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Assets dont go up in a straight line. So, if you know the longer-term trend is up, those dips that sometimes look like crashes are in fact bargain opportunities. The prime example happened nearly one year ago when stocks descended into a bear market faster than at any other time in history. The market is back at all-time highs, and many stocks have multiplied in the recovery. Buying opportunities of that magnitude are rare, but normal pullbacks happen all the time. Thats what we saw this week in one of the hottest investments out there, and you can bet I was practicing what I preach
Before I went to bed Thursday night, I bought more bitcoin. And as I write this Friday afternoon, the crypto is up 10%. So far, so good
but I never expect a straight shot up. And if it dips again, Ill probably buy some more. When identifying buying opportunities, I look at both the charts and the big picture. Lets start with a few bitcoin charts. Heres the five-day chart through Friday morning
kind of scary, huh? Lets zoom out a little bit and look at the last month. Its better, but the action still probably wouldnt alleviate all your concerns: And finally, lets look at the one-year chart. All of a sudden, that 25% pullback you see above (from $41,000 to $31,000) seems a lot less frightening. I wasnt the only one buying. Michael Saylor, CEO of MicroStrategy, tweeted that his company bought $10 million more in bitcoin, making the companys total stake of 70,784 bitcoins worth $2.3 billion. I wouldnt buy more if I wasnt convinced of the long-term potential
and neither would MicroStrategy So if you think you missed the crypto train, you can relax. Even if cryptocurrencies pull back again in the coming weeks and months, the strong fundamentals that drove the massive rally will fuel the next one. And at that point, we could easily be looking at Bitcoin $100,000. Story continues If youre a regular MoneyWire reader, you know that as much as I like bitcoin
I like altcoins even more. Altcoin is a fancy name for any cryptocurrency other than bitcoin. Its the oldest and the largest, so its in a class buy itself. But invest in the right altcoins, and you could be looking at massive, potentially life-changing growth . Ive mentioned before that you should view altcoins as revolutionary new software programs not fantasy internet money. And that brings me to a big cryptocurrency catalyst on the horizon. Its a special situation rapidly unfolding in the crypto markets right now, and I can tell you what it is in two words: Decentralized finance. Or DeFi, if you prefer it in one word. DeFi is a global movement toward an open financial system. Im talking savings, loans, insurance, trading, betting, and more
all accessible in one place to anyone with an internet connection. Best of all
the government can never touch it. Remember, bitcoin and altcoins are run on the blockchain, which means smart contracts. We dont need an intermediary like a lawyer or banker with smart contracts. This could end up saving us thousands of dollars and man-hours in the long run. I like to think of DeFi as a high-tech vending machine. With just a single click of your finger, youll be able to take out a loan or mortgage
buy a new insurance policy
make money loaning out your money
invest in stocks, bonds, or any other asset class
and deposit your cash into a safe savings account. Youll do all of this in one place right from your phone or computer without dealing with middlemen and their unnecessary fees. Let me give you a couple of examples. One is a DeFi altcoin called Compound . It is revolutionizing the way we borrow and lend money by allowing you to lend out crypto and earn interest in return. You can even use Compound to take out a loan without using a bank or middleman. Aave is another altcoin in the DeFi space. Its similar to Compound in that it helps people earn interest on their assets and take out loans. Aave grew 24,532% in just over one year. Thats equivalent to a 250X gain! DeFi is set to become the biggest revolution to occur in finance in centuries. InternationalBanker.com calls it a major breakthrough in the world of financial services. And as a result, it can unleash a powerful new wealth-creation force . So you need to know about it now. On the date of publication, Matthew McCall did not have (either directly or indirectly) any positions in the securities mentioned in this article. Matthew McCall left Wall Street to actually help investors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Click here to see what Matt has up his sleeve now . More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Americas #1 Stock Picker Reveals His Next 1,000% Winner Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company Radical New Battery Could Dismantle Oil Markets The post Bitcoin Outlook: My Mantra for 2021 Can Make You Money appeared first on InvestorPlace . || Bitcoin breaks above $20,000 for first time: LONDON, Dec 16 (Reuters) - Bitcoin smashed through $20,000 for the first time on Wednesday, its highest ever.
The cryptocurrency jumped 4.5% to move as high as $20,440.
Bitcoin has gained more than 170% this year, buoyed by demand from larger investors attracted to its potential for quick gains, purported inflation-resistant qualities, and expectations it will become a mainstream payment method. (Reporting by Thyagaraju Adinarayan, editing by Karin Strohecker) || 2 Undervalued Gold Miners, According To RBC: The price of gold remainsrestrainedin the new year, although analysts generally agree that the setup for the yellow metal is positive. RBC Capital Markets analysts noted that policy is very accommodative, but any signs of economic growth could change it.
Positive Outlook For gold In 2021
Analyst Josh Wolfson and his team noted that theprospectof more stimulus under Joe Biden's administration is a tailwind for gold. It also yielded negative real rates globally. They expectinterest ratesto remain at zero until 2023, assuming a protracted recovery and low inflation.
However, the RBC team also said inflation expectations have climbed with the potential for additional traction appearing in the first half of the year. They also point out that nominal yields have lagged. Further, Wolfson and his team said the Federal Open Market Committee could eventually skew rates tighter than the baseline. They added that U.S. net speculative positions are heavily short.
Robust Setup For Gold Equities Too
Higher gold prices have resulted in record free cash flow and deleveraging among gold miners, however the RBC team said decision-making remains conservative among miners. Companies are also being responsible about their capital investment, and RBC feels that long-term production is sustainable.
One key theme for gold miners is the return of capital. Wolfson and his team said dividend yields are running 1.7%, which is sustainable down to a price of $1,350 an ounce for gold. They also said the valuations of miners do not reflect higher gold prices being sustained.
Royal Gold
The RBC team looked at two gold stocks, in particular. They see Royal Gold (NYSE:RGLD) as an attractive, low-risk business insulated from inflation trends and direct operating risk. Wolfson and his team added that the company has a high EBITDA margin of 80% and high free cash flow conversion at about 90%. Royal Gold also has low dilution.
The RBC analysts forecast 13% growth for the company, driven by its Cortez and Penasquito, Koemacau development and the COVID rebound. They believe Royal Gold's output is sustainable until at least 2025. Wolfson and his team also said the company is well-positioned financially with $140 million in net cash, $1.14 billion in liquidity, and cash growth net of dividends of $350 million to $400 million at spot prices.
They have an Outperform rating and $150 price target on Royal Gold, and they describe its valuation as "highly attractive." The key risks are the competitive transaction landscape, potential changes in the U.S. tax law, and execution at Khoemacau.
Kinross Gold
The RBC team also likesKinross Gold(NYSE:KGC). They said the company is a first-quartile cash flow generator that benefits from gold prices, the capital expenditures cycle, and margin improvement. Wolfson and his team also said Kinross Gold's risk profile has improved after the Mauritania fiscal update and its deleveraging cycle.
The company has a track record of favorable capital allocation and a history of achieving guidance. The RBC team has an Outperform rating and $12 price target on Kinross Gold, which they say is a discounted valuation. Risks improve above-average political risk exposure and project execution at Tasiast, Gilmore, and La Coipa.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || MORNING BID-Rational bubble, reasonable doubts: A look at the day ahead from Julien Ponthus With Wall Street and Asian bourses ending their session just shy of record highs, one could be tempted to draw the conclusion that the so-called 'rational bubble' narrative lifting equity markets remains a consensus view among investors. But U.S. Treasury markets, where yields have jumped to their highest in 10 months, have fuelled reasonable doubts on the sustainability of the rally in a world plagued by a resurgent pandemic. What if the genie of inflation suddenly gets out of the bottle? What's the risk then of a policy mistake and central bankers jumping the gun on rate hikes and stimulus withdrawal? At the moment, the tapering discussion is a closely watched one and is yet balanced with hawkish comments from the likes of Fed officials Bostic and others such as James Bullard who argue it was too early to discuss tapering. Bullard's comments, alongside Tuesday's well-received auction of 10-year Treasuries pushed 10-year Treasury yields down more than 5 bps off 10-month highs. Against that backdrop, U.S. December inflation data will be closely watched today. Given the ongoing retail trading mania, inflated equity valuations and the Bitcoin frenzy, traders' thoughts could be turning to the early-2018 inflation scare that triggered a sharp sell-off and forced investors to reassess equity risk premia. In the meantime, any pullback such as this morning's with flat European futures and stable to lower bond yields might be welcome. Key developments that should provide more direction to markets on Tuesday: -Canadian convenience-store operator Alimentation Couche-Tard initiates takeover talks with Europe's biggest retailer, Carrefour. -St. Louis Fed President James Bullard speaks at a Reuters Next Virtual Forum at 1430 GMT. -Italy's Matteo Renzi to hold press conference at 530 pm local time to decide on whether to topple the government by withdrawing his ministers. -European food-ordering firm Just Eat Takeaway.com received 57% more orders in Q4 versus year-ago levels; British homebuilder Persimmon says forward sales up by a quarter; Supermarket Lidl saw UK Christmas sales up 17.9% || What Bloomberg Gets Wrong About Bitcoin’s Climate Footprint: Recently, Bloomberg published apiececalling Bitcoin an “incredibly dirty business.” It’s undeniable that the Bitcoin blockchain has a carbon footprint. Some bitcoins are mined with non-renewable energy, although plenty is mined with hydro, nuclear, or otherwise-vented natural gas, too. No one contests the externality ofbitcoin, although the precise carbon footprint is debated. However, the article, by opinion columnist Lionel Laurent unfortunately relies on the flawed assumption that individual bitcoin transactions carry an energy overhead.
The question of bitcoin’s energy footprint is riven with misconceptions. Firstly, it’s a mistake to compare bitcoin to payment networks, and comparisons relying on relative energy use are spurious.
CoinDesk columnist Nic Carter is partner at Castle Island Ventures, a public blockchain-focused venture fund based in Cambridge, Mass. He is also the co-founder of Coin Metrics, a blockchain analytics startup.
Related:Investors Pump $250M Into Reddit Following Social Media Site's Role in GameStop Mania
Second, metrics like the “per-transaction energy cost” are misleading because transactions themselves do not cost energy; nor does bitcoin’s CO2 footprint scale with transactional count.
Bitcoin supporters and critics alike should understand how the protocol works, so the energy costs and externalities of the system can be honestly appraised.
In the Bloomberg piece, the author states:
One Bitcoin transaction would generate the CO2 equivalent to 706,765 swipes of a Visa credit card, according to Digiconomist’s closely-followed index, albeit withnoneof the convenience of plastic.
Related:Bitcoin Tops $47K After Tearing Through $45K, $46K in Tesla-Fueled Rise
But the “energy exchange rate” methodology the author relies on is completely mistaken. Bitcoin transactions are not equivalent to Visa transactions. They are different in both form and substance.
First of all, Bitcoin and Visa are fundamentally different systems. Bitcoin is a complete, self-contained monetary settlement system; Visa transactions are non-final credit transactions that rely on external underlying settlement rails. Visa relies on ACH, Fedwire, SWIFT, the global correspondent banking system, the Federal Reserve and, of course, the military and diplomatic strength of the U.S. government to ensure all of the above are working smoothly.
Any energy comparison must take the above into account – including the externalities from the extraction of oil, which implicitly backs the dollar. As those who make this comparison inevitably fail to mention, the dollar’s ubiquity is partly due toa covert arrangementwhereby the U.S. provides military support to countries like Saudi Arabia thatagree to sell oil exclusively for dollars. It’s worth noting that the grossly oversized U.S. military, whose presence worldwide is necessary to backstop the international dollar system, is thelargest single consumer of oilworldwide.
Bitcoin transactions, by contrast, rely just on bitcoin. Bitcoin proposes a new monetary unit (also named bitcoin) and mediates its circulation through the Bitcoin protocol, which is administered by nodes and miners. Bitcoin’s energy footprint is highly transparent, due to the accessible and highly integrated nature of the system. This provides fertile ammunition for critics who can easily estimate the externalities of Bitcoin while insisting no equivalent ones exist for the dollar system. But the two systems are different.
Until Visa marshals its own private armies to keep the integrity of the dollar intact, the comparison will be a specious one.
Bitcoin is a full-stack monetary and payments system. Visa is a thin layer within the international dollar system, wholly reliant on seamless interoperability of the rest of the payments and settlement pyramid. Until Visa marshals its own private armies to keep the integrity of the dollar intact, the comparison will be a specious one.
If you look at the actual characteristics of Bitcoin transactions as compared with Visa, their differences are clear. While both systems transmit trillions of dollars of value per year, they do so in radically different ways.
InQ4 2020, Visa processed $2.4 trillion in payments volume via 49.6 billion transactions. That gives us an average transaction size of $46.37. Bitcoin, by contrast, settled $397 billion (using Coin Metrics’ adjusted volume estimates) over the period and handled 25.3 million transactions. The average transaction size for Bitcoin over the period: $15,719. During that time, there wereeight distinct transactionsworth over $1 billion. Thelargest among thesesettled a mammoth $2.48 billion, given bitcoin’s price at the time.
And not only can transactions be very large, but they can direct value to a number of recipients all at once. The largest-ever transaction in terms of payments contained13,107 outputs. Under current constraints, a Bitcoin transaction could theoretically contain up to32,256 outputs. And of course, layered or sidechain approaches which propose new trust models like Lightning, Liquid, RSK, and Stacks introduce the potential to batch thousands of transactions and settle them on the base layer. A single Bitcoin transaction can settle millions of lightning payments.
See also: Nic Carter –The Last Word on Bitcoin’s Energy Consumption
So not only are Visa transactions generally much smaller than Bitcoin transfers, but they are different from an assurance perspective. Bitcoin providesfinal settlementwithin a few blocks. This means there is no risk of transaction reversal. The payment itself is integrated with the settlement – there is no distinction. Visa credit payments, by contrast, are designed to be reversible, if need be. This is why cardholders generally have the option of making chargebacks within 90 days of their payment.
Much to the chagrin of some merchants, payments are not bundled with settlement. Instead, the Visa payment process is a tangle of distinctauthorization, clearing, and settlementsteps. Actual final settlement happens on an aggregate net basis between merchants banks (who manage the accounts for card-accepting merchants) and issuing banks (who manage the cardholder accounts) via ACH or wire transfer. This means that payments are bundled up and settled on an end-of-day basis through utility-grade settlement channels. The individual payments made when you swipe your card are several layers removed from the final flows of funds between banks.
These gigantic wire transfers that power settlement between cardholder banks and merchant banks for Visa are the transactions most comparable to those of Bitcoin. The individual payments happening between Visa users and Visa merchants are unsettled IOUs. If you consider ACH and especially Fedwire transfers, their characteristics are much more akin to Bitcoin. Typical ACH transfers clear thousands of dollars, while your averageFedwire transfer settles millions.
Fedwire transfers are “push” rather than “pull” – bank accounts have to be fully funded on the originating side for the transfer to process. No netting occurs in Fedwire: it is what’s called a “real-time gross settlement system.” Fedwire’s counterpart, CHIPS, which is used for international dollar settlements, does include significant netting (checking if banks are paying each other and only sending the difference). Unlike a check, or a Visa payment, you cannot reverse a wire transfer. This gives wires strong finality, and good settlement assurances (sound familiar?). And like Bitcoin, Fedwire processes a few hundred million transactions a year. In Q4, itaveraged550,000 txns per day. In that period, Bitcoin averaged 824,000 daily payments in 305,000 daily txns.
These systems scale with transactional size, not frequency. So if you’re going to compare Bitcoin to established transaction systems, compare like with like. (Note that SWIFT is not an apt comparison to Bitcoin: it is a messaging rather than a settlement system and generally relies on third-party settlement through Fedwire or CHIPS.)
Now we’ve established that Bitcoin transfers are much more akin to wire transfers, let’s consider the actual “cost” of Bitcoin transactions. The quantitative assumptions made by Bitcoin critics – that transactions have a certain energy overhead – need to be contextualized.
Constructing a Bitcoin transaction, and getting the network to accept it, costs virtually no energy whatsoever. What costs energy is grinding through the nonce space to find valid blocks. Miners do this because they are compensated primarily with thecoinbase reward of6.25 BTC per block, which is defined in the protocol. Currently, miners collect about 15 percent of their total revenue of $40m per day in fees. But it’s important to decompose transaction fees and general revenue from creating blocks. Miners collect that coinbase reward regardless of whether they include transactions in blocks. On occasion, they mine empty blocks and collect that 6.25 per-block reward regardless.
The individual payments made when you swipe your card are several layers removed from the final flows of funds between banks.
The quantity of resources that miners are willing to spend on mining is purely a function of three variables: the price of bitcoin, the issuance rate and the fees transactors are paying to use the chain. Of those three, the first two matter most. As mentioned, fees are not a major source of revenue today. The system is naturally equilibrating: If the price of bitcoin goes up or fees dramatically rise, miner margins expand, inducing existing miners to increase their expenditure or new miners to enter the market. Thus margins contract to a level where mining is just barely profitable.
As defined in the protocol, the per-block reward is cut in half every four years. This reduces bitcoin’s issuance rate and thus the miner revenue. So, in the long term, miner revenue from issuance will dramatically contract. As 88% of all coins have been mined already, mining is structurally shrinking, not a growing industry. Academicprognosticationsof a climate-destroying feedback loop are therefore wildly off-base. While fees are expected to compensate miners in the long term, it’s unlikely that users would stomach $1000 fees. In a purely fee-based system with $10 fees and, optimistically, 800,000 transactions per day, miner revenue would total $2.9 billion per year – far less than the current $16.4 billion in annualized miner revenue.
Thus most of the miner expenditure – and hence carbon outlay – from Bitcoin is due to largely invariant coinissuancerather than any variable that’s correlated to transactional intensity. This fact invalidates the “energy cost of transactions” metric that critics like to promote. It is issuance that largely finances miners, not transactions. And because most coins have been issued already, Bitcoin’s future carbon outlay is likely to shrink. This is to say nothing of the energy mix that miners employ – and as we know, renewables and otherwise-vented natural gas make up a meaningful component of the industry. According to theCambridge Center for Alternative Finance, 39% of Bitcoin’s energy outlay derives from renewables, with 76% of miners using renewables in some capacity.
Therefore, comparisons to Visa and other payments systems should be met with extreme skepticism. Bitcoin is a full-stack monetary system with no outside dependencies; Visa is a small part of the U.S. dollar stack that relies, among other things, on 11 aircraft carriers patrolling the world’s oceans and enforcing dollar hegemony. Visa payments rely on a vast interconnected infrastructure of clearing and settlement. Bitcoin transactions are natively final and settle right away – they are more comparable to wire transfers. The energy exchange rate comparisons must take these differences into account.
• What Bloomberg Gets Wrong About Bitcoin’s Climate Footprint
• What Bloomberg Gets Wrong About Bitcoin’s Climate Footprint || Some Asian Traders Are Using Polkadot to Predict Bitcoin’s Future: As prices for bitcoin and other cryptocurrencies continue to surge this year, many traders are looking for any indicator for when – or if – the bull market will come to an end. Some are convinced they have the answer: They are examining polkadot (DOT), the native token of the Polkadot blockchain, as a potential canary in the coal mine for cryptocurrency.
As of press time, polkadot’s price was at $12.49, up 12.40% in the past 24 hours, according toMessari. It reached its all-time high of $13.22 during early trading hours in the U.S., just six days after bitcoin’s price reached a new all-time high.
The market capitalization of Polkadot has surpassedXRPandlitecoinand is now the fourth-biggest cryptocurrency by market cap, according to Messari’sasset tracker.
Related:First Mover: Biden's $1.9T Plan Shows 'Blue Wave' Bitcoiners Saw Coming
Those using polkadot to prognosticate bitcoin’s price point to parallels with another altcoin,EOS.
Sources who spoke to CoinDesk as well as social media users, especially on Chinese-language platforms, see parallels between the 2017 bull market prices ofbitcoinand EOS, the native cryptocurrency for the EOS.IO blockchain platform. They said Polkadot, a project started by Ethereum co-founder Gavin Wood and considered to be one of the so-called “Ethereum killers,” shares similar features and goals of the EOS.IO project, which was also born with the ambition of replacing Ethereum.
After bitcoin’s price reached its peak in 2017’s bull run, many investors and traders took their profits and moved them into tokens like EOS, a period of time now called “alt season.” Prices for EOS reached an all-time high at the end of April 2018, after which “crypto winter” was said to have started.
Claims that EOS and bitcoin prices were related in 2017 and 2018 are contentious.
Related:MahaDAO’s Algorithmic ‘Valuecoin’ Goes Live on Ethereum
“Correlation, not causation,” said Terry Wilkinson, chief executive officer at the Tokyo-headquartered investment firm Anchor Value. EOS “was the latest greatest pie-in-the-sky protocol at that time and as such garnered a lot of hype during that cycle. The bull run did not end because EOS stopped pumping. It was kind of the poster child for that run.”
Block.one createdEOS.IO in September 2017. The blockchain provides a platform for developers to create decentralized apps (dapps) with the promise of improved scalability compared with Ethereum. The project was also known for its initial coin offering (ICO), which ran from summer 2017 to June 2018, arguablythe longest-running ICOin history.
With a large amount of its tokens being turned over tohedge fundsto manage and make the majority of the investments in the building the EOS.IO ecosystem, traders and investors took EOS’s price as an indicator of capital inflows to crypto at the time. When EOS’s price stopped pumping, many took it as a sign to exit the market.
Read More: EOS Revisited: Investors Take Another Look at the Longest-Running ICO
EOS.IO “failed to catch up to Ethereum’s position and hype,” Jason Kim, chief investment officer at Anchor Value, added. “Speed alone did not persuade enough people to buy into EOS’ rosy projections.”
Similar to EOS.IO, Polkadot is touted as a promising blockchain that may replace Ethereum’s dominance. It particularly caught the attention of many savvy digital asset investors when decentralized finance (DeFi) exploded in the past summer.
Most DeFi projects are built on the Ethereum blockchain, the second-largest blockchain, which is thought of as a “world computer” due to its versatility and programmability. Yet, some projects have chosen Ethereum alternatives for better scalability and end-user experience, with Polkadot being one of the more popular ones.
As a result, just as many investors back in 2017 were making bets on EOS.IO for its promise to grab market share from Ethereum at the time, investors now have shown a “strong” appetite for Polkadot’s DOT, as CoinDeskreportedtwo months ago.
Read More: As DeFi Grows, Investors Look to Polkadot to Be the Next Ethereum
With that said, many have expressed their doubts about DOT’s possible correlation with bitcoin’s latest bull run. The main drivers of this round are significantly different from 2017, which were then stirred up by retail investors for the ICO boom.
These days, the market has mostly agreed thatlarge institutional investorsand the explosive DeFi sub sector took off in the past summer are the primary power behind the latest bull market.
Read More: DeFi Is Hot but Retail Interest Nowhere Close to ICO Frenzy
The logic behind the two bull runs are completely different, according to Simons Chen, executive director of investment and trading at Hong Kong-based crypto lender Babel Finance. Investors who bought bitcoin in this round have not been taking profits from many altcoins such as polkadot.
“[DOT] certainly fills the same slot as EOS did last bull run,” Wilkinson said. “There are parallels to draw since [Polkadot] probably has the highest expectations as the new chain on the block, but my opinion is that this bull run is different than the last mainly because of the involvement of institutional money that was largely vacant during the 2017 run.”
And unlike the ICO boom, many traders and analysts say, the fast-growing realm of DeFi – semi-autonomous exchanges and lenders – has shown much more potential with an ambitious goal to replace the traditional financial world one day.
Indeed, while the “summer of DeFi” cooled down, the sector still remains quite active. Multiple DeFi tokens have seen double-digit growth in the past few days. Brian Brooks, the outgoing acting head of the U.S. Office of the Comptroller of the Currency (OCC), wrote in aFinancial Times op-edabout a future of “self-driving” banks backed by the DeFi sector.
Thus the rapid price growth in DOT could just be a reflection of the DeFi’s continuing growth, as well as new upgrades and improvements on the project.
Denis Vinokourov, head of research at Bequant, saida recently released 2021 roadmapby SushiSwap, a decentralized exchange which includes an integration with Polkadot, could be the reason why DOT’s price has been up.
Prices for SushiSwap (SUSHI) also have surged since the announcement, up 14.63% in the past 24 hours to $5.5 at the time of writing, according toMessari.
• Some Asian Traders Are Using Polkadot to Predict Bitcoin’s Future
• Some Asian Traders Are Using Polkadot to Predict Bitcoin’s Future || Market Wrap: The ‘Elon Effect’ Blasts Bitcoin to $44.8K While Ether Moons: Bitcoin’s price is getting closer to Mars thanks to Elon Musk while ether moons to a new record. Investors are pulling BTC out of DeFi, likely to diversify their profits. Bitcoin (BTC) trading around $44,023 as of 21:00 UTC (4 p.m. ET). Climbing 14.5% over the previous 24 hours. Bitcoin’s 24-hour range: $38,051-$44,801 (CoinDesk 20) BTC well above the 10-hour and the 50-hour moving average on the hourly chart, a bullish signal for market technicians. Bitcoin’s price hit a record-high price Monday, soaring to $44,801 at around 13:00 UTC (8 a.m. ET). It’s one month to the day since hitting the previous record of $41,375, according to CoinDesk 20 data. One catalyst for the price run-up: Entrepreneur Elon Musk’s Tesla (TSLA) plowed $1.5 billion into the cryptocurrency. The company also said it would accept bitcoin for goods and services rendered. Related: State of Crypto: India and Nigeria's Crypto Crackdowns Continue Old Trends Read More: Tesla Invests $1.5B in Bitcoin, Plans to Accept Crypto Payments “All bets are off the table now. I was worried that [at] around $35,000-$40,000 we were not seeing a huge amount of institutional flows, and over the weekend the market moved higher in a fairly weak fashion,” noted Chris Thomas, head of digital assets for. Swissquote Bank. “But Tesla would have bought over the last few weeks, a little every day.” Since the start of 2021, bitcoin spot exchange volumes by eight major exchanges tracked by the CoinDesk 20 have been higher than its six-month average. This year so far, average trading on these exchanges has been $4.4 billion per day; going back to Aug. 8, 2020, the daily average has been $1.7 billion. As of press time Monday, volume is also higher than that 2021 average, at over $6.7 billion. Related: First Mover: Elon Musk's #bitcoin Bet Pays Off With $270M Gain on First Day “Bitcoin is at new highs today in ‘frenzied’ buying, clearing minor resistance from January,” said Katie Stockton, a technical analyst at Fairlead Strategies. Stockton also noted bitcoin has lost steam since its Musk-motivated rally, at $44,023 as of press time. “Signs of exhaustion are associated with today’s steep rally from an overbought/oversold perspective,” she said. Story continues However, the trend remains bullish, Stockton added. “Despite the potential for additional short-term volatility, the long-term uptrend appears healthy behind bitcoin from a momentum perspective.“ While some may be skittish about bitcoin’s rise in 30-day volatility over the past three months, other types of traders are certainly enthusiastic about it. “Tesla buying bitcoin was a mostly predictable move, given the vocal support it has seen from CEO Elon Musk,” said Guy Hirsch, U.S. managing director at eToro. Read More: Ex-OCC Chief Brooks Calls Tesla’s Bitcoin Buy a Bit ‘Scary’ for Rest of World “If more companies begin making similar announcements, $50,000 could potentially be within reach during the next few months,” Hirsch added. “We think we’re only just scratching the surface when it comes to corporate and institutional participation in the world of bitcoin and cryptocurrencies,” Joel Kruger, cryptocurrency strategist at LMAX Digital, told CoinDesk. “We suspect that moves from visionaries like Tesla will only serve to reinforce the tremendous value proposition that decentralized assets have to offer.” Ether at new high as BTC investors pull out of Ethereum protocol Meanwhile, ether (ETH) is also hitting records and the asset’s correlation with bitcoin has cropped back up to levels not seen since December. The second-largest cryptocurrency by market capitalization was up Monday trading around $1,720 and climbing 8.5% in 24 hours as of 21:00 UTC (4:00 p.m. ET). The price hit a fresh all-time high Monday, hitting $1,776, according to CoinDesk 20 data. Read More: Ethereum Futures Are Now Trading on CME The amount of bitcoin held in Ethereum-based decentralized finance, or DeFi, has dropped almost 3.5% Monday, going from over 50,000 to 48,344 BTC as of press time, according to data aggregator DeFi Pulse. Swissquote’s Thomas notes that Monday may be a day for larger players to start moving some bitcoin around because a fresh bitcoin price high might induce some investors to diversify their profits. “Larger hedge funds, etc., [that] had got into bitcoin between $15,000-$20,000 would naturally want to take profits around $45,000-$50,000″ for a profit of 2.5-3x. “I’ve always viewed that as a hard challenge,” Thomas told CoinDesk. Other markets Digital assets on the CoinDesk 20 are all in the green Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET): algorand (ALGO) + 19.9% cardano (ADA) + 13.4% kyber network (KNC) + 12.1% Equities: The Nikkei 225 index in Asia ended the day in the green 2.1% as Japanese corporate earnings were better than expected for most companies reporting so far. Europe’s FTSE 100 closed climbing 0.53% as investors signaled optimism on further U.S. fiscal stimulus despite a poor economic outlook for the European continent . The United States’ S&P 500 index gained 0.74% as traders pushed the buy button on stocks amid optimism more government stimulus would lift the economy . Commodities: Oil was up 1.9%. Price per barrel of West Texas Intermediate crude: $58.03. Gold was in the green 0.95% and at $1,830 as of press time. Silver is gaining, up 1.9% and changing hands at $27.32. Treasurys: The 10-year U.S. Treasury bond yield climbed Monday to 1.169 and in the green 0.15%. Related Stories Market Wrap: The ‘Elon Effect’ Blasts Bitcoin to $44.8K While Ether Moons Market Wrap: The ‘Elon Effect’ Blasts Bitcoin to $44.8K While Ether Moons || First Mover: Reminiscing on Pre-Pandemic Bitcoin as Rally Stalls: Bitcoin (BTC) was rising for a fourth straight day, though in a repeat of last week’s action the cryptocurrency struggled to push above $20,000 after its months-long rally from a low around $5,000 in March. “The level of $20,000, which is commonly equated with bitcoin’s all-time high, represents a massive psychological barrier and could likely require a lot of force to break through,” Mati Greenspan, founder of the foreign-exchange and cryptocurrency research firm Quantum Economics, wrote in his newsletter. In traditional markets , Asian stocks fell the most in two weeks but European equities were steady. U.S. stocks pointed to a higher open after a four-day slump. According to Bloomberg News, investors were pricing in optimism about a vaccine rollout while harboring doubts on the latest efforts by U.S. lawmakers to negotiate a new stimulus bill. The so-called third wave of the coronavirus is leading to new lockdown measures. Gold strengthened 1% to $1,846 an ounce. Market moves Related: Becoming Self Sovereign: How to Set Up a Bitcoin Node, With Lightning ( Editor’s note: This is the second installment of First Mover’s recap of how the bitcoin market evolved over the course of 2020 and what it means for the future. Today we cover January and February, just before the fast-spreading coronavirus began to take its toll on the global economy, sending markets into a tailspin and leading to an unprecedented financial response from governments and central banks around the world.) Trillions of dollars of money-printing this year by the Federal Reserve and other central banks have galvanized bitcoin’s use as a hedge against currency debasement by investors from both cryptocurrency markets and traditional finance. But even before the pandemic-related economic stimulus hit global markets, economists were already openly speculating whether the U.S. dollar could survive another decade as the world’s dominant currency for international payments and foreign reserves. Story continues Historically, after all, a catalyst always led to one currency supplanting another as the world’s most important medium of transaction, unit of accounting and store of value. The U.S. dollar had emerged as the world’s leading currency during the early 20th century when it took over from debt-strapped Britain’s pound; a century before that, Holland’s guilder was undone by the French Emperor Napoleon’s invasion. Related: Will Wall Street Ruin Bitcoin? Featuring Ben Hunt and Alex Gladstein In early 2020, China’s proposed digital currency was seen as a potential threat to the greenback, and former Bank of England Governor Mark Carney had gone so far as to propose a “ synthetic hegemonic currency ,” potentially provided “through a network of central bank digital currencies.” “There’s a lot of discussion of substitutes for the dollar as the global reserve currency,” Bill Adams, senior international economist for the U.S. bank PNC, told CoinDesk around the start of the year. But based on officials tallies of the dollar’s share of global foreign reserves, the U.S. currency looked as strong as ever. It didn’t take long for the bitcoin market to get a jolt – after a U.S. drone strike killed a top Iranian commander during the first week of January , fueling speculation that heightened geopolitical turmoil might spur demand for the cryptocurrency. Bitcoin jumped to $7,300, as analysts said it might serve as a safe-haven asset similar to gold, whose value is expected to hold in times of geopolitical or economic instability. The flap soon faded from the news and crypto traders turned to what they thought would be the bitcoin market’s marquee event of the year – the once-every-four-years “halving” that would take place in May, where the pace of new supply of cryptocurrency issued from the Bitcoin network gets cut by 50%. It’s stipulated in the 11-year-old blockchain’s underlying programming. From December through February, Google searches on the term “bitcoin halving” doubled in a month to the highest levels since 2016, and some enthusiasts even created a dedicated website, bitcoinblockhalf.com , to count down the remaining days, hours, minutes and seconds until it happens. Cryptocurrency lenders reported a quickening pace of customer activity , in some cases more than 10 times the loan growth reported by big banks like JPMorgan Chase. The traditional financial companies were tethered to the broad economy, where U.S. growth had slowed to a 2.3% expansion in 2019 from the 2.9% clip in 2018. (A newly launched futures contract focused on the U.S. presidential election , launched by the cryptocurrency exchange FTX in early February, suggested Donald Trump had a 62% chance of winning.) Crypto traders bandied about analyst predictions the halving could send prices skyrocketing to $90,000 or higher. They had no idea, of course, how dramatically the events of the ensuing months would reshape the global economic outlook. By late February, traders saw clearly just how far bitcoin was from being a safe haven – as prices tumbled alongside U.S. stocks as authorities globally struggled to stem the spread of the coronavirus beyond China. U.S. Treasury bonds, seen as a traditional safe-haven asset, rallied, as did gold. Bitcoin is “not the same as owning Treasury, and not the same as owning gold,” the cryptocurrency analyst Greg Cipolaro told CoinDesk on Feb. 24. Jeff Dorman, chief investment officer of the crypto-focused firm Arca Funds in Los Angeles, raised the prospect of a separate potential catalyst for higher bitcoin prices: Monetary-policy easing by the Federal Reserve to stimulate coronavirus-infected markets. “I don’t expect bitcoin to trade as risk-on or risk-off asset,” he said. “But over a longer period of time, anything that’s inflationary, or said another way devalues other currencies, strengthens the purchasing power of bitcoin.” That view would take hold in the bitcoin market over the rest of the year, attracting the notice of mutual-fund companies like Fidelity Investments and BlackRock, hedge funds including Tudor Investment and more recently the 169-year-old insurance company MassMutual . Prices have nearly tripled in 2020 to near $20,000. Iran rarely came up again in bitcoiners’ conversations about the market, and these days, there’s barely any market talk about the halving. Now, it’s all about the money printing. Questions remain about the future of the dollar. Coming Wednesday: The coronavirus hits, and bitcoin prices tank – until the Federal Reserve arrives and embarks on the biggest money-printing episode of its 107-year history. – Bradley Keoun Bitcoin watch Bitcoin again failed to hold gains above $19,500 early Tuesday, possibly due to profit-taking by large Asia-based investors, according to one analyst. In the two hours between 4 a.m. and 6 a.m. coordinated universal time (UTC), the cryptocurrency fell from about $19,500 to about $19,050. An increased inflow of coins onto the crypto exchange Huobi Global, which has a Hong Kong presence, was observed before prices began falling. “A total of 2,013 coins were transferred to Huobi in blocks 661,425 to 661,430 just 15 minutes before the price dip,” said Ki Young Ju, CEO of CryptoQuant, adding that block number 661,425 carried 1,017 coins, the highest single-block inflow on Huobi since Nov. 30. Monday saw 8,836 BTC arrive on Huobi in total, with a mean transaction of 4.5 BTC, the highest since March 2018, according to CryptoQuant. The uptick in the average size of exchange deposits indicates that larger investors were transferring their coins to Huobi and may have liquidated their holdings around $19,500, a level that has acted as stiff resistance of late. At press time, bitcoin has rebounded to near $19,300, and the path of least resistance for the cryptocurrency remains to the upside, according to analysts . However, forcing a breakout above $20,000 in the short term may prove to be an uphill task for the bulls, since there are sizable sell orders open in the approach to a new record high spot price. “There are still offers above $19,500 up to $20,000,” Patrick Heusser, head of trading at the Zurich-based Crypto Broker AG, told CoinDesk. “The US-based cryptocurrency exchange Coinbase shows 700 bitcoin for sale right at $20,000, but all other exchanges show some offers up there as well in the region of 200-300 coins.” – Omkar Godbole Read More: Bitcoin May Have Hit Wall of Profit Takers Around $19,500 What’s hot Mt. Gox creditors’ wait nearly over as trustee announces draft rehabilitation plan ( Cointelegraph ) Charles Calomiris, chief economist for the U.S. Office of the Comptroller of the Currency, cites benefits of issuing bank charters to stablecoin providers ( CoinDesk ) Wall Street firm Evercore says PayPal’s crypto offering could bring big business boost ( CoinDesk ) Supermarket kiosk company Coinstar adds Coinme bitcoin ATM functionality to 5K change-sorting machines across U.S. ( CoinDesk ) Hybrid blockchain maker Kadena onboards Celo’s dollar stablecoin, plots January launch for decentralized exchange ( CoinDesk ) Ethereum founder Vitalik Buterin takes to Twitter to warn followers not to take out personal loans to buy cryptocurrencies ( CoinDesk) Pornhub now accepting crypto only after being cut off by Mastercard and Visa ( CoinDesk ) Analogs The latest on the economy and traditional finance Google outage shows perils of centralization ( CoinDesk ) Reckoning looms for commercial real estate ( WSJ op-ed ) U.S. electoral college votes to formalize Joe Biden’s victory in November U.S. presidential election ( WSJ ) New home price increases slow in China as government pushes to deleverage heavily indebted residential real estate sector to curb financial risk ( Nikkei Asia Review ) Australian prime minister says Chinese ban on coal imports likely breaches World Trade Organization rules ( Bloomberg ) Chinese factory outputs up 7% from a year earlier, signaling recovery as consumer demand increases ( Reuters ) Tweet of the day Related Stories First Mover: Reminiscing on Pre-Pandemic Bitcoin as Rally Stalls First Mover: Reminiscing on Pre-Pandemic Bitcoin as Rally Stalls || As the SEC Controversy Continues, Stay Away From Ripple: Enthusiasm for cryptocurrencies may on the rise again. But, it’s far from enough to save Ripple (CCC: XRP ). Coin cryptocurrency ripple on the background of a stack of coins Source: Shutterstock Cratering late last month on news the cryptocurrency and its developer, Ripple Labs , were in the crosshairs of regulators , it’s yet to have recovered. Even as bitcoin (CCC: BTC ) and Ethereum (CCC: ETH ) surge to new highs. However, don’t view this as an opportunity to buy this altcoin on the cheap. The rising tide of bitcoin prices will do little to raise its boat. But, that’s not all. Once Ripple is knocked off Coinbase , expect prices to continue heading lower. InvestorPlace - Stock Market News, Stock Advice & Trading Tips So, what’s the verdict, as the altcoin trades for around 23 cents? Stay away. But, while I prefer the other cryptos, it’s wise to remain cautious as this asset class remains hot. Even as institutional investors warm up to bitcoin as a hedge against a declining dollar. 10 of 2020's Most Fascinating SPAC Stocks That’s not to say you should completely avoid this asset class. I personally hold a small position in bitcoin, and intend to remain a “ HODLer .” But, given cryptocurrencies could crash again as they did in 2018 , caution remains the best approach. The Rising Tide of Bitcoin Can’t Save Ripple Simply put, don’t view the discrepancy between the epic rise of bitcoin, Ethereum, and Litecoin (CCC: LTC ), and the continued weak performance of XRP (Ripple) as a mistake. Cryptocurrencies may be more a wild west market than equities. But, Mr. Crypto Market knows what it’s doing. And, it’s pricing this underperforming crypto appropriately. Why? Mainly, because of the Securities and Exchange Commission (SEC) investigation . In short, the SEC alleges the ongoing sale of XRP constitutes an unregistered securities offering. Why is Ripple considered an “unregistered security,” while bitcoin and the other altcoins are not? InvestorPlace’s Josh Enomoto broke it down on Jan 5. Putting it simply, while other major cryptos are created via mining (open sourced), that isn’t the case with this crypto. Story continues Instead, the developer controls the supply. Not fully decentralized, this factor leaves XRP vulnerable to securities law scrutiny. Given the investigation has just started, it’s still too early to tell whether the SEC effectively “cancels” the altcoin, or simply penalizes its developer. But, no matter the SEC’s final action, don’t buy hard-hit Ripple in the hopes it pulls off an epic rebound. Coinbase is removing it from their platform. As other exchanges follow suit, XRP’s days as a major altcoin are numbered. The Upcoming Coinbase Suspension and XRP Stock Besides the SEC investigation, the upcoming Coinbase suspension is another bearish factor for Ripple. Enomoto touched on this in his recent write-up as well, referencing a Bloomberg article detailing the exchange’s recent announcement that it’s suspending the sale of XRP on its platform due to related litigation. Already limiting trading late last month, Coinbase plans to completely suspend XRP from its platform on Jan 19 . How bad is this for future price action? If trading in it suspends on other platforms, expect prices to continue tumbling. While its been large investors fueling the recent crypto bubble, retail investors still make a difference. And, if retail investors can’t readily buy it, demand will continue to plummet. In short, there’s little reason to dabble in Ripple at today’s prices. The regulatory scrutiny still needs to play out. Yet, Coinbase’s recent actions have already effectively “canceled” XRP. With this in mind, those looking for exposure to crypto should stick to the bitcoin, Ethereum, and Litecoin. And, stay far away from this fading altcoin. That being said, investors overall should be careful if they have yet to enter the crpyto market. While there’s a clear long-term bull case for bitcoin, this asset class is clearly in the midst of a bubble. Sure, “this time it’s different,” with institutional rather than retail investors driving it. But, that doesn’t guarantee this volatile asset class doesn’t crash a second time. Bottom Line: Tread Carefully With Cryptos and Avoid XRP While the verdict with the SEC investigation remains far away, the verdict on Ripple the cryptocurrency is clear: avoid. Yet, as I mentioned above, that doesn’t mean you should chase the upward momentum in bitcoin, Ethereum, and Litecoin. There may some rationale to JP Morgan’s very bullish $146,000 price target for bitcoin. Institutional investors continue to warm up to bitcoin. As CNBC reported Dec 18, it’s been large bitcoin buyers, not retail investors , that have been behind the recent rally. Yet, the smart money moving in doesn’t mean this asset class is immune from another 2018-style crypto crash. Be careful. I plan to continue holding my position in bitcoin. But, given the high volatility in cryptos, it’s best to remain cautious, and not bet the ranch. Bottom line: If you have crypto exposure, maintain your current positions. If you want exposure, cautiously buy high-quality names like bitcoin, but above all stay away from Ripple. On the date of publication, Thomas Niel held a long position in bitcoin. Thomas Niel, a contributor to InvestorPlace, has written single stock analysis since 2016. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post As the SEC Controversy Continues, Stay Away From Ripple appeared first on InvestorPlace . || Bitcoin Drops Nearly 7% After Setting New Record High of $23,770: Bitcoin surged to new record highs above $23,000 earlier on Thursday, before quickly falling back by over $1,500.
The cryptocurrency dropped from the all-time high of $23,770 to $22,185 in the roughly 30 minutes to 09:45 UTC – a 6.67% drop, according to the CoinDesk 20. Prices rose by more than $2,000 to reach new record highs above $23,700 in the first nine hours of the day (UTC).
At the press time price of $22,560,bitcoinis still up 14.37% on a 24-hour basis.
Related:First Mover: Geek-Fest Turns Relevant as Bitcoin Passes $21K, $22K, $23K
The rally is still looking solid, despite the recent losses. The derivatives market is showing no signs of overheating and on-chain data shows strong holding sentiment.
While the average level of the bitcoin perpetual futures’ “funding rate” across major exchanges has risen from 0.005% to 0.036%, it remains well below the high of 0.093% seen before the Nov. 24 price drop. In other words, leverage isn’t skewed too bullish and the cryptocurrency has scope to rally further.
Calculated every eight hours, thefunding ratereflects the cost of holding long positions. It is positive (or longs pay shorts) when perpetuals trade at a premium to the spot price. As such, a very high funding rate is widely considered a sign of leverage being excessively skewed to the bullish side, or overbought conditions.
Further, there are no signs of large investors looking to book profits, with prices easily rallying to record highs above $23,000. At press time, there are roughly 2,400,000 coins held on exchanges. That’s the lowest since August 2018, according to data source Glassnode, and suggests investors aren’t preparing for a sell-off.
Related:Above $100: Litecoin Hits Highest Price Since Summer 2019
Investors generally move coins from their wallets to exchanges when they plan to liquidate their holdings and take profit.
In a sign of strong holding sentiment, exchange balances have declined by over 15% this year, taking the sell-side liquidity off the market.
Traders, however, should keep an eye on spot market volumes, as liquidity may dry over the Christmas holidays. That could produce wild swings on either side.
Patrick Heusser, head of trading at Zurich-based crypto Broker AG, told CoinDesk that the move above $20,000 needs to be backed by continued growth in trading volumes.
Also read:New to Bitcoin? Stay Safe and Avoid These Common Scams
“In terms of spot volume, we have not yet hit the amount we saw in November (but, we do have another 13 days to go). With holidays around, it doesn’t look like December volume would top November’s tally,” Heusser said, adding that would be the first warning of bull fatigue.
• Bitcoin Drops Nearly 7% After Setting New Record High of $23,770
• Bitcoin Drops Nearly 7% After Setting New Record High of $23,770
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 46481.11, 44918.18, 47909.33, 47504.85, 47105.52, 48717.29, 47945.06, 49199.87, 52149.01, 51679.80
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-01-24]
BTC Price: 3600.87, BTC RSI: 43.44
Gold Price: 1279.10, Gold RSI: 54.27
Oil Price: 53.13, Oil RSI: 57.45
[Random Sample of News (last 60 days)]
Bitcoin And Ethereum Daily Price Forecast – Crypto Market Range Bound As Investors Turn Cautious Ahead of Constantinople Hard Fork: Following yesterday’s two way price action, Bitcoin and Ethereum are trading range bound with bearish bias today as new hit market thatJapan’s Financial Regulator denied interest in Bitcoin ETF. Earlier this week, Bloomberg published an article stating that Japan FSA is considering green lighting Bitcoin ETF’s, however news hit market today that Japan’s FSA has denied making any such decision. According to article from cryptocurrency news website – cointelegraph, their representative in Japan got in touch with Financial Services Agency which then denied making any decisions relating to approval of ETF and had no idea on who was the source behind Bloomberg’s article.
Traders are approaching crypto currency market with caution now that holiday recovery rally which gave Bitcoin and other Altcoins solid bullish boost has expired. Investors focus remains on Ethereum network upgrade widely known as Constantinople hard fork and its impact on the coin’s price action in market which has resulted in range bound price action in crypto markets. Bitcoin is now trading dangerously close to $4000 price mark with range bound price action having failed in its attempts to gain solid foot hold above $4100 price level. However given market’s positive reaction to crypto market despite lack of solid fundamentals, traders believe Bitcoin is forming next level of support at $4000 mark now that it has gained solid grip on $3500 mark.
As of writing this article, BTC/USD pair is trading flat at $4040.6 down by 0.40% on the day. Meanwhile Ethereum is expected to continue trading sluggish as both retail traders and institutional investors are averse to placing any major bets ahead of hard fork. However crypto enthusiasts and day traders looking for quick product continue to bet on Ethereum as the coin seems to have found stable foothold above $150 mark despite lack of volatility and decent trading volume in market. ETHUSD pair is currently trading at $152.07 down by 0.56% on the day.
Thisarticlewas originally posted on FX Empire
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• GBP/USD V Trend Line Pattern Might Spike the Price Up || CBOE Chairman: Wall Street Wary of Crypto Investments Due to Lack of a Bitcoin ETN: ByCCN.com: Chicago Board of Exchanges (CBOE) CEOEd Tillybelieves the cryptocurrency market needs a bitcoin-based Exchange-Traded Note to “truly grow.” His comments come on the back of postponed ETF launches for bitcoin, which could be pushed back indefinitely due to anongoing U.S. government shutdown.
Hundreds of theories tend to explain the lack of a bolstering bitcoin trading market. However, most base themselves on the absence of both institutional investors and traditional market-like frameworks in the cryptocurrency space.
Tilly strongly agrees with the above. He sees the lack of a traditional market-tracking index and a reliant futures contract - that most Wall Street investors use to hedge their bets - as a limiting factor in the crypto market.
But the lack of quick regulatory decisions made by the government means investors repeatedly face an old story---bitcoin-related financial products getting pushed back due to several reasons, with the most recent one being a government shutdown in the U.S.
Read the full story onCCN.com
. || Dash Cryptocurrency: Single Wallet Owner Possesses 51% of Hashrate: The NicheHash crypto mining marketplace contains the majority of the hashpower on the Dash network. A concerned Reddit userraised the alarm today.
Dash has a total of almost 1,900 Terrhashes per second at time of writing. Meanwhile, NiceHash is responsible for more than 1,000 TH/s across over 25,000 miners.
Analysis by the concerned Reddit user found thatthree of the top addressesover the last few thousand Dash blocks are controlled by the same entity. They write:
This particular transaction has three of the four top addresses as inputs meaning one entity controls all three. These three alone gather 53% and more. You can also see this started 6 months ago/around September last year, and I think the fourth unknown pool also belongs to this entity yet it is seperated on the blockchain. It started to gather a lot of hash at the same time.
The addresses in question are:
• XbUutDsgJbf7Sjjq4omhusNtkT8ih1d7oQ
• XkNPrBSJtrHZUvUqb3JF4g5rMB3uzaJfEL
• XeMPcKeVDN9bkECGDC7ggtf9QsX5thgKAx
Combined, these addresses have mined 26,665 Dash to date, at time of writing. That is a total of 573 BTC or $2.2 million at current prices. Yet, the financial aspect is the least of anyone’s worries.
51% attacks create significant security liabilities in decentralized blockchain networks. Charlie Lee recently said that networksmust be vulnerableto 51% attacks for decentralization. Miner centralization threatens networks as well, however.
The Reddit user Flenst concludes his post:
So it is possible someone could try to perform a 51% before DASH implements their chainlocks. The actor could start right away. Anyone offering a service with DASH must keep an eye on the chain as long as this doesn’t change and be very careful.
He is referring to a recent announcement by the Dash development team that they are working on something called “Chainlocks.” In November, Dash said they are introducing the new feature in order to combat 51% attacks. Such attacks are in the news again withrecent issuessurroundingEthereum Classic.Chainlocksalso deals with block reorganizations and modifies the “longest-chain” rules that Dash inherits from Bitcoin. FromDash Improvement Proposal 8:
When a node encounters multiple valid chains, it sets the local “active” chain by selecting the one that has the most accumulated work. This is generally known as the “longest-chain” rule as in most cases it is equivalent to choosing the chain with the most blocks.
What’s clear is that someone has invested a massive amount of money into mining Dash with ASICs. Dash’s X11 algorithm once thwarted ASIC development. ASIC developers found that by adding memory to the miners, they were able to handle the X11 algorithm. When this happened with Monero, developers decided tofork awayto a modified algorithm.
Featured Image from Shutterstock
The postDash Cryptocurrency: Single Wallet Owner Possesses 51% of Hashrateappeared first onCCN. || Hackers Demand Bitcoin After Taking Down Dublins Tram System Website: bitmain bitcoin hack The website of Dublin s light rail system, Luas, has gone down after it was hacked, the Irish Examiner has reported . Consequently, visitors to the website, which has been offline for more than three hours now, are being greeted with a message that the hacker(s) posted citing their demands. The unidentified hackers are demanding to be paid one bitcoin in five days or they will release privileged data that they have obtained. In the message (which has been slightly edited for clarity) the hackers alluded to their frustrations at their previous attempts to extort Dublins light rail system: You are hacked. Some time ago I wrote that you have serious security holes you didnt reply. The next time someone talks to you, press the reply button. You must pay 1 bitcoin in 5 days otherwise I will publish all data and send emails to your users. At the bottom of the message is a bitcoin address to which the hackers want the ransom payment sent to. Static Website It is unclear what kind of information the hackers have obtained since the Luas website is mostly informational with limited interactive features. According to reports, the Luas payment website that is used by passengers to pay for fare violations has not been affected. On Luas Twitter account, users were advised not to visit the compromised website and to instead call for enquiries: Due to an ongoing issue, please do not click onto the Luas website. We currently have technicians working on the issue. We will be using this forum only for travel updates should the need arise. For any queries, please contact our customer care number on 1850 300 604. Luas (@Luas) January 3, 2019 The website of Dublins tram system is being held to ransom just days after TheDarkOverload hacking group claimed to be in possession of stolen information touching on the September 11, 2001, terrorist attack in New York. The hacking group is threatening to release the information with a view of offering many answers about 9.11 conspiracies, as CCN reported : Story continues Hacker Group: Pay Bitcoin Ransom or Well Release 9/11 Papers https://t.co/zHBzC1qYUn CCN.com (@CryptoCoinsNews) January 2, 2019 Per TheDarkOverload, the information was obtained from insurance firms including Lloyds of London and Hiscox Syndicates these were some of the insurers of the World Trade Center structure which was one of the targets of the terrorists during the 9/11 attack. List of Targets The group, which is threatening to publish all the privileged information unless paid a ransom in bitcoin, is mostly targeting law firms, property managers, insurers and law enforcement agencies among others: If youre one of the dozens of solicitor firms who was involved in the litigation, a politician who was involved in the case, a law enforcement agency who was involved in the investigations, a property management firm, an investment bank, a client of a client, a reference of a reference, a global insurer, or whoever else, youre welcome to contact our e-mail below and make a request to formally have your documents and materials withdrawn from any eventual public release of the materials. Featured image from Shutterstock. The post Hackers Demand Bitcoin After Taking Down Dublins Tram System Website appeared first on CCN . || Bitcoin Deflated Like a ‘Soap Bubble’: Russian Economy Minister: Russian Economic Development Minister Maksim Oreshkin has stated that while bitcoin has deflated like a “soap bubble,” it has impacted the world positively by boosting investment in new technologies. Speaking to themediaon Wednesday at Russia Calling, an investment forum organised by VTB Capital, Oreshkin said that despite the woes of the crypto market, the conversation around it has successfully driven significant international interest in a vast number of projects in new fields, principally blockchain technology.
Giving his comments at the event, he said:
“You may recall what I said, for example, last year, when Bitcoin’s price jumped up to $20,000, and now it is lower than $4,000, we said very simple things. Bitcoin itself is a soap bubble, it deflated, that’s what happened. […] Unfortunately, many people were affected [because of their investments in cryptocurrency], but again, in terms of new technologies, new businesses, it gave a positive impetus.”
His line is in keeping with the general Russian state reaction to the growth of cryptocurrency. Until now, the legal status of crypto trading, ICOs, and mining has not been firmly established in the country, with Russian authorities doing little more than issuingvaguedisclaimers and investment advisories from time to time.
While a number of prominent voices have advocatedblockchainadoption for reasons as varied as using a gold-linked cryptocurrency to protect its arms export industry to adopting DLT to eliminate customer abuse in the pension fund industry, this still remains far from happening. Thus far, the Russian state’s interest in bitcoin has been largelyrestrictedto facilitating foreign missions in need of hard-to-trace cash.
In March, three draft bills aimed at correcting the regulatory gap were submitted of reading in Russia’s parliament, although the proposed laws included a clause that stipulated that Russia does not recognise digital financial assets as legal tender in the country. Despite this, it has beenreportedin the past that the country is examining the possibility of skirting US-imposed sanctions using cryptocurrency as a primary solution.
Speaking in June, President Vladimir Putinstatedthat while the state continues to look at the crypto “phenomenon” with great interest, it cannot at the moment issue or sanction the issue of such tokens since, by definition, they fall outside the regulatory scope of relevant government agencies. That notwithstanding, during this year’s FIFA World Cup which held in Russia, it was announced that hotels and selected hospitality spots wouldacceptcryptocurrency as millions of fans from around the world arrived in Russia.
Featured image from Shutterstock
The postBitcoin Deflated Like a ‘Soap Bubble’: Russian Economy Ministerappeared first onCCN. || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 19/12/18: Bitcoin Cash ABC rallied by 16.41% on Tuesday, following on from an 11.98% gain on Monday, to end the day at $103.65.
A late morning intraday low $84.18 was the only bearish move of the day, Bitcoin Cash ABC steering well clear of the first major support level at $80.59, before finding support from the broader cryptomarket.
Through the 2ndhalf of the day, Bitcoin Cash ABC hit a late in the day intraday high $105, breaking through the first major resistance level at $93.7 and second major resistance level at $98.9 to hold onto $100 levels by the day’s end.
At the time of writing, Bitcoin Cash ABC was up 10.92% to $114.97, early moves seeing Bitcoin Cash ABC breaking through the first major resistance level at $111.04, with a rise from a morning low $101.99 to a morning high $117 before easing back.
For the day ahead, holding above the first major resistance level through the morning would support another run at the second major resistance level at $118.43, with support from the broader market needed for Bitcoin Cash ABC to break out from $118 levels to bring $120 levels into play later in the day.
Failure to hold above the first major resistance level could see Bitcoin Cash ABC hit reverse later in the day, a pullback through the morning low $101.99 bringing sub-$100 levels into play, with the first major support level at $90.22 in play in the event of a broad based crypto sell-off.
Litecoin gained 4.29% on Tuesday, following on from Monday’s 14.51% rally, to end the day at $30.12.
A relatively choppy day saw Litecoin fall to a late morning intraday low $27.71 before recovering to $28 levels through the afternoon, Litecoin holding well above the first major support level at $25.86.
It all boiled down to a late in the day broad based crypto rally, with Litecoin striking an intraday high $30.20, falling short of the first major resistance level at $31.19, while holding onto $30 levels.
At the time of writing, Litecoin was up 1.79% to $30.66, with moves through the early hours seeing Litecoin rise from a start of a day morning low $29.6 to a morning high $31.38, Litecoin breaking through the first major resistance level at $30.98, before easing back.
For the day ahead, a hold onto $30 levels through the morning would support another move through the first major resistance level to $31 levels to bring the second major resistance level at $31.83 and $32 levels into play, though Litecoin will need support from the broader market for a breakout from $31.8 levels later in the day.
Failure to hold onto $30 levels could see Litecoin ease back through the morning low $29.6, with a fall through $29.3 bringing $28 levels and the first major support level at $28.49 into play before any recovery, sub-$28 support levels unlikely to be in play on the day.
Ripple’s XRP gained 7.02% on Tuesday, following on from Monday’s 15.42% rally, to end the day at $0.0.36182.
Tracking the broader market, Ripple’s XRP struck a morning high $0.35398 before easing back to a late morning intraday low $0.33151, leaving the major support and resistance levels left untested through the morning.
A relatively range bound 2ndhalf of a day also saw Ripple’s XRP steer clear of the major support and resistance levels ahead of a broad based cryptomarket rally, Ripple’s XRP rising to an intraday high $0.36183 at the day’s end, breaking through the first major resistance level at $0.3612 on the way.
At the time of writing, Ripple’s XRP was up 5.3% to $0.3810, with Tuesday’s late rally continuing into the early hours, Ripple’s XRP breaking through the first major resistance level at $0.3719 and second major resistance level at $0.3820 to strike a morning high $0.3833 before easing back.
For the day ahead, a hold onto $0.38 levels through the morning would signal more to come later in the day, with a broad based crypto rally supporting a run at $0.40 levels to bring the third major resistance level at $0.4124 into play before any pullback.
Failure to hold onto $0.38 levels through the morning could see Ripple’s XRP cough up some of the morning gains, while we would expect Ripple’s XRP to avoid a pullback to sub-$36 levels, barring a broad based sell-off, Ripple’s XRP tracking the broader market through the first half of the week, with the bears very much in the driving seat.
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Thisarticlewas originally posted on FX Empire
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• Crude Oil Price Forecast – crude oil markets continue to fall || Thailand’s Finance Ministry Grants Licenses to Three Crypto Exchanges: The Ministry of Finance in Thailand has granted working licenses to three crypto trading companies and denied permits for two businesses seeking to become regulated exchanges. The ministry has also issued a working permit to a cryptocurrency broker and dealer.
“The four applicants granted a license are three digital asset exchanges – namely (1) Bitcoin Exchange Co., Ltd. (BX) (website: bx.in.th), (2) Bitkub Online Co., Ltd. (BITKUB) (website: bitkub.com), and (3) Satang Corporation (Satang Pro) (website: satang.pro) – and one cryptocurrency broker and dealer Coins TH Co., Ltd. (website: Coins.co.th),” Thailand’s Securities and Exchange Commissionstated in a press statement.
Cash2Coins Co Ltd (website: cash2coins.com) and Southeast Asia Digital Exchange Co Ltd (website: seadex.io) failed to meet the SEC’s ideal standards concerning asset maintenance system and digital know-your-customer protocol. The regulator, by orders of the Ministry, denied their licensing requests for running a crypto exchange, asserting that their IT security and cybersecurity were not adequate.
The ministry has asked both the crypto exchanges to stop their business operations in Thailand. It has also given owners a deadline of January 14 to notify their users to withdraw or transfer their crypto assets from Cash2Coins and Seadex hot wallets. The companies will be liable to report their balance sheet to the SEC after returning those digital assets.
The SEC also confirmed that Cash2Coins and Southeast Asia could reapply for the business license after taking care of the concerns raised in response to the first application.
The SEC confirmed that it is reviewing a request by Coin Asset Co (website: coinasset.co.th) to come to be a licensed cryptocurrency exchange in Thailand. The regulator has decided to put the application on hold after noticing irregularities in Coin Asset’s management.
“There has been a change of company executives, which is material information for the consideration of the application,” the SEC explained. “While the Ministry of Finance is considering the material change, the company may continue business operation by virtue of the Transitional Provisions of the Emergency Degree on Digital Asset Businesses.”
The decision has made Thailand one of the most attractive markets in Asia for crypto businesses. The country in 2018 approved crypto and ICO regulations. And in June, it legalized seven cryptocurrencies, including Bitcoin and Ethereum. More likely, the South Asian economy could witness a growing influx ofcrypto emigrants from nearby countries Indiaand China, whereby stiff regulations cap the growth of blockchain startups.
The Thai government is also exploring the blockchain technology for creating tools that could track tax evasions, manage national identities, and support the development and functioning of theirproposed digital Baht.
Images from Shutterstock.
The postThailand’s Finance Ministry Grants Licenses to Three Crypto Exchangesappeared first onCCN. || Cameron Winklevoss: “We Know We Aren’t Going to Please Everyone”: Cameron and Tyler Winklevoss did an Ask Me Anything session on Reddit following a full-page advertisement in the New York Times.
The twins answered some of the questions asked, includingthis one, which CCN alsorecently reported on.
Some voices in crypto took umbrage with your recent advertising campaign in NY. The slogan read “Gemini: The REGULATED Cryptocurrency Exchange”. Could you explain the reasoning behind it? Does Gemini stand alone in this respect?
Cameron Winklevoss said:
We know we aren’t going to please everyone but the healthiest and most vibrant economies have thoughtful rules to promote positive outcomes. You can’t point to a lawless economy that is thriving.
A user asked “Do you think Bitcoin will allways be Crypto #1?”
To this, Cameron Winklevoss said:
Bitcoin is certainly the OG crypto! It’s hard to defeat network effects — so in terms of ‘hard money’ (i.e., store of value) Bitcoin is most likely the winner in the long term.
This led to unanswered questions about CW’s “definition” of Bitcoin from a Bitcoin Cash proponent, who argued that Bitcoin Cash is now Bitcoin in his view.
Another userasked aboutthe contentious issue of whether or not Bitcoin is a “store of value.”
Isn’t calling Bitcoin a “Store of Value” creating a lot of problems for resolving the bitcoin scalbility issues and thus using it as transfer of value?
To this, Tyler Winklevoss responded that decentralization is, in his view, the “heart of the matter” as regards the Bitcoin scalability debate. This debate led to the hard fork and subsequent creation of Bitcoin Cash.
I believe bitcoin is a store of value (given its current properties) and I agree that being a really good store of value is in conflict with being a good medium of exchange. It’s hard for money to be good at both at the same time. However, I think decentralization (e.g., block size and remaining censorship-resistant) is the heart of the matter w/r/t the scalability debate, not whether or not bitcoin is a store of value.
Cameron Winklevoss answered a question about the “short-term” plans around making a Bitcoin ETF a reality. He gavesome examplesof actions Gemini is undertaking to foment this sought-after product.
We understand the Commission’s concerns and are working hard to address them (i.e., increased marketplace surveillance). […] We are committed as ever to making an ETF a reality!
A user says that he has concerns with “marketplace surveillance.” To this, Cameron responded:
I know, it sounds worse than it is, lol. The term suffers from a branding issue, but it’s not Big Brother. Marketplace Surveillance is commonplace in equities and derivatives markets — so we aren’t re-inventing the wheel here, just bringing best practices into crypto.
A user asked a somewhat difficult technical question regarding why Gemini has yet to implement Segregated Witness. Tyler Winklevoss answeredthis questionby saying:
Our Bitcoin hot wallet was made before Segwit was but a twinkle in Pieter Wuille’s eye. It would be very tricky to retrofit Segwit into there. So we built a new hot wallet, from the ground up, with support for Segwit, transaction batching, Bech32 addresses, and all sorts of other goodies. We used that new system for Zcash, Litecoin, and Bitcoin Cash, which is why we’re already using both native and P2SH wrapped Segwit for Litecoin.
CCN askedsome questionsthat were not answered.
At time of writing, Gemini was the #52 in terms of market volume. Their strategy of cautiously implementing additional crypto products has seen their retail market potential usurped by exchanges like Coinbase and Binance. Coinbase was #30. Binance was #2, recently overtaken by newer contender LBank.
The postCameron Winklevoss: “We Know We Aren’t Going to Please Everyone”appeared first onCCN. || Bitcoin News Crypto Currency Daily Roundup November 27: Bitcoin News
The rundown: Bitcoin and all major currencies were down in the morning; Ohio becomes the first state in America to accept payment for taxes via cryptocurrency; NASDAQ plans to list Bitcoin futures by the first quarter of 2019; Malaysia warns businesses against launching cryptocurrencies before issuance of legal guidance by the central bank; Al Hilal Bank becomes the world’s first Islamic bank to conduct a bond transaction on blockchain; and more.
Here is what is happening in the cryptocurrency market on Tuesday.
SEE:Malaysia Directs All Crypto Projects To Seek Central Bank Approval Before Launching
SEE:Another Crypto Company Gets Cease And Desist Order From North Dakotan Authoritie
In the News
Ohiohas become the first state in America and one of the first governments in the world to accepttaxes via cryptocurrency. The Office of the Ohio Treasurer has launchedOhioCrypto.comto enable businesses pay taxes with cryptocurrency. The Treasurer’s office has selectedBitPayas a third party cryptocurrency global payment processor.
YGGDRASHhas partnered withREMIIT, a blockchain powered open market remittance platform. YGGDRASH is developing a blockchain platform to enable the blockchain experience in everyday life, while REMIIT’s blockchain-based remittance platform uses smart contracts to reduce network complexity.
Ledger, a crypto assets provider, has expanded its U.S. presence to New York City and appointed Demetrios Skalkotos to lead global business unit operations for Ledger Vault, an enterprise security solution for financial institutions.
WORBLI, an EOS-based financial services network for enterprises and individuals looking to unlock the potential of blockchain technology, has teamed up with identity verification providerOnfido. The partnership will allow for the fast onboarding of people and services to the WORBLI network with full KYC and AML verification, according to a press statement.
TheNASDAQ Stock Marketis planning to list Bitcoin futures by the first quarter of 2019,Bloombergreported, citing two people familiar with the matter. According to the report, NASDAQ has been at work to address the concerns of the Commodity Futures Trading Commission before launching the contracts.
Businesses wanting to introducecryptocurrencies in Malaysiamust wait for legal guidance from Bank Negara Malaysia, said Malaysia finance ministerLim Guan Eng. Addressing parliament on Monday, Guan Eng advised “all parties wishing to introduce bitcoin (style) cryptocurrency to refer first to Bank Negara Malaysia as it is the authority that will issue the decision on financial mechanism,” reports theNew Straits Times.
Abu Dhabi-basedAl Hilal Bankhas become the first Islamic bank in the world to conduct the resale and settlement of a $500-million bond on blockchain. The bank aims to transform the Sukuk market by using blockchain and integrating it into their infrastructure, paving the way for innovative digitized Islamic Sukuks, dubbed Smart Sukuks, according to a press statement.
TheBahrain Institute of Banking and Finance (BIBF)has launched its Blockchain Academy to offer the kingdom’s first Blockchain Professional Qualification Program. With the professional qualification program launching on January 6, 2019, the BIBF in collaboration with the Dubai-based training providermyLearning Keywill offer a five-day training program to prepare participants to earn the international qualification of Certified Blockchain Professional.
Cryptocurrency Prices Today (As of 9:37 AM EST)
Bitcoin (BTC)is down 1.57% over the past 24 hours, trading at $ 3,754.75.
Ethereum (ETH)is trading at $105.77 in the morning, down 4.38% over a 24-hour period.
Bitcoin Cash (BCH)is trading at $174, down 3.46% over the past 24 hours.
Ripple (XRP)is trading at $0.3526, down 2.27% over a 24-hour period.
Litecoin (LTC)is trading at $29.83, up 1.32% over a 24-hour period.
To view more information, clickhere.
The postBitcoin News Crypto Currency Daily Roundup November 27appeared first onMarket Exclusive. || Immuno-Oncology Suffered a Setback in 2018. What’s Next?: PD-1 checkpoint inhibitors are among the most successful and widely used cancer drugs in the world, but they're not perfect medicines. Many people fail to respond to them or relapse after taking them, so studies have begun that team next-generation drugs with them to try to improve results. Unfortunately, optimism for combination approaches was dealt a big blow in 2018 whenIncyte's(NASDAQ: INCY)trial of its IDO inhibitor alongside PD-1s failed.
In this clip from The Motley Fool'sIndustry Focus: Healthcare, analyst Shannon Jones and Todd Campbell review the performance of PD-1s in 2018 and offer up thoughts on their future.
A full transcript follows the video.
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This video was recorded on Dec. 12, 2018.
Shannon Jones:We're going to talk about the leaders of the immuno-oncology front, specifically leaders who are producing a kind of drug called checkpoint inhibitors. These PD-1s continue to dominate, but as you describe it, Todd, there have been cracks in the armor. The next key is combination therapies. How do you get them working together?
Todd Campbell:Right. Immuno-oncology has been the big story of this decade. The launch of PD-1 drugs,Bristol Myers' Opdivo,Merck's Keytruda, they've revolutionized how we attack certain cancers like melanoma and lung cancer. But, now that they're being so widely used, we are starting to see that people do relapse after receiving these therapies, some people don't respond to them, maybe there are more side effects than we initially thought to their use. So, you've got a bunch of different companies who've gone out and said, "How can we improve upon these PD-1 drugs?" So, they're running combination trial therapies, where they're taking their drugs in development and using them alongside Opdivo and Keytruda and some of these others in that same class of drugs.
The hope had been that that would be a slam dunk. You take these drugs, they have mechanism of action X, you match them up with the anti-PD-1s that have mechanism of action Y, and sure enough, it all works perfectly. More people ended up responding for longer periods.
Unfortunately, some of that enthusiasm got tempered earlier this year. That was because Incyte had been doing a combination study matching up its IDO inhibitor with a PD-1 inhibitor, and unfortunately, when the trial results came in, that combo failed to outperform PD-1 use alone. That really threw a big monkey wrench in the concept of, will combination therapies actually improve upon the therapy or not?
Jones:Todd, I would dare say that that Phase III trial failure with Incyte's drug was probably the biggest pipeline failure, just because there was so much hype leading into that Phase III readout. Everyone said, "OK, these checkpoint inhibitors, we know that they work in some patients, and for those that do, you see some impressive results. But if we can start to combine with an IDO inhibitor... " There are other combinations that have been tested and haven't really proven them out. But, there was so much hype leading into this Phase III study. I think this was probably the biggest heartbreak for many of us that love this space. Yeah, a lot of chip in the armor when it comes to PD-1s. Definitely something to keep an eye on. Some of the hype related to these combination therapies has been tempered moving into 2018, and it'll probably continue to be so for 2019, as well.
Campbell:I mean, there are 1,500 clinical trials still ongoing for combination therapies with PD-1s. 1,500. Which is crazy. It's up from 216 in 2016. PD-1s are going to remain the mainstay. If you look at Opdivo and Keytruda, the two top-selling ones, if you combine their sales together, they did almost $4 billion in sales last quarter. If you look at estimates, PD-1s could be $30 billion drugs by 2025. I think PD-1s will remain a mainstay, but for investors heading into 2019, reign in a little bit of your optimism for any trial readouts that are combination-oriented.
Shannon Joneshas no position in any of the stocks mentioned.Todd Campbellhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
Este nuevo protocolo, denominado RSK Name Service(RNS), es un proyecto que busca convertir las direcciones públicas de las carteras de #bitcoin, conformadas por una secuencia alfanumérica, en una dirección sencilla y legible #17Ene https://twitter.com/CriptoNoticias/status/1085884432890773504 …
Este nuevo pr… || DXLIVEは報酬額とかも自分用のページから確認できるので、目標金額の管理なんかもしやすいです。
また通常の収入（1分2ドル×同時チャット人数）以外にもチップなどのボーナスとかもあります♪ || Le cours du #Bitcoin est de 3185.13€ (3618.77$) #Blockchain #Cryptocurrency || 最も高くBTC/JPYを売れるのは？(2018-12-27 19:33:06 現在)
BITPoint 417600.00
bitbank 417564.00
coincheck 417446.00
Liquid 416980.48
bitFlyer 416670.00
Zaif 415955.00 || Bitcoin price BOMBSHELL: Experts say SELL NOW as Bitcoin to bring ‘pain’ for investors https://todaynews.pro/bitcoin-price-bombshell-experts-say-sell-now-as-bitcoin-to-bring-pain-for-investors/ …pic.twitter.com/74rgdI3Apw || More regulation might mean no more #gold rushes like 2017, but will create a better environment overall. #bitcoin #xrp #ethreum #crypto #anonymous #cryptonews || Mining Express Business introduction（English Ver.）
Internal disclosure of mining factory
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#BTC #MiningNews #bitcoin || AIDUS Project rating at the @ICOBirds Plarform. Thank you very much!
#Aidus #AIDUSofficial #blockchain #blockchaintechnology #blockchainnews #digitalcurrency #crypto #cryptocurrency #ethereum #ETH #ethreumclassic #stockmarket #exchange #bitcoin #btc #bitcoinnews #bitcoininfopic.twitter.com/2b6Ghnfxzw || 【悲報】韓国仮想通貨取引所、なんと約〇億円のビットコインを手違いでエアドロップ・・・・！ $BTC http://bobtail.xsrv.jp/matome-chanel/money/?p=30066 …pic.twitter.com/r3SsD8iRW6 || #Bitcoin Price: USD $3547.91 $BTC http://ow.ly/4naJD6 pic.twitter.com/ZqKXzJt6uN
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Trend: down || Prices: 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-11-18]
BTC Price: 16697.78, BTC RSI: 36.60
Gold Price: 1751.90, Gold RSI: 63.69
Oil Price: 80.08, Oil RSI: 37.85
[Random Sample of News (last 60 days)]
Schumer Says Congress Should Deal With Debt Ceiling This Year: (Bloomberg) -- Senate Majority Leader Chuck Schumer said he wants to address the nations debt ceiling this year, ahead of Republicans expected takeover of the House in January. Most Read from Bloomberg FTXs Balance Sheet Was Bad Musk Publicly Punishes Twitter Engineers Who Call Him Out Online Worlds Biggest Crypto Fund Hits Record 42% Discount to Value of Bitcoin It Holds FTX Latest: Binance CEO Zhao Plans Recovery Fund Griffin to Three-Time Loser Trump: Step Aside for DeSantis Wed like to get debt ceiling done in this lame-duck session, and it should be done in a bipartisan way, Schumer said Monday at the Capitol. Schumer hadnt previously committed to bringing up the debt limit before the end of December. His statement aligns him with House Speaker Nancy Pelosi, who said Sunday Congress should raise the federal debt ceiling to avoid Republicans using it to bargain for spending cuts. US Treasury Has Scope to Avoid Debt Ceiling Gimmicks Entirely Bloomberg Intelligence estimates the current debt cap of about $31.4 trillion is likely to be reached in September or October of 2023. Republicans are poised to take narrow control of the House next year, and key GOP lawmakers have said that they will seek Social Security and Medicare eligibility changes, spending caps, and safety-net work requirements as the price for negotiating a debt-limit increase next year. Raising the debt limit on a bipartisan basis would require agreement from at least 10 Republicans in the Senate. Senate Republican leader Mitch McConnell, who said last year the US would never default, could again play a key role in any solution. Democrats could use a budget maneuver to raise the debt ceiling without GOP help, but doing so means the Democrats own the debt politically and it would take time from other legislative priorities. In 2011, a standoff in Congress over the debt limit brought the US within two days of defaulting on its debt, resulting in global markets slumping and Standard & Poors downgrading the USs sovereign rating. Story continues Most Read from Bloomberg Businessweek How Apple Stores Went From Geek Paradise to Union Front Line Americans Have $5 Trillion in Cash, Thanks to Federal Stimulus One of Gamings Most Hated Execs Is Jumping Into the Metaverse The Golden Era of AI Chess Makes Things Tricky for Players Meta Investors Are in No Mood for Zuckerbergs Metaverse Moonshot ©2022 Bloomberg L.P. || GLOBAL MARKETS-Stocks slump to 2-year low as rates reality bites: * MSCI AxJ index slides 1%; S&P 500 futures wobbly * Yen steady but traders wary of more intervention By Tom Westbrook SYDNEY, Sept 23 (Reuters) - Stocks hit a two-year low on Friday and bonds eyed big weekly losses as the prospect of U.S. interest rates rising further and faster than expected rattled investors, while a rising dollar had currency markets skittish following Japan's intervention. Interest rates rose sharply this week in the United States, Britain, Sweden, Switzerland and Norway - among other places - but it was Federal Reserve members' outlook for persistently high U.S. rates through 2023 that set off the latest round of selling. MSCI's world stocks index touched its lowest since mid-2020 on Friday and is down about 12% in the month or so since Fed Chair Jerome Powell made clear that bringing down inflation would hurt. S&P 500 futures struggled to steady in the Asia session and fell 0.1%, while European futures were flat. MSCI's index of Asia shares outside Japan fell 1%. Unless it bounces, it is on course for the worst month since March 2020. "It's reality coming through," said Sean Taylor, Asia-Pacific chief investment officer at DWS in Hong Kong. "You had a market that believed rates were coming down next year...now that's changed a lot," he said. "And the equity market is now adjusting to that." Bond and currency markets are also unmoored, with the latest lift in U.S. rates extending a rally in the dollar that is starting to cause some discomfort for trading partners. The euro and yen fell to 20-year lows on Thursday, until Japanese authorities stepped in to the market for the first time since 1998 to buy yen and arrest its long slide. The resultant spike has the yen up to 142.20 per dollar and on course for its best week in more than a month, though analysts say the yen's respite is likely to be short-lived. Other currencies were struggling for traction. The euro was at $0.9825, barely above its low of $0.9807. Story continues The Australian and New Zealand dollars hovered near their lowest levels since mid-2020, sterling was parked by its lowest in nearly four decades and at 7.1028 per dollar China's yuan is within striking distance of a record low. VOLATILITY NOW Bond markets have been in meltdown as both investors and policymakers grapple with how far short-term rates will need to rise to tame runaway inflation around the world. Britain is a case in point. On Thursday, a divided Bank of England hiked rates 50 basis points (bps), disappointing currency traders, while promising bond sales and further hikes that together with fiscal policies tanked gilts along the curve. Two-year gilt yields are up nearly 50 bps this week, on track for their worst week in 13 years. Later on Friday, new finance minister Kwasi Kwarteng will announce a fiscal plan that is probably inflationary and even more bad news for gilts.. Treasuries didn't trade in Asia owing to a public holiday in Japan, but longer dated issues were dumped overnight, sending the 10-year yield up about 20 bps to 3.71%. "The 10-year was playing catch up to the newly calibrated cash rate," said Westpac's head of rates strategy, Damien McColough, in Sydney. "If you believe the front-end is going to peak at 4.60% can you really sustain 10-year bond yields at 3.70%?" he said. "It's very skittish price action ... I think that this volatility continues in all markets in the near term (until) the rates market settles." In commodity markets, oil was on track for a small weekly loss as rate hikes raise demand concerns. Brent crude futures hovered at $90.07 a barrel in Asia on Friday. Gold, which pays no income, has suffered as U.S. yields have gone up and it was last flat at $1,669 an ounce. Bitcoin has been likewise battered amid the flight from risky assets and held at $19,423. (Editing by Sam Holmes and Kim Coghill) || Why Speculative ASTS Stock Has Moon-Shot Potential: Can you handle an all-or-nothing bet? Here’s one to consider: AST SpaceMobile (NASDAQ: ASTS ) stock, a very different kind of private space company than others you’ve probably heard about. It took a while, but AST SpaceMobile finally just launched a test satellite into orbit. This is encouraging, but after inspecting the company’s financials, you might have a lukewarm opinion about ASTS stock. AST SpaceMobile doesn’t send multimillionaires into space like some other space companies do. Rather, AST SpaceMobile is on a quest to build the “first and only space-based cellular broadband network to be accessible by standard smartphones.” InvestorPlace - Stock Market News, Stock Advice & Trading Tips That’s an exciting and risky proposition. Not everyone wants to invest in niche market pioneers, as some will success while others will fail. Besides, first movers are sometimes unprofitable business ventures. If AST SpaceMobile fits into this category, then prospective investors should definitely proceed with due caution. ASTS AST SpaceMobile $8.77 What’s Happening with ASTS Stock? One problem with ASTS stock is that it just had a moon-shot, and may be in the “coming back to Earth” phase of the trip. The share price peaked at around $14 in August before making a steep U-turn. Don’t get the wrong idea. It’s exciting to consider that AST SpaceMobile wants to build a global space-based cell-phone connectivity network. The company will be a trailblazer if it succeeds. At least the company can say that it achieved a major milestone recently. It took a while to get there, though. Back in early August, AST SpaceMobile’s BlueWalker 3 test satellite arrived at Florida’s Cape Canaveral in preparation for a launch. Fast-forward to early September, and AST SpaceMobile announced that BlueWalker 3 was expected to reach orbit on Sept. 10. At long last, on Sept. 13, AST SpaceMobile confirmed that the test satellite successfully achieved orbit . Story continues AST SpaceMobile Is Unprofitable, but Improving AST SpaceMobile achieved a milestone and all of the bragging rights that come with that. Yet, prospective investors shouldn’t make a move until they’ve looking into AST SpaceMobile’s financials, which are imperfect but also showing signs of improvement. This, along with the wild price action of ASTS stock, is what might be off-putting for potential investors. For the three months ended June 30, AST SpaceMobile booked a $2.924 million net earnings loss. This may be a deal-breaker for some stock traders. On the other hand, AST SpaceMobile’s quarterly loss was substantially better than the $19.978 million net loss from the year-earlier period. Could AST SpaceMobile close the profitability gap in the near future? If the company’s most recently reported quarterly per-share net earnings loss was just 6 cents, then maybe there’s a profitable pathway for AST SpaceMobile. What You Can Do Now It’s fine to cheer AST SpaceMobile on as the company successfully launches BlueWalker 3 into space. The company has some work to do, though, on the financial front. Cautious traders might want to watch and wait, and see if AST SpaceMobile can translate its ambitious vision into bottom-line profits. Meanwhile, risk-tolerant investors may choose to hold a few ASTS stock shares, as long as they’re prepared for either a moon-shot or a possible crash landing. On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. Louis Navellier, who has been called “one of the most important money managers of our time,” has broken the silence in this shocking “tell all” video … exposing one of the most shocking events in our country’s history… and the one move every American needs to make today . More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post Why Speculative ASTS Stock Has Moon-Shot Potential appeared first on InvestorPlace . || Bitcoin Stuck in a Rut as BofA Survey Reveals 'Long Dollar' Is Most Favored Trade: Bitcoin (BTC) was supposedlydue fora recovery rally in theseasonallybullish month of October. So far, however, the bounce has remained elusive as sophisticated investors continue to park money into the U.S. dollar (USD).
Bank of America's (BofA) global fund manager survey published on Tuesday revealed that the "long dollar" – taking a bullish exposure in the greenback – was the preferred trade for October, with 64% of respondents calling it the most crowded bet. The investment banking giant polled 371 fund managers overseeing $1.1 trillion in assets during the week ended July 13.
The greenback has consistently been the most sought-after asset since July, thanks to Federal Reserve's ongoing efforts to control inflation with unusually large interest rate hikes that have lifted the benchmark interest rate by 300 basis points in six months. The Fed tightening has roiled risk assets, including cryptocurrencies and sent the dollar higher.
Crowded trades are often associated with bubbles and mark major price tops. For instance, "long bitcoin" and "long technology stocks" were the most sought-after trades last year. Bitcoin peaked at $69,000 in November 2021 and has dropped more than 70% since then. Wall Street's tech-heavy index Nasdaq has tanked 31% this year.
Therefore, some observers expect the dollar to come under pressure in the coming months. A notable pullback in the greenback, if any, would bode well for risk assets.
"We need the dollar to reverse. That happens in late January," crypto trader and analyst Alex Kruger said in atweet threadearly Wednesday, noting the long dollar's overcrowded status.
Per Kruger, the Fed's rate hike cycle may end in February, paving the way for markets to short, or sell, the dollar.
However, according to crypto services provider, Matrixport's head of research and strategy, Markus Thielen, the odds might remain stacked against the dollar bears.
"Its tough to be USD bearish. The U.S. economy is the one that is booming and is self-'energy' sufficient and a net exporter of energy. That, coupled with the on-shoring of the previously outsourced manufacturing industry, is driving this big boom," Thielen told CoinDesk.
The U.S.' relative economic strength and energy sufficiency may continue to fuel demand for the dollar even after the Fed stops raising rates. Besides, the seasonal trends indicate that the first quarter is usually positive for the dollar.
Data sourced from Equity Clock shows the start of the year into early March is a good period for the dollar. The currency often peaks in the second half of the March and bottoms out in early May.
Coincidentally, bitcoin's previous bull markets have peaked in December, paving the way for a price crash in the first quarter. And while the 2018 bear market ran out of steam in the last month of that year, bulls remained on the fence in the first three months of 2019 – a seasonally bullish period for the dollar.
It remains to be seen how things pan out. As of writing, bitcoin traded near $19,250. || Galaxy Digital Offers Crypto Price Data on Chain Via Chainlink: Financial services firm Galaxy Digital (GLXY.TO) has teamed up with Chainlink Labs to bring crypto pricing data to blockchains.
The initiative will utilize Chainlink’s oracle network, and the data will be directly distributed to multiple blockchain applications including those in the decentralized finance (DeFi) ecosystem.
“Blockchains don’t come preloaded with external data, so we’re providing reference prices for spot digital assets that will be able to power a variety of complicated financial structures that only have traditionally been the domain of our existing financial system,” Zane Glauber, Galaxy’s head of strategic opportunities, told CoinDesk.
The data contains spot prices for cryptocurrencies such as bitcoin (BTC) and ether (ETH), as well as other cryptocurrencies in various currency pairs, including dollars, according to a statement.
Glauber also told CoinDesk the crypto reference data will aid developers that are building their DeFi primitive or dapp. “These reference prices are important as they can be embedded within smart contracts tied to lending, borrowing, options, futures and more to settle matters all on chain. The growth of these future products should help secure the growing total value locked on DeFi apps, supporting the future development of the ecosystem,” he added. || Craig Wright Loses Lawsuit Against Hodlonaut in Norway Over Satoshi Nakamoto Claims: Magnus Granath, who goes by “Hodlonaut” on Twitter, has won a lawsuit in Norway against Craig Wright, court documents revealed Thursday. Wright has long claimed he is the pseudonymousBitcoincreatorSatoshi Nakamoto—but Hodlonaut and many others have publicly challenged Wright’s claims.
“I won. Welcome to law,” Hodlonauttweetedin response to the Norwegian judge’s decision—a callback to Wright’s now infamous “welcome to law” threat that he issued against Hodlonaut and several others in 2019 after filing a series of defamation lawsuits.
Hodlonaut filed the case in Norway in an effort to prove that the numerous tweets he published about Wright and Wright’s Nakamoto claims were, in fact, not defamatory—a way of getting ahead of a pending defamation case in the U.K. Hearings for the Norwegian case began last month on September 12.
“I expected to win, since truth is so clearly on my side in this case,” Hodlonaut toldDecryptvia DM. “I am very happy that the judge saw it the same way.”
According to the Norwegianruling, translated byCoinDesk, Hodlonaut tweeted in 2019 that Wright was a “pathetic scammer,” “cringe,” “clearly mentally ill,” and repeatedly called him a “fraud,” even creating a hashtag slamming Wright in a satirical manner.
During the trial, Wrightcalledsuch statements “obviously very defamatory.”
“There’s a difference between a debate and strong language and truth,” Wright said.
Hodlonaut appears to have many supporters. A website calledDefendingBTClinks to adonation pagethat indicates nearly 2,700 individuals donated over 71 Bitcoin and $74,000 toward legal defense costs for the bitcoiner.
In 2019, Binance CEO Changpeng “CZ” Zhao alsotweetedin support of Hodlonaut with the message, “Craig Wright is not Satoshi.”
Andrew Rossow, an adjunct professor of law and attorney who is familiar with Holdonaut's case, toldDecryptvia email that Thursday's ruling was“to be expected,”arguing that Wright's claims“were of such a bold, controversial nature, that it almost inevitably welcomes pushback and disagreement.”
“There isn't any proof that we know of right now that would affirm Wright's claims, which opens the door to such criticisms that we've seen here from Granath,”Rossow said.
Preston Byrne, legal partner at Brown Rudnick, called Wright’s previous U.K. “victory” in August against podcaster Peter McCormack “pyrrhic.” Wright had sought damages from McCormack but was only awarded a single English pound, currently worth $1.13 USD, in part because Wright presented “deliberately false” evidence in the case, the court said. || US stocks tumble after another strong jobs report bolsters Fed's hawkish position: A person walks into a new cookie shop next to a "Help Wanted" sign on January 12, 2022 in New York City. Alexi Rosenfeld/Getty Images US stocks tumbled on Friday after a strong September jobs report bolstered the Fed's hawkish stance. The US economy added 263,000 jobs in September and the unemployment rate fell to 3.5%. The better-than-expected jobs report all but assures another 75 basis point rate hike in November. US stocks erased pre-market gains and tumbled on Friday following a stronger-than-expected September jobs report. The US economy added 263,000 jobs in September , ahead of consensus expectations for 255,000 in new jobs added. The unemployment rate fell to 3.5% from its prior month reading of 3.7%. Expectations were for the unemployment rate to remain unchanged. Much of the job gains were in the leisure and hospitality and health care sector, and average hourly earnings also moved higher in September. The report all but assured another outsized 75 basis point rate hike by the Fed at its upcoming November FOMC meeting, as it continues to try and tame elevated inflation. The CME Fed Watch Tool put the odds of a 75 basis point rate hike at 80%, a 5% jump from yesterday's expectations. Here's where US indexes stood shortly after the 9:30 a.m. ET open on Friday: S&P 500 : 3,699.36, down 1.21% Dow Jones Industrial Average : 29,662.38, down 0.88% (264.56 points) Nasdaq Composite : 10,887.21, down 1.68% Here's what else is happening this morning: Credit Suisse jumped 7% on Friday after the embattled bank launched a $3 billion bond-buyback program. The move was seen as a sign of strength just one week after concerns grew of a potential Lehman moment for the Swiss-based bank. Another major crypto hack was pulled off this week, this time on the Binance-linked blockchain. The hack is estimated to have drained $570 million worth of Binance coin. Cannabis stocks extended their gains from Thursday's trading session after President Joe Biden announced federal pardons for simple marijuana possession. Wharton professor Jeremy Siegel and Guggenheim's Scott Minerd warned investors that the Fed's actions are likely to "break" something that could ultimately lead to a recession. Story continues In commodities, bonds and crypto: West Texas Intermediate crude oil jumped 1.16% to $89.48 per barrel. Brent crude , oil's international benchmark, rose 1.22% to $95.57. Gold fell 0.55% to $1,712.30 per ounce. The yield on the 10-year Treasury rose seven basis points to 3.89%. Bitcoin fell 1.78% to $19,632, while ether fell 1.70% to $1,332. Read the original article on Business Insider || A crypto challenge for lawyers: How to cite blockchains and NFTs?: Every new technology ends up in court sooner or later, and crypto is no exception. Today, judges across the world are hearing cases involving everything from stolen Bitcoin to crypto contract disputes to who gets to keep NFTs in adivorce. But as lawyers become more familiar with crypto and blockchains, they are facing a new problem: how to describe them in court filings?
While the challenge of citing blockchain data may seem relevant only to legal nerds, it has real-world implications. Citations—which can point to earlier cases, journal articles, or other sources—are the building blocks of legal precedent and, as more disputes over NFTs land in court, judges and lawyers will need a reliable way to find them.
In the handful of NFT cases that have come before the courts, the citations don’t point to a blockchain—which would provide a definitive account of transactions involving the NFT—but instead refer to a website or just a written description. This includes ahigh-profilecasefrom this summer that saw the Department of Justice charge a senior executive at NFT marketplace OpenSea with insider trading.
Blockchain- and NFT-related cases are not the first in which lawyers have wrestled with how to cite new technology. In the 1990s, important sources of information and evidence began to appear on what people called the World Wide Web. In response, popular citation guides like theBluebook—typically edited by law students—created standards for citing online sources similar to those that have long existed for books, journals, and other parts of the law.
Now, as blockchains and NFTs become more prevalent, the first standard citation for those has arrived thanks to some crypto-curious law students.
Alexandra Champagne is a law student in her final year at McGill University in Montreal. She is also citations editor at theMcGill Law Journal,which publishes theCanadian Guide to Uniform Legal Citation(a.k.a. theMcGill Guide), Canada’s most widely used legal citation guide, akin to the theBluebookused in the U.S.
In the course of contemplating changes to the next edition of the guide, Champagne realized the legal world has yet to account for crypto—a field in which she and and others at the journal have dabbled in their personal lives, including an editor who had bought NFTs. While theBluebookand other guides include rules for citing online sources, simply pointing to a website can be insufficient in the case of NFTs.
As Champagne toldFortune,blockchains and smart contracts (which serve to create and transfer NFTs) are a new and distinct technology from the web. And given that blockchains create a permanent, public, and tamperproof record of technologies, it made sense to incorporate them in a system of legal citation. To that end, she and her colleagues developed citation rules that include references to blockchain-specific elements like token standards—Bitcoin or Ethereum, for instance—and the strings of characters, known as smart contract IDs, that point to the NFT on the blockchain. Here is a screenshot of the forthcoming standard:
As you can see above, the guide provides example citations for famous NFTs such as the one the artist Beeplesold for $69 millionand one from the Bored Ape set, which is popular with celebrities.
The new blockchain and citation rules will go into effect when the 10th edition of theMcGill Guideis published next year by Thomson Reuters.*
In response to an inquiry fromFortune,editors at theBluebooksaid the guide has yet to explore a citation format for blockchain-based data, but that they will recommend future editors take the question into account before an updated edition is published in 2025.
Jennifer Allison, a librarian at Harvard Law School Library, says that in the course of researching NFT citations she discovered a law journal article discussing the topic. The article included a picture of an NFT, describing it as a “tokenized representation of a mural,” but with a citation that simply pointed to a web page at OpenSea.
Allison toldFortunethat the issue of NFT citation is likely to come up more and more as digital assets become the subject of legal disputes over insider trading, breach of contract, and even probate cases. She says that, for now, lawyers and judges may be content to simply describe NFTs as they would another piece of art, by citing its title and where it was sold—but over time this is likely to prove inadequate.
“A painting doesn’t have the same digital footprint as an NFT, and McGill’s proposed citation model seems to do a better job of informing the user what exactly is being cited, and how the reader can locate it or more information about it,” Allison said by email.
Allison also raised the issue of “link rot”—a term that describes the phenomenon of URLs becoming broken or unusable. By 2013, link rot had became a major issue for the highest court in the land, leading theNew York Timesto publish an article headlined“In Supreme Court Opinions, Web Links to Nowhere”that revealed half the web pages cited in the court’s decision no longer worked.
In response, theBluebookand other citation guides called for references to web pages to include so-called permalinks—a duplicate URL but one maintained by Harvard or other university libraries. The idea is that even if the original link no longer works, the permalink always will. Today, the system has become the standard across courts and academic publishers.
In the case of smart contracts and NFTs, however, it’s unclear if permalinks will be necessary since, by their nature, blockchains are designed to be permanent and immutable. Meanwhile, in the event future citations editors do call for a secondary source locating NFTs, one option may be to incorporate decentralized file storage services like Arweave or Filecoin that are tied to various blockchains.
It will likely be years before all of this comes to pass, but for now it appears inevitable that blockchains will become a source of authority for the legal system in the way that the web did two decades ago.
“We don’t know what kind of unique forms of technology will emerge from blockchain that may not even be tangentially tied to a particular URL,” McGill’s Champagne explains. “Having a way to cite blockchain technology that directly references the smart contract, token ID, etc., will hopefully provide authors with a sustainable approach to communicate information to their readers.”
*The citation is reproduced by permission of Thomson Reuters Canada Limited fromCanadian Guide to Uniform Legal Citation, 10thEdition/Manuel canadien de la référence juridique 10E édition; publication forthcoming in 2023.
This story was originally featured onFortune.com
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Americans carry 4 credit cards on average. Here’s how many you should have, according the the experts || Market Wrap: Bitcoin and Ether Kick Off Week in Positive Territory: Bitcoin and ether showed continued resiliency Monday, both starting the week in positive territory.
Bitcoin’s (BTC)price rose 2.7% on Monday on low trading volume, continuing its recent range-bound trajectory. The largest cryptocurrency by market capitalization was recently trading just north of $19,000, and 3% below the psychologically important $20,000 level.
Ether’s (ETH)price increased 3.2% on Monday, on low trading volume when compared with its 20-day moving average for volume. Ether’s recent trajectory has been flat, with prices moving an average of just 1.2% over the prior 10 trading days. Since the Ethereum Network’s transition from proof-of-work to the more energy-efficient proof-of-stake mechanism, ETH’s price has declined 20%. The supply of ETH has increased by 11,000 ETH since the transition, but would have increased by more than 228,000 had the Merge not occurred.
The CoinDesk Market Index (CMI), a broad-based market index that measures performance across a basket of cryptocurrencies, increased by 2.33%.
Economic Calendar:September ISM Manufacturing PMI data led off the week with an unexpected decline to 50.9 versus estimates of 52.8. Manufacturing PMI data measures inventory, supply, production, employment and pricing info within the manufacturing sector.
An ISM Manufacturing PMI report that exceeds 50 implies that manufacturing is expanding. A reading below 50 indicates that manufacturing is declining. Today’s reading of 50.9 represents the slowest increase in manufacturing activity since 2020.
The ISM Manufacturing index fell to 51.70 from 52.5 in August, and slightly below the consensus estimate of 51.9.
U.S. Equities:Traditional equities increased across the board, with the Dow Jones Industrial Average (DJIA), tech-heavy Nasdaq composite and S&P 500 rising 2.6%, 2.3% and 2.6%, respectively.
Commodities:In energy markets, WTI crude and European Brent crude rose 4.7% and 4.1%, respectively. Both increases were likely due to the Organization of Petroleum Exporting Countries (OPEC) announcing a possible reduction in supply of one million barrels of crude oil.
OPEC will not make a formal decision until its meeting Wednesday in Vienna, so the price could reverse if the group does not follow through on the production cut.
In metals, traditional safe-haven asset gold rose 2.2%, while copper futures declined 0.2%.
●Bitcoin (BTC): $19,531+1.5%
●Ether (ETH): $1,316+0.9%
●CoinDesk Market Index (CMI): $958+0.7%
●S&P 500 daily close: 3,678.43+2.6%
●Gold: $1,709 per troy ounce+2.8%
●Ten-year Treasury yield daily close: 3.65%−0.2
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
BTC trades flat while 'whales' remove bitcoin from exchanges en masse
TheSept. 29 Market Wrapdiscussed a potential uptrend because bitcoin had been reaching a series of “higher lows,” implying that buyers are willing to acquire BTC at higher prices.
Subsequent lows retraced on both Oct. 1 and Oct. 2, although this moderation occurred on the weekend when trading volume is lighter than during the week.
Monday’s volume was 40% of the 20-day average, where Saturday and Sunday trading volume was 14% and 21% of the trading volume average. The extent to which volume exceeds or falls short of its average often signals the degree of conviction behind a move.
Investors may not have to abandon hope for a resumption of an uptrend, although price action seems to favor sideways trading.
A look at BTC’s hourly chart on Monday shows the price pushing past the upper range of its Bollinger Band. Bollinger Bands are a technical indicator that plots an asset’s average price and subsequently calculates two standard deviations above and below that average.
Statistically, an asset’s price stays within two standard deviations of its average 95% of the time, making the breach of an upper or lower bound meaningful to watch.
While prices on the hourly chart have breached the top end of the Bollinger Bands, BTC’s daily chart shows its price is situated within a close range of the median price. Today’s activity may be merely pushing BTC back to a recognized average and is not providing a catalyst to push it significantly past its current level.
Derivative and on-chain activity implies an underlying support that could prevent prices from falling significantly. Funding rates for BTC have been positive for seven consecutive days, and for 16 of the last 20.
Funding rates can serve as a measure of sentiment, as investors who wish to be long BTC pay investors who wish to be short. In conjunction with this is a sharp decline in “whale” net volume to exchanges.
The graph below shows that “whales” (entities holding at least 1,000 BTC), have moved BTC off exchanges to the largest extent in four years.
BTC movement off exchanges is often viewed as bullish, or at least supportive, because it suggests investors are moving assets into cold storage and not designating them for trading.
Centralized exchanges have also seen significant BTC outflows.
• Even 'Safe' Stablecoins Might Pose Financial Stability Risk, New York Fed Says:Researchers at the Federal Reserve Bank of New York published a new paper claiming Circle'sUSDCstablecoin poses a risk to the broader financial system.Read more here.
• Listen 🎧:Today’s "CoinDesk Markets Daily" podcast discusses the latest market movements and a look at deglobalization.
• Range-Bound Bitcoin Reminds Crypto Twitter of 2018 Lull That Ended With 50% Crash:Prominent crypto commentators say they're worried bitcoin's price consolidation indicates a deeper slide is coming, just as it did four years ago.
• Kim Kardashian Pays $1.26M Fine to SEC for Promoting EthereumMax Without Disclosing Reimbursement:The reality TV star also agreed not to tout any cryptocurrencies for three years.
• Transit Swap Exploiter Returns Large Chunk of $28.9M Hack:Security firms help locate the hacker's IP address following the $28.9 million exploit.
• Bitcoin Miner Merkle Increases Hashrate by 900% in 8 Months:The miner currently has 140 megawatts of total computing power in its two facilities.
• Stablecoin Issuer Tether Increases US Treasury Portfolio, Cuts Commercial Paper Holdings to Below $50M:The firm had said it plans to bring its commercial paper holdings to zero by the end of the year.
[{"Asset": "COTI", "Ticker": "COTI", "Returns": "+13.27%", "DACS Sector": "Currency"}, {"Asset": "BarnBridge", "Ticker": "BOND", "Returns": "+11.09%", "DACS Sector": "DeFi"}, {"Asset": "Ren", "Ticker": "REN", "Returns": "+9.54%", "DACS Sector": "DeFi"}]
[{"Asset": "Celsius", "Ticker": "CEL", "Returns": "-22.85%", "DACS Sector": "Currency"}, {"Asset": "Rally", "Ticker": "RLY", "Returns": "-11.14%", "DACS Sector": "Culture & Entertainment"}, {"Asset": "Terra Luna Classic", "Ticker": "LUNC", "Returns": "-9.77%", "DACS Sector": "Smart Contract Platform"}]
Sector classifications are provided via theDigital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. TheCoinDesk Market Index (CMI)is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements. || Crypto Is Capitol Hill’s Last ‘Bipartisan Issue,’ Coinbase Exec Says: Crypto has the potential to bring Democrats and Republicans together. Faryar Shirzad, chief policy officer at crypto exchange Coinbase, told CoinDesk TV lawmakers are increasingly changing their perspective on crypto, but one thing is for certain: crypto needs clear regulation. “It may be the last bipartisan issue left in Washington,” Shirzad said during an appearance on CoinDesk TV’s “ First Mover ,” on Friday. Read more: US Senate Bill Will Give CFTC Crypto Market Oversight – but Doesn't Say How Much Shirzad, who once served as deputy advisor of the National Security Council for the George W. Bush White House, said there needs to be a clear consensus on which regulator should be responsible for overseeing the crypto industry. Whether that oversight falls on the shoulders of the Commodities Futures of Trading Commission (CFTC) — as Shirzad prefers — or the Securities and Exchange Commission (SEC) has yet to be seen. Most recently, a bipartisan bill proposed by the U.S. Senate hinted at giving that responsibility to the CFTC, essentially giving the market regulator “ exclusive jurisdiction ,” and the ability to define what is and is not considered a “digital commodity.” The CFTC oversees commodities futures, such as oil and metal, including financial currencies, and has taken on a prominent role in crypto. In part that’s because some exchanges, such as the CME, offer bitcoin (BTC) and Ether (ETH) trading options. The SEC on the other hand, is responsible for overseeing the securities markets, including stocks and bonds, and more broadly aims to protect investors. Read more: CFTC Would Become Primary Crypto Regulator Under New Senate Committee Plan Shirzad said there is “little dispute about the importance of having regulation,” both from progressive and conservative lawmakers, but the issue of which U.S. agency should be charged with regulating the cash market, and having oversight over crypto exchanges, including Coinbase (COIN), is still up in the air. In the past, The SEC has cracked down on the exchange for allegedly marketing its tokens in a manner that would deem them as securities. Story continues Still, Shirzad says it is apparent that “commodities should be regulated by the national commodities regulator, which is the CFTC.” What’s left is transparent regulatory standards. “Some amount of regulation makes sense for the parts of the crypto economy that need regulation,” Shirzad said. “The thing that members of Congress are most focused on is regulating crypto intermediaries.” Crypto intermediaries, like Coinbase, that take in the public’s money and work as the middleman to delegate market activity, fall under that purview. “If any particular regulator thinks any particular token is one thing, the degree to which we can have clarity on that allows us to operate under clearer guidelines and allows us to do what we need to do,” Shirzad said. Read more: Crypto Doesn't Need More Guidance, SEC Chair Gensler Says
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 16711.55, 16291.83, 15787.28, 16189.77, 16610.71, 16604.46, 16521.84, 16464.28, 16444.63, 16217.32
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-09-02]
BTC Price: 49327.72, BTC RSI: 60.38
Gold Price: 1808.70, Gold RSI: 54.97
Oil Price: 69.99, Oil RSI: 55.03
[Random Sample of News (last 60 days)]
China Securities Watchdog Seeks Communication With U.S. On IPOs: The China Securities Regulatory Commission(CSRC) has said that it will initiate talks with its U.S. counterpart and support overseas listings after the U.S. Securities and Exchange Commission halted the initial public offerings of Chinese companies,Reutersreports.
• The CSRC is looking forward to increasing its communication with theU.S. Securities and Exchange Commission(SEC) to find a suitable resolution regarding Chinese companies' listings.
• On Friday, the SEC said that it would suspend any Chinese IPOs until companies improved their risk disclosures.
• According to SEC, Chinese issuers must disclose if they were denied permission from Chinese authorities to list on U.S. exchanges and the risks of such an approval being denied or rescinded.
• The Chinese watchdog has called for mutual respect and collaboration on the issue.
• "China's basic national policy of advancing reform and opening-up is unswerving, and the financial opening to the outside world will continue," CSRC said in a statement.
• CSRC also said that it sees the prospects for Chinese capital markets as predictable, sustainable, and healthy.
• On July 6, China's cabinet said that it would strengthen supervision of all Chinese firms listed offshore.
• The central bank of China has said that non-bank payment firms must report plans for overseas listings.
See more from Benzinga
• Click here for options trades from Benzinga
• FTX/MLB Announces 0K Bitcoin Prize Money For Predicting Longest 2nd-Half HR
• Disney Makes Vaccination Mandatory For Salaried, Non-Union Hourly Workers In U.S.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Market Wrap: Bitcoin Hits Two-Month High After Late Day Surge: After spending most of the day in negative territory, cryptocurrencies made a late surge on Friday with bitcoin hitting its highest level since mid-May. Bitcoin is currently trading above $41,000 at press time and is up more than 15% over the past week. Bullish sentiment has returned after a sharp sell-off in May and two months of consolidation above the $30,000 support level.
Some analysts are optimistic and expect buyers to remain active above the 50-day moving average, which is above $34,000 now.
Cryptocurrencies:
• Bitcoin(BTC) $41239.73 +3.66%
• Ether(ETH) $2439.5, +4.58%
Related:Bitcoin Price Slumps 5% as Recent Rally Begins to Cool
Traditional markets:
• S&P 500: 4395, -0.54%
• Gold: $1813.5, -0.8%
• 10-year Treasury yield closed 1.236%, compared with 1.274% on Thursday.
“We have been talking about the market having lower liquidity during the summer for a few weeks now and we think this helps explain the sharp price action we saw that triggered the short squeeze of nearly $1 billion in futures liquidations,” David Grider, a strategist atFundStrat, wrote in a Thursday newsletter.
Grider stated that bitcoin’s spike could reflect a flight to safety from Chinese investors looking to “get out at any cost,” given the recent sell-off in Asian equities. “Bitcoin could have been trading as a proxy tool for investors looking for a hedge,” Grider wrote.
Federal Reserve Chairman Jerome Powell assured markets this week that the U.S. central bank is considering when to start winding down its program of purchasing $120 billion in bonds every month, but Wall Street analysts are already wondering what will come after that.
Related:Square’s Cash App Q2 Bitcoin Revenue Rose 200%; $45M Bitcoin Impairment Loss Taken
According to Bank of America, the Fed may not get around to raising interest rates anywhere close to the levels that were considered normal historically, anytime soon. That implies that monetary policy could stay loose for years, even after the Fed stops actively printing money to pay for the purchases of U.S. Treasuries and mortgage bonds.
The dynamic might be bullish for bitcoin, because many investors see the cryptocurrency as a hedge against the inflation and dollar debasement that might come from easy-money policies.
A similar shallow tightening pattern was seen toward the end of 2018, when the Fed pushed the benchmark interest rate up to around 2.5%, traditional financial markets went into a swoon, and by early 2019, the central bank had reversed course and started cutting rates again.
According to the Bank of America analysts, bond market investors may already be anticipating the dynamic, which may explain why 10-year U.S. Treasury yields are at historically low levels of around 1.2%, well below the most-recent annual inflation rate of 5.4%
“We think the level of rates in the U.S. reflects a market expectation that the Fed will produce only a shallow hiking cycle,” the analysts wrote.
The active entities of bitcoin have surged over the last week, rising 30% to 325,000 active entities per day,according to Glassnode. The number has been in decline from January to mid-July.
Entities refer to “a cluster of addresses that are controlled by the same network entity and are estimated through advancedheuristicsand Glassnode’s proprietary clustering algorithms,” according to Glassnode. Active entities include those active either as a sender or receiver.
Ether, the world’s second largest cryptocurrency, faces resistance near $2,500, where resistance is defined by the 100-day moving average. Ether is up about 10% over the past week and rallied nearly 30% after holding support at $1,720 on July 20. Lower support is seen at $2,000, which could stabilize a pullback.
Ether is consolidating relative to bitcoin and is on traders’ watch for a potential breakout. The ETH/BTC ratio has initial support at 0.054, which must hold in order to keep ETH’s relative uptrend intact.
Flow soars:Flow, a token powering a blockchain network focused on non-fungible tokens (NFT), surged in price after the big cryptocurrency exchange Binance said Friday it would list the project. Binance said at 7:00 UTC (3 a.m. ET) that it would list the FLOW token; since then, the price has rallied 61% to $29 from $18. On a 24-hour basis, the cryptocurrency is up 30%.
Framework to Regulate Crypto, Stablecoins:Legislation before Congress to provide a “comprehensive legal framework” to regulate the digital asset market and possibly grant the federal government the ability to ban some stablecoins wasintroducedin the U.S. House of Representatives Wednesday. According to sponsor Rep. Don Beyer (D-Va.), chairman of the U.S. Congress Joint Economic Committee, the existing digital asset market structure and regulatory framework are too “ambiguous and dangerous for investors and consumers.”
Six Dapps to Go Live on SKALE:Ethereum scaling project Skale has announced which decentralized applications (dapps) will first go live on its network. Skale Labs CEO Jack O’Holleran told CoinDesk that teams will be releasing their dapps between now and the end of this summer. Boot.Finance, Covey, CurioDAO, Human Protocol, Ivy and Minds are the projects in the initial cohort. rm.
• MicroStrategy CEO Likens Borrowing to Buy Bitcoin to Investing Early in Facebook
• Ukraine’s President Signs Law Allowing Central Bank to Issue a CBDC
• Binance to Wind Down Derivatives in Europe; Malaysia Orders Closure
• Cathie Wood’s ARK Invest Scoops Up 1.3M Robinhood Shares on Nasdaq Debut
Most digital assets on CoinDesk 20 ended up higher on Friday.
Notable winners of 22:45 UTC (6:45 p.m. ET):
chainlink(LINK) +14.73%
uniswap(UNI) +6.17%
tezos(XTZ) +3.76%
Notable losers:
the graph(GRT) -1.91%
algorand(ALGO) -1.19%
cardano(ADA) -0.04%
• Crypto Long & Short: What’s Going On With Tether?
• GoldenTree Adds Bitcoin to Its Balance Sheet: Report || EXPLAINER: How cryptocurrency fits into infrastructure bill: WASHINGTON (AP) — What does Bitcoin have to do with roads and bridges? A lot right now in the U.S. Congress. One way lawmakers propose to pay for the $1 trillion infrastructure bill the Senate approved Tuesday is by imposing tax-reporting requirements for cryptocurrency brokers, the way stockbrokers report their customers’ sales to the IRS. It could open the way for tighter regulation of cryptocurrency — something the Biden administration is moving toward as it also pushes for tax compliance. The plan could raise about $28 billion in revenue over 10 years, congressional accountants estimate. The $28 billion could get stretched very quickly. Take bridges, for example. It would cost an estimated $25.6 billion to replace all the bridges in the country that are classified as structurally deficient, according to the Federal Highway Administration. So, currency you can’t hold in your hand would effectively pay for roads, bridges, water systems, internet broadband access and shoring up the electrical grid, what President Joe Biden called “a generational investment” on par with building the transcontinental railroad in the 1800s or the Interstate highway system in the '50s. That’s testament to the explosive growth of cryptocurrencies in recent years — an enticing potential revenue source — and the mounting push by some government officials to put new reins around a largely unregulated market. After weeks of wrangling, the Senate passed the bipartisan infrastructure package in a 69-30 vote. It now moves to the House. A look at the situation: __ WHAT’S THE STORY WITH CRYPTOCURRENCY? The market for cryptocurrencies has ballooned to an estimated $1.8 trillion. They’re basically lines of computer code that are digitally signed each time they travel from one holder to the next. Not tied to banks or governments, they allow users to spend or receive money anonymously. That appeals to libertarians, off-the-grid types and risk-taking millennials who believe the financial system is rigged. But it’s also favored by international criminals, money launderers, drug dealers and ransomware hackers. The most widely traded cryptocurrency is Bitcoin, now worth around $45,000 each, down from a high in April of about $64,800. It’s notoriously volatile, in some instances spiking or plunging on public pronouncements by Elon Musk, the provocative Tesla Inc. CEO. Some businesses now accept Bitcoin as payment. Other well-known cryptocurrencies include Ethereum, Dogecoin, Ripple and Litecoin. All told, there are thousands. Bitcoin and others can be bought and sold on exchanges with U.S. dollars and other national currencies. Story continues __ WHERE DO GOVERNMENT OFFICIALS STAND? On both sides of the coin. Some lawmakers see cryptocurrency as a font of technological innovation, especially in the development of blockchain, the digital ledger that records transactions. Top U.S. regulators, on the other hand, are flashing danger signs. Gary Gensler, the chairman of the Securities and Exchange Commission appointed by Biden, said last week that investors need more protection in the cryptocurrency market, which he called “rife with fraud, scams and abuse” and “like the Wild West.” While the SEC has won dozens of cases against crypto fraudsters, Gensler said the agency needs more authority from Congress — and more funding — to regulate the market. The Federal Reserve, meanwhile, is considering developing its own digital currency pegged to the U.S. dollar. A so-called digital dollar could enable faster payments among banks, consumers and businesses. “You’ve got federal agencies not talking on the same page,” says Suzanne Lynch, a professor at Utica College who focuses on financial crime. “It’s so grey right now.” __ WHAT’S THE CONNECTION WITH THE INFRASTRUCTURE BILL? The debate over cryptocurrency landed in the middle of the Senate’s work on the massive infrastructure package. An earlier plan to pay for the legislation, by bolstering IRS enforcement to crack down on tax cheating by individuals and businesses, went down as Republicans objected to expanding the agency’s reach. That would have brought in an estimated $100 billion over 10 years. Going back to the drawing board on revenue raisers, the plan was hatched for stricter tax-reporting requirements for cryptocurrency brokers. The estimated $28 billion it would generate over a decade is only about a quarter of what the IRS crackdown proposal envisaged. But it’s still the biggest revenue raiser of several in the infrastructure bill. It raised objections from some senators and unleashed an opposition lobbying blitz from the cryptocurrency industry as well as internet freedom advocacy groups. The provision defines brokers too broadly, opponents say, potentially stifling innovation by unfairly putting new tax-reporting obligations on software developers and crypto “miners” — users who create coins by lending computing power to verify other users’ transactions and receive coins in exchange. Those people don't have access to cryptocurrency users' data the IRS would be collecting, opponents say. Opponents brought forward amendments to the provision and a compromise emerged. But it failed to muster Senate approval, pushing the debate over cryptocurrency, taxes and brokers to the House. __ WHAT’S THE SITUATION NOW WITH CRYPTOCURRENCY AND TAXES? Some cryptocurrency brokers already report transactions to the IRS, though most don’t, experts say. Brokers place buy and sell orders for users on the cryptocurrency exchanges. The exchanges are required to collect personal identifying information from users and report their annual activity to the IRS. The IRS defines cryptocurrency as “property” similar to stocks or gold. That means you pay capital gains tax when you sell it or cash it in at a profit. __ Follow Marcy Gordon at https://twitter.com/mgordonap View comments || Tesla recorded $23 million impairment connected to Bitcoin in Q2: Teslas balance sheet shows the electric motoring giant had $1.33 billion in digital assets which fell by 1.5% to $1,31 billion in the second quarter. The company also revealed it hasnt purchased any new digital assets in the second quarter after spending $1.5 billion in the first. Tesla stated the $23 million impairment was related to the value of its Bitcoin holdings and it was all reported under restructuring and other. As of the end of March, the company revealed its initial $1.5 billion investment became worth $2.48 billion based on the Bitcoin jump in the first quarter. The company also said it had $101 million of a net gain from sales of the biggest cryptocurrency in the first quarter and admitted it has helped net profit to grow to its record high. However, the company does not account for Bitcoin as a mark-to-mark asset, meaning it only recognises it if it turns to overall profit. Tesla added its revenue stood at $11.9 billion, beating analyst expectations and showing a 98% increase compared to the same period of last year. GAAP earnings per share soared by 920% year-on-year to $1.02. || Fintech Focus For July 15, 2021: Quote To Start The Day:“Once you hear the details of victory, it is hard to distinguish it from a defeat.”
Source:Jean-Paul Sartre
One Big Thing In Fintech:M1 Finance, an automated money management platform, announced Wednesday a $150 million Series E funding round to boost innovation and platform growth.
“Each funding round is proof and motivation that people believe in our mission of empowering financial well-being,” said M1 Finance founder and CEO Brian Barnes. “Financial well-being isn’t a luxury, it’s a necessity. Our platform helps people have more control, more freedom, and more power over their money. We experienced massive growth in the past year, and it’s extremely gratifying to see investors and clients believe in our vision and make it a reality.”
Source:Benzinga
Other Key Fintech Developments:
• YuLiferaisesrecord $70M round.
• Tipaltipasses$23B transactions.
• Cardlesstaps$40 for credit card.
• S&Paddscryptocurrency indices.
• IVIXsecures$13M seed funding.
• BCI looks to re-signQuantaVerse.
• Cryptonotpart of BLK strategies?
• Railsbankraises$70M for FaaS.
• Coatue co-leadsCertiK Series B.
• Verizon, Mastercardtacklefintech.
• Mosaic, Limeglasseyedigitization.
• LibertytapsXero’s tech platform.
• Mercuryexpandsuse of TT tech.
• Vanguard hasboughtJust Invest.
• KukunexpandsSoFi partnership.
• Liligrowsfreelancer fintech offer.
• MoonPaygrowingwith WorldPay.
• DeFi wallet Phantomraises$9M.
Watch Out For This:“The investor experience has never been better. Developments in market structure, advances in technology and the introduction of intense competition have resulted in vastly expanded service and product offerings to retail investors, low or no cost trading, and importantly, superior execution quality.”
Source:Doug Cifu
Interesting Reads:
• Miami condo collapse statecrisis.
• No market breadth, noproblems!
• Bitcoin ESG concernstemporary.
• Clubhousemovingbeyond audio.
• Netflix plans tooffervideo games.
• Twitter to beshuttingdown Fleets.
Market Moving Headline:Federal Reserve Chair Jerome Powell said it was still too soon to scale back the central bank’s aggressive support for the U.S. economy, while acknowledging that inflation has risen faster than expected.
Source:Bloomberg
See more from Benzinga
• Click here for options trades from Benzinga
• M1 Finance Hits .5B AUM, Announces 0M Series E Led By SoftBank Vision Fund 2
• Fintech Focus For July 14, 2021
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || BNY Debuts Active Current Income ETF: BNY Mellon is rolling out an existing mutual fund strategy as the basis of its first actively managed ETF.
TheBNY Mellon Ultra Short Income ETF (BKUI)launched on the NYSE Arca Wednesday with an expense ratio of 0.12% and $25 million in seed assets.
BKUI aims to produce monthly dividends from active management of a portfolio of government and investment-grade securities maturing between six and 12 months, with an emphasis on low volatility investments and protection during downside events.
In an email, BNY ETF Strategist Matt Camuso said the newly launched ETF is an expansion of the firm’s offerings at a time when investors are being forced to reconsider how they approach cash and short-duration investments.
“The current low rate environment is compelling clients to think more strategically as it relates to their allocation to cash,” he said.
BNY Mellon’s launch comes a few weeks after DriveWealthdebutedtwo actively managed current income ETFs of its own: theDriveWealth Steady Saver ETF (STBL)and theDriveWealth Power Saver ETF (EERN).
Contact Dan Mika atdmika@etf.com, and follow him onTwitter
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Permalink| © Copyright 2021ETF.com.All rights reserved || Parents risk criminal record to save cash on motoring: ‘Fronting’ may keep costs down – but it is insurance fraud (PA) A quarter of parents are courting a criminal record by “fronting” their children’s insurance in a bid to keep costs down, new data has revealed, as price trumps safety for the biggest concern for families of new drivers. Fronting is when an older or more experienced driver – usually a parent – claims that they’re the main user of a car that is mostly driven by a young person, or other high-risk motorists, to reduce the cost of car insurance. Research for GoCompare surveyed more than 1,000 parents of children aged between 17 and 25 who were either learning to drive or were young drivers. When asked about their child’s car insurance, almost one in four said that the insurance for their child’s car was in their – or their partner’s – name and the child was named as an additional driver. The numbers are up significantly from the one in 10 parents who admitted to fronting in 2019. More than half of all parents across the UK said that they’d consider putting themselves as the main driver to save money on a car insurance policy. However, the practice is technically insurance fraud and therefore illegal. “Unfortunately, parents are often unaware that fronting is insurance fraud and therefore illegal, so they could end up with a policy that’s null and void, as well as a criminal record,” warns Ryan Fulthorpe, motoring specialist at GoCompare. “Fronted policies are often discovered during the claims process when the insurance company will look at the details of an accident. If they find that the main driver wasn’t the policyholder, then it can mean that the parent is liable for the costs of that accident, as the insurer will try to recoup any third-party costs that it has paid out. Watch: Is a UK state pension enough to survive on in retirement? The average cost of a car insurance policy for a 17- to 19-year-old is £871.94, almost double the £450 typically paid by the average motorist. That’s largely because their inexperience, often coupled with overconfidence, makes them far more likely to be involved in an accident than motorists over the age of 25. Story continues Figures collected by the Association of British Insurers (ABI) from its members show that while drivers aged 17-24 account for only 7 per cent of the total number of drivers on UK roads, they are involved in 24 per cent of all fatal collisions. However, there are plenty of ways to legally reduce the cost of premiums, even for young drivers, the ABI suggests, and it’s not all about shopping around. The car itself is key. All cars are classified into insurance groups. In general, the bigger the engine size, the higher the insurance cost because the more powerful a car is, the more likely it is to be involved in an accident. The value of your car will also affect your premium – if it’s more expensive to replace or repair, the premium is likely to increase. Modifications are often problematic, so avoid changes to your car that aren’t safety related. Extra security features can help reduce premiums though, such as immobilisers or keeping your car in a garage or car park. Proving yourself as a responsible driver will help too. Building up a no-claims discount will help keep a lid on future premiums, as will telematics or a black box that tracks your driving, including braking habits and top speeds. Avoid penalty points on your license at all costs, imposed for dangerous actions like excess speed, driving under the influence and driving while using a mobile phone. If you really are the world’s best, safest driver despite having been behind the wheel for such a short time, then setting a higher excess is another option. This is the fixed amount you’ll pay towards reparations if you have to make a claim before the insurer will cover any outstanding costs. Young drivers often have a higher compulsory excess anyway, but adding a voluntary extra will put downward pressure on your premiums. “Never lie,” the ABI warns. “Even just making a few ‘tweaks’, such as saying your car is kept on a driveway when it is actually kept on the road, can be considered insurance fraud. “If you lie to your insurer, you risk invalidating your insurance and a criminal prosecution – and as a proven fraudster, you may struggle to get cheap insurance in the future.” Finally, the old advice about shopping around will still make a huge difference. The motor insurance industry is incredibly competitive, which is only a good thing for policyholders – even young ones. As well as the usual price comparison sites, ensure you get a range of quotes from providers which don’t pay to be listed by these aggregators and therefore only offer their products directly. An insurance broker can also be worth their weight in gold, especially if your circumstances don’t fit the typical boxes – such as your job or how you’ll use the car. Watch: What is the pension triple lock? Read More 10 ways you’re invalidating your insurance End ‘postcode paradox’ for homeless people, banks warned New RBS £50 note enters circulation celebrating ospreys and Flora Stevenson They put everything they had into Bitcoin — now this family travel the world as ‘decentralised nomads’ Nationwide to launch new current account switching incentive Average price tag on a home dipped by about £1,000 in August, says Rightmove || JPMorgan Analysts See Several Challenges for El Salvador Bitcoin Ruling: JPMorgan Chase analysts believe that there are several challenges for El Salvador and its recent policy of making bitcoin legal tender.
American multinational investment bank JPMorgan Chase believes that El Salvador’s decision to makebitcoin legal tendercould impact the Bitcoin blockchain itself. Bloombergreported onJuly 11 that a team from the bank said that the decision could impact both the country and the market’s top asset.
The JPMorgan analysts highlighted illiquidity and the nature of transaction volumes as being “potentially a significant limitation on its potential as a medium of exchange.” Should bitcoin become a common means of payment, daily payment activity would represent 4% of recent on-chain transactions, as well as over 1% of the total token value that has been transferred between wallets in the past year.
It’s hard to say how much of an impact bitcoin will have if an entire small country were to begin using it as a daily means of exchange. The scale of the operation and quickness with which El Salvador has made bitcoin legal tender has left some experts questioning the decision. Other issues related to the lawinclude public unfavorabilityregarding the effectiveness of bitcoin as a means of payment.
Others have also commented on the potential ramifications of El Salvador’s decision. The International Monetary Fund (IMF)said earlier this yearthat the country’s ruling had macroeconomic and legal issues. The World Bank has alsodenied assistanceto the country, indicating the concerns that these large financial institutions have.
The opposition party in El Salvador has alsofiled a lawsuitas a result of the passing of the bill. Government ministers have also pointed out that there would be challenges associated with making salary payments in bitcoin, given the volatility of the asset.
Despite the resistance El Salvador has faced both internally and externally, the country and its current leadership are continuing to trudge on with the new change. The most recent update involved the announcement ofa new walletthat would give users $30 worth of bitcoin after being downloaded. This app is scheduled for launch in September.
The country also plans to get into the mining game, with the current agenda being usingvolcanic energy to power mining. There has been little news on this following the initial reveal, but it appears that the government is going all-in on crypto.
President Bukele believes that the introduction of bitcoin will help with remittance payments and rope in a greater deal of the public into the banking system. It remains to be seen how much of a positive impact this change will have, and many countries are keen on seeing how the implementation pans out. || Bitcoin Logs Biggest Weekly Price Gain in 3 Months as Illiquid Supply Hits Record High: Bitcoin posted its steepest weekly gain in three months last week, and blockchain data hinting at renewed supply-side weakness indicates further advances may be in the offing. The top cryptocurrency by market cap added 12.4% in the seven days through Aug. 1, the most since the final week of April, according to Bitstamp data. It advanced 18.4% in July, snapping a three-month losing streak, and was last changing hands near $40,000. Data tracked by Glassnode show bitcoins illiquid supply, or the balance held by illiquid entities, decoupled from prices in May, signaling renewed holding sentiment. The measure reached a record high 14.447 million over the weekend. Related: Market Wrap: Bitcoin Underperforms Ether; Crypto Tax Ahead? Amount of bitcoin held by the strongest holders has retraced the whole dump and surged to [all-time high]. This is very bullish, Lex Moskovski, chief investment officer at Moskovski Capital, tweeted . The figures show investors are again holding for the long term, or HODLing, reducing the supply of coins available for sale in the market. Bitcoin supply currently is 18.77 million, or 89% of the 21 million cap. However, according to Glassnode , the actual number of coins available for trading is much lower due to increased hoarding by investors and permanent loss of mined BTC over the years. While bitcoin moved in tandem with illiquid supply from October 2020 to May 2021, it diverged in mid-May. As the chart shows, the link may now be reestablishing. A similar split occurred for several weeks before bitcoin began its meteoric rise from $10,000 in October 2020. If the illiquid supply continues to rise, a supply-side crisis may emerge, and last price years surge may be repeated. Related: What Does Last Week’s Steep Drop in Bitcoin’s Balance on Exchanges Really Mean? Other blockchain indicators also signal an impending supply squeeze, as tweeted by analysts Willy Woo and Will Clemente . Story continues From a technical analysis perspective, the bull case would strengthen once bitcoin establishes a foothold above a three-month descending trendline. The trendline hurdle is $42,464 at press time. Thats also the 38.2% Fibonacci retracement of the sell-off from Aprils high to Mays low. Also read: GoldenTree Adds Bitcoin to Its Balance Sheet: Report Related Stories A Partial Victory in the Infrastructure Bill Battle Digital Asset Funds Suffered Outflows as Bitcoin Price Recovered || PayPal ups its weekly cryptocurrency buy limit to $100,000: One way fintechs have set themselves apart from traditional banks is by embracing crypto trading. For some of the biggest names in the sector, the expansion has been a success. Take PayPal. Following in the footsteps of Square's Cash App , the company began allowing US members to buy, hold and sell Bitcoin, Litecoin, Ethereum and Bitcoin cash back in November. It followed that with the option to checkout with crypto in March and brought crypto trading to its subsidiary Venmo the following month. Now, as part of its ongoing push into digital currencies, PayPal is upping the amount of crypto users can buy to $100,000 per week and scrapping the $50,000 annual limit altogether. The expansion marks a fivefold increase to the service's crypto purchasing limit in less than a year. PayPal says it's also adding to its in-app guides and educational materials on cryptocurrency to help dispel myths around virtual currencies. In January, PayPal made an investment in US-based tech startup Taxbit , which helps consumers and businesses calculate the taxes owed on cryptocurrency holdings. The payments company has made it clear that its crypto push is about driving engagement. Speaking at JP Morgan's annual tech conference in May, PayPal CFO John Rainey said that people who have purchased crypto use the app twice as much as others. A large part of that is people checking the prices of their holdings. Rainey added that 50 percent of crypto holders use the app daily.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-04-01]
BTC Price: 46281.64, BTC RSI: 62.47
Gold Price: 1919.10, Gold RSI: 48.16
Oil Price: 99.27, Oil RSI: 45.25
[Random Sample of News (last 60 days)]
El Salvadors Bitcoin bonds not going as planned for crypto-mad millennial president: Just last November, El Salvadors crypto-mad president Nayib Bukele was rocking out at a Bitcoin conference to AC/DCs megahit You Shook Me All Night Long, as he announced a new volcano bondthe worlds first cryptocurrency sovereign-debt product, and one more step in his plan to create an entire crypto-heavy nation. Now the tempo seems less upbeat. Bukele is at loggerheads with international lenders and ratings agencies, who have warned for months that his crypto strategy could pose economic risks and raise the country's borrowing costs. He also faces deep skepticism among financial institutions. Those doubts have not appeared to ease as Bukele tries to roll out the volcano bondso named for a plan to spend half the bonds proceeds on a new bitcoin city at the foot of El Salvadors Conchagua volcano; the other half would be invested in bitcoin. The 10-year, $1-billion bond would pay 6.5% annual interest, with profits returning to investors after a five-year lock-in period. But institutional investors are skeptical. When the idea first came out, we thought it was pretty far-fetched, Kevin Daly, portfolio manager at Aberdeen Standard Investments in London, told Fortune on Wednesday. It is not something institutional investors would even consider touching. Concerns increased after Salvadoran officials appeared fuzzy on the details of the bond. "Surprising, to say the least" In a meeting in Paris earlier this month, El Salvadors Finance Minister Alejandro Zelaya told institutional investors, including Abrdn, that the bond had attracted demand was $1.5 billion, Daly says, adding: It was surprising, to say the least. But the true figure could be far lower. In an interview with the Financial Times on Wednesday, Paolo Ardoino, chief technology officer at Bitfinex, which is slated to be the tech platform for the volcano bond, said it had received half a billion dollars in interest from its usersabout a third of Zelayas estimate, though Ardoinos estimate was only from Bitfinex customers. The bigger concern among investors is the countrys apparent rift with international leaders. The IMF has pushed Bukele for months to scrap its use of bitcoin as legal tender, saying in a report in January that it entails large risks for financial and market integrity, financial stability and consumer protection. Daly says there is unease among the countrys creditors; El Salvadors $800-million Eurobond matures next January. The market is basically saying, youre at high risk of default, he says. It is something everybody is talking about. Story continues Pricey remittances That was not meant to be. Among Bukeles main motivations in declaring bitcoin legal tender was to make cross-border money transfers simpler and cheaper. That is crucial for El Salvador, about 24% of whose GDP is made of remittances from relatives working abroad. A World Bank report last year estimated that Salvadorans lose about 7.88% of their remittances from the U.S. simply by using services like Western Union . Within a month after bitcoin tender began, last September, Bukele tweeted that three million Salvadoransabout half the countrywere now using the national crypto wallet Chivo, withdrawing it in cash from special ATMs. Chivos website says it allows people to save millions of dollars in remittances by using bitcoin, and that foreign investors buying bitcoin can boost the countrys economy. There are no intermediaries, there are no commissions. This story was originally featured on Fortune.com View comments || Short-Term Riot Blockchain (RIOT) Call Spread For Bitcoin Breakout: I presented a couple of highly-liquid naked call option contracts to take advantage of Riot Blockchains RIOT momentum-fueled rally following a blow Q4 report on Friday (3/18). Today (3/25), after a period of post-earnings volatility abatement, Ive got a bullish spread with an upside volatility kick that will provide you with a leveraged opportunity on an upside move along with downside protection. The Fallibility Of Fiat Currencies The fallibility of fiat currencies has been brought to the forefront of the financial markets, with economists convinced that the Federal Reserve let inflation run too hot for too long and geopolitical uncertainty reaching a 2-decade peak as Putin invades its former ally on the western front. Bitcoin (BTC), also known as Gold 2.0, and the novel fiat currency alternative it offers with its decentralized blockchain has never looked more attractive to financial institutions. Investors are wrestling with the hard truth that fiat currencies are far less safe than we think and that cash under your mattress will do nothing but lose value over time. The 40-year high inflation pace that weve reached is causing that uninvested cash to lose value at an accelerating pace. Cryptocurrencies will be a part of our new economy whether you like it or not, and it would be prudent to invest today before their mass adaptation. Riot Blockchain, one of the worlds largest Bitcoin miners, is a perfect way to take advantage of rocketing bitcoin price in an excellent short-term momentum-fueled options trade. Bitcoin, which underpins RIOTs daily high-beta price action, is finally looking like its materially broken out back above its 50-day moving average (which itself is reversing its trend after a 3-month tailspin). Impending institutional demand is swelling in the wake of Bidens crypto-focused executive order, a rare case where more regulation is a positive sign for an asset class as it only further legitimizes this increasingly lucid digital currency space as the fallibility of the worlds 180+ distinct fiat currencies become more evident than ever. Story continues After a tremendous forward-looking quarter of profitable progress coupled with reviving Bitcoin demand, total open interest (the number of open contracts) on the call side of RIOTs option chain is surging as more and more traders place bullish bets. The Trade RIOTs option opportunities are ripening as contract liquidity improves across strike prices and expirations. I am looking at a short-term trade (<1 month) to take advantage of near-term momentum and RIOTs post-earnings IV compression with options contracts pulling volatility out of the premium. The trading strategy that I am employing here is called a call ratio backspread , which involves selling a single lot of in/at-the-money call options while buying 2x/3x as many out-of-the-money calls at the same expirations with a strike price that you deem as more than attainable within the contracts life cycle. This bullish ratio backspread allows one to generate an immediate account credit and limit downside while leveraging the upside potential to an increase in the stocks volatility (unfortunately, this spread works in the opposite direction when IVs decline). Call Ratio Backspread For RIOTs April 14 th 2022 Expiration: Buy 2x $25 Call @ $0.75 Sell 1x $21 Call @ 2.10 Collect an immediate $60 credit from the transaction while likely risking only about $100. Though, a max loss of -$340 is possible if held till expiration and RIOT closes on the dot at $25 prior to Good Friday weekend (4/14), which I deem to be extremely unlikely considering its history of borderline-egregious volatility with the breakeven levels at expiration being $21.60 & $28.40. Below is a daily payout breakdown (from today to exp.), assuming no changes in underlying volatility. Option Profit Calculator Image Source: Option Profit Calculator And here is the payout assuming a 25% increase in its currently inhibited IV (which I view as likely considering its current IV is nearly half of its average). Option Profit Calculator Image Source: Option Profit Calculator The probability of profitability on this trade is elevated with volatility. At the current levels of volatility, this trade has a 62.2% chance of generating a positive return (which could be north of $1k per spread). Im more bullish than ever on RIOT, with Bitcoin breaking out on the heels of bullish regulation coupled with another solid quarterly report. Riot Blockchain continues to prove its ability to rapidly expand operations, take market share, and persistently outpace its aggressive guidance. 12-month price targets are sitting between $30 and $50 a share, with most of these price targets made under the assumption that Bitcoin continues to trade at $40k. Meaning that if you are bullish on Bitcoin this upside could be significantly greater. The Business Riot Blockchain, now one of the world's largest publicly traded bitcoin miners following its recent acquisition of Whinstone US, is positioned to provide us with the rare and exciting opportunity to profit off the resurging crypto market's already prolific rally. Trillions in value is yet to be added to this legitimizing asset class as institutional investors (the big money) begin to deploy capital into this ambiguous market. The opportunity cost of not being a part of this rapidly appreciating asset class is just too great not to have some exposure. RIOT, which is closely tied to the performance of bitcoin, had initially overshot the crypto rally in the first month and a half of the year as momentum chasing traders such as the (self-proclaimed) "degenerates" on r/WallStreetBets drove this leading miner's shares far above their intrinsic value. RIOT surged as much as 385% at the beginning of 2021, but its momentum-driven valuation bubble has since deflated. The stock is now trading over 80% below its overzealous highs to the value trading opportunity we see today. All 8 of the covering sell-side analysts call RIOT a strong buy as of this writing, with an average price target of $44 a share, with some more bullish analysts giving it targets north of $50. The China Growth Catalysts U.S. cryptocurrency miners were given one of the greatest gifts they could have asked for when China and President Xis increasingly autocratic regime announced a reinforced ban on crypto mining earlier this year. At the end of 2020, China controlled roughly 70% of the global bitcoin mining market, which is measured using hash rates. Hash rates are the speed at which cryptocurrencies are mined (attained through machine-based problem solving) and represent a measurement of computing power and efficiency (performance) of both individual and total market operations. The strict crypto mining banned in Asias largest economy created a massive market hole, which U.S. miners like Riot Blockchain quickly filled. The U.S. is now the leading bitcoin miner by hash rate, controlling over 35% of this market, according to Cambridge Bitcoin Electricity Consumption Index (CBECI). Riot Blockchain currently controls 12% of the U.S.'s highly fragmented bitcoin mining market and is taking more share on a seemingly daily basis, with guidance indicating a controlling market share of more than 20% by the end of 2022. This blockchain innovator's hash rate has more than quadrupled in the past year. Riot's savvy management team is projecting its hash rate will reach 12.8 EH/s (quadrupling its output in a matter of months) by the end of the year, marking its third increase in just a few months (materially above the initial guidance of 7.7 EH/s). Its recent acquisition of Whinstone (the largest crypto mining facility in the U.S.) is the primary catalyst for its rapidly improving economies of scale-driven forecast. Crypto Mining & Hash Rates Cryptocurrency mining, contrary to what your intuition tells you, is the process of verifying new transactions made with a given digital currency, and in turn, being rewarded for this act with new coins. Verifying a transaction involves immense computing power to validate each node on a blockchain network and an accurately updated ledger (a new block in the chain). This crypto-mining process is referred to in the cryptographic world as Proof-of-Work (PoW), which Bitcoin (the most heavily mined and leading cryptocurrency on the market) and Ethereum both employ. The practice of mining Bitcoin is often described to laymen as solving a highly complex math problem, and the computers that help find the solution are awarded newly minted Bitcoin. In reality, its a speed-driven guessing game to decrypt a random code, with the fastest computers being the most successful. Mining is a necessary operation to ensure the security of Bitcoins (or any other PoW digital currencys) blockchain network, and the more miners the more secure the coin. The caveat here is that Bitcoin is becoming incrementally less lucrative to mine, with 90% of the coins (roughly 19 million) having already been mined and only 2 million of these digital coins are left to be mined (expected to be mined by 2040), and incremental PoW rewards are slowly dwindling. Furthermore, the costs associated with mining bitcoin (energy and processing power) are extremely high and only provide profits when the cryptocurrency is trading above a threshold price. Crypto mining is all about scale, with just a few operators controlling most of this market. Miners market share is represented by hash rates, which signifies the computing efficiency of the business). The higher the hash rate the more nodes that can be verified per second, meaning that hash rates and mining efficiency are directly correlated. Unfortunately, this positive hash rate correlation is also a factor of energy usage (higher hash rates require more energy). Hash rates are measured in seconds (hash per second or H/s), and you will often see kH/s, MH/s, or even EH/s, which are in terms of 1,000 hashes per second, 1 million hashes per second, or 1 quintillion hashes a second, respectively. The total global Bitcoin mining market has a hash rate of 120 EH/s, with U.S. miners controlling more than 1/3 rd of it after Chinas recent regulatory-fueled exit from crypto mining. Energy Concerns There has been growing attention surrounding the excessive use of energy required to power bitcoin mining facilities. Elon Musk is the most notable character voicing concerns about the use of fossil fuels to power digital asset mining operations, deciding to halt Tesla's bitcoin usage earlier this year because of it. Energy is also the most significant variable cost for blockchain-based enterprises like Riot, so it's central to assessing an investment in this unique space. Riot's primary operations are in Texas, ironically one of the cleanest and cheapest energy states (considering it's the oil capital of the U.S.). The Electric Reliable Council of Texas (ERCOT) powers one of the few deregulated energy markets with a vast competitive push towards inexpensive and sustainable sources. Wind and solar make up nearly 30% of the ERCOT market's energy capacity, with relatively lower-carbon natural gas generating just over half. Free-market energy in Texas provides Riot with relatively inexpensive variable costs from increasingly clean sources. Final Thoughts on Riot Like it or not, bitcoin is here to stay, and it's time to get some portfolio exposure if you haven't already. RIOT presents us with a unique opportunity to acquire bitcoin exposure at a sizable discount as its underlying profit driver takes flight and its controlling market share proliferates. RIOT has a significant competitive advantage in a market where scale means everything, with its recent acquisition of Whinstone leapfrogging its hash rate expansion. I would jump on this trade today before the window of opportunity for this rare high-growth value-play disappears. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Riot Blockchain, Inc. (RIOT) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Sterling rises against the dollar, gold steadies at $2000: Sterling pushed higher against the greenback amid improved investor sentiment. Photo: Getty (Peter Dazeley via Getty Images) Sterling ( GBPUSD=X ) has risen against the dollar for the first time in five days moving just above the pre-Brexit lows it touched during the previous sessions as the need for safe havens wanes. The pound surged 0.5% against the greenback to $1.316 as the safe haven's rally triggered by Russia's invasion of Ukraine paused as spot gold ( GC=F ) price stabilised. The metal neared a record high on Wednesday, rising 2.3% to $2,040 a troy ounce, before steadying to $2,000 (£1,520). Gold's movement came as bitcoin ( BTC-USD ) increased in value in a surprise twist on the eve of Washington's planned regulatory overhaul of the crypto industry. The main crypto's market capitalisation jumped 6.5% to $1.91trn as US president Joe Biden is poised to sign a highly anticipated executive order. It was up 0.8% to $42,213 at the time of writing. Meanwhile, sterling, which has been propped up against the euro ( GBPEUR=X ) in recent weeks thanks to differing monetary policies from the European Central Bank (ECB) and the Bank of England (BoE), slipped 0.2% to 83.39p against the common currency. The euro ( EURUSD=X ) also staged a comeback against the dollar after dipping below the key levels last week to under $1.10 for the first time since May 2020. It was up over 0.6% against the dollar at the time of writing. Read more: Stocks rebound as EU says it has enough gas for winter The ECB is due to make its decision on interest rates on Thursday, while the BoE's Monetary Policy Committee meets next week. Both central banks are facing the challenge of combatting rising inflation while the conflict in Ukraine also threatens to dent global growth. The pound bounced back from session lows it hit earlier this week. Chart: Yahoo Finance It comes after the pound sank to its lowest level against the dollar since December 2020 on Monday. It fell as low as low as $1.314, a level not seen since before Britain finalised its exit from the European Union. The greenback has been the favoured currency of the world, especially as the Federal Reserve took a more hawkish stance recently, signalling an interest rate hike in March as inflation soars above the desired 2% rate in the US. Story continues Fed chair Jerome Powell said last week : "I am inclined to propose and support a 25 basis-point rate hike," Powell added. "To the extent that inflation comes in higher or is more persistently high than that, then we would be prepared to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings." Read more: Bitcoin rallies over $42k despite US regulation threat Analysts are expecting a prolonged financial and commodity market volatility as the war enters the second week after Russia responded to import bans by imposing an export ban on some goods and raw materials. "This is likely to be typical of market moves from here on in as the ebb and flow of headline risks continues to pull markets this way and that," said Michael Hewson, chief market analyst at CMC Markets. The Kremlin is a major exporter of gas, grain and metals, and commodity prices have soared since the invasion of Ukraine on the prospect of supply disruptions, sanctions and counter-measures. Wheat, aluminium ( ALI=F ), palladium ( PA=F ) and nickel prices climbed after the order was released. Nickel prices in China soared to a record high after trading of the commodity was suspended in London. The price of the metal, which is used in stainless steel and lithium-ion batteries, rose 17% to hit a record of Rmb267,700 ($42,381, £31,261) a tonne on Wednesday. Watch: How does inflation affect interest rates? || Coinbase Could Reportedly Buy Mercado Bitcoin’s Parent Company: • Coinbase could reportedly acquire Brazilian Giant 2TM.
• 2TM is valued at $2.2 billion and is Latin America’s largest crypto brokerage.
• Crypto adoption saw a boom in Brazil as stablecoin trading tripled in 2021.
Americancryptocurrencyexchange platformCoinbaseGlobal is in conversation to acquire 2TM, the firm behind MercadoBitcoin– Brazil’s largestcryptoexchange.
A Brazilian newspaper Estadãoreportedon Sunday that negotiations between Coinbase and 2TM have been taking place since last year, and an agreement could be announced by the end of this month. No sources have been cited for now.
Estadão is the third-largest newspaper read by almost 212 million Brazilians. In 2021, Mercado Bitcoin had 3.2 million customers, with close to 1.1 million added just last year. Furthermore, the firm reached $7 billion in trading volume in 2021.
Mercado Bitcoin is one of Latin America’s largest crypto brokerages, owned by 2TM. It got its unicorn status as a billion-dollar company in 2021. 2TM is valued at $2.2 billion, and acquired firms like Meubank, MB Digital Assets, CriptoLoja, Bitrust, Blockchain Academy, MezaPro, Wuzu, and Portal do Bitcoin under its umbrella.
Furthermore, 2TM aims to expand its operations in Latin America through acquisitions in Argentina, Chile, Colombia, and Mexico. Earlier this year, the Brazilian giant acquired a controlling stake in CriptoLoja – Portugal’s first regulated crypto exchange.
2TM raised $200 million in a Series B funding round and $50 million in a second closing of the funding in November last year. The funding rounds in 2021 took the firm’s value to $2.1 billion.
As crypto adoption across the globe and in Brazil continues to rise, enterprises are turning their eyes towards Latin American countries. Notably, the Brazilian crypto adoption boom tripled stablecoin trading in 2021 as global exchanges such as Coinbase,BinanceandCrypto.comturned their eyes to the Latin American country.
In November last year, Coinbase announced the creation of an engineering hub in Brazil and announced the expansion of its team in the country.
One of the most retail-friendly exchanges, Binance, plans to acquire banks and payment processors in Brazil. Recently, the firm signed a Memorandum of Understanding (MoU) to acquire Brazilian securities brokerage Sim;paul Investimentos.
It is also reported that Coinbase also identified Mexican crypto exchange Bitso as an acquisition target. Still, no deals have been made for now.
Thisarticlewas originally posted on FX Empire
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• Why Tesla Stock Is Up By 8% Today || everbowl Corporate Team Can Bank on Bitcoin: CEO Jeff Fenster Goes All-In
everbowl Founder and CEO Jeff Fenster
SAN DIEGO, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Corporate employees of everbowlTM, the California-based craft superfood restaurant chain (www.everbowl.com), cash in on the company's new Bitcoin Savings Plan. Following everbowl's recent announcement that it has adopted the Bitcoin (BTC) Standard, the company will offer corporate-level employees the option to receive a portion or all their pay in Bitcoin.
"We are proud to be at the forefront of exploring how Bitcoin can be used as an alternative savings vehicle for our corporate employees," explains founder and CEO Jeff Fenster (@fensterjeff).
The plan, slated to launch in March 2022, allows corporate workers to take as much of their earnings in each pay period as they want in Bitcoin. Fenster will be leading by example, opting to collect his salary in Bitcoin.
"The highest U.S. inflation rate in four decades and the excessive debasement of the U.S. dollar have contributed to everbowl's move to become an early adopter of the Bitcoin Standard at the corporate level," Fenster said. "These situations affect our employees as well, and our position as a high-growth company allows us to be innovative in providing opportunities for our employees to be successful."
About everbowl™
Established in 2016, everbowl™ is a Southern California-based quick-serve restaurant chain with over 50 locations in California, Arizona, Florida, Georgia, Indiana, Missouri, Nevada, Oregon South Carolina, Texas, and Utah, with plans to open an additional 130+ locations over the next 36 months in Colorado, Idaho, Louisiana, Texas, North Carolina, and more. The everbowl menu offers a selection of Local Favorite pre-set bowls or the renowned Whatever Bowl™, the build-your-own craft superfood bowl featuring acai, pitaya, matcha, blue majic, vanilla, chia pudding, coconut, cacao, and chewy as the base ingredient options along with unlimited fresh fruit toppings and healthy super stuff add-ins. Through a growing footprint of retail locations and CPG product extensions, everbowl encourages consumers to "Unevolve™" — to live actively and eat "stuff that's been around forever™." Franchise opportunities are available. Visithttps://www.everbowl.com/franchise.
Follow us on Facebook(@everbowl) and Instagram(@everbowlcraftsuperfood).
Media Contact:Kate MorganPhone: 760.330.9001Email:marketing@everbowl.com
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Image 1: everbowl Founder and CEO Jeff FensterJeff Fenster in front of everbowl store
This content was issued through thepress release distribution service at Newswire.com.
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• everbowl Founder and CEO Jeff Fenster || Facebook should focus on bitcoin, says Twitter founder: Twitter co-founder Jack Dorsey stepped down as CEO of the social media giant in November 2021 to focus on crypto-related ventures (AFP via Getty Images) Twitter founder Jack Dorsey has said Meta (formerly Facebook ) should focus on bitcoin after it failed in its attempt to launch a global cryptocurrency . Meta officially abandoned its Diem project after four years this week, with those behind it blaming pushback from regulators and “the behaviour of certain politicians”. Follow our live coverage of the crypto market Speaking at the Bitcoin for Corporations event on Tuesday, Mr Dorsey said Diem “wasted effort and time” and distracted from the existing solution for a native internet currency. “This whole thing with Libra and then Diem, I think there’s a ton of lessons there. Hopefully they learned a lot, but I think there was a lot of wasted effort and time,” he told MicroStrategy CEO Michael Saylor. “Those two or three years, or however long it’s been, could’ve been spent making bitcoin more accessible for more people around the world... We have this open network right now. And it’s usable. It’s not accessible to everyone, but it’s usable.” The Twitter co-founder left his role as CEO of the social media giant last year to focus on crypto-related ventures, most notably his payments company Block (formerly Square). Block’s popular Cash App platform recently integrated the bitcoin Lightning Network, allowing its millions of users to send BTC for free to anyone around the world instantly. Here's to yet another chapter with a maybe more "acceptable" promoter driving the vision forward. There will be ample time in the future for me to properly reflect on the behavior of certain politicians and regulators along the way, but for now... onward! — David Marcus - dmarcus.eth (@davidmarcus) January 31, 2022 Mr Dorsey also set up TBD, a platform designed as an “on-ramp” to enable more people around the world to acquire bitcoin and become involved in the crypto economy. “We’re now the closest we’ve ever been to having a native currency for the internet, which for me changes everything,” he said. “The easier we make it, the faster we make it, the more approachable we make it, it’s going to better everything, including everything Facebook intended to do with Diem.” || FOREX-Dollar firms, yen holds near lowest since 2015: (Updates prices, adds comment)
By Elizabeth Howcroft
LONDON, March 24 (Reuters) - The dollar strengthened, with the Japanese yen sinking to its lowest since 2015, as the Russia-Ukraine conflict and expectations of central bank tightening kept investors cautious.
Equity markets were volatile, with European stocks slipping, following more hawkish comments from the U.S. Federal Reserve on Wednesday.
Fed policymakers signalled that they could take more aggressive action to bring down inflation, including a possible half-percentage-point interest rate hike at the next policy meeting in May.
The Japanese yen fell against the U.S. dollar for the fifth session in a row, hitting its lowest since 2015 with the Bank of Japan expected to lag policy tightening by other major central banks.
At 1248 GMT, the dollar was up 0.4% on the day versus the yen, at 121.66.
Versus a basket of currencies, the dollar was up 0.2% , trading within recent ranges.
“Market participants and investors around the world are still moving into dollars on the basis that (the Fed) will be the most aggressive or the most hawkish in terms of raising rates," said Neil Jones, head of FX sales at Mizuho.
Jones said that the combination of Fed rate hike expectations and the war in Ukraine were a "perfect storm" for dollar gains. He expects the dollar-yen pair to rise to 125.
Western leaders meeting in Brussels on Thursday will agree to strengthen their forces in Eastern Europe and increase military aid to Ukraine as the Russian assault on its neighbour entered its second month.
In the latest jolt to global energy markets, Russian President Vladimir Putin said that it would soon require "unfriendly" countries to pay for their fuel in Russia's currency, the rouble. German utilities association BDEW warned of a gas crunch.
The euro was down 0.2% on the day at $1.09785.
Euro zone business growth was stronger than expected this month, a survey showed on Thursday, although prices rose at a record pace, likely adding to pressure on the European Central Bank to raise rates.
Versus the Swiss franc, the euro was down 0.2% at 1.02265, after the Swiss National Bank held its policy rate at -0.75%, bucking the trend of other central banks which have started hiking interest rates to tackle rising inflation.
The SNB said the franc remains highly valued and that it will remain active in foreign exchange markets as necessary.
Norway's central bank raised its benchmark interest rate on Thursday as expected, and said it now planned to hike at a faster pace than previously intended.
The Norwegian crown initially slipped following the decision, before continuing its strengthening trajectory. The euro was down 0.9% on the day versus the crown at 9.47 .
Commodity currencies slipped, with the Australian dollar down 0.1% on the day at $0.79151. The New Zealand dollar was down 0.4% at $0.695.
Bitcoin was a touch lower, at around $42,850.
(Reporting by Elizabeth Howcroft; Editing by Emelia Sithole-Matarise and Jonathan Oatis) || Mutual Of America Capital Management Llc Buys iShares 10 Year Investment Grade Corporate Bond ...: New York, NY, based Investment company Mutual Of America Capital Management Llc ( Current Portfolio ) buys iShares 10 Year Investment Grade Corporate Bond ET, General Electric Co, iShares MSCI Emerging Markets ex China ETF, UBS Group AG, Alcoa Corp, sells iShares MSCI EAFE ETF, BTC iShares Core MSCI EAFE ETF, Vanguard FTSE Developed Markets ETF, BTC iShares MSCI EAFE Growth ETF, BTC iShares MSCI EAFE Value ETF during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Mutual Of America Capital Management Llc. As of 2021Q4, Mutual Of America Capital Management Llc owns 1640 stocks with a total value of $9.9 billion. These are the details of the buys and sells. New Purchases: IGLB, GE, EMXC, UBS, AA, CHKP, BRKR, AIP, ATKR, VSCO, CHK, SITM, BBWI, FOUR, SPWR, GLPI, MDB, PLAN, CARS, THRY, HRMY, FBRT, FBRT, CIVI, CIVI, CDMO, TSE, LYLT, ONL, DOUG, CATH, NVEE, OPRX, Added Positions: LQD, CCMP, KBR, VOYA, M, WU, GBCI, LXP, HOMB, EPAM, NXRT, KRG, LEG, POWI, RRX, HBI, COHU, PDFS, XPEL, GDOT, REGI, NSTG, EPRT, KD, CADE, CADE, CERN, EQT, LHCG, LPSN, O, VICR, KALU, FIBK, SIEN, ZUO, DTM, T, CTRA, CPT, CCF, CNMD, CR, DLX, EEFT, FSS, ILMN, INTU, JNJ, MKSI, SLP, LSI, SYNA, TDY, XPER, THS, WERN, GTLS, EBS, ULTA, SATS, NOG, CDNA, CCXI, VAC, ZNGA, REXR, ESNT, UNVR, SPNE, OLLI, BAND, SAIL, CDLX, UPWK, LTHM, PING, AZEK, EBC, DDD, EGHT, AAON, AIR, ABM, ALE, AMSF, AMN, AZZ, AKR, EPAC, RAMP, NSP, ADTN, AGYS, ADC, ALG, AIN, ARE, ATI, ADS, AMED, AXL, ACC, AEO, ECOL, AEP, AFG, TVTY, AWR, AVD, AMWD, THRM, ABCB, AMKR, ANDE, ANGO, ANIK, AIRC, APOG, AIT, ATR, WTRG, ARCB, MTOR, ABG, ASH, ASTE, ATNI, ATO, AVT, ACLS, BJRI, BMI, BCPC, BOH, B, BHE, BHLB, BIO, BLFS, OPCH, BCRX, ANIP, BKH, AX, SAM, BYD, BRC, EAT, AZTA, CAL, BKE, CEVA, CSGS, CTS, CVBF, CBT, HLX, CALM, CAMP, CVGW, CWT, ELY, CPE, CFFN, PRDO, CSL, CCL, CRS, CASY, CATO, CVCO, CNP, CENT, CPF, CENX, CAKE, CHS, PLCE, CHH, CIEN, CIR, CTXS, CLH, CLF, COKE, CGNX, COHR, COLB, FIX, CMC, NNN, CBU, CYH, CMP, CPSI, CMTL, CONN, CNSL, CRVL, CLB, OFC, CXW, WOLF, CCRN, CCK, AORT, CFR, CUTR, LIVN, CYTK, DBI, DAR, ATGE, SITC, DRH, DBD, DGII, DLR, DIOD, DISCA, LCII, DRQ, BOOM, SSP, EZPW, EGBN, EWBC, EBIX, ENDP, EPC, EPR, PLUS, ETD, EXEL, EXPE, EXTR, FNB, FCN, FARO, FBP, FBNC, FCFS, FCF, PACW, FR, FMBI, BANC, FBC, FLO, FLS, FLR, FL, FORM, FORR, FWRD, FOSL, FDP, GIII, GATX, GME, AJRD, GCO, GNW, GTY, ROCK, GT, GGG, GVA, ITGR, GBX, GEF, GFF, GPI, GES, FUL, HNI, HAE, HAIN, HAL, HNGR, HAFC, THG, HOG, HLIT, HSC, HE, HA, HWKN, WELL, HSTM, HR, HCSG, EHC, HTLD, HSII, HELE, HP, MLKN, HT, HSKA, HXL, HIBB, HFC, HMN, SVC, HUBG, HUBB, MTCH, ICUI, DIN, IDA, INDB, BCOR, NSIT, IIIN, IART, IPAR, IDCC, TILE, SNEX, IBOC, ISBC, CSR, ITRI, JJSF, ZD, VIAV, JACK, JBLU, JBSS, JW.A, KAMN, KELYA, KMT, KRC, KIM, KEX, KNX, KLIC, LTC, TBI, LKFN, LAMR, LANC, LSTR, LSCC, LGND, LNN, LAD, LFUS, LYV, MDC, MHO, MDU, MGPI, MSM, MAC, VRE, MGLN, MANH, MAN, MCS, HZO, MRTN, MTZ, MAT, MATW, MPW, MED, MERC, MRCY, MCY, VIVO, MMSI, MTH, MLAB, CASH, MEI, MCHP, MIDD, MSEX, MSA, MOH, MCRI, MNRO, MOG.A, MPAA, MUR, MYE, MYGN, NBTB, NCR, NBR, FIZZ, NFG, NOV, NPK, NTUS, NP, NBIX, NJR, NYCB, NYMT, NYT, NDSN, JWN, NWBI, NWN, NWE, NUVA, OGE, OSIS, OII, IOSP, OIS, ONB, ORI, ZEUS, OHI, OSUR, OFIX, OSK, OMI, OI, CNXN, GLT, PNM, PSB, PPBI, PKE, PRK, PATK, PDCO, PTEN, MD, PENN, PKI, PRGO, PETS, PLAB, PPC, PNFP, PIPR, PBI, POLY, PII, POWL, PFBC, PBH, PSMT, RDNT, PRA, PRGS, MODV, PFS, STL, PEG, KWR, NXGN, QDEL, DORM, RES, RPM, RMBS, RPT, RYN, RRGB, RWT, REG, RNST, RGEN, RGP, REX, ROG, RGLD, ONTO, RUTH, R, STBA, SPXC, SAFT, CRM, SAFM, SANM, BFS, SCSC, SCHL, SWM, SGMS, SMG, SBCF, XPO, DHC, SXT, SHEN, SCVL, SIG, SLGN, SFNC, SKX, SKYW, SON, SJI, SBSI, SWX, SPTN, SPPI, JOE, SM, SMP, SXI, SRCL, STC, STRA, RGR, SRDX, TTWO, SKT, AXON, TECH, TTEC, THC, TNC, TEX, TCBI, TXRH, TBBK, GEO, INVA, THO, TWI, TMP, ACIW, TG, TREX, TGI, TRST, TRMK, USPH, UGI, UCTT, UNF, UFI, UIS, UBSI, UCBI, UDR, UFCS, UNFI, X, UTHR, UTL, KMPR, UVV, OLED, UHT, UNM, URBN, UBA, VLY, VMI, OSPN, VGR, VECO, VTR, VVI, VSH, WDFC, WSFS, WNC, WRE, WSO, WTS, WBS, WW, WABC, EVRG, WDC, WGO, WTFC, WETF, WWW, WRLD, INT, WEX, XRX, ZYXI, AAWW, HAYN, UVE, KOP, LQDT, GPRE, VNDA, POR, VG, CSII, PGTI, TNL, EHTH, LMAT, EXLS, DEI, SBH, FSLR, WLDN, ALGT, AVAV, EIG, CENTA, CNK, DAL, IBKR, ACM, TTGT, BGS, JAZZ, G, MASI, AROC, LL, ENSG, APEI, TWO, ROIC, ARR, APPS, CELH, AMEH, HI, IRDM, NX, CFX, MYRG, HCI, DISCK, JBT, CLW, FF, VRTS, OPI, IVR, SEM, LOCO, PMT, ADUS, RILY, AMPH, ARI, LEA, PEB, KRA, CIT, QNST, CLDT, SPSC, FAF, SIX, HPP, FN, CPS, ENV, WSR, VRA, SBRA, TRGP, FRC, WD, AAT, PCRX, VC, INN, MOS, AMCX, SXC, CHEF, ACHC, LPI, TRIP, PARR, CUBI, SLCA, MTDR, POST, PRLB, SPLK, NOW, CHUY, GMED, SRC, QLYS, PLAY, RLGY, SSTK, RH, ALEX, PBF, CONE, RC, BCC, ENTA, IBTX, EVTC, AHH, COTY, NWSA, DOC, IRT, SPNT, AMBC, RMAX, BRX, MMI, NMIH, TNDM, OGS, CARA, GCI, IBP, INGN, QURE, KN, PCTY, PAHC, SABR, LPG, SFBS, CTRE, DNOW, CCS, RYAM, TMST, TRUP, LNTH, CTLT, HQY, VBTX, GWB, BOOT, AVNS, JYNT, TBK, ENVA, STOR, JRVR, QRVO, UE, SHAK, DEA, VSTO, XHR, NSA, UNIT, CHCT, GNL, WING, CABO, ENR, BLD, GKOS, ALRM, KHC, RUN, BNED, RGNX, PEN, FLOW, PFGC, ABTX, MIME, FCPT, GCP, UA, GMS, KNSL, FHB, SMPL, FBK, ASIX, ELF, DFIN, FLGT, TRHC, ADNT, LW, IIPR, ROCC, ROCC, ROCC, ICHR, ORGO, PK, VREX, PUMP, HCC, AM, KREF, IR, SGH, SAFE, BKR, CEIX, NVT, CDAY, TALO, WH, ARLO, REZI, ETRN, MRNA, CVET, PLMR, KTB, IAA, GO, NVST, CRNC, PNTG, SLQT, VTOL, VNT, CNXC, SLVM, IJH, IJR, Reduced Positions: VCSH, SBNY, FDS, SEDG, WIRE, OXM, IWO, SWN, IEMG, VWO, FOE, WSM, BLDR, EXPO, NKTR, PLXS, WWE, VVV, BHVN, ACA, PGNY, DVN, NTCT, PGR, SYBT, TDS, KAR, ADI, BAC, BBBY, CAR, KLAC, MLI, NRG, ODFL, PRFT, RELL, SYY, TSN, UFPI, UHS, VSAT, WFC, HEI.A, TREE, PRI, CPRI, MC, RPD, LITE, RRR, SILK, CCSI, ANF, AAP, ALL, CRMT, AXP, AIG, AMP, AON, APA, ARW, AIZ, AGO, AN, AZO, BK, BBY, BIG, CSX, COF, CAH, CRI, CE, LUMN, CI, C, TPR, CMA, DXC, COP, CNO, CNX, STZ, CORT, CW, DVA, DLTR, EXP, EMN, ECPG, FICO, IT, LHX, HPQ, HUM, HBAN, IFF, IPG, KBH, KEY, KSS, LRCX, LNC, LPX, LOW, MTG, MGM, MAS, MET, MHK, MS, NVR, NTGR, NTAP, NEU, NEM, NOC, NUE, ORLY, ORCL, OFG, PPL, RL, PRAA, PRU, PHM, RRC, ROK, SLM, STX, SNBR, SRE, SNA, STLD, TGT, TXT, TR, VRTX, VNO, WAFD, WHR, WTW, ZION, EBAY, IRBT, CROX, PRG, OC, LOPE, FTNT, CHTR, FLT, BKU, HCA, MPC, FBHS, COOP, BFAM, NAVI, SYF, CDK, BSIG, TWLO, BHF, DOW, AAN, IVV, IWR, Sold Out: EFA, IEFA, VEA, EFG, EFV, VPL, VGK, IEUR, IPAC, HRC, COR, STMP, XLRN, KSU, BMTC, XENT, MGNI, NVTA, MRAM, ALLK, ELS, PSN, ORTX, AAOI, CADE, CADE, RPAI, ECHO, RGS, RAVN, MDP, MDP, MTRX, IVC, UFS, DAKT, DSPG, CMO, Story continues Warning! GuruFocus has detected 7 Warning Signs with CCMP. Click here to check it out. CCMP 15-Year Financial Data The intrinsic value of CCMP Peter Lynch Chart of CCMP For the details of MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC's stock buys and sells, go to https://www.gurufocus.com/guru/mutual+of+america+capital+management+llc/current-portfolio/portfolio These are the top 5 holdings of MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC Apple Inc ( AAPL ) - 2,123,876 shares, 3.82% of the total portfolio. Shares reduced by 0.3% Microsoft Corp ( MSFT ) - 1,024,028 shares, 3.49% of the total portfolio. Shares added by 0.32% iShares iBoxx USD Investment Grade Corporate Bond ( LQD ) - 1,578,140 shares, 2.12% of the total portfolio. Shares added by 10.27% Amazon.com Inc (AMZN) - 58,292 shares, 1.97% of the total portfolio. Shares added by 0.71% Alphabet Inc (GOOGL) - 39,719 shares, 1.17% of the total portfolio. Shares added by 0.54% New Purchase: iShares 10 Year Investment Grade Corporate Bond ET (IGLB) Mutual Of America Capital Management Llc initiated holding in iShares 10 Year Investment Grade Corporate Bond ET. The purchase prices were between $67.74 and $71.16, with an estimated average price of $69.55. The stock is now traded at around $65.290000. The impact to a portfolio due to this purchase was 0.14%. The holding were 201,410 shares as of 2021-12-31. New Purchase: General Electric Co (GE) Mutual Of America Capital Management Llc initiated holding in General Electric Co. The purchase prices were between $89.98 and $111.29, with an estimated average price of $100.68. The stock is now traded at around $98.320000. The impact to a portfolio due to this purchase was 0.14%. The holding were 144,938 shares as of 2021-12-31. New Purchase: iShares MSCI Emerging Markets ex China ETF (EMXC) Mutual Of America Capital Management Llc initiated holding in iShares MSCI Emerging Markets ex China ETF. The purchase prices were between $57.75 and $61.4, with an estimated average price of $60.18. The stock is now traded at around $60.220000. The impact to a portfolio due to this purchase was 0.12%. The holding were 200,000 shares as of 2021-12-31. New Purchase: UBS Group AG (UBS) Mutual Of America Capital Management Llc initiated holding in UBS Group AG. The purchase prices were between $15.96 and $18.59, with an estimated average price of $17.63. The stock is now traded at around $20.370000. The impact to a portfolio due to this purchase was 0.11%. The holding were 657,160 shares as of 2021-12-31. New Purchase: Alcoa Corp (AA) Mutual Of America Capital Management Llc initiated holding in Alcoa Corp. The purchase prices were between $43.78 and $59.83, with an estimated average price of $50.25. The stock is now traded at around $62.740000. The impact to a portfolio due to this purchase was 0.1%. The holding were 167,314 shares as of 2021-12-31. New Purchase: Check Point Software Technologies Ltd (CHKP) Mutual Of America Capital Management Llc initiated holding in Check Point Software Technologies Ltd. The purchase prices were between $109.26 and $123.86, with an estimated average price of $115.86. The stock is now traded at around $126.680000. The impact to a portfolio due to this purchase was 0.09%. The holding were 76,150 shares as of 2021-12-31. Added: CMC Materials Inc (CCMP) Mutual Of America Capital Management Llc added to a holding in CMC Materials Inc by 62.85%. The purchase prices were between $119.55 and $195.5, with an estimated average price of $145.81. The stock is now traded at around $182.540000. The impact to a portfolio due to this purchase was 0.07%. The holding were 95,880 shares as of 2021-12-31. Added: KBR Inc (KBR) Mutual Of America Capital Management Llc added to a holding in KBR Inc by 114.37%. The purchase prices were between $40.48 and $47.62, with an estimated average price of $44.3. The stock is now traded at around $44.920000. The impact to a portfolio due to this purchase was 0.07%. The holding were 266,086 shares as of 2021-12-31. Added: Voya Financial Inc (VOYA) Mutual Of America Capital Management Llc added to a holding in Voya Financial Inc by 638.37%. The purchase prices were between $61.57 and $70.15, with an estimated average price of $65.95. The stock is now traded at around $68.840000. The impact to a portfolio due to this purchase was 0.07%. The holding were 114,801 shares as of 2021-12-31. Added: The Western Union Co (WU) Mutual Of America Capital Management Llc added to a holding in The Western Union Co by 574.14%. The purchase prices were between $15.82 and $21.29, with an estimated average price of $18.37. The stock is now traded at around $18.650000. The impact to a portfolio due to this purchase was 0.06%. The holding were 359,490 shares as of 2021-12-31. Added: Macy's Inc (M) Mutual Of America Capital Management Llc added to a holding in Macy's Inc by 565.94%. The purchase prices were between $22.21 and $37.37, with an estimated average price of $27.38. The stock is now traded at around $25.070000. The impact to a portfolio due to this purchase was 0.06%. The holding were 276,952 shares as of 2021-12-31. Added: EPAM Systems Inc (EPAM) Mutual Of America Capital Management Llc added to a holding in EPAM Systems Inc by 341.18%. The purchase prices were between $564.07 and $717.49, with an estimated average price of $644.62. The stock is now traded at around $443.520000. The impact to a portfolio due to this purchase was 0.05%. The holding were 9,675 shares as of 2021-12-31. Sold Out: iShares MSCI EAFE ETF (EFA) Mutual Of America Capital Management Llc sold out a holding in iShares MSCI EAFE ETF. The sale prices were between $74.94 and $80.27, with an estimated average price of $78. Sold Out: BTC iShares Core MSCI EAFE ETF (IEFA) Mutual Of America Capital Management Llc sold out a holding in BTC iShares Core MSCI EAFE ETF. The sale prices were between $71.13 and $76.32, with an estimated average price of $74.06. Sold Out: Vanguard FTSE Developed Markets ETF (VEA) Mutual Of America Capital Management Llc sold out a holding in Vanguard FTSE Developed Markets ETF. The sale prices were between $48.69 and $52.14, with an estimated average price of $50.68. Sold Out: BTC iShares MSCI EAFE Growth ETF (EFG) Mutual Of America Capital Management Llc sold out a holding in BTC iShares MSCI EAFE Growth ETF. The sale prices were between $104.29 and $112.61, with an estimated average price of $108.92. Sold Out: BTC iShares MSCI EAFE Value ETF (EFV) Mutual Of America Capital Management Llc sold out a holding in BTC iShares MSCI EAFE Value ETF. The sale prices were between $47.67 and $51.35, with an estimated average price of $50.11. Sold Out: Vanguard FTSE Pacific ETF (VPL) Mutual Of America Capital Management Llc sold out a holding in Vanguard FTSE Pacific ETF. The sale prices were between $75.52 and $80.44, with an estimated average price of $78.61. Here is the complete portfolio of MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC. Also check out: 1. MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC's Undervalued Stocks 2. MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC's Top Growth Companies, and 3. MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC's High Yield stocks 4. Stocks that MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC keeps buyingThis article first appeared on GuruFocus . || Honduras’ Central Bank Debunks Bitcoin as Legal Tender Rumors: The Central Bank of Honduras (BCH) has shot down social media chatter about a possible imminent announcement that bitcoin (BTC) was set to become legal tender in that Latin American country.
“Bitcoin for the moment in our country is not regulated,” said the BCH on Wednesday in aSpanish-language official statement. The BCH, the bank continued, is the only issuer of legal tender in Honduras, and that remains solely the lempira.
Today’s announcement comes following rumors on Twitter and elsewhere that Honduras President Xiomara Castro was – in similar fashion to neighboring El Salvador last summer – going to announce a plan to make bitcoin legal tender in her country.
In the BCH statement the bank recalled two communiqués – published in 2020 and 2021, respectively – clarifying the BCH "does not supervise or guarantee operations carried out with cryptocurrencies as means of payment in the national territory."
The BCH reiterated, though, that it continues with “the study and conceptual, technical and legal analysis” to determine the feasibility of issuing its own central bank digital currency (CBDC), which would be recognized as legal tender in the country. || Bitcoin Is a Bad Way to Fund the Ottawa Protest, and That's a Good Thing: Bitcoin has been advertised as a viable way for getting funds to the truck convoy protestors in Ottawa when fiat-based tools like GoFundMe don't work. But it has proven to be a less-than ideal way to fund the trucker convoy. And that's a good thing for Canadian democratic society.
The 20-day Ottawa protest has long since transitioned into illegal territory. Like any other illegal protest on Canadian soil, it needs to be ended. Unreliable funding only helps to reduce the mischief, especially if that funding can be nudged into functioning even less reliably.
J.P. Koning, a CoinDesk columnist, worked as an equity researcher at a Canadian brokerage firm and a financial writer at a large Canadian bank. He runs the popular Moneyness blog.
Don't get me wrong. As a Canadian, I realize that democratic protest is vital. It is one of many ways for citizens to change minds and initiate change. Money is integral to supporting protest. And the Ottawa trucker convoy – which started as a protest against coronavirus vaccine mandates – has aptly demonstrated the power of several new protest-friendly, internet-based financial tools: crowdfunding, instant personal bank transfers and bitcoin.
A GoFundMe campaign to fund the Ottawa convoy began on Jan. 14, hitting $7.9 million just a few weeks later. When the campaignwas canceledby GoFundMe on Feb. 4 for breaking its terms of service, a replacement campaign hosted on competing U.S. crowdfunding site GiveSendGo beat that amount within a few days. Itcurrently standsat $9.5 million.
A parallelbitcoin fundraiser, organized by a trucker-support group calledHonkHonkHodl, on Tallycoin, a bitcoin-based crowdfunding site, quickly raised 21 bitcoins ($900,000). Another $400,000 wasreportedly donatedto organizers via Interac e-Transfer, Canada's version of Zelle.
Read more: Dan Kuhn -Humans Are the Last-Mile Problem of Bitcoin Crowdfunding for Canada Truck Protest
When protest becomes illegal, it's the task of the police to step in and break it up. Any inability to do so on their part hurts one of the other key pillars of democratic society: rule of law. If the law no longer functions, Canada would quickly descend into a state of perpetual chaos.
By Feb. 9, the protest had reached the illegal stage. That day, the Ottawa police departmentnotified protestorsthey were engaging in mischief, a criminal offense. The "unlawful blocking” of streets was resulting in citizens being denied the "lawful use, enjoyment and operation of their property," declared the police department's press release, and the convoy was henceforth required to cease its blockade of downtown Ottawa.
But the protestors didn't comply.
When protests are illegal, law enforcement has a number of tools at its disposal to restore order including arrests, fencing, space control and negotiation. But the Ontario provincial government added an additional lever that (as far as I know) has never been used to control an illegal Canadian protest: It shut down the convoy's massive crowdfunding campaign.
Ontario's attorney general secureda restraint orderfrom an Ontario judge freezing all donations received via the convoy's two GiveSendGo campaigns. The restraint order, which was issued underSection 490.8of Canada’s Criminal Code, also extended to GiveSendGo funds already transferred to convoy organizers, including the convoy’s non-profit organization. Thelegal justificationfor the restraint order was the usage of the funds to commit the "indictable offense of mischief."
GiveSendGoboastedthat the restraint order didn’t apply to it, but it was an empty boast. Any Canadian bank that received a wire transfer from GiveSendGo for credit to the convoy’s bank account was obligated to immediately freeze it, on pain of breaking the law. The order had neatly crippled the $9 million in crowdsourced funds.
Read more:Canada's Trudeau Enacts Emergencies Act, and Crypto Is Included
Although the Tallycoin bitcoin fundraiser was not named in the restraining order, it was no less vulnerable to being frozen than the funds on GiveSendGo. The coordinators of the bitcoin fundraiserhad envisioneddistributing the 21 crowdfunded bitcoins to the same set of convoy leaders who were beneficiaries of the GiveSendGo campaign. The convoy leaders would then convert the bitcoins into Canadian dollars via an exchange and spend them.
It's pretty easy to spot the weakness. The very same judge who issued a restraint order on the nonprofit organization's GiveSendGo funds could have also issued it on the bitcoins raised on Tallycoin by the nonprofit. No bitcoin exchange in Canada was going to touch those funds, thus confining the 21 bitcoins to the same purgatory as the $9 million in GiveSendGo funds.
The coordinators of the bitcoin fundraiser have since shifted toa complicated strategyof paying bitcoins directly to truckers, the idea being to avoid single points of control. But evading centralized infrastructure means subjecting truckers to all of bitcoin’s pain points, reducing the fundraiser’s effectiveness so it shouldn’t be much of a concern to law enforcement.
Efforts to quell the illegal protest have since crescendoed with the federal government's invocation of the Emergency Measures Act, a law that gives the federal government extra powers during times of national crisis. Among other things, the Emergency Measures Acttemporarily allowsCanadian financial institutions to freeze accounts of any individual or business affiliated with the illegal blockades. A court order need not be secured, and the government says it will protect the banks frombeing suedfor damages.
In addition, financial institutions must disclose to the Royal Canadian Mounted Police or Canada’s intelligence agency, CSIS, whether they are holding funds for participants in the protest.
The measures will help foil bitcoin person-to-person funding attempts. The RCMPhas sent lettersto Canadian cryptocurrency exchanges asking them to cease dealing in 30 different bitcoin addresses, presumably those involved in the Tallycoin fundraiser. Because bitcoin transactions are public and traceable, exchanges will be able to freeze trucker accounts if they are linked to the embargoed addresses.
The powers afforded by the Emergency Measures Act make me very uncomfortable. It's one thing to use regular legal channels like Section 490.8 of the Criminal Code to secure restraint orders on large actors involved in mischief and unlawful blockades. That seems like a reasonable addition to law enforcement's arsenal of tools for ending illegal protests. We know it worked. The $9 million in GoFundMe funds are immobilized.
But it's a completely different thing to introduce special measures for freezing any and all accounts associated with the protest, and to do so without a court order or the opportunity for citizens to take banks to court. Undeserving Canadians who may have donated $20 to a cause they didn't entirely understand could get caught up in the blast radius.
Canadians don't yet know all the gritty details that led the government to invoke the Emergency Measures Act. But when the time comes for the automatically mandated official inquiry into the government's actions, the government will have to prove to citizens that it meant to prevent something more than just the "unlawful blocking” of Ottawa streets, but something truly sinister. Until it does so, the powers afforded by the Emergency Measures Act should worry all Canadians.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 45868.95, 46453.57, 46622.68, 45555.99, 43206.74, 43503.85, 42287.66, 42782.14, 42207.67, 39521.90
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-05-13]
BTC Price: 29283.10, BTC RSI: 26.30
Gold Price: 1807.40, Gold RSI: 30.98
Oil Price: 110.49, Oil RSI: 57.68
[Random Sample of News (last 60 days)]
US stocks largely gain as investors look past grim Netflix results to next wave of big tech earnings: • Stocks mostly rose Wednesday, with the S&P 500 in line for a second straight win.
• Netflix shares plunged after an unexpected loss of 200,000 subscribers in Q1.
• Tesla earnings are due after the close on Wednesday.
US stocks mostly edged higher Wednesday as investors cheered positive corporate earnings and look ahead to more big reports.
Dow industrials IBM and Procter & Gamble advanced following their respective earnings reports. And on deck late Wednesday will beTesla'searnings report.
The Nasdaq Composite, home to large-cap tech stocks, was essentially flat, even asNetflixshares plunged after the company late Tuesday said itlost 200,000 subscribers in the first quarterand forecast the loss of 2 million more. Other streaming services were pulled down as well, includingDisneyandRoku.
"The stock market is bouncing off of the 4,400 S&P support level as we head into the peak of earnings season," said Jay Hatfield, chief investment officer at Infrastructure Capital Management, in a note to Insider. "Investors are optimistic about earnings prospects for large capitalization tech stocks as AAPL, AMZN, GOOGL and MSFT are reporting next week," he said.
Here's where US indexes stood at 9:30 a.m. on Wednesday:
• S&P 500:4,481.21, up 0.43%
• Dow Jones Industrial Average:35,225.08, up 0.90% (313.88 points)
• Nasdaq Composite:13,616.93, down 0.02%
"We see significant resistance at the S&P 4,600 level as the overhang of hawkish Fed policy including quantitative tightening looms," said Hatfield.
Around the markets,"The Big Short" author and investor Michael Burry warnedTesla's rivals would catch up with the electric-vehicle maker, just asNetflix's competitors are curbing its growth.
Oil prices advanced after tumbling on Tuesday.West Texas Intermediate crudepicked up 0.8% to $103.41 per barrel.Brent crude,the international benchmark, rose 0.8% to $108.13.
Goldfell 0.4% to $1,951.70 per ounce. The10-year yieldfell 5 basis points to 2.89%.
Bitcoinmoved up 1.8% at $42,035.85.
Read the original article onBusiness Insider || Retail Interest in Bitcoin Is Dwindling, Google Data Suggests: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoin’s (BTC) price surge to as much as $69,000 last year and a range above $40,000 this year has failed to attract continual interest from retail crowds, search data from Google Trends suggests.
Worldwide searches for bitcoin have reached mid-2020 levels as of April 22, 2022, with readings of 17 for the week of April 17-April 23. This is a relative drop from May 2021’s readings of 76.
Google Trends allows users to compare the relative volume of searches. This, however, does not mean the total number of searches for that term is decreasing, but just means its popularity is decreasing compared to other searches. A line trending downward means that a search term's popularity relative to other popular terms is decreasing.
Data suggests most searches for bitcoin originate from Nigeria, followed by El Salvador and Austria. These search queries are relative to other terms or keywords searched in those regions, meaning Nigerians searched for bitcoin more than they searched for other keywords, but this wasn’t necessarily more than overall search figures from, say, the U.S.
But despite the apparent waning interest in bitcoin, some analysts say retail crowds are gravitating towards newer sectors and markets within the crypto space, such as tokens of decentralized finance (DeFi) or layer 1 blockchains such as Solana and Avalanche.
“Bitcoin has risen in price several times, with its investment threshold becoming higher for new users," explained Johnny Lyu, CEO of Kucoin, in a Telegram message. "But many new cryptocurrencies known as altcoins have appeared since, which, according to users, can be more attractive as investments."
Lyu added the quick presence and popularity of meme coins have gradually shifted users' attention from bitcoin in comparison to the past few years.
Egor Volotkovich, the executive director of cross-chain solutions EVODeFi, seconded that sentiment. Decentralized finance, non-fungible tokens, “and blockchain gaming are areas of interest that are now enticing investors across the board,” he said.
“Retail investors are more interested in exploring these other innovations the blockchain ecosystem now offers, which explains the declining search trends irrespective of the price differentials between now and the past two years,” Volotkovich added.
Meanwhile, some like Vasja Zupan, president of crypto exchange Matrix, argue the search data does not represent interest from institutional investors.
“Google Trends do not reflect institutional and professional interest. And I believe that current prices reflect those groups' interest and entering the market more than pure retail,” he said in an email to CoinDesk. “With bitcoin maturing we will see a less retail impact, with exception of times of peak bull cycles and more influence from institutional demand,” Zupan added.
Firms like business analytics makerMicroStrategy(MSTR) and electric carmakerTesla(TSLA) have purchased billions of dollars worth of bitcoin in the past two years, unlike previous cycles in 2018 and earlier.
Bitcoin was trading at just over $40,500 at writing time and is down 2.5% in the past 24 hours,datafrom CoinGecko show. || How a crypto bank run in Terra’s UST could rock cryptocurrencies: Following a massive shedding of cryptocurrencies and other risky assets by investors, the stablecoin TerraUSD (UST) “de-pegged” from its essential $1 value this week, while its sister token Luna dropped 79% from $82 to $17.2 over five days.
In a fight to save both cryptocurrencies, the Luna Foundation Guard (LFG), a nonprofit supporting the Terra blockchain, has deployed $1.5 billion in bitcoin and UST loans.
Whether the stablecoin fully recovers or collapses, the ongoing battle could have a lasting impact on the crypto market.
“Besides the obvious, real money and people’s livelihoods are at stake, these types of crypto monetary experiments are important for the evolution of the space,” John Kramer, head of over-the-counter and DeFi trading with GSR, told Yahoo Finance. “Whether UST ultimately recovers or collapses, it motivates others to build more robust stablecoin alternatives.”
On Saturday, the LFG began removing approximately$150 million in USTfrom the decentralized exchange Curve. The move unintentionally sparked a multi-million dollar sale of the stablecoin, according to public comments from Do Kwon, the 30-year old co-founder and creator of Terraform Labs and member of the LFG.
Minutes after LFG removed its funds, an unknown address sold $84 million in UST on crypto exchange Binance. Demand for UST became “off balance” on Curve, according to Lily Francus, a director of quantitative trading strategy with Moody’s, spurring more holders to sell for better-yielding stablecoins.
By midday Monday, UST’s value had fallen 5% to 95 cents per coin — not bad relative to bitcoin which lost 11% — but far more significant given how past stablecoins have plunged towards collapse in similar “de-pegging” events, Francus told Yahoo Finance.
By Monday evening, UST had plummeted 30% from 99 cents to 69 cents. Its sister token, Luna — a crypto once among the top 10 by market capitalization — fell from $60 to $25. It has since tumbled to $17 per unit, but that’s still a 55% drop over the past 24 hours.
Ryan Clemens, an assistant professor of Business Law and regulation at the University of Calgary, isn’t surprised by the turn of events.
“Algorithmic stablecoins are based on confidence and trust in the economic incentives of the stablecoin issuer's underlying ecosystem. Once that trust and investor demand evaporates, they quickly fail in a death spiral,” Clemens wrote in an email to Yahoo Finance. “And we saw that.”
Unlike cryptocurrencies — which are known to fluctuate widely — the point of stablecoins is to provide price stability for commercial payments and a safe haven from volatility for investors.
Stablecoins peg their value to another asset, most often the U.S. dollar, with the aim of wavering as little as possible from that asset’s value.
While the largest stablecoin projects — such as Tether (USDT) and Circle’s USD Coin (USDC) — are backed by assets and have faced regulator scrutiny on the quality of their reserves, UST’s approach is far more radical. It’s an algorithmic stablecoin, which primarily uses market mechanics to manage the asset peg by linking UST with its sister coin, Luna.
“In theory, these mechanics ensure traders can always swap $1 worth of UST for $1 worth of Luna, which has a floating price,” said Walter Teng, a Defi strategist with research firm, Fundstrat.
A big part of UST’s appeal is it also offers a 19.5% annual percentage yield (APY) on Anchor, a lending and borrowing protocol on the Terra blockchain, returns that are magnitudes what traditional bank accounts and most other stablecoins provide. As a result, Anchor holds 56% of UST’s total $17.5 billion circulating supply.
That means Anchor's health serves as a proxy for UST’s health, according to Teng.
But Anchor can’t afford the interest it pays out to borrowers and instead relies on its “yield reserves,” Teng said. And if nothing changes this month, Anchor has less than 50 days before it runs out of funds, according to a model Teng shared with Yahoo Finance, which doesn’t account for any funds from UST’s external backers.
Since February, LFG has been preparing for such a scenario by buying Bitcoin and Avalanche tokens (AVAX), so it can step in as a buyer of last resort to defend its $1 peg by selling reserves. As of last week, LFG held 80,394 bitcoins, roughly $3 billion at the time of its acquisitionannouncement.
As of Monday afternoon, LFG had taken out a $150 million credit loan, and Kwon announced that LFG agreed to issue a $1.5 billion loan denominated in bitcoin and UST.
The fight for UST to retain its $1 peg could have significantly negative ramifications for other parts of the crypto market — especially bitcoin.
“It all depends on how aggressively they need to defend the peg,” Bennet Tomlin, a data scientist and financial investigator, told Yahoo Finance.
“Any protocol that involved UST as collateral could see liquidations, any swaps trading that depended on UST could be somewhat impaired,” Tomlin added. “Loss of confidence in UST could cause loss of confidence in other algorithmic stablecoins.”
After reports surfaced Monday that major crypto exchange Binance was not allowing trading of UST to customers unless transacted below a 70-cent, per-unit price limit, the exchange announced it had temporarily suspended withdrawals of UST and Luna due to “network slowness and congestion.”
As of Tuesday afternoon, Anchor had added Solana (SOL) as an asset traders could borrow against. Kwon said over Twitter his team is “close to announcing a recovery plan.”
"Hang tight," Kwon added.
While UST’s fate continues to develop, the parties likely to pay the most will be backers hoping to save UST and probably, retail investors, according to Moody’s Francus.
“Like always,” she added.
Tomlin is less concerned about the venture capitalist firms.
“The cost basis for venture capitalists who invested in Luna is well under a dollar. They can weather nearly any drop,” he said. “The real risk is for retail investors and others who joined later, especially near the peak value for Luna of over $110.”
David Hollerith covers cryptocurrency for Yahoo Finance. Follow him@dshollers.
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance onTwitter,Instagram,YouTube,Facebook,Flipboard, andLinkedIn || 3 Oversold Penny Stocks to Buy Now: • Penny stocks provide excellent secular growth prospects, which could bypass the current bear market. There are a few oversold penny stocks on the market, and I’d urge investors to take advantage!
• Aurora Cannabis (NASDAQ:ACB) –Aurora has achieved economies of scale, allowing it to dominate the market. Additionally, the stock is undervalued after an unjustified sell-off.
• Gaslog Partners (NYSE:GLOP)– A 99.4% quarterly fleet uptime is well deserved. The firm is well-positioned to take advantage of lucrative contracts. Also, GLOP is significantly undervalued on a normalized basis.
• Platinum Group Metals (NYSE:PLG)– Insider buying is heating up! Furthermore, PLG’s Waterberg project could yield life-changing results as it aims to tap into the renewable energy space.
Source: Vitalii Vodolazskyi / Shutterstock.com
I personally know a few penny stock millionaires. Then again, I also know a few investors that lost most of their money after investing in penny stocks. First of all, diversifying into a bunch of penny stocks won’t work; that’s just gambling. What you should be doing is looking for diamonds in the rough.
The best way to explain this would be by considering skewness. Penny stock returns are more asymmetrical than mature stocks, thus, providing significant upside potential but also downside risk.
The approach I use when screening for penny stocks is to look for secular growth. How does that work? Well, fundamental change is the primary indicator of secular growth. From there onwards, you need to look for “best-in-class” stocks that you believe will dominate the given business environment via a solid business model.
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I discovered three excellent penny stocks that are oversold; let’s take a look at them.
[{"ACB": "GLOP", "Aurora Cannabis": "Gaslog Partners", "$2.62": "$4.92"}, {"ACB": "PLG", "Aurora Cannabis": "Platinum Group Metals", "$2.62": "$1.34"}]
Source: Ralf Liebhold / Shutterstock.com
The pessimism surroundingAurora Cannabis(NASDAQ:ACB)stock is astounding. I mean, here we have a company that’s achieved economies of scale with a gross margin of53%, yet investors are doubting its ability to produce future profits.
Aurora’s dominating the local and international markets with a full-on vertically integrated business model, which could see it reign supreme for years to come.
ACB stock is trading at a bargain. The stock’s price-to-sales and price-to-book ratios are trading at normalized discounts of43.27%and 31.98%, respectively. Additionally, the stock’s trading at a 1-month relative strength of29.60, which suggests that it’s oversold.
Gaslog Partners(NYSE:GLOP)stock is trading at a massive discount; it’s as simple as that. The company’s midstream exposure to the liquified natural gas industry leaves it in a strong position as the barriers to entry are high. Additionally, GLOP is receiving systemic tailwinds from rising profitability in the energy space. Thus, prompting me to believe that it could form a medium-term momentum pattern.
The company beat its fourth-quarter earnings target by6 cents per share. Behind its quarterly success was99.4% in fleet uptime, exploitation of an 11-month charter for GasLog Sydney, and rising demand for its carriers amid an ex-Russia trade infrastructure. Furthermore, the company retired $37 million of its debt during the quarter, subsequently increasing investors’ residual worth.
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GLOP stock is undervalued on a normalized basis. First off, Gaslog’s forward price-to-earnings ratio is trading at a56.64%discount, implying that the market underscores its earnings potential. And in addition, Gaslog stock is trading at a 42.75% discount-to-book value, meaning that the company’s fair equity value exceeds its market value.
Source: corlaffra / Shutterstock
Platinum Group Metals(NYSE:PLG)is a South African-based precious metals exploration company.
The firm’s primary objective is to serve the development of the renewable energy space with low-cost PGM group deposits. Furthermore, the company’s seeking exposure to gold deposits to diversify its risk.
PLG is still in early-stage exploration, meaning this is a binary play for investors. If its Waterberg project lives up to expectation, we’ll likely see its stock erupt.
Lastly, PLG stock is receiving lots of insider activity. The company’s management has secured $5.9 million worth of the firm’s shares during the past three months, indicating that there’s much internal optimism about the firm’s financial prospects.
On the date of publication, Steve Booyens did not hold any position (either directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The post3 Oversold Penny Stocks to Buy Nowappeared first onInvestorPlace. || Nasdaq sinks 4% to lowest since Dec. 2020 ahead of key tech earnings and as investors weigh threat of a global economic slowdown: • The Nasdaq plunged 4% Tuesday as investors looked ahead to key after-hours tech earnings.
• The three major indexes are all on track for losing months, with the Nasdaq more than 20% of its high.
• Morgan Stanley's Mike Wilson predicted that the S&P 500 will enter a bear market within weeks.
US stocks plunged Tuesday, continuing April's market sell-off, as investors weighed concerns of a global economic slowdown.
The Nasdaq led the sell-off, hitting the lowest level since December 2020, as the major US indexes head for a losing month. China's resurgent COVID-19 lockdowns and some mixed earnings reports are stirring more concern over global growth.
Tech stocks slipped Tuesday, as investors anticipate the results of Alphabet and Microsoft's first-quarter earnings after the close. Shares of the two technology giants moved lower along with those of Meta, Amazon, and Apple, which are also scheduled to report later this week.
Here's where US indexes stood as the market closed 4:00 p.m. on Tuesday:
• S&P 500: 4,175.17, down 2.82%
• Dow Jones Industrial Average: 33,240.31, dow 2.38% (809.15 points)
• Nasdaq Composite:12,490.74, down 3.95%
General Electricfell to a17-month lowafter its first-quarter earnings report revealed the company was hit by supply-chain snags and inflation. The stock fell as much as 13% on the day.
Electric vehicle makerTeslaalso dropped roughly 11% Tuesday, as competitorFordannounced plans toscale up production of its electric F-150amid huge demand.
Morgan Stanley's US equity strategist Mike Wilson said that the S&P 500 is set to fall sharply and enter a bear market within weeks. Theprimary market driver is slowing growth, rather than inflation or interest rates, he said.
Meanwhile, the US hassuper-sized its crude oil deliveriesto Europe to help replace missing Russian supply. At the same time, Russia's largest state-run oil producer failed to sell37 million barrels of crude oil.
Oil climbed higher, withWest Texas Intermediateup 3.25% to $101.79 a barrel.Brent crude, the international benchmark, rose 2.81% to $105.13 a barrel.
Goldrose 0.31% to $1,901.60 per ounce. The10-year yieldfell 7.8 basis points to 2.749%.
Bitcoinfell 4.8% to $38.265.68.
Read the original article onBusiness Insider || Warner Bros Discovery’s Net Debt Is Too High to Ignore: Warner Bros Discovery (NASDAQ: WBD ), the new entertainment giant formed on April 8 from the combination of Discovery Inc. and WarnerMedia, is set to become the second-largest media player by revenue after Walt Disney (NYSE: DIS ). Since the merger, WBD stock has dropped faster than the equity markets in general, losing more than 30% year-to-date, but it is rebounding 5% on the day. Despite the buzz around this mega-deal, WBD stock actually has a massive amount of debt to deal with and an integration year ahead to cope with, which will continue to send bearish waves on its shares. So for now, I’d avoid this one. InvestorPlace - Stock Market News, Stock Advice & Trading Tips While the newly formed entity has not yet published a combined quarterly performance, due to the freshness of the merger, MarketScreener expects WBD’s net debt to jump 321% in 2022 to a colossal $45.7 billion. With this massive figure, the leverage ratio of the company should reach 4.15x in 2022, a high level in the context of rising interest rates. Moreover, yesterday, BT Group confirmed that it agreed to form a joint venture with WBD to create a premium sports offering in exchange for an installment fee of £93 million over the next three years and up to £540 million in performance-based payments. While WBD will secure premium sports content for its platforms, it will further weigh on its finances and its stock performance. Content-wise, Warner Bros Discovery is set to compete as equals with other media giants and is currently valued at cheap multiples, trading at a forward EV/EBITDA of only 7.91x. Besides, the combined company should generate significant synergies, estimated by the management at $3 billion. Nevertheless, there seems to be more downside than upside in the near term. Indeed, the massive debt amount of the combined entity, the integration process of the two entities and the unfavorable market conditions for highly leveraged companies should continue to pressure WBD stock. Story continues On the date of publication, Cristian Docan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post Warner Bros Discovery’s Net Debt Is Too High to Ignore appeared first on InvestorPlace . || Follow the Insiders and Buy the Dip in These 3 Stocks: This article is excerpted from Tom Yeung’s Moonshot Investor newsletter. To make sure you don’t miss anyof Tom’s potential 100x picks,subscribe to his mailing list here.
On Thursday, the Commerce Department reported that U.S. GDP had shrunk 1.4% from the prior year.
“There are two realistic scenarios for how the coming months play out. Both end with recession,” noted Lisa Beilfuss of the Barron’s Advisor editorial team. “Either the Fed sufficiently fights inflation or it doesn’t, the latter resulting in the stagflationary combination of high prices and slow growth that inevitably leads to a worse recession.”
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In other words, theS&P 500’s12-year bull market seems to have left without paying the check. Investors now find themselves stuck with the tab.
In some respects, America’s stock market bender ended long ago. Cathie Wood’sARKK Invest(NYSEARCA:ARKK) peaked in early 2021; it has since lost two-thirds of its value.
But in other areas, the party still rages on. According to the latest data from S&P CoreLogic, home prices jumped nearly 20% in February. And in energy, North American oil rig counts are still ticking up.
Some corporate executives are belatedly joining the festivities. Over the past week, insiders have snapped up $354 million of shares, according to data from Finviz — around five times the usual haul. And one group of companies have seen particularly high interest:
Biotech moonshots.
Source: Catalyst Labs / Shutterstock.com
Last month, I noted how biotech stocks are a rare species:
They’re high-growth stocks that tend to hold value in downturns.
That’s because drugs in development are also tradable assets. If share prices drop too low, activist investors could theoretically buy the entire company and sell the drug candidates for immediate profit. Many biotechs also maintain sizable cash positions to fund clinical trials.
These qualities have long helped biotechs navigate recessions. In 2008, biotech stocks dropped by less than half of the S&P 500. And the four firms I mentioned in April have only collectively fallen by 14%, despite heavy losses fromGreenwich Life Sciences(NASDAQ:GLSI).
• Longeveron(NASDAQ:LGVN). +5%
• Entera Bio(NASDAQ:ENTX). -2%
• Tracon(NASDAQ:TCON). -20%
• Greenwich Lifesciences. -38%
By comparison, ARKK Invest has fallen by 22% over the same period.
Of course, biotechs aren’t perfect. Value stocks will generally outperform when interest rates rise. “Low-duration” stocks with near-term profits are discounted by less than “high-duration” stocks with further-out gains. Going back to my April picks, Greenwich’s stock dropped 38%despite positive phase-2 results.
And most biotech companies eventually stumble. Only 20% of drug candidates ever make it to approval, according to the NIH. Investors need specialized knowledge of drug pipelines to avoid picking up too many duds.
Nevertheless, April’s massive drawdowns have created no-brainer opportunities for some enterprising executives. And if you’ve followed myInsider Trackstrategy, you’ll know that when certain insiders are buying, it’s time to look closer.
Last Thursday,BioCardia(NASDAQ:BCDA) CEO Peter Altman added another 5,000 shares to his already sizable stake in the company.
The purchase was particularly telling. BioCardia has published virtually no negative news since shares reached $5 last June, suggesting that macroeconomic forces are the primary culprit behind the stock’s fall to $1.50.
Recession fears have even overshadowed positive news. In February, the firm announced their CardiAMP system had received Breakthrough Device Designation from the FDA. The program selects high-potential systems for expedited development and has a strong track record in bringing products to market.
Plus, BioCardia has multiple shots on goal. Its CardIAMP cell therapy has two phase-3 trials underway, one with a primary completion date due later this year. Another four trials round out the firm’s pipeline.
This biotech Moonshot remains a risky bet; its tiny $27 million market capitalization could vanish overnight if pivotal trials fail and the company has a history of leaving investors disappointed. Shares peaked in 2017 at $100 before a drawn-out legal battle with Boston Scientific sent shares sliding to $1.50.
But BioCardia could be a bet worth taking. The company’s $10 million in net assets mean that investors are receiving the entire company for around $17 million. And its “breakthrough” designation implicitly raises its probability of success. If you’re looking to invest a small stake, BioCardia is an increasingly attractive bet in a sea of recessionary fears.
For most intents and purposes,Sharps Technology(NASDAQ:STSS) bears all the signs of a busted IPO. Its $4.25 IPO price barely lasted beyond the opening bell; shares have since fallen to $1.22.
But last Thursday, CEO Robert Hayes made a small $6,000 purchase that should make skeptics take a second look.
Sharps Technology is a startup-stage medical device company producing safety syringes. The company’s patented system sheathes the needle immediately after an injection, and its efficient design helps get extra doses from vials.
The company holds particular promise in areas like cosmetic surgery, where patients require multiple injections. Home-administered insulin for diabetes management is another significant market. And Sharps Technology has become a firm to watch.
In September 2021, the firm hired its current CEO — a former senior director of a pharmaceutical glass company. It was an obvious choice. In his previous role, Mr. Hayes developed and commercialized specialized pharma packaging products. His move to Sharps Technology gives the startup the leadership it needs to commercialize. And a greater investment into vaccines could increase the market for safer needles, at least in the short run.
There are some downsides. STSS remains a zero-revenue company; $13.6 million on the books will primarily go towards purchasing manufacturing facilities. The market for a higher-quality safety syringe is also untested — there’s no guarantee that hospitals or healthcare insurers will consider the safety improvement cost-effective.
Yet Sharps Technology is a compelling bet. Its current market capitalization of $11 million sits below its cash value; the company could repay its $2 million in outstanding notes and still theoretically be worth more. And Covid-19 vaccine shortages have highlighted the value of more efficient syringes in the court of public opinion. Though STSS isn’t a slam dunk winner, Mr. Hayes certainly has reason to buy.
Finally, recent drawdowns have madeCyclo Therapeutics(NASDAQ:CYTH) a stock to watch.
This company is a long shot bet on a potential drug to slow Alzheimer’s disease. By helping the body move cholesterol out of cells, Cyclo’s lead candidate, Trappsol, could theoretically reduce cell damage found in Alzheimer’s patients.
The product is still relatively untested. Unlike medicines dealing with more traditional pathways, Trappsol’s positive Phase 1 results tell us little about its efficacy. We only know that the drug (probably) won’t kill its patient. Only phase-3 results will tell us for sure if the drug has any use.
Still, Cyclo’s rapid drop from $13 to $2.50 makes for a compelling value play. This Moonshot firm has $16.6 million in cash and zero debt. Its $23 million market capitalization now puts its enterprise value at barely $6 million — a rock-bottom valuation for a firm with an orphan drug designation in its pipeline.
Insiders have also been major buyers of the stock. Three executives, including both the CEO and COO, have bought significant stakes in the past several months.
Clear-eyed investors should only give Cyclo Therapeutics a 15-25% chance at any success. But in the off-chance that Trappsol proves useful, the payoff will more than make up for the gamble.
RegularInvestorPlacereaders might have noticed a broad change in tone. In November, InvestorPlace analyst Eric Fry began warning about the“Tech Bubble 2.0”before tech firms started to tumble. And Louis Navellier was quick torecommend higher-quality playsin January when Fed Chair Jerome Powell began spooking markets.
Moonshot readers will have likewise noticed a shift in this newsletter. Energy plays — which includedPeabody Energy(NYSE:BTU) andEnservco(NYSEAMERICAN:ENSV) in 2021 — now include cheap midstream companies with plenty of downside protection. And I’m mainly ignoring today’s mania over stocks likeRedbox(NASDAQ:RDBX) in favor of deep-value plays with better long-term odds.
That’s because we may already be in a recession. Last month, the University of Michigan’s Consumer Sentiment survey showed its lowest reading in over a decade after plunging 26%.
“Falls this sharp are often associated with recessions,” noted the Economist.
That 1.4% GDP shrink in Q1 is also bad news. Recessions are generally marked by a fall in GDP over two consecutive quarters. Look around, and many Main Street folks are starting to feel hopeless.
The negative sentiment will reverse at some point. Stocks eventually become too cheap to pass up, making even high-growth one bargains. But with current attitudes so bearish, it’s hard to envision a quick return to the bull market of 2021. For now, it’s best to play some defense with higher-quality value Moonshots until animal spirits revive.
P.S. Do you want to hear more about cryptocurrencies? Penny stocks? Options? Leave me a note atmoonshots@investorplace.comor connect with me onLinkedInand let me know what you’d like to see.
Thomas Yeung is an expert when it comes to finding fast-paced growth opportunities on Reddit. He recommended Dogecoin before it skyrocketed over 8,000%, Ripple before it flew up more than 480% and Cardano before it soared 460%. Now, in a new report, he’s naming 17 of his favorite Reddit penny stocks.Claim your FREE COPY here!
On the date of publication, Tom Yeung did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Tom Yeung, CFA, is a registered investment advisor on a mission to bring simplicity to the world of investing.
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The postFollow the Insiders and Buy the Dip in These 3 Stocksappeared first onInvestorPlace. || Brazil Has All the Ingredients to Be a Web3 Powerhouse ETH Rio Showcased Nation's Promise But Old Challenges Like Corruption Loom: In a week filled with discussions, building, and excitement, ETH Rio brought together crypto-natives and crypto-curious from all over Latin America and beyond to exhibit what has been brewing in the region. Latin America presents a unique opportunity for crypto and Web3. The continents history has been turbulent and the majority of people here know all too well what it feels like to get rugged by their governments whether it be through rampant inflation, restrictive monetary policy, or blatant corruption. Yet, with a combination of a large online population, a growing pool of talented developers, and the desire to improve their situation there is fertile soil for crypto and web3 to take root. Entrenched Incumbents Many of the industrys most influential figures are noticing this. Binance Founder and CEO CZ made a surprise appearance at the conference to announce the exchanges plan to expand into Brazil. CZ is meeting with government officials in São Paulo and Rio de Janeiro as he eyes where to set up shop for his Brazilian headquarters. Binance will face competition from entrenched incumbents such as Mercado Bitcoin and Mexico-based Bitso, both unicorns that collectively have about 7 million users . In addition, heavyweights Coinbase, Crypto.com, and others are attempting to expand in the country, too. None of this should come as a surprise. With 215M people, Brazil is the largest country in South America by far. Brazil, of course, is also the No. 1 Portuguese-speaking country in the world, three out of four fluent individuals. . The effect of being the center of the lusophere means that Brazil has built a unique cultural moat around itself that has cultivated a distinct, vibrant culture but has also created a strong tendency to look inward. For Brazil, the immediate challenges it faces when it comes to building in web3 are how to look beyond its insular mindset and how to better maintain talent. Talking to a number of attendees at the conference, the primary mantra that I heard was that Brazilians build for Brazilians. Although Brazil has a giant market, it oftens finds itself having a local mindset. This line of thinking was a major reason why Argentina-based exchange Ripio acquired the second-largest exchange in Brazil, BitcoinTrade, in order to gain a foothold in the country as well as expand its OTC operations here. Story continues Brazils situation, both culturally and monetarily, is different from its Spanish-speaking neighbors. With smaller populations and a lack of a language barrier they share a similar attitude when it comes to building. Furthermore, the varied economic situation in each country affects how the populations interact with cryptocurrency. Relative to its neighbors, Brazil has much less inflation and many who hold crypto see it as an investment. Meanwhile, neighbors such as Argentina and Venezuela suffer from chronic high inflation. This uncertain environment has spurred these citizens to prioritize the immediate future and utilize cryptocurrency for its practical use as a currency. Scaling Breakthroughs and a Thriving Culture: Heres What I Learned About the State of Web3 at ETHDenver For Brazil, the immediate challenges it faces when it comes to building in web3 are how to look beyond its insular mindset and how to better maintain talent. In this regard, I was able to interview one Brazilian founder who is taking this challenge head on, Pods Finance co-founder Rob Silva Jr. Pods Finance is a decentralized options-AMM and they originally launched in 2020. The founders asked themselves, Why cant novel innovation happen here in Brazil like it does in Silicon Valley or other places in the world? What needs to happen in order to make this a reality? Core Team This is one of the reasons why Robson decided to build an options protocol which at the time was an unexplored area of DeFi. The core team is currently made up of five people, four of whom are Brazilian, and have made significant strides in advancing options. The protocol was the first to code the black-scholes equation, a mathematical model used to price options on-chain which has gone on to be adopted by other options protocols. Regardless of location, Pods, like many options platforms, face challenges in the immediate future. For one, options have not seen the same traction as decentralized spot or margin protocols have. Several reasons account for this but the main ones include the education curve the retail users face when it comes to derivatives, a preference to degening over hedging, and an advanced/institutional customer base that still prefers interacting with options on centralized platforms instead. Ethereum on the beach. For adoption, its a matter of patience to resolve those issues as well as making it easier to utilize options in tandem with other DeFi money legos. Examples that have been discussed in the past have included attaching a call option to yield farming programs to incentivizing holding and attaching an option to a concentrated liquidity position to hedge volatility. As Pods continues to position themselves as a viable money lego to the world, Robson understands that its still important to keep open channels of communication at home to inspire the next generation of home-grown Brazilian DeFi/Web3 projects. A few, I am happy to report, are already starting to manifest. One particular platform, DeFi Basket , allows users to construct a DeFi portfolio in a single transaction and manage it as an NFT. As inspiration for cultivating a culture of innovation at home, Robson cites India-based Polygon as an example. The L1 has made an impact worldwide yet maintains vibrant lines of communication with the wider Indian blockchain community. Pods and DeFi Basket were not the only homegrown protocol from Brazil I was able to learn about. Projects that caught my eye included Detrash , a DAO that is building an incentive system for waste collection and Play4Change , a guild that is onboarding Brazilians for the first time into Web3 through P2E games. Waste management has been a tricky issue for Brazil and experimenting with novel ways to incentivize recycling will help with both cleaning up the country as well as onboarding people into Web3. For Play4Change, P2E is merely the first step of the Web3 tunnel for players with the goal being to financially empower users who have been previously disregarded from the existing financial system. Both of these projects align with what Play4Change community lead Luiz Haddad was espousing during his speech at the beginning of the for regenerative systems to become the standard in Web3, a step further from merely being sustainable and a complete 180 from the extractive systems that characterized the world of Web2. He goes on to say in order to build parallel systems, they must be completely novel from the ones that preceded it and require a complete change in mindset and attitude when interacting with them. Rampant Inequality Brazil is a place that I have felt a personal connection with since first stepping foot in the country eight years ago. I have traveled here in different capacities whether it be to study, vacation, or for work. There is no denying that the energy here is like nowhere else in the world, its something special that is hard to describe in words which is a reason why I always find myself coming back here. Yet, Brazil does not come without its problems. A history of corruption, rampant inequality, and inefficient bureaucracy have led many of the countrys brightest to seek opportunities elsewhere. I remember hearing an old saying about Brazil back in college which went Brazil is the next great country and always will be. But with robust levels of crypto adoption, can Brazil embrace DeFi and Web3 and become a major force on the world stage? The key difference in Brazil is that adopting those parallel systems is much more of a pressing need than in the developed world. Its a matter of educating and onboarding those who can benefit from it the most while fostering an environment conducive to building better financial tools and public services. There is no silver bullet and it will be an uphill battle, but if Brazil can overcome its struggles, the country can truly become a leader in the world of web3. David Liebowitz is a contributing writer to The Defiant. Read the original post on The Defiant || Crypto Real Estate - When The Time To Buy is NOW...: Esco Crypto Estate Playa de Las Americas, Spain, May 10, 2022 (GLOBE NEWSWIRE) -- After a couple years riddled with tension brought about by the COVID-19 pandemic, the world’s reaction to it, and the struggles of the global economy to get back on track, people are starting to remember what it feels like to be normal again. The need to find strong investments for your financial well-being and the desire to have a place to ‘get away from it all’ have never been more important than they are right now. For investors savvy enough to have gotten into the cryptocurrency market, they have remarkable value in their portfolios and are itching to translate it into equitable, tangible long-term investments. If the above describes your situation, then there’s never been a better time than now to invest in exotic vacation property such as luxury villas on the Spanish islands of Ibiza, Tenerife, and Palma de Mallorca. The COVID-19 scare has secluded locations in high demand, and Esco Crypto Estate is combining this hot investment property with the hottest financial asset in today’s markets - cryptocurrency. What makes them unique is that they accept Bitcoin as payment for all real estate transactions and are a wire-to-wire, all-inclusive management company, superior to agencies who only handle real estate consulting or provide property listings around the world. This is not a service where you are constantly having to upload another document, make another phone call, and continually feel like you are having to do all the work. They offer a 'turnkey operation' that can handle your needs from end to end so that you only have to worry about which property to buy and what you want to do with it after you take possession. Esco Crypto Estate's team is legally savvy and excels at accounting for the myriad of subtleties involved with the acquisition of real estate, particularly when dealing in international transactions. They know the factors many crypto holders are looking for when deciding where to invest, "Privacy and confidentiality are essential linchpins for cryptocurrency holders and we hold those two qualities in the same high regard for our customers" a company spokesperson said. Using cryptocurrency to buy real estate can help someone avoid having to gum up their financial portfolio with unwanted paperwork and compliance protocol. Esco Crypto Estate allows someone to use their connections in the Australian and English investment management sector, turning cryptocurrency holdings into prime luxury villas and other real estate holdings in the most highly-desired locations on Earth. For more information: Official website: https://www.btc2property.eu/ Telegram: @EscoCryptoEstate Story continues CONTACT: Romans Slastins Public & Media Inquiries Contact BTC 2 Property +34 679595959 office -at- btc2property.eu || Stocks slide, long-dated yields rise on inflation concerns: By Herbert Lash NEW YORK (Reuters) - Long-dated U.S. Treasury yields surged and global stock markets slid further on Friday as investors worried the Federal Reserve may not be able to curb inflation in the years ahead even as U.S. data showed decelerating wage growth in April. Labor Department data showed the unemployment rate fell last month to its pre-pandemic low of 3.5% as job growth moderated. Average hourly earnings rose 5.5% from a year ago, slightly slower than the previous month's increase. The data underscored challenges the Fed and other central banks face as they battle rising inflation with China's lockdowns causing persistent supply chain disruptions and the war in Ukraine pressuring food prices. The inflation outlook past the next two years is beginning to look cloudier for bonds, at least for bond traders, said Jim Vogel, interest rate strategist at FTN Financial. "We have taken into account, not necessarily the inability of the Fed to fight inflation, but an inflation problem that for right now is beyond central banks to calm for the rest of the decade. That's pretty bleak," Vogel said. The yield on benchmark 10-year Treasury notes rose 5.3 basis points to 3.121%, a rate last seen in November 2018 after sharply rising from about 1.5% at the end of 2021. The Fed hopes to slow inflation by tightening monetary policy. Market volatility has increased on fears too much tightening could cause a recession. Trade was volatile on Wall Street. The major indexes rose briefly into the green and the Nasdaq fell as much as 2.66%. The Nasdaq and S&P 500 posted their fifth straight week of declines, and the Dow its sixth. It was the longest losing streak for the S&P 500 since mid-2011 and for the Nasdaq since late 2012. The Dow Jones Industrial Average fell 0.3%, the S&P 500 lost 0.57% and the Nasdaq Composite dropped 1.4%. "The market is focused on the Fed being behind the curve and that's why the market is down," said Keith Lerner, chief market strategist and co-chief investment officer at Truist Advisory Services. Story continues Fed funds futures priced in a roughly 75% chance of a 75 basis-point interest rate hike at next month's Fed policy meeting - even after Fed Chair Jerome Powell said Wednesday the U.S. central bank was not considering such a move. [FEDWATCH] The pan-European STOXX 600 index fell 1.91% as regional shares chalked up their worst week in two months. MSCI's gauge of global equity performance shed 0.99% and emerging market stocks lost 2.57%. Russell Price, chief economist at Ameriprise Financial, said the unemployment report showed the U.S. labor market is solid. "Over the last few months we have seen the month-over-month pace of average hourly earnings starting to decelerate somewhat," he said. "That's a positive indicator that this surge in hourly wages that we experienced may finally be easing." The dollar slipped against a basket of currencies after two volatile days as investors focused on how aggressive the Fed will be in hiking rates. The dollar index hit a 20-year high overnight on safe haven demand, the day after a sharp stock selloff driven by rising U.S. interest rates and as European currencies weakened on worries about growth in the region. The dollar index rose 0.077%, with the euro up 0.06% to $1.0546. The yen weakened 0.31% at 130.56 per dollar. The European Central Bank should raise its deposit rate back into positive territory this year, French central bank chief Francois Villeroy de Galhau said, indicating his support for at least three rate hikes in 2022. The Bank of England raised rates by 25 basis points on Thursday as expected, but two policy makers expressed caution about future rate hikes. Oil prices climbed for a third straight session, shrugging off concerns about global economic growth as impending European Union sanctions on Russian oil raised the prospect of tighter supply. U.S. crude futures rose $1.51 to settle at $109.77 a barrel and Brent settled up $1.49 at $112.39. Gold rose on a weaker dollar but the prospect of aggressive rate hikes from the Fed led bullion to post its third straight weekly decline. U.S. gold futures settled 0.4% higher at $1,882.80 an ounce. Bitcoin fell 1.76% to $35,891.06. Germany's 10-year government bond yield rose to 1.082%, its highest since 2014. (Reporting by Herbert Lash, additional reporting by Alun John in Hong Kong and Sujata Rao in London; Editing by Chizu Nomiyama, Nick Zieminski and David Gregorio)
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: down || Prices: 30101.27, 31305.11, 29862.92, 30425.86, 28720.27, 30314.33, 29200.74, 29432.23, 30323.72, 29098.91
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
It’s Still Too Early To Buy Bitcoin?: We shared two swing trades over the previous 3 week period and both reached all three profit targets. Our targets were strategically placed between 11,600 and 13,250 because of the historical resistance. Now that 11,600 to 12,300 has been cleared, we can anticipate a high probability of support. Old resistance becomes new support and vice versa. I am not going to get into the psychological aspects of this phenomenon, but in this case it meets the first criteria that we look for when it comes to a trade idea and that is: attractive location. The blue lines on my chart point to the ideal area where probability favors new buying activity and that is the low 12Ks. Will Bitcoin offer such an opportunity? That is up to Bitcoin. All we can do now is WAIT and see if it develops over the next week. Can Bitcoin find support sooner? Yes, anything is possible, but it must provide a price structure that qualifies and allows for a way to define risk. Otherwise no trade. This philosophy keeps us out of a lot of fake-outs, false signals, and other noise that many get confused by, especially when watching smaller time frames. This is why we only had 2 trades over a 3 week period and the next trade may take a week or so to develop. Waiting is the skill that most traders and investors struggle with. This article was written by Marc Principato CMT, Executive Director at Greenbridgeinvesting.com. This article was originally posted on FX Empire More From FXEMPIRE: Tips On How To Trade The Currency Pair EUR/GBP AUD/USD Daily Forecast – Australian Dollar Rebounds After Yesterday’s Sell-Off Oil Price Fundamental Daily Forecast – Down on Growing Concerns Over Global Oil Supply Glut Asia-Pacific Shares Finish Lower, but Outperform Stateside Markets USD/JPY Fundamental Daily Forecast – One-Week Yen Volatility Against Dollar Jumps to Seven Month High AUDUSD Elliott Wave Analysis, One More Leg Up to New Highs || Money Reimagined: Who Are the Real Monsters?: For this special Halloween edition, CoinDesk Executive Editor Marc Hochstein weighs in with a guest column about the spookier aspects of the banking system.
It’s a perfect follow-up tolast week’s newsletteron the harmful legacy of the U.S. Bank Secrecy Act.
Before you dig into it, let me remind you to check out this week’s Money Reimagined podcast.
Related:Crypto Is Less Scary Than Halloween
In this episode, Sheila Warren and I interview the newly reelected premier of Bermuda, David Burt, who is spearheading projects to use the island as a testing ground for stablecoins and to launch a communally-owned national digital bank.
–Michael J. Casey
With Halloween and the12th anniversaryof the Bitcoin white paper approaching, it’s an apt moment to consider a classic horror trope through a monetary lens.
“Who are the real monsters?”
Related:Blockchain Bites: Ripple's MoneyGram Pump, OKEx's Bitcoin Cash Plan, Bitcoin's Birthday
FromMary Shelley’s “Frankenstein”toGeorge Romero’s “Night of the Living Dead,”to Jordan Peele’s “Us,” some of the scariest tales suggest that “normal” people are more nefarious than the nominal bogeymen. This is a useful way to think about the allegedly abominable qualities of cryptocurrency when compared to the incumbent institutions it challenges – and thesupposedly safer visionsthey are now putting forth.
Since CoinDesk is a family publication, I won’t go into the details of those gory fictional works. Besides, because there’s an element of farce here as well, I’ve got an even better seasonally appropriate metaphor: “The Munsters.”
For the 99% of readers too young to remember, this was a 1960s sitcom about an eccentric family who live in a cobwebbed mansion and resemble iconic movie monsters. The patriarch, Herman Munster, is a dead ringer (ahem) for Frankenstein’s monster, his wife and father-in-law are vampires, his son a werewolf. They’re a friendly bunch but never quite understand why the neighbors act so strangely around them.
The most important character for this discussion is Marilyn, Herman’s teenage niece. She isn’t a monster at all; she’s the archetypal Girl Next Door. The running gag is that the other Munsters pity Marilyn for her looks, and even she somehow blames herself when boyfriends run away screaming upon meeting her relatives.
Just like Marilyn Munster, the Bitcoin network is a wholesome outlier among the frightening creatures of the legacy financial system.
The cryotocurrency’s chief value proposition,censorship resistance, is not a radical departure from tradition as sometimes implied. On the contrary, it’s the way money’s been since the days ofcowrie shells. All Bitcoin did wasrestoreit for transactions over the internet.
You go to a butcher shop, you hand a few banknotes to the guy behind the counter, he gives you a steak. No third party who thinks you should be eating soy instead can veto the transaction. That’s normal.
What’s abnormal is busybody A pressuring intermediary B to prevent individuals C and D from transacting, even lawfully. Even more abnormal is moving to a world where every last C and D has no choice but to rely on a B and therefore lives at the mercy of the As.
None of this is to say that intermediaries are going away, nor that they should. They can add value. The problem is having no choice but to use one, which makes them choke points to be exploited by scolds and tyrants.
Possessed, like Linda Blair in “The Exorcist,” you might say.
Another characteristicbitcoin(loyalists to other crypto tribes may substitute the asset of their choice) shares with older forms of money, and not the electronic kind that sits in your bank account, is that it is abearer asset. Like cash, once you lose it, it’s gone, and it’s the holder’s burden to keep it secure through careful storage of their cryptographic private keys.
Yes, this is scary, as many crypto investors can attest. But also scary is cops seizing assets of people whohaven’t been charged with a crimeandputting the burden onthemto prove an asset wasn’t involved in a crime. What’s even more terrifying is moving to a world where ALL money is held at intermediaries who must comply with such a regime.
In this context, the advantage of a bearer asset secured with public-key cryptography is that the authorities cannot unilaterally seize someone’s funds by subpoenaing a bank. They need the key holder to cooperate, even if under duress. As I’ve written before, this “claws back a modicum of power for the individual” from the lurking Leviathan.
One more commonality with cash is that bitcoin requires no personally identifiable information to handle – at least, the basic open-source software doesn’t, even if regulated exchanges demand it.
The pseudonymity of alphanumeric addresses, along with the aforementioned resistance to seizure and censorship, go a long way toward explaining the technology’s popularity among criminals and other unsavory types.
“Current terrorist use of cryptocurrency may represent the first raindrops of an oncoming storm of expanded use,” warned a recentreportby a U.S. Department of Justice task force. The laundering of illicit funds, the report pointed out, “can be substantially easier when the movement of funds takes place online and anonymously.” That’s enough to give anyone goosebumps.
But remember that the demand forlegibilityof financial flows is a modern phenomenon. The U.S. Bank Secrecy Act only just turned 50 (withmixed results at best, as Michael J. Casey wrote last week). Depending on how you define it, money has been around for as long as5,000 years.
Legibility is the aberration. Legibility is an ongoing experiment.
That experiment has spawned its own terrors. Consumers in today’s digital world must entrust sensitive personal data to an untold number of hackable organizations,Equifaxes-in-waiting.
Even more chillingly, the powers-that-be want to double down. U.S. regulators recentlyproposed lowering the thresholdfor the “travel rule” to $250 from $3,000 for international money transfers. Under the travel rule, if you wire someone money, not only does your bank know yourname, account number and address, so must the recipient’s bank, and it keeps a record for five years. And if you receive money, there’s a chance the sender’s bank has your name and address as well. Perhaps this makes sense for high-roller transactions, but $250?
Also, note that $3,000 in 1996,the year the travel rule was created, is equivalent to nearly $5,000in today’s dollars.
So even if the regulators don’t follow through on their proposal to lower the threshold for international wires, it’s already been happening in slow motion, thanks to inflation. Every year the dragnet widens a bit automatically, just as it has for thecash transaction reportsbanks file to the government.
The upshot is that, by default, more and more personal information is likely to be captured over time.
And that brings us to the last way bitcoin is a return to form rather than a deviation, although this one is perhaps the most controversial.
While its exchange rate with the dollar fluctuates wildly from minute to minute, over time bitcoin has appreciated mightily in value. To detractors, the short-term volatility makes it useless as a currency; to proponents, the long-term appreciation and hard supply cap make it the ideal currency, one thatincentivizes saving.
They have a point. “A penny saved is a penny earned.” That’s normal. Or was – it’s the kind of thing you hear parents say in black-and-white sitcoms.
“Stop whining about low interest rates, hoarder. It’syour patriotic dutyto blow your discretionary income at the mall or wager it onstonks, we need to keep the economy moving.” That’s the stuff of nightmares.
– Marc Hochstein
As the price of bitcoin has surged higher in recent months, a string of listed companies has announced they are engaging with the cryptocurrency. On Aug. 11, business intelligence firm MicroStrategybought a whopping $250 million worth of bitcoinbeforeadding another $175 millionon Sept. 15. Three weeks later, payments company Squareput $50 millioninto the cryptocurrency. Then, on Wednesday last week, U.K.-listed fintech firm Mode Global Holdings revealed a “significant purchase” of bitcoinfor treasury management purposes andPayPal confirmed it would enable bitcoin transactionson its payments app.
In the first three cases, the companies essentially embraced the thinking of many bitcoin bulls, treating the cryptocurrency as a “digital gold” hedge with which to protect their liquid assets against future monetary stress. With PayPal, the action was likely more geared toward leveraging an anticipated rise in public demand for bitcoin. For all four, the announcements boosted the companies’ stock prices.
There have essentially been two reactions to these moves.
One camp saw them as smart, proactive steps to front-run a trend toward wider mainstream acceptance. That view holds that at least some amount of bitcoin belongs in everyone’s investment portfolio because it functions as a valuable, uncorrelated asset and that this is now of greater relevance as uncertainty grows around the future of the global financial system. The other camp saw it as a rather cheap, even cynical move to piggyback on bitcoin’s current rising price to boost the firm’s stock price. As of late Thursday, New York time, bitcoin was up 21% from the end of July and up 17% from two weeks earlier.
A chicken-and-egg problem complicates the assessment of these two perspectives. These high-profile announcements were not neutral; they directly contributed to bitcoin’s price gains and elevated the conversation around its relevance in hedging strategies. In turn, that boosted these companies’ valuations – especially of MicroStrategy, whose bet was so large that the rising price in BTC materially increased its book value.
But bitcoin is, of course, just one of a number of factors that will affect these companies’ share price, and a small one at that. So with that in mind, let’s look at their price charts as of Thursday to see how their shares performed around those announcements.
PANDEMIPRENEURS.Necessity is the mother of invention, or so the saying goes. There’s been an extraordinary large number of new U.S. companies created this past year,according to Bloomberg columnist Justin Fox. Some 3.5 million new business applications were registered by the Internal Revenue Service in the first 42 weeks of the year, up from 2.9 million for the same period last year, an impressive number given the doom and gloom around COVID-19.
Fox points out that this often happens during a recession, as individuals who can’t find jobs strike out on their own. But this time the trend has been reinforced by factors unique to this social and economic phenomenon. For one, credit has been easier to come by than, say, during the Great Recession of 2009, which stemmed directly from a debt crisis. In part, that’s thanks to the small business loans rolled out in the COVID-19 stimulus package, and in part due to rising home prices as city dwellers fled to safer work-from-home environments.
Yet, the trend may also reflect the inventiveness unleashed by the crisis. The unusual circumstances, whether it’s the challenges posed by the WFH scenario or surging hospital demands for protective equipment and respirators, entrepreneurs have confronted an array of problems to solve.
The cryptocurrency community has been a part of this. Witness the surge in DeFi innovation – not exactly saving nurses’ lives but seizing on the opportunity posed by the COVID-related debt problems that loom for centralized finance (CeFi) – or the frenetic efforts of blockchain engineers and cryptographers to build privacy-preserving contact-tracing solutions. As an industry with open-source development at its core, the sector is also something of an enabler of this trend. It fosters an environment of cross-border collaborative invention, which speeds up the entrepreneurial process.
We don’t know where all these ideas will go, but something good will surely emerge from them. Maybe one day we’ll view these dark days more favorably than we do currently.
Iran Amends Law to Allow Imports to Be Funded With Cryptocurrency.One way to read Iran’s embrace of bitcoin to avoid U.S. sanctions is to see it as an advertisement for the cryptocurrency’s core value proposition as a censorship-resistant means of payment requires no third-party intermediation – such as a U.S.-regulated bank. The other way is to see all of that as a reminder of why bitcoin will continue to make U.S. regulators exceedingly uncomfortable. Read Daniel Palmer’s update.
All-In on DeFi: Why the Days of Centralized Exchanges Are Numbered.Binance, the most successful crypto exchange of all time, is based on a centralized model. So, you should sit up and take notice when its charismatic founder and CEO Changpeng Zhao says it’s time to go all-in on decentralized exchanges. Check out the op-ed he penned for CoinDesk.
Bank of Canada Governor Says Digital Dollar Project Moving Past Trial Stage. Canada appears to have come out of nowhere with its digital currency, with its central bankers making increasing noise about the urgency with which they are developing it. Might Canada be on China’s heels with a real-world launch? Report by Sebastian Sinclair.
Avanti Financial Joins Kraken as a Wyoming-Approved Crypto Bank.The woman who almost single-handedly drove a dramatic legislative initiative in Wyoming to turn it into a crypto-friendly jurisdiction, is now reaping the benefits of that work. Caitlin Long, the founder and CEO of Avanti Financial saw its banking charter approved unanimously by the Wyoming State Banking Board on Wednesday, becoming the second newly chartered bank in the state in 2020 after Kraken Financial earned approval last month. Nathan DiCamillo reports.
• Money Reimagined: Who Are the Real Monsters?
• Money Reimagined: Who Are the Real Monsters? || 3iQ’s The Bitcoin Fund Offers Trading Denominated in Canadian Dollars: Class A Shares Quoted Under Ticker Symbol “QBTC” To Trade on The Toronto Stock Exchange
Toronto, Oct. 19, 2020 (GLOBE NEWSWIRE) -- 3iQ Corp. ("3iQ") is pleased to announce that the Class A Units of The Bitcoin Fund will commence trading in Canadian dollars on the Toronto Stock Exchange on October 20, 2020 under the symbol “QBTC.” The Class A Units will trade under their existing CUSIP number. “Finally, Canadian investors have the opportunity to trade The Bitcoin Fund in their native currency and through their locally dominated accounts, thus eliminating the interminable costs and albeit hassle of converting currencies” says Fred Pye, President & CEO of 3iQ.
The Bitcoin Fund’s investment objectives are to provide holders of units with exposure to bitcoin and the opportunity for long-term capital appreciation. The Bitcoin Fund acquires assets from reputable and regulated bitcoin trading platforms and OTC counterparties, in order to provide investors with a convenient, secure alternative to a direct investment in bitcoin. We believe an investment in bitcoin will provide investors with a low-correlated asset class, which will complement traditional investment strategies.
Additionally, 3iQ is excited to welcome Christopher Matta to the company as Managing Director of Sales and Trading, effective October 19th, 2020. Chris is the President and Founder of the Blockchain Association of New Jersey, which advocates for innovative regulatory leadership and enterprise collaboration for the cryptocurrency space. He is the former co-founder of Crescent Crypto, an asset management firm focused on creating innovative investment solutions to bring the cryptocurrency asset class to institutional and mainstream investors. Prior to Crescent, Chris was a Vice President at Goldman Sachs where he managed assets for the Goldman Sachs Philanthropy Fund and Trust Comp. Chris reveals that he is "excited to be joining 3iQ at this pivotal time as the company is rapidly expanding, launching new and innovative products that will make digital asset investing more secure and accessible through a regulated offering.”
About 3iQ
Founded in 2012, 3iQ is a Canadian investment fund manager focused on providing investors with exposure to digital assets, disruptive technologies and the blockchain space. 3iQ was the first Canadian investment fund manager to agree to terms and conditions with the Canadian securities regulatory authorities to manage a public bitcoin investment fund and multi-cryptoasset fund for Canadian accredited investors. Access to these new technologies can be daunting, costly, and inconvenient. 3iQ has worked through a stringent regulatory process to offer investors convenient and familiar investment products to gain exposure to digital assets.
Disclaimer
TheBitcoin Fund (the “Fund”)isoffered pursuant to a prospectus, which should be read carefully before investing. The prospectus can be obtained fromhttps://3iq.ca/the-bitcoin-fund/. Information contained in the prospectus includes the investment objectives and potential strategies of the Fund and other factors which may cause the actual results, performance or achievements of the Fund, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are ongoing fees and expenses associated with owning units ofthe Fund. The Fund must prepare disclosure documents that contain key information about the Fund. You can find more detailed information about the Fund in the final prospectus. The Fund is not guaranteed, its value change frequently and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange (TSX) and the Gibraltar Stock Exchange (GSX). If the units are purchased or sold on the TSX or GSX, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them. The securities of the Fund have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. The prospectus of the Fund does not constitute an offer to sell or the solicitation of an offer to buy securities of the Fund nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful. The Fund is generally exposed to risk factors. See the prospectus for a description of these risks: No Assurance in Achieving Investment Objectives, No Listing, Loss of Investment, Fluctuation in Value of Cryptoassets, Concentration Risk, Reliance on the Manager, Reliance on theCryptoassetConsultant, No Ownership Interest in theCryptoassetPortfolio, Changes in Legislation, Conflicts of Interest, Valuation of the Fund, Significant Redemptions, Limited Liquidity in the Units, Limited Operating History, Not a Fund Company, Exchange Rate Risk, Liquidity Constraints onCryptoassetMarkets may Impact the Fund’s Holdings, Tax Risk, Risks associated with Investing in Bitcoin, Risks Associated with the Bitcoin Network. Index (the “Index”) is the exclusive property of MV Index Solutions GmbH and has been licensed for use by 3iQ Corp. (the “Licensee”). MVIS has contracted withCryptoCompareData Limited to maintain and calculate the Index.CryptoCompareData Limited uses its best efforts to ensure that the Index is calculated correctly subject to the accuracy of any data that has been provided to it by third parties. Irrespective of its obligations towards MV Index Solutions GmbH,CryptoCompareData Limited has no obligation to point out errors in the Index to third parties. In particular, MVIS is not responsible for the Licensee and/or for Licensee’s legality or suitability and/or for Licensee’s business offerings. Offerings by Licensee, may they be based on The Bitcoin Fund, an investment trust governed under the laws of the Province of Ontario (the “Product”) or not, are not sponsored, endorsed, sold, or promoted by MVIS, Van Eck Associates Corporation as its parent company or its affiliates (collectively, “VanEck”), and MVIS andVanEckmake no representation regarding the advisability of investing in Licensee and/or in Licensee’s business offerings. MVIS,VanEckand its affiliates make no warranties and bear no liability with respect to licensee. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.This press release is not for distribution in the United States newswire services or for dissemination in the United States.
Attachments
• Chris Matta
• BitcoinFundLogoBlue
CONTACT: Fred Pye — President & CEO 3iQ Corp. +1 (416) 639-2130 fred.pye@3iq.ca || NEW TO THE STREET to broadcast Show 139 Tomorrow 6 PM est. on Bloomberg Television: NEW YORK, NY / ACCESSWIRE / September 25, 2020 /New To The Street "Exploring The Block" is pleased to be broadcasting on Bloomberg Saturday 9/26 6 PM est. Featuring fetch.ai (FET) ,Somee.social (ONG), Sologenic (SOLO), and NativeCoin(N8V)
This show Number 139 for " New To The Street" marks the 10thyear anniversary producing top business content for the largest television networks on the globe stated Creator and Co-Founder Vince Caruso.
Through the years we have seen our show result in partnerships, market cap appreciation, and overall company growth for our clients totaling over a billion dollars stated Stephen Simon President and Co-Founder.
In addition to Bloomberg broadcast Saturday this show will also broadcast in its entirety on Fox Business Network Monday, September 28that 1030pm pst.
Fetch.ai is broadcasting its third interview and scheduled to film its fourth in series in the upcoming weeks.
Fetch.ai discusses "Mettalex is offering something that is not possible within traditional markets," saidHumayun Sheikh CEO and Founder of Mettalex. "On Mettalex, traders will be able to create tokenized spread contracts for some of the most in-demand commodities on the market with USD/BTC/ETH pairs. At launch, we will support spreads on traditional and digital commodities like compute cycle price, gas costs, cloud compute and more traditional commodities like steel and iron ore, gold and silver, lithium and cobalt, oil, and the stock market index."
Somee.social (ONG) will be appearing in their 4th interview. Actors for Somee discussing.
1. Protecting Data & Content; using Blockchain & Crypto technology, SoMee allows users to post securely without worry of sold information.
2. Gamified and Monetizable; SoMee provides the ability to receive rewards for your actions.
3. Global scale; a platform designed to connect and support humanity through "Social for a Cause."
SoMee is generating a lot of interest in the crypto and social worlds. Why? Because it's combining the latest groundbreaking blockchain technology with the most popular way people interact in the modern age; social media.
Jane King sits down (virtually) with actors Peter Ivanov, Bejo Dohmen, and Nick Dong-Sik who are avid users of this novel platform to gather their perspectives.
Peter Ivanovhas been featured in ABC's episodic TV series "In An Instant" and recently completed filming an independent feature.
Bejo Dohmenis known for several TV shows in Germany such as his latest upcoming pilot "Ready to Rumble" and has also won several awards through the 2020 Academy Award-qualifying, best live-action short film "Kommando 1944."
Nick Dong-Sikis known for "Charlie's Angels", "Iron Sky", "Within the Whirlwind", and Netflix's "Marco Polo", while working alongside A-list actors and is currently working on the German TV series "Helen Dorn".
Discussing everything from how SoMee functions to how the platform may serve artists, Peter, Bejo, and Nick provide their two cents. Here's what we've found out:
SoMee is a blockchain-based, social media platform aimed at evolving the social media community. With a focus on security and monetization, SoMee offers something other platforms like Facebook, Twitter, or Instagram can't; control. Users are now provided with an outlet for their content and data which protects and respects each user's right to control their information and posts, without worry of having information sold.
Not only that, but the users now also have the option to monetize effectively. How? Through community interaction. Currently, users are posting on other platforms and receiving "likes" and "shares", but that's it. Unless you reach "influencer" or "celebrity" status on these platforms and somehow strike a deal with various brands or entities, all you receive is attention in the form of "likes" and "shares." Even if your post goes viral, you may reach a ton of viewers, but still, nothing may come of it.
This is where SoMee comes in. Now, users have the ability to monetize those likes directly, and you don't have to be an "influencer" or "celebrity." If you come up with something cool, creative, or viral, and people take notice, boom; rewarded.
In the interview, Bejo Dohmen also comments on the potential of this system by mentioning that artists could even have a chance to introduce an idea and gain funding through community support. He loves the idea that SoMee allows him to help people with a simple "upvote" which could potentially change someone's life.
Another important point was made by Peter Ivanov when he mentions "Social for a Cause"; SoMee's growing, philanthropic effort to bring the world together by increasing the awareness and assistance of those struggling and in need all around the globe.
SoMee operates on a global scale, so users from around the world have the opportunity to interact with each other. Not only does it connect everyone, but it also provides an opportunity to help users who may be located in fallen economies, war-torn locations, or third-world areas.
Nick Dong-Sik likes to compare SoMee's ONG1 to Bitcoin, stating that he remembers when Bitcoin began, but never seized the opportunity, feeling like he "missed out," but now he's happy to be onboard with SoMee from the beginning.
SoMee is dedicated to taking the social media space to the next level by providing monetization, control, and global community interaction like we've never seen before. The actors all agree that SoMee is the next big thing and is full of potential.
Now is the chance to join the community which could change your life and the lives of anyone anywhere anytime. Don't miss out!
NativeCoin (N8V) Jeff Johnson COO discusses powerful new partnerships in their new extended series .
" NativeCoin has a new partnership coming that will help Indian Country in ways never before thought Possible" stated Jeff Johnson COO
Ferrum:"Ferrum Network is incredibly proud to be partnering with NativeCoin in order to make crypto easy and valuable for their users. Ferrum's Link Drop technology means sending crypto is as easy and secure as sending an email. And our Staking technology means users can earn high yields simply for staking NativeCoin in their wallet. Together we look forward to making crypto easy, valuable and useful for millions of people!" Stated CEO Ian Friend.
SOLOGENIC (SOLO) Featuring Co-Creator Bob Ras who is also the CEO of Coinfield."One of the many problems Sologenic is solving is providing access to the global financial markets using Blockchain technology. We're creating a Hybrid DeFi ecosystem allowing users from different parts of the world to trade and tokenize over 40K+ assets from 30 global stock exchanges within a regulatory framework inside the EU. The tokenization also creates a unique opportunity for users to trade a fraction or full amount of any stock and spend them in real-time via SOLO Cards." Bob Ras, The Co-Creator of Sologenic
About FMW MediaFMW Media Corp. operates one of the longest-running U.S and International sponsored programming T.V. brands "NewToTheStreet,http://www.NewtotheStreet.comand its blockchain show "Exploring The Block."http://www.ExploringTheBlock.com.Since 2009, these brands run sponsored media formatted shows across three major U.S. Television networks. The TV platforms reach over 540 million homes both in the US and international markets.
Twitter @NewtotheStreet @ExploringBlock
CONTACT:For FMW Media:Bryan Johnson631-766-7462Bryan@NewToTheStreet.com
Press Contact:Christopher Kramerckramer@onenameglobal.com
SOURCE:FMW Media Works Corp
View source version on accesswire.com:https://www.accesswire.com/607917/NEW-TO-THE-STREET-to-broadcast-Show-139-Tomorrow-6-PM-est-on-Bloomberg-Television || PayPal's Cryptocurrency Foray Not Ideal But It's Something, Experts React: PayPal Holdings Inc(NASDAQ:PYPL) on Wednesday announced it isstarting to offer cryptocurrencyas a form of payment on its platform. The move has invited mixed reactions from veterans of the digital assets space.
Not Real Bitcoin:Some experts were left unamused over what they judged to be significant restrictions in place on how the cryptocurrency in a Paypal account can be withdrawn or transferred to other users.
Compound Labs General Counsel Jake Chervinskyquestionedif users can't hold their own keys, "is it even Bitcoin?"
Blockchain.com CEO Peter Smith said in an emailed statement to Benzinga that Paypal had taken an “inflexible approach.”
“While we’re excited to see a new audience gain access, a non-custodial approach limits opportunity to self-custody your [cryptocurrency] or transact freely,” said Smith.
Buzz Around Numbers:PayPal says it has 346 millionactive accountsand processed payments to the tune of $222 billion in 3.7 billion transactions in the second quarter.
Social Capital CEO Chamath Palihapitiya suggested PayPal's move could spur further adoption by banks.
CryptoCompare CEO Charles Hayter told CoinDesk that while PayPal’s Bitcoin foray may not be ideal for libertarians “being pragmatic about bitcoin’s trajectory and global adoption penetration rate, this certainly brings more options.”
Jason Deane, an analyst at Quantum Economics termed PayPal’s move as “extremely significant” and said it would expand the cryptocurrency’s “reach at a vastly accelerated level, as well as “drive the development of additional services,” Decrypt reported.
Validation Among Some:There is a sense of validation among some, seeing the increased mainstream adoption of Bitcoin.
“Many early [cryptocurrency] believers, myself included, were de-platformed and censored for buying bitcoin on PayPal, I have a strong sense of vindication seeing them finally come around to the inevitability of cryptocurrency,” Blockchain.com's Smith said.
Bitcoin developer Jameson Lopp said, “You can ignore Bitcoin for a while, but not forever.”
PayPal Treading Caution:Jerry Brito, executive director of Coin Center, told CoinDesk that it is possible that demand for Bitcoin transactions “is not as high” and that perhaps most people want to simply buy and hold the cryptocurrency.
Brito admitted that while PayPal did not have to limit transactions to be compliant with regulations, there are gray areas in the Financial Action Task Force’s Travel Rule and in anti-money laundering enforcement.
“People are finally developing solutions to comply with [the Travel Rule] but [PayPal is] not there yet,” said Brito.
“The easiest thing to do is not engage in transfer and take on that compliance risk,” he added, pointing to the fact that cryptocurrencies would probably be a small part of PayPal’s business.
Stephen Palley, a partner at the Anderson Kill law firm, told Coindesk that PayPal is “going to be cautious, and they’re going to roll it out slowly.”
Nevertheless, there's no convincing the most ardent believers of the decentralized currency. “Don't let PayPal hold your precious bitcoin,” Lopp told his Twitter followers.
Photo courtesy: PayPal Inc.
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || CORRECTION: 3iQ’s The Bitcoin Fund Offers Trading Denominated in Canadian Dollars: This is a correction of a previous press release with a trading date of October 20, 2020. The correct date is October 22, 2020.
Toronto, Oct. 19, 2020 (GLOBE NEWSWIRE) -- 3iQ Corp. ("3iQ") is pleased to announce that the Class A Units of The Bitcoin Fund will commence trading in Canadian dollars on the Toronto Stock Exchange on October 22, 2020 under the symbol “QBTC.” The Class A Units will trade under their existing CUSIP number. “Finally, Canadian investors have the opportunity to trade The Bitcoin Fund in their native currency and through their locally dominated accounts, thus eliminating the interminable costs and albeit hassle of converting currencies” says Fred Pye, President & CEO of 3iQ.
The Bitcoin Fund’s investment objectives are to provide holders of units with exposure to bitcoin and the opportunity for long-term capital appreciation. The Bitcoin Fund acquires assets from reputable and regulated bitcoin trading platforms and OTC counterparties, in order to provide investors with a convenient, secure alternative to a direct investment in bitcoin. We believe an investment in bitcoin will provide investors with a low-correlated asset class, which will complement traditional investment strategies.
Additionally, 3iQ is excited to welcome Christopher Matta to the company as Managing Director of Sales and Trading, effective October 19th, 2020. Chris is the President and Founder of the Blockchain Association of New Jersey, which advocates for innovative regulatory leadership and enterprise collaboration for the cryptocurrency space. He is the former co-founder of Crescent Crypto, an asset management firm focused on creating innovative investment solutions to bring the cryptocurrency asset class to institutional and mainstream investors. Prior to Crescent, Chris was a Vice President at Goldman Sachs where he managed assets for the Goldman Sachs Philanthropy Fund and Trust Comp. Chris reveals that he is "excited to be joining 3iQ at this pivotal time as the company is rapidly expanding, launching new and innovative products that will make digital asset investing more secure and accessible through a regulated offering.”
About 3iQ
Founded in 2012, 3iQ is a Canadian investment fund manager focused on providing investors with exposure to digital assets, disruptive technologies and the blockchain space. 3iQ was the first Canadian investment fund manager to agree to terms and conditions with the Canadian securities regulatory authorities to manage a public bitcoin investment fund and multi-cryptoasset fund for Canadian accredited investors. Access to these new technologies can be daunting, costly, and inconvenient. 3iQ has worked through a stringent regulatory process to offer investors convenient and familiar investment products to gain exposure to digital assets.
Disclaimer
TheBitcoin Fund (the “Fund”)isoffered pursuant to a prospectus, which should be read carefully before investing. The prospectus can be obtained fromhttps://3iq.ca/the-bitcoin-fund/. Information contained in the prospectus includes the investment objectives and potential strategies of the Fund and other factors which may cause the actual results, performance or achievements of the Fund, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are ongoing fees and expenses associated with owning units ofthe Fund. The Fund must prepare disclosure documents that contain key information about the Fund. You can find more detailed information about the Fund in the final prospectus. The Fund is not guaranteed, its value change frequently and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange (TSX) and the Gibraltar Stock Exchange (GSX). If the units are purchased or sold on the TSX or GSX, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them. The securities of the Fund have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. The prospectus of the Fund does not constitute an offer to sell or the solicitation of an offer to buy securities of the Fund nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful. The Fund is generally exposed to risk factors. See the prospectus for a description of these risks: No Assurance in Achieving Investment Objectives, No Listing, Loss of Investment, Fluctuation in Value of Cryptoassets, Concentration Risk, Reliance on the Manager, Reliance on theCryptoassetConsultant, No Ownership Interest in theCryptoassetPortfolio, Changes in Legislation, Conflicts of Interest, Valuation of the Fund, Significant Redemptions, Limited Liquidity in the Units, Limited Operating History, Not a Fund Company, Exchange Rate Risk, Liquidity Constraints onCryptoassetMarkets may Impact the Fund’s Holdings, Tax Risk, Risks associated with Investing in Bitcoin, Risks Associated with the Bitcoin Network. Index (the “Index”) is the exclusive property of MV Index Solutions GmbH and has been licensed for use by 3iQ Corp. (the “Licensee”). MVIS has contracted withCryptoCompareData Limited to maintain and calculate the Index.CryptoCompareData Limited uses its best efforts to ensure that the Index is calculated correctly subject to the accuracy of any data that has been provided to it by third parties. Irrespective of its obligations towards MV Index Solutions GmbH,CryptoCompareData Limited has no obligation to point out errors in the Index to third parties. In particular, MVIS is not responsible for the Licensee and/or for Licensee’s legality or suitability and/or for Licensee’s business offerings. Offerings by Licensee, may they be based on The Bitcoin Fund, an investment trust governed under the laws of the Province of Ontario (the “Product”) or not, are not sponsored, endorsed, sold, or promoted by MVIS, Van Eck Associates Corporation as its parent company or its affiliates (collectively, “VanEck”), and MVIS andVanEckmake no representation regarding the advisability of investing in Licensee and/or in Licensee’s business offerings. MVIS,VanEckand its affiliates make no warranties and bear no liability with respect to licensee. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.This press release is not for distribution in the United States newswire services or for dissemination in the United States.
Attachment
• BitcoinFundLogoBlue
CONTACT: Fred Pye — President & CEO 3iQ Corp. +1 (416) 639-2130 fred.pye@3iq.ca || Bitcoin hits highest level since Jan. 2018 amid post-election volatility: * Bitcoin rises following U.S. presidential election
* World tech stocks and bond markets also extend rally
By Anna Irrera
LONDON, Nov 5 (Reuters) - Bitcoin's price rose to more than $14,900 on Thursday, its highest level since January 2018, amid volatility caused by the U.S. election and investor hopes that more central bank stimulus to support economies hit by the COVID-19 pandemic will push up the value of digital assets.
The biggest cryptocurrency has surged more than 10% since the day of the presidential election, with Democrat Joe Biden edging closer to victory over President Donald Trump.
Bitcoin was last trading 5.4% higher at $14,930.
World tech stocks and bond markets also extended their rally on Thursday.
"Bitcoin is the big winner from the current macro environment" said Anthony Pompliano, a co-founder and partner at cryptocurrency investment firm Morgan Creek Digital Assets. "As we saw coming out of the 2008 liquidity crisis, inflation hedge assets do very well when the Fed steps in with QE."
The Bank of England added 150 billion pounds ($195.20 billion) to its asset purchase programme on Thursday, and the Federal Reserve is expected to signal later that it will do whatever it can to help the U.S. economy.
Bitcoin has been on an upswing over the past few weeks, after digital payments company PayPal Holdings Inc announced it would enable purchases with virtual coins on its platform.
The news bolstered long-standing expectations that bitcoin and its rivals could become a more viable form of payment, a goal that has been elusive.
HOPES PINNED ON FURTHER PRICE INCREASES
Bitcoin investors and enthusiasts are also pinning their hopes of further price increases on more clarity from global financial regulators on rules for cryptocurrencies and increased adoption by mainstream finance firms.
"The once dismissed asset is now acknowledged by traditional finance," said Dave Chapman, a Hong Kong-based executive director at OSL, a cryptocurrency brokerage. "It's not going away, and it has now been afforded the regulatory clarity from regulators, globally."
Blistering rallies are not uncommon in cryptocurrencies, and are generally followed by equally steep crashes, with many experts at a loss to identify a clear cause for changes of direction.
The price of bitcoin soared to more than $20,000 in December 2017 and crashed 50% the following month.
"Bitcoin doesn't go up or down for macroeconomic reasons, like QE or real investor decisions," said David Gerard, a cryptocurrency expert and author of recent book on Facebook-led virtual coin Libra.
"The market is thin and manipulated, and every price change is fully explained by internal market issues." (Reporting by Anna Irrera, Editing by Timothy Heritage) || 21Shares Bitcoin ETP Offered To Scandinavian Investors Via Nordnet AB: 21 September 2020 - Stockholm | Zurich - 21Shares AG , the world’s leading issuer of crypto Exchange Traded Products (ETP), is bolstering its offering to Swedish and Scandinavian investors via Nordnet Bank’s digital platform for savings and investments. As of last week, the two approved Xetra listings of 21Shares are available on Nordnet ' s platform allowing investors to access more transparent and cost effective products with exposure to bitcoin. With the 21Shares Bitcoin and Short Bitcoin ETP, 21Shares is paving the way for further expansion and is committed to providing the highest quality products to a community that is already well established. For the first time, Scandinavian investors are now in a position to take advantage of a product that gives them a positive performance when the price of bitcoin drops for a short period of time as well as a long bitcoin exposure with a low management fees of 1.49% (ABTC) per annum using conventional products they have been accustomed to for many years. This follows the success of its eleven other institutional grade crypto exchange-traded products and further cements its status as the specialist firm having the most expansive regulated product suite of crypto assets listed on stock exchanges in Europe. Scandinavian investors were the first in Europe to enjoy crypto structured products and with time, institutional acceptance filled the market with more manufactured institutional grade products that offer added security, transparency and mostly reduced costs. With over 70% of AuM from institutional investors , 21Shares is delighted to have its products offered via a trusted and recognised broker in Sweden. “Sweden has always been a special place for me as it was the first EU country to allow a bitcoin structure to be admitted on the Nasdaq Nordic exchange back in 2015, it is now time to present the market with the latest engineered products that are fully compliant, transparent and cost effective using crypto as underlyings. We are delighted to be working with Nordnet as their clients have always been keen users of such trading products ” said Laurent Kssis, Managing Director at 21Shares in charge of the Swedish expansion and whose foray into engineered crypto vehicles is not new in the Swedish market having listed ETNs on Nasdaq Stockholm and NGM. Story continues Jacob Lindberg , CEO of the regulated crypto index provider Vinter Capital in Stockholm said: "We welcome additional issuers such as 21Shares to Sweden, the largest and most developed market in Europe for exchange-traded crypto products. With both long and short price exposure to Bitcoin via 21Shares' products you can finally express a prudent approach to bitcoin just like you would in conventional financial markets. Innovative crypto index products are an inevitable next step to further institutionalise the asset class." About 21Shares 21Shares makes investing in crypto assets as easy as buying shares using your conventional broker or bank. Investors can invest in cryptocurrencies using a conventional ETP structure (or tracker) easily, with total confidence and security, cost effectively thanks to the 21Shares suite of ETPs launched by 21Shares and now composed of 11 Crypto ETPs : the 21Shares Crypto Basket Index ETP (HODL), 21Shares Bitcoin (ABTC/21XB), 21Shares Ethereum (AETH), 21Shares XRP (AXRP), 21Shares Bitcoin Cash ETP (ABCH), 21Shares Binance ETP (ABNB), 21Shares Tezos ETP (AXTZ), 21shares Bitcoin Suisse ETP (ABBA), 21Shares Bitwise 10 ETP (KEYS), Sygnum Platform Winners Index ETP (MOON) and 21Shares Short Bitcoin ETP (SBTC/21XS). The entire suite is listed on a regulated framework on the official market of Deutsche Boerse, SIX Swiss Exchange, BX Swiss and some on Boerse Stuttgart in CHF, USD, GBP and EUR respectively. Founded in 2018, 21Shares is led by a team of talented serial entrepreneurs and experienced banking professionals from the technology and financial world. Incorporated in Zug, with offices in Zurich and New York, the company has launched several world firsts, including the first listed crypto index (HODL) in November 2018. 21Shares has 11 crypto ETPs listed today and has over $90 million in AuM in total listed. Press Contact Laurent Kssis +4144 260 8660 press@21Shares.com Disclaimer This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan.This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States.This document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"); or (iv) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (v) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The Securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. In any EEA Member State (other than the Austria, Belgium, Denmark, Finland, France, Germany, Great Britain, Ireland, Italy, Luxembourg, Malta, the Netherlands, Norway, Spain and Sweden) that has implemented the Prospectus Regulation (EU) 2017/1129, together with any applicable implementing measures in any Member State, the "Prospectus Regulation") this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation. Exclusively for potential investors in Austria, Belgium, Denmark, Finland, France, Germany, Great Britain, Ireland, Italy, Luxembourg, Malta, the Netherlands, Norway, Spain and Sweden the 2019 Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com . The approval of the 2019 Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the 2019 Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand. This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.This document constitutes advertisement within the meaning of the Swiss Financial Services Act (the "FinSA") and not a prospectus. In accordance with article 109 of the Swiss Financial Services Ordinance, the Base Prospectus dated 13 November 2019, as supplemented from time to time (the "Base Prospectus") and the final terms for SBTC dated 22 January 2020 (the "Final Terms", and together with the Base Prospectus, the "Prospectus") have been prepared in compliance with articles 652a and 1156 of the Swiss Code of Obligations, as such articles were in effect immediately prior to the entry into effect of the FinSA, and the Listing Rules of the SIX Swiss Exchange in their version in force as of January 1, 2020. Consequently, the Prospectus has not been and will not be reviewed or approved by a Swiss review body pursuant to article 51 of the FinSA, and does not comply with the disclosure requirements applicable to a prospectus approved by such a review body under the FinSA. Copies of the Prospectus are available free of charge from the website of the Issuer. Subject to applicable securities laws, the Base Prospectus and the final terms of any product mentioned herein can be obtained from 21Shares AG on the website. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. || CEXs vs. DEXs: The Future Battle Lines: Since the formal introduction of Ethereum in 2014, the network has exploded with products that allow users to transact directly with one another, without relying on a third party. One of the most common use cases is that of a decentralized exchange (DEX), an idea that dates back to Vitalik Buterin’s unveiling of Ethereum in 2014. Examining the history of how DEXs have evolved can help elucidate where DEXs are headed and how they will compete with centralized exchanges. What’s in a DEX? DEXs come in a variety of forms, but share one common quality: non-custodial. DEXs use smart contracts to manage funds on-chain, so users never have to trust a third party with their money. Related: First Mover: Day in the Life of a Yield Farmer Means Part-Time Gig, Full-Time Risk However, the exchange part of a DEX – the way buyers and sellers find each other – can vary widely from one implementation to another. When thinking about the future of DEXs, it’s helpful to first understand their past. Alex Wearn is the co-founder and CEO of IDEX, a high-performance DEX. He has spent his career in software development, including time at Amazon, Adobe, and IBM. He has been hacking on crypto startups since 2014, transitioning to full time with the launch of IDEX in 2018. The earliest Ethereum DEXs, like EtherEx and OasisDex, built a traditional central limit order book (CLOB) exchange entirely out of Ethereum smart contracts. Developers and users quickly discovered that order management and trade execution are not well suited for a blockchain. In particular, the placing and cancelling of orders by market makers, and the interaction of traders with the on-chain order book, were expensive and error prone due to the high costs and latency of on-chain transactions. Off-chain order books In mid-2016, a new exchange, EtherDelta, innovated on this model by bringing the order book off-chain. This design eliminated the cost of order creation and reduced the latency and gas costs of placing an order. Story continues Related: Open Interest in CME Bitcoin Futures Slides as Market Sapped by Surging DeFi While it was a major improvement, users still incurred costs for canceling orders – a fee which prohibited market makers from providing liquidity at scale. Additionally, takers submitted their own trades to the network, creating on-chain “trade collisions,” with multiple takers competing for the same order. On peak days, up to 30% of trades failed due to these on-chain collisions. Although the first iterations of DEXs faded over time, they were innovative, forward-thinking, and laid the groundwork for models in use today. Off-chain execution, on-chain settlement Improving upon the earliest DEX models, the next generation of DEXs, including IDEX and DDEX, explored a hybrid approach. This design moved both order books and trade execution off-chain. With off-chain execution, users match their own orders but submit them to the exchange, which executes the trade and relays the order to the network for settlement. This approach eliminates the issues of on-chain trade collisions, gas fees for canceled orders, and front-running. This model served as the dominant trading model for almost two years. However, this design is not without flaws. Without a matching engine, trade execution suffers, and gas settlement costs and network congestion remain problematic. Identifying these drawbacks hints at even more user-friendly DEX models in the near future. While this design was garnering the most users and volume, a novel DEX model in Uniswap and Automated Market Makers (AMMs) joined the fray. The rise of automated market makers The AMM design is a creative response to the limits of hosting an order book on-chain. As we’ve discussed, many of the early CLOB DEXs struggled due to the fact that it’s both expensive and slow for users to update their orders using a blockchain. Uniswap responded by removing the order book altogether, replacing it with a simple on-chain formula. This architecture ultimately allowed Uniswap to achieve phenomenal growth. The “always on,” permissionless liquidity made it a great solution for other applications to build on top of. The fully-decentralized architecture has led to a resurgence of ICOs in the form of Uniswap direct listings, as projects can easily deploy their own liquidity pool to jumpstart trading of a new asset. The liquidity pool structure also makes it easy for non-technical users to commit capital and earn a passive reward from trade fees and liquidity mining. See also: What Is DeFi? In spite of these numerous benefits, experts speculate that AMMs in their current form are a mere stepping stone in the path of DEX design, and many question their long-term viability. As a rule, these products provide a less flexible version of market making than their centralized counterparts, and will lag in markets that require sophisticated analytics and human intervention. Despite the many advantages of the Ethereum network, it’s clear that the traditional CLOB exchange doesn’t work well when operating on a decentralized network with such high latency and low throughput. As a result, DEX development will primarily continue down three paths: new types of AMMs, CLOBs on faster chains, and upgraded hybridized models. New AMM models AMMs have played an important role in DEX development, addressing key performance issues by removing the order book altogether and pricing assets using a static, on-chain function. Uniswap deployed the first example of these, the constant product function, which creates a specific type of pricing curve. Competitors like Curve have experimented with different functions, in this case choosing one that is better suited for assets where the market expects the price to be equal, such as stablecoins, or different types of wrapped bitcoin. As these products evolve and address more specific use cases, they will likely be in demand given their on-chain availability and ease of liquidity provision. However, it is unlikely that they supplant CLOBs as the dominant form of trading, as fundamentally they are a less flexible form of exchange than CLOB. It’s been several years since the first iteration of a crypto exchange, but systemic issues remain, creating multi-million-dollar problems for traders. Instead of adapting to the network’s constraints, new projects like Serum are attempting to move to a different network where the constraints aren’t as severe. By using a more performant underlying network, one with higher throughput and faster consensus times, the team hopes to eliminate the UX issues that plague V1 order book DEXs. However, at its core, trade matching and execution is a problem of consensus to determine who came first, which trades should to execute and in which order. A decentralized network, which by design has to come to consensus across a number of different nodes, can never compete at the same level of their centralized counterparts. Hybridized models, like IDEX 2.0, aim to combine the power and performance of a centralized exchange, with the security of decentralized custody and settlement. By pairing the high-performance trading engine of a centralized exchange with the on-chain custody of a DEX, users can get the same trading experience they know and love without having to put their funds at risk. See also: KuCoin CEO Says Suspects in $281M Hack Identified; Authorities on the Case DEXs have come a long way. From clunky on-chain approaches in the earliest days of 2014 to today’s wide variety of options, each evolution in DEXs has come closer to delivering a product capable of both performance and security. Regardless of what flavor they come in, the future will see DEXs challenge centralized exchanges by finally separating the custody from the exchange altogether. It’s been several years since the first iteration of crypto exchange, but systemic issues remain, creating multi-million-dollar problems for traders. Just this week, a hacker drained Kucoin of approximately $150 million in crypto assets. That was closely followed by the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) issuing a number of criminal charges against BitMEX for AML and KYC negligence. All these issues stand as a backdrop to the ongoing battle between CEX and DEX environments. Regulatory and security concerns punctuate the growing need for traders to maintain custody of their assets and comply with regulators. Where CEXs often provide convenience for traders, they often come with security/seizure risk. DEXs, while more absolute in terms of asset control and security, offer little in terms of regulatory oversight. Related Stories CEXs vs. DEXs: The Future Battle Lines CEXs vs. DEXs: The Future Battle Lines || Playboy CEO Sells $25.8 Million Brentwood Mansion to Bitcoin Investor Josh Jones: Around the time he became CEO of Playboy Enterprises, L.A.-based financierBen Kohnbegan the construction of a lavish new estate in L.A.’s Brentwood neighborhood, within one of the area’s only guard-gated communities. Before the house was completed earlier this year, Kohn changed his mind about moving into the mansion — or maybe he intended to flip it all along — because the place was shopped around off-market andtoured by Justin Bieber and Haley Baldwin, who allegedly took a shine to the house and initiated escrow on it, though that deal was ultimately called off. (The high-profile couple eventually paid $25.8 million for a different home, this one high in the mountains above Beverly Hills.)
In June, the Kohn compound popped up on the open market with a $30 million pricetag, and the property quickly sold for $25.8 million — the biggest deal recorded in Brentwood so far this year. The new owners are tech entrepreneur-turned-leading Bitcoin investorJosh Jonesand his longtime wife Tweeny Kau, who already live in the general area but had been seeking a residential upgrade.
Described as a “young and hip Mediterranean” in listing materials, the nearly 9,300 sq. ft. structure was designed by L.A. megamansion specialistWilliam Hefner, with interiors byEstee Stanley. The red-tile-roofed house sports a mesmerizing entryway, with double glass doors that swing into a foyer that opens — via another set of double glass doors — directly to the backyard, where there’s a sprawling lawn and Century City skyline views framed by mature olive trees.
Gorgeous herringbone-patterned hardwood floors flow into the living room, which offers a beamed ceiling with a crystal chandelier and fireplace. Other public spaces have decidedly contemporary finishes, like the formal dining that easily seats 10 and opens to an outdoor terrace. The magazine-worthy kitchen offers book-matched marble walls, designer Bluestar appliances sheathed in a shiny black lacquer, and custom rustic oak cabinetry for contrast. There’s also a family room that opens to a screened loggia with a limestone fireplace.
The master suite, one of five bedroom suites in the house, includes multiple banks of windows with dazzling views of the entire L.A. basin and — on a clear day — the Pacific Ocean, plus a marble-slathered bathroom and dual closets. There’s also an upstairs family room and a carpeted screening room that’s more casual than the typical mansion’s movie theater but perfectly suits the effortlessly luxurious, low-key vibe of the property.
Outdoors, the 1.8-acre hilltop lot boasts al fresco dining area, a substantial gated motorcourt, and a lap-lane swimming pool with inset spa. The aforementioned grassy lawn is big enough for a soccer pitch — just make sure any out-of-bounds balls don’t go flying down the steep hillside.
Jones, a 42-year-old alumnus of Claremont’s Harvey Mudd College, co-founded web hosting service Dreamhost in 1996. Since then, the company has grown to employ 200 and now services over 400,000 customers worldwide. But to the public at large, Jones may be best-known for his earlyinvolvement with Bitcoin, a lucrative investment — Jonesdescribes himselfas a bitcoin “billionaire” — that turned sour after hereportedly had $45 million worth of bitcoin currency stolenfrom him online account, a major theft that was widely reported online.
In addition to his new $25.8 million Brentwood estate, Jones and Kau own at least four other multimillion-dollar homes on L.A.’s Westside, according to property records, all of them in Santa Monica. Their main residence appears to be a $6.2 million Cape Cod-style in a leafy part of the city, while they also own side-by-side teardown houses in the same general area. Shortly after the Brentwood mansion was acquired in July, the two Santa Monica teardown were both put up for sale, asking a total of $11.6 million.
And in 2018, the couple also purchased a plum oceanfront property in Santa Monica that consists of a 1930s cottage sandwiched between two massive neighboring mansions. Records show that demolition permits have since been acquired for the address in question.
Gary Goldof Hilton & Hyland held the listing;David KramerandAndrew Buss, also of Hilton & Hyland, repped Jones.
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 15332.32, 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-10-13]
BTC Price: 249.51, BTC RSI: 65.45
Gold Price: 1165.80, Gold RSI: 63.94
Oil Price: 46.66, Oil RSI: 51.25
[Random Sample of News (last 60 days)]
Bitcoin Takes A Hit In Australia: Bitcoin has gained popularity across the globe in recent years, but concerns about safety have kept the cryptocurrency from becoming a mainstream means of payment. For that reason, banks in Australia have begun to move away from cryptocurrency, deciding last month to close the accounts of 13 of the continent's 17 bitcoin exchanges.
The decision has had a ripple effect on the bitcoin industry in Australia as more and more businesses similarly turn their backs on digital currencies.
Bye-Bye Bitcoin
In Australia, many businesses began accepting bitcoin payments when the coin gained popularity. As the digital payments trend expanded, some firms hoped to use bitcoin in order to tap into a greater pool of potential clients and make it easier for international customers to pay. However, the nation's banks' decision to shut bitcoin exchanges out has led many Australian firms to rethink their decisions. Many worry that the banks are only the beginning of a backlash against cryptocurrencies, and that by participating in the trend they could tarnish their reputations.
Related Link:Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre
Big Blow To Cryptocurrencies
Although cryptocurrencies are still receiving a lot of positive attention in places like Europe and the US, the changing attitude in Australia could put a dent in the industry's momentum. Australia makes up around7 percentof bitcoin's $3.5 billion global value, a significant portion. Not only will a negative attitude toward bitcoin affect the Australian market, but it could spread further afield. Some worry that the negative reputation could eventually influence the opinions of consumers and lawmakers in other countries as well.
See more from Benzinga
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• Is Europe Recovering Or Not?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Innovation ETFs: Real Deal Or Gimmick?: [This article previously appeared in ourSeptember issue of ETF Report.]
Technological innovations are so integrated into our lives that we don’t think about their impact. Beyond the latest electronic gadget, technology has enhanced everything from medicine to food.
Within the past 12 months, several new exchange-traded funds debuted promoting the idea that innovation is an investable theme. These funds are more than simple technology sector ETFs; rather, their idea of innovation is to look at companies using technology to push their industry forward. In fact, many of these companies aren’t necessarily considered technology firms; instead, they inhabit other sectors like energy or health care.
The biggest of these funds in terms of assets under management by far is theiShares Exponential Technologies ETF (XT), based on the Morningstar Exponential Technologies Index. It’s backed by fund manager Ric Edelman, founder and chief executive officer of Edelman Financial, who seeded the fund with about $560 million after its launch.
There are two other fund families focusing on technological innovation. ARK Investment Management’s funds include four actively managed ETFs: theARK Genomic Revolution Multi-Sector ETF (ARKG | D-36),ARK Industrial Innovation ETF (ARKQ | D-44),ARK Web x.0 ETF (ARKW|D-29)andARK Innovation ETF (ARKK | D-32). ARKK contains all three of the other ARK innovation funds. Meanwhile, the newly launchedGavekal Knowledge Leaders Developed World ETF (KLDW) and theGavekal Knowledge Leaders Emerging Markets ETF (KLEM)follow Gavekal’s Knowledge Leaders indexes.
There is some debate about whether technological innovation is an investment theme, and it may just be pure coincidence that within the space of a year several funds launched based roughly on the same idea without being clones of each other. Technology certainly has blurred the lines regarding the categorization of certain firms based on their business lines—think of Tesla being a car companyandfocused on energy storage. Yet at least one industry watcher said the name “innovation” is just growth with better marketing.
Another Paradigm Shift?Managers of these funds said when thinking broadly about innovation, consider how the advent of different technologies changed life over the centuries, such as the printing press, the steam engine and electricity.
Edelman said previously he went to iShares to create a fund focusing on “new economy” companies, a fund that would include everything from robotics to artificial intelligence to energy and environmental systems to medicine. Innovation is neither a market sector nor a geographical issue, but a fundamental theme. Given recent technological breakthroughs, he has said, this fund could not have existed even a few years ago.
XT launched March 23 and has about $689 million in assets under management. Information technology and health care make up the bulk of the fund, a little more than 60% combined, with 67% of the companies domiciled in the U.S. It has an expense ratio of 0.47%.
Targeting ‘Disruptive’ TechnologyXT has the most assets under management of the innovation funds, but it wasn’t the first on the scene. ARK Investments’ fund ARKQ launched on Sept. 30, 2014, ARKW launched on Oct. 7, 2014 and ARKG and ARKK launched Oct. 31. These funds focus on the theme of “disruptive” technology.
Tom Staudt, associate portfolio manager at ARK, says the funds look at what they call “general purpose technology platforms” that will drive the economy across sectors. Those platforms include cloud computing and big data, automation and robotics, and genomic sequencing.
For a larger view, please click on the image above.
All four funds have expense ratios of 0.95% and have a heavy domestic tilt, with at least 71% of holdings in U.S. companies. By sector breakdown, ARKW has 77% in technology; ARKQ is 56% technology-focused; ARKG is 80% focused on health care. ARKK holds all three funds and comprises 48% ARKW, 31% ARKQ and 20% ARKG.
As of July 20, assets under management were $14 million for ARKQ, $13.1 million for ARKW, $9.7 million for ARKG and $7.7 million for ARKK.
At first blush, the funds appear to be heavily weighted in technology or health care, but Staudt says they’re really cross-sector funds that fit into a portfolio’s growth allocation. The funds’ construction takes advantage of the blurry lines of classification across sectors. For instance, investors who own theTechnology Select Sector SPDR Fund (XLK | A-90), don’t own Amazon, the largest cloud provider in the world.
“The reason they don’t is because [Amazon] is considered a consumer-discretionary company. They don’t have Netflix, the largest streaming-video provider in the world. Why? It’s consumer discretionary,” he said.
Staudt doesn’t necessarily consider innovation to be a new investment idea, but he suggests the current interest in innovation comes from buyers getting comfortable again with technology investing as a whole after dealing with “scar tissue from the tech and telecom bust” that started in 2000.
A Semiconductor SparkSteven Vannelli, chief investment officer for Gavekal Funds, says they trace back the idea of technological innovation influencing everyday life to the introduction of the semiconductor and how computing power grew.
The exponential growth in computing technology is commonly known as Moore’s law, named after Gordon Moore, co-founder of Intel.
The semiconductor’s influence is seen in what Gavekal calls “the knowledge effect,” and Gavekal built indexes around companies using this to change how their industries develop. The KLDW and KLEM ETFs are based on those benchmarks. Launched July 8, the funds each have $2.5 million in assets under management as of July 20.
Companies using the knowledge effect outperform less innovative companies, Vannelli says, and part of that is due to how the U.S. Financial Accounting Standards Board forces firms to expense their knowledge investments in the period in which they were incurred. This doesn’t allow companies to treat knowledge investments as assets—unlike the way physical objects are accounted—so it skews what information investors have, he says.
Gavekal picks the firms for their funds by reorganizing what’s publically recorded on a company’s balance sheet and treats investments in intellectual property the same way a company might treat equipment.
Growth Rebranded? …Christian Magoon, chief executive officer of YieldShares, and an industry veteran who launched many ETFs, is skeptical about whether innovation is a true investment theme.
“If you launched a ‘growth-leaders fund,’ there would be yawning in the marketplace. But if you launched an ‘innovation fund,’ people would say ‘oh, innovation, that’s interesting.’ It has a little bit of a branding/marketing feel to it,” he said.
Paul Britt, senior analyst at FactSet, says investors interested in an innovation fund need to look closely at the holdings, because some of them contain big-cap names rather than small- or midcap firms most people associate with innovation, noting the PureFunds ISE Mobile Payments ETF (IPAY) as an example.
“That’s hot and trending, and I’m picturing a bunch of college kids in a loft somewhere cooking these things up. But if you look under the hood, the top holdings [in IPAY] are Visa, MasterCard and Amex. You’re thinking ‘how innovative is that?’” he said.
Britt agrees that blunt sector classification is becoming fuzzy, such as in the Amazon and Netflix examples. He said investors wanting a nuanced approach should review a firm’s revenue attribution to understand what portion is actually focused on the potential innovation theme.
“That speaks to the classification notion of what these companies are, and what bucket you put them in,” he said.
What makes these ETFs stand out a bit is that they may hold some names not normally represented in traditional indexes, Magoon says, since many leading innovation firms usually have smaller market caps or are emerging companies. He says these are likely more volatile stocks, so owning a basket of 20 or 30 companies in a diversified ETF is less risky than owning, say, a biotech sector ETF.
One thing to consider about these funds is their expectations that they will target future growth, Britt says.
“It’s one thing to name these companies; it’s another thing to say that these things are going to outperform the market—that the market has underpriced them. At end of the day, they might not outperform Nabisco or something else,” he said.
The overall market is currently rewarding growth, which benefits these ETFs, Magoon says, but if value investing becomes popular, it’s hard to say how it will affect the funds.
Britt says investors could get some perspective on innovation funds by looking back at what was hot a few years ago, such as renewable energy. He used thePowerShares Global Clean Energy Portfolio (PBD | D-23)as an example of a fund that is down significantly from its highs.
“That’s innovation, but it’s not so fresh. It may give you a little perspective on what will it feel like in five years when we’ve moved on to the next thing. Some of these funds will be with us, some not,” he said.
… Or A Lasting Theme?Certainly, XT, the largest of these funds, has a heavy growth tilt, though it’s not at all a pure growth vehicle. If you look at the Morningstar classifications of the holdings, 46% of the portfolio is in growth stocks, with 32% in blend and 21% in value. In other words, more than half of the fund is in nongrowth stocks. By contrast, 33% of theSPDR SandP 500 ETF (SPY | A-98)is classified as growth.
However, advisors using the funds would beg to differ with the growth characterization. John Eberle, chief investment officer of Fiduciary Financial Partners, notes that he’s been using the firm’s actively managed mutual fund since not too long after it launched, and that he would be moving some of those assets into the ETFs. The ETFs, he points out, don’t need to maintain cash reserves, unlike the mutual fund, which at times has roughly 20% of its assets in cash. Eberle also doesn’t see Gavekal’s approach as a growth-oriented strategy.
“I could see these being perceived as more growth-oriented, but I would think of it in a different way. They’re trying to define an asset that’s not defined in the balance sheet, like intangibles,” Eberle said, adding that he considers himself to be a value investor, as he believes growth expectations are frequently overestimated.
“Whether the intellectual capital is generated internally or through MandA, it shouldn’t make a difference. Value or growth, what they’re getting is an asset that is—or more to the point, isnot—on the balance sheet that will generate revenue and profit opportunity that other people are not accounting for,” he said.
For Ric Edelman, who was the main driving force behind XT, the growth characterization seems to be purely coincidental. He notes that growth qualities were not a part of the selection methodology.
“The fund was designed to contain companies that are leaders in using or developing exponential technologies, and growth was not a criteria,” he said.
And while Edelman doesn’t think the launch of seven similarly themed funds within the space of a year was necessarily a coincidence, he’s not convinced it’s a widespread trend, adding that he’s not aware of any other similar funds in development. He is, however, a firm believer in the exponential technologies theme that underlies XT.
“I’m convinced that this particular theme is very important for investment portfolios, and will increasingly be viewed as an essential part of any asset allocation model,” he said.
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Permalink| © Copyright "datETF.com.All rights reserved || IBM Gets Behind Blockchain: While bitcoin and other cryptocurrencies have struggled to find mainstream appeal, blockchain, the ledger like technology that they run on, has been touted as one of the most important technological advancements of the past decade. The system has the ability to facilitate transactions in a way that many say will transform more than just the financial industry. That idea is now being put into practice by tech giant International Business Machines Corp. (NYSE: IBM ), as the company announced that it is working to use the technology to create a "smart contracts" system. Related Link: Buy Some Bitcoin With This ETF Smart Contracts The Wall Street Journal reported that IBM Research Senior Vice President Arvind Krishna said that the firm is working on a way to develop blockchain technology into a system that can facilitate contracts. The system is expected to eventually be released as open-source software and will likely give other big name companies reason to look into using the technology. Improving Business Transactions IBM's smart contracts system won't include the use of cryptocurrencies, but will instead draw on blockchain's ability to track individual transactions but keep the details private. The idea is to allow companies to embed rules into their contracts and allow the blockchain system to enforce them. One example the company is looking into would be a system that automatically pays for goods once they are delivered, however the possibilities for using the technology could reach into several aspects of business operations. See more from Benzinga IBM Uses Tennis To Demonstrate Its Dominance In Data U.S. Tech Firms Hope To Have A Say In New EU Digital Market Rules iBusiness, iPrograms: Apple Stretches Its Legs © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Your first look for Friday: The " Fast Money " traders revealed what's on their watch list. Dan Nathan was watching the Nikkei 225 (Nihon Kenzai Shinbun: .N225) . Steve Grasso had theiShares Nasdaq Biotechnology ETF ( IBB ) on his radar. Brian Kelly was looking at the iShares 20+ Year Treasury Bond ETF (NYSE Arca: TLT) . Guy Adami had his eye on the CBOE Crude Volatility Index ( ^OVX ) . Trader disclosure: On September 10, 2015 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is long QQQ Oct put spread, XBI sept put spread, TWTR, PG. Steve Grass is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, STRP, T, TWTR, GDX, firm is long BP, COP, CVX, FCX, NE, NEM, OXY, RIG, WYNN, AMZN His kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Yen, Yuan, US Treasuries. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || Overstock to Buy SpeedRoute for More Transparent Trading: Online retailer Overstock.com, Inc. ’s OSTK cryptofinance subsidiary, t0, has signed a deal to acquire SpeedRoute and related group of privately held financial technology companies. Though the terms of the deal have not been disclosed, the total purchase price will be paid in cash and Overstock common stock. The acquisition of certain assets remains subject to regulatory requirements, with the majority of the deal already closed. SpeedRoute LLC, founded in Apr 2000, is a brokerage firm that currently handles approximately 2.5% of U.S. equity order flow. Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger. Cryptosecurities will likely be the next major change in the stock market. With this deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and its underlying technologies will help the company to connect t0 securities trading platform with the entire U.S. equity market. This will bring in more transparency and efficiency to the existing capital markets, which was the basic idea behind t0.com. The blockchain technology allows investors and buyers to trail down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of the securities. In June, Overstock offered its first corporate bond, valued at US$25 million, as cryptosecurities to qualified institutional investors. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici. Overstock.com is engaged in selling branded as well as non-branded merchandise through its websites. Customers can bargain before purchase and often get discounts. A major portion of its revenues is generated in the U.S. In the last reported quarter, the company’s earnings of 7 cents missed the Zacks Consensus Estimate by 46.15%. Currently, Overstock has a Zacks Rank #4 (Sell). Some better-ranked stocks in the technology sector are Amazon AMZN, Stamps.com STMP and Travelport Worldwide Limited TVPT. All these stocks sport a Zacks Rank #1 (Strong Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMAZON.COM INC (AMZN): Free Stock Analysis Report OVERSTOCK.COM (OSTK): Free Stock Analysis Report STAMPS.COM INC (STMP): Free Stock Analysis Report TRAVELPORT WWD (TVPT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Flow to Establish State-of-the-Art Customer Call Centre of Excellence Bringing More Than 300 New Jobs to Jamaica: KINGSTON, JAMAICA--(Marketwired - Aug 31, 2015) - Flow, the newCable & Wireless CommunicationsPlc (CWC) consumer retail brand, today announced plans to establish a new, state-of-the-art Customer Call Centre of Excellence in Kingston, Jamaica and create more than 300 full-time jobs over the next two years. The innovative Customer Call Centre of Excellence is part of the Company's bid to become the leader in service excellence and revolutionise customer experience across the Caribbean.
The Customer Call Centre of Excellence, to be established in the coming months, follows the recent merger with Columbus International Inc and is part of Flow's new compelling plan to provide an enhanced customer experience. This initiative is also consistent with plans laid out by CEO Phil Bentley last year that will see C&W invest US$1.5bn over 3 years to upgrade infrastructure and overhaul service delivery throughout the Caribbean and Latin American region.
"Through investments like these, we are putting the customer at the heart of the business," said Bentley. "We are committed to anticipating their needs at every contact point and to delivering a customer care experience that is unparalleled across the region. Together, with our other existing Call Centre in Trinidad, we will revolutionise customer service in the Caribbean, and be the leader in recruiting the best talent in the region. We want Flow to be a business that everyone in the Caribbean is proud of," said Bentley.
Branded as an innovative Customer Call Centre of Excellence, the facility is being designed to provide customers with multiple touch points including warm and friendly service agents, Email, Virtual Chat, Mobile App and other technology-enabled support systems.Combined with increased service agent efficiencies, state-of-the-art technology tools will improve call routing and reduce call waiting time, making for an overall superior customer experience.
Managing Director, Flow Jamaica, Garry Sinclair is extremely pleased that the new Centre will be located on the island. "It is a testament to the growing confidence of Jamaica as a central hub for investment, the large pool of skilled labour that exists here, and the rapid growth of the ICT sector led by Flow, that we are making this investment here in Kingston." He added, "In addition to the investment in the new Customer Call Centre of Excellence, Flow is also investing in the best mobile and fibre networks across the island to deliver more technologically advanced quad play products, better value, and superior broadband connectivity to exceed our customers' expectations." Sinclair also stated that, "We are excited to recruit the best team on the island for this Centre and we will implement an extensive training programme to deliver an incomparable customer experience."
Responding to the announcement, Hon. Phillip Paulwell, Minister of Science, Technology, Energy and Mining commended Flow's decision to establish the Customer Call Centre of Excellence in Jamaica. "The establishment of Flow's Customer Call Centre of Excellence in Jamaica attests to the tremendous growth potential of the nation's ICT sector and affirms Flow's commitment to development of the local and regional economies. With the commitment to create new jobs, the investment also supports the country's goals to reduce unemployment, builds new skill sets and advances the country's vision to make Jamaica a place of choice to live, work, raise families and do business."
Since 2012, the Jamaican Government has had an ongoing drive to engage the private sector in the 'Jamaica Employ' programme, which seeks to increase prospects for job seekers and to bring critical new jobs to the island. "We love doing business in Jamaica and we are happy to partner with the Government in their various initiatives, including the 'Jamaica Employ' programme," Phil Bentley concluded.
About Cable & Wireless Communications:
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information please visit:www.cwc.com || MarilynJean Interactive (MJMI.QB) Today Announced Cancellation of Over 15% of Its Free Trading Shares: HENDERSON, NV / ACCESSWIRE / October 1, 2015 / MarilynJean Interactive ( MJMI ) today announced cancellation of 21,183,000 Common shares representing 10.9% of its issued and outstanding share total and 15.75% of its free trading shares. As previously disclosed, on July 11, 2012, the Company issued 42,385,500 units at $0.01/unit, each unit consisting of one common share and one fourth of one common share warrant exercisable at $0.50 and one half of a common share warrant with an exercise price of $1.00. All warrants associated with these units have since expired and none were exercised before expiration. On October 1, 2015 we have cancelled and returned to treasury 21,183,000 Common Shares, pursuant to Return to Treasury Agreements entered into with certain shareholders. The shareholders voluntarily agreed to cancel the shares and return them to treasury for consideration of promissory notes totaling $155,915. The notes are due and payable upon completion of a financing by our company in excess of $375,000. Peter Janosi, MJMI's president said: "In addition to the over 100,000,000 convertible preferred shares that were cancelled last week, today's share cancellation brings the total reduction to over 42% of the Company's previous fully diluted share total. By significantly reducing the Company's free trading shares, we believe we have further increased the Company's potential to access capital and grow its business." MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. MJMI is currently exploring partnerships with several existing Bitcoin and crypto-currency exchanges as well as manufacturers and operators of BitcoinATMs. Such a combination would place the company in an exciting position to offer an end to end solution for trading in various crypto-currencies and potentially capture a share of the lucrative markets of Bitcoin trading and remittance services, just as these markets appear poised to undergo massive growth. Story continues About Bitcoin and Crypto-Currencies Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting." Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: bonnie@marilynjean.com SOURCE: MarilynJean Interactive || MarilynJean Interactive (OTCQB: MJMI) Sets Its Sights on $24B Philippines Remittance Market: HENDERSON, NV / ACCESSWIRE / October 12, 2015 / MarilynJean Interactive ( MJMI ) today announced it has entered into advanced discussions with a provider of Bitcoin-based remittance services. The potential remittance partner is a fully licensed money services business on the cutting edge of the remittance space, using Bitcoin to effect low cost transfers, primarily to the Philippines. With a well-established brand, multiple Bitcoin ATMs, solid financial partnerships in the Philippines, MJMI's management is excited about the potential synergies that could result from this relationship. In 2014, according to Focus Economics, remittances to the Philippines hit a record high, exceeding USD 24 Billion, accounting for roughly 8.5% of that country's GDP. Those funds came primarily from overseas workers sending funds home to their families. Traditional remittance companies charge upwards of 8% fees on the total funds being sent, in addition to less than favorable exchange rates and taking up to 3 days to clear for pick up. Using Bitcoin, transfers can be effected in virtually real time at a fraction of the cost to the user. Funds can be sent directly to the recipient's bank account or made available for pick up at a partner location or even via a card-less ATM withdrawal. In a Bitcoin based remittance transaction, an overseas worker would deliver funds to a remittance provider. This service provider would buy Bitcoin on behalf of the customer and then transfer the coins, paying less than 1% to do so, to the selling partner in the recipient country. The selling partner would then sell the Bitcoins and then transfer the funds to the final recipient. Because there is a price difference between the buying and selling of the Bitcoins, it is possible for the two transfer partners to profit sufficiently from the Bitcoin trade to offer the transfer service for a significantly lower fee than any traditional currency (known as FIAT) based remittance service. Story continues Bitcoin therefore offers the potential to completely alter the landscape of worldwide money transfers. The two companies share a vision on the massive opportunities in this space as well as on the future direction of expansion, namely servicing the remittance markets in Mexico and India. In addition, both companies agree that acquiring and operating a Bitcoin exchange would allow the partners to offer a seamless, end to end solution to customers. More sophisticated clients could eventually use their own Bitcoin wallets to move money through a jointly designed system, allowing them to effect transactions from their mobile phone through a licensed and trustworthy remittance system. Peter Janosi, MJMI's president said: "We are very excited to be in advanced discussions with this potential remittance partner. They are at the forefront what we expect will be a massive shift in the way global remittances are effected. Their team shares our view that remittance fees are exorbitantly high and that current providers profit excessively by offering poor, often hidden, exchange rates. We believe that, in this area, Bitcoin has tremendous promise to disrupt a system that unfairly charges high rates to hard working people who have left their families to work overseas in hopes of providing them with a better life. We believe the growth potential in this sector is massive and that we are on the right track in terms of identifying the right partners who share our vision." MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. MJMI is currently exploring partnerships with several existing Bitcoin and crypto-currency exchanges as well as manufacturers and operators of Bitcoin ATMs. Such a combination would place the company in an exciting position to offer an end to end solution for trading in various crypto-currencies and potentially capture a share of the lucrative markets of Bitcoin trading and remittance services, just as these markets appear poised to undergo massive growth. About Bitcoin and Crypto-Currencies: Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting." Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is ( MJMI ). Website: http://www.marilynjean.com/ Press Contact: bonnie@marilynjean.com SOURCE: MarilynJean Interactive || What Oil Recovery?: Oil prices have been on the decline this year as the global supply glut continues to weigh on markets. Despite some signs of falling production, most analysts still see a relatively gloomy future for the commodity in the near term, but long-term investors are looking for a bottom in order to find some bargain buys within the sector.
Where Are Prices Headed
A survey by theWall Street Journalshowed that analysts are becoming increasingly bearish on the price of oil through 2016. The 13 investment banks questioned all cut their average forecast for Brent crude oil in the coming year by about $9. The banks said they see both Brent and WTI prices remaining below $60 well into the coming year.
Who Survived?
While oil producers have taken a beating this year, refiners likeValero Energy Corporation(NYSE:VLO) andPhillips 66(NYSE:PSX) may have actually benefited from lower crude prices. Not only did the commodity's downward trajectory increase their margins, but the demand for cheaper refined products like diesel increased as consumers felt more comfortable driving further and purchasing higher consumption vehicles like SUV's and trucks.
What About The Long Term?
While most analysts agree that 2016 isn't looking much brighter for crude, they also say that oil won't be down in the dumps forever. The ultra low prices seen in today's market are unsustainable, and producers are already starting to feel the burn.
Data from the U.S. Energy Information Administration has shown that U.S. production is on the decline and many expect it to continue that way until prices improve. It may take awhile, but many investors are betting that oil will make its way back toward $70 and $80 per barrel in the longer term.
See more from Benzinga
• What To Expect From Xi Jinping's Visit To The US
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• Bank Of America Prepares For Bitcoin Revolution
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || ACKMAN: The US government is perpetrating 'the most illegal act of scale' with Fannie and Freddie: (Screenshot)Bill Ackman, founder of Pershing Square Capital.
Hedge fund titan Bill Ackman, founder of $19 billion Pershing Square Capital Management, slammed the US government Tuesday night for keeping all the profits from mortgage guarantors Fannie Mae and Freddie Mac.
Ackman called it "the most illegalact of scale" he has ever seen the US government do.
Ackman spoke Tuesday evening during a panel at Columbia University for the launch of Bethany McLean's new book"Shaky Ground." McLean and former Fannie Mae CEO Frank Raines were also panelists. Ackman, however, did most of the talking.
During the financial crisis, Fannie and Freddie needed massive bailouts and were taken over by the government.It has been seven years since the financial crisis and the companies are still in a state of conservatorship.Today, thegovernment-sponsored enterprisesmake billions in profits, all of which goes directly to the Treasury.
Ackman, the largestshareholder of Fannie and Freddie, and other investors aresuing the US governmentfor takingproperty for public use without just compensation.
He said: "And there is no way they will not be allowed to stand, from a legal point of view. And the reason for that is if the US government can step in and take 100% of profits of a corporation forever, then we are in a Stalinist state and no private property is safe — and take your money out of every financial institution, put it into gold or Bitcoin and just get the hell out because we're done, maybe the clothes on your back, but other than that nothing is safe."
(Thomson Reuters)
In Ackman's view, Fannie and Freddie are vital to the US economy. Right now, he said, the biggest threat to the US middle class is rising rental rates.
"If you don't own a home, and you're a member of the middle class, you have a problem," he said. "This is the biggest threat to the middle-class livelihood is that your cost of living, the roof over your head is not fixed, it's floating."
Ackman said Fannie and Freddie were set up to make middle-class housing more accessible. Together, they have enabledwidespread availability and affordability with the 30-year, fixed-rate, prepayable mortgage — a system that has been in place for 45 years.
Ackman said he's optimistic about the future of Fannie and Freddie. He has said before that withthe right reformsthey could be worth a lot more. He has given the GSEs a price targetranging between $23 and $47, which is well above the current $2 range.
Watch the full panel below:
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[Random Sample of Social Media Buzz (last 60 days)]
Current price: 211.93€ $BTCEUR $btc #bitcoin 2015-08-19 10:00:02 CEST || 1 #bitcoin 709.9 TL, 236.421 $, 211.939 €, GBP, 15702.00 RUR, 28704 ¥, CNH, 317.71 CAD #btc || Current price: 203.01€ $BTCEUR $btc #bitcoin 2015-08-31 06:00:04 CEST || ★MONA/JPY
0~19.9【もなっくす】
14~14.1【Zaif】
★MONA/BTC
0.00047~0.00050【AllCoin】
0.00049~0.00054【もなとれ】
0.00049~0.00049【bittrex】
00:30現在 || 1 #bitcoin 724.6 TL, 235 $, 210.680 €, GBP, 16000.00 RUR, 28277 ¥, CNH, 320.01 CAD #btc || #Bitcoin last trade
@bleutrade $266.00
@btcecom $227.77
@cryptsy $255.25
Set #crypto #price #alerts at http://AlertCo.in || Current price: 230.42$ $BTCUSD $btc #bitcoin 2015-09-22 20:00:03 EDT || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $43.74 #bitcoin #btc || Current price: 215.13€ $BTCEUR $btc #bitcoin 2015-10-06 04:00:04 CEST || In the last 10 mins, there were arb opps spanning 12 exchange pair(s), yielding profits ranging between $0.00 and $52.23 #bitcoin #btc
|
Trend: up || Prices: 251.99, 254.32, 262.87, 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Is Now Classified as a Commodity in the U.S.: Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the Commodity Futures Trading Commission (CFTC), which has started to clamp down on unregistered firms that trade derivatives of the cryptocurrency.
The CFTC stated Thursday that it had ordered bitcoin options trading platform Coinflip, and its CEO Francisco Riordan, to cease trading due to it not registering and complying with its regulations. It added that it had also filed, and simultaneously settled, charges against the San Francisco-based firm.
This might mean a nervous couple of months for other unregistered bitcoin derivatives firms in the U.S. but also signaled that the cryptocurrency will now come under the CFTC's scope.
"CFTC holds that bitcoin and other virtual currencies are a commodity covered by the commodity exchange act," the regulator said in a statement Thursday.
Aitan Goelman, the CFTC's director of enforcement, added that "while there is a lot of excitement surrounding bitcoin...innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets."
Francisco Riordan was not immediately available for comment when contacted by CNBC.
Bitcoin is a virtual currency that allows users to exchange online credits for goods and services. While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining.
As well as bitcoin exchanges and wallet services, a small but growing sector of derivatives firms selling products based on the digital currency have also sprung up in recent years. Crypto Facilities was set up in the U.K. this year by former bankers from Goldman Sachs, Morgan Stanley, BNP Paribas and Societe Generale.
The platform pitches itself as a broker which specializes in bitcoin derivatives, and trades financial products like options and futures which are directly linked to the price of the cryptocurrency. Thus, it allows users to "go long" and bet that the price of bitcoin will rise, or "go short" and bet the price will fall.
Technology enthusiasts, regulators and economists have been pondering how to pigeon hole bitcoin since its emergence in 2009. In August 2013, the German Finance Ministry classified it as a "unit of account", meaning it is can be used for tax and trading purposes in the country and is like "private money." || Patients To Benefit From Latest Tech Trends: For years, the medical industry has evolved alongside the tech space as new technology gave doctors the ability to treat patients in ways they never thought possible. Now, the latest trends in the tech space are making their way to patients to help treat illnesses and aid in recovery in new and innovative ways. Virtual Reality Virtual reality headsets have been a hot topic this year after Facebook Inc (NASDAQ: FB )-owned firm Oculus revealed an affordable, consumer friendly version of the technology. Many said the latest developments in VR are likely to benefit the medical community by providing new doctors with training simulations, but therapists say there is a use-case for the goggles in treating mental health patients as well. Related Link: Virtual Reality Becomes An Actual Reality With New Oculus Headset Virtual Reality Experiences Therapists and counselors say that using virtual reality to put patients in difficult situations could help them deal with some of their problems in a safe environment. The technology could be used for all kinds of mental health patients from those suffering from Post-Traumatic Stress Disorder to people with debilitating fear or anxiety. Not only would virtual reality give existing patients a new way to cope with their problems, but the new technique could encourage those suffering from mental disorders to attend therapy. Big Data Another growing field in the tech space has been data analysis and consumer products firm Johnson & Johnson (NYSE: JNJ ) intends to put that information into the hands of patients. Together with International Business Machines Corp. (NYSE: IBM ) and Apple Inc. (NASDAQ: AAPL ), Johnson & Johnson said it plans to create a new app that will use health data to give patients a virtual coach. The app will use artificial intelligence to sort through thousands of data points in order to predict patient outcomes and give users treatment suggestions. Initially, the company plans to release one such app geared toward knee-replacement patients and its effectiveness will be measured by the rate of hospital re-admissions, but eventually the service could be offered to a wide range of patients. Image Credit: Public Domain See more from Benzinga Facebook Looks To Take Over TV Advertising Net Neutrality Gets Tricky When You Talk About Global Access Bank Of America Prepares For Bitcoin Revolution © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Goldman Sachs Still Likes Barclays Among European Banks; Upgrades Credit Suisse: • Since 2008, European banks have gone through multiple strategic cycles and goals which were subsequently not met.
• Jernej Omahen of Goldman Sachs says "this time feels different" and banks' objectives and targets can now be achieved.
• Top picks in European banks include:Credit Suisse Group AG (ADR)(NYSE:CS) which was maintained at a Buy rating and added to the Goldman Sachs Conviction List, andBarclays PLC (ADR)(NYSE:BCS) which remains Conviction Buy rated.
Back in 2008 many European banks set out ambitious strategic goals and financial objectives that were subsequently not met, marking a pattern that repeated itself - until now.
In a note published Tuesday, Jernej Omahen of Goldman Sachs stated that "this time feels different" with the CEOs ofDeutsche Bank AG (USA)(NYSE:DB), Credit Suisse and Barclays having "changing incentives" and can deliver growth better than its peers.
Related Link:Is Europe The New Home For Bitcoin?
Omahen said the CEOs of the major European banks are "new and outsiders at the same time" and their incentives to persist with previous failed strategies and "ambitious" targets are low. At the same time, their incentives to implement new strategies and three-year achievable plans are "high."
European banks are still "strained" by regulators and their capital positions "need to improve further." Using this as a starting point, Omahen suggested that the banks need their strategies to focus on costs and the best, highest-return businesses. The analyst expanded that this is an option as "most likely" at Credit Suisse and "less so" at Barclays.
Rating And Price Target Changes
(Note: The analyst's coverage and price targets are based on European-listed exchanges, not their respective U.S.-based ADRs).
Shares of Credit Suisse remain Buy rated and were added to the Goldman Sachs Conviction List with a price target raised to SFr 32.50 from a previous SFr 30.80.
Shares of Deutsche Bank remains Neutral with a price target lowered to €33 from a previous €34.60.
Shares of Barclays remain Conviction Buy rated with a price target raised to p345.0 from a previous p335.0
Shares of UBS were downgraded to Neutral from Buy with a target raised to SFr 21.10 from a previous SFr 20.70.
Latest Ratings for BCS
[{"Aug 2015": "May 2015", "Investec": "Berenberg", "Upgrades": "Downgrades", "Sell": "Hold", "Buy": "Sell"}, {"Aug 2015": "Jul 2014", "Investec": "Macquarie", "Upgrades": "Upgrades", "Sell": "Neutral", "Buy": "Outperform"}]
View More Analyst Ratings for BCSView the Latest Analyst Ratings
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 10 things in tech you need to know today: (REUTERS/Robert Galbraith)
Good morning! Here's the tech news you need to know to start off your week.
1.Netflix will no longer be able to show high-profile Hollywood movies like Transformers and the Hunger Games to US viewers.Netflix isn't renewing its distribution deal with Epix, and will be focusing on its original-content efforts instead.
2.Apple is reportedly planning a big increase in the price of the new Apple TV.The new version of Apple TV will be available in October and could cost about $200.
3.The US may have to go after the 'Great Firewall' to stop China's cyber-attacks.President Obama is expected talk to hisChinese counterpart Xi Jinping next month about cyber espionage.
4.Minecraft founder Markus Perssonwent on a tweetstorm this weekend to talk about the empty side of success, and selling his company to Microsoft for $2.5 billion.Microsoft bought Minecraft almost a year ago, and the founder did not join Microsoft after the sale.
5.Uber has hired the two security researchers famous for hacking into a Jeep and stopping it while driving.Charlie Miller and Chris Valasek will be announced as new hires today, Reuters reports.
6.In the wake of his company's data breach, Ashley Madison CEO Noel Biderman has resigned.He is no longer with the company.
7.Apple launched two new Apple Music TV ads last night during the MTV Video Music Awards featuring The Weeknd and actor John Travolta.The two-part, episodic series of ads highlights Apple Music's user interface, and its playlist feature in particular.
8.Investors are starting to worry that some big-name startups are overvalued.Investors in late-stage startups worry that the stock market's six-year bull run is coming to an end, and that today's super valuable private tech companies won't live up to their valuations when they go public.
9.Starting tomorrow, Google Chrome will be blocking Flash ads entirely by default.Google, which warned advertisers in advance, says it's blocking Flash ads for its performance-hindering effects.
10.Wall Street is paying attention to Bitcoin.The New York Times reports thatexecutives from more than 12 large banks gathered earlier this year to confidentially discuss how the technology behind Bitcoin could be used to changeforeign currency trading.
NOW WATCH:2 texting tricks you didn't know you could do on your iPhone
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• A leaked part of an iPhone 6S shows a bigger, more powerful front camera || Uber's Food Delivery Service Could Become A Big Part Of Business: The ride-sharing serviceUberrecently rolled out a new service called UberEATS, which customers in certain cities can use to order prepared meals. At first, the offering appeared to be a pilot program that was testing the waters for a wide-scale rollout, but a recent update to the company's app suggests that UberEATS could play a more prominent role in the company's business plan.
Front And Center
Uberupdatedits mobile app so that customers in New York City, Los Angels, Toronto, Austin, Chicago, Barcelona and San Francisco can easily access the UberEATS ordering screen from the home page.
Before, UberEATS was located on a separate screen with other Uber programs, but now the service has its own button for easy access.
Related Link: Get To Know UberEATS
What Does It Mean?
The button's location won't change the company's food delivery service, but it could hint at Uber's intentions for the future.
Some say the new prominent location suggests that Uber is getting serious about expanding on food delivery. Others believe that the new location is a way for the company to get more people to try the service out. Uber has also rolled out offers, like free delivery in NYC, to get more people to use UberEATS.
Expanding Its Reach
Uber's expansion into the food delivery space aligns the company's aim to become an urban logistics giant. Uber execs appear to be bent on turning what began as a taxi service into a comprehensive logistics solution that can deliver anything from a package to a cup of coffee quickly and easily.
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• European Markets Still Uncertain With Greek Elections On The Horizon
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || XBT Provider AB: Bitcoin Tracker EUR to start trading on Nasdaq Nordic today: Stockholm, SWEDEN (October 5th, 2015) -XBT Provider AB is proud to announce the launch of Bitcoin tracker Euro.
Starting today anyone with a brokerage account connected to Nasdaq Nordic can trade the ETN "Bitcoin Tracker EUR" The ticker code is Bitcoin XBTE. ISIN: SE0007525332
Bitcoin Tracker EUR is designed to mirror the return of the underlying asset, U.S. dollar (USD) per Bitcoin. The product is an exchange traded note designed to track the movement of the underlying asset after fees.
Bitcoin Tracker EUR is our second Bitcoin-based security available on Nasdaq Nordic. XBT Provider launched this financial instrument to meet the needs of investors` growing appetite for exposure to Bitcoin prices.
"Bitcoin tracker EUR" (BTE) is listed on Nasdaq Nordic in Stockholm and traded in the same manner as any share or instrument listed on the Nasdaq exchange in Stockholm. BTE is also available via Bloomberg terminals through the ticker code COINXBE.
The full prospectus is available onxbtprovider.com
Bitcoin Tracker EUR is issued under the same prospectus as Bitcoin Tracker One which isapproved by Sweden`s financial supervisory authority, Finansinspektionen.
ABOUT XBT PROVIDERXBT Provider AB (publ) is a public limited liability company formed in Sweden with statutory seat in Stockholm. The issuer is incorporated under Swedish law and registered with the Swedish companies` registration office under registration number 559001-3313.
ABOUT THE MARKET MAKER: MANGOLD FONDKOMMISSIONMangold Fondkommission is a Stockholm based Brokerage and Investment bank. As a member of Nasdaq Nordic the company assists XBT Provider with clearing services and acts as a liquidity provider for Bitcoin Tracker One and Bitcoin Tracker EUR.
FOR FURTHER INFORMATION, PLEASE CONTACT
Alexander MarshE-mail:alexander.marsh@xbtprovider.com
Johan WattenströmE-mail:johan.wattenstrom@xbtprovider.com
Press release (PDF)
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: XBT Provider AB via GlobeNewswireHUG#1956529 || Cannabis Sativa Inc and THC Farmaceuticals’ Subsidiary, Terpene Research Labs (TRL) to Produce Terpenes Based on CBDS’ Patent Pending Strain: MESQUITE, NV / ACCESSWIRE / September 18, 2015 /Cannabis Sativa Inc (CBDS) and THC Farmaceuticals, Inc (CBDG) announced today that they have entered into an agreement for TRL to develop for CBDS terpene based products from CBDS' patent pending stain of Cannabis known as "CTA."
As part of the agreement CBDG shall pay CBDS 10,000,000 hempcoins for the non-exclusive right to sell products TRL produces from the CTA strain plus a 5% cash royalty. CBDG will pay 35% royalty to CBDS on all fees or other gross revenues it receives from licensing products for others to produce products using CTA genetics.
CBDS shall retain the right to sell the same products under its "Hi" brand (or such other of its brands in its sole discretion) and will pay a 5% royalty to TRL for all products sold using the terpene products developed by TRL.
CBDS shall pay a royalty at the rate of 35% of gross revenue to CBDG for all terpene products developed by TRL and licensed by CBDS to other parties.
CBDS also transfers to CBDG all rights to the CTA products developed by TRL for distribution outside of North America.
CBDS granted CBDG a 3 year option to acquire all of the CTA plant and patent rights outside of North America for an additional 10,000,000 hempcoins. The option begins to run from the time that the first hempcoins are delivered to CBDS. Should this option be exercised, CBDG will then pay a royalty of 3% of gross revenues received from with respect to products produced by or for CBDG or any of its affiliates and 20% on all royalties it receives.
The US Commodity Futures Trading Commission ruled yesterday that "[t]he definition of acommodity[being] broad... Bitcoin and other virtual currencies are encompassed in the definition and properly defined as commodities," the agency has turned our newest earned asset into a commodity.
About Terpenes;Terpenes (/ˈtɜrpiːn/) are a large and diverse class of organic compounds, produced by a variety of plants.
About Hempcoin: Hempcoins (HMP) is a litecoin type crypo-commodity that can be mined and is backed by shares of $RMTN. See:http://www.hempcoin.com.
About CBDS:Cannabis Sativa, Inc. is in the business of branding and licensing via its 'hi' intellectual properties. The Company also offers the Wild Earth Naturals line of CBD Water and cosmetic products which are designed to use organic and natural ingredients, including CBD and hemp seed oil. The Company is engaged through its subsidiaries, Kush and Hi Brands International, Inc., in the research, development and licensing of specialized natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems.
This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Contact Information:
Investor RelationsMesquite, NV 89027702-345-4074
http://www.cbds.com
SOURCE:Cannabis Sativa, Inc. || Caribbean's Next Top Model Set for Season 2 Premiere: MIAMI, FL--(Marketwired - Oct 15, 2015) - On October 19, young women from all over the Caribbean will begin chasing their dreams of success as career models, when the second season of Caribbean's Next Top Model (CNTM) makes its premiere on Flow TV. Cable and Wireless, which operates both the Flow and LIME brand, is the premium sponsor for the show's sophomore season, which will run for 11 episodes, starting on October 19. The Caribbean reality show is based on the successful original production -- America's Next Top Model. This regional program follows the stories of young women seeking to launch a career in the competitive world of modelling, and is produced and presented by Wendy Fitzwilliam, a former Miss Universe, successful model and entrepreneur. "We are extremely excited to be partnering with Wendy Fitzwilliam and her Caribbean's Next Top Model team," said John Reid, President of the C&W Communications, Consumer Group. "We are not just committed, but we are also proud to support Caribbean producers who generate quality local content for the region." Reid also noted that customers now have more options to access the exciting regional programme across multiple platforms, including their TV and other smart devices, where the mobile option was available. Customers in Jamaica, Trinidad, Barbados, Cayman, and Curacao will also be able to access the show at their convenience using Flow's Video on Demand (VOD) feature. Aside from the many viewing options, Flow customers, will also be able to participate in other exciting promotions including weekly SMS competition to win a new iPad, tablet, or other great prizes. Commenting on the partnership, Fitzwilliam said, "It is so refreshing when a corporate entity recognises the need for support and undertakes the responsibility of enabling the development of Caribbean talent and content -- Flow has definitely got it right. With Flow you get more -- CNTM's fans will get a wholesome entertainment experience, one that is as interactive and engaging as possible. With Flow's quad play technology, viewers can truly enjoy the upcoming season to the fullest extent." Story continues Caribbean Next Top Model will be broadcast simultaneously on the Flow TV platform across the region on Monday nights from October 19 at 7:30 p.m. in Curacao, Jamaica, Cayman Islands and at 8:30 p.m. -- in Trinidad, Jamaica, Barbados, St. Vincent and the Grenadines, Grenada, St. Lucia, Antigua and Barbuda and The Bahamas. As the season unfolds, each CNTM episode will first air on Flow TV and will then air on other stations, five days after the initial Flow airing. Season Two of Caribbean's Next Top Model will premiere with a star-studded fashion event at the Betsy Hotel on South Beach, Miami on October 19. About C&W Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc on 31 March 2015, C&W now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, C&W provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity and a growing suite of wholesale managed services. C&W has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; Video 460k and Broadband 665k) as well as over 125k corporate clients and 225 wholesale customers across 42 countries. The Company's leading brands include: LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. C&W is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programs. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . || Your first look for Friday: The " Fast Money " traders revealed what's on their watch list. Dan Nathan was watching the Nikkei 225 (Nihon Kenzai Shinbun: .N225) . Steve Grasso had theiShares Nasdaq Biotechnology ETF ( IBB ) on his radar. Brian Kelly was looking at the iShares 20+ Year Treasury Bond ETF (NYSE Arca: TLT) . Guy Adami had his eye on the CBOE Crude Volatility Index ( ^OVX ) . Trader disclosure: On September 10, 2015 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is long QQQ Oct put spread, XBI sept put spread, TWTR, PG. Steve Grass is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, STRP, T, TWTR, GDX, firm is long BP, COP, CVX, FCX, NE, NEM, OXY, RIG, WYNN, AMZN His kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Yen, Yuan, US Treasuries. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || Colorado Prepares For Green Wednesday: On Wednesday, September 16, Colorado's marijuana enthusiasts will enjoy a one-daytax holidayin which the state's 10 percent tax on cannabis products will be repealed.
The prospect of buying tax-free pot has the state's drug users gearing up for a shopping spree and has prompted dispensaries to offer deep discounts reminiscent of traditional retailer's Black Friday deals. With the holiday just under a week away, Colorado's pot scene is already preparing.
Tax Glitch
Green Wednesday is the result of a loophole in the Colorado tax law which requires the state to refund some taxes if revenue exceeds estimates. Recreational pot is taxed at 10 percent in Colorado, but on September 16, that tax will be waived and shoppers will pay only the 2.9 percent sales tax that is applied to all goods bought within the state. Shoppers will have to pay any taxes applied by the local jurisdiction in which the retail marijuana is sold.
Colorado also has a 15 percent state excise tax, which is applied to sales or transfers from a retail marijuana cultivaton. A discount on this tax will not be applied to shoppers.
Related Link:Marijuana Posts A Major Win On The Campaign Trail
The holiday will make an ounce of marijuana about $20 cheaper than normal and is expected to cause Colorado's government to lose out on $3 to $4 million worth of revenue.
Huge Turnout Anticipated
Dispensaries and pot-related businesses are expecting a huge turnout on Wednesday as consumers bulk up their supply or marijuana while the drug is cheap. To lure the crowds into their businesses, many are offering additional price cuts to celebrate the tax holiday.
Colorado's oldest and largest dispensary, The Grass Station, will give customers who enter the store before 9:16 a.m. ET a 50 percent discount on their entire purchase and will offer a 10 percent discount for the remainder of the day.
See more from Benzinga
• Wall Street Joins The Bitcoin Movement
• Investors Look To China For Bargain Buys
• Phone Carriers Hoping To Profit From New iPhone
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 12 exchange pair(s), yielding profits ranging between $0.00 and $870.59 #bitcoin #btc || Cotización #bitcoin = $4081.00 MXN | $248.72 USD #BitAPeso 1 USD = 16.41MXN http://www.bitapeso.com
#fintech || BTCTurk 723.25 TL BTCe 237.409 $ CampBx $ BitStamp 238.53 $ Cavirtex 317.68 $ CEXIO 241.00 $ Bitcoin.de 214.93 € #Bitcoin #btc || Current price: 228.39$ $BTCUSD $btc #bitcoin 2015-08-30 09:00:01 EDT || Current price: 148.8£ $BTCGBP $btc #bitcoin 2015-09-15 23:00:04 BST || Current price: 231.22$ $BTCUSD $btc #bitcoin 2015-08-31 12:00:02 EDT || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000004
Average $1.0E-5 per #reddcoin
04:00:01 || BTCTurk 750.2 TL BTCe 263.994 $ CampBx $ BitStamp 266.00 $ Cavirtex 344.68 $ CEXIO 269.50 $ Bitcoin.de 236.94 € #Bitcoin #btc || [Bitcoin] Bitcoin and United States Dollar: 0.0100 BTC = 2.42 USD
1.00 USD = 0.0041 BTCConverter #YAF || In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.00 and $159.30 #bitcoin #btc
|
Trend: up || Prices: 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-10-23]
BTC Price: 12931.54, BTC RSI: 79.89
Gold Price: 1902.00, Gold RSI: 48.33
Oil Price: 39.85, Oil RSI: 47.83
[Random Sample of News (last 60 days)]
Market Wrap: Bitcoin Falls to $11.1K; Ethereum Miners at Record Fee Percentage: Bitcoin took a dive Wednesday. Ethereum miners are benefiting from all that DeFi. Bitcoin (BTC) trading around $11,396 as of 20:00 UTC (4 p.m. ET). Slipping 4.8% over the previous 24 hours. Bitcoin’s 24-hour range: $11,159-$12,058 BTC above its 10-day moving average but below the 50-day, a sideways signal for market technicians. Read More: Bitcoin Price Drops 4% After Latest Rejection at $12K Resistance Bitcoin dropped to as low as $11,159 on spot exchanges like Coinbase Wednesday. The fall was exacerbated by long-oriented derivatives traders on exchanges like BitMEX. That platform experienced $9 million in sell liquidations in one hour as prices fell, the equivalent of a margin call in the cryptocurrency world. Related: First Mover: As Bitcoin Falls for Second Day, Long-Term Holders Probably Won't Care Alex Mascioli, head of institutional services at crypto brokerage Bequant, said long traders were convinced bitcoin’s price would surpass 2020 highs but instead were wiped out. “Bitcoin still needs to break above its previous high at $12,400 to have enough serious momentum to have a chance of retesting previous highs,” he said. There is a chance that next time bitcoin hits that price level it could head into higher territory, approaching 2020 highs around $12,475, Mascioli added. “For now, $12,400 is the most important resistance level the bulls must take out. The technicals appear as if the bulls may retest this level in the next week.” Read More: Total Value on Bitcoin’s Lightning Network Sets Another Record High Meanwhile, the rise of decentralized finance, or DeFi, gives hardcore bitcoin holders an opportunity to profit even when price moves are bearish on days like Wednesday. Related: Bitcoin Plunges $403 in 1 Hour to Lowest in a Month “The DeFi market is giving long-term bitcoin holders a chance to increase their yields and return,” said Zachary Friedman, chief operating officer for Global Digital Assets. Story continues However, some traders aren’t convinced DeFi can maintain its status quo, and that is reflected in bets on the options market for ether ( ETH ). Based on probabilities, options traders have 66% confidence ether will be over $400 by September 20 maturity, but that number drops to 48% by December 20 maturity. “I have a sneaky feeling that ETH options are going to be in play given the amplifying uncertainty brought about by variables such as yETH and the punitive gas fees,” said Vishal Shah, an options trader and founder of derivatives exchange Alpha5. yETH is a product from Yearn.Finance that allows ether holders to deposit the crypto and gain yield by leveraging various other DeFI projects. Read More: Open Positions in Deribit’s Ether Options Hit Record High Above $500M Ethereum mining hits record fee percentage Ether, the second-largest cryptocurrency by market capitalization, was down Wednesday, trading around $436 and slipping 8.5% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Uniswap Topples Coinbase in Trading Volume The percentage of revenue Ethereum miners receive from fees has hit an all-time high. It crossed the 70% threshold Tuesday as DeFi projects that run on the network are pushing gas prices, the unit of account for transactions and smart contract interactions, to fresh highs . While fees are a problem, many stakeholders say this cost inherent to Ethereum is a better price to pay than in the traditional financial world. “The DeFi market removes one crucial intermediary – the bank,” said Global Digital Asset’s Friedman. “With fewer parties taking a cut, and much more transparency, as well as a collateralized lending system ensuring high levels of security, all the benefits of lending can fall onto the lender and thus remove the majority of costs,” he said. Read More: Yearn.Finance’s New Vault Leverages DeFi ETH, MakerDAO and Curve Other markets Digital assets on the CoinDesk 20 are all in the red Wednesday. Notable losers as of 20:00 UTC (4:00 p.m. ET): 0x (ZRX) – 10.4% zcash (ZEC) – 10.3% eos (EOS) – 10.2% Read More: Police Reportedly Raid Headquarters of South Korea’s Largest Exchange Equities: In Asia the Nikkei 225 ended the day in the green 0.47% as August manufacturing and unemployment numbers were better than investors expected . In Europe, the FTSE 100 climbed 1.3% as a Bank of England deputy governor told the U.K. Parliament the central bank could increase quantitative easing if needed . The United States’ S&P 500 gained 1.7% on positive economic news; human resources provider ADP reported private payrolls grew by 428,000 in August . Read More: Senate Banking Chairman Asks OCC About Its Planned Crypto Rulemaking Commodities: Oil is down 3.4%. Price per barrel of West Texas Intermediate crude: $41.53. Gold was in the red 1.3% and at $1,942 as of press time. Read More: Newly Discovered Malware Has Arsenal of Tricks to Help It Steal Crypto Treasurys: U.S. Treasury bond yields slipped Wednesday. Yields, which move in the opposite direction as price, were down most on the 30-year, in the red 3.1%. Read More: Ethereum Classic Labs Airs New Plan to Stop Future 51% Attacks Related Stories Market Wrap: Bitcoin Falls to $11.1K; Ethereum Miners at Record Fee Percentage Market Wrap: Bitcoin Falls to $11.1K; Ethereum Miners at Record Fee Percentage || Bitcoin Down Almost 10% Today, Youll Be Surprised to Hear Whats Next: RESEARCH HIGHLIGHTS: Bitcoin collapsed near Triple Fib Amplitude Arcs is this a sign of pending reversal for other assets? It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. The $8k level would be the next downside price target. Beyond that, possibly $7k or even $6k. Gold and Silver will move lower before going higher as a potential price collapse in Bitcoin suggests general market fear is hitting all global assets. As other assets decline in valuation levels, the US Dollar will likely be viewed as the strongest currency to own and rise. Many of you are familiar with my teams advanced study of Fibonacci Price Theory and our use of our proprietary Fibonacci Price Amplitude Arc indicators. This technical analysis theory is a combination of Nikola Teslas Mechanical Resonance theory and traditional Fibonacci Price Theory. We believe the innate frequency of price action (once found), can be used to identify future critical inflection points in price. In this case with Bitcoin, three unique Fibonacci Price Amplitude Arcs aligned within 5 days to present a very real price inflection point. The recent collapse in the price of Bitcoin may be inherently related to the frequency of price from past peaks and troughs using our advanced Fibonacci Price Theory. We found it interesting that Bitcoin prices stayed below $10k through most of June and July, when other Fibonacci Price Amplitude Arcs crossed price, then began to move higher after the last Price Amplitude Arc completed near July 20, 2020. After that Fibonacci Arc completed, the only Fibonacci Price Amplitude Arcs present in the future were the Triple Fibonacci Arcs shown on this Daily Bitcoin chart (below). Our team also believes that once Bitcoin cleared the previous Fibonacci Arcs, a bit of a reprieve took place in price where a moderate upside price rally too place. As we neared the Triple Fibonacci Arcs, price activity muted and reversed. Could it be that price reacts to frequency levels we are not seeing on the charts? Story continues The Weekly BitCoin chart, below, highlights many of the origination points (peaks and troughs) of the Fibonacci Price Amplitude Arcs. We anchor them to price peaks or troughs as a way to use and study them, measuring critical price waves (up or down) using Eclipse drawing tools, then drag them and anchor them to current or past peaks or troughs. Then we study the levels to determine if the frequency of price validity is accurate or not. If we believe we have drawn a Fibonacci Price Amplitude Arc that is valid, well keep in on the chart for future reference. We believe this current Triple Fibonacci Arc pattern may be present in other symbols given how the US stock markets have reversed recently. It may be that these critical price inflection points operate across major indexes like tides in the ocean work across multiple ports and harbors. When a big or critical Fibonacci Price Amplitude Arc hits, we believe it results in a broad market reaction. If this breakdown in Bitcoin Continues, the $8k level would be the next downside price target. Beyond that, possibly $7k and maybe as low as $6k. We will have to see how Bitcoin reacts to this Triple Fibonacci Price Amplitude Arc and how deep price corrects at this time. It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. We also believe Gold and Silver will move lower as a price collapse in Bitcoin suggests general market fear it hitting all global assets. The US Dollar may attempt to form support as well because of this move. As other assets decline in valuation levels, some primary currency will likely be viewed as the strongest alternative asset this will likely be the US Dollar. Eventually, after what we believe could be a moderate downtrend in Gold and Silver, precious metals will begin to move dramatically higher as foreign currency and Bitcoin prices continue to fall. Capital will always seek out the best, least risky, investment solutions at times of chaos and risk. If Bitcoin becomes highly volatile and continues to fall, then alternate assets present very real opportunities. Isnt it time you learned how I can help you better understand technical analysis as well as find and execute better trades? If you look back at past research, you will see that my incredible team and our proprietary technical analysis tools have shown you what to expect from the markets in the future. Do you want to learn how to profit from these expected moves? If so, sign up for my Active ETF Swing Trade Signals today! If you have a buy-and-hold or retirement account and are looking for long-term technical signals for when to buy and sell equities, bonds, precious metals, or sit in cash then be sure to subscribe to my Passive Long-Term ETF Investing Signals to stay ahead of the market and protect your wealth! Chris Vermeulen Chief Market Strategist Technical Traders Ltd. NOTICE AND DISCLAIMER: Our free research does not constitute a trade recommendation or solicitation for our readers to take any action regarding this research. It is provided for educational purposes only. This article was originally posted on FX Empire More From FXEMPIRE: European Equities: A Week in Review 04/09/20 Bitcoin Down Almost 10% Today, Youll Be Surprised to Hear Whats Next GBP/JPY Weekly Price Forecast British Pound Gives Up Gains Silver Weekly Price Forecast Silver Gives Back Early Gains for the Week Natural Gas Price Prediction Prices Rise as Weather Concerns Remain E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis Technical Bounce Could Lead to Test of 11803.75 || Should You Invest in Bitcoin & Blockchain ETFs?: (2:15) - Why Should Investors Consider Bitcoin? (7:30) - Can Bitcoin Become A Mainstream Currency? (10:45) - How Can You Assign A Value To Bitcoin? (14:20) - Grayscale Bitcoin Trust: GBTC (22:15) - Will The SEC Approve A Bitcoin ETF Anytime Soon? (28:30) - What Is Blockchain Technology and Why Is It So Important? (32:20) - Reality Shares Nasdaq NexGen Economy ETF: BLCN (41:30) - Why Has The Adoption Of Blockchain Been So Slow? (48:25) - Episode Roundup: Podcast@Zacks.com In this episode of ETF Spotlight, we focus on bitcoin and blockchain ETFs. Bitcoin has seen renewed interest of late since it has surged more than 50% this year. Blockchain is the technology that underpins bitcoin and other cryptocurrencies. In the first part, my guest is Michael Sonnenshein, Managing Director at Grayscale Investments, the world’s largest digital currency asset manager. In the second part, I speak with Eric Ervin, CEO of Reality Shares, about the best performing blockchain ETF of 2020. The Greyscale Bitcoin Investment Trust GBTC acts as a bitcoin fund but is not an ETF. Several ETF providers have filed for cryptocurrency ETFs, but all those applications have been rejected by the SEC so far. Shares of GBTC, which are eligible to be held in certain IRA and other brokerage accounts, however, usually trade at a premium to its NAV. Michael talks about the investment case for bitcoin, its role in an investment portfolio and making sense of its value. The notoriously volatile asset, which is still trading significantly below its all-time high of about $20,000 reached in late 2017, could get a boost from ultra-loose monetary policies. Blockchain is a very powerful technology that has many applications beyond cryptocurrencies. The Reality Shares Nasdaq NexGen Economy ETF BLCN, one of the first ETFs to focus on this technology, has gained about 33% this year. Overstock OSTK, Nvidia NVDA, Square SQ and DocuSign DOCU are among its top holdings. Story continues Tune into the podcast to learn more. Make sure to be on the lookout for the next edition of ETF Spotlight! If you have any comments or questions, please email podcast@zacks.com. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Overstock.com, Inc. (OSTK) : Free Stock Analysis Report Square, Inc. (SQ) : Free Stock Analysis Report Reality Shares Nasdaq NexGen Economy ETF (BLCN): ETF Research Reports Grayscale Bitcoin Trust (GBTC): ETF Research Reports DocuSign Inc. (DOCU) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / August 29, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
About ALT 5 Sigma Inc.
ALT 5 is a tech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
For more information, visitwww.alt5sigma.com.
Contact:
Andre BeauchesneTel. 1-800-204-6203info@alt5sigma.com
For more information on ALT 5 Pay, visitwww.alt5pay.com.For more information on ALT 5 Pro, visitwww.alt5pro.com.
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/603929/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || GBP/JPY Weekly Price Forecast – British Pound Gives Up Gains: TheBritish poundinitially tried to rally during the week but gave back the gains to show signs of exhaustion. Ultimately, the market is likely to see selling on rallies in the short term, unless there is more of a “risk reversion” in other words, people would be looking to buy anything risk appetite. I think the last couple of days have been rather drastic, at least in some of the risk appetite markets that most people follow. The NASDAQ 100 has gotten absolutely crushed, just as the S&P 500 has. This tells you that there is a lot of fear out there when it comes to risk appetite, so with that in mind it makes sense that this pair would follow right along as the Japanese yen is considered to be a “safety currency.”
From a technical analysis standpoint, the 200 week EMA has offered significant resistance, near a massive supply zone so I think all of this lines up quite nicely. I am not saying that this pair breaks apart here, just that it will more than likely try to break down below the ¥140 level and perhaps try to find support again at the ¥138 level where we had rallied from two weeks ago. Either way, you can expect a lot of volatility now that vacation season is over, and more traders are coming back to work. The alternate scenario of course is that the market turns around to break above the top of the shooting star for the week, which would be a massively bullish sign.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Oil Traders Under Pressure, as Seasonal Effect on Crude Oil Markets Come to Play
• Gold Price Forecast – Gold Markets Continue to Show Current Area
• Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next
• Silver Weekly Price Forecast – Silver Gives Back Early Gains for the Week
• Crude Oil Price Forecast – Crude Oil Markets Breakthrough Moving Averages
• Silver Price Forecast – Silver Markets Pull Back Into the Weekend || Atari Seeks New Cachet With Crypto — And a Return to Hardware: (Bloomberg) -- As Microsoft Corp. and Sony Corp. prepare to launch their new video-game consoles, another legendary player, Atari, is readying its first new hardware in more than 20 years. The Atari VCS will come with a twist -- a way for gamers to spend a cryptocurrency while they play.
First teased several years ago and expected to ship in November, the Atari VCS is being called a mini-console or a gaming computer. The product will offer access to more than 100 Atari arcade games and home classics, like Pong, plus new titles. It will have internet connectivity and let consumers buy products using Atari Tokens, which will go on sale in late October.
“We have a brand, we have a following -- we think we are going to get some attention in any case,” said Chief Executive Officer Frederic Chesnais, adding that his competition is more the iPhone than an Xbox or PlayStation. “After that the product has to be good.”
On Oct. 29, Bitcoin.com Exchange will start selling $1 million worth of Atari Tokens for 25 cents apiece to retail investors outside of the U.S. The tokens will be used for in-game purchases and for partner games, as well as eventually in the broader gaming ecosystem if Atari’s effort to create a standard currency for the industry bears fruit. The company is also working on a gaming stablecoin, which won’t be as volatile as most tokens. But it isn’t close to launch, said Chesnais, who led Atari out of its 2013 bankruptcy.
The push is part of Chesnais’s seven-year effort to revitalize Atari SA, making it more modern and relevant. While Atari’s predecessor companies raised a whole generation of gamers with arcade and home titles like Asteroids and Missile Command in the 1970s and 1980s, it has long been sidelined by stronger, bigger rivals. The company has been split into pieces, merged and emerged from bankruptcy. Today’s Atari is tiny, with only about 20 staffers. Its Paris-traded shares have languished below 50 cents since 2018, when the company announced a cryptocurrency effort.
But Chesnais has great ambitions for Atari, which largely hinge on nostalgia for the brand.
“The consumer going for the retro systems is different than what the new consoles are targeting,” said David Cole, CEO at digital entertainment researcher DFC Intelligence. “And yes, that is an opportunity.”
So far, more than 11,500 people have preordered the new hardware through the crowdfunding site Indiegogo, where Atari ran a campaign for the player and took in more than $3 million.
The company is facing economic headwinds. While Covid-19 has led to a surge in people staying home and playing games, many millions have lost their jobs or fear losing them. That could limit their spending this holiday season and push consumers to opt for major players’ new consoles, instead.
There’s also the pricing. Atari’s all-in bundle, which includes an 8-gigabyte Atari VCS, a wireless controller, a wireless classic joystick, and 100 classic arcade and console games, costs $390. The Xbox Series S starts at $300.
“I am kind of pessimistic, to be honest, because you are going head to head with Xbox and PlayStation 5,” said Lewis Ward, an analyst at researcher IDC. “Obviously if you are a huge fan of Atari games, there’s always a nostalgia basis. But simply on a price-to-value ratio, I don’t see how this becomes more than a niche product.”
Covid-19 had already delayed the VCS -- it was previously scheduled to ship in March. What’s more, Atari faces looming competition even in the retro category. Intellivision Entertainment plans to release its Amico player early next year with a starting price of around $249. That player “is looking more impressive,” Cole said.
Atari’s foray into cryptocurrencies could also be hit or miss. Past efforts to marry tokens with video games haven’t panned out. The good news is that cryptocurrency enthusiasts are also gamers. If Atari’s tokens do take off, they could be an “on-ramp for a major increase in crypto use,” according to Aaron Brown, a crypto investor who writes for Bloomberg Opinion.
“We’ll see how it plays up,” Chesnais said. “We don’t need to sell millions in the beginning, it’s a long-term effort.”
For more articles like this, please visit us atbloomberg.com
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©2020 Bloomberg L.P. || Bitcoin Balances on Exchanges at 2-Year Low and That May Be a Bullish Sign: The balance of bitcoin on major exchanges has hit its lowest levels since November 2018. Yet unlike that time, when bitcoin was in the depths ofthe crypto winter, some see this current spate of low bitcoin balances on exchanges as a sign that a new generation of investors is putting its money in it for the long term.
The last time bitcoin balances on exchanges were at this low a point was in November 2018, according to data from Glassnode.A hard fork on Bitcoin Cashthat month may have also caused the declining bitcoin balances on exchanges since some owners were moving their bitcoins to private wallets in order to claimthe new tokens from the fork. Bitcoin then continued its bearish trend into the beginning of 2019, before it recovered in April of that year.
Low bitcoin balances on centralized exchanges do not necessarily imply a bearish market trend. In fact, it could reflect a bullish view from bitcoin holders, as they move tolonger-term holding strategies, such as cold wallets, Glassnode tweeted back on April 14.
Related:Market Wrap: Bitcoin Hits $10.9K; Ether Options Signal Short-Term Volatility
That may be the case with this most recent drop in balances, according to Mike Alfred, CEO of Digital Assets Data.
“There’s no reason to sell now when you have large corporate treasuries like MicroStrategybuying the assetnow,” Alfred told CoinDesk in a phone interview. “Why would you be selling when you’re at the beginning of a wave of potential corporate treasuries and institutional investors coming in?”
Read more:Bitcoin CEO: MicroStrategy’s Michael Saylor Explains His $425M Bet on BTC
South Korea-based data provider CryptoQuant also captured the declining bitcoin balances on exchanges. According to the company’s CEO, Ki Young Ju, this means there are fewer bitcoin holders who could sell their bitcoins on exchanges, avoiding a possible major market correction.
Related:Why Bitcoin's Longest Run Above $10,000 Matters
However, this decline hasn’t been a straight line down, according to another crypto data source, Chainalysis. Their data show daily net inflow of bitcoin to exchanges logging its biggestsingle-day increase on Sept 21since the market crash on March 12. Philip Gradwell, an economist at the company,told CoinDeskthat the number indicated “a weakening market.”
“While the overall amount of bitcoin held on exchanges is low, it has increased over the last few days, still small relative to the longer term decline in bitcoin held on exchanges,” Gradwell wrote in an email response to CoinDesk.
The latest bitcoin balance drop on exchanges started in mid-March when pricestook a steep tumbleto a 10-month low, according to Norwegian crypto analysis firm Arcane Research’sweekly reporton Sept. 22.
Arcane Research attributed the decreased bitcoin balance on exchanges partly to the white-hot decentralized finance (DeFi) sector, where bitcoin isbeing tokenizedon Ethereum by those lending the cryptocurrency in exchange for yields.
“In the same period [since March 15, 2020], more than 100,000 BTC have found their way into Ethereum protocols, which could explain some of the outflow,” the research team wrote.
As CoinDeskreported earlierthis week, tokenized bitcoin has become one of the largest assets on DeFi. Currently, more than 108,000 BTC worth some $1.1 billion minted from seven issuers, according toDune Analytics.
Others, at the same time, say that a new flux of crypto investors since the coronavirus pandemic started could be the reason for the low bitcoin balance on exchanges. These investors, coming mostly from traditional financial markets, may prefer “white glove” services such as a crypto investment fund to manage their crypto portfolios for them, instead of going to crypto exchanges themselves.
As a result, the bitcoin balance on exchanges has been dropping this year both consistently and significantly.
Digital Assets Data’s Alfred said that crypto fund companies such as Grayscale (a subsidiary of Digital Currency Group, which also owns CoinDesk) are buying a large amount of bitcoin, as both high-net-worth individuals and institutions are putting new capitals into the crypto market. For example,at the start of Q3, Grayscale had $4.1 billion in assets under management (AUM).As of Sept. 23, its AUM was $5.5 billion.
Traditional investors may be concernedwith easy monetary policies of the Federal Reserve, other central banks and governments around the world.But unlike the old generation of crypto investors, who were often technologically sophisticated early adopters, new crypto investors are less familiar with how crypto assets work and therefore less comfortable with holding and managing bitcoins themselves, according to Alfred. They thus turn over their investment capital to more experienced firms.
“These are people that don’t know much about bitcoin,” Alfred said. “They just know that they want to own something (in crypto) and they don’t want to do it themselves.”
This sentiment is echoed by Babel Finance, a Hong Kong-based crypto lender. In a WeChat conversation with CoinDesk, Simons Chen, executive director of investment and trading of the company, said that bitcoin balances on crypto exchanges have been taken away by both decentralized exchanges and crypto investment funds.
“Institutional investors are withdrawing their bitcoin from exchanges and transferring them elsewhere,” the chat wrote. “So the low bitcoin balance on exchanges is happening not because of any market correction, and as a result, there has not been much pricing pressure.”
Notably, bitcoin’s price – which is known for its volatility – has been becomingless volatilethis year. Alfred said it is partly due to more capital flows into the leading cryptocurrency, as well.
“I think volatility has come down pretty dramatically in part because there’s so much traditional capital coming in, which really dampens the volatility,” he said. “You have this very supportive bid coming from all this new money coming in that believes in the long-term fundamental story and is not buying just to sell right away.”
• Bitcoin Balances on Exchanges at 2-Year Low and That May Be a Bullish Sign
• Bitcoin Balances on Exchanges at 2-Year Low and That May Be a Bullish Sign || Tobacco Regulation Is Now More Fully In The Hands Of The FDA: After a long wait, the Food and Drug Administration finally has control over the regulation of products like e-cigarettes, hookahs, and cigars. A 2016 District Court ruling stated that companies first marketing deemed tobacco products after February 2007 were required to submit a Pre Market Tobacco Product Application in order to remain compliant, but that they had until 2020 to do so. Of course, everyone waited until the last minute. Despite the vastness of the industry, only 1451 products had been submitted as of August 2020. The agency saw this coming, however, and it has been preparing for the avalanche of paperwork for years now. Currently, an estimated 400 million products are required to submit a PMTA, which involves extensive documentation including evaluations of health effects on both the general population and the individual; environmental impact; statements of all components, ingredients, and operation methods; descriptions of processes for manufacture, packaging, and distribution; proof the product meets established standards; samples of the product; examples of labeling; and anything else the FDA deems necessary to determine whether a product is compliant. Review Challenges for the FDA The voluminous nature of the PMTA creates serious challenges for an expedient review process, regardless of what the FDA does to ready itself for the onslaught. Altria (NYSE: MO ), parent company e-cigarette company, JUUL, reports that it submitted more than 66 thousand pages of documentation for its application. The FDA plans to spend the next year evaluating and processing applications, but there is a chance that the administration may not manage to get through all of them within the allotted time. Additionally, there will be a follow-up period for products that require more information in order for the FDA to make a determination of whether or not to approve the application. The agency does not currently have a plan of action for applications that are still left at the end of the processing period. Story continues The Impact of COVID on FDA Evaluation The FDA has already made it clear that the first priority for compliance enforcement will be electronic nicotine delivery systems (ENDs) that come in non-traditional tobacco flavors, and those that pose a risk for adoption by minors. Some speculate that COVID will also have an impact on the FDA’s evaluation process as it makes decisions about which products get approved and which are targeted for enforcement. We know that people with lung damage endure more severe illness and are at a higher risk of death from COVID infections; so it seems reasonable to assume that as a result, the FDA will take a more critical look at products that may contribute to lung damage. The Future of Tobacco Regulation The next couple of years will likely be challenging for both the FDA and companies in the tobacco industry, as regulation and enforcement become solidified. There is an overwhelming number of products on the market; and because the PMDA process is expensive and arduous, many companies have certainly not submitted their applications in time. Some that make ENDs will pull their products off of shelves over the next few months, but others will likely attempt to operate under the FDA’s radar for as long as possible. In addition to the sheer number of products presenting a challenge to finding and shutting down noncompliant companies, the FDA has been facing serious obstacles to efficient functioning. Between COVID being the focus of most policy-making since April and constantly-shifting leadership, the agency was dealing with a strain on its resources even before September 9th. It will be interesting to see how this sector of new tobacco products fares, and how well the FDA will manage to regulate the industry. One thing is certain, however: Companies that have committed to the rigors of filing PMTAs for their products are more cognizant than ever of how to look out for their customers now and into the future. See more from Benzinga Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas A Few Key Factors That Could Predict A Bitcoin Price Surge To End 2020 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Binance Unveils New Product for Yield Farming Crypto Assets: Popular cryptocurrency exchange Binance has released Launchpool, a way for users to make income by staking tokens for so-called yield farming. According to a Binance announcement on Sunday , users of Launchpool will be able to stake Binances BNB token and BUSD stablecoin, as well as the ARPA token, for interest-bearing rewards. The first project to be hosted on Launchpool is Bella Protocol (BEL), which recently raised $4M in a seed funding round led by Arrington XRP Capital. The BEL project aims to fix the complex user experience issues related to DeFi assets, such as the need to hop among different protocols and platforms in search of higher yields. Users will be able to stake their tokens in three separate pools to farm earn profits by providing staked liquidity BEL tokens over a 30 day period starting Wednesday. A week later, on Sept. 16, Binance will list BEL for trading and open trading pairs on its exchange for BEL/ BTC , BEL/BNB, BEL/BUSD and BEL/ USDT . The news comes on the heels of Binances recent mainnet launch of its smart contract-enabled blockchain and introduction of staking for its BNB token. It also launched a new DeFi-like platform last week, allowing trades via an automated market maker exchange. Staking involves committing funds as collateral onto an existing protocol in order to increase the liquidity of a project and brings voting rights to help decide on governance issues. Stakers in such decentralized finance projects earn rewards in the form of interest ranging generally up to 10%, though it can be much higher, according to DeFi Rate . For Launchpool, Binance is offering BEL rewards at 1% for users staking ARPA, 9% for staking BUSD and, it claims, 90% for staking BNB. See also: What Is Yield Farming? The Rocket Fuel of DeFi, Explained Related Stories Binance Unveils New Product for Yield Farming Crypto Assets Binance Unveils New Product for Yield Farming Crypto Assets Binance Unveils New Product for Yield Farming Crypto Assets Binance Unveils New Product for Yield Farming Crypto Assets || Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps: Institutions recently raised their bullish bets in bitcoin (BTC) futures listed on the Chicago Mercantile Exchange (CME) to the record level set last month amid signs of market maturity.
• In the week ended Oct. 13, institutional investors increased long positions by over 9%, taking the tally of bullish bets to therecord highof 3,500 contracts reached in mid-September.
• The numbers were revealed by the Commitment of Traders (COT) report published by the U.S. Commodity Futures Trading Commission (CFTC) on Friday.
• The cryptocurrency’s price reached multi-week highs above $11,700 during the seven days to Oct. 1, confirming a breakout on technical charts.
• BTC’s recent resilience to several exchange-related issues may have given institutions the confidence to increase their bullish bets.
• The cryptocurrency remained largely bid above $10,000 earlier this month despite news of theKuCoin exchange hackand U.S. regulatorsbringing criminal and civil chargesagainst BitMEX.
• Similarly, buyers defended support at $11,200 on Friday after prominent crypto exchange OKExsuspended withdrawals.
• ‘Had these events happened last year, the [bearish] impact on bitcoin’s price would have been much greater,” Sui Chung, CEO of CF Benchmarks, said in a statement to CoinDesk.
• The derivatives market is now less dependent on exchanges like BitMEX and OKEx than a year ago.
• In September 2019, the two exchanges accounted for over 70% of the global BTC derivatives’ open interest. That number has now dropped to 40%.
• As such, the cryptocurrency is less sensitive to exchange-related issues. That’s a testament to the growing maturity of the cryptocurrency space, according to Chung.
• Speculators or leveraged funds – hedge funds and various types of money managers that, in effect, borrow money to trade – increased their short positions by 4% to 14,100 – the record low seen in August.
• That does not necessarily imply bearish implications for price.
• According toPatrick Heusser, a senior cryptocurrency trader at Zurich-based Crypto Broker AG, cash and carry trading may have pushed bearish bets to record highs.
• “Cash and carry” is an arbitrage strategy that involves buying the asset on the spot market and taking a sell position in the futures market when the latter is trading at a significant premium to the spot price.
• Futures prices converge with spot prices on the day of the expiry, yielding arisk-free returnto a carry trader.
Also read:Bitcoin Price Dips 3% on OKEx News, Analysts Aren’t Too Worried
• Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps
• Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps
• Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps
• Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11, 13550.49
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Innovation ETFs: Real Deal Or Gimmick?: [This article previously appeared in ourSeptember issue of ETF Report.]
Technological innovations are so integrated into our lives that we don’t think about their impact. Beyond the latest electronic gadget, technology has enhanced everything from medicine to food.
Within the past 12 months, several new exchange-traded funds debuted promoting the idea that innovation is an investable theme. These funds are more than simple technology sector ETFs; rather, their idea of innovation is to look at companies using technology to push their industry forward. In fact, many of these companies aren’t necessarily considered technology firms; instead, they inhabit other sectors like energy or health care.
The biggest of these funds in terms of assets under management by far is theiShares Exponential Technologies ETF (XT), based on the Morningstar Exponential Technologies Index. It’s backed by fund manager Ric Edelman, founder and chief executive officer of Edelman Financial, who seeded the fund with about $560 million after its launch.
There are two other fund families focusing on technological innovation. ARK Investment Management’s funds include four actively managed ETFs: theARK Genomic Revolution Multi-Sector ETF (ARKG | D-36),ARK Industrial Innovation ETF (ARKQ | D-44),ARK Web x.0 ETF (ARKW|D-29)andARK Innovation ETF (ARKK | D-32). ARKK contains all three of the other ARK innovation funds. Meanwhile, the newly launchedGavekal Knowledge Leaders Developed World ETF (KLDW) and theGavekal Knowledge Leaders Emerging Markets ETF (KLEM)follow Gavekal’s Knowledge Leaders indexes.
There is some debate about whether technological innovation is an investment theme, and it may just be pure coincidence that within the space of a year several funds launched based roughly on the same idea without being clones of each other. Technology certainly has blurred the lines regarding the categorization of certain firms based on their business lines—think of Tesla being a car companyandfocused on energy storage. Yet at least one industry watcher said the name “innovation” is just growth with better marketing.
Another Paradigm Shift?Managers of these funds said when thinking broadly about innovation, consider how the advent of different technologies changed life over the centuries, such as the printing press, the steam engine and electricity.
Edelman said previously he went to iShares to create a fund focusing on “new economy” companies, a fund that would include everything from robotics to artificial intelligence to energy and environmental systems to medicine. Innovation is neither a market sector nor a geographical issue, but a fundamental theme. Given recent technological breakthroughs, he has said, this fund could not have existed even a few years ago.
XT launched March 23 and has about $689 million in assets under management. Information technology and health care make up the bulk of the fund, a little more than 60% combined, with 67% of the companies domiciled in the U.S. It has an expense ratio of 0.47%.
Targeting ‘Disruptive’ TechnologyXT has the most assets under management of the innovation funds, but it wasn’t the first on the scene. ARK Investments’ fund ARKQ launched on Sept. 30, 2014, ARKW launched on Oct. 7, 2014 and ARKG and ARKK launched Oct. 31. These funds focus on the theme of “disruptive” technology.
Tom Staudt, associate portfolio manager at ARK, says the funds look at what they call “general purpose technology platforms” that will drive the economy across sectors. Those platforms include cloud computing and big data, automation and robotics, and genomic sequencing.
For a larger view, please click on the image above.
All four funds have expense ratios of 0.95% and have a heavy domestic tilt, with at least 71% of holdings in U.S. companies. By sector breakdown, ARKW has 77% in technology; ARKQ is 56% technology-focused; ARKG is 80% focused on health care. ARKK holds all three funds and comprises 48% ARKW, 31% ARKQ and 20% ARKG.
As of July 20, assets under management were $14 million for ARKQ, $13.1 million for ARKW, $9.7 million for ARKG and $7.7 million for ARKK.
At first blush, the funds appear to be heavily weighted in technology or health care, but Staudt says they’re really cross-sector funds that fit into a portfolio’s growth allocation. The funds’ construction takes advantage of the blurry lines of classification across sectors. For instance, investors who own theTechnology Select Sector SPDR Fund (XLK | A-90), don’t own Amazon, the largest cloud provider in the world.
“The reason they don’t is because [Amazon] is considered a consumer-discretionary company. They don’t have Netflix, the largest streaming-video provider in the world. Why? It’s consumer discretionary,” he said.
Staudt doesn’t necessarily consider innovation to be a new investment idea, but he suggests the current interest in innovation comes from buyers getting comfortable again with technology investing as a whole after dealing with “scar tissue from the tech and telecom bust” that started in 2000.
A Semiconductor SparkSteven Vannelli, chief investment officer for Gavekal Funds, says they trace back the idea of technological innovation influencing everyday life to the introduction of the semiconductor and how computing power grew.
The exponential growth in computing technology is commonly known as Moore’s law, named after Gordon Moore, co-founder of Intel.
The semiconductor’s influence is seen in what Gavekal calls “the knowledge effect,” and Gavekal built indexes around companies using this to change how their industries develop. The KLDW and KLEM ETFs are based on those benchmarks. Launched July 8, the funds each have $2.5 million in assets under management as of July 20.
Companies using the knowledge effect outperform less innovative companies, Vannelli says, and part of that is due to how the U.S. Financial Accounting Standards Board forces firms to expense their knowledge investments in the period in which they were incurred. This doesn’t allow companies to treat knowledge investments as assets—unlike the way physical objects are accounted—so it skews what information investors have, he says.
Gavekal picks the firms for their funds by reorganizing what’s publically recorded on a company’s balance sheet and treats investments in intellectual property the same way a company might treat equipment.
Growth Rebranded? …Christian Magoon, chief executive officer of YieldShares, and an industry veteran who launched many ETFs, is skeptical about whether innovation is a true investment theme.
“If you launched a ‘growth-leaders fund,’ there would be yawning in the marketplace. But if you launched an ‘innovation fund,’ people would say ‘oh, innovation, that’s interesting.’ It has a little bit of a branding/marketing feel to it,” he said.
Paul Britt, senior analyst at FactSet, says investors interested in an innovation fund need to look closely at the holdings, because some of them contain big-cap names rather than small- or midcap firms most people associate with innovation, noting the PureFunds ISE Mobile Payments ETF (IPAY) as an example.
“That’s hot and trending, and I’m picturing a bunch of college kids in a loft somewhere cooking these things up. But if you look under the hood, the top holdings [in IPAY] are Visa, MasterCard and Amex. You’re thinking ‘how innovative is that?’” he said.
Britt agrees that blunt sector classification is becoming fuzzy, such as in the Amazon and Netflix examples. He said investors wanting a nuanced approach should review a firm’s revenue attribution to understand what portion is actually focused on the potential innovation theme.
“That speaks to the classification notion of what these companies are, and what bucket you put them in,” he said.
What makes these ETFs stand out a bit is that they may hold some names not normally represented in traditional indexes, Magoon says, since many leading innovation firms usually have smaller market caps or are emerging companies. He says these are likely more volatile stocks, so owning a basket of 20 or 30 companies in a diversified ETF is less risky than owning, say, a biotech sector ETF.
One thing to consider about these funds is their expectations that they will target future growth, Britt says.
“It’s one thing to name these companies; it’s another thing to say that these things are going to outperform the market—that the market has underpriced them. At end of the day, they might not outperform Nabisco or something else,” he said.
The overall market is currently rewarding growth, which benefits these ETFs, Magoon says, but if value investing becomes popular, it’s hard to say how it will affect the funds.
Britt says investors could get some perspective on innovation funds by looking back at what was hot a few years ago, such as renewable energy. He used thePowerShares Global Clean Energy Portfolio (PBD | D-23)as an example of a fund that is down significantly from its highs.
“That’s innovation, but it’s not so fresh. It may give you a little perspective on what will it feel like in five years when we’ve moved on to the next thing. Some of these funds will be with us, some not,” he said.
… Or A Lasting Theme?Certainly, XT, the largest of these funds, has a heavy growth tilt, though it’s not at all a pure growth vehicle. If you look at the Morningstar classifications of the holdings, 46% of the portfolio is in growth stocks, with 32% in blend and 21% in value. In other words, more than half of the fund is in nongrowth stocks. By contrast, 33% of theSPDR SandP 500 ETF (SPY | A-98)is classified as growth.
However, advisors using the funds would beg to differ with the growth characterization. John Eberle, chief investment officer of Fiduciary Financial Partners, notes that he’s been using the firm’s actively managed mutual fund since not too long after it launched, and that he would be moving some of those assets into the ETFs. The ETFs, he points out, don’t need to maintain cash reserves, unlike the mutual fund, which at times has roughly 20% of its assets in cash. Eberle also doesn’t see Gavekal’s approach as a growth-oriented strategy.
“I could see these being perceived as more growth-oriented, but I would think of it in a different way. They’re trying to define an asset that’s not defined in the balance sheet, like intangibles,” Eberle said, adding that he considers himself to be a value investor, as he believes growth expectations are frequently overestimated.
“Whether the intellectual capital is generated internally or through MandA, it shouldn’t make a difference. Value or growth, what they’re getting is an asset that is—or more to the point, isnot—on the balance sheet that will generate revenue and profit opportunity that other people are not accounting for,” he said.
For Ric Edelman, who was the main driving force behind XT, the growth characterization seems to be purely coincidental. He notes that growth qualities were not a part of the selection methodology.
“The fund was designed to contain companies that are leaders in using or developing exponential technologies, and growth was not a criteria,” he said.
And while Edelman doesn’t think the launch of seven similarly themed funds within the space of a year was necessarily a coincidence, he’s not convinced it’s a widespread trend, adding that he’s not aware of any other similar funds in development. He is, however, a firm believer in the exponential technologies theme that underlies XT.
“I’m convinced that this particular theme is very important for investment portfolios, and will increasingly be viewed as an essential part of any asset allocation model,” he said.
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Permalink| © Copyright "datETF.com.All rights reserved || Cable & Wireless Communications Scores With Exclusive Premier League Football Rights From Seasons 2016/17 to 2018/19: MIAMI, FL--(Marketwired - Oct 7, 2015) - Starting next season, the Premier League will have a new home in the Caribbean. Cable & Wireless Communications Plc (CWC) today announced that it has won the exclusive rights to broadcast live all 380 matches per season of the Premier League across 32 Caribbean countries from 2016/17 to 2018/19. Commencing in August 2016, the Premier League will be available on the Caribbean's newest sports network --Flow Sports.CWC was also awarded the mobile clip rights, allowing fans to follow the latest goals and action from the world's best football league on any mobile device.
The extensive coverage of live Premier League matches will form the centerpiece of Flow Sports' programming schedule. The network will be launched in November 2015, with content that includes coverage of international and regional football, cricket, rugby, tennis and athletics, as well as CWC's exclusive NFL and Rio 2016 Olympics coverage. Flow Sports will broadcast across the region from a new 4-K-ready, state-of-the-art facility in Trinidad, offering 24/7 sports coverage in HD.
Commenting on the exclusive rights award, John Reid, President of CWC's Consumer Division said: "We are thrilled to partner with the Premier League across the Caribbean. As the most popular league of the world's greatest sport, the Premier League will be at the heart of Flow Sports, the region's newest and largest sports network. We are excited as well to bring additional jobs, skills and investment into the Caribbean with our new Trinidad facility, truly showcasing the power of the new Cable & Wireless and our commitment to the region."
CWC's market research has shown that sports programming is a key decision driver for customers purchasing TV and broadband packages. Approximately 70% of customers identify as being 'sports fans,' with the Premier League dominating sports viewing in the Caribbean. Reid added: "As the region's leading quad play operator, we look forward to bringing Caribbean sports fans closer to the action with our innovations in mobile and online viewing. With our Flow ToGo application and access to mobile clips, fans won't miss any of the excitement that truly defines this tremendous sports asset. Flow Sports will be available in our basic subscription package, meaning more games for more fans, and instantly positioning Flow as the home of sports in the Caribbean."
Phil Bentley, Chief Executive of Cable & Wireless Communications said: "Following our merger with Columbus and our re-branding to Flow, the agreement with the Premier League is yet another example of the growing momentum building across the Caribbean, delivering significant additional revenue synergies through cross-selling and upselling, as well as improving customer loyalty. This is set to accelerate over the next few years."
Richard Scudamore, Chief Executive of the Premier League said: "We are very pleased that Cable & Wireless Communications has chosen to invest in Premier League broadcasting rights in the Caribbean.
"We look forward to welcoming them as a new partner and are sure they will do excellent job making the competition available to fans across the region."
About Cable & Wireless Communications:
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information please visit:http://www.cwc.com
About the Premier League:
The Barclays Premier League is the most-watched, continuous, annual sporting event in the world. Last season 13.9 million fans attended matches with record average stadium occupancy of 95.9%. Across nine months of the year, 380 matches are viewed in 185 countries with coverage available in over 725 million households. || Bitcoin spikes 70% in a month; nobody knows why: Bitcoin(:BTC=), the world's most popular digital currency, has been on a roll — but no one is really sure why.
After dipping well below $200 in January, bitcoin traded at more than $410 Tuesday afternoon before cutting some of those gains, according to the CoinDesk Bitcoin Price Index. That's about 25 percent higher than the same time last year but well below the historical high of about $1,150.
This upswing, which began about a month ago when bitcoin traded below $240, comes on the heels of a steady stream of good news for the digital asset and its associated ecosystem. But even with recent favorable regulatory rulings, press coverage and business investments, experts in the space are struggling to explain the one-month jump of more than 70 percent.
For comparison, gold(CEC:Commodities Exchange Centre: @GC.1)is down about 5 percent on the year, and slightly negative on the month.
Some have attributed the size of the recent jump toinvestors' fear of missing out (FOMO), while others such as "Fast Money" trader Brian Kelly point to ecosystem headlines like theWinklevoss twins launching their exchangeand the Digital Currency Groupannouncing fundingfrom Bain and MasterCard(MA).
But bitcoin has boasted a steady parade of media highlights and major investments from important financial firms all year, so it's not immediately obvious why this past month would mark a turning point.
Read MoreWhy financial firms are investigating bitcoin tech
Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, told CNBC he has no easy answers about the price jump. Although he said rumors were flying around the community about international rings of traders teaming up to drive up the exchange rate, O'Connor was unable to confirm anything he'd heard.
For its part, Genesis Global is experiencing a "dramatic increase in activity" from renewed interest in bitcoin as a tradable asset, O'Connor said.
"When the price starts going up, people start coming out of the woodwork," he said. "We're setting new records almost on a daily basis for amount traded and number of transactions."
Read MoreBitcoin to be 6th largest reserve currency by 2030: Research
It should be noted that bitcoin is a relatively illiquid market, so its exchange rate against major world currencies has been historically volatile. Still, O'Connor said volume from the Chinese bitcoin market has been "off the charts," so there may be a genuine upswing in interest from that region.
In fact, Kelly suggested in a Tuesday note that Beijing's tightening of capital controls may have spurred some of the recent price gains.
Additionally, many in the bitcoin community insist that the daily price of the cryptocurrency is not a relevant metric, as it distracts from the world-changing potential of the technology.
Others worry that the cycle of mainstream media coverage on bitcoin's price will recreate a story they've seen before:
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• Personal Finance || Bitcoin Is Now Classified as a Commodity in the U.S.: Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the Commodity Futures Trading Commission (CFTC), which has started to clamp down on unregistered firms that trade derivatives of the cryptocurrency.
The CFTC stated Thursday that it had ordered bitcoin options trading platform Coinflip, and its CEO Francisco Riordan, to cease trading due to it not registering and complying with its regulations. It added that it had also filed, and simultaneously settled, charges against the San Francisco-based firm.
This might mean a nervous couple of months for other unregistered bitcoin derivatives firms in the U.S. but also signaled that the cryptocurrency will now come under the CFTC's scope.
"CFTC holds that bitcoin and other virtual currencies are a commodity covered by the commodity exchange act," the regulator said in a statement Thursday.
Aitan Goelman, the CFTC's director of enforcement, added that "while there is a lot of excitement surrounding bitcoin...innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets."
Francisco Riordan was not immediately available for comment when contacted by CNBC.
Bitcoin is a virtual currency that allows users to exchange online credits for goods and services. While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining.
As well as bitcoin exchanges and wallet services, a small but growing sector of derivatives firms selling products based on the digital currency have also sprung up in recent years. Crypto Facilities was set up in the U.K. this year by former bankers from Goldman Sachs, Morgan Stanley, BNP Paribas and Societe Generale.
The platform pitches itself as a broker which specializes in bitcoin derivatives, and trades financial products like options and futures which are directly linked to the price of the cryptocurrency. Thus, it allows users to "go long" and bet that the price of bitcoin will rise, or "go short" and bet the price will fall.
Technology enthusiasts, regulators and economists have been pondering how to pigeon hole bitcoin since its emergence in 2009. In August 2013, the German Finance Ministry classified it as a "unit of account", meaning it is can be used for tax and trading purposes in the country and is like "private money." || Goldman Sachs Still Likes Barclays Among European Banks; Upgrades Credit Suisse: • Since 2008, European banks have gone through multiple strategic cycles and goals which were subsequently not met.
• Jernej Omahen of Goldman Sachs says "this time feels different" and banks' objectives and targets can now be achieved.
• Top picks in European banks include:Credit Suisse Group AG (ADR)(NYSE:CS) which was maintained at a Buy rating and added to the Goldman Sachs Conviction List, andBarclays PLC (ADR)(NYSE:BCS) which remains Conviction Buy rated.
Back in 2008 many European banks set out ambitious strategic goals and financial objectives that were subsequently not met, marking a pattern that repeated itself - until now.
In a note published Tuesday, Jernej Omahen of Goldman Sachs stated that "this time feels different" with the CEOs ofDeutsche Bank AG (USA)(NYSE:DB), Credit Suisse and Barclays having "changing incentives" and can deliver growth better than its peers.
Related Link:Is Europe The New Home For Bitcoin?
Omahen said the CEOs of the major European banks are "new and outsiders at the same time" and their incentives to persist with previous failed strategies and "ambitious" targets are low. At the same time, their incentives to implement new strategies and three-year achievable plans are "high."
European banks are still "strained" by regulators and their capital positions "need to improve further." Using this as a starting point, Omahen suggested that the banks need their strategies to focus on costs and the best, highest-return businesses. The analyst expanded that this is an option as "most likely" at Credit Suisse and "less so" at Barclays.
Rating And Price Target Changes
(Note: The analyst's coverage and price targets are based on European-listed exchanges, not their respective U.S.-based ADRs).
Shares of Credit Suisse remain Buy rated and were added to the Goldman Sachs Conviction List with a price target raised to SFr 32.50 from a previous SFr 30.80.
Shares of Deutsche Bank remains Neutral with a price target lowered to €33 from a previous €34.60.
Shares of Barclays remain Conviction Buy rated with a price target raised to p345.0 from a previous p335.0
Shares of UBS were downgraded to Neutral from Buy with a target raised to SFr 21.10 from a previous SFr 20.70.
Latest Ratings for BCS
[{"Aug 2015": "May 2015", "Investec": "Berenberg", "Upgrades": "Downgrades", "Sell": "Hold", "Buy": "Sell"}, {"Aug 2015": "Jul 2014", "Investec": "Macquarie", "Upgrades": "Upgrades", "Sell": "Neutral", "Buy": "Outperform"}]
View More Analyst Ratings for BCSView the Latest Analyst Ratings
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Takes A Hit In Australia: Bitcoin has gained popularity across the globe in recent years, but concerns about safety have kept the cryptocurrency from becoming a mainstream means of payment. For that reason, banks in Australia have begun to move away from cryptocurrency, deciding last month to close the accounts of 13 of the continent's 17 bitcoin exchanges. The decision has had a ripple effect on the bitcoin industry in Australia as more and more businesses similarly turn their backs on digital currencies. Bye-Bye Bitcoin In Australia, many businesses began accepting bitcoin payments when the coin gained popularity. As the digital payments trend expanded, some firms hoped to use bitcoin in order to tap into a greater pool of potential clients and make it easier for international customers to pay. However, the nation's banks' decision to shut bitcoin exchanges out has led many Australian firms to rethink their decisions. Many worry that the banks are only the beginning of a backlash against cryptocurrencies, and that by participating in the trend they could tarnish their reputations. Related Link: Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre Big Blow To Cryptocurrencies Although cryptocurrencies are still receiving a lot of positive attention in places like Europe and the US, the changing attitude in Australia could put a dent in the industry's momentum. Australia makes up around 7 percent of bitcoin's $3.5 billion global value, a significant portion. Not only will a negative attitude toward bitcoin affect the Australian market, but it could spread further afield. Some worry that the negative reputation could eventually influence the opinions of consumers and lawmakers in other countries as well. See more from Benzinga Small Businesses Turn To Online Lenders As California's Drought Drags On, Winners And Losers Emerge Is Europe Recovering Or Not? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bitcoin is exploding higher, but no one can agree on why: traders (REUTERS) Bitcoin gained another 6% Wednesday, reaching a new high for the year. The cryptocurrency reached the $450 mark late in the day before falling back to $425. That's compared with around $250 a month ago. What's behind this? Investors and brokers can't agree. In the last few days, explanations have included a rise in demand from China, an upcoming auction by US Marshals of seized bitcoin, and the influence of a convicted Ponzi schemer 's latest gambit. Another catalyst for recent appreciation comes from Europe, says Adam White, vice president and product manager at Coinbase, one of the biggest bitcoin exchanges globally by volume. The European Court of Justice recently ruled that the cryptocurrency is exempt from the region's "value added tax," which White compared to the decision by US taxation authorities in the 1990s to not implement taxes on goods sold online. What is certain is that use of bitcoin by consumers and trading is broadly on the rise. "There has been a steady increase in the number of transactions processed on the bitcoin blockchain," White says. In the last two years, the number of bitcoin transactions has increased threefold from 50,000 daily to about 140,000 today, according to Blockchain.info, which tracks bitcoin data. It is true that Chinese investors are eager to trade bitcoin, White says. In the US, between 300,000 and 500,000 bitcoin are traded daily, White said. But in China, that daily figure has been closer to 1 million to 1.2 million. That isn't to say US investors are neglecting the currency. There has been a three-times increase in the relative trading volume by what are referred to as "High Net Worth" traders on Coinbase's trading platform people making trades in dollar amounts worth up to six figures, White said. Perhaps most telling at least about the recent jump is that there's been a recent surge in trading, sharp rise in new user sign-ups, according to White. So what's behind the recent surge in bitcoin? Maybe just the surge in bitcoin. NOW WATCH: 'The Art Of War' holds the keys to success on Wall Street More From Business Insider Bitcoin is going nuts The Money Of The Future Will Look More Like Bitcoin Than The Paper We Carry Around Today Even As Bitcoin Gets Obliterated, Retailers Say They Will Still Accept It As A Form Of Payment View comments || Goldman Sachs Still Likes Barclays Among European Banks; Upgrades Credit Suisse: Since 2008, European banks have gone through multiple strategic cycles and goals which were subsequently not met. Jernej Omahen of Goldman Sachs says "this time feels different" and banks' objectives and targets can now be achieved. Top picks in European banks include: Credit Suisse Group AG (ADR) (NYSE: CS ) which was maintained at a Buy rating and added to the Goldman Sachs Conviction List, and Barclays PLC (ADR) (NYSE: BCS ) which remains Conviction Buy rated. Back in 2008 many European banks set out ambitious strategic goals and financial objectives that were subsequently not met, marking a pattern that repeated itself - until now. In a note published Tuesday, Jernej Omahen of Goldman Sachs stated that "this time feels different" with the CEOs of Deutsche Bank AG (USA) (NYSE: DB ), Credit Suisse and Barclays having "changing incentives" and can deliver growth better than its peers. Related Link: Is Europe The New Home For Bitcoin? Omahen said the CEOs of the major European banks are "new and outsiders at the same time" and their incentives to persist with previous failed strategies and "ambitious" targets are low. At the same time, their incentives to implement new strategies and three-year achievable plans are "high." European banks are still "strained" by regulators and their capital positions "need to improve further." Using this as a starting point, Omahen suggested that the banks need their strategies to focus on costs and the best, highest-return businesses. The analyst expanded that this is an option as "most likely" at Credit Suisse and "less so" at Barclays. Rating And Price Target Changes (Note: The analyst's coverage and price targets are based on European-listed exchanges, not their respective U.S.-based ADRs). Shares of Credit Suisse remain Buy rated and were added to the Goldman Sachs Conviction List with a price target raised to SFr 32.50 from a previous SFr 30.80. Shares of Deutsche Bank remains Neutral with a price target lowered to €33 from a previous €34.60. Shares of Barclays remain Conviction Buy rated with a price target raised to p345.0 from a previous p335.0 Shares of UBS were downgraded to Neutral from Buy with a target raised to SFr 21.10 from a previous SFr 20.70. Latest Ratings for BCS Aug 2015 Investec Upgrades Sell Buy May 2015 Berenberg Downgrades Hold Sell Jul 2014 Macquarie Upgrades Neutral Outperform View More Analyst Ratings for BCS View the Latest Analyst Ratings See more from Benzinga A Basket Of Stocks To Play New York Fashion Week Analyst: Wayfair Consumer Awareness At Highest Level Ever Google Hires TrueCar President For Self-Driving Car Project; Shares Of The Pricing Website Decline © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Wall Street is trying to tap into the 'enormous' potential of the technology behind bitcoin: (REUTERS/Jim Young)Big banks are looking to link to blockchain, and it would have major ramifications on Wall Street.Bitcoin has gone from a hacker plaything to a mainstream financial instrument accepted in coffee shops.
But Wall Street doesn't care about the cryptocurrency. It is the technology behind it - the so-called blockchain - which gets finance executives really excited.
Bitcoin is a digital currency, the value of which fluctuates wildly. It has caught the eye of regulators, with New York Department of Financial Services publishing this summer publishing aframework for regulating digital currency firms.
Blockchain is technology that underpins bitcoin, and it could have a huge impact on how Wall Street will operate in coming years.
Blockchain is adistributed ledger through which each transaction is tracked and recorded, eliminating ambiguity on pricing and ownership.
“None of our products are dependent on bitcoin as a cryptocurrency,” Blythe Masters, CEO of Digital Asset Holdings, told Business Insider.“We build solutions on top of any distributed ledger whether it's the Bitcoin blockchain or a private network."
Masters previously spent decades at JPMorgan, and her new company is one of several that is seeking to use blockchain technology to help build secure settlement systems for assets.
The company's looking to make use of blockchain technology extends from small, startups such to big banks: Masters' former employer JPMorgan for example is working internally to develop blockchain technology, according to a person familiar with the matter.
Attendee lists at recent industry events serve as a testament to how seriously big banks take the technology. Executives from Morgan Stanley, Goldman Sachs, Bank of America, Wells Fargo, Citigroup and Fidelity have been present.
Exchanges are interested too.At the Coindesk consensus conference September 10 in New York, Nasdaq chief information officer Brad Peterson told attendees he expects the exchange to start implementing technology to clear trades, among other functions.
Venture capital executives and bankers said they believe a big influx of capital is coming for blockchain, which has the potential to disrupt various elements of finance and transaction execution.
Lately, industry cheerleaders have pointed to businesses including loan syndication, land titles and property records, and clearing trades as potential uses of the technology.
(YouTube/ColumbiaBusiness)Blythe Masters, CEO of Digital Asset Holdings, thinks US regulators could lag behind other countries facilitating blockchain implementation into the financial services sector.
Speakers at the event September 10, including Masters, said they believed blockchain technology might catch on faster in other countries where regulators are quicker to adapt to new technologies.
"Regulators don't know how to deal with it," said Erik Gordon, clinical assistant professor at the University of Michigan's Ross School of Business. "We've got to get regulatory consistency to get into the mainstream."
Even this early into blockchain’s introduction to Wall Street, budding industry experts are bullish on the technology’s potential.
"The upside is enormous,” Nasdaq’s Peterson told event attendees during the discussion.
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• Barclays has two blockchain 'labs' in London and is planning 45 experiments with the technology || Bitcoin exchange Gemini safe and legal: Founders: Bitcoin is often associated with illegal activity and the dark corners of the Internet. But the Winklevoss twins believe their new exchange will help investors get involved with the digital currency safely and legally.
Cameron and Tyler Winklevoss, famous for their legal spat with Facebook(NASDAQ: FB)founder Mark Zuckerberg, launched bitcoin exchange Gemini on Thursday. While the currency has received criticism for its role in exchanges such as online black market Silk Road, the brothers contend they have established sufficient safeguards to unlock its potential.
"We built with a security mentality from Day One," said Tyler Winklevoss.
Cameron Winklevoss added that Gemini has "the highest regulatory policies and capitalization requirements." The brothers said they implemented background checks and protections against money laundering.
Read MoreNY issues license to Winklevoss bitcoin venture
Specifically, they contended that their platform gives hedge funds and market makers a secure platform to dive into the digital currency.
Tyler Winklevoss also touched on Facebook, saying it is a "great company" and Zuckerberg deserves credit for its growth and success.
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[Random Sample of Social Media Buzz (last 60 days)]
Current price: 149.58£ $BTCGBP $btc #bitcoin 2015-09-20 00:00:04 BST || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000004
Average $1.0E-5 per #reddcoin
15:00:01 || Current price: 243.62$ $BTCUSD $btc #bitcoin 2015-10-09 00:00:03 EDT || Current price: 258.18£ $BTCGBP $btc #bitcoin 2015-11-08 00:40:05 GMT || LIVE: Profit = $773.04 (1.77 %). BUY B115.30 @ $379.45 (#BTCe). SELL @ $385.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Current price: 239.31€ $BTCEUR $btc #bitcoin 2015-10-20 21:00:06 CEST || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000004
Average $1.0E-5 per #reddcoin
04:00:01 || Current price: 236.17€ $BTCEUR $btc #bitcoin 2015-10-17 08:00:07 CEST || 1 #bitcoin 707.95 TL, 236.395 $, 208.457 €, GBP, 15690.00 RUR, 28400 ¥, CNH, 319.38 CAD #btc || Current price: 230.25$ $BTCUSD $btc #bitcoin 2015-09-20 00:20:01 EDT
|
Trend: down || Prices: 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75, 335.09
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Danish Firm CCEDK Set to Revolutionize Cryptocurrency Industry: BLOKHUS, DENMARK / ACCESSWIRE / June 16, 2015 /CCEDK.com, a leading Danish cryptocurrency exchange, has just demolished the final barriers to mainstream acceptance of crypto currencies. "We have combined the strengths of digital currencies pioneered by Bitcoin with the universal acceptance of major credit cards," said Co-Founder & CEO Ronny Boesing. "In the process we have eliminated most of the biggest drawbacks of the two systems. This summer, consumers really can have it all!"
Quickly warming to his topic, Boesing went on to say, "We are now able to offer our customers a single, seamless, integrated solution combining Internet money, peer-to-peer payment, and instant international money transfers. Someone on the far side of the planet can wire digital currencies to your debit card in the time it takes to swipe that card at your local merchant."
"It's like having your savings, checking, and trading accounts in the palm of your hand, accessible from anywhere in the world – at the speed of light – with dramatically lower fees than banks and exchanges have ever been able to offer."
CCEDK.com has become the first exchange in the world to make its books completely transparent – using the same public ledger philosophy that made Bitcoin so successful.
"You don't have to worry about our exchange being hacked or whether it is honest or solvent. Everything about our new accounts will be an open book and you control the keys to your own funds, even while they are on our exchange," according to Mr. Boesing.
This is game changing. Boesing checked off the notoriously hard problems it solves. It took all ten fingers.
Speed:Wiring money takes many days in the current banking system. We let you send it anywhere in the world in one second.
Trust:Your money goes directly from you to its destination, no middlemen ever get control of your money. That includes us.
Flexibility:You can store your money in any mix of the top national and digital currencies. And you can change that mix in one second, as often as you like.
Acceptance:You can spend your money instantly, anywhere major debit cards are accepted. We handle the conversions for you.
Security:No one can freeze, seize, hack or attack your wealth. You are always in control and your identity can never be stolen.
Privacy:Only those you authorize can see your accounts. We make our ledgers public for transparency, but you can keep yours private.
Yield:You can earn better yields with less risk than any place else in the world.
Stability:We offer stabilized second-generation digital assetss that have much lower volatility than first generation offerings like Bitcoin. Our SmartCoins can track the value of USD, EUR, CNY, Gold, Silver, Bitcoin and a growing number of other currencies and commodities.
Smart Contracts:You can program financial transactions to happen automatically when agreed upon conditions are met. No need to trust anyone, because our system enforces the agreement for both sides. Program recurring payments or even key parts of your own estate's will.
Multi-Signature Accounts:Share control over accounts with friends, family, and business associates in a completely accountable way.
Nobody has ever been able to combine all these features in one place until now. Folks used to have to trade the problems of today's highly centralized financial system for the problems of the digital currency world. Not any more. CCEDK has combined the advantages and eliminated the disadvantages of both systems.
How did CCEDK score this first-of-a-kind coup? "Strategic teaming," beamed Boesing, "Two of the most innovative partners in the industry have joined us to achieve what none of us could have done separately."
"We start with our own EU-based international exchange in Denmark, which went live more than a year ago.CCEDK.com offers buy and sell options for digital currencies in a secure environmenton the base of two-factor authentication (2FA) with 24/7 worldwide customer support. We span three continents and 17 languages so far. We offer anonymous trading of some 85+ crypto pairs based on BitUSD, Bitcoin, Litecoin, BitShares, NuBits, NuShares, Dogecoin, Darkcoin, Nextcoin and Fimkrypto as well as a 50+ Fiat pairs with validation."
"Next,CCEDK joined forces with licensed Forex participant Bit-x.com to offer the NanoCard. This is a partnership with no limitations, and as a result we are really proud after only one year in the industry to have the opportunity to offer an impressive project like this, the crypto currency community's perhaps first true crypto debit card 2.0 provided by NanoCard and banking partners," grinned Boesing. It will be accepted everywhere – no need to convince merchants to use your favorite cryptocurrency.
Now,Cryptonomex.comhas joined the team. They are the developers behind the leading second-generation family of cryptocurrency products known as BitShares. "This relationship provides us with deeply integrated access to the BitShares 2.0 network allowing industrial grade digital currency transactions several thousand times faster than Bitcoin," said Boesing. "Using the BitShares platform also gives CCEDK the ability to share its order books and services with future partner exchanges and digital asset providers to achieve deeper markets, tighter price spreads, and a growing suite of innovative products and services."
In this rapidly evolving industry, success is all about network effect. By placing their ledgers on the open BitShares network, CCEDK has positioned itself for rapid growth toward leading the most lucrative and trusted network of exchanges on the planet. "Exchanges with closed order books are going the way of the dinosaur," opined Boesing. "Next year, if an exchange is not on an incorruptible, transparent, decentralized, open public ledger like ours, it might not even be in this business."
###
Contact CCEDK | Crypto Coins Exchange Denmark Aps:Ronny Boesing+45-36-98-11-50ronny@ccedk.comTyttebærvej 6, Hune, DK-9492 Blokhus Denmark
SOURCE: CCEDK.com || STOCKS GO NOWHERE: Here's what you need to know: Car stuck (REUTERS/Jonathan Alcorn ) Stocks were all over the place on Tuesday. The S&P 500 and the Dow rallied above the record highs set on Monday, and slid in the final 90 minutes of trading. But the Dow rebounded to make a new record high. First, the scoreboard: Dow: 18,312.39, +13.51, (0.07%) S&P 500: 2,127.83, -1.37, (-0.06%) Nasdaq: 5,070.03, -8.40, (-0.17%) And now, the top stories on Tuesday: In economic data, housing starts surged to the highest level since November 2007 . Starts rose 20.2% in April to an annualized pace of 1.135 million, crushing expectations for a 9.6% rise to an annualized rate of 1.01 million. Building permits rose 10.1% to an annualized pace of 1.143 million, versus forecasts for a 2.1% rise to an annualized pace of 1.06 million. "The uptick in mortgage rates over the last month will be a headwind going forward," wrote Nomura analysts in a note. "However, today's data reinforce our basic view that housing will contribute to stronger growth this year and that we should expect stronger growth in the US going forward." US government bonds sold off. As their prices fell, yields rose; the yield on the benchmark 10-year Treasury note climbed to a year-to-date high of 2.303%, a rise of about 5 basis points. The long 30-year bond yield also rose about 5 basis points to as high as 3.09%. West Texas Intermediate crude oil fell more than 3.5% to as low as $57.95 per barre l. The American Petroleum Institute is due to report on US crude stockpiles after the closing bell, and the Energy Information Administration will release its tally on Wednesday. Inventories have declined in the past few weeks. Over the weekend, Goldman Sachs slashed its price forecast for the next five years. The New York Stock Exchange has launched a bitcoin index . NYXBT will reflect data from the Coinbase bitcoin exchange, which the NYSE made a minority investment in earlier this year. The NYSE said in a statement: "NYXBT utilizes a unique methodology that relies on rules-based logic to analyze a dataset of matched transactions and verify the integrity of the data to ultimately produce an objective and fair daily value for one bitcoin in U.S. Dollars as of 16:00 London time." Bitcoin is currently worth $233, down almost $3 from yesterday. Shares of Chinese sports lottery site 500.com surged as much as 30% despite the company announcing a first-quarter loss, the resignation of its CEO and one director, and saying it is currently generating no sales. The company saw an earnings per share loss of 6 cents, much less than the expectation for a profit of 28 cents, and sales of $15.9 million versus $24.7 million expected. It saw a net loss of $8.4 million. Last month, 500.com suspended all online lottery sales in agreement with the Chinese government. And in the earnings report Tuesday, it said it is not generating revenues due to the suspension. TJX Companies beat estimates on earnings and revenues in the first quarter – something that's been unusual for retailers this season. The parent company of TJ Maxx and Marshalls reported adjusted earnings per share of $0.69 (versus $0.66 expected) on sales of $6.9 billion (versus $6.8 billion.) The company saw a 5% year-over-year rise in same-store sales, and raised its full-year guidance based on these results. Its stock rose as much as 3%. Macy's and JCPenney are two of the retailers that reported weaker-than-expected earnings. Urban Outfitters also missed expectations, and its stock tanked by up to 16% . It reported first quarter sales of $0.25 ($0.30 expected,) and record sales of $739 million (still below $757.58 expected.) Analysts at Oppenheimer downgraded the stock to "Perform" from "Outperform," citing several lackluster quarters, and "fashion misses" at Anthropologie in their note. Shake Shack shares rallied by more than 5% , bringing the stock's gains since reporting earnings after the close last Wednesday to around 12%. After the company's initial public offering priced at $21 in January, the stock has more than tripled and was trading at around $76 on Tuesday. There's been no big news since the earnings results that one analyst described as a " historically impressive 'beat and raise quarter.' " Shake Shack's flagship location in Madison Square Park in New York will reopen on Wednesday May 20. Story continues DON'T MISS: This demographic trend will be bullish for stocks for years » NOW WATCH: Here's exactly when you should 'cc' someone on email More From Business Insider STOCKS GO NOWHERE: Here's what you need to know STOCKS HIT ALL-TIME HIGHS: Here's what you need to know STOCKS GO NOWHERE: Here's what you need to know || New York sets rules for running Bitcoin exchange businesses: Pixelated Bitcoin symbol made from cubes, mosaic pattern New York has finally issued an official set of rules for businesses that deal with Bitcoins. If you recall, New York Superintendent of Financial Services Benjamin M. Lawsky and his team have been writing and rewriting those regulations for the past two years, taking criticisms into account. Lawsky has announced the final list during a recent speech at the BITS Emerging Payments Forum in Washington, weeks before he steps down from his position. These rules require businesses to apply for a "BitLicense" from the Department of Financial Services if they want to operate in the Big Apple. The final version clarifies that only companies that offer financial services, such as money exchanges, are required to take out applications, though. Software developers, individuals and retailers can accept cryptocurrency payments without having to go through the process. The rules also state that businesses won't have to report every software update (unless it will significantly change their product/service) or to apply for BitLicense, if they already have a traditional money transmitter license. From the start, Lawsky maintained that the state wants to regulate Bitcoin-based businesses in order to avoid money laundering schemes and the like. "We simply want to make sure that we put in place guardrails that protect consumers and root out illicit activity -- without stifling beneficial innovation," he said during his speech. While some entrepreneurs welcome the regulatory framework, as it will prove to customers that their businesses are legit, not everyone's happy with the the final list. Jerry Brito, executive director of Bitcoin advocacy group Coin Center, told The Wall Street Journal that the BitLicense program creates "an unprecedented new state-level money laundering requirement." He believes it's discriminatory, as New York banks and regular money transmitters don't have to follow a similar set of rules. His unhappiness is shared by a lot of people in the Bitcoin community, who are dismayed that Lawsky failed to address their concerns. New York is the first state to heavily regulate Bitcoin exchanges, but other states might follow if the BitLicense turns out to be a success. If you want to know just how stringent New York's rules are, check out this full set of regulations released by Lawsky's department. [Image credit: Getty/TimArbaev] || Bitcoin Shop Signs Letter of Intent to Merge With Spondoolies-Tech: ARLINGTON, VA--(Marketwired - Apr 28, 2015) - Bitcoin Shop, Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), a blockchain technology company that engages in transaction verification services, announced today that it has signed a Letter of Intent ("LOI") to merge with Spondoolies-Tech Ltd ("Spondoolies"), a digital currency server manufacturer. BTCS is embarking on a mission to build a fully integrated transaction verification services business using Spondoolies' state-of-the-art bitcoin mining technology. In the bitcoin network, transactions are typically verified by operators of specially designed servers which ensure speed, efficiency, security and accuracy. Currently, there are only five companies globally manufacturing these servers and Spondoolies is widely recognized as a leader in the space. Both companies believe the anticipated combination of BTCS and Spondoolies will create the world's first publicly traded company to produce Bitcoin transaction verification equipment and deploy Bitcoin mining resources. The merger is subject to a number of conditions, including satisfactory completion of diligence and execution of definitive agreements. There can be no assurance that the conditions to closing will be satisfied or merger will be completed. "Our key goal in 2014 was to create the partnerships needed to build an ecosystem and start laying the foundation to put our vision into place," said Charles Allen, CEO of BTCS. "Once completed, our merger with Spondoolies would be a significant leap forward in making this ecosystem a reality. We believe this merger once completed would create significant value for BTCS and Spondoolies shareholders, customers, and employees and serve to accelerate the strategic plans in which both companies have invested. As a collective, our next objective will be to complete the development and production of a next generation chip to drive our transaction verification services business and to generate revenue from the combination." Story continues "Over the last several months, we've worked closely with Charles Allen and the BTCS team to establish the nature of our potential partnership," said Guy Corem, CEO of Spondoolies. "The synergy between the teams is amazing. I have the utmost confidence that together we will build a very successful and prosperous company by growing and expanding our business beyond bitcoin mining equipment." About BTCS: BTCS is a blockchain technology company that provides transaction verification services for digital currency. BTCS is building a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. BTCS continues to actively partner and integrate with strategic digital currency technology companies who provide products or services that are complementary to its business strategy. BTCS operates its public beta site ( www.btcs.com ) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 250,000 items. For more information visit: www.btcs.com About Spondoolies-Tech: Founded in 2013 by a group of Israeli high-tech veterans, Spondoolies is a digital currency hardware manufacturer. Spondoolies raised ten million dollars in capital from leading Israeli venture capital firms and assembled a team of leaders in the Israeli Semiconductor industry, with the goal of building the infrastructure on which digital currencies will flourish. Building bitcoin transaction verifying servers from the bottom up, Spondoolies is producing machines that are designed for efficiency and performance. During 2014, Spondoolies successfully launched five different products. Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Have Startups Seen Their Heyday?: There is a growing debate on Wall Street over whether or not U.S. equities have become dangerously overvalued. This month, Federal Reserve Chair Janet Yellen weighed in on the issue, saying that the bank does see markets as overvalued, prompting many traders to begin worrying. Tech Bubble? Now, many are taking a closer look at the tech sector, where startups like AirBnb and Uber have taken the market by storm, fundraising at record paces. However, with the Fed considering a rate hike before the end of this year, some analysts say the golden age in Silicon Valley is about to come to an end. Related Link: Does A Tech Bubble Exist Traders Turn To Startups The Fed's accommodative policy has kept borrowing rates in the U.S. near zero, which in turn has given investors license to make riskier bets and prompted many to invest their cash in the tech space in order to get a return. For that reason, startups have seen major injections of cash from mutual funds who are interested in getting in on the ground floor. Hedge fund managers have begun to pay 15 to 18 times a company's projected sales in funding rounds over the past five years rather than the 10 to 12 percent that used to be the norm. Reminiscent Of The Dot-Com Bubble Many worry that the growing amount of money being funneled into the tech scene could be reminiscent of the 2000 dot-com bubble. Investors could be taking unfounded risks in search of a lofty payout, something that may come back to haunt them when the Fed rate hike takes place. If the market pulls back, some of those companies could lose up to a third of their value. Related Link: Fed In The Spotlight: Rate Hike Bets Are Pushed Back Better Businesses However, others say the credibility of tech startups will keep markets from suffering. The companies whose fundraising efforts have been successful typically have legitimate cash flows and a sound balance sheet, unlike the Internet-based companies of the '90s who were spending more than they were taking in. Story continues Image Credit: Public Domain See more from Benzinga Why The Oil Rollercoaster Could Continue After Memorial Day Weekend Cameron May Find Support In Germany For A Better EU Membership Move Over Diamonds, Bitcoin Is A Girl's Best Friend © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || CoroWare to Present at RoboUniverse Conference in New York City: CoroWare to Present at RoboUniverse Conference in New York City;CoroBot SparkDemos at RoboUniverse, Austin Maker Faire, and San Mateo Maker Faire
BELLEVUE, WA / ACCESSWIRE / May 7, 2015 /CoroWare, Inc. (COWI), announced today that it will be presenting and exhibiting at the RoboUniverse 2015 Conference and Expo at the Javits Convention Center in New York City.
Lloyd Spencer, CEO of CoroWare, will be participating in a workshop session entitled "Educators Bonanza - Discovering Resources and Getting Started with Robotics Education" with 3 other presenters, discussing a range of programs, organizations, tools and curriculum for all levels to get started in teaching robotics.
"We are delighted to have CoroWare join us as a sponsor and featured speaker at RoboUniverse 2015," said Richard Erb, Executive Director of RoboUniverse Conference & Expo. "As an early pioneer in robotics education with the launch of the CoroBot in 2007 and its adoption of Robot Operating System in 2009, CoroWare continues to lead the way in open robotics platforms with its CoroBot product line."
Mr. Spencer's presentation will include theCoroBot Spark, a low cost educational kit designed for hands on learning and projects that emphasize "learning about robotics through doing." This ground breaking robotics platform will be on demonstration at the CoroBot Booth at RoboUniverse, the Austin Maker Faire and at the San Mateo Maker Faire in Cypress Semiconductor's booth.
For questions about CoroWare investor relations, please contact us atinvestor@coroware.comor 1-800-641-CORO (2676), option 4.
About RoboUniverse and Mecklermedia
For more information and to register for RoboUniverse New York, visitrobouniverse.com/new-york.
MecklerMedia(MECK) is the leading producer of global trade shows, conferences, and digital publications covering 3D printing, robotics, and bitcoin/blockchain. MecklerMedia produces more than 25 conferences annually, including Inside 3D Printing, Inside Bitcoins, RoboUniverse, and the 3D Print Design Show. MecklerMedia's news sites include Inside Bitcoins News and 3D Printing Industry, which provide up-to-date coverage to help drive business forward. All current MecklerMedia press releases can be found online at:mecklermedia.com
About CoroWare
Headquartered in Bellevue, Washington and with its robotics division in Austin, Texas, CoroWare is a solutions integrator with expertise in affordable and open mobile robotics, data analytics, and R&D engineering services.
CoroWare is recognized as an innovative mobile robotics solutions integrator in the research community because of its expertise in Robot Operating System (ROS), robotics simulation, and robotics application development. CoroWare's CoroBot product line has been shipped to over 100 researchers and educators in over 25 countries worldwide.
For more information on CoroWare and its products and services, please visitwww.coroware.com.
Safe Harbor Statement: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") (http://www.sec.gov/about/laws/sea34.pdf(Sec.21E p. 223). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. CoroWare takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Investor Relations:
investor@coroware.com(800) 641-2676, option 3
Marketing Relations:
Madison JostolMarketingEye Seattleinfo@marketingeye.com+1 (206) 369-1950
SOURCE:CoroWare, Inc. || Bitcoin could shift balance of power in Greece: AsGreecestumbles toward capital controls,bitcoinis once again proving its disruptive power within the global financial system.
Over the past week, both the price and volume of bitcoin has been increasing (it's up 11 percent so far in June) - this is similar to the activity that occurred whenCyprusintroduced capital controls in 2013. During the Cyprus crisis, citizens were not only locked out of their bank accounts but many found that some of their money was confiscated when the banks re-opened. This confiscation went by the "friendly" moniker "bail-in." In the Cyprus bail-in, any deposit above 100,000 euros were converted into Bank of Cyprus shares. Given this precedent, it is no surprise that Greeks are seeking a safe haven for their savings.
If Greece does choose to leave the euro zone, it is unclear what currency the government will choose - it could choose a new drachma or it could choose an existing currency like the Russian ruble. Regardless of the fiat currency the Greek government chooses, the likelihood that Greek citizens holding paper currency will lose money in a Grexit is very high. Its only natural for citizens to seek an easy and secure alternative.
Read MoreECB warns Greek banks may not open on Monday
Since 2013, the bitcoin ecosystem has matured and it is now easier than ever to purchase and securely store bitcoins. This makes bitcoin the ideal instrument for Greeks to use as a store of value.
What is most striking about the use of bitcoin as a safe-haven asset is that doing so completely disrupts the balance of power between the government, the financial system and its citizens. Part of the European negotiating strategy with Greece has been to make conditions so bad for ordinary citizens that they force politicians to concede to onerous adjustments. So far, this tactic has failed to force Greece into a deal. I am skeptical of this tactic because Greek politicians have little to gain by accepting a deal with the European Union. Since the new government was voted in with the mandate to end austerity, it would be political suicide for them to accept a deal that continued down this path. It would also be economic suicide as further austerity measures will likely push Greece further into depression and result in an even higher debt-to-GDP ratio.
Read MoreA bitcoin-like solution for Greece
But there is also another reason this tactic may not work - it's called competition. The disruptive power of bitcoin has, for the first time in modern history, divorced the currency from the state. This disruption should not be dismissed - ordinary Greek citizens no longer have to wait and see what currency the government (either Greek or EU) will allow them to use - they are free to choose bitcoin or any other digital currency in existence. This competition among currencies is the beating heart of both capitalism and democracy and this competition removes a piece of the euro-zone leverage.
Recently there has been a marked increase in volume across multiple exchanges. If this is Greek citizens converting savings into bitcoin, it could mean citizens will become indifferent to political demands. Moreover, since bitcoin can be used to purchase goods and services at over 100,000 merchants, it's unclear whether citizens will ever choose to return to a government-backed fiat currency. The implications of this reality should not be underestimated. Competition among currencies is a new phenomenon ushered in by bitcoin and the blockchain. The ultimate result of competition is to erode the power of the dominant players. This is not to say that Greece will devolve into a lawless society; on the contrary, compassion among currencies places the power back into the hands of the citizens and this is the essence of democracy. It is not lost on me that the birthplace of democracy could also be the cradle of a new balance of power.
Read MoreGartman: Greece would be better off defaulting
Brian Kelly is founder and managing member of Brian Kelly Capital LLC, a global macro investment firm catering to high net worth individuals, family offices and institutions. He is also the creator of the BKCM Indexes, benchmarks for multi-asset money managers. He's also the author of the upcoming book, "The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World."Kelly, a CNBC contributor, often appears on "Fast Money." Follow him on Twitter@BKBrianKelly.
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• Top News and Analysis
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• Personal Finance || 8 trades on big-cap technology earnings: Three big-cap technology names popped after Thursday earnings reports, but CNBC "Fast Money" traders showed less enthusiasm than markets.
For trader Tim Seymour, Google(NASDAQ: GOOGL)made the strongest play after a more than 3 percent climb in extended trading.
"This to me has the best risk-reward," said Seymour, who is long in the stock.
The Internet and technology giant missed Wall Street's estimates for both quarterly profit and revenue. Still, shares jumped, and trader Guy Adami believes it has more upside.
Read MoreGoogle earnings and revenue miss expectations
Adami noted that the stock could rise to $600 per share, more than $20 higher than Thursday's levels, in the short-term.
Amazon.com(NASDAQ: AMZN)surged even more than Google, shooting 6 percent higher in extended trading. The company's quarterly loss fell in line with estimates, but its cloud business surged year-over-year.
Read MoreAmazon lifts veil on cloud biz, says it's worth $5B
Seymour and Adami said Amazon showed operating margin improvement in the quarter. Adami contended that investors should stay long in the stock against $385 per share, $40 lower than where it traded Thursday.
Trader Brian Kelly would hesitate to buy the stock now, but said he would jump in if shares fell to $400.
Traders were less encouraged by Microsoft(NASDAQ: MSFT)'s surprising results. Shares rose 3 percent after the company beat estimates for both quarterly profit and revenue.
Read MoreLofty cloud services sales boost Microsoft
Kelly, Seymour and Adami all said they would shed stake in Microsoft at $45 per share, where it traded Thursday.
Disclosures:
Tim Seymour
Tim Seymour is long T, BAC, C, DAL, DIS, XOM, F, GE, GM, GOOGL, INTC, EWZ, SCTY and SUNE. Tim's firm is long BABA, BIDU, ITUB, MCD, NKE, NOK, PBR, SBUX and YHOO
Brian Kelly
Brian Kelly is long BTC=, CTRL calls, GSG, BBRY, SPY puts and U.S. dollar. He is short 30-year bond futures. He is short Australian dollar. He is short yen. He is short yuan.
Karen Finerman
Karen Finerman is long BABA, BAC, C, LPG, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, CMLS, DIS, LPG, FINL, FBT, FL, GOOG, GOOGL, IBB, JPM, M, KORS, XBI, SUNE, URI, VRSN and VIAB. Her firm is long calls URI. Her firm is short IWM, MDY and SPY. Karen Finerman is on the board of GrafTech International.
Guy Adami
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.
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• Personal Finance || Your first trade for Friday: The "Fast Money" traders gave their final trades of the day.
Tim Seymour was a seller of IWM(NYSE Arca: IWM).
Jon Najarian was a buyer of ARG(ARG).
Brian Kelly was a seller of HYG(NYSE Arca: HYG).
Dan Nathan was a buyer of LVS(LVS)puts.
Trader disclosure: On June 4, 2015 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long AAPL, T, BAC, C, DIS, F, FXI, GE, GM, GOOGL, INTC, KORS, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.Jon Najarian is long AEP, BBY, CS, CSLT, GE, HOG, HSBC, HZNP, KORS, MCD, MW, NEE, NRG, PG, RHT, SIMO, SYK, TTWO, TLT, VIX, XLI, YPF, he is long calls AIG, ANF, ARG, ARIA, CA, CBS, CTXS, DE, DRI, EBAY, ETFC, GE, GLD, IDTI, JNPR, KING, KO, LLY, MCD, MU, NUAN, PG, PHM, SFUN, SNDK, SUNE, he is long puts KORS, LC. Today he bought ARG calls, MU calls, CA calls, ETFC calls, and LC puts.Dan Nathan is long LNKD July call fly, LVS July Aug Put Spread, GOOGL June/July Call Spread, TWTR, BBRY June calls, SO, DE June put fly, INTC July put, SPY June put fly, he is short SO Aug calls. Today he sold to close TLT June call butterfly and GOOGL June call fly.Brian Kelly is long DXGE, BTC=, BBRY, U.S. Dollar, he is short Australian Dollar, he is short Canadian Dollar, he is short Yen, he is short Yuan.
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• Personal Finance || Bitcoin Shop Makes $1.5m Strategic Investment in Spondoolies-Tech: ARLINGTON, VA--(Marketwired - May 18, 2015) -Bitcoin Shop, Inc.(OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology company that engages in transaction verification services, announced today that it has invested $1.5m intoSpondoolies-Tech Ltd("Spondoolies"), a transaction verification server manufacturer. BTCS' investment in Spondoolies comes on the heels of the announcement of the intention for BTCS and Spondoolies to merge (April 28, 2015) and is serving as the first integral step of the planned merger. Together, the two companies will create the world's first publicly traded company to produce Bitcoin transaction verification equipment and deploy Bitcoin mining resources.
Under the terms of the definitive investment agreements, BTCS purchased a 6.6 percent equity interest in Spondoolies, and received certain exclusivity rights and pricing for current and future Spondoolies' products as well as a $1m breakup fee, in case the planned merger between BTCS and Spondoolies is not consummated. The investment in Spondoolies was based on a pre-money valuation of approximately $21.2m. Based in Kiryat Gat, Israel, Spondoolies-Tech is the premier developer of Bitcoin transaction verification servers. Launched in August 2013, Spondoolies is Israeli venture backed and has shipped thousands of servers to customers around the world in the past year.
The terms of the planned merger between BTCS and Spondoolies are a merger of equals. Upon closing, the parties will equally share the dilution resulting from BTCS' April 22, 2015 $2.3m financing. Charles Allen will serve as the merged entity's CEO and Chairman and Guy Corem, Spondoolies CEO and cofounder, will serve as a board member and executive officer. Additionally, Yuval Rozen will serve as BTCS' CFO. The merger is subject to a number of conditions, including satisfactory completion of diligence and execution of definitive agreements. There can be no assurance that the conditions to closing will be satisfied or merger will be completed.
BTCS' Chairman and CEO Charles Allen, who will lead the new company, said that the planned combination of the two companies represents a new force in the evolving blockchain industry. "This is a powerful merger as the technologies of the two companies are clearly very complementary and stand to produce immense revenue growth while delivering value to customers, shareholders, and employees."
"We are excited to begin our partnership with BTCS and appreciate their support during a transformative part of our company's growth," said Spondoolies CEO, Guy Corem. "We believe this new relationship will ensure our ability to continue development and production of innovative and high quality products, targeted mainly for internal use of the merged company but also to deliver the highest quality bitcoin mining equipment for our transaction verification services."
About BTCS:BTCS is a blockchain technology company that provides transaction verification services for digital currency. BTCS is building a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. BTCS continues to actively partner and integrate with strategic digital currency technology companies who provide products or services that are complementary to its business strategy. BTCS operates its public beta site (www.btcs.com) where consumers can purchase products using digital currency such as bitcoin, litecoin, and dogecoin, by searching through a selection of over 250,000 items. For more information visit:www.btcs.com
About Spondoolies-Tech:Founded in 2013 by a group of Israeli high-tech veterans, Spondoolies is a transaction verification server manufacturer. Spondoolies raised ten million dollars in capital from leading Israeli venture capital firms and assembled a team of leaders in the Israeli Semiconductor industry, with the goal of building the infrastructure on which digital currencies will flourish. Building bitcoin transaction verifying servers from the bottom up, Spondoolies is producing machines that are designed for efficiency and performance. During 2014, Spondoolies successfully launched five different products.
Forward-Looking Statements:Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $1,048.01 (30.33 %). BUY B15.36 @ $224.87 (#Bitfinex). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $963.53 (24.98 %). BUY B16.70 @ $229.90 (#BTCe). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $889.02 (1.45 %). BUY B259.50 @ $235.00 (#BitStamp). SELL @ $236.47 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000004
Average $9.0E-6 per #reddcoin
16:00:02 || LIVE: Profit = $1,258.88 (38.71 %). BUY B13.60 @ $238.85 (#Bitfinex). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || buysellbitco.in #bitcoin price in INR, Buy : 15019.00 INR Sell : 14531.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || current #bitcoin price (winkdex) is $228.36, last changed Tue, 28 Apr 2015 03:20:00 GMT. queried at: 03:23:01 || In the last 10 mins, there were arb opps spanning 23 exchange pair(s), yielding profits ranging between $0.00 and $811.66 #bitcoin #btc || $228.00 #bitstamp;
$226.42 #btce;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || Current price: 149.55£ $BTCGBP $btc #bitcoin 2015-05-16 10:00:04 BST
|
Trend: up || Prices: 243.94, 246.99, 244.30, 240.51, 242.80, 243.59, 250.99, 249.01, 257.06, 263.07
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-04-21]
BTC Price: 235.27, BTC RSI: 47.17
Gold Price: 1202.90, Gold RSI: 52.89
Oil Price: 55.26, Oil RSI: 60.16
[Random Sample of News (last 60 days)]
FitCoin Shows How Having A Hot Body Can Literally Pay Off: Chaotic Moon Studios is giving the public another reason to get into shape with their latest offering— FitCoin, an app designed to capitalize on the growing trend of biomonitoring. The company allows anyone with a compatible fitness tracking gadget to sign up for a bitcoin wallet and convert the energy they're expending during a workout into freshly minted bitcoins. How Does It Work? The software requires users to have a wearable with a heart rate monitor and an open API, so that rules out Apple's new smartwatch, but includes several other popular offerings like Jawbone's UP3 and the Mio heart rate monitor. Once the app has been installed and set up, users can send in their heart rate measurements during their workout and the FitCoin algorithm will take that data and calculate the amount of energy expended and its worth in bitcoin. Get Fit, Die Mining FitCoin's tagline, "Get fit, die mining" was unveiled over the weekend at a demonstration of the app's functionality. Designer Grant Nicol put the device to the test on a treadmill to give spectators an idea of just how much their sweat was worth. Nicol's 40 second workout got his heart rate up to 115 beats per minute, earning him $0.05. Related Link: IBM Working On 'A Bitcoin Without The Bitcoin' What's Next While FitCoin is currently just a novelty, Nicol says the possibilities for this type of technology could be endless. Companies sponsoring athletes can use a blockchain-based system like FitCoin to reward dedication in the gym, or insurance companies could use it to reward healthy behavior with reduced premiums. The app highlights a growing trend among bitcoin enthusiasts who say the blockchain technology that powers cryptocurrencies is likely to gain mainstream adoption before the currencies themselves. See more from Benzinga 'March Madness' For Markets? Where Do Oil Prices Stand? What You Need To Know About The Euro Heading Toward Parity With The Dollar © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Fed Rate Hike Predictions Get Even Murkier: Analysts have been betting on when the Federal Reserve will raise its key interest rates ever since the U.S. central bank began tapering its controversial bond buying plan in 2014.
While many were expecting a rate hike as early as next month when the year began, most have pushed their forecasts back in light of dovish comments from the Fed and questionable economic indicators.
Conflicting Statements
Last week, Fed Chair Janet Yellen reassured markets that the bank was planning to proceed with caution in regard to a rate hike. As usual, Yellen said the bank will allow economic conditions to determine when rates can be increased, saying the decision will be re-evaluated at every FOMC meeting.
However on Friday, Fed Vice Chairman Stanley Fischer made some waves among investors aftercommentingon the bank's plans going forward during a monetary policy conference in Chicago.
Fischer remarked that it may be counterproductive for the bank to give markets too much forward guidance when it comes to raising interest rates.
His comments could indicate that the bank will not provide much warning once they've made a decision about the timing of a rate hike. Fischer also confirmed that the bank was planning to raise rates some time in 2015.
Shifting Projections
Forecasts for the timing of a rate increase have become increasingly cloudy as the bank's rhetoric suggests that even the central bankers themselves are unsure about when to act.
Economists atJP Morganare betting on a September hike, but others are more optimistic with June forecasts.
Related Link:Federal Reserve To Proceed With Caution
Data To Be The Market Focus
Although no one can be sure of when the bank will act, investors will be keeping a close eye on the spate of data due out this month for a better picture of the U.S.' economic health.
Fourth quarter GDPfigures out last week showed that the U.S. economy didn't improve as quickly as economists had predicted; the report showed that the U.S. economy grew at a 2.2 percent annual pace, lower than the 2.6 percent most had forecast.
Despite disappointing fourth quarter GDP figures, most expect that the U.S. economy will continue on a positive trajectory through the first quarter.
This week will be packed with valuable economic data that will provide some insight into the nation's first quarter performance, but the most closely watched release will be the Labor Department's unemployment report— due out on Friday.
The figures will give markets a better idea about the state of the U.S. labor market, a good indication of the pace of the nation's of recovery.
See more from Benzinga
• Bitcoin Makes Its Way To A Major Exchange
• Broadband Providers Say Government Intervention Is Not The Answer In Net Neutrality
• Greece Backs Out Of The Spotlight While Anti-Euro Sentiment Remains
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Meet The 3 Companies Goldman Sachs Says Are Leading The Bitcoin Revolution: Goldman Sachs' equity research analysts say that bitcoin and similar cryptocurrencies could be the "future of finance" as the demand for a new way to move money continues to rise.
In areporttitledThe Future of Finance: Redefining The Way We Pay in the Next Decade, authors James Schneider and SK Prasad Borra say merchants will be the largest companies to benefit from the shift toward cryptocurrencies and highlight three existing bitcoin-based businesses as the leading firms in the cryptocurrency space—Coinbase,BitPayandRipple Labs.
Coinbase
Coinbase is a California-based firm that opened the first regulated bitcoin exchange in the U.S. this year.
The company was able to raise $75 million in funding from several high profile investors including the New York Stock Exchange in order to roll out the exchange, which has gained regulatory approval in roughly half of U.S. states.
The company alsorecently joinedthe Internet Association alongside big shots likeAmazon Inc.(NASDAQ:AMZN) andFacebook Inc.(NASDAQ:FB) in an effort to keep the cryptocurrency's interests at the forefront of internet regulation.
BitPay
BitPay is a global payment processing firm that allows merchants to accept bitcoin in exchange for goods or services. The company has signed several high-profile deals in the past year, bringing bitcoin one step closer to public adoption.
Most recently, BitPay partnered with Adyen in order to make bitcoin acceptance possible for some of the world's largest companies using their current payments system.
Related Link:Bitcoin Company Raises Record Amount Of Cash For Mystery Operations
Ripple Labs
Ripple Labs is a digital payments company that uses the technology powering bitcoin in order to allow companies to transfer money internationally.
The firm uses a cryptocurrency similar to bitcoin in order to validate transactions and make worldwide money transfers in various currencies simple and cost-effective. The company recently hired Ex-Federal Reserve official Norman Reed as its Chief Compliance Officer, saying that Reed's experience will help the company move forward and integrate into the banking sector.
See more from Benzinga
• Currency War Questions Could Cloud Trade Agreements
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || BitcoinForMiles.com Readies for Take Off: ANN ARBOR, MI / ACCESSWIRE / February 26, 2015 / Bitcoin Brands Inc ( CEHC ) today announced that it has entered into the travel industry with its new service called Bitcoinformiles.com . Holders of various miles and rewards can now trade their holdings for bitcoin. Bitcoinformiles.com is a marketplace that matches buyers and sellers of frequent flier miles, reward points, and award vouchers. Consumers fill out a form on the site and receive a response often in a few hours with an offer. The site , just out of beta, is making offers for millions of airline miles and credit card points. "Travel may be one of the key drivers of bitcoin adoption. We are pleased with the number of people who have already asked to trade their rewards for bitcoin and anticipate many more in the months ahead," said Peter Klamka CEO. The company is targeting customers with high balances who have an interest digital currency. Bitcoin Brands expects to be able to offer travel services exclusively in btc to its customer base in the future. "In time, we will understand the travel needs of our customers both individuals and companies and can offer them travel services using bitcoin which may be much cheaper and more efficient," added Klamka. Bitcoin Brands Inc. also operates bitcoin ATMs. Contact Information contact@bitcoinbrandsinc.com 844-VEND-BTC Forward Looking Statements This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; changing regulations, ability to fund operations; market conditions, ability to close any transactions including those in this release, competition; economic conditions; and consumer demand. Story continues Additional considerations and risk factors are set forth in reports filed with the SEC and other filings. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements SOURCE: Bitcoin Brands Inc || The State Of The Washington D.C. Green Rush: In the weeks leading up to Washington D.C.'s legalization of the recreational use of marijuana, questions were raised as to how the city would cope with a drug that was made legal to use, but not to sell. On Thursday, voters' decision to legalize the drug kicked in despite warnings from Republicans in Congress who pointed to a spending bill that blocked the city from using its funds to legalize pot or set up any sort of system for its sales. However with legal pot a reality in D.C., many are studying the city's legal ordinances in order to find a way to benefit from the new market. Home Growing Companies selling home-growing kits have seen the most profit from the city's green rush. Since it is legal for adults to grow and smoke pot in their own homes, most are taking advantage of the new regulations in that way. Capital City Hydroponics , an indoor gardening business, said sales have risen by around 50 percent over the past two months as pot enthusiasts gear up to grow their own marijuana. Innovation New businesses revolving around pot are taking root in D.C. as well despite rules preventing traditional marijuana sales. Health seminars that charge a fee to listen to speakers but include free marijuana samples and clubs that charge for membership but allow the free exchange of pot products are just a few examples of how the city is maneuvering around the spending bill. Related Link: Feel Free To Possess And Grow Pot In D.C., If You Can Find Any... Pot Industry Still In Its Infancy Although many point to the U.S.' fractured marijuana laws as a shortcoming, some say the rules are similar to what the U.S. endured at the end of alcohol prohibition. Although the federal government has said it won't step in to overturn state laws allowing marijuana consumption, states that allow the drug aren't required to sell it. Many communities in Colorado and Washington state, where the drug has been legally sold for some time, still prohibit the sale and use of marijuana. So although D.C.'s pot market is struggling with conflicting litigation, many say growing pains like these are to be expected with a completely new industry. See more from Benzinga Bitcoin Makes Its Way To The Polls Will 3D Printing Be A Part Of The Future? Retailers Quickly Find Use For Influx Of Consumer Cash © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Coin Outlet Acquires LibertyX Bitcoin ATM Network: BURLINGTON, NC--(Marketwired - Mar 2, 2015) - Coin Outlet Inc is taking another step towards being the biggest Bitcoin ATM network by acquiring LibertyX's (formerly Liberty Teller's) ATM network. The four LibertyX machines will be rebranded as Coin Outlet ATMs but will still remain in their existing locations.
LibertyX gained fame for launching the very first Bitcoin ATM in the United States at Boston's South Station, only a year ago. LibertyX Co-Founder Chris Yim said the decision to sell the ATM arm of their company to Coin Outlet was "a natural evolution of their business and allows them to scale quickly and focus on adding partners and services to their existing 2,500 cash-to-bitcoin store locations."
Coin Outlet is also pleased to announce a newly developed backend network ecosystem that the Lamassu machines hook into. This system will allow any existing Bitcoin ATM machine or existing traditional ATM machine to exist on the Coin Outlet platform, regardless of the hardware platform of that machine.
With this development, Coin Outlet will have the capital-raising ability to acquire existing viable ATM markets with proven revenue streams, and grow rapidly.
Eric Grill, Coin Outlet's CEO, explains, "Integrating other hardware solutions into our backend network is part of our expansion strategy as it opens the door for more acquisitions and further scaling of the Coin Outlet network."
Coin Outlet, INC:Coin Outlet, INC. is a rapidly growing startup that manufactures and operates AML/KYC-compliant Bitcoin ATMs with two-way transaction functionality. It provides a convenient means for the general public to safely buy and sell bitcoins with cash. Coin Outlet is proudly supported by its lead investor Bitcoin Shop, Inc. (OTCQB:BTCS) which is building a universal digital currency platform under the BTCS ("Blockchain Technology Consumer Solutions") brand.
More information about Coin Outlet can be found atwww.coinoutletatm.comand investor information is atangel.co/coinoutlet-2 || ECB Meeting Minutes Expose Cracks In Central Bankers' Confidence: The European Central Bank's large scale bond buying plan has done wonders for the region's markets.
With the exception ofGreece, European nations' share markets have been on fire since the roll-out of ECB President Mario Draghi's highly anticipated quantitative easing plans.
The stimulus package was also seen improving the bloc's economic struggles, but many are beginning to question whether or not the bank's investment will pay off.
Minutes Show Concern
At the beginning of March, the European Central Bank predicted that the eurozone would grow 2.1 percent in 2017.
The figure was considered a product of the successful implementation of the ECB's bond buying program coupled with economic reform in struggling eurozone nations and gave investors hope that the region was turning a corner.
However, theminutesfrom that meeting, released last week, show that a strong recovery in the eurozone is anything but certain.
Related Link:Euro/Dollar Parity: What's Next?
Projections Uncertain
That 2.1 percent growth target was based on a number of factors, which ECB members said were far from being set in stone. For one, the bank's assessment of growth depended largely on oil prices remaining low throughout the next two years.
While many analysts believe that oil prices are likely to be persistently weak in the coming years due to an imbalance between supply and demand, several scenarios in which production is reduced are possible as well.
Difficulty Agreeing
Additionally, many worry that the bank's growth forecast was too optimistic regarding the willingness of eurozone nations to carry out the necessary reforms to repair the region's fractured financial system.
If the ongoing battle in Greece is any indication of the bloc's ability to come together and agree on similar fiscal objectives, there is going to be a bumpy road ahead.
See more from Benzinga
• Good Friday Not So Great, Thanks To Data
• BitPay Pulls College Football Sponsorship
• Bitcoin's Jail Stint Creates New Currency Offering
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || PayStand Launches First Mobile POS App for Credit Card, Check and Bitcoin Payments, Lowering Rates for Merchants: SCOTTS VALLEY, CA--(Marketwired - Mar 26, 2015) -PayStand, a next-generation payment platform, today announced the release of their mobile app in the Apple App Store, making it the first all-in-one mPOS (mobile point of sale) solution in the US to enable credit card, check and Bitcoin payments. Merchants on the PayStand platform can now accept payments on their iPhones at brick-and-mortar locations and out in the field, giving them significantly lower transaction rates than existing POS systems. The PayStand mobile app is a being offered as an extension of its innovative Payments-as-a-Service platform to provide flexible online checkout and payments for a flat monthly subscription instead of a complex fee structure.
"Mobile credit card payments are proliferating at the point of sale, but the fees involved have gotten too expensive for merchants," says PayStand founder and CEO Jeremy Almond. "Why should credit card processors take such a big cut off the top of a business' revenues? By offering alternative payment options like check capture and Bitcoin which are zero-percent, we're taking a big step toward our goal of eliminating merchant transaction fees."
Free card reader and photo check capture
The PayStand mobile app enables credit card payments via a card reader that fits in the audio jack of the iPhone. Merchants can swipe customers' Visa, Mastercard or American Express cards, or offer one of the app's alternative payment methods. To process a check payment, the merchant simply takes a photo of the paper check, directly debiting the consumer's bank account without any trips to the bank. To accept Bitcoin, the app displays a unique QR code which the consumer scans to pay with the funds routed to the merchant's Bitcoin wallet.
"With our mobile app, PayStand is bringing the same ease-of-use, flexibility and cost-savings to retailers at the point of sale as we provide for online merchants," said Jeremy Almond, CEO, PayStand. "We're giving merchants a single dashboard for managing all their payments, and a path to zero transaction fees."
Lower fees through community and choice
PayStand launched almost a year ago with a Payments-as-a-Service business model which for a flat monthly subscription gives merchants all the tools they need to accept credit cards, eChecks and Bitcoin directly on their websites and social media pages. Unlike other payment processors, PayStand does not mark up transaction fees, but rather aims to give subscribers the lowest possible credit card rates and alternative zero-percent payment options. As the PayStand subscriber base grows, the company is negotiating progressively lower credit card rates which are automatically passed on to customers in a process they call "rate sourcing."
PayStand has lowered its credit card rate (currently at 2.49% for Visa/MC/AmEx) four times in the past twelve months, and is planning another drop in Q2 2015. "We leverage the power of community to drive down costs for our merchants," says Almond. "In the past it's been the big banks and credit card processors who have dictated fees, but by empowering merchants to join together, we're starting to turn the tables on the old system."
The free app is currently available on the App Store and the PayStand card reader is shipped on request. Merchants must first create a PayStand account on their website to accept payments with the app.
For more information about PayStand, visitwww.paystand.com.
Images here:https://www.flickr.com/photos/96020427@N07/sets/72157649084142484/
About PayStandPayStand is a next-generation payment solution that empowers merchants to transact anywhere and keep more of their revenues. Their Payments-as-a-Service platform leverages the latest advancements in Internet, mobile and Blockchain technology to dramatically lower merchant costs. PayStand is backed by top-tier Silicon Valley venture capital firms and is a 2014 TiE50 Start Up winner. For more information, visitPayStand.com. || Juniper Sees Bitcoin Usage Growing, But Not Among Retailers: Juniper Researchissued a report on Tuesday suggesting that bitcoin adoption will increase over the next four years, but cautioned retailers against adopting it right away.
The cryptocurrency has had a rocky start, with its value plummeting and scandals depicting it as a tool for criminal activity fostering public skepticism.
However, with more and more enthusiasts working to bring bitcoin into mainstream use, its user base could continue growing.
Adoption To Rise
Juniper's report, titled "The Future of Cryptocurrency: Bitcoin & Alton Impact & Opportunities 2015-2019," predicted that bitcoin will have 4.7 million active users by the end of 2019, a significant increase from last year's 1.3 million.
That rise will likely be attributed to growing trust among investors as new regulations prevent the likelihood of fraudulent activities and money-making scams.
The study also said that bitcoin's value is likely to stabilize as adoption increases and more exchanges are developed.
Retailers Faced With Payments Questions
Despite the currency's projected growth, the study's author Dr. Windsor Holden cautioned retailers against adopting bitcoin as a form of payment right away.
Holden said retail adoption is likely to remain within niche industries; and that major retailers are better off waiting until the payments space has cleared to determine what type of transactions to invest in.
Now thatApple Inc.(NASDAQ:AAPL) has entered the mobile payments space with its new Apple Pay system, retailers will probably focus on implementing that system over bitcoin.
Related Link:Winklevoss Twins Say Gemini Will Propel Bitcoin Into Becoming A Usable Financial Option
Blockchain To Develop
The report also echoed what many bitcoin enthusiasts have been saying since the cryptocurrency's beginnings— that the technology powering bitcoin is likely to expand into new arenas.
The ledger-like blockchain technology that bitcoin runs on has the potential to be used to eliminate the middleman and settle transactions without the lag time and expense of current systems.
For that reason, the next four years will probably see blockchain being used in new ways rather than simply to power bitcoin.
See more from Benzinga
• Legal Weed Sparks Pot Tourism Industry
• Anti-Austerity Sentiment Grows Despite Economic Improvement
• Is Coffee Losing Its Luster In America?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 6 trades on big tech names: CNBC's "Fast Money" traders saw upside in embattled BlackBerry (Toronto Stock Exchange: BB-CA) after a day in which the stock popped. BlackBerry's partnership with Google (NASDAQ: GOOGL) on Android for Work and BlackBerry-owned QNX's role in car "infotainment" systems have led trader Brian Kelly to believe the company still has some juice to give. "I think if they can start to get this part of the company growing and start to do more of these deals, I think above [$12 per share] is not a problem at all," Kelly said. The stock closed Wednesday up more than 2 percent, at about $10.50 per share. Kelly noted that he owns calls that go to March, but bought the stock Wednesday because he wanted longer exposure. Trader Dan Nathan echoed Kelly's positive sentiment, adding that he owned BlackBerry calls that go to June. The company is a potential takeover target, and it's an appealing buy if any deal seems imminent, said trader Tim Seymour. Read More BlackBerry, Samsung deny takeover report "This company doesn't stay independent forever. I think you buy it on a take out," he said. Another battered tech name, Yahoo (NASDAQ: YHOO) , looks like a better buy than Alibaba (NYSE: BABA) , the Chinese giant to which it is linked, Seymour added. Yahoo owns stake in Alibaba that was worth about $40 billion late last month. Yahoo and Alibaba closed Wednesday around $45 and $86 per share, respectively. Read More Chinese rivals snap at Alibaba's heels in cross-border e-commerce race He noted that investors in Apple (NASDAQ: AAPL) , which has been trading above $125 per share, shouldn't get out of the stock until the second quarter of this year at the earliest. Disclosures: Tim Seymour Tim Seymour is long AAPL, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX and VIP. Dan Nathan Dan Nathan is long BBRY June call spread, KO March put spread, M March 65/67.50 call spread, MSFT March call spread, MU March 31/26 put spread, SHAK, XLF March put spread and XRT March 90/85 put spread. Brian Kelly Brian Kelly is long BTC=, U.S. dollar, GLD, CTRL calls, HYG puts, BBRY, BBRY call spreads and TLT. He is short EWA, EWG, EWQ, EWZ, EWW, Australian dollar, British pound, Canadian dollar, yen and yuan. Today, he bought BBRY. Jon Najarian Jon Najarian is long ABT, ADP, AMAT, AN, ATVI, AUY, BRCM, BSX, CZR, DNKN, EQT, GE, GT, HFC, HOG, HUN, INFN, KBH, KO, MW, NEE, NRG, NSAM, OKE, POST, RIG, RKUS, SFUN, SIRI, SPG, SYK, TWTR, TWX, WBA, WMB, WNR and XLE. He is long calls BYD, CZR, EQT, EWJ, HOG, RKUS and TWTR. Today, he bought CZR, CZR calls, GE, HFC, HOG, HOG calls, SPG and WNR calls. Story continues More From CNBC CNBC.com News Page CNBC.com Blogs Page CNBC.com Earnings Central View comments
[Random Sample of Social Media Buzz (last 60 days)]
buysellbitco.in #bitcoin price in INR, Buy : 16478.00 INR Sell : 15966.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || LIVE: Profit = $182.54 (0.34 %). BUY B243.92 @ $217.00 (#BitStamp). SELL @ $218.36 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || buysellbitco.in #bitcoin price in INR, Buy : 18127.00 INR Sell : 17529.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 16170.00 INR Sell : 15668.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || BTCTurk 657.55 TL BTCe 269.493 $ CampBx 260.53 $ BitStamp 276.51 $ Cavirtex 273.91 $ CEXIO 268.00 $ Bitcoin.de 244.15 € #Bitcoin #btc || Current price: 159.36£ $BTCGBP $btc #bitcoin 2015-04-10 11:00:05 BST || 2015年3月13日 19:00:02
BTC_MONA
買[bid]:2170.00000000MONA
売[ask]:2730.00000000MONA
API by もなとれ || buysellbitco.in #bitcoin price in INR, Buy : 15892.00 INR Sell : 15373.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 16474.00 INR Sell : 15964.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || LIVE: Profit = $52.20 (2.00 %). BUY B9.22 @ $282.57 (#BTCe). SELL @ $285.34 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org
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Trend: no change || Prices: 234.18, 236.46, 231.27, 226.39, 219.43, 229.29, 225.85, 225.81, 236.15, 232.08
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
7 Unknown Stocks to Invest in Before They Hit the Big Time: It’s up for debate whether the overall stock market has hit a bottom, but many stocks have clearly become oversold. That’s the case for many unknown and little-known stocks. Consequently, there are now plenty of unknown stocks to invest in that can climb tremendously.
These types of stocks, which are mostly small-cap and micro-cap names, usually are not followed by many analysts. These under-the-radar names are also too small for many institutional investors to consider. Due to both these factors, these stocks often tend to be mispriced.
It can take the market a long time to determine fair prices for underfollowed stocks. As a result, small investors have plenty of time to uncover these hidden gems before they take off.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Undervalued and under-the-radar, these seven unknown stocks provide investors with big opportunities. Once the bull market returns, all of them could rally tremendously.
[{"ACTG": "ALTO", "Acacia Research": "Alto Ingredients", "$4.03": "$3.79"}, {"ACTG": "HDSN", "Acacia Research": "Hudson Technologies", "$4.03": "$6.82"}, {"ACTG": "KTEL", "Acacia Research": "KonaTel", "$4.03": "$1.29"}, {"ACTG": "NLCP", "Acacia Research": "NewLake Capital Partners", "$4.03": "$14"}, {"ACTG": "PLPC", "Acacia Research": "Preformed Line Products", "$4.03": "$72.40"}, {"ACTG": "THRY", "Acacia Research": "Thryv Holdings", "$4.03": "$22.95"}]
Acacia Research(NASDAQ:ACTG) is what’s known as a net operating loss (or NOL) shell. For several years, Acacia’s objective has been to monetize the tax deductions it accumulates by losing money. It accomplishes that goal by purchasing cash-generating assets and businesses.
ACTG stock soared during 2021, thanks to its successful investments in the biotech space. In the past year, though, Acacia’s shares have retreated. At first glance, it may seem that the company’s good days are behind it. But that conclusion may not be accurate.
Acacia is currentlynegotiating with its main shareholder,Starboard Value,to obtain more capital from Starboard. Their plan mainly involves Starboard exercising its warrants to buy ACTG stock.
If Starboard exercises its warrants, Acacia will have the ability to pursue larger deals. And larger deals could raise ACTG’s profile, helping to liftits stock price, whose valuation is currently below the company’s book value.
Alto Ingredients(NASDAQ:ALTO) is a maker of industrial alcohols and fuel-grade ethanol. A big jump in ethanol prices, plus a shift towards producing specialty alcohols, dramatically raised Alto’s profitability.
While these factors resulted in ALTO stock going parabolic in late 2020, since 2021 the stock has delivered a mixed performance. The few market participants following Alto are on the fence as to whether the company’s long-term strategic plan to become a maker of more profitable specialty alcohols will succeed.
However, Alto’s management appears confident that the company will continue to report strong results. Alto plans to return much of its recent earnings back to its shareholders through a $50 million share repurchase program.
Trading for just 12.3 times its earnings, Alto’s stock has ample room to run if the company can successfully raise its profit margins.
It may be a stretch to say thatHudson Technologies(NASDAQ:HDSN) is an unknown stock, since the shares of this refrigerant services company have more than doubled over the past year.
Yet while some investors have already become aware of HDSN, that doesn’t mean that the shares are accurately priced. Although Hudson’s profit are expected to drop next year, its stock today trades for justseven times analysts’ average 2023 earnings per share estimate. This valuation would make sense, if this company’s earnings were on track to keep declining over the next few years.
But as aSeeking Alphacommentator argued in August, changes in federal environmental regulations will boost Hudson Technologies’ financial results. Those changes will enable the company to continue to report strong results, boosting the shares and potentially enabling them to climb 100% or more.
Despite the big rally ofKonaTel(OTCMKTS:KTEL)stock since 2020, KONA, which provides government-subsidized phone and mobile data services, remains one of the best unknown equities to invest in. While the shares are up more than 20-fold since 2020, so far they haveonly caught the attention of a small number of retail investors
This could, however, change over time. Operating in a niche, recession-resistant industry, KonaTel could continue to grow at an above-average pace, boosting its profitability and enabling KTEL stock to rise much further.
And as the company grows, it may decide to move its shares from the over-the-counter market to a major exchange like theNasdaq. That would make it more visible to investors, boosting its valuation.
With the legalization of marijuana in several U.S. states, a new type of real estate has emerged: industrial space that’s used for pot production. As a result, several cannabis-themed real estate investment trusts (or REITs) have emerged.
Innovative Industrial Properties(NYSE:IIPR) is the most well-known such REIT, but relatively unknownNewLake Capital Partners(OTCMKTS:NLCP) may be the better buy. With itsrecent dividend increase, NLCP’s forward dividend yield is now nearly 10%. IIPR stock, in contrast, has a forward yield of around 7.4%.
NLCP trades at a price-to-funds-from-operations (P/FFO) ratio of just 9.4 times, versus 12.2 times for IIPR. One way NewLake could close this valuation gap is to move its shares from the OTC market to a major exchange.
The continued legalization of pot by U.S. states and possibly by the American federal government can also boost this underfollowed specialty REIT.
Preformed Line Products(NASDAQ:PLPC) manufactures anchoring and control hardware products for the telecom and utilities industry. A low-profile company in a dull industry, PLPC unsurprisingly hasn’t gotten a great deal of buzz.
Preformed also is not currently covered by any Wall Street analysts. These factors work to your advantage, however because you can buy PLPC stock at its current low valuation of eight times its earnings, as the market remains largely unaware of its long-term potential.
PLPC actually has a great deal of exposure to the rise of electric vehicles (or EVs). As one online commentator has argued, PLPC is a“backdoor EV play.”That’s because mass adoption of EVs is going to require an expansion of America’s power grid.
That, in turn, will create strong demand forPreformed Lineproducts, enabling its profits to continue to grow and raising PLPC stock.
From mid-2021 through early 2022,Thryv Holdings(NASDAQ:THRY) became much better known. That’s because the market began to become more aware of this phone book publisher’s metamorphosis into a business software company and bid up its shares.
Unfortunately, due to this year’s recession worries, THRY stock has pulled back, and not many people are talking about it. However, as shown by its latest financial results, Thryv is continuing to transform itself. Indeed, its old business continues to generate positive cash flow that it’s using to fund the growth of its software-as-a-service (SaaS) platform.
Meanwhile, the SaaS business keeps growing. Last quarter, its total SaaS revenue jumped26%year-over-year. If Thryv can continue to “thrive” despite a looming recession, those already aware of THRY stock could regain their confidence in its transformation. Also, more investors could become acquainted with this under-the-radar SaaS play, enabling its shares to hit new highs.
Onthe date of publication, Thomas Nielheld long positions in ACTG and THRY.The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016.
• Buy This $5 Stock BEFORE This Apple Project Goes Live
• The Best $1 Investment You Can Make Today
• Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”
• It doesn’t matter if you have $500 or $5 million. Do this now.
The post7 Unknown Stocks to Invest in Before They Hit the Big Timeappeared first onInvestorPlace. || Aptos Market Debut: More Than $1 Billion Worth of APT Traded in First Week: Even if much of the discourse about Aptos this week has ranged from snide remarks to outright condemnation, the newest cryptocurrency on the market is gaining a lot of attention, generating considerable volume in its first few days of trading.
As of Friday afternoon, APT, the native coin of the Aptosblockchain, has done at least $1.3 billion in volume since Wednesday, its first full day of trading, according to CoinGecko. It’s an interesting counterpoint to all of the derision that the project took on Crypto Twitter, which is the closest thing the industry has to a town square.
The much-hyped blockchainunveiled its mainneton Monday. Over the next 24 hours the project tooka lot of criticismfor the lack of transparency around its tokenomics—that is to say, the specifics of the cryptocurrency’s economic model and distribution.
Crypto podcaster Cobie took aim at exchanges planning to list the APT token before the tokenomics had been made public.
Then, when the details of its token distribution leaked, the team confirmed them in a blog post and took a new round of criticism.
That’s because 51% of the APT supply is sitting with venture capital firms. For some traders, like an investor who goes by "iamDCinvestor" on Twitter, that’s an indication that the entire project is “a fairly blatant cash grab.”
On Tuesday afternoon, Aptos co-founder and CEO Mo Shaikh tookto Twitterto address concerns and acknowledge that the launch “could have gone better.” This all happened right before the token began trading that evening. Then, in its first few hours, APTplummeted by 40%.
Its price hasn’t improved much since then. As of Friday afternoon, it’s trading at $7.38—down 46% from its first trade, according to CoinGecko. Still, the token has a market capitalization of $963 million. That puts it ahead of KuCoin, TrueUSD, Pax Dollar, and Maker’s native token MKR.
All the attention, even if the bulk of it has been negative, means there’s been lots of APT changing hands on crypto exchanges.
Binance has accounted for more than half of all the daily APT spot trading every day since the token launched on Tuesday night. As of this writing, the world's largest cryptocurrency exchange has seen $193 million, or 57%, worth of trades across its five APT trading pairs in the last 24 hours.
Huobi Global, which normally falls just outside the top 10 crypto exchanges by volume, has seen an outsized portion of APT trades. It accounted for 11% of all spot volume and saw $39 million worth of APT traded across its three pairs (Tether, USD Coin and Tron’s USDD stablecoin) since yesterday.
That means the APT-USDT pair has done more volume on Huobi than the USDC-, Solana- and Huobi Token-USDT pairs.
Meanwhile, the perpetual contracts that the Aptos team wasrumoredto have been asking exchanges not to launch so soon, have seen a lot of action.
A crypto newsletter author, who goes by "alpha_pls" on Twitter, was one of many to urge traders to “send Aptos to zero.”
The way that traders can do that, or at least bet against an asset, is by opening short derivative positions.
Futures contracts are a type of derivative that allows investors to bet on price movements of an underlying asset. To be short on an asset means an investor thinks the price will go down; being long on an asset means an investor is betting its price will go up.
A standard futures contract expires over the course of a couple weeks, months or even years. But a perpetual contract remains open—meaning that the trader remains exposed to the risk that they’ll be liquidated if the market swings too far in one direction.
The open interest, or open derivatives contracts for APT, peaked at 11 a.m. on Wednesday, October 19 at $153 million, according toCoinalyze. That's around the time APT had rebounded slightly from its low of $6.75. Since then open interest has held pretty steady at around $130 million.
Coinalyze aggregates the value of open APT futures positions across Binance, FTX, OKX, Huobi, Bybit, and Bitmex. That doesn’t capture all of the exchanges offering perpetual contracts for Aptos, but they are the largest.
In the last 24 hours, there’s been $2.5 million worth of liquidations on APT futures contracts—a sign of just how volatile the price has been and, perhaps, how overzealous traders have been in placing bets on its fate.
That makes Aptos contracts the fifth highest for liquidations in the past day, behind Bitcoin, Ethereum, Ripple’s XRP, and Solana, according to Coinalyze.
Most exchanges will automatically liquidate, or sell a trader’s assets for cash, if they can’t meet the margin on their futures position. The risk of liquidation increases if the underlying asset is especially volatile, a trader has high leverage on their position, or both.
When a trade is leveraged, that means the trader has placed a bet with money they don’t have in their account and have essentially borrowed from the exchange. For example, Binance allows traders to open perpetual APT contracts with 25x leverage. That means someone could open a contract worth $2,500 with only $100.
But if APT price went up when a trader bet it would go down, they could be forced to add more margin to that $100 or risk being liquidated. Liquidation means a trader loses all their cash and usually needs to pay a liquidation fee to the exchange.
Early on Wednesday morning, leverage on Aptos perpetual contracts accounted for 9% of APT’s circulating supply, according to Arcane Research analyst Vetle Lunde. But the funding rates were extremely negative, he pointed outon Twitter, meaning traders shorting APT would have had to spend a lot of money to maintain their positions.
But the Aptos funding rates onBinanceandFTXhave gotten close to or recently become positive. That means traders who managed to hang onto their short positions could soon drive the token’s price even lower.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. || Tuesday evening UK news briefing: Suella Braverman accuses Tory rebels of staging 'coup': Evening Briefing logo Evening briefing: Today's essential headlines Ukraine war | Evacuation centres in Kyiv are being given iodine pills in case of a nuclear strike on the capital, the city council has announced. In a statement, authorities said pills will be distributed to residents in areas contaminated by nuclear radiation if there is a need to evacuate. Meanwhile, a new ship that can launch drones to keep the seabed under surveillance for threats to underwater cables and pipelines will be purchased for the Royal Navy immediately , the Defence Secretary said. Sepsis death | Doctors 'argued for hours over where to treat woman' Facing death penalty | Woman killed friend and cut out unborn baby Duchess of Sussex | Why she criticised Austin Powers and Kill Bill Wagatha Christie | Rebekah Vardy could pay over £1.5m of legal costs Jeremy Paxman | Parkinson's diagnosed after less 'exuberant 'on TV The big story: Truss has 10 days to save job, says Shapps It could be argued the last 10 days have been ugly for the Conservative party. Today, things got uglier. Grant Shapps has suggested Liz Truss has 10 days to save her premiership in the wake of her mini-Budget and U-turns on key policies. Meanwhile, Suella Braverman has accused Tory rebels of staging a "coup" to force the Government to scrap its plan to abolish the 45p top rate of income tax. The Home Secretary singled out Michael Gove for specific criticism, saying she was "very disappointed" that some Tory MPs had led calls for the proposal to be ditched. Ms Braverman made the comments on the Chopper's Politics podcast at the Tory party conference, as a fresh faultline emerged in the Conservative Party ranks over Ms Truss's benefit plans. Downing Street is considering a real terms cut to Universal Credit by linking it to a lower metric than inflation, such as the increase in average earnings. Yet Penny Mordaunt has urged Ms Truss to increase benefits in line with inflation , while Mr Gove, as well as leading a rebellion over the 45p rate, is now angling for a climbdown on the benefits proposal. Story continues Camilla Tominey sets out why "snake" Mr Gove will not be invited back to No 10 any time soon. The Conservative chairman hinted he was open to a policy change on benefits as a battle emerged over whether they should rise in line with inflation or wages. Asked by the Telegraph whether benefits should continue to rise with inflation, Jake Berry replied: "Well look, I mean, let's see where the debate goes." Even former Tory party leader Sir Iain Duncan Smith said he would oppose a move by the Government to increase benefits by less than the rate of inflation. Gordon Rayner analyses whether the Tory Party has become ungovernable . Kwarteng confusion The Government is trying to wrestle back control of the narrative but Kwasi Kwarteng sparked confusion this lunchtime when he indicated he would not be bringing forward his fiscal plan - just hours after telling the Conservative conference it would be published "shortly". The Chancellor told GB News the medium-term fiscal statement will be published as planned on November 23, even though on Monday night, a Treasury source had said the fact Mr Kwarteng had used to work "shortly" meant the plan was being brought forward. Ben Wright says cornered Mr Kwarteng wants to convince markets he is realistic but it may be too late . Inheritance tax Despite the turmoil caused by the tax-cutting mini-Budget, today there was an indication of what the next target could be for Trussonomics. Andrew Griffith, a City minister who works under the chancellor, said the Government should abolish inheritance tax , adding it would be his top choice of taxes to scrap. Tom Harris says Sir Keir Starmer fails to grasp a crucial lesson from Sir Tony Blair: there is nothing wrong with wanting to pay less tax . John Longworth says Trussonomics is – or ought to be – the opposite of austerity. The Left should love it . Comment and analysis Hamish de Bretton-Gordon | It is time to call Putin's bluff Jeremy Warner | Thirty years of pension vandalism led to gilts crisis Ambrose Evans-Pritchard | Europe is next in line for market pain Charles Moore | The 45p income tax U-turn is a totemic moment Celia Walden | People too easily forget The Crown is not reality TV Around the world: Retreat into nuclear paranoia On the demilitarised border between North and South Korea, the only sign of activity on the northern side after Pyongyang's audacious missile test over Japan this morning was the twitching of white curtains in the windows lining the austere Phanmun Pavilion. Weeds now sprout through the pebbled ground on the North Korean side of the military demarcation line, marked by the long, narrow block where former US President Donald Trump made history in 2019 by becoming the first sitting American leader to step over from South to North. Now, alongside Pyongyang's escalating missile launches this year, the messy undergrowth and unwashed windows of the blue huts that have long served as negotiating rooms, are another sign of unfulfilled expectations for peace. Nicola Smith sets out how the overgrown border proves curtain-twitching North Korea is retreating into nuclear paranoia . Tuesday interview 'I heard my leg snap. Then I was screaming uncontrollably' Jonny Bairstow's freak injury has ruled him out of the World Twenty20 and the rest of the international year - Paul Cooper for The Telegraph At the peak of his form in an incredible summer, England batsman Jonny Bairstow suffered a freak injury that sparked much feverish, risible speculation. He tells all to Will Macpherson Read the interview Sport briefing: Raducanu must 'learn to enjoy winning' Emma Raducanu lost to Daria Kasatkina in the Ostrava Open and former British No 1 turned broadcaster Sue Barker suggests the former US Open winner missed out on fun and needs to learn how to enjoy winning . In football, Nottingham Forest's recruitment chiefs are facing the sack after the club's mammoth £150m summer spend. Evangelos Marinakis, the Forest owner, is set to take drastic action after the poor start to the season by axing some of the key men behind their transfer window. Meanwhile, grassroots referees are considering a national strike after an official suffered severe injuries during a "serious assault" on Sunday. Editor's choice Marriage Diaries | I think I've outgrown my ill-educated, boorish husband Hitting our lifespan | When it comes to a healthy diet, we're kidding ourselves Rob Rinder | 'I met Harry Styles at the gym; it was the worst social car crash ever' Business briefing: Germany may cut electricity exports German electricity exports to France and other European allies may have to be halted this winter if the country's network is pushed to the brink, one of its biggest power grid operators has warned. Hendrik Neumann, chief technical officer of Amprion, said a total halt or reduction in exports may be necessary in the event Germany faced its own electricity shortages. With supplies extremely tight, Mr Neumann's warning will add to fears that European unity could splinter, with countries prioritising their own grids in times of crisis. Meanwhile, the former Conservative Party Treasurer has claimed Bitcoin is the "child of the great quantitative easing" by the likes of the Bank of England. Tonight starts now Champions League | Tottenham take on Eintracht Frankfurt tonight, while Liverpool host Rangers in the first all-British clash of this season's European competition. It had been expected that this would be the season of the new No 9s at Manchester City and Liverpool but their fortunes have been very different. The Community Shield, when Darwin Núñez's late cameo overshadowed a rusty performance by Erling Haaland, looks like it happened in another era. Yet the striker is not the first Jürgen Klopp signing who has been held back before being trusted with a regular starting place. Chris Bascombe analyses how worried Liverpool should be about Núñez . Follow the footballing action here . Three things for you Watch | Paxman: Putting Up With Parkinson's, ITV, 9pm Read | John le Carre's former mistress spills the beans in lurid memoir Puzzles | Try all-new interactive versions of our world-famous games And finally... for this evening's downtime The billion-dollar art sale | The collection of late Microsoft co-founder Paul G. Allen is likely to become the highest-value single-owner sale ever. Look at the auction that will go down in history . If you want to receive twice-daily briefings like this by email, sign up to the Front Page newsletter here . For two-minute audio updates, try The Briefing - on podcasts, smart speakers and WhatsApp. || Stronghold Digital Mining Provides Update on Previously Announced Debt Reduction and Favorable Mutual Termination of Northern Data Hosting Agreement: Stronghold Digital Mining, Inc. NEW YORK, Oct. 14, 2022 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, or the “Company”) today provided an update on its previously announced agreement with NYDIG ABL LLC (“NYDIG”) and the Provident Bank (“BankProv”), to eliminate approximately $67 million in principal amount of debt outstanding (the “Debt”) under equipment financing agreements. Separately, the Company also announced its recent mutual termination and settlement of its data center hosting agreement. The Company believes that the settlement is materially beneficial to cash flow generation and operational flexibility. Stronghold has posted an investor presentation to its Investor Relations website to supplement this press release, which can be found in the Events and Presentations section. NYDIG Equipment Financing Update As previously disclosed on August 16, 2022, affiliates of Stronghold entered into an Asset Purchase Agreement (“APA”) with NYDIG and BankProv to return approximately 26,000 Bitcoin mining rigs that served as collateral under equipment financing agreements (the “APA Collateral”) in exchange for the extinguishment of approximately $67 million of principal amount of debt outstanding. On September 30, 2022, Stronghold completed the sale of the initial three tranches of the APA Collateral to BankProv in exchange for the extinguishment of approximately $27 million of the Debt. On October 13, 2022, Stronghold completed the sale of three tranches of APA Collateral to NYDIG in exchange for the extinguishment of approximately $38 million of the Debt. As of October 13, 2022, approximately $65 million of the $67 million of Debt has been extinguished following the delivery of miners to NYDIG and BankProv between August 16, 2022 and October 12, 2022 pursuant to the APA. As of October 13, 2022, the Company has transferred to NYDIG and BankProv all of the approximately 26,000 Bitcoin mining rigs that served as collateral under the Debt except for approximately 500 Bitcoin mining rigs that are currently in the possession of U.S. Customs and Border Control in California. The Company expects these remaining miners to be released in the near future, after which, following an inspection period, the remaining approximately $2 million of Debt will be extinguished in accordance with the APA. Favorable Northern Data Hosting Agreement Termination On September 30, 2022, Stronghold entered into a Settlement Agreement (the “Settlement Agreement”) with Northern Data PA LLC (“NDPA”) and 1277963 B.C. Ltd. (“Bitfield”, and together with NDPA, “Northern Data”) to mutually terminate the data center hosting agreement at the Company’s Scrubgrass plant. Pursuant to the Settlement Agreement: Story continues 1) Stronghold will not pay any future profit share payments to Northern Data, which was expected to be 35% of miner revenue, net of a $0.027/kWh power cost. The Company estimates these payments were to be approximately $0.5 to $1.1 million per month until the halving in April of 2024 and approximately $10 to $25 million cumulatively through September 2024, which is based on the following assumptions: 1) Bitcoin price range of $17,500 to $30,000, 2) network hash rate of 250 EH/s through the halving in April 2024 and reduced by 35% thereafter, 3) approximately 1.33 EH/s of hash rate capacity, 4) average miner efficiency of 37 joules per terahash, and 5) miner uptime of 95%. 2) Stronghold to operate the approximately 50 MW of modular miner pods capable of hosting over 14,200 Bitcoin miners, equating to approximately 1.25 to 1.5 EH/s. The Company believes operating the miner pods will allow more flexibility to optimize profitability by either mining Bitcoin or selling power to the PJM power grid. In return for operating the pods, the Company will incur a de minimis $1,000 per year leasing expense. 3) Settlement Agreement eliminates the approximately $2.6 million accrued liability on Stronghold’s balance sheet as of June 30, 2022. 4) At the end of the two-year lease term, Stronghold has the option, but not the obligation, to purchase the Northern Data pods for between $2 million and $6 million, depending on prevailing hash price at time, net of up to $1.5 million in expenditures that the Company has the option, but not the obligation, to spend if it deems necessary in order to upgrade or maintain the pods. 5) Stronghold to pay Northern Data $4.5 million, of which the Company paid $2.5 million on October 3, 2022 and will pay an additional $1 million prior to October 31, 2022, and $1 million prior to November 30, 2022. Management Commentary “We are pleased to have closed on a significant portion of our debt restructuring with NYDIG and look forward to eliminating the small remaining piece of this debt in the near future. These closings continue our meaningful transition towards a deleveraged company that can either sell power to the grid or use its low cost self-generated power to mine for Bitcoin,” said Greg Beard, co-chairman and chief executive officer of Stronghold. “We are also satisfied with the settlement of our prior hosting agreement, which provides us with improved operational control of our Bitcoin operations and a material uplift to our cash flow generation over the next two years, as well as significant optionality. Overall, we believe that we continue to make significant progress towards improving our balance sheet, liquidity and cost structure to deliver shareholder value.” About Stronghold Digital Mining, Inc. Stronghold is a vertically integrated Bitcoin mining company with an emphasis on environmentally beneficial operations. Stronghold houses its miners at its wholly owned and operated Scrubgrass Plant and Panther Creek Plant, both of which are low-cost, environmentally beneficial coal refuse power generation facilities in Pennsylvania. Investor Contact: Matt Glover or Jeff Grampp, CFA Gateway Group, Inc. SDIG@GatewayIR.com 1-949-574-3860 Media Contact: contact@strongholddigitalmining.com Forward Looking Statements: The information, financial projections and other estimates contained herein contain “forward-looking” statements as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including, but not limited to the anticipated performance of the Company as a result of the recent restructuring of the Company’s debt. Such financial projections and estimates are as to future events and are not to be viewed as facts, and reflect various assumptions of management of the Company concerning the future performance of the Company and are subject to significant business, financial, economic, operating, competitive and other risks and uncertainties and contingencies (many of which are difficult to predict and beyond the control of the Company) that could cause actual results to differ materially from the statements and information included herein. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue,” “target” or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Forward-looking statements may include statements about various risks and uncertainties, including those described under the heading "Risk Factors" as detailed from time to time in Stronghold’s reports filed with the SEC, including Stronghold’s annual report on Form 10-K, periodic quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC. Such risk and uncertainties are not exclusive. Any forward-looking statements speak only as of the date of this communication. The Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements. In addition, such information, financial projections and estimates were not prepared with a view to public disclosure or compliance with published guidelines of the SEC, the guidelines established by the American Institute of Certified Public Accountants or U.S. generally accepted accounting principles (“GAAP”). Accordingly, although the Company’s management believes the financial projections and estimates contained herein represent a reasonable estimate of the Company’s projected financial condition and results of operations based on assumptions that the Company’s management believes to be reasonable at the time such estimates are made and at the time the related financial projections and estimates are disclosed, there can be no assurance as to the reliability or correctness of such information, financial projections and estimates, nor should any assurances be inferred, and actual results may vary materially from those projected. This presentation includes financial measures that are not presented in accordance with GAAP. While management believes such non-GAAP measures are useful, it is not a measure of our financial performance under GAAP and should not be considered in isolation or as an alternative to any measure of such performance derived in accordance with GAAP. These non-GAAP measures have limitations as analytical tools and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP. Certain information contained herein has been derived from sources prepared by third parties. While such information is believed to be reliable for the purposes used herein, none of the Company or any of its affiliates, directors, officers, employees, members, partners, shareholders or agents makes any representation or warranty with respect to the accuracy or completeness of such information. Although the Company believes the sources are reliable, it has not independently verified the accuracy or completeness of data from such sources. Additionally, descriptions herein of market conditions and opportunities are presented for informational purposes only; there can be no assurance that such conditions will actually occur or result in positive returns. Recipients of this presentation should make their own investigations and evaluations of any information referenced herein. Information regarding performance by, or businesses associated with our management team and their respective affiliates is presented for informational purposes only. You should not rely on the historical record of our management team’s performance or the performance of their respective affiliates as indicative of our future performance. The recipient should not construe the contents of this presentation as legal, tax, accounting or investment advice or a recommendation. The recipient should consult its own counsel, tax advisors and financial advisors as to legal and related matters concerning the matters described herein. By reviewing this presentation, the recipient confirms that it is not relying upon the information contained herein to make any decision. This presentation does not purport to be all-inclusive or to contain all of the information that the recipient may require to make any decision. View comments || 7 Penny Stocks to Buy Now for Extraordinary Gains: If your initial instinct is that penny stocks represent extraordinarily risky ideas that feature little chance for success, you would be 100% correct. Clearly, conservative or risk-averse investors will find this subsegment of the market anathema to their approach. At the same time, no one investor is identical to the other. Considering the wider audience, some folks might like or even prefer penny stocks. If you must buy them for whatever reason, Im not here to judge you should do so smartly. Assess ideas tied to relevant or intriguing fundamentals. While going with this approach yields absolutely zero guarantees, you might improve your probabilities of success. And by improve, Im talking maybe single digits. If you still want to move forward despite the warnings, here are seven penny stocks to consider. InvestorPlace - Stock Market News, Stock Advice & Trading Tips BNGO BioNano Genomics $2.11 DNN Denison Mines $1.23 VZLA Vizsla Silver $1.22 APGMF Applied Graphene Materials $0.18 GTE Gran Tierra Energy $1.36 SIRC Solar Integrated Roofing $0.18 AIRI Airi Industries $0.69 BioNano Genomics (BNGO) Bionano Genomics (BNGO) company logo on a website with blurry stock market developments in the background Source: Dennis Diatel / Shutterstock.com Though the clinical-stage biotechnology arena features an incredibly risky platform for penny stocks to buy, BioNano Genomics (NASDAQ: BNGO ) brings some encouraging fundamentals to the table. Specializing in structural variation detection for genetic disease and cancer research, BioNano represents a preventative force. As most folks know, early detection is vital for surviving conditions like cancer. Moreover, the company made significant progress with its clinical trials, recently delivering landmark results regarding the utility of optical genome mapping (OGM) in detecting myelodysplastic syndrome (MDS). By delivering better results over traditional methodologies, BioNano hopes that OGM technology can help facilitate superior patient outcomes. Though encouraging, BNGO stock remains largely the domain of market speculators. On a year-to-date basis through the Sept. 20 session, BNGO lost 34%. Indeed, in the trailing month, shares slipped more than 16%, demonstrating the volatility of penny stocks. Story continues Nevertheless, with much red ink already priced in, gamblers could see upside value in the underlying fundamentals. Denison Mines (DNN) Uranium on top of black rock background. Source: RHJPhtotos / Shutterstock A uranium exploration and development firm, Denison Mines (NYSEAMERICA: DNN ) makes for a rather controversial idea among penny stocks to consider. After all, most if not every adult is familiar with the longstanding consequences of nuclear facilities gone awry. At the same time, the fundamental realities of nuclear powers indelible relevance could turn DNN around. Two factors immediately come to mind. First, nothing comes close to the energy density of nuclear fuel. Unless you know of another energy source where one fuel pellet features the power potential inherent in 149 gallons of oil, uranium will be scientifically and economically relevant. Second, nuclear power is reliable. Indeed, its the most reliable energy source. Underlying facilities feature a capacity factor of nearly 93% . This means that 93% of the time every year, nuclear powerplants deliver maximum power distribution. Nothing else comes close. Still, DNN presents risks, with shares down 19% for the year. However, in the trailing month, DNN gained 15%, likely on geopolitical factors crimping vital energy supplies. Vizsla Silver (VZLA) Macro of silver Source: Phawat / Shutterstock.com Vizsla Silver (NYSEAMERICA: VZLA ) may intrigue those interested in both penny stocks and real money ideologies. Vizsla is a mining firm , focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. As a resource exploration firm, VZLA presents myriad risks. Fundamentally, companies in this subsegment can strike gold (literally in this case) or they can fail badly. Without knowing until you really know, mining exploration firms sometimes feature a binary hit-or-miss profile. In addition, the Federal Reserves stated intention to implement a hawkish monetary policy implies deflationary pressures. Should these pressures get too out of hand, inflation-dependent names like precious metal mining firms could suffer. However, its also possible Vizsla Silver can bank on the fear trade. That is, with the stability of the dollar under question based on rapid purchasing power changes, some investors may turn to hard asset-related securities. With VZLA being one of the penny stocks, it might not require that much coaxing. Applied Graphene Materials (APGMF) A digital illustration of 3D graphene molecules. Source: Shutterstock Billed as a world leader in the development and application of graphene nanoplatelet dispersions for customers in the coatings, composites and functional materials sectors, Applied Graphene Materials (OTCMKTS: APGMF ) may be appropriate for those who want to take an extreme bet among penny stocks. Just to reiterate, when I say extreme, Im not messing around. With shares exchanging hands at less than two dimes, APGMF can get very hairy. Nevertheless, Applied Graphene brings a compelling prospect to the table because of the underlying commodity. A one-atom-thick layer of carbon atoms arranged in a hexagonal lattice, graphene represents the worlds thinnest material . At the same time, its incredibly strong, featuring multiple applications across various industries. From fire retardants to concrete reinforcements to military armor, graphene enjoys the potential to change the world. Thats no guarantee that APGMF will outperform other penny stocks. Still, speculators can dream and bid up shares in the over-the-counter market. Gran Tierra Energy (GTE) In the field, the oil pump in the evening, the evening silhouette of the pumping unit, the silhouette of the oil pump. Oil stocks Source: zhengzaishuru / Shutterstock.com While the Feds hawkish policies may have contributed to a (relative) decline in fuel prices, USA Today reported recently that energy bills might rise this winter . Cynically, this circumstance if it materializes would likely benefit Gran Tierra Energy (NYSEAMERICAN: GTE ). The company is an oil and natural gas exploration firm. This winter, the European Union will cease, for the most part, buying Russian oil, and in addition, they will ban the provision of services that enable Russia to ship oil by tanker, Treasury Secretary Janet Yellen told CNN recently. It is possible that could cause a spike in oil prices. Although trading on bloody geopolitical dynamics isnt exactly everyones cup of tea, the narrative bodes well for GTE stock. Essentially, the framework is all about Economics 101: less supply, greater demand. To be fair, GTE may have the opposite problem of typical penny stocks shares jumped tremendously and sustainably. On a YTD basis, GTE has gained a staggering 70%. Still, trading at only $1.35 at time of writing, it offers psychologically speculative appeal. Solar Integrated Roofing (SIRC) An orange slanted roof covered in solar panels. Source: Shutterstock If one fundamental factor roundly supports the bullish case for Solar Integrated Roofing (OTCMKTS: SIRC ), it could be climate change. An integrated, single-source solar power, roofing systems installation and electric vehicle charging company, Solar Integrated may see increased demand as temperatures rise. In turn, the hotter-than-usual weather forces utility bills to skyrocket, inspiring residential owners to find effective solutions. Indeed, global heat waves may facilitate organic marketing for Solar Integrated. Recently, California endured a significant heat wave, enough so that it almost broke the power grid . However, folks there might not be so lucky if temperatures continue to be unrelenting in the summer months. Thus, forward-thinking individuals might just make the transition to solar, possibly helping SIRC. I say possibly because were still talking about penny stocks. With SIRC, the label is literal, trading hands for 18 cents. In just the trailing month, shares slipped a staggering 55%. For some hardened traders, that could be a buying signal. Air Industries (AIRI) AIRI stock: Close top view of a F-35C Lightning II with afterburner on Source: ranchorunner / Shutterstock With Russias brazen invasion of Ukraine, the defense industry suddenly attracted the spotlight for obvious reasons. However, some investors may not realize that even in the realm of penny stocks, potentially viable defense contractors exist. One example is Air Industries (NYSEAMERICAN: AIRI ). Specializing in aerospace parts manufacturing, Air Industries serves advanced fighter jets, including the F-35 Lightning II. At the moment, the company doesnt have a clear relationship to the ongoing Ukraine crisis. It may in the future, depending on how the conflict materializes, though thats not why Im interested in Air Industries. Rather, the rest of the world seems to be getting their boxing gloves on. For instance, you have decades-long tensions between China and Taiwan. Additionally, a border conflict recently erupted between Kyrgyzstan and Tajikistan, implying Russias military excursions may have created disruptions in the regions of the former Soviet Union. With more potential fireworks on the way, AIRI might be a smart bet among penny stocks to consider. On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks How to Profit Without Getting Scammed On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air It doesnt matter if you have $500 or $5 million. Do this now. The post 7 Penny Stocks to Buy Now for Extraordinary Gains appeared first on InvestorPlace . || Bitcoin below $19k as investors retreat ahead of expected Fed rate hike: Jerome Powell, chair of the US Federal Reserve Board. The board is expected to hike interest rates this week. Photo: Elizabeth Frantz/Reuters. (Elizabeth Frantz / reuters) Bitcoin fell below $19,000 (£16,745) as a cautious attitude arose ahead of this week's Federal Reserve interest rate decision. The US central bank is forecast to persist with its rate hike increases until a peak of 4.26% in March 2023. Investors are worried that aggressive monetary tightening measures could tip the US economy into a recession. On Wednesday the Federal Reserve is expected to raise the interest rate by 75 basis points. Read more: Ethereum price drops 20% as SEC declares control over network This could see a target federal funds rate of 3.0% to 3.25%, the highest level in 14 years. On the eve of any announcement, Wall Street trader momentum took a cautious turn. In the lead-up to Wednesday's meeting, the S&P 500 ( ^GSPC ) closed for the third straight session below 3,900 points. The benchmark S&P 500 index ( .SPX ) has dropped 19.1% since the beginning of 2023 and many financial commentators are forecasting a financial crash that could dwarf the last one, the sub-prime mortgage collapse of 2007-2008. Watch: 'Digital assets will be as big as the internet itself': Senator Cynthia Lummis Economist Nouriel Roubini, recently argued the Federal Reserve might have to double interest rates to 5% in order to curb inflation. Speaking at a recent eToro webinar Roubini said: "I worry about a stagflationary debt crisis, because you have the worst of the '70s in terms of supply shocks, and you have the worst of the global financial crisis because of too much debt, and that combination is dangerous. "If you're behind the curve, eventually the recession is going to be more severe, the loss of jobs and income and wages is going to be more severe," he noted, referring to the Fed's rate hikes relative to inflation. "You need to be ahead of the curve." Read more: Terraform Labs, Why South Korea has asked Interpol to find Do Kwon Bitcoin ( BTC-USD ) mimicked falling US equities and dropped over 6% in the past week to $18,932, as of the time of writing. Story continues Check: Crypto live prices Ethereum ( ETH-USD ) fell further after the merge to a proof of stake consensus mechanism of allegations the network was becoming more centralised. As of the time of writing ether ( ETH-USD ) was down over 15% in the week to $1,329. In a survey conducted by CNBC in September, the average respondent believed the Fed will hike the interest rate by 75 basis points. Rates are forecast to peak at 4.26% in March 2023. The Federal Reserve seems to have doubled down on its commitment to raise rates and reduce the supply of money after consumer prices in August climbed to a hotter-than-expected 8.3%. Less money, and the increase in the expense of borrowing, is a major factor in the reduction of retail investor spending that drove bitcoin to an all-time high in November 2021 of $68,000. Watch: Working for a DAO: 'No boardroom, no boss, no bias' | The Crypto Mile || Will Comatose Bitcoin Market Come Alive After NFP Data?: Traders love volatility, which has recently gone missing from the bitcoin (BTC) market.
The leading cryptocurrency by market value has been locked in the narrow range of $18,000 to $20,500, barring a brief spike above $22,000 around mid-September, according to CoinDesk data.
The question is whether the market will come unglued immediately after the release of the U.S. nonfarm payrolls (NFP) data – the monthlyjobs report– later on Friday. The data will reveal how much of the Federal Reserve's liquidity tightening has affected the labor market and whether the central bank can afford to slow rate hikes in the coming months. The Fed tightening has roiled risk assets, including cryptocurrencies this year.
Past data suggests the payrolls figure affects the bitcoin market with a lag. In other words, the cryptocurrency could very well end the day within the recent range, only to see volatility pick up over the coming week.
The featured image shows that bitcoin has seen less than 5% percent price moves in nine out of the past 12 NFP days. The annualized returns on the past 12 NFP days have been 91%. That's within the 365-day implied volatility 12-month range of 70% to 95%, according to data sourced from Laevitas.
The annualized returns are arrived at by calculating the standard deviation of BTC's performance on the past 12 NFP days and then multiplying the same by the square root of 365. The implied volatility refers to investors' expectations for price turbulence.
"Bitcoin has returned exactly 0.0%, on average, on NFP days in 2022. So, traders might conclude that NFP days are non-events," Markus Thielen, head of research and strategy at crypto services provider Matrixport, said. "However, traders should be careful as the picture changes one week later."
The chart shows bitcoin has declined in the week after the NFP seven out of nine times this year, producing an average return of -2.2%. That's in stark contrast to 2021, when bitcoin chalked up an average return of 2.3% in the week after NFP.
"Based on history, today – when the employment data is released – matters less than how prices tend to react one week later. … Crypto traders should watch out …," Thielen noted.
History could repeat itself, with bitcoin seeing increased downside volatility in the next seven days if the September payrolls figure blows past expectations. That would force markets to price out hopes of the so-called Fed pivot in favor of slower liquidity withdrawal.
The tighter the labor market, the stickier the inflation and the less room the Fed has to slow tightening. Expectations are for 250,000 job additions following the 315,000 increase in August.
Analysts at ING expect markets to drift away from the Fed pivot speculation following the payrolls data.
"Investors will look for any hint that the jobs market is starting to turn. We think it's too early for that, and our economists are in line with consensus in expecting the unemployment rate to stay at 3.7% with payrolls slowing but staying above 200k (consensus 250k)," ING's FX strategist Francesco Pesole said in a note to clients.
"DXY [the dollar index] could find its way back into the 113.00-114.00 region," Pesole added. The greenback is one of the biggest nemeses of bitcoin. || Millions Recovered in Stolen Crypto for Clients by DPS Cyber Security Crypto Recovery Firm: LONDON - ( NewMediaWire ) - October 3, 2022 - ( King NewsWire ) - The company specializes in assisting clients to recover and track their lost bitcoins. Assisting clients in recovering stolen crypto for several years, DPS Cyber Security has become one of the leading and renowned crypto recovering companies. In lieu of a scam, the company tracks down and recovers digital currencies that have been lost by investors, traders, and corporations. Throughout the years, the company has helped numerous clients track their lost cryptocurrency transactions, ensuring that they are not left out in the cold. Regardless of whether it is Bitcoin, Ethereum, or another cryptocurrency, the company has established solid credibility and a reputation for the recovery of every bitcoin. With its newly launched recovery services, the company ensures complete recovery of cryptocurrency transactions with multiple cutting-edge features. Moreover, besides providing efficient cryptocurrency services, the company has gained a strong clientele for offering reliable, safe, and secure services with a 97% industry-leading recovery rate. An experienced firm with vetted industry blockchain security specialists, DPS Cyber Security has a team of high-end professional investigators with a comprehension of cybersecurity fundamentals and extensive experience in their field and a solid grasp on how to recover stolen cryptocurrency. With a global network of investigators by its side, the company's recovery services for cryptocurrencies are expanding internationally. In order to ensure the client's satisfaction, DPS Cyber Security generates direct contact with the case manager in order to guide them through the process. The team strives for quick, actionable responses while providing immediate solutions to clients in order to save them time and money, helping them to recover money back from romance scam. In light of the uncertainty of resolving the matter, several people find it challenging to find a reliable and secure platform to file a complaint. In the recent incident, a client of DPS Cyber Security recently transferred his savings to a crypto trading account, and a portion of his profits were attempted to be withdrawn. Having lost touch with customer service, he had no way to contact the scammers since his account had been frozen. Fortunately, he found DPS Cyber Security, a bitcoin recovery company, which helped him track down and recover from the problem. Through its experience and expertise, the company was able to locate and recover 2.4 million bitcoins for the client. Story continues Aside from providing digital forensics and cybersecurity services, DPS Cyber Security also investigates digital asset crimes, along with providing forex trading scam recovery help. In the event that funds have been lost or stolen as a result of fraudulent high-level digital currency scams, the company makes use of all the necessary technical processes in order to retrieve them. In addition to helping people recover stolen crypto, the recovery company also guides them through the process. A variety of factors have restricted victims and law enforcement from fully utilizing blockchain capabilities, including its early stage, cross-border nature, scale, and new technological complexity. Through its operational processes, experience, and digital location capabilities, DPS Cyber Security is able to recover stolen bitcoins or other digital assets by understanding blockchain technology. The DPS Cyber Security team has decades of experience in blockchain cybersecurity, providing high-level cryptocurrency recovery services for individuals and corporations alike. As long as the lost cryptocurrency is valid and registered on the blockchain, DPS Cyber Security can track and recover all assets. DPS Cyber Security uses different methods for recovering stolen crypto for each client. While recovering stolen cryptocurrency, the company ensures that the confidentiality of the client's details is maintained. For further information and details to avail of the services, click on the website https://dps-cybersecurity.com/ . Media Contact Name: Mark Goodman Company Name: DPS Cyber Security Email: admin@dps-cybersecurity.com Website: https://dps-cybersecurity.com/ Address: 2nd Floor, Berkeley Square House, Berkeley Square, London W1J 6BD, UK City: London State: England Country: United Kingdom || U.S. dollar sails higher as markets price in hefty Fed rate hike: (In 6th paragraph, corrects to show the dollar is on track in 2022 to post its largest yearly percentage gain in 38 years, not 18)
By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) -The dollar rose against major currencies on Monday, trading within narrow ranges, ahead of a slew of central bank meetings this week led by the Federal Reserve, which is likely to raise interest rates by another 75 basis points (bps).
Volume was light overall, with markets in London and Tokyo closed for public holidays.
World stock markets remained on edge, however, and the dollar maintained its firm tone, given expectations that the Fed would maintain its aggressive tightening path until next year to contain stubbornly high inflation.
Fed funds futures have priced in an 81% chance of a 75 bps rate hike this week and a 19% probability of a 100-increase at the conclusion of the U.S. central bank's two-day policy meeting, according to Refinitiv data
The dollar index, which measures the currency against six counterparts, was up 0.1% at 109.62, not far from 20-year high of 110.79 hit on Sept. 7.
Since the beginning of the year, the dollar index has surged 14.7%, on track for its best yearly percentage gain in 38 years.
"Generally, the trend is your friend until the bend in the end. The dollar is going to follow that pretty well," said Amo Sahota, executive director, at FX consulting firm Klarity FX in San Francisco.
"Will there be more dollar strength before the FOMC (Federal Open Market Committee)? I think the market is going to pull a little bit here. It will go into a holding pattern and some consolidation," he added.
This week is also smattered with holidays that could thin liquidity and result in sharper price moves, with Japan and Britain off on Monday, Australia on Thursday, and Japan again on Friday, among others.
In other currencies, the euro was little changed against the dollar at $1.0021, sterling slipped 0.1% to $1.1424 and within sight of Friday's 37-year low of $1.13510, while the New Zealand fell 0.6% to US$0.5958.
Earlier in the session, the New Zealand unit fell to its lowest since May 2020 of US$0.5933
The Canadian dollar fell to its lowest in almost two years to C$1.3354 per U.S. dollar. The U.S. dollar last changed hands at $1.3258, flat on the day.
Against the yen, the dollar rose 0.2% to $143.18, hovering beneath a strong resistance level at 145 that has been reinforced by Japanese policymakers' toughened talk of currency intervention.
The Bank of Japan is widely expected to stick with massive stimulus at its meeting on Wednesday and Thursday, keeping its ultra-loose policy in place. But a turning point in Japanese monetary policy may come sooner than has been thought, with the central bank recently dropping the word "temporary" for its description of elevated inflation.
China's yuan ended at a fresh 26-month low on Monday and traded below the psychologically critical 7-per-dollar level. In offshore trade, the yuan was 0.35 weaker.
Bitcoin, the biggest cryptocurrency by market value, fell to a three-month low below $19,000, as unease over rising interest rates globally knocked risk assets. It was last down 0.2% at $19,381.
Ether, the cryptocurrency used in the Ethereum blockchain, rallied from a two-month low against the dollar and was last 1.4% higher at $1,358.60.
Ethereum went through a major software upgrade last week that alters the way ether tokens are created, drastically reducing its energy usage.
========================================================
Currency bid prices at 3:19PM (1919 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index 109.6000 109.5500 +0.06% 14.569% +110.1800 +109.4800
Euro/Dollar $1.0022 $1.0015 +0.07% -11.84% +$1.0029 +$0.9966
Dollar/Yen 143.2100 142.9400 +0.19% +24.40% +143.6400 +142.6500
Euro/Yen 143.51 143.13 +0.27% +10.12% +143.5500 +142.8100
Dollar/Swiss 0.9645 0.9644 +0.17% +5.90% +0.9695 +0.9630
Sterling/Dollar $1.1431 $1.1422 +0.08% -15.48% +$1.1441 +$1.1356
Dollar/Canadian 1.3255 1.3262 -0.06% +4.83% +1.3344 +1.3252
Aussie/Dollar $0.6722 $0.6722 +0.03% -7.50% +$0.6734 +$0.6673
Euro/Swiss 0.9665 0.9660 +0.05% -6.79% +0.9671 +0.9634
Euro/Sterling 0.8764 0.8768 -0.05% +4.33% +0.8787 +0.8748
NZ $0.5958 $0.5989 -0.48% -12.92% +$0.6002 +$0.5929
Dollar/Dollar
Dollar/Norway 10.2225 10.2040 +0.20% +16.06% +10.3320 +10.1900
Euro/Norway 10.2472 10.2059 +0.40% +2.35% +10.3125 +10.2062
Dollar/Sweden 10.7823 10.7337 +0.48% +19.57% +10.8348 +10.7251
Euro/Sweden 10.8073 10.7560 +0.48% +5.60% +10.8244 +10.7571
(Reporting by Gertrude Chavez-Dreyfuss in New York; Additional reporting by Dhara Ranasinghe in London and Kevin Buckland in Tokyo; Editing by Bradley Perrett, Frank Jack Daniel, Paul Simao and Marguerita Choy) || Superlative Ecosystem Genesis Finance has become the Talk of the Town: Genesis Finance Liege, Belgium, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Every industry comprises different types of individuals performing different types of roles. Each industry also needs to be improvised in some way or the other. These improvements can be best explained and told by the people that play a part in the community. The crypto world consists of ever-growing ecosystems and includes professional analysts, cryptocurrency traders, and developers. These individuals can best explain what needs to be ameliorated in ecosystems to make them more sustainable, user-oriented, and alluring. Devised by a group of such individuals, Genesis Finance aspires to make crypto space alluring for its users by offering great utilities and a secure decentralized exchange platform. An Overview Of Genesis Finance Ecosystem An accomplished team of professional analytics, cryptocurrency traders, and developers are the originators of this innovative ecosystem. They are tirelessly working towards creating an ecosystem that is sustainable and includes all of their wishes. Genesis Finance aims to lay the foundations of an ecosystem that is self-sustainable and user-oriented. Numerous benefits associated with becoming a part of this ecosystem include top-notch security, a wide array of services, handy utilities, and a chance for earning great passive income through crypto holdings. Genesis Finance will inaugurate with badges of Secure Asset Fund for Users (SAFU), Know Your Customer (KYC), and Audit badge. These badges not only help in gaining client trust but are also the most promising aspect of the entire ecosystem. Genesis Finance offers numerous alluring features like Staking, Swap and Wallet, Decentralized Exchange, NFT marketplace, and a Launchpad. $GEFI token is the official currency of this pre-eminent ecosystem. Wallet GEFIwallet is a non-custodial web3 wallet that will connect billions of users around the world safely. GEFIwallet offers multi-chain (cryptocurrency), DEX, Payment solutions, and others. GEFIwallet is a key component of future multichain protocols/applications, acting as a single point of access to various DeFi services across multiple blockchains. By having variations on the wallet, we have established a solid platform for expanding our product suite. Buy crypto with a bank card (Visa and Mastercard payment systems are accepted), Receive, Swap, Send and Store crypto using GEFIwallet, that will be also available on IOS and Android soon. What makes GEFIiwallet stand out? Hight security Your private keys can't leave your device. Using strong wallet encryption and cryptography, you can rest assured that your assets are safe and secure. Story continues Enhanced privacy/anonymity No KYC bureaucracy to access your assets, no IP association, no identity, no transactions tracking. Payment Solutions GEFIwallet offers scalable payment solutions built for immediate transactions, fees that are fractions of a penny, and a net-zero environmental impact like Solana pay, Rollups, Bitcoin Lightning Network, and more. Buy assets with your card. Purchase Assets directly from Gefiwallet through the use of our partners. More options are coming soon! Multi-chain Full support for Bitcoin and other major altcoins and tokens. Coin selection and addition are done with the utmost care. Our Mission Gefiwallet is working to lead the blockchain payment technology by transforming how businesses and people send, receive, and store money around the world. Staking Its always good to have multiple sources of income. Apart from active income sources, one should consider investing in stuff that yields passive income. Individuals should consider locking their $GEFI for staking and can collect an Annual Percentage Yield (APY) of 200%. Clients have to stake their tokens for specific periods. NFT Marketplace The NFT marketplace was designed to allow trading and holding of infinite digital content. The platform permits users to create their own NFTs from music, art, and images. The developers aspire to create a marketplace that allows every single feature to be practiced. A distinctive feature of Genesis Finance is that it offers discounts frequently to its users and transactions that are free of cost. The firm pays attention to even the most minute details of the marketplace and strives to make trading NFTs fun for its users. Explore, create, mint, buy and sell NFTs with Genesis Finance. Decentralized Exchange and Launchpad Genesis Finance considers client data security and satisfaction as its topmost priority. To achieve this end it greatly encrypts all the data on its platform which makes hacking it almost impossible. Scams are very common in the crypto world. Therefore Genesis Finance audits every single new project that makes an entry into its platform. Genesis Finances Vision The firm has a far-sighted vision that aspires to provide investors with a smooth and memorable experience. It amalgamates together the wishes of investors, developers, and traders and incorporates them into its ecosystem. Not only this but Genesis Finance also offers innumerable utilities for the better development and progress of its token. Genesis Finance is bound to steal the spotlight with the countless alluring incentives that it has to offer. For additional information, potential investors can visit the official website or read the whitepaper to know more about Genesis Finance. Website | Telegram | Twitter | Discord | Medium | Reddit | GitHub | Instagram https://genesis-finance.net/ Disclaimer: The information provided in this release is not investment advice, financial advice or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor before investing or trading securities and cryptocurrency. CONTACT: Micheal Bern Genesis Finance GEFI (at) genesis-finance.net View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 19567.01, 19345.57, 20095.86, 20770.44, 20285.84, 20595.35, 20818.48, 20635.60, 20495.77, 20485.27
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-02-04]
BTC Price: 3459.15, BTC RSI: 39.36
Gold Price: 1314.30, Gold RSI: 68.94
Oil Price: 54.56, Oil RSI: 58.64
[Random Sample of News (last 60 days)]
Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 09/12/18: Bitcoin Cash ABC fell by 4.29% on Saturday, following on from a 1.49% decline on Friday, to end the day at $99.27.
A bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $108.89 before hitting reverse, the day’s high coming up short of the first major resistance level at $115.06.
The reversal saw Bitcoin Cash ABC slide to an early afternoon intraday low $94.9, coming within range of the first major support level at $94.3, before steadying to a relatively range bound 2ndhalf of the day.
At the time of writing, Bitcoin Cash ABC was down 0.03% to $98.70, moves through the early morning seeing Bitcoin Cash ABC ease back from a start of a day morning high $99.24 to a morning low $97.71 before steadying, the day’s major support and resistance levels untested.
For the day ahead, a move back through the morning high $99.24 to $100 levels would signal a possible late weekend rally to reverse some of the week’s losses, though for Bitcoin Cash ABC to take a run at the first major resistance level at $107.14, a move through to $101 levels by the early afternoon would be needed.
Failure to move back through the morning high to $100 levels could see Bitcoin Cash ABC pullback through the morning low $97.71 to $95 levels, bringing the day’s first major support level at $93.15 into play, with the second major support level at $87.03 in play in the event of another crypto sell-off later in the day.
Litecoin fell by 2.34% on Saturday, following a 5.39% slide on Friday, to end the day at $24.19.
Tracking the broader market, Litecoin moved through to an early morning intraday high $26.7, coming up against the first major resistance level at $26.66 before hitting reverse.
The morning sell-off saw Litecoin fall to a late in the day intraday low $22.95, coming within range of the first major support level at $22.56 before moving back through to $24 levels. It was quite a reversal from the 7.8% gain through the early hours and reflective of the volatility being seen across the broader market as the year comes to an end.
At the time of writing, Litecoin was up 0.45% to $24.3, a range bound start to the day seeing Litecoin move from a morning low $24.06 to a morning high $24.53 before easing back.
For the day ahead, a move back through the morning high $24.53 to $24.6 would support a run at $25 levels to bring the day’s first major resistance level at $26.28 and Saturday’s intraday high $26.7 into play before any pullback.
Failure to move through the morning high to $24.6 by the early afternoon could see Litecoin hit reverse, with a fall through the morning low $24.06 to $23 levels bringing the first major support level at $22.53 into play before any recovery.
Ripple’s XRP gained 1.65% on Saturday, following on from Friday’s 1.6% gain, to end the day at $0.31073.
A bullish start to the day saw Ripple’s XRP rise to an early morning high $0.32845, breaking through the first major resistance level at $0.3195 before hitting reverse.
Tracking the broader market, Ripple’s XRP fell to a late in the day intraday low $0.29408, holding above the first major support level at $0.2922 before a late in the day spike.
The spike saw Ripple’s XRP break through the first major resistance level at $0.3195 and second major resistance level at $0.3332 to an intraday high $0.34078 before sliding back.
At the time of writing, Ripple’s XRP was up 0.77% to $0.31312. Through the early part of the morning, Ripple’s XRP moved from a start of a day morning low $0.30981 to a morning high $0.31446, leaving the day’s major support and resistance levels left untested.
For the day ahead, a move through the morning high $0.31446 to $0.3150 levels would support a run at $0.32 levels to bring the day’s first major resistance level at $0.3363 into play before any pullback, strong market support needed to bring Saturday’s $0.34078 intraday high into play.
Failure to move through the morning high to $0.3150 levels could see Ripple’s XRP pullback through the morning low $0.30981 to bring sub-$0.30 levels and the day’s first major support level at $0.2896 into play before any recover, heavier losses and sub-$0.28 levels not expected on the day.
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Thisarticlewas originally posted on FX Empire
• Dollar Pressured by Weak Economic Data, Concerns Fed Will Soften Monetary Policy
• Bitcoin – Bulls Need Another Win to Calm the Nerves
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 09/12/18
• Natural Gas Price Fundamental Weekly Forecast – Lingering Cold from Week-end Supportive Early then Warm Weather Returns
• S&P 500 Weekly Price Forecast – markets plummet for the week
• USD/JPY Weekly Price Forecast – US dollar falls for the week || Bitcoin’s Warrior Queen: Lightning’s Elizabeth Stark Is Building an Army: âââââââââââââââââââââââââââââââââ
A former academic, Elizabeth Stark likes to play devil’s advocate. Take, for instance, her appearance at the Crypto Springs conference in October 2018.
Bitcoin Exchange Paxful Sees 20% 2018 Growth, Driven by Africa
It’s a sunny morning in Palm Springs, California, and most attendees are lounging by the pool; onstage, however, Stark is busy describing some of the darker potential scenarios for the cryptocurrency industry, ones in which it could fall short of its potential.
But if the words of warning aren’t drawing a response, it’s perhaps because the price of bitcoin is still north of $6,000, and some are optimistic that the so-called “crypto winter” will soon be over, evaporated by an end-of-year upswell in institutional money entering the industry.
It’s not a sentiment shared by Stark, though, who warns attendees that legacy financial players could take stronger measures to impede the sector’s growth. “When you change how money is created and valued, there is going to be major pushback,” Stark says.
Later, Stark draws applause when she castigates the previous year’s explosion of initial coin offerings (ICOs), and the sometimes shady startups that used them as a means of securing fundraising from a market that was suddenly full of unsophisticated buyers.
Bitcoin’s Next Halving Rally: Coming Soon in 2019
“Iâm all for experimentation, but Iâm not for experimentation if it means that retail investors are going to get sluiced,” she says. “Ninety-five percent of the coins that we have right now will probably fail.”
The stance has come to dominate more and more of Stark’s talks of late, that innovation can and must be balanced with steps that avoid consumer harm, and it’s one that’s taking on increasing relevance as the crypto market cools and the industry attempts to take stock of why billions in consumer money came in 2017, only to quickly retreat.
âIf you really believe in decentralization then why are you creating all these centralized services?” she continues.
Referring to the way crypto exchanges and certain wallet providers control the private keys to their customers’ wallets, thus undermining the value proposition of personal financial sovereignty, she adds: “We need to get to a world where people can hold their own keysâ¦have this autonomy.â
Yet, as frank and sobering as her talk might have been, Stark has the clout to not only call for change in the industry, but deliver it. After years of quiet building at her startup, Lightning Labs, 2018 has been a breakout year for both Stark and her company.
In fact, Stark’s accomplishments this past year dwarfed those of most other entrepreneurs, as her decision to roll up her sleeves in 2015 and take the helm of an open-source project many saw as the best chance to massively scale bitcoin (but that perhaps had little business value) began to bear serious fruit.
If it werenât for Elizabeth Stark, bitcoinâslightning networkmight still be just an idea.
Instead, itâs become a functioning, if niche, payments system; a hotbed of software development; and a beacon of hope for those who believe in bitcoinâs potential as an everyday currency. All in the space of a year.
A law school graduate, Stark doesnât code much. But there are many who credit the Lighting Labs CEO for much of the remarkable progress lightning has made.
“She helped get everyone to actually make stuff,” said Tadge Dryja, who co-wrote the 2016 lightning white paper with Joseph Poon. “Her thing is not only identifying a super-cool project, but then saying, ‘We should actually build this.'”
As such, Stark is often described as a kind of warrior queen, who now commands an army of elite developers.
Elizabeth Stark onstage at Consensus 2018.
“Her general conviction and ability to organize and arm the troops and to aim the cannon, then allow these really talented people to shoot, is really rare in this space,” said Jack Mallers, who developed the Zap bitcoin wallet using the lightning network’s open-source code.
It was Stark, after all, who recruited Olaoluwa Osuntokun, a Nigerian-American prodigy, to work full-time in the cryptocurrency industry. The former Google engineering intern known as “Lalou,” now Lightning Labsâ CTO and co-founder, has become one of bitcoinâs most prolific developers, taking over the work Dryja and Poon started on the layered scaling solution. (Both have since departed, citing differences with Stark).
More broadly, Stark is also widely credited for turning her friend Jack Dorsey, the CEO of Twitter and co-founder of Square, into a bitcoin believer. Since Dorsey fell into Starkâs orbit, the Square payments app has become one of the most popular ways for U.S. retail investors to acquire bitcoin. He alsoinvested personallyin Lightning Labs, the company Stark co-founded that develops the open-source Lightning Network Daemon (LND) protocol.
But perhaps the clearest proof of her influence can be seen in the blossoming of lightning itself during a brutal year for cryptocurrency prices and a period of overall retrenchment for blockchain companies.
The number of nodes on the nascent network swelled from a few dozen in early January to more than 1,900 in mid-December, according toBitcoinVisuals.com. (1ml.com gives an even higher estimate, including some that arenât currently active, with more than 4,500 lightning nodes.)
Lightning now has the capacity to process about $2 million worth of crypto transactions, based on the balances held in its more than 13,000 payment channels. While that may seem small, itâs an auspicious start considering the beta version of LND was only released in mid-March. Underscoring the health of the young ecosystem, there are multiple implementations of the software, of which LND is only one.
“Lightning is a movement,” Stark told CoinDesk recently, recalling a conversation with a bitcoin fan who first coined this phrase. “We’ve spent the past year building this movement and it’s working.”
It’s been a long time since Stark, a giggly vegan who hardly fits the bitcoin stereotype of a socially awkward introvert, started her journey to become an unlikely heroine in bitcoinâs origin story.
“As a teenager, [I] was an internet geek who liked electronic music,” Stark told CoinDesk. “So basically I’m the same person today.”
Growing up in the New York suburbs, she said, she knew her calling was to build new technology. “As a teenager, I interned at startups in New York City,” she said. “Law school was actually an interesting means to study and research the internet.”
Stark was busy honing debate skills and graduating from Harvard Law School in 2008, the year Satoshi Nakamoto published the bitcoin white paper. After law school Stark went into academia, teaching human rights and computer science courses at universities like Yale, Stanford and Harvard.
It was at Stanford, in 2010, where she first heard about bitcoin from a teaching assistant.
A coffee machine is retro-fitted to accept bitcoin lightning payments.
By the time she met with Dryja in 2015, developers had started to theorize what would later become the lightning network, which was then little more than a concept on slide decks and whiteboards. Yet, Stark was ready to lead a startup.
“From the beginning she was clear, she wanted to be the CEO,” Dryja recalled. “Sheâd seen a lot of ideas that never got anywhere, not because the idea was bad but because thereâs a big difference between an idea…and getting it so that millions of people can use it.”
Dryja, who co-founded Lightning Labs with Stark then left the company in 2016, credited his former colleague for prioritizing quality over quantity. Despite being a rookie businesswoman, she lined up prominent investors like Charlie Lee, the creator of litecoin, former PayPal COO David Sacks, and Dorsey. But Stark raised a modest $2.5 million from these investors and avoided the lucrative token sales that were then becoming fashionable.
“Even in 2016, you could have raised a ton of money and gotten a fancy office, but she didnât want to,” Dryja said.
Stark said she’s driven by a desire to create “significant technology that will have effects on the 10-year horizon and beyond.” In her mind, lightning is a key part of ensuring bitcoin’s longevity.
“This is a marathon, not a sprint,” she said.
Perhaps thanks to her legal background, Stark has the uncanny ability to disagree without being combative and guide decisions without barking orders.
Her presence is unassuming, yet irresistible. The raven-haired CEO is often spotted beside Bitcoin Core developer Matt Corallo at meetups with her omnipresent smile and cypherpunk black wardrobe.
“Sheâs very socially equipped in terms of networking, something that I don’t do well and don’t enjoy,” Mallers said. “Writing the code isnât the hard part. Itâs aligning the direction, limiting the scope, organizing.”
Yes, you can really hold these in an ethereum address.
No matter where you go in the tech industry, someone in the room probably considers Stark a friend and wants to hear what the level-headed extrovert has to say. This nonchalant charm makes her an anomaly in a field teeming with bombastic personalities.
Although there may be some professional rivalry with bitcoin-focused startups like Blockstream, Dryja said Starkâs approach is to listen to everyone and observe how users interact with a protocol instead of “trying to dictate what people do with it.”
Another sign of her personality: no matter how busy she gets, Stark is generally responsive to chats in the LND Slack group, where developers and fans around the world collaborate, and which now has more than 2,870 members.
“I think it speaks to who she is as a person that she is fostering this community. And it speaks to her savvy as a business owner,” Mallers said.
Referring to Lightning Labs, he added, “all their software is open source and they are very grounded, sticking to their original vision.”
Another way that Stark distinguishes herself is by deliberately creating opportunities for minorities to contribute to an industry predominantly led by white men.
Stark co-organized the Crypto Springs conference in October, where more than half of the speakers were women, and scholarships for women to attend Bitcoin Core contributor Jimmy Song’s programming bootcamp.
Mir Liponi, an Italian vlogger and co-founder of Blockchainlab, said meeting Stark at a Consensus conference in 2015 inspired her decision to take a more active role in Italyâs bitcoin community.
A statue in New York with a #RECKLESS hat advertising the lightning network.
“The fact that she was so young and respected as a CEO and as a woman was something almost new to me,” Liponi told CoinDesk. “One of the greatest contributions Elizabeth [made to] bitcoin is her constant work and ability to connect experts, projects, people.”
It was Stark who helped Liponi arrange bitcoin hackathons in Milan, with people working on a variety of distinct solutions related to lightning. In part, these meetings helped up-and-coming technologist Ayo Akinyele create the Bolt protocol, which offers improved privacy for lightning-enabled bitcoin transactions.
“If you want to design this for people to actually, use, we can’t just design it for ourselves,” Dryja said, adding Stark is one of the leading figures getting “all different kinds of people” involved with building up the bitcoin ecosystem.
Like many young developers in the space, Mallers credits Stark with mentoring him as he went from obscure hobbyist to internet-celebrity entrepreneur.
Speaking broadly to how her mentorship encourages programmers across the ecosystem to connect and ship complementary code, he added: “I give that credit to Elizabeth.”
Stepping back, to fully grasp Stark’s work to bitcoin, it’s important to remember that the lightning technology was conceived, and Lightning Labs founded, in the midst of a long-running and contentious debate within the bitcoin community over how best to scale the network.
Over the years, as bitcoin’s network volume increased, rising transaction fees and slowing confirmation times had cast doubt on the currency’s suitability for use cases that were touted early on, such as micropayments for web content or prosaic retail purchases (the proverbial cup of coffee).
While few in the community questioned the so-called digital gold’s ability to serve as a store of value, its utility as a means of exchange was now at issue.
One camp, led by CEOs of venture capital-funded startups, wanted to quickly boost the network’s capacity by increasing the size of transaction blocks that are added to the ledger every 10 minutes or so.
The other camp, represented by developers and hard-core users like Stark, resisted such proposals, arguing, among other things, that a hastily implemented change to the software would present a security risk.
Elizabeth Stark, Lightning Labs, at Consensus 2016
(Stark was often outspoken during these debates about how important she believes it is to prioritize security as one of bitcoinâs core principles.)
Lightning, as conceived by Dryja and Poon, offered an alternative. Small payments would be handled off the blockchain, through a mechanism called payment channels. Users could send bitcoin back and forth to each other through these channels, and the blockchain would be reserved for final settlement.
Still, the scaling debate raged on. After a game of chicken, in which the big-block camp tried to push through a software update that might have split the network into two competing currencies, the controversial plan was called off at the eleventh hour in November 2017.
The slow-and-steady camp had prevailed, and the stage was set for layer-two solutions like lighting to flourish. Four months later, in March 2018, Lightning Labs released the beta version of LND.
Today, Stark said there are now hundreds of developers making Lightning apps and contributing to the network’s open source infrastructure. Meanwhile, the number of channels has increased 16-fold over the past year.
Regardless of the so-called crypto winter, Stark’s 11-person company shows no signs of slowing down.
“If anything, the calming of the hype and frenzy helps us because there are fewer distractions and it’s a better time to keep on building,” Stark said. “There’s a lot left to do, but this year has very much exceeded my expectations with the speed of growth and adoption.”
This further distinguishes Stark from many other CEOs of her ilk: She is patient. Speaking to what sets Lightning Labs and its vivacious leader apart from other crypto startups, Mallers concluded:
“Itâs very comforting, owning bitcoin and being an investor in the asset knowing that people like her, who stay focused, grounded and mature as a business owner, are trying to accomplish something like scaling.”
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• The True Crypto Alternative to Government Money
• Bitcoin Price Suddenly Spikes $300 to Avoid Retest of 2018 Low || Elon Musk’s Bad Week Gets Worse as SpaceX Lays off 600 People: SpaceX, the rocket company founded by Tesla billionaireElon Musk, is laying off 10 percent of its 6,000-employee workforce. The layoffs are part of a move to streamline the business and cut costs.
“SpaceX must become a leaner company,” President Gwynne Shotwell wrote in a Friday email. The news was first reported by theLos Angeles Times.
Shotwell explained:
This means we must part ways with some talented and hardworking members of our team. This action is taken only due to the extraordinarily difficult challenges ahead and would not otherwise be necessary.
The company is providing a minimum of eight weeks’ pay and other benefits to the fired workers.
Elon Musk — the billionaire founder of electric-car companyTesla— launched SpaceX in 2002 to make space travel accessible to everyday people. In addition, SpaceX’s goal is to colonize Mars.
Equidate’s Robert Hilmer says SpaceX is one of the most valuable private companies in the world, with the potential to raise an “unlimited amount” of capital.
“SpaceX is one of [the most] popular pre-IPO tech companies globally,” Hilmer toldCNBC.
Everywhere I travel around the world, investors of all types — individuals, family offices, hedge funds, sovereign wealth funds or private equity — want to get into SpaceX.
Meanwhile, Musk is taking the downsizing in stride.
He has not commented on the layoffs, preferring instead to focus on upcoming space launches.
The South African business mogul is more concerned that SpaceX’s newest test flight rocket has a cool, aerodynamic design.
“Obv must be more pointy tho,” Musk tweeted, in reference to the tip of the rocket.
Musk is an unwitting media darling who generates countless headlines. In August 2018, Musk stirred a volcanic backlash from Tesla investors after tweeting that he might take his car company private.
Weeks later, the SEC sued Musk for securities fraud, claiming his errant tweet caused Tesla stock to spike 6 percent that day. Shareholders were enraged when Tesla shares abruptly tanked in the following days.
The debacle forced Musk to step down as chairman in September 2018 andpay a $20 million fineto the SEC.
Despite being a technophile, Elon Muskdoes not own crypto, as CCN reported.
“I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago,” Musk confessed on Twitter.
In November 2017, Musk denied speculation that he was Satoshi Nakamoto, the inventor of Bitcoin. A former SpaceX intern inadvertently started the rumor with a blog post.
Sahil Gupta wrote atMedium: “Satoshi is probably Elon.”
Elon is a self-taught polymath. He’s repeatedly innovated across fields by reading books on a subject and applying the knowledge.
Musk responded by denying that he invented Bitcoin. Meanwhile, thereal identityof Satoshi Nakamoto has never been confirmed.
Featured Image from Shutterstock
The postElon Musk’s Bad Week Gets Worse as SpaceX Lays off 600 Peopleappeared first onCCN. || Its Not Surprising the Market Is Recovering Says Coinbase President Asiff Hirji: bitcoin price bull Not the Christmas run we expected, but bitcoin has continued to rise, despite a bearish run that saw prices crash from $5,000 to an all-time low of $3,200. Asiff Hirji President of U.S. crypto exchange Coinbase said the current recovery is not surprising and the run should continue into the next year. Speaking with CNBCs Fast Money , Hirji was of the opinion that the market could go beyond its fundamentals, saying, sometimes things are never as good as they seem and never as bad as they seem. Bitcoin soaring this week as the markets selloff. Here's what @coinbase president @asiffhirji had to say about the move pic.twitter.com/dCrXkhq5bz CNBC's Fast Money (@CNBCFastMoney) December 20, 2018 Hirji believes the market has witnessed more innovation in the last year which has exceeded everything from the past years. For the Coinbase honcho, cryptos are getting more visible and use cases are getting stronger. Weve never had as much innovation as we have today, Hirji explained. For many blockchain companies, the market crash meant massive layoffs, with the most notable being Ethereum production Studio ConsenSys axing a portion of its workforce and blockchain social network Steemit laying off 70% of its employees, citing the downturn in the market. Crypto exchanges have also been battling with dried up volumes as the market witnessed massive selloffs from scared investors. In all the chaos, Coinbase has continued to push out products updates with its 12 Days of Announcement on its blog, where it promises to announce a product update on its blog for 12 days. While new product feature like the Crypto Convert and the Coinbase Earn have featured on its updates, there has been an assortment of new coin listings , leading to speculations that Coinbase is trying to increase trading volumes by listing more cryptos for trade. Story continues Hirji said this wasnt the case. He went on to explain that there are thousands of cryptos out there and the exchange would over the course of time, add as many cryptocurrencies that matter in as many geographies that we are allowed. This is the start of the next great wave of technology, and you should expect to see more and more cryptocurrencies over time. Speaking on the growth of Coinbases institutional products, Hirji said institutions need a regulated and compliant venue to invest in cryptocurrencies, and there has been an uptick of the onboarding of institutions into Coinbases custody products. Institutions need a valid venue to trade on, a qualified custodian to store with and they want to make sure there is actually liquidity. We have built a lot of liquidity, and we have the best most regulated, most qualified custodian in the space. We think we have built a lot of infrastructures to allow institutions to invest in crypto products. The post Its Not Surprising the Market Is Recovering Says Coinbase President Asiff Hirji appeared first on CCN . || Blockchain-Powered Prediction Platforms: Governance and Uses Beyond Gimmick Markets & Death Pools: The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com Like many other ICO success stories and subsequent leaders in their respective market segments, Augur , the preeminent platform for decentralized predictions, faces constant public scrutiny. The latest episode that drew public attention is the allegation , voiced by cryptocurrency hedge fund Tetras Capital partner Alex Sunnarborg, that a developer group behind the platform significantly overstates the volume of trades that Augur processes. While the real trade volume is an essential metric indispensable for understanding the scale and impact of a given project, it is still a quantitative, rather than qualitative measure. In this regard, a dispute around how much money is staked on Augur at a given moment of time is different from two major previous fracases, which sparked debates about fundamental aspects of decentralized prediction platforms’ usage and governance. Those two episodes concerned the so-called “gimmick markets,” and, earlier, Augur’s capacity to host death pools. Tricky wagers When betting money on the outcome of future events, like with any other contract, the rule of thumb is to make sure that you get all the details straight. What exactly is the outcome that liquidates your futures contract at a win or loss? When exactly does it occur? In most cases, these conditions are straightforward enough to go without saying. After all, when you wager on Real Madrid beating Liverpool in the Champions League final, 90 or 120 minutes after the kickoff time, everyone knows who won. And if something goes wrong, you can always appeal to the bookmaker. This is not quite the case, it appears, when predictions go decentralized. Once everyone can set up a market, the terms of some contracts may become vague — either due to amateur bookmakers’ unintentional lack of phrasing precision or due to malice. And once the bets are in, users have no recourse if they suddenly realize that they were wagering on something different than the market is really about. Story continues The latter likely describes the situation many people involved with the recent Augur political market have found themselves in. The question looked simple: “Which party will control the House after 2018 U.S. Midterm Election?” Anticipating that Democrats will have flipped the House as a result of the midterms, 95 percent of the bettors wagered on them. Indeed, the “blue wave” that pundits predicted yielded the Democratic-majority House post-election. However, the important caveat is that the newly elected members were not to come in until January 3, 2019; as of the market closing date, Dec. 11, the House remained exactly the same as it was before the midterms — that is, Republican-controlled. The Augur community went abuzz : Those who thought they were betting on the election outcome demanded that the market be called for Democrats, while others — including the alleged creator and designated reporter for the market — insisted that the idea was to measure the state of the House on Dec. 10, which, to be fair, could hardly be different from what it was on the day the market opened. In a Reddit post, the self-avowed creator made this clear by referring to the deal as a “gimmick market” and declared his or her intention to call it for Republicans. The fact that more than $1.3 million were at stake rendered this conundrum perhaps the toughest test for Augur’s on-chain governance system so far, and definitely made for the platform’s biggest publicity crisis since the summer hype around assassination markets. Despite the fact that these two controversies look quite distinct on the face, they are manifestations of the same deficiencies intrinsic to the nature of decentralized prediction markets. Markets for death In an episode of the British techno-dystopian series Black Mirror entitled “ Hated in the Nation ,” mysterious assassins begin to eliminate public figures, one by one, decided by whomever social media users post the most #deathto hashtags about. Once the bloodthirsty online mob realizes how the death pool works, they readily rush to bid on the next odious MP’s or obnoxious rapper’s demise in order to trigger the murder that mysterious assassins immediately carried out. As Augur, a blockchain-powered — decentralized prediction market, went live in July 2018 — the media was quick to latch onto the minor yet captivating facet of its functionality: the capacity to enable the creation of so-called “assassination markets.” In the dark spirit of Black Mirror, albeit under a somewhat different mechanism, these arrangements could spell death for those in the public eye. Indeed, it did not take long after the platform’s launch for such markets to appear, with a number of prominent politicians, actors and entrepreneurs put on the spot. Augur provides a decentralized infrastructure for users to set up bets on whether certain events will or will not take place. Taking advantage of blockchain’s anonymity and the absence of a centralized authority to censor the content on the platform, malicious users could potentially procure a tool for incentivizing other people to “help” certain outcomes occur. For instance, by creating a market on whether politician X dies before the end of their incumbency and staking a huge pot of money on a “no,” someone could effectively put a bounty on the person’s head. Wagering against the massive “no” market and then contributing — to put it gently — to a “yes” outcome, any villain could run off with the money. Horrendous as it sounds, the scenario was not invented by the Augur community. The idea of a cryptographically anonymized death market has been present in the cypherpunk milieu for a while — at least since cryptographer Jim Bell had formally recorded it in his 1996 essay “ Assassination Politics .” He envisioned a market that would predict the deaths of government officials as a means to punish those who indulge in corruption. The Augur subreddit has also been rife with various takes on the death market principle long before the protocol went live. Larger problem So, is this what blockchain is for: letting scoundrels ease the remiss bettors of their money or even anonymously order people dead and get away with it? The clamor over the dubious Augur developments jibes quite well with the broader, ongoing debate that concerns platforms’ responsibility for the content their users choose to publish on them. Think Facebook and fake news/streamed deaths, or Twitter and political botnets, or Youtube and videos of dead bodies on popular suicide sites. The centralized social media gatekeepers’ mantra of “we are not publishers, we are merely infrastructure providers” is sounding ever less convincing with each high-profile blunder, forcing corporations behind those platforms to haphazardly design new policies and interventions. Critics often point out that, in the case of a decentralized, blockchain-powered marketplace for anything, there is no corporation or government to go to if the goods or ideas in question turn out to be immoral or otherwise unacceptable for the majority of users. Furthermore, immutability of distributed ledgers that carry information about transactions renders it impossible to take the content down. This takes us back to a more general problem of blockchains’ capacity to perpetuate the wrong — be it flawed land titles, unjust copyright claims or transferring a scam victim’s money to a con artist’s wallet. Does this mean that a responsible society should avoid using decentralized, permissionless systems to underpin any sensitive sphere of transactions? Not really. The classic notion of the marketplace of ideas, as John Milton and J. S. Mill construed it, rests on the assumption that, once all ideas are allowed to clash freely in an open marketplace, the best of them will eventually prevail. Even though such reasoning might not seem indisputable, one need not take this leap of faith in order to be comfortable with blockchain-powered markets. Regardless of whether the natural tendency of good ideas to defeat bad ones is really a thing, there are still other mechanisms to fall back on — namely, governance systems’ design and a broader set of social norms that govern human behavior. Prediction markets, as well as other blockchain-based idea marketplaces, may — and probably should — incorporate some on-chain mechanisms of community self-regulation. In the case of Augur, the community of REP token holders — who are also called “reporters” — are incentivized by the system’s design to document the correct outcomes of the events in question. The same people have the power to declare a certain bet “invalid,” in which case nobody gets paid after the outcome is decided. This instrument of community self-policing looks like a relevant tool for stopping morally reprehensible bets from enriching those who might want to use the platform for malicious ends. The “gimmick market” case is a great way to test the system’s capacity to handle situations that are less unambiguously unacceptable than facilitating murder. Assassination pools constitute a marginal fraction of Augur’s overall trade volume, with just a handful of transactions. In contrast, gimmick markets on high-profile, highly bettable events may well become a feature of the Augur landscape, should the community set a precedent that lets the first one be. In addition to on-chain community governance, there are things happening off-chain, too, that may serve as checks to potential abuse of prediction markets’ infrastructure. Even if we adopt the radical stance and accept that “code is law,” there is a larger ecosystem of constraints that influences human behavior. In the words of Lawrence Lessig, one of the preeminent legal thinkers of the Internet age, there are at least four discrete forces that shape people’s actions online: law, choice architecture, market and societal norms. Even if the distributed ledgers’ architecture allows people to anonymously sponsor — and subscribe for — lawless action or con markets, and given the demand for them, social norms are still there. These norms suggest that murder is highly unethical, and fooling people into betting on the event that cannot possibly occur is not the best way to make them like you — even if you say sorry afterward. Also, there is a consideration of a perhaps more forceful effect: Both murder and fraud are criminal offences punishable within the legacy legal system, which still exerts a lot of influence over us all. On Augur, bets come in Ethereum , not REP, meaning that payments are very much traceable by law enforcement. And rest assured, the authorities are watching closely. Regulatory concerns Most certainly, Augur already has regulators’ close attention, and recent developments are not going to make things better. Since markets that the platform hosts are essentially futures contracts, Augur and other decentralized prediction markets fall under the purview of the United States Commodity Futures Trading Commission ( CFTC ). Reports emerged last summer that the agency was scrutinizing Augur for allegedly facilitating illicit gambling activities , since prediction markets as a form of gambling are illegal in the U.S. Those that manage to operate do so with multiple buffers and protections. For example, PredictIt, the largest non-blockchain platform that allows American citizens to wager on political events, is operated by a New Zealand-based, university-affiliated nonprofit and has strict limitations on the amount of money that users can stake. In his October speech at a technology conference in Dubai, CFTC Commissioner Brian Quintenz raised a question of accountability on blockchain and sketched potential regulatory boundaries in the context of smart contract-powered futures products. In his remarks, Quintenz first demarcated the subset of smart contracts that potentially fall under the commission’s jurisdiction — the ones that manifest essential features of a swap, future or option — and then turned to the parties involved in their creation and operation: core blockchain developers, miners, developers of smart contract code and end users. Quintenz suggested that it would be impractical to hold the first two categories accountable if some of smart contracts that operate on top of their ledger would be found to be in violation of the CFTC rules. Going after individual users of illegal decentralized futures, while normatively defensible, would likely be what Quintenz calls an “ineffective course of action,” given the pseudonymous and global nature of public blockchains. The only category left to directly target is, therefore, those who create and define the potentially illegal smart contracts. Albeit Quintenz made sure to present his remarks as personal opinions, he is clearly not the only person on the commission who is pondering the ways to tackle these emergent challenges. Enter million-dollar gimmick markets springing on top of the largest political predictions platform available to U.S. citizens. Clearly, the whole deal looks primed for the regulator to step in and protect the investors — and if Brian Quintenz’s approach is the dominant one within the CFTC, it might be the right time for the Augur core development team to start getting concerned . Governing with prediction markets While regulators have yet to figure out how to deal with decentralized idea markets whose operations are apparently in conflict with the standing laws, it is unlikely that prediction platforms are going anywhere anytime soon. Since they essentially represent the pools of aggregate collective wisdom, such markets are often a feature of many projects aimed at creating systems of decentralized governance. Arguably, the most publicized of those is the futuristic form of government — called “futarchy” — that economist Robin Hanson proposed as a framework for enabling citizens to vote for optimal policies. The concept apparently gained traction with Ethereum’s Vitalik Buterin , who, in 2014, had dedicated a grant to support research on the topic. There are projects that seek to build a versatile governance protocol around a pool of “collective intelligence”, where users determine visibility and prominence of policy suggestions by staking tokens on predicting whether they become a success or not. This way, a prediction market becomes a device for managing collective attention, stimulating members of the community to sift through policy proposals and evaluate their relative worth. Meanwhile, blockchain-powered prediction markets are doing just fine in their primary capacity as platforms for betting on outcomes of future events. In November 2018, Augur’s trade volume in midterms-related contracts surpassed that of Predictit, the largest centralized competitor in the domain of political forecasting. Humankind has had the habit of betting on the future for thousands of years, and the idea of doing it without a middleman for the first time is incredibly appealing. The CFTC seems to be up against an enormous task of wrapping the red tape around an ever-expanding infrastructure that facilitates an activity that many people enjoy. Related Articles: Cornered by Bear Market, Bitmain Is Facing an Unclear Future Swiss Crypto Exchange ShapeShift Lays Off a Third of Its Team Wall Street’s Bill Miller: 'Bitcoin Has Potential to Be Worth a Lot or Worth Zero' Crypto Lenders Are Cashing In on the Crypto Bear Market || Crypto Prices Rebound, Denmark, Malaysia Set Eyes on Crypto Trading: Investing.com - Bitcoin and other major digital coin prices rebounded on Tuesday in Asia, following a tumble over the last few days. Regulators in Denmark and Malaysia set eyes on crypto trading, and HSBC is actively using blockchain to improve transaction efficiency, according to reports this week.
Bitcoin gained 3.57% to $3,646.2 by 09:05 PM ET (02:06 GMT). Ethereum added 9.12% to $127.58, XRP was up 4.46% to $0.33134, and Litecoin rose 6.30% to $32.024.
The crypto market cap plummeted to $118 billion from $122 billion last Friday.
Danish tax authorities received some attention on Tuesday as the tax council gave the Danish Tax Agency the greenlight to collect information on digital currency trades from three domestic exchanges, including names, addresses and personal tax numbers.
According to Bloomberg, the regulator said on its website that the move is to ensure that citizens have paid taxes. It also emphasized that crypto traders must pay tax on any profits, while losses can be claimed for the tax deduction.
“Without going too far, I think one can say that this is a big market that we need to look at more closely,” said Karin Bergen, a director at the tax agency.
In Asia, Malaysia’s Securities Commission (SC) said they would regulate initial coin offerings as securities offerings starting Tuesday, as the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 came into force.
This means digital asset offerings and crypto exchanges would require approval from the SC before starting operations. They also have to comply with the securities laws in Malaysia.
In other news, HSBC said it has settled over three million forex trades and made over 150,000 payments since February 2018 using blockchain, involving $250 billion in transaction. The bank said it is studying how the technology could help multinational clients better manage forex flows.
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Oil slides on increased U.S. output and U.S.-China trade fears || Crypto Exchange Binance Enters European Markets, Launches Binance Jersey: Major cryptocurrency exchangeBinanceis expanding toEuropeanmarkets with the launch of a new platform for fiat-to-cryptocurrency trading, according to a press release shared with Cointelegraph on Jan. 16.
According to the release, Binance is launching a new trading platform, dubbed Binance Jersey, designed for fiat-to-crypto trading of the euro (EUR) and British pound (GBP) with Bitcoin (BTC) and Ethereum (ETH) within Europe and theUnited Kingdom.
Trading on Binance Jersey — including such pairs as BTC/GBP, ETH/GBP, BTC/EUR and ETH/EUR — will become available for the exchange’s users after account verification in accordance with the Know Your Customer (KYC) process.
In the press release, Binance highlighted that an expansion into the European markets could provide “freedom from looming Brexit uncertainty where the pound and euro are also in concern.”
In August, major crypto exchange and walletCoinbasehadopenedan office in Dublin as reportedly part of acontingency planfor when theU.K.leaves theEuropean Union.
Back in June, Binance hadsigneda memorandum of understanding with an independent organization that represents Jersey’s digital industries, Digital Jersey.
The collaboration is set to deliver training as part of the organization’s digital skills program with the purpose of promoting the blockchain industry in Jersey, as well as support Binance in discussions about compliance withanti-money launderingregulations.
As part of the expansion of its token offering, Binanceopenedtrading of two pairs using Ripple (XRP) as the quote currency last month.
Prior to that, BinanceaddedCircle’s USD-pegged stablecoin USD Coin as a quote asset for several new trading pairs in its combined Stablecoin Market (USDⓈ), including native exchange token Binance Coin (BNB/USDC), Bitcoin (BTC/USDC), Ethereum (ETH/USDC), Ripple (XRP/USDC), EOS (EOS/USDC) and Stellar (XLM/USDC). In addition, Binance also added a USDC trading pair with fellow stablecoin Tether.
Yesterday, Belaruslauncheda trading platform that allows users to buy tokenized versions of shares of gold and other traditional assets, reportedly receiving 2,000 registration applications within the first two hours of its launch.
Also yesterday, the ABCC crypto exchangeannounceda partnership with altcoinTronin order to list tokens based on Tron’s TRC10 technical standard.
• Nasdaq-Powered EU Exchange Reveals Crypto Trading Pairs, Tokenized Stocks
• Security Report Gives A or A- Rating to 16% of Major Crypto Exchanges, None Get A+
• NZ Exchange Cryptopia Reports Hack With 'Significant Losses'
• Coinbase, Kraken Join Major Exchanges Supporting Ethereum Constantinople Hard Fork || Report: Fidelity Sets March Launch Date for Bitcoin Custody Service: American investment firm Fidelity, which administersover $7.2 trillionin client assets, will purportedly launch its Bitcoin (BTC) custody offering in March, Bloombergreportson Jan. 29
Citing unnamed sources familiar with the matter, Bloomberg states that this is the next step in a plan that started in October 2018, when Fidelityannouncedthe launch of a new company, Fidelity Digital Asset Services.
The new company will purportedly offer custody and trade execution services for digital assets, targeting institutional investors like “hedge funds, family offices and market intermediaries,” but willnotfor now be open to retail investors.
Fidelity reportedly said in a statement, “We are currently serving a select set of eligible clients as we continue to build our initial solutions. Over the next several months, we will thoughtfully engage with and prioritize prospective clients based on needs, jurisdiction and other factors.”
Fidelity CEO Abigail Johnson is an outspoken proponent of digital currencies, havingintroducedBitcoin and Ethereum (ETH) mining at the firm in 2017. She stated at a conference in New York “I’m a believer. I’m one of the few standing before you today from a large financial services company that has not given up on digital currencies.”
Custody services, which are commonplace in traditional stocks and bonds markets, are third party services that offer to hold an asset to reduce the likelihood of theft. Custody services differ frombanksin that they are not allowed to use the stored financial assets to their own ends. Major firms like BNY Mellon,JPMorganand Northern Trust offer custody for assets like money, securities,goldand diamonds.
While traditional financial institutions like Fidelity are beginning to step into the crypto sphere, firms likecryptocurrency exchangeandwalletserviceCoinbasehave introduced their own custody solutions. Coinbase’s custodial service, which targets institutional clients,launchedin July 2018. The exchange then stated that it had already been storing over $20 billion worth of clients’ crypto over the past six years.
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• Bitcoin Skeptic, Ex-Starbucks CEO Howard Schultz Considers 2020 Presidential Run || Silver Price Forecast Silver markets pulled back: Silver markets pulled back a bit during the trading session on Thursday, as we tested the $15.50 level. Ultimately, I think that this market will continue to see buyers underneath as the US dollar looks a bit soft, although it was slightly positive for most of Thursday. The $16 level above should continue to be resistance, and I think that we are simply trying to build up the necessary momentum to break above that level. Once we do, I think that the market is free to go much higher. SILVER Video 18.01.19 The 20 day EMA has acted quite admirably when it comes to support and resistance lately, and of course we have recently broken above a major consolidation area, which of course is a very good sign. With that being the case, I believe that the $15 level underneath is the floor in the market, and I think it will be difficult to break down below there. I also believe that it is going to take some effort to break above the $16 level finally, but once we do we will probably continue to go towards the $17 level above. That is an area that is massive resistance based upon longer-term charts, and therefore I think you should pay attention to that level. I believe in the short term, slight pullbacks will continue to be the best way to get involved in this market, picking up little bits and pieces as we go along. I would keep my position size somewhat small though, as it is very volatile. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin And Ethereum Daily Price Forecast Major Cryptos Stagnate Amid Lack of Momentum Natural Gas Price Prediction Prices Form Inside Day Following Inventory Report Markets Mixed as Investors wait for US Earnings: Pound Flat USD/CAD Daily Price Forecast USD Breached 1.33 Handle Over Declining Crude Oil Price EUR/USD Price Forecast Euro find support on Thursday USD/JPY Price Forecast US dollar pulls back against Japanese yen || Ken Rogoff: Possibility of cryptocurrency taking over fiat money is basically zero: Cryptocurrencies have had a wild ride over the last year.
On a World Economic Forum (WEF) panel calledBuilding a Sustainable Crypto-Architecturein Davos, Switzerland, one of the world’s most prominent economics professors said cryptocurrency is “a classic bubble.
“I think its transparently a bubble and there will be many papers on it,” said Ken Rogoff, Thomas D. Cabot Professor of Public Policy and Professor of Economics, Harvard University.
After surging by 1,000% against dollar in 2017, bitcoin’s valuation then crashed by over 70% since then. The volatility of the unregulated cryptos have caught the watchdogs’ eyes, especially as inexperienced investors bought into the rally in the hopes of making big returns, rather than for any fundamental belief in bitcoin as an asset or technology.
READ MORE: Bitcoin turns 10: An annotated timeline
In November last year, the US Securities and Exchange Commissiontook enforcement action against crypto crowdfunding projects,the US Justice department launchedan investigation into possible bitcoin price rigging, and later last year there were claims thathundreds of thousands of crypto miners were going out of business due to the price slump.
Rogoff has likened investing in crypto currencies asnothing more than a lottery ticket. On the panel, after discussing the wild swings of bitcoin for example, his anecdote about his child and bitcoin summarised how unpredictable the market is.
“In 2012, my daughter who was 13 at the time, mined 24 bitcoin and owned them. She told me that someone had offered her an Amazon giftcard and what should she do. I told her to sell,” said Rogoff.
He added that “I think the possibility of a cryptocurrency taking over fiat money — like dollars and pounds — is basically zero. In the history of currency, the private sector advanced everything.
Using examples ranging from the biblical era use of coins to how China developed paper money several times over, he emphasises how fiat currency will always be developed, regulated, and aggregated by the public.
“I promise you that’s the endgame here. I think if you take the crypto out of the cryptocurrency, so you can do anonymous transactions, there’s just not value-added compared to fiat,” said Rogoff.
“I want to be clear though, I don’t think [cryptocurrencies] are worthless.” He said they would have some use in a dystopian future — something he has said before.
READ MORE: The challenge for cryptocurrency firms in 2019: don’t die
[Random Sample of Social Media Buzz (last 60 days)]
Price of 1 LTC to USD: $31.77 (Change: -0.16 %)
Price of 1 LTC to BTC: 0.00865911 Ƀ (Change: -0.31 %)
#litecoin #LTC $LTC || LOVE!!ItalyWe hope to help, thank you.
/bitcoin 1896UwURka9J4MCbSdwfMc1pynArfWYXUf
/amazon.com Wish List http://www.amazon.com/gp/registry/wishlist/ref=nav_youraccount_wl?ie=UTF8&requiresSignIn=1 … || CBOE pulls bitcoin ETF filing http://omatome55.jpn.org/crypto55/?p=10650 … || Bitcoin Only https://newyork.7a7.info/?p=47437 || Whoah! this virus not only caught me "relaxing", it also ate my friggin' camera after it finished stealing ALL MY PERSONAL DATA!
Scared. Time to send in that Bitcoin before things get worse...
https://blockstream.info/address/13ro2M77RjHxEroZW5fRqP5TWoofVuJFvF …
Wait, WHAT? Not even a SegWit address? Forget it then...pic.twitter.com/qzfzZLG2yF || don't miss out on registering on Binance, before they close registrations again
https://www.binance.com/?ref=22686820
$BTC $ZCL $ETH $ETC $BCH $LTC $XRP $DASH $BTG $XLM $XMR $ZEC $SNT $ADA $NEO $NXT $OMG $POWR $VTC $VOX $XEM $LSK $DGB $DOGE $COVAL $XVG $GRS $AMP $strat $sc $XRB $NAV 40284pic.twitter.com/63wGCaB1Ey || バイト終わった
上がってる…
惜しい残念pic.twitter.com/YJPXm7g2gb || #Priceless || https://duckdice.com/aed18223d4 Give it a small try you might be #xrp #btc #xmr #ltc #Crypto #bitcoin #cryptocurrency #dicepic.twitter.com/hs8D2KSL9d || Here we go again…@jpmorgan blasts Bitcoin $BTC
https://coinrivet.com/here-we-go-again-jpmorgan-blasts-bitcoin/ …
|
Trend: up || Prices: 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-10-20]
BTC Price: 6011.45, BTC RSI: 77.03
Gold Price: 1277.40, Gold RSI: 43.32
Oil Price: 51.47, Oil RSI: 55.77
[Random Sample of News (last 60 days)]
Can Nvidia and AMD Beat the Bitcoin slump?: Unless youve been in a coma for the last few years, you know that both Nvidia Corporation (NASDAQ: NVDA ) and Advanced Micro Devices, Inc . (NASDAQ: AMD ) introduced cryptocurrency-mining specific GPUs . Recently, in a direct contradiction to earlier momentum, Bitcoin and the cryptocurrency markets are receiving a thrashing. Now deep into correction territory, the crypto investors focus has shifted from hitting new plateaus to salvaging whatever they can. Hardened veterans understand that extreme volatility comes with the territory, but what about chip makers, Nvidia and AMD? ? Bitcoin Source: Shutterstock As a quick refresher, mining is an algorithm-heavy process where computers compete to verify blocks of transactional data. The first to verify the data receives a cryptocurrency unit, such as Bitcoin, as a reward. As you might expect, mining is an intensive process. Furthermore, the competition becomes all the more fierce as the mined cryptocurrency rises in value. If you have a slow computer, you are virtually guaranteed to waste a lot of electricity for nothing. To gain an edge, miners elect to use ultra-powerful GPUs. The top sellers are AMD and Nvidia. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Naturally, as Bitcoin prices soared to the moon, interest also shifted to NVDA stock and AMD stock. While not direct investments towards cryptocurrencies, their respective associations cannot be denied. AMD admitted as such in June of this year, and for good reason. Their primary focus is on their core gaming sector, but nobody turns down free money. But now, as Bitcoin prices erode, the association is an unfavorable one. After the king of cryptos first hit $1,000 and then went on to collapse, it took down Nvidia and AMD. Potential miners got a case of the weak knees and fled to the nearest exit. Could the same thing happen again? 7 S&P 500 Stocks That Even Buffett Can't Beat Nvidia and AMD can Weather the Bitcoin Storm Before I say no, I fully disclose the fact that Im a strong advocate for cryptocurrencies. As evidence, I was one of the first people, along with my colleague Dana Blankenhorn, to speak consistently about Bitcoin and the blockchain on InvestorPlace. Furthermore, Ive been buying this crypto slump, and will continue to do so. Story continues Despite my obvious propensity for the digital markets, I still believe, for lack of a better phrase, that this time is different. I dont think current shareholders of either NVDA stock or AMD stock have anything to worry about regarding cryptocurrencies. Heres why: First, when GPU sales for Nvidia and AMD took a hit after Bitcoins mercurial boom-bust cycle in 2013 and 2014, the concept of digital coins was very much a new phenomenon. GPUs werent marketed specifically for crypto mining; rather, it just happened that miners used Nvidia or AMD devices. Moreover, these chips werent necessarily efficient or effective for mining. Competing technologies ultimately hurt GPU sales at that time, not slumping Bitcoin prices. Second, no correlation appears to exist among Nvidia and AMD stock, and Bitcoin. For the second half of this year, NVDA stock is up 17%, whereas AMD shares lost 2.5%. What might surprise lay investors is that Bitcoin is actually up 25% since July 1. Yet the most famous digital coin lost 36% over the last two weeks! These performance metrics are simply all over the place. This dynamic clearly indicates that other factors besides cryptocurrencies impact Nvidia and AMD stock. Finally, Im not convinced that lower crypto prices weaken Nvidia and AMD processor demand. Corrections weed out the speculators and Johnny-come-latelys. This helps true proponents get more bang for their mining buck through competition elimination. NVIDIA Corporation (NVDA) Stock Breakout Is Here, Can It Go to $250? The Cryptocurrency markets have Changed Drastically One broad but critical point to consider is that the cryptocurrency markets have changed dramatically in just the past five years. Back then, we had Bitcoin and Litecoin. Today, Ethereum is the number-two ranked digital currency in terms of market capitalization. According to Coinmarketcap.com , 866 digital coins currently circulate. Inevitably, when Bitcoin corrects, Nvidia and AMD stock will feel it one way or another. But in a few years time, more cryptocurrencies will gain mainstream legitimacy. Thus, miners wont exclusively focus on any one digital coin. And less popular currencies wont be stacked with competition, as I mentioned earlier. This is a tailwind, not a headwind, for the two GPU rivals. Of course, lets not forget the obvious: NVDA stock has performed superbly because of the tech firms push into potentially lucrative markets like smart cars. AMD has its gaming business and is also moving into the sectors of tomorrow (ie. cloud computing and data servers). No, the Bitcoin collapse isnt helpful. But theres no need to lose sleep over it if youve invested in Nvidia or AMD stock. Josh Enomoto is long Bitcoin, Ethereum, and Litecoin. More from InvestorPlace The 10 Best Stocks to Buy for the Rest of 2017 7 A-Rated Consumer Stocks That Will Strengthen Your Portfolio 10 Dividend Investments to Set and Forget The post Can Nvidia and AMD Beat the Bitcoin slump? appeared first on InvestorPlace . || Your first trade for Thursday, September 21: The " Fast Money " traders shared their first moves for the market open. Tim Seymour is a buyer of Chipotle (NYSE: CMG) . Karen Finerman is a seller of Blue Apron (NYSE: APRN) . Steve Grasso is a buyer on Monsanto (NYSE: MON) . Guy Adami is a buyer of Boeing (NYSE: BA) . Trader disclosure: On September 20, 2017 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AMZA, APC, BAC, C, CCJ, CLF, CMG, CSCO, DAL, DPZ, DVYE, EEM, EUFN, EWM, FB, FXI, GILD, GM, GOOGL, HAL, INTC, LOW, M, MAT, MCD, MOS, MPEL, RAI, RH, RL, SBUX, SQ, T, TWTR, UA, UAL, VALE, VIAB, VOD, VRX, XLE. Tim is short IWM, XRT, RACE, SPY. Karen Finerman is long AAL, BAC, BAC short calls, Bitcoin and Ethereum, C, DAL, short EFX, EEM, EPI, EWW, DVYE, FB, FNAC, GMLP, GLNG, GM, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, URI, WIFI, WFM. Bitcoin and Ethereum are in her kids' Trust. Her firm is long ANTM, BAC short calls, C, C calls, FB, FNAC, GOOG, GOOGL, GLNG, GMLP, JPM, JPM calls, KORS puts, LYV, SPY puts, SPY put spreads, VRX, WIFI, UAL, her firm is short IWM, MDY, VRX calls. Steve Grasso's firm is long stock AMD, APC, CMG, CTL, CUBA, DIA, DVN, F, HES, HPQ, IBM, ICE, KDUS, M, MAT, MFIN, MJNA, MSCC, MSFT, NE, ORCL, RIG, SNAP, SNGX, SPY, SQBG, TITXF, UA, VEON, WDR, WHR, WPX, ZNGA. Grasso is long stock AAPL, BABA, CAR, EVGN, JCP, MJNA, MON, PHM, SQ, T, TWTR, VRX. Grasso owns Callable Trigger contingent yield note linked to SPX RTY and MXEA. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. NO SHORTS. Steve sold VSTO. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. The " Fast Money " traders shared their first moves for the market open. Tim Seymour is a buyer of Chipotle (NYSE: CMG) . Karen Finerman is a seller of Blue Apron (NYSE: APRN) . Steve Grasso is a buyer on Monsanto (NYSE: MON) . Guy Adami is a buyer of Boeing (NYSE: BA) . Trader disclosure: On September 20, 2017 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AMZA, APC, BAC, C, CCJ, CLF, CMG, CSCO, DAL, DPZ, DVYE, EEM, EUFN, EWM, FB, FXI, GILD, GM, GOOGL, HAL, INTC, LOW, M, MAT, MCD, MOS, MPEL, RAI, RH, RL, SBUX, SQ, T, TWTR, UA, UAL, VALE, VIAB, VOD, VRX, XLE. Tim is short IWM, XRT, RACE, SPY. Karen Finerman is long AAL, BAC, BAC short calls, Bitcoin and Ethereum, C, DAL, short EFX, EEM, EPI, EWW, DVYE, FB, FNAC, GMLP, GLNG, GM, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, URI, WIFI, WFM. Bitcoin and Ethereum are in her kids' Trust. Her firm is long ANTM, BAC short calls, C, C calls, FB, FNAC, GOOG, GOOGL, GLNG, GMLP, JPM, JPM calls, KORS puts, LYV, SPY puts, SPY put spreads, VRX, WIFI, UAL, her firm is short IWM, MDY, VRX calls. Steve Grasso's firm is long stock AMD, APC, CMG, CTL, CUBA, DIA, DVN, F, HES, HPQ, IBM, ICE, KDUS, M, MAT, MFIN, MJNA, MSCC, MSFT, NE, ORCL, RIG, SNAP, SNGX, SPY, SQBG, TITXF, UA, VEON, WDR, WHR, WPX, ZNGA. Grasso is long stock AAPL, BABA, CAR, EVGN, JCP, MJNA, MON, PHM, SQ, T, TWTR, VRX. Grasso owns Callable Trigger contingent yield note linked to SPX RTY and MXEA. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. NO SHORTS. Steve sold VSTO. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Your first trade for Wednesday, September 20 Chip stocks are surging and the party's not over yet: Technician One of Wall Street's biggest bulls says he hasn't been bullish enough || Why Cash is Still King in Africa: In a world where bitcoin and cryptocurrencies capture newspaper headlines, it might be hard to believe that cash is still king—but in most of the world, it is. From Africa to Germany, the majority of transactions are done in cash. Ninety-four percent of retail transactions in Africa are still conducted in hard currency and nearly 80 percent of all transactions in Germany are also carried out in cash. Uber launched with 100 percent digital payments in the United States, but had to change its strategy in India, where Hyderabad drivers were the first to accept cash . As the company expanded to Kenya and Nigeria, they added a cash option but went even further by accepting “digital cash”, or payments made outside the app using mobile money. To scale in markets with low digital payment penetration, they had to mix online and offline transactions to offer consumers an option they were used to—cash payments. Ultimately, what drives how people to choose to pay for everyday purchases is not defined not by one thing—like what form it takes, or who accepts it—but by how well it succeeds in bringing together two very basic human needs: faith and flexibility. 0922_Africa_cash A shopkeeper counts out change above her cash box at her shop in Hillcrest, west of Durban, South Africa, January 11, 2016. Rogan Ward/Reuters Africa’s reputation as a leader in the adoption of financial technology is not because the region pioneered a new technology. Mobile-money operators have succeeded because they have blended technology into an existing culture and ecosystem that was “offline” and engendered trust of consumers. Read more: How mobile banking brought water back to Nairobi's slums Mobile money operators leverage small retailers called agents, who offer cash-in and cash-out services to consumers. In some countries, operators allow the agents to perform transactions on behalf of the consumer. While these services are technology-based, cash is still at their core: customer pay agents in cash and funds are transferred to other users, who withdraw the cash from another agent. Story continues Today, mobile money is a strong competitor to cash transactions in Kenya . With more than 35 million subscribers across multiple operators, nearly 50 percent of the country’s GDP passes through these networks. By introducing local retailers, who consumers trust, into the digital payments ecosystem, mobile-money operations across the region have witnessed strong growth. Trust is established because of the face-to-face engagement, which currently outweighs faith in machines. 0922_Africa_cash A man waits for M-Pesa customers at his shop in Kibera in Kenya's capital Nairobi December 31, 2014. M-Pesa is a popular mobile money transfer service. Noor Khamis/Reuters Digital payments are a convenient way to quickly send and receive money, and create transaction histories that demonstrate eligibility for credit. But to transition to a fully digital payments world, we need to leverage human interaction to build faith in the system in emerging and developed markets alike. BNP Paribas, one of France’s largest banks, recently acquired Compte-Nickel, a fintech start-up. Compte-Nickel’s innovation was simple—bring banking and digital payments to communities through the neighbourhood newsstand. Consumers visit the newsstand, open a bank account, and receive a debit card in less than five minutes. At the time of acquisition, Compte-Nickel had 2,500 agents, which made it the largest network for financial services in France. The success of Compete-Nickel is based on leveraging a trusted agent—similar to the mobile-money networks pioneered across Africa. Fully digital services like Venmo, America’s largest P2P money transfer network, are also learning that the convenience of digital services cannot escape customer’s faith that comes from human interaction. When the company launched, it had just a dozen representatives shooting off emails. After a chorus of complaints, the service not only now offers a 24/7 phone number to call, but employs over 130 full-time employees to manage the 4,000-5,000 time-sensitive inquiries it receives every day. Venmo’s shift is a sign that complete automation won’t be achieved soon. Even as innovative mobile platforms become popular, human connections play an integral role in ensuring that users trust the service. The digital payments technology landscape is evolving at a rapid pace, but adoption has not yet caught up. For cash to stop being king, we need to embrace methods that build consumer faith in digital systems. Trust and currency go hand in hand. Rather than resist cash, it’s time to work with the grain of society by embracing a human touch, and a mix of cash and digital, to eventually drive a cashless society. Tayo Oviosu is the founder and CEO of Paga, Nigeria’s leading mobile payment service. He tweets at @oviosu . Related Articles How Mobile Banking Brought Water Back to Nairobi's Slums How to Tackle Nigeria's Expensive E-Banking Fraud Problem Will China's Alipay Be Able to Compete With Apple Pay? The Future of Money: Bitcoin and Other Cryptocurrency Technologies Are a Way of Life in This Small Swiss Town || Cryptocurrency Investors In A Pinch For Cash Need Look No Further Than The Nearest Bitcoin ATM: Many cryptocurrency investors see long-term value and opportunity in deregulated, inflation-free digital currencies. But outside of being long-term investments bitcoin, Ethereum and other digital currencies are actual currencies as well.
In other words, cryptocurrencies areoften traded, spent, acquired and discussed digitally, but turning your digital bitcoin into cash in your hand may be much easier than you realize.
As of the beginning of 2017, there were more than 550 bitcoin ATMs installed throughout the United States. At the beginning of 2016, there were only 450 bitcoin ATMs in the world. Less than two years later, that number has more than tripled to 1509, according toCoin ATM Radar.
With the price of bitcoin up more than 350 percent year-to-date and cryptocurrencies getting more and more media attention, investors can expect that meteoric growth to continue in years ahead. Coin ATM Radar estimates that the number of operational bitcoin ATMs is increasing by an average of 1.72 machines per day.
Demand for bitcoin ATMs has gotten so large that it has even spawned startups, such as LibertyX. LibertyX operates 19,000 of the U.S. bitcoin ATMs.
Related Link: Does Bitcoin Actually Hold Any Value At All?
Other crytocurrency ATMs are springing up as well, with the first Toronto Ethereum ATM opening up earlier this month.
For now, a bitcoin ATM may not be right around the corner, but it may be closer than you think. For bitcon investors that could use some quick cash, Coindesk has a map of all the bitcoin ATMs in the world on its website.
But as with standard ATMs, withdrawing cash comes at a price. The average bitcoin ATM charges a steep 8.99 percent fee.
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© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || “Burnout” is not only a personal problem, it’s a workplace problem: As “burnout” among workers has gained attention in the popular media, a conventional wisdom has developed around avoiding it. Essentially, the advice is to “take care of yourself.” Be healthy. Be strong. Be resilient. Be smarter about time management. Don’t let the stressors get to you—fight on and overcome them. Tips to “combat burnout” in a recent New York Times article, for instance, focused on individual interventions such as deep breathing, taking breaks, taking time off to recover, and working remotely. Although certainly everyone can benefit from a healthy lifestyle, regular sleep, and mindful practice, as decades-long burnout researchers and the co-editors of the Burnout Research e-journal, we find the underlying message conveyed by this type of advice to be disturbing, namely that burnout is only a personal problem and “you just have to tolerate stressful workplaces.” Bitcoin’s latest record high makes Satoshi Nakamoto the 247th richest person in the world People who experience burnout become chronically exhausted, become cynical and detached from their work, and feel increasingly ineffective on the job. This experience is not simply a sign of personal weakness. In fact, research shows stressors beyond an individual’s control—such as too many demands, unrealistic deadlines, unpredictable schedules, difficult interactions with colleagues or customers, and technology challenges—all contribute to burnout. Highly stressful workplaces are often poorly designed, socially toxic, and exploitative environments. Why should such workplaces be given a free pass, when they are the sources of stress, while their inhabitants are being told that burnout is their own personal problem and responsibility? Instead of letting such bad job settings off the hook, we should also be focusing on how to improve the workplace environment. Burnout is a signal that things are not going well in the relationship between people and their workplaces, and as with any relationship, both sides need to be part of the solution. Story continues Ergonomics, which examines the relationship between workers and their physical environments, offers one way to create healthier workplaces. Improved designs for seating, computer workstations, and airline cockpits are just a few examples of how an ergonomics approach can improve efficiency, comfort, and safety. We should aim to extend this design approach to the social and psychological environment at work, which we know plays a large role in burnout. Here are a couple of examples: Fragments of Halley’s Comet will fly across the sky this weekend as shooting stars Members of a workgroup can take action to improve their everyday relationships with colleagues. It is not enough to simply ignore rude and inconsiderate behavior. Rather, the group should take an active role in insisting that colleagues and, yes, even managers, behave with professional consideration at work. Civility interventions such as CREW (Civility, Respect, & Engagement at Work) and SCORE (Strengthening a Culture of Respect & Engagement), have been shown to reduce socially toxic cultures, and have led to decreases in burnout and absenteeism. The bitterness and cynicism of burnout can be linked to unfair processes in the workplace, which fail to reward deserving workers or to provide them with the same opportunities given to others. However, such processes can be changed, in ways that are more clearly fair and meaningful for all. One organization that we worked with decided to revamp a “distinguished service award” that was widely despised as unfair, and instead brought together a team of various employees to develop a better design for recognizing special achievements. Not only was this new award process accepted with relief and applause, it led to a more positive work culture of shared pride and collegiality. The lesson to be learned here is that it is indeed possible to redesign the social job environment to better support the people who work in it, and these kinds of social ergonomic changes do not have to be huge or wildly expensive. Poor work conditions should not be considered an inevitability to be suffered in silence. Small steps of improvement can have larger ripple effects as people begin to see that positive change is possible. The conventional advice about coping with burnout isn’t completely wrong. People should bring their best selves to work. But it is not the whole story about solving the problem. Vibrant workplaces require leaders to apply the most insightful lessons of management science and psychological wellbeing to develop job settings that inspire everyone to do better. We need to take care of both the workers and the workplace, in order to ensure that the former will thrive and the latter will succeed. Christina Maslach is a professor emerita of psychology at the University of California, Berkeley. Michael P Leiter is a professor of organisational psychology at Deakin University. They are the co-editors of the Burnout Research e-journal. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: While Elon Musk is firing his US workers, he’s giving the Germans a huge pay rise David Fincher, the first filmmaker to defect to Netflix, perfectly sums up modern cinema || Epazz Launches Reg CF Crowdfunding Campaign to Market Bitcoin Cannabis Payment Mobile App (ZenaPay) and Other Cloud Software Products: CHICAGO, IL--(Marketwired - Oct 4, 2017) -Epazz, Inc. (OTC PINK:EPAZ), a leading provider of cloud-based business software solutions, announced that it is raising capital under Reg CF in order to reach the goal of $1 million. The funds will be used to add to the company's sales, marketing, and software-development force to focus on selling ZenaPay Bitcoin Cannabis Payment Solution and other cloud-based business software solutions and to increase the speed of its software development cycles to release new updates and new products.
The company will soon release a demo video of the ZenaPay bitcoin cannabis payment mobile app. The company is finishing up registration with Apple's App Store in order to release the app. Later, the company will finish development of the Android version of ZenaPay.
Epazz CEO Shaun Passley, PhD, noted, "We are pleased to announce our Unit Offering to the public." Shaun continued, "This up-to-$1 million offering should allow Epazz to continue to grow the free cash flow, earnings per share, and market share."
The terms of the offering are expected to be as follows. Please note that these are only an indication of terms, and final terms will be outlined in the final definitive legal documents. This transaction is only open to accredited investors and institutional investors. Expected terms of the unit offering:
Epazz Unit Offering of Revenue Sharing Preferred Shares Series D up to $1 million under Reg CF
Proposed TermsIssuer:Epazz, Inc. (the "Issuer").
Offering:Revenue Sharing Preferred Stock Series D ("Preferred Stock") via Reg CF of the Jobs Act ($0.25 per Preferred Share). Minimum investment of $1,000 or 4,000 Preferred Shares, plus Transfer Agent cost of $35 per certificate.
Offering Amount:Up to US $1 million (4,000,000 Preferred Shares Series D).
Investors:Institutional, Accredited, and Non-accredited Investors ("Holders").
Use of Proceeds:The Company intends to use the net proceeds for marketing, sales, software development, and general working capital purposes and other necessary expenditures as determined at the discretion of management.
Commencement Date:Commencing with the first full calendar month following the closing, within thirty (30) calendar days following the end of each calendar month, the Company will begin making cash payment (collectively, the "Monthly Revenue Share Amount") to the holders of preferred shares.
Revenue Share Percentage:The Monthly Revenue Share Amount will be in an amount equal to up to 7% of Company Gross Revenues for such calendar month. Each Revenue Sharing Investor's pro rata share of the Monthly Revenue Share Amount shall be determined by dividing such Holder's investment amount by the investment amounts of all Holders as of the first day of the calendar month applicable to such Monthly Revenue Share Amount.
Maximum Revenue Share Amount:The Monthly Revenue Share Amount will continue to be paid until each Holder has received aggregate payments in an amount equal to 1.25 times such Holder's investment amount (each such Holder's "Maximum Revenue Share Amount").
Revenue Definition:For any applicable calendar month, Company Gross Revenues will be an amount equal to all gross revenues from the sale of products or services by the Company or any parent, subsidiary, or affiliate of the Company during such calendar month as determined under US generally accepted accounting principles, consistently applied.
Termination Date:In the event the Holder has not received the Maximum Revenue Share Amount prior to December 31, 2020 (the "Maturity Date"), the Company shall convert the Preferred Shares into Common A shares, on or before the Maturity Date, an amount equal to the Maximum Revenue Share Amount less the sum of all previous payments made by the Company to the Holder at the Market Price of the Common A shares.
Manner of Payment:All such payments to the Holder shall be deposited into a bank account of the Holder's choosing at the time of investment, or any successor account thereto which may be established by the Holder, or provided via check to the Holder. The Holder will have an option not to receive cash payment in favor of future conversions into Common A shares.
Overdue Payments:The Company shall be assessed a late payment charge at an annual rate equal to three percent (3%) of any Monthly Revenue Share Amount not paid within ten (10) business days of becoming due. This late payment charge is cumulative and assessed once per month from the due date until the date of payment thereof and shall accrue and be added to any balance of unpaid amounts subject to late payment.
Forced Conversion:Preferred Shares may be Force Converted into Common A shares (with 5 business days' notice from the Issuer) an amount equal to the Maximum Revenue Share Amount less the sum of all previous payments made by the Company to the Holder at the Market Price of the Common A if and only if the Issuer's Common A stock is quoted on a national stock exchange such as Nasdaq or New York Stock Exchange.
The terms and conditions set forth herein are subject to change, and this letter does not constitute an offer and are indicative and subject to change based on market conditions. Neither this term sheet nor any discussion or negotiation of the proposed transaction constitutes an agreement or obligation on the part of any person to purchase or sell securities of Issuer or enter into any agreement to purchase securities of Issuer.
For more information about the offering or to receive a prospectus, please go tohttp://investors.epazz.comorinvestors@epazz.net.
About ZenaPay (www.zenapay.com)ZenaPay is being developed to solve a major problem in the "420 industry": getting paid. For cannabis-related businesses, the largest issue they face is how to be paid for their products. Traditional banking systems will not allow 420 industries access to their payment systems. ZenaPay will offer a cutting-edge payment solution that offers consumers a way to buy cannabis online or in stores using bitcoin. The newcannabis payment softwarewill allow consumers to use the digital currency to make online or in-store purchases with ease. Additionally, the process will be anonymous because all transaction details are encrypted through bitcoin. This will allow stores to accept digital currency instead of only cash.
About Epazz, Inc. (www.epazz.com)Epazz, Inc. is a leading cloud-based software company that specializes in providing customized cloud applications to the corporate world, higher-education institutions, and the public sector. Epazz BoxesOS™ v3.0 is the complete web-based business software package for small- to mid-sized businesses, Fortune 500 enterprises, government agencies, and higher-education institutions. BoxesOS provides many web-based applications that organizations must otherwise buy separately. Epazz's other products are AgentPower™, a workforce management software, and AutoHire™, an applicant-tracking system.
SAFE HARBOR"Safe harbor" statements are protected under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of such terms as "may," "expect," "intend," "estimate," "anticipate," "believe," "continue," or the negatives thereof or similar terminology. Such forward-looking statements are subject to risk, uncertainties, and other factors that could cause actual results to differ materially from future results or from results implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz, Inc. assumes no obligation, does not intend to update these forward-looking statements, and takes no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz's public filings on SEC.gov, including its unaudited and audited financial statements, Registration Statement, and Form 10-Ks and Form 10-Qs, which contain general business information about the Company's operations as well as results of operations and risks associated with the Company and its operations. || 4 Reasons Why Cloud Token Cryptocurrency Will Succeed: Millions of businesses have opted for cloud computing enabling employees to work from anywhere on any device. This is the new normal for any SMBs , with bigger corporations also seeking to reduce costs by enabling employees to work from home. Fewer desks, less rent, no need to buy expensive in-house servers and employ someone to maintain them. It’s not unusual to connect with colleagues worldwide at an agreed time that (almost) suits everyone. Cloud services also offer a safety net – With the risk of physical damage to servers, natural disasters, electrical outage and worse that can potentially close a site, the sensible option is to store and run a business from the cloud. With the cost of cloud services ever increasing and making it impossible for SMBs in emerging markets to reach their potential, Cloudwith.me , based in Dublin’s tech hub, saw an opportunity to decentralize the cloud and make it accessible to all. To fund this vision, Cloud With Me launched the cryptocurrency Cloud Token . Cloud Tokens (CLD) are set to hit main Bitcoin and Altcoin exchanges starting from the 21 st of September when their price may start to skyrocket due to buyer demand in the token that aims to finally decentralize cloud services. The important issue here is not only distributed computing, it’s the ability to have a working network that is responsible for the decentralized compensation for the usage of the computation. The Ethereum blockchain technology allows a way of compensating individuals (with Cloud Tokens) for giving their computation power to the decentralized cloud. Cloud Token As written in the Cloud Token White Paper : The cloud-hosting space is currently very far from perfect competition. It has been described by some as an oligopoly: a market dominated by a handful of major players, where no new player of any meaningful size can enter. An oligopoly has a natural tendency to drive prices way above what they might be in a truly competitive market. Story continues The Initial Coin Offering (ICO) for Cloud Token closed on August 25th. Tokens are currently still available for purchase before trading begins on currency exchange sites on September 21st. Cloud with me The global interest in Cloud Token can be attributed to the 4 following reasons: Decentralized Cloud Services With other blockchain based cloud services launching their own cryptocurrencies (such as Storj, Golem, and iExec), Cloud Token may not be considered unique on first appearances. As Cloud With Me’s co founder and CTO explains in his blog , the difference is in the appeal to the masses. This is not a cryptocurrency that alienates the less technologically advanced. Their objective is to make cloud services available to everyone – regardless of tech experience, at a significantly reduced rate (reduction predicted at 94% at the 3-year mark). Globally, those that had previously been priced-out will be given access to an “open playground”. “The goal is to create a decentralized peer-to-peer cloud-based ecosystem that will enable millions of people globally to share, operate and get the financial benefits from any cloud service and application directly between them in a trusted and efficient manner; from music to social insurance and investment services, in a wholly secure and private environment. We call it the Crowd Cloud.” Asaf Zamir. Co-founder and CTO The funds raised through the sale of Cloud Token will be used to deploy a global GridNode infrastructure – The framework for building the Crowd Cloud. Easy As 1-2-3: Decentralized Cloud Services And Payment System For The Masses, A Simple Yet Brilliant Project Earning Potential Millions of devices across the world will be able to contribute redundant computing power to the cloud. While you’re sleeping, your laptop, phone, computer, etc can donate spare processing power to a communal decentralized cloud through a GridNode assigned to you. Cloud services within this ecosystem will be monetized with Cloud Tokens. Contributors will earn a continuous income for donations, and buy any cloud services needed at a fraction of the cost. The Cloud Token project roadmap has a defined 3-year plan, with the goal of compensating contributors in year 1: Ringo – Seeding ICO + 0 Use Cloud tokens to access selected cloud services at 50% cost reduction and increase accessibility Kickstart the development of an open GridNode software component Bootstrap community processes to define ‘Harrison’ phase components Harrison – An Open Playground ICO + 12 months Anyone can become a GridNode owner and receive compensation over blockchain Owners of experiment applications can deploy them to the open grid First launch of all services that are critical to supporting an open grid McCartney – A Dependable Grid ICO + 24 months Safely deploy applications that include sensitive information Elastic compute, request routing and content delivery allow applications to scale globally Some GridNodes deployed as tamper-proof appliances leveraging Lennon – Expansion ICO + 36 months The decentralized grid becomes a mainstream cloud hosting platform, addressing a significant portion of cloud computing cases Many GridNodes are deployed as tamper-proof appliances that leverage Trusted Computing technologies Applications can comply with selected domain-specific regulations Immediate Liquidity This is very rare for an ICO – The usual waiting period is around 12 to 36 months as creators rely on funds raised during the ICO to build a prototype, allowing the tokens/coins to be used. Astutely, the liquidity is created by the company itself. Cloud With Me is already a successful business, providing a service that streamlines the process for SMBs installing cloud servers. Their customer base is global, and its success is credited to their simplified approach and removing the need for technical expertise. Investors of Cloud Token can immediately use tokens to buy half price Amazon Web Services (AWS) and Microsoft Azure cloud services through their site. This created a demand for tokens long before they are scheduled to hit exchange websites on September 21st, 2017. If cloud services are not high on the list of an investor’s needs, the Cloud Token wallet also allows the exchange value to be monitored and tokens traded for Bitcoin , Ether , and USD. You Can Now Buy Tokens With a Credit Card A first for any ICO, Cloud Tokens can be purchased by credit card and wire transfer. For anyone new to buying cryptocurrency, the process of creating a wallet and finding a secure avenue to invest is overly complex and often a deterrent. By simplifying this process, Cloud With Me has achieved their tagline: “The first ICO for all”. Tokens are currently still available for purchase before trading begins on currency exchange sites on September 21st. Important Cloud Token Info Initial Cloud Token price: 1 Cloud = 10 USD Buy Cloud Tokens With Credit Card! Buy AWS and Microsoft Azure cloud services with a 50% discount through Cloud With Me. To buy cloud tokens go to Cloud with me This article was originally posted on FX Empire More From FXEMPIRE: E-mini Dow Jones Industrial Average (YM) Futures Analysis – Bullish Over 22004, Bearish Under 21856 This Week Dow Jones 30 and NASDAQ 100 Price Forecast to timber 5, 2017, Technical Analysis Nervous Investors Shed Risk and Bought Gold S&P 500; US Indexes Fundamental Daily Forecast – U.S. Holiday Traders Show Limited Reaction to North Korea S&P 500; US Indexes Fundamental Weekly Forecast – Geopolitical Tensions Pose Short-Term Risks to Stocks Major US Indices Forecast, September 4, 2017, Technical Analysis || US Dollar Index (DX) Futures Technical Analysis – Strong Over 93.52, Weak Under 93.34: December U.S. Dollar Index futures were up on Tuesday as investors reacted to the possibility that President Trump could select a more hawkish Federal Reserve chief than current Chair Janet Yellen. With the chances of a rate hike in December sitting at about 90 percent, investors may start to shift their focus on the next Fed chair.
The dollar was underpinned after Stanford University economist John Taylor emerged as a major candidate. Taylor, a proponent of a rule-based monetary policy, believes rates should be much higher than the current target of 1.0 – 1.25 percent. Rates could rise faster if Taylor is appointed and this would be bullish for the U.S. Dollar.
The main trend is up according to the daily swing chart. After five day set-up, momentum has shifted back to the upside. A trade through 94.10 will signal a resumption of the uptrend. A move through 92.59 will change the main trend to down.
The short-term range is 94.10 to 92.59. Its retracement zone at 93.34 to 93.52 was tested on Tuesday. This zone is very important to the structure of the market. Aggressive counter-trend sellers are trying to stop the rally in an effort to form a secondary lower top. Trend traders will try to drive the dollar through the retracement zone in an effort to make 92.59 an important main bottom.
It’s going to be difficult to break the dollar hard because of the series of retracement levels at 92.90, 92.66, 92.45, 92.32 and 92.06. Each are potential support levels.
The near-term direction of the index will be determined by trader reaction to 93.34 to 93.52.
A sustained move over 93.52 will signal the presence of buyers. This could generate enough upside momentum to challenge the major 50% level at 94.05 and the last main top at 94.10.
A sustained move under 93.34 will indicate the presence of sellers. This could lead to a labored break.
Look for a bullish tone on a sustained move over 93.52 and a bearish tone on a sustained move under 93.34.
Thisarticlewas originally posted on FX Empire
• Major US Indices Forecast, October 18, 2017, Technical Analysis
• S&P 500 Price Forecast October 18, 2017, Technical Analysis
• DAX Index Forecast October 18, 2017, Technical Analysis
• UK Inflation at 5-Year High, Pound Falls on Carney’s Comments
• EURUSD Daily Fundamental Forecast – October 18, 2017
• Bitcoin and Ethereum Price Forecast – Consolidation Mode || The Day Ahead: Top 3 Things to Watch: Investing.com – Here’s a preview of the top 3 things that could rock markets tomorrow
US macro data on tap
Market participants look ahead to the release of a U.S. housing data for signs that third quarter economic growth remains on track.
U.S.home building activityis expected to show weakness for the second month in a row amid a fall in construction of single and mutli-family homes.
The data comes ahead of the Federal Reserve policy statement due Wednesday. It’s widely expected that the Fed will keep rates unchanged and announce that it will begin tapering its $4.5tn bond portfolio. The central bank is also expected to offer insight on the strength of the economy and expectations about future interest rate increases.
Ahead of the data, the greenback which rose against its rivals.
Eurozone data in the spotlight
As the euro continues to flirt with $1.20, investors turn attention to the eurozone ZEW economic index to gauge the six-month outlook for the Eurozone.
The reading compiled from a survey of Eurozone institutional investors and analysts is expected to show an improvedreading of 32.4on the previous month’s reading of 29.3. The data comes amid growing expectations that the European Central Bank will begin to taper its loose monetary policy sooner rather than later.
EUR/USD rose 0.13% to $1.1955 on Monday.
Bitcoin’s post-China-ban recovery
Less than a week after Bitcoin suffered one its worst crashes in its nine-year history after Chinese authorities ordered all local cryptocurrency exchanges to cease trading, the popular cryptocurrency is well on its way to pairing losses.
The current rebound in Bitcoin is expected to be closely monitored for any signs of weakness as the two largest exchanges in China OKCoin and Huobi are in the midst of shutting down operations ahead of the Oct. 30 deadline.
Bitcoin rose to $3978, up $311, or 8.48%.
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Peru stocks higher at close of trade; S&P Lima General up 0.09%
UK's May to press Trump this week on Boeing/Bombardier dispute || Top finance stories, September 15, 2017: What’s news? Here are the top finance stories right now: North Korea fires another missile over Japan : North Korea sent a missile over Japan and into the northern Pacific Ocean in its longest-ever test flight. According to a North Korean newspaper, this demonstrates that the country can “turn the American empire into a sea in flames through sudden surprise attack from any region and area.” Alphabet is looking to invest in Lyft : Alphabet’s private-equity arm may invest $1 billion in ride-hailing company Lyft, Bloomberg reported. Lyft is the No. 2 ride provider behind Uber Technologies. Angry Birds maker Rovio thinks it’s worth $1 billion : Finnish mobile games company Rovio Entertainment set its the initial price range for its IPO at 10.25-11.50 euros per share would give the company a market value of 802 million euros to 896 million euros ($955.34 million – $1.07 billion). Oracle earnings beat expectations, but outlook disappoints : Oracle’s reported revenue of $9.21 billion and earnings of $0.62 per share, beating expectations for the quarter ending August 31. But management’s outlook for current quarter earnings fell short of expectations, signaling slowing growth in its red-hot cloud computing business. US equity funds see biggest inflows in 13 weeks : Investors poured $1.9 billion into US stock funds in the week ending September 14, according to Bank of America Merrill Lynch. Market update: World markets are brushing off the latest defiant act from North Korea. Stocks closed higher in Asia with Japan’s Nikkei climbing 0.5% and Hong Kong’s Hang Seng up 0.1%. Markets are flat in Europe. The British pound climbed to a 14-month high of $1.35 after Bank of England’s Gertjan Vlieghe said “the appropriate time for a rise in Bank Rate might be as early as in the coming month.” … A few more headlines: Japan’s Softbank wants a big chunk of Uber, but at a steep discount Macy’s to hire 80,000 workers for holidays, fewer than last year Portland probe finds Uber used software to evade 16 government officials Story continues Facebook is the latest tech giant to hunt for AI talent in Canada Who’s Warren Buffett’s successor? JPMorgan thinks it’s Greg Abel Hugh Hendry closes hedge fund after 15 years as losses mount What’s ahead Friday (All times ET): 8:30am: Retail Sales: Analysts estimate 0.1% growth month-over-month, or 0.3% excluding autos and gas. 9:15am: Industrial Production: Analysts estimate 0.1% growth month-over-month. 10:00am: Univ. of Michigan Consumer Sentiment: Analysts estimate this index fell to 95 from 96.8 a month ago. Something to think about: Bitcoin is in hyperinflation The unfavorable sentiment towards Bitcoin by Wall Street analysts persists . Here’s UBS’s Paul Donovon on the suggestion that Bitcoin is a currency: “In 1922, the start of the Weimar hyperinflation saw the German Mark lose 27% of its value against the dollar every fortnight. Bitcoin has lost 45% of its value against the dollar in the last fortnight. If Bitcoin were a currency, that loss of value would be considered hyperinflation. German Mark banknotes could be reused as wallpaper. Bitcoin cannot.” Yahoo Finance originals worth checking out: Hurricane Irma couldn’t come at a worse time for the US Virgin Islands Here’s Facebook Messenger’s plan to get its next 1 billion users You have over 70 different credit scores Why NFL scandals don’t matter to corporate sponsors You and I don’t deserve a tax cut
[Random Sample of Social Media Buzz (last 60 days)]
#bitcoin non si ferma più? Analisi tecnica || Preços do bitcoin em alta, recuperação do bitcoin cash - https://invst.ly/5efqm || #bitcoin non si ferma più? Analisi tecnica || #bitcoin non si ferma più? Analisi tecnica || GITEX Technology Week: Dubai Land Department to adopt blockchain technology via /r/btc http://ift.tt/2g3fdCz || Bitcoin Price Heads to $5,000 Despite Russia’s Cryptocurrency Exchange Ban Rumors Bitcoin Price Heads to $5,000 De… http://bit.ly/2gavMMP || bitstamp: $ 4589.95
coinbase: $ 4599.03
kraken: $ 4596.9
Average: $ 4595.29 || More Sideways Trading as Bitcoin Price Action Calms Down https://buff.ly/2glpAhT #fintech #startup via @FintechBot || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies
|
Trend: up || Prices: 6031.60, 6008.42, 5930.32, 5526.64, 5750.80, 5904.83, 5780.90, 5753.09, 6153.85, 6130.53
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-09-08]
BTC Price: 626.32, BTC RSI: 69.60
Gold Price: 1336.80, Gold RSI: 52.54
Oil Price: 47.62, Oil RSI: 58.07
[Random Sample of News (last 60 days)]
Gold Consolidation Continues Ahead Of Fed Meeting: At 2 p.m. ET, the Federal Reserve is set to release its decision following this month’s meeting, but the market doesn’t seem to be expecting much.
“In another era, there would be massive pressure on the FOMC to raise rates but no-one expects anything from today’s meeting,” Societe Generale analystKit Juckesexplained. “Still, some acknowledgement of the improved economic backdrop is likely in the statement and the market will go on slowly raising the odds of a 2016 rate hike.”
Related Link:Oil & Stocks Have Decoupled, But Daily Returns Remain Correlated
Since breaking out to new highs in late June, theSPDR Gold Trust (ETF)(NYSE:GLD) has been drifting downward throughout the month of July. Since July 1, GLD is now down 1.4 percent, while theSPDR S&P 500 ETF Trust(NYSE:SPY) is up 2.9 percent.
GLD’s trading range has been particularly narrow over the last 10 sessions, having not traded higher than $127.50 or lower than $125.11 during that stretch.
GLD investors are hoping that the Fed’s policy announcement will be the catalyst that will propel GLD out of its consolidation phase and into the next leg up of its rally. GLD is up more than 25 percent-plus since December when the ETF found support at the $100 level.
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Disclosure: The author holds no position in the stocks mentioned.
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Hacking group claims to offer cyber-weapons in online auction: By Joseph Menn (Reuters) - Hackers going by the name Shadow Brokers said on Monday they will auction stolen surveillance tools they say were used by a cyber group linked to the U.S. National Security Agency. To arouse interest in the auction, the hackers released samples of programs they said could break into popular firewall software made by companies including Cisco Systems Inc (CSCO.O), Juniper Networks Inc (JNPR.N) and Fortinet Inc (FTNT.O). The companies did not respond to request for comment, nor did the NSA. Writing in imperfect English, the Shadow Brokers promised in postings on a Tumblr blog that the auctioned material would contain cyber weapons developed by the Equation Group, a hacking group that cyber security experts widely believe to be an arm of the NSA. [ http://reut.rs/2aVA7LD] The Shadow Brokers said the programs they will auction will be better than Stuxnet, a malicious computer worm widely attributed to the United States and Israel that sabotaged Irans nuclear programme. Reuters could not contact the Shadow Brokers or verify their assertions. Some experts who looked at the samples posted on Tumblr said they included programs that had previously been described and therefore were unlikely to cause major damage. The data [released so far] appears to be relatively old; some of the programs have already been known for years, said researcher Claudio Guarnieri, and are unlikely to cause any significant operational damage. Still, they appeared to be genuine tools that might work if flaws have not been addressed. After examining the code released Monday, Matt Suiche, founder of UAE-based security startup Comae Technologies, concluded they looked like "could be used." Other security experts warned the posting could prove to be a hoax. The group said interested parties had to send funds in advance of winning the auction via Bitcoin currency and would not get their money back if they lost. The auction will end at an unspecified time, Shadow Brokers said, encouraging bidders to "keep bidding until we announce winner." (Editing by Cynthia Osterman) || Hong Kong bitcoin exchange says it was hacked, trading suspended: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Hong Kong-based digital currency exchange Bitfinex said late on Tuesday it has suspended trading on its exchange after it discovered a security breach, according to a company statement on its website. Bitfinex is one of the largest exchanges for trading digital currencies bitcoin, ether, and litecoin. It has offices in Europe and the United States and is known in the digital currency community for having a platform that has deep liquidity in the U.S. dollar/bitcoin currency pair. The company said it has also suspended deposits and withdrawals of digital currencies from the exchange. "We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen," the company said. "We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, bitfinex.com will be taken down and the maintenance page will be left up." The company said it has reported the theft to law enforcement. It said it has not yet determined the value of digital currencies stolen from customer accounts. Bitfinex also said as it goes through individual customer losses, it may need to settle open margin positions, associated financing, or collateral affected by the security breach. Any settlements will be at the current market price as of 18:00 UTC (1800 GMT), the company said. The attack on Bitfinex was reminiscent of a similar breach at Mt. Gox, a Tokyo-based bitcoin exchange forced to file for bankruptcy in early 2014 after hackers stole an estimated $650 million worth of customer bitcoins. Bitcoin late on Tuesday was down 6.35 percent at $567.83 on the BitStamp platform. || Bitfinex says expects 'socialized loss' for $72 million bitcoin hack: By Clare Baldwin HONG KONG (Reuters) - Hong Kong-based crypto-currency exchange Bitfinex, from which hackers stole about US$72 million worth of bitcoin this week, said on Friday that it expected to "socialize" the losses among bitcoin balances. In dollar terms, the theft of the 119,756 bitcoin revealed on Tuesday was the second-biggest security breach ever of a digital currency exchange. The theft accounted for about 0.75 percent of all bitcoins in circulation. "We are still working out the details," Bitfinex said on its website, "however, we are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions." The exchange, which is known for its liquidity in the U.S. dollar/bitcoin currency pair, did not explain what that would entail. It has said previously it would settle accounts at an exchange rate of $604.06, the midpoint of the bid and ask on Aug. 2, 2016 at 18:00:00 UTC. The price of bitcoin plunged more than 23 percent on Tuesday when news of the hack became public, trading as low as $465.28 on the BitStamp platform BTC=BTSP. It was trading at $569.84 on Friday. (Reporting by Clare Baldwin; Editing by Will Waterman) || Your first trade for Wednesday, July 27: The " Fast Money " traders shared their first moves for the market open. Dan Nathan was a seller of Apple (NASDAQ: AAPL) . The iPhone maker had reported an earnings beat after Tuesday's close. Brian Kelly was a seller of the SPDR S&P Metals & Mining ETF (NYSE Arca: XME) . Karen Finerman was a buyer of Facebook (NASDAQ: FB) which is due to report quarterly numbers after Wednesday's close. Guy Adami was a buyer of Valero (NYSE: VLO) . Trader disclosure: On July 26, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Brian Kelly is long Bitcoin, DXJ, GLD, MOS, POT, SLV, US Dollar UUP; he is short CHF=, EUR=, JPY=. Karen Finerman is long AAL, BAC, C, DAL, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. Dan Nathan is Long JD Aug call spread, Long TWTR, IWM long Sept put, XLF long Aug put spread, XLK long Sept Put spread, FXI long Aug put spread, SMH long Aug put spread, long PYPL call calendar, long C Aug put spread, XOP Sept put spread, TGT long Aug calls, TSLA long Aug put, BAC long Sept put, Long FEZ Nov put spread. Guy Adamiis long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. BGC Financial's Colin Gillis: No disclosures. SunTrust's Robert Peck: An affiliate of SunTrust Robinson Humphrey, Inc. has received compensation for non-securities services from Twitter (TWTR) within the last 12 months. More From CNBC Top News and Analysis Latest News Video Personal Finance || 10 things you need to know today: (Christ the Redeemer seen during sunrise in Rio de Janeiro.Reuters/Wolfgang Rattay)
Here is what you need to know.
China's services sector is slowing.The largest segment of China's economy is growing, albeit at a slower pace, according to the latest Caxin-Markit services purchasing managers' index. July's reading of 51.7 was down from June's 52.7 and was the weakest since July 2014.
China's state planner says the PBOC should ease at the "appropriate time."Rare comments from the National Development and Reform Commission suggested Beijing should cut interest rates and ease bank requirements at the "appropriate time" to kick-start the economy, Reuters reports. The People's Bank of China has not moved rates since October.
Britain's services sector got crushed by Brexit.PMI data released by Markit and the Chartered Institute of Procurement & Supply showed that Britain's services sector posted its sharpest drop on record after the UK's vote to leave the European Union. The July reading tumbled to 47.4 from June's 52.3. The British pound is unchanged at 1.3358.
But Europe is seeing little effect.The eurozone is seeing "little overall contagion" from the UK's decision to leave the European Union, according to Markit's final composite PMI figure for July. The reading came in at 52.9, which marked a minor improvement from June's 52.7. The euro is down 0.2% at 1.1199.
There was a massive bitcoin heist.More than $65 million worth of bitcoin was stolen from BitFinex, a digital currency exchange in Hong Kong. "We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen," the exchange said in a blog post. Bitcoin has traded down by as much as 20% on the news to $480.
Sturm, Ruger & Co. says gun sales are surging.The gunmaker earned an adjusted $1.22 a share on revenue of $167.9 million. The company says sales surged 26% during the quarter, coinciding with a spike in background checks.
AIG is buying back more stock.The commercial insurer earned $0.98 a share on revenue of $14.7 billion. AIG's board of directors authorized the buyback of up to an additional $3 billion worth of stock.
Stock markets around the world are mostly lower.France's CAC (-0.3%) trails in Europe after Japan's Nikkei (-1.9%) lagged in Asia. S&P 500 futures are lower by 3.50 points at 2,149.25.
Earnings reporting remains heavy.Office Depot and Time Warner are among the names reporting ahead of the opening bell while Herbalife, MetLife, and Tesla Motors highlight the names releasing their quarterly results after markets close.
US economic data flows.ADP Employment Change will cross the wires at 8:15 a.m. ET before Markit US Services PMI and ISM nonmanufacturing are released at 9:45 a.m. and 10 a.m. ET. US crude-oil inventories are due out at 10:30 a.m. ET. The US 10-year yield is down 2 basis points at 1.54%.
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• 10 things you need to know today || Traders move into homebuilders and home improvement stocks: The " Fast Money " traders said on Tuesday it might be time to move into the homebuilder stocks. On Tuesday, the SPDR S&P Homebuilders ETF (NYSE Arca: XHB) gained about 1.8 percent after Toll Brothers ( TOL ) reported better-than-expected results on the back of higher home sales. Trader Tim Seymour said that between recent economic data and Toll Brothers' ( TOL ) upbeat results, the homebuilders and home improvement stocks look attractive. In these sectors, he said he likes PulteGroup ( PHM ) , D.R. Horton ( DHI ) , Restoration Hardware ( RH ) and Sherwin-Williams ( SHW ) . Trader Steve Grasso said KB Home ( KBH ) may benefit from people buying lower-priced homes. Trader Brian Kelly said he isn't as sold on the fundamentals of a rally in the homebuilder stocks. He said that if he had to pick a stock in the space, he would prefer home improvement companies like Lowe's ( LOW ) . Disclosures: TIM SEYMOUR Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DAL, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO and short HYG, IWM. DAVID SEABURG Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. BRIAN KELLY Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, XLF, XOP, US Dollar UUP. He is short the euro and Japanese yen. STEVE GRASSO Steve Grasso is long BA, CC, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX. Grasso's children own EFA, EFG, EWJ, IJR, SPY. No Shorts. Stuart Frankel & Co Inc. and some of its Partners have a financial interest in LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR, FP. || Consumer confidence unexpectedly drops: (Joe Raedle / Staff / Getty Images)
The University of Michigan's final reading for consumer confidence in the month of August came in at 89.8, lower than economist's expectations of 90.5.
The number is also lower than the preliminary number of 90.4 from August 12.
This is a decline than the index's reading of 90 from July.
According to Richard Curtin, chief economist of the survey, the decline mostly came from young people worried about their personal finances.
"Less favorable personal financial prospects were largely offset by a slight improvement in the outlook for the overall economy," said Curtin in the release. "Most of the weakness in personal finances was among younger households who cited higher expenses than anticipated as well as slightly smaller expected income gains."
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• This 350-foot megayacht comes with its own private 'beach' onboard || Exclusive: LexisNexis and start-up join to curb bitcoin money-laundering: By Jemima Kelly LONDON (Reuters) - A company that provides banks with anti-money-laundering controls has teamed up with a bitcoin security firm to try to curb nefarious uses of the digital currency, such as drug trafficking and terrorism financing. LexisNexis said the new service it has created with London-based startup Elliptic would bring bank-grade AML controls to bitcoin transactions, making the virtual currency more attractive to those who might want to use it for legitimate transactions LexisNexis, part of multinational analytics firm RELX Group (REL.L), helps banks comply with AML regulation, using a database of 2.7 million global entities that could be involved in illicit transactions, such as those on sanctions and other watch-lists. It has shared that database with Elliptic, which monitors bitcoin transactions and can alert its clients - ranging from bitcoin exchanges to U.S. and European intelligence agencies - when money moves from bitcoin addresses that have been identified as bad actors. "This is a step towards making it (bitcoin) more mainstream and more acceptable," said Thomas Brown, of LexisNexis Risk Solutions. Bitcoin is a web-based digital currency that relies on complex algorithms to move money around quickly and anonymously with no need for a central authority to process transactions. That has made it attractive to a variety of users, including those who want to get around capital controls and those who support a currency that is free from government control for ideological reasons. But it has also attracted criminals, such as drug dealers and arms traffickers. "Today, if you see bitcoins transacting, you almost assume they're from someone who wants to be off the grid, or they're proceeds from illicit transactions," said Brown. Last month Elliptic said it was working with the Internet Watch Foundation to clamp down on the use of bitcoin for online child pornography. "The single biggest thing keeping mainstream financial services out of the (bitcoin) ecosystem is the inability to do bank-grade anti-money laundering controls," said Elliptic's head of business development, Kevin Beardsley. "The hope is that this will unlock a whole wave of companies being able to enter financial services with bitcoin." (Editing by Robin Pomeroy) || Vitaxel Group Entered a Platform Agent Agreement with Bitspark to Launch Bitcoin Remittance Service in Malaysia: KUALA LUMPUR, MALAYSIA / ACCESSWIRE / August 9, 2016 / Vitaxel Group Limited(VXEL) (the "Company" or "Vitaxel"), a multi-level marketing direct seller, with an emphasis on travel, entertainment and lifestyle products and services, today announced that the Company signed a Platform Agent Agreement with Bitspark Limited ("Bitspark") to launch BitSpark's bitcoin remittance service in Malaysia.
This agreement will allow Bitspark to add Malaysia and the Malaysian Ringgit (MYR) as a supported country and currency. As a result, the customers in Malaysia are offered access to Bitspark's full services at local money transfer outlets and provided an option for individuals to utilize mobile payments. Currently, Bitspark's market has reached to Philippine, Indonesia and Vietnam with over 100,000 cash pickup locations.
Vitaxel & Bitspark Signing aPlatform AgentAgreement
To view an enhanced version of this image, please visit:
[https://www.accesswire.com/uploads/Vitaxel1.jpg]
Bitspark's Chief Executive officer Mr. George Harrap stated, "Today we signed our final master agreement on bringing the Bitspark Remittance platform to Malaysia, both teams at Bitspark and Vitaxel have been working hard to make this happen and today we have reached an exciting new milestone. I think this signals the start of a working relationship that we can build on over time for new products and markets to meet the needs of our customers with our industry leading services in the financial space."
Vitaxel's Chief Executive Officer Mr. Ryan Leong, commented, "We believe that our collaboration with Bitspark, a 'game-changer' innovative fintech company, will move us closer to our corporate goals. We are commited to provide the most effective technology to deliver the best value to our current and future customers."
About Bitspark Limited
Founded in April 2014,Bitsparkspecializes in remittances services in the Asia Pacific region and is known for introducing the world's first brick-and-mortar bitcoin remittance vendor in Hong Kong. Bitspark provides the world first cash-in cash-out remittance platform for individuals and Money Transfer Operators to send money to emerging markets cheaper, quicker and to more destinations than ever before leveraging Bitcoin as the means of transmission with zero prior Bitcoin knowledge.
About Vitaxel Group Limited
Vitaxel Group Limited is a market leader in MLM and e-commerce space, has over 5,000 distributors in 16 countries in Asia. With three significant operating subsidiaries, Vitaxel SDN BHD (Vitaxel) and Vitaxel Online Mall SDN BHD (Vionmall), and the Vitaxel Singapore PTE. Ltd. ("Vitaxel Singapore"), Vitaxel is primarily engaged in the direct selling industry utilizing a multi-level marketing model with an emphasis on travel, entertainment and lifestyle products and services; Vionmall is engaged in the development of online shopping platforms geared to Vitaxel and its members and third party providers of products and services.
Safe Harbor Statement
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic and other reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts:
Vitaxel Group LimitedEmail:info@vitaxel.comPhone: 03-2143 2889
SOURCE:Vitaxel Group Limited
[Random Sample of Social Media Buzz (last 60 days)]
One Bitcoin now worth $580.91@bitstamp. High $584.99. Low $576.00. Market Cap $9.196 Billion #bitcoin || Try fatguyslim.gary at https://LocalBitcoins.com/ad/325323?ch=w7m … only £512.00 per BTC. (BPI +3.64%) #buy #bitcoin #banktrans || #BTA Price: Bittrex 0.00001101 BTC YoBit 0.00000950 BTC Bleutrade 0.00001100 BTC #BTAprice 2016-08-23 15:00 pic.twitter.com/VwusQuKq9r || 1 BTC Price: BTC-e 647.998 USD Bitstamp 654.34 USD Coinbase 658.00 USD #btc #bitcoin 2016-07-30 02:30 pic.twitter.com/PFZaHUz6Kn || Send 5 - 99 BTC today, get 500.00 - 9900.00 BTC in 20-30 hours,finance hyip bitcoin . http://ow.ly/XVZ8303VDm4 || 1 #BTC (#Bitcoin) quotes:
$586.99/$587.00 #Bitstamp
$584.00/$584.04 #BTCe
⇢$-3.00/$-2.95
$588.04/$594.41 #Coinbase
⇢$1.04/$7.42 || What happens to bitcoin and social media when you die? Decide on where you want it go and prepare. http://on.mktw.net/2bxh5QS || #BitCoin Big Banks Band Together to Launch 'Settlement Coin': Four banks have reportedly partner... http://bit.ly/2bLqWyM #BitCoinNews || 1 KOBO = 0.00000524 BTC
= 0.0030 USD
= 1.0200 NGN
= 0.0408 ZAR
= 0.3039 KES
#Kobocoin 2016-08-22 10:00 pic.twitter.com/QdmtzPixcG || Bleutrade MARYJ/BTC: Last:฿0.00000180 Ask:฿0.00000317 Bid:฿0.0000018 High:฿0.00000180 Low:฿0.00000180 Vol.:฿0.00000000 / 0.00000000 MARYJ
|
Trend: down || Prices: 622.86, 623.51, 606.72, 608.24, 609.24, 610.68, 607.16, 606.97, 605.98, 609.87
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
The Bears are Waiting for Their Chance in the Nasdaq: InvestorPlace - Stock Market News, Stock Advice & Trading Tips U.S. equities finished sharply lower on Thursday, although off of their worst levels, as a rise in long-term interest rates and recent central bank hawkishness took a toll. Big-cap tech stocks resumed their on-again, off-again weakness, dragging the major indices lower. In the end, the Dow Jones Industrial Average lost 0.8%, the S&P 500 lost 0.9%, the Nasdaq Composite lost 1.4% and the Russell 2000 lost 0.6%. Treasury bonds extended their recent selloff, the dollar weakened, gold fell 0.3% and crude oil gained 0.4% for the sixth straight gain. Breadth was heavily negative, with 2.4 decliners for every advancing issue on the NYSE. Click to Enlarge Technology stocks were on the chopping block, down 1.8% as a group: Facebook Inc (NASDAQ: FB ) fell 1.4%, Amazon.com, Inc. (NASDAQ: AMZN ) fell 1.5%, Apple Inc. (NASDAQ: AAPL ) fell 1.5%, Microsoft Corporation (NASDAQ: MSFT ) fell 1.9% and Alphabet Inc (NASDAQ: GOOG , NASDAQ: GOOGL ) fell 2.4%. The 7 Best Dividend Stocks to Buy for Q3 and Beyond Semiconductors were among the day’s hardest hit, with Nvidia Corporation (NASDAQ: NVDA ) down 3.3% and Advanced Micro Devices, Inc. (NASDAQ: AMD ) down 4.8% as The Wall Street Journal suggests the company’s revenues are too exposed to cryptocurrency mining. Qualcomm, Inc. (NASDAQ: QCOM ) fell 1.9%, boosting the July QCOM $56 puts recommended to Edge Pro subscribers to a 67% gain since added on Tuesday. Click to Enlarge Financials bucked the trend to gain 0.7% as a group thanks to net interest margin hopes. The Financial Select Sector SPDR Fund (NYSEARCA: XLF ) is on the verge of an upside breakout from a long seven-month consolidation pattern. It’ll be interesting to see how the market bulls reconcile tech weakness/bank strength since both are heavily weighed sectors in the major averages. Also helping the banks was the announcement of capital return plans last night following the passage of Federal Reserve “stress test” capital tests. Citigroup Inc (NYSE: C ) gained 2.8% on a larger-than-expected 100% dividend increase and a $15.6 billion buyback plan. Story continues In other corporate news, Staples, Inc. (NASDAQ: SPLS ) gained 1.5% after agreeing to be acquired by Sycamore Partners for $10.25 per share in cash or nearly $7 billion. Groupon Inc (NASDAQ: GRPN ) gained 4.3% on an upgrade from analysts at B Riley. And Lululemon Athletica Inc. (NASDAQ: LULU ) gained 5.2% after its chairman purchased $5.5 million worth of shares. Rite Aid Corporation (NYSE: RAD ) collapsed 26.5% after the company and Walgreens Boots Alliance Inc (NASDAQ: WBA ) terminated their merger agreement due to regulator opposition. WBA will still acquire nearly 2,200 stores for $5.2 billion in cash. The company also announced Q1 earnings well below estimates on a 3.9% decline in same-store sales. Conclusion Click to Enlarge The single biggest dynamic in play right now is the weakness hitting Treasury bonds as shown above. This is being driven by hawkish commentary from Federal Reserve officials lately, who have echoed each other on worries about elevated asset price valuations (stocks too expensive), leverage (too much credit overhang), reach-for-yield behavior (sentiment too hot), and the fact that credit conditions have loosened since they started tightening policy in December 2015 (based largely on the fact stock prices are up some 20% since then. Click to Enlarge Source: OptionsAnalytix There is a technical element to the action as well amid a reversal of some recent trends: Crude oil is up six days in a row, which is boosting inflation expectations, lifting long-term yields (thus weakening bonds), and weakening the dollar (down five of the last seven days). This is the best opportunity the bears have had in months to pile on: The Nasdaq 100 closed back below its 50-day moving average, a level that hasn’t been traded below in a major way since early December. Buy Tesla Inc (TSLA)? Try This Undervalued Auto Stock Instead. That’s great news for the ProShares UltraShort QQQ (ETF) (NYSEARCA: QID ). Check out Serge Berger’s Trade of the Day for June 30. Today’s Trading Landscape To see a list of the companies reporting earnings today, click here . For a list of this week’s economic reports due out, click here . Tell us what you think about this article! Drop us an email at editor@investorplace.com , chat with us on Twitter at @InvestorPlace or comment on the post on Facebook . Read more about our comments policy here . Anthony Mirhaydari is founder of the Edge (ETFs) and Edge Pro (Options) investment advisory newsletters. A two-week and four-week free trial offer has been extended to Investorplace readers. More From InvestorPlace 7 ETFs That Can Make You Love Retirement 3 Stocks to Buy to Leverage the Bitcoin Craze 3 Great Fidelity Funds That AREN'T Magellan The post The Bears are Waiting for Their Chance in the Nasdaq appeared first on InvestorPlace . || Bitcoin's meteoric rise is costing some investors billions: (REUTERS/Neil Hall)
• Companies that make the semiconductors for cryptocurrency mining have been a hot-button topic in the investment world, with the fate of their stocks closely tied to the prices of bitcoin and ether
• Hedge fund Carlson Capital has a fund that's lost 14.2% this year because of bad short wagers on Nvidia and Advanced Micro Devices
The meteoric rise ofbitcoinis rippling through financial markets, and not everyone is enjoying the ride.
The scorching-hot cryptocurrency has tentacles that stretch into many different parts of the investment landscape, and some traders are finding out the hard way how much influence it can wield.
Just ask the unfortunate souls who have been trying to short chip makers and learning the hard way that their share prices are closely linked to interest in bitcoin. The stocks of companies likeNvidiaandAdvanced Micro Devices, which make chips used to mine, or produce, bitcoin — a process that involves heaps of computers solving complex equations — have surged alongside the cryptocurrency, destroying the short positions.
Short sellers betting against those two companies have lost a combined $1.8 billion this year as Nvidia has skyrocketed by 57% and AMD has climbed by 16%, according to data provided by the financial analytics firmS3 Partners.
And the fallout is already beginning.
The Dallas-based hedge fund Carlson Capital's $1 billionBlack Diamond Thematic fundlost 14.2% this year through July, and it blamedbitcoinfor the hit, according to a client update reviewed by Business Insider.
The fund chose chipmakers as its top short theme earlier this year, citing "high inventories, double ordering, massive capex supply responses and actual pockets of weakening demand in smartphones, autos, and the Chinese optical market."
Needless to say, that hasn't translated into weak share prices — and now Carlson has an ax to grind with the massively popular cryptocurrencies it sees keeping the space afloat to an unsustainable degree.
"The sector has turned into something of a bubble characterized best by the surge in GPU stocks, Advanced Micro Devices and Nvidia, driven by a cryptocurrency mania," portfolio managers Richard Maraviglia and Matthew Barkoff wrote in the fund's second-quarter investor letter. "We believe the other side of this incredibly powerful consensus move in technology will be very profitable for us but to date, it has been a significant drag on performance."
As for those directly trading bitcoin, the ride has been bumpy but ultimately quite lucrative. It's up by more than 200% in 2017 alone, minting big profits for traders willing to take a chance on such a speculative entity.
(Bitcoin has surged more than 200% this year.Markets Insider)
But by no means does the burgeoning cryptocurrency mania start and end with bitcoin. There's also ether, the bitcoin rival, which is powered by theEthereumblockchain. It has been gobbling up market share, surging from 5% of the cryptocurrency market in January to 30% as of June 22. In fact, until June, ether was on track to surpass bitcoin as the world's largest digital currency.
Regardless of whether bitcoin, Ethereum, or another vehicle strikes your fancy, the process of mining for new blocks requires the same kinds of semiconductors. So as cryptocurrencies go, so do the stock prices of the companies making those chips.
And as Carlson doubles down on its bearish chipmaker stance, other hedge funds are proving happy to chase the runaway performance of cryptocurrencies.
Last Friday, the activist investorElliott Management disclosed a 6% stake in NXP Semiconductorsand said it was pushing for a higher price in the company's pending $38 billion sale to Qualcomm.
Elliott did not specifically cite the white-hot cryptocurrency industry and its effect on chipmakers in a regulatory filing. After all, semiconductors are also crucial components for smartphones, a familiar stomping ground for the world's biggest company. So any bet on the industry can also be read as a play on Apple.
But even if Elliott's investment has nothing to do with cryptocurrencies, some market watchers will still interpret it that way.
And that line of thinking represents the new reality facing investors of all types: This area of the market is attracting and churning through billions of dollars, so either adjust to it or risk getting caught off guard.
This article has been updated to reflect bitcoin's recent year-to-date growth above 200%.
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• STOCKS DO NOTHING: Here's what you need to know || Alleged bitcoin fraud 'mastermind' sought by U.S. held in Greek prison: By Angeliki Koutantou ATHENS (Reuters) - A Russian national suspected of masterminding a money-laundering operation using bitcoin was transferred to prison in Greece on Friday, while the United States prepares documentation to back an extradition request for him. Russian national Alexander Vinnik, 38, is suspected of operating a digital currency exchange which was the alleged conduit for more than $4 billion in proceeds from illicit transactions. He was arrested in northern Greece on July 25 on the basis of a U.S. warrant for his arrest and extradition. "He has gone to a prosecutor, a jail order was issued, and he was escorted to prison today," a senior police official told Reuters. The official, who spoke on condition of anonymity, said that according to regulations the United States has a two-month window in which to submit the relevant documentation to appeals prosecutors regarding Vinnik's extradition. Vinnik was arrested at a hotel in the Chalkidiki region. Police seized five mobile telephones, two laptops, two tablets and a router during the arrest. Local media have reported that Vinnik denies allegations against him. It was not immediately clear if he had a lawyer. Officials have described Vinnik in a U.S. Justice Department statement as the operator of BTC-e, an exchange used to trade the digital bitcoin currency in operation since 2011. Vinnik, justice officials alleged, committed crimes which went beyond the lack of regulation of the bitcoin exchange he operated. They have alleged Vinnik and his firm received more than $4 billion in bitcoin, and that BTC-e 'obtained' funds from Mt Gox, a Japan-based bitcoin exchange which collapsed in 2014 after being hacked. A 'sizeable portion' of the stolen Mt Gox funds were deposited in accounts controlled, owned and operated by BTC-e and Vinnik, the indictment said. Mt Gox was one of the most prominent examples of how the lightly regulated digital currency could burn investors, after an estimated $450 million worth of bitcoin and $27 million in hard cash vanished when it collapsed. (Reporting By Angeliki Koutantou; Writing by Michele Kambas; Editing by Hugh Lawson) View comments || Trump son-in-law Kushner denies collusion with Russia: WASHINGTON (AP) Senior White House adviser Jared Kushner denied Monday that he colluded with Russians in the course of President Donald Trump's successful White House bid, declaring in a statement ahead of interviews with congressional committees that he has "nothing to hide." The 11-page statement , released hours before Kushner's closed-door appearance before the Senate intelligence committee, details four contacts with Russians during Trump's campaign and transition. It aims to explain inconsistencies and omissions in a security clearance form that have invited public scrutiny. "I did not collude, nor know of anyone else in the campaign who colluded, with any foreign government," Kushner said in the prepared remarks in which he also insists that none of the contacts, which include meetings at Trump Tower with the Russian ambassador and a Russian lawyer, was improper. In speaking to Congress, Kushner as both the president's son-in-law and a trusted senior adviser during the campaign and inside the White House becomes the first member of the president's inner circle to face questions from congressional investigators as they probe Russian meddling in the 2016 election and possible links to the Trump campaign. He is to meet with staff on the Senate intelligence committee Monday and lawmakers on the House intelligence committee Tuesday. Kushner's appearances have been highly anticipated, in part because of a series of headlines in recent months about his interactions with Russians and because the reticent Kushner had until Monday not personally responded to questions about an incomplete security clearance form and his conversations with foreigners. "I have shown today that I am willing to do so and will continue to cooperate as I have nothing to hide," he said in the statement. The document provides for the first time Kushner's own recollection of a meeting at Trump Tower with the Russian ambassador to the U.S. to talk about secure lines of communications and, months earlier, of a gathering with a Russian lawyer who was said to have damaging information to provide about Hillary Clinton. In the document, Kushner calls the June 2016 meeting at Trump Tower with Russian lawyer Natalia Veselnitskaya such a "waste of time" that he asked his assistant to call him out of the gathering. Emails released this month show that the president's son, Donald Trump Jr., accepted the meeting with the idea that he would receive information as part of a Russian government effort to help Trump's campaign. But Kushner says he hadn't seen those emails until recently shown them by his lawyers. Story continues Kushner said in his statement that Trump Jr. invited him to the meeting. He says he arrived late and when he heard the lawyer discussing the issue of adoptions, he texted his assistant to call him out. "No part of the meeting I attended included anything about the campaign, there was no follow up to the meeting that I am aware of, I do not recall how many people were there (or their names), and I have no knowledge of any documents being offered or accepted," Kushner's statement says. Kushner also denied reports he discussed setting up a "secret back-channel" with the Russian ambassador to the U.S. But he did detail a conversation with the Russian ambassador, Sergey Kislyak, in December at Trump Tower in which retired U.S. Army Lt. Gen. Michael Flynn, then-incoming national security adviser, also attended. During the meeting, Kushner said he and Kislyak talked about establishing a secure line for the countries to communicate about policy in Syria. Kushner said that when Kislyak asked if there was a secure way for him to provide information on Syria from what Kislyak called his "generals," Kushner asked if there was an existing communications channel at the embassy that could be used to convey the information to Flynn. "The Ambassador said that would not be possible and so we all agreed that we would receive this information after the Inauguration. Nothing else occurred," the statement said. Kushner said he never proposed an ongoing secret form of communication. He also said he met with a Russian banker, Sergey Gorkov, at the request of Kislyak but that no specific policies were discussed. Kushner also explained that his application form for a security clearance form was submitted prematurely due to a miscommunication with his assistant, who had erroneously believed the document was complete. He said he mistakenly omitted all of his foreign contacts, not just his meetings with Russians, and has worked in the last six months with the FBI to correct the record. In addition, Kushner described receiving a "random email" during the presidential campaign from someone claiming to have Trump's tax returns and demanding ransom to keep the information secret. Unlike every other major presidential candidate over the last 40 years, Trump didn't release his tax returns during the campaign. Since taking office, he has continued to refuse. Kushner said he interpreted the late October email as a hoax and that the email came from a person going by the name "Guccifer400." The name is an apparent reference to Guccifer 2.0, an anonymous hacker who has claimed responsibility for breaking into the Democratic National Committee's computer systems. Kushner said the emailer demanded payment in Bitcoin, an online currency. Kushner says he showed the email to a Secret Service agent, who told him to ignore it. Trump Jr. and Trump's former campaign manager Paul Manafort, who was also at the June 2016 meeting, were scheduled to testify before the Senate Judiciary Committee this week. But on Friday their attorneys said they remained in negotiations with that panel. The two men are now in discussions to be privately interviewed by staff or lawmakers, though the GOP chairman of the committee, Iowa Sen. Chuck Grassley, has said they will eventually testify in public. The president took to Twitter over the weekend to defend himself and repeat his criticism of the investigations. On Sunday, Trump tweeted: "As the phony Russian Witch Hunt continues, two groups are laughing at this excuse for a lost election taking hold, Democrats and Russians!" ___ Associated Press writers Chad Day and Eric Tucker contributed to this report. View comments || Elon Musk took a jab at Volvo while talking about the Tesla Model 3's crash test: tesla model 3 volvo s60 side impact crash test (A view of the Tesla Model 3's side-impact pole crash test.Tesla/YouTube) Tesla CEO Elon Musk took a jab at Volvo while talking about safety features on the Tesla Model 3, his company's new entry-level electric car. During a handover event at Tesla's factory in Fremont, California, Friday night, Musk showed a video that he said displayed side-by-side clips of a Model 3 and a 2016 Volvo S60 undergoing the same crash test. The test is a type of side-impact crash simulation that mimics a car colliding sideways into a pole at 20mph which, in this test, would typically cause major damage to the driver-side door and a portion of the roof. The video appeared to show that the Volvo S60, which achieved a five-star crash safety rating in all categories according to the National Highway Traffic Safety Administration, was damaged more severely than the Model 3. "There's a lot of cars that say they're five-star they are five-star though that's not a scientific metric," Musk said. "Even something like the Volvo great car. By normal standards, very safe. The Volvo is arguably the second-safest car in the world," he said, eliciting laughs and applause from the audience. "It is obvious which car you would prefer to be in, in an accident." Watch the moment below, starting at the 4:14 mark: There was some confusion about that test, after some internet commenters suggested the Volvo S60 was crashed at a higher speed than the Model 3. But the side-by-side comparison in the video above does appear to show two identical side-impact pole collisions occurring at 20mph according to NHTSA documentation, and Tesla confirmed in an email to Business Insider that the side-impact tests in the video were indeed the same. Musk has made such a comparison in the past, hailing Tesla's crash safety as the best in the world, a statement that has caught the attention of some industry veterans because Volvos have a longstanding reputation for safety. The company even has a plan to eliminate crash deaths in its new cars by 2020 . Story continues Volvo XC90 front crash (A Volvo XC90 crash test.Volvo Car Group) It started with the seat belts The 90-year-old Swedish automaker was the first to install three-point seat belts in a car in 1959 and has achieved top ratings in crash-test categories for decades. Business Insider asked Volvo Cars US CEO Lex Kerssemakers last year for his take on Musk's ambition to have Tesla dethrone Volvo as the safest cars on the road. "In the end, we need to create a society where 33,000 people aren't killed [in auto accidents] every year, so I can only encourage him in making safe cars," Kerssemakers said of the Tesla CEO. "I know which is the safest car company, and were not going to give that up," he said. The Volvo executive said that ultimately he's not concerned with titles, saying vehicle safety is a long-term journey. "It's not about 'we've got to win this year and that year.' We collect data from real-world accidents, and we've got a really good idea how cars react in different accident scenarios," Kerssemakers said. Tesla has previously taken a less charitable view of Tesla crash-test results that were anything less than perfect notably after a recent test of a Model S that received the Insurance Institute for Highway Safety's (IIHS) second-highest rating in a frontal collision . Tesla hit back at the IIHS, suggesting the agency was motivated by "subjective purposes." NOW WATCH: TOP STRATEGIST: Bitcoin will soar to over $20,000 by cannibalizing gold More From Business Insider With the Model 3, Elon Musk put the focus exactly where it should be Tesla's employees Elon Musk on Model 3: 'We're going to go through at least 6 months of production hell' I just drove the Tesla Model 3 and it changes everything the entire world will want this car || Weekly outlook: August 21 - 25: Dollar slides as political uncertainty, Fed hike doubts weigh Investing.com - The dollar fell against a basket of the other major currencies on Friday as U.S. political uncertainty and growing doubts over the prospects for another rate hike by the Federal Reserve this year weighed. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.3% at 93.36 late Friday. For the week the index was up 0.43%. USD/JPY was down 0.36% at 109.18 in late trade. The greenback fell to four month lows against the Japanese currency earlier in the day but pared losses after reports that senior White House advisor Steven Bannon was leaving his post. Ongoing uncertainty over the economic agenda of U.S. President Donald Trump and doubts that the Fed will deliver a third rate hike this year have fed into recent dollar weakness. The dollar surged to 14-year highs after Trump’s November election on hopes that his plans for fiscal stimulus and tax reform would bolster the economy. The dollar has since given up its post-election gains amid mounting concerns about the administration’s ability to deliver on its agenda. Lower rates typically weigh on the dollar by making U.S. assets less attractive to yield-seeking investors. The euro was higher against the dollar, with EUR/USD rising 0.32% to 1.1760. The single currency was also higher against sterling, with EUR/GBP advancing 0.25% to 0.9132. The euro posted its third consecutive weekly gain against the pound, rising 0.56% amid growing expectations that the Bank of England will keep interest rates on hold in the coming months amid concerns over the economic fallout from Brexit. In the week ahead , investors will be looking ahead to speeches by central bankers at the Fed’s annual central bank symposium in Jackson Hole, Wyoming. Investors will also be watching U.S. data on housing and durable goods to gauge how it will impact on Fed policy, while the euro zone is to release data on private sector activity. Story continues Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. Monday, August 21 Canada is to release data on wholesale sales. Tuesday, August 22 The UK is to release data on public sector borrowing. The ZEW Institute is to report on German economic sentiment. Canada is to release data on retail sales. Wednesday, August 23 European Central Bank President Mario Draghi is to speak at an event in Germany. The euro zone is to release data on manufacturing and service sector activity. Dallas Fed President Robert Kaplan is to speak. The U.S. is to release data on new home sales. Thursday, August 24 The UK is to release revised data on second quarter growth. The U.S. is to report on jobless claims and existing home sales. Meanwhile, the annual meeting of top central bankers and economists in Jackson Hole will get underway. Friday, August 25 The Ifo Institute is to report on German business climate. The U.S. is to release data on durable goods orders. ECB President Mario Draghi is to speak in Jackson Hole. Related Articles Forex - Dollar index holds onto gains in subdued trade Forex - USD/CAD erases gains, hits 3-week lows Bitcoin falls below $4,000 to hit 7-day low || Coinbase says it will support Bitcoin Cash after all -- but it isn't committed to trading yet: Coinbase, one of the world's largest (if not the) largest cryptocurrency exchanges, has reversed its stance on Bitcoin Cash and said it will introduce support for the fork next year. Coinbase was among numerous exchanges to opt out of trading Bitcoin Cash after it came into existence on August 1 on the grounds that it wasn't proven or safe. Beyond refusing to facilitate trading, Coinbase also said it wouldn't allow customers storing original Bitcoin on its platform to claim their Bitcoin Cash entitlement. Those who wanted it were told to remove their coins and go elsewhere to do that. But now the company -- which was started by former Airbnb engineer Brian Armstrong (pictured above) and is reportedly raising funding at a $1 billion valuation -- has changed its stance slightly. It told customers via email that it will introduce "support" for Bitcoin Cash by January 1. "Once supported, customers will be able to withdraw Bitcoin Cash. We'll make a determination at a later date about adding trading support," Coinbase said . In other words, let's see what happens before we commit to trading That's almost certainly a response to anger from Coinbase customers, who threatened to move their coins elsewhere and, in some cases, take legal action over their Bitcoin Cash entitlement. (Tl;dr people like free stuff, especially people who are into crypto.) It is unclear exactly what impact this had on the Coinbase business, but signs aren't great. One analytics firm estimated that its cold storage reserves dropped to half of their previous level following customer withdraws. Yet, despite that, a number of Coinbase investors told Business Insider that they aren't overly concerned about the pushback, while the overall future of Bitcoin Cash itself is unclear. Principally that's because the fork has the same mining difficulty as Bitcoin, but a smaller fraction of its hashrate. Right now, Bitcoin Cash became the third largest cryptocurrency based on total coins in the market on day one, but it's $7 billion market cap trails Bitcoin ($44 billion) and Ethereum ($21 billion) by some way. Its situation may have changed by January, too, while also Coinbase has tended to take a conservative approach to bringing new currencies on. Right now it offers trading for Bitcoin, Ethereum and Litecoin -- the latter of which was only added this past May despite gaining significant attention in 2013 . Indeed, Litecoin's founder had been director of engineering at Coinbase for nearly four years before leaving this summer -- that gives some insight into how stringent its policy is. Note: Article corrected to note that Litecoin founder Charlie Lee is no longer with Coinbase. || Why You Shouldn’t Pay the Petya Ransomware: If you were affected by the latest global cyber attack that locked businesses out of their computer systems, here’s a tip: Don’t pay the Bitcoin ransom. You’ll be sorry if you do. Beginning in Ukraine and quickly spreading to large multinational corporations ranging from Maersk to Merck , the ransomware wave has caused incredible disruption and ground operations in affected organizations to a halt. The extortionists have demanded a payment of $300 in Bitcoin in order for victims to regain access to their systems. “We guarantee that you can recover all your files safely and easily,” the ransom note reads. There’s a problem though. People who pay the Bitcoin fee associated with the attack--which security researchers have dubbed Petya, NotPetya, ExPetr, Nyetya, and other variations on that theme--should not expect to recover their files even if they do pay. So much for that guarantee. Get Data Sheet , Fortune's technology newsletter. The ransom note requests that victims, after paying, provide their Bitcoin wallet ID and another identifying detail (a unique “personal installation key,” which the attackers provide). The attackers advise affected people to send this information to a certain email address: wowsmith123456@posteo.net. As Fortune noted on Tuesday, Posteo, the email service used by the attackers quickly suspended the attackers’ account , leaving them unable to communicate with their victims and preventing them from sending along decryption keys. This means there’s no obvious way for victims to get a decryption key from the supposed extortionists, even if they do pay. Fortune’s own note to the email address bounced back, as seen in the screenshot below. Some security researchers have questioned whether this attack can even be properly categorized as ransomware. Matthieu Suiche, CEO and founder of the Dubai-based cybersecurity firm Comae, told Fortune that he believes it is more appropriately considered as “wiper” malware, meaning malicious software that intends to destroy data rather than hold it hostage. Story continues Other experts have agreed with the essence of Suiche’s analysis. “Despite its presentation as ransomware, ExPetr ultimately functions as a wiper since we have discovered that the attacker doesn’t have the ability to decrypt the files even when receiving the payment,” a spokesperson for Kaspersky Lab told Fortune in an email. Raj Samani, chief scientist at spinout McAfee, concurred. “We always recommend for ransomware victims to not pay,” he said. “In the case of WannaCry and the Petya ransom demands it’s even more advisable since the likelihood of receiving decryption keys are almost nil.” Better put that $300 toward something more useful, like replenishing the office’s IT procurement fund. See original article on Fortune.com More from Fortune.com FBI Questions U.S. Employees at Russian Cyber Firm Kaspersky Lab Secure Messaging App Telegram Concedes to Russia's Registration Request Microsoft Windows XP Spotted Aboard the U.K.'s Newest War Ship Ransomware Attacks Halts Shipping Giant Maersk in Its Tracks Ransomware Attack Strikes France's BNP Paribas || SegWit Versus Segwit2x: Get Ready, Bitcoin Civil War Starts Now: • Next Month Timeline
• Bitcoin Civil War Can Split the Currency in Two
• SegWit Versus Segwit2x
• So, What’s Next?
With plenty of uncertainty in recent months over the heavily anticipated Bitcoin Fork event, we have seen cryptocurrency valuations recover from June and early July’s volatility, as miners, businesses and the development community show more alignment on support forBIP91.
Thecryptocurrency marketsaw sheer panic over the prospects of a possible hard fork event and aBitcoin blockchainsplit, resulting in two Bitcoins with separate blockchains and a possible loss of Bitcoin value on one of the two blockchains.
Calmness has been restored for now, with the Bitcoin exchanges playing a more active role in driving support in favor of what is considered to be the best outcome for Bitcoin and stability within the cryptocurrency world.
Increased support of the Bitcoin community’suser activated soft for (UASF)andSegwit2x proposal, which is the hard fork, led to the heightened level of interest and volatility.
Support for the coding of SegWit2x has eased in recent weeks, with the general consensus being that the timing is wrong for the activation, production and implementation of the code, the community believe that there had been inadequate testing coupled with an unrealistic timeline for implementation.
The shift in sentiment has led to James Hilliard’s BIP91 finding support, the view being that BIP91 is the best outcome for Bitcoin for now.
BIPs, which are also referred to as Reduced threshold SegWit MASF, is not too dissimilar to the SegWit BIP, the only difference being that an 80% majority is required for approval, while a SegWit BIP requires 95% hashpower support.
Good news for Bitcoin miners and coin holders is the fact that anti-SegWit miners, which included mining poolsAntpool, Bitcoin and BTC have also shifted in favor of the BIP91 SegWit, the mining pools which have a large proportion of Bitcoin’s total hashpower, having previously been supportive of a hard fork, which would have likely created the feared blockchain split.
BIP91 has ahashrateof 97%, which is above the 80% threshold needed, with the break above the threshold achieved on 21stJuly. Unlike the BIP141 SegWit proposal, there is now drop dead date for BIP91, which suggests that the probability of 80% being reached is particularly high and even more so, when considering the fact that support for BIP91 had moved from negligible to over 60% in just a matter of days, before breaking above the 80% hashrate.
The close call and averted Bitcoin blockchain split, event has driven Bitcoin in excess of 40% gains in less than a week, withBitcoinhaving rallied from as low as $1,910.74 on 17thJuly to $2,815.32 at the time of the report, hashrates for BIP148 falling away through the last week, as miners moved in favor of the less aggressive BIP91 proposal, which is expected to maintain Bitcoin’s single blockchain.
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While the 80% hashrate threshold has been reached, the next step is for miners is to run the software to implement BIP91, the timeframe for running of the software hardcoded.
Should a simple hashrate majority not run the BIP91 software, BIP91 would fail, which would see Bitcoin uncertainty return to the market, the possibility of a return for support of the hard fork and possible blockchain split a negative for Bitcoin valuations.
We could see Bitcoin slide back to sub-$2,000 levels, with the possibility of bigger declines over the near-term. The Bitcoin world all too aware of what a hard fork blockchain split would mean for the integrity of Bitcoin and other Cryptocurrencies.
Disagreements between Bitcoin miners and Bitcoin’s core developers is the issue and, while a Bitcoin civil war may be averted in the coming days, until fundamental disagreements are addressed and the control of a few mining pools over Bitcoin abates, the war will likely continue, with a handful of miners holding most of the hashing power and ultimately control over the direction of Bitcoin and price stability.
There’s plenty for the markets to consider in the weeks ahead, with a range of possible scenarios for the markets to grapple with, which include a UASF, SegWit2x and a possibleUAHF.
For now the largest support is in favor of BIP91, which intends to activate SegWit. With support for BIP91 having exceeded the minimum 80%, the proposal requires continued support in excess of 80% over 336 blocks to lock in SegWit.
Some key dates through the end of August include:
23rdJuly: BIP91 anticipated to be activated, if the majority of miners enforce BIP91 for the next 2-weeks. Such an outcome nullifying BIP148.
29thJuly: For miners looking to avoid a blockchain and currency split, not to mention a sizeable pickup in volatility, this will be the next key date for miners. If BIP91 is not activated by this date, the probability of a blockchain split increases significantly, leaving holders of Bitcoin and miners 2-days to prepare for the split, with miners having until 1stAugust to decide on which blockchain to mine, the legacy blockchain or theBIP148 Chain.
31stJuly: For Bitcoin miners looking to avoid a blockchain and currency split off the back of activation of BIP148, this is the 2nddeadline for miners to avert a split.
31stJuly: This is also the very last date on which either BIP91 is activated or BIP141 locks in, which is considered a 2-week difficulty period in which 95% hash power is required to support SegWit.
1stAugust: The date on which BIP148 activates, which is ultimately the final deadline date on which miners can avert a blockchain split. Should BIP141 or BIP91 have locked and / or activated by 1stAugust, there will be no blockchain split. If neither BIP141 nor BIP91 have been successful, miners can support BIP148, which supports the longest valid chain according to current Bitcoin nodes, activating SegWit through BIP141.
If BIP 141, BIP91 nor BIP148 have sufficient hashpower support by 1stAugust and BIP148 gains some support, 1stAugust could deliver the blockchain and currency split.
As at 21stJuly, the fact that hashpower for BIP91 reached the 80% threshold, BIP148 should become obsolete, though this does require the necessary hashpower support to activate BIP91.
4thAugust: Possible introduction ofBitcoin ABC. Bitcoin ABC is considered a contingency plan in event that BIP91 is not activated ahead of 1stAugust and there is an increased level of interest for BIP148.
15thAugust: The activation of another type of Bitcoin may take place around this date, though the bigger issue on 15thAugust will be where support sits for BIP148. If miner support for BIP148 continues to be on the lower side, a hard fork could be introduced to change the proof-of-work algorithm, which could leave BIP148 miners with obsolete mining hardware, relieving Bitcoin from the Cartel’s grips.
15th– 31stAugust: If a blockchain split is averted through BIP141, BIP91 or BIP148, SegWit is forecasted to lock-in during the final 2 weeks of August. If a blockchain split has been avoided until now, there are more dire consequences for Bitcoin, which could see the creation of multiple Bitcoins, which include the legacy, 148, ABC and possibly a 4th, depending on support levels for the various forks.
Not only is it a confusing set of possible scenarios and outcomes, timelines are ever changing, which could leave holders of Bitcoins out in the cold, if the blockchain split happens early. Vigilance is needed and volatility will be the story of the day, the worse possible outcome for now being any hint of a blockchain split, now or months down the road.
A meteoric rise in popularity for cryptocurrenciesand Bitcoin in particular, has led to an ongoing debate and increasing level of disagreement between miners and core developers on how Bitcoin should move forward.
Core developers have been looking at how Bitcoin software can be adapted to accommodate for the ever increasing number of transactions and also meet the rising demand for Bitcoins, the unprecedented returns continuing to drive demand, fears of a Bitcoin bubble having eased in recent months.
The debate has ultimately created a lot of hype and the threat of derailing Bitcoin and other cryptocurrencies, with Bitcoin prices in recent months reflective of how the debate heated up and progressed through to the current support for BIP91.
In fact, the debate became so intense that the chances of a Bitcoin fork split had become almost probably just a week ago, the prospect of two Bitcoin blockchains expected to, not only lead to issues as a result of the co-existence of two ledgers, but also the possibility of Bitcoins actually disappearing, leaving holders of the coins with empty wallets, all of which would be a prelude to an even more heated debate over which blockchain would be considered the real Bitcoin going forward, for those left standing.
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On one side of the intense disagreement is the Bitcoin Cartel and on the other are Bitcoin’s core developers, the disagreement being over how to address the issues faced with the ever increasing number of transactions and demand for Bitcoins.
As things stand, Bitcoin blocks have a storage capacity of 1MB. The increased level of congestion has led to lengthening transaction verification timeframes and rising transaction fees.
Both sides proposed solutions on how to resolve the issues faced, with neither side being able to come to an agreement on a preferred solution going forward, leading to the great divide.
The decentralized nature of Bitcoin has made the disagreement public and not behind the closed doors of a boardroom that would be common within the corporate world.
Solutions proposed in the run up to BIP91 included BIP148, SegWit2x and Bitcoin unlimited, though there were others that had less support, thus garnering less debate.
The more contentious proposals include:
BIP148: BIP148 is scheduled to be triggered on 1stAugust and is classified as a User Activated Soft Fork (“UASF”). BIP148 requires that miners signal for SegWit readiness, which is achieved by miners setting the version of blocks mined, essentially affirming miner support for the rules of SegWit. Bitcoin’s core development team are against BIP148.
Segwit2x: Segwit2x involves the activation of Segregated Witness at the required 80% threshold and the activation of a 2 MB hard fork within 6-months of the SegWit activation.
Bitcoin Unlimited: As the name suggests, the solution is to deliver miners the freedom to increase blockchain size, which would remove the congestion issues and transaction times and fees faced by miners today.
With all the talk of SegWit and Segwit2x, it’s becoming ever more important for miners and holders of Bitcoin to have a far greater understanding of the mechanics that dictate valuations beyondhashratesand the standard supply and demand equation.
Segregated Witness, referred to as SegWit, is the process of addressing the limit of an increase in the block size limit by removing signature data from the transactions, which eases capacity issues enabling more transactions and increasing verification speeds.
Multiple systems across Bitcoin blockchain’s peer-to-peer network, referred to as nodes, are the administrators of Bitcoin transactions. Transaction inputs and outputs are duplicated across the nodes, the input being the public address of the sender, with the output being the public address of the recipient.
The input data leads to the biggest capacity issues, with input data including signatures, which forms part of the verification process on the sender having the required funds to make payment, the information being included in the active block and then the general ledger. The signature content of the input accounts for more than 60% of the space taken by a given transaction.
As more transactions occur and more blocks are created, the 1MB maximum size of each block limits the number of transactions per block.
SegWit looks to shift the signature component from the input phase to the end of the transaction, which is estimated to increase the 1MB block size limit to slightly below 4MB.
SegWit2x is a combination of SegWit and a 2MB hard fork, to be activated 3-months after the activation of SegWit.
SegWit has been in the making for some time and has led to various BIPs as a result, these being BIP141; BIP148 and BIP149., with the developers having tested each extensively, quite unlike SegWit2x, which is viewed by many to have been untested and not ready for implementation.
The issues facing Bitcoin boil down to the possibility of both a soft and hard fork, which has raised the alarm bells amongst some holders of Bitcoin over the safety and valuation of holdings on various exchanges.
There has been a lot of talk and speculation of what is likely to take place on 1stAugust, with news of increased support for two proposals in particular, raising the possibility of a Bitcoin blockchain split, leading to two versions of Bitcoin running on separate blockchains.
For SegWit to occur, there will need to be 80% of Bitcoin miners in support, which appears to have already been reached, where SegWit2x will deliver the SegWit, with a 2MB block size increase then scheduled for November.
The issue of a split comes as there remains disagreement on a proposed increase to the block size and with SwgWit2x and the user-activated soft fork, commonly referred to as BIP148, inter-connected, SegWit2 supporters looking to push through the 2MB increase to the blockchain by way of a user-activated hard fork (UAHF”) may result in the much talked about split, though it’s not just the hard fork that can cause the split, the “UASF” also capable of creating a split should there be sufficient support for their version of the blockchain to continue, whilst others push for the hard fork, ultimately resulting in a Bitcoin split.
The difference between a UASF and UAHF is that a soft fork is a temporary divergence in the blockchain create by non-upgraded nodes not following new consensus rules, whilst a hard fork is a permanent divergence in the blockchain.
While a blockchain split may be averted, the reality remains that the positives of establishing cryptocurrencies and a decentralized virtual currency have been lost to a certain extent, with a handful of mining pools garnering such sizeable hashrates that has led to what some will refer to as the Bitcoin Cartel, in stark contrast to the ethos of a decentralized virtual currency and more akin to the push and pull seen between central banks and governments, independence continuously being questioned.
We’ve seen OPEC’s influence onoil pricestability and in recent months, the influence of the Bitcoin Cartel is certainly evident, support for a particular SegWit dictating the direction of, not only Bitcoin, but price stability across the Crypto world.
Until miners entering the fray embrace the entire concept of decentralization and support the smaller mining pools and cloud mining service providers, the Cartel will continue to influence and ultimate control will reside with a few.
Price volatility will likely persist, the Cartel unlikely to loosen their grip, the income from the control too high for a more decentralized environment, the value of Bitcoin needing to see a sizeable fall to really hurt the Cartel and mining appetite that has contributed to the Cartel’s tightening grip on the Bitcoin world.
The days ahead are certainly of particular importance to the direction of Bitcoin and cryptocurrencies in general, over the short-term, but in reality there is only one event that needs to be averted and that is a blockchain split, other coding changes unlikely to have a material impact on valuations for now.
Over the longer-term, as the market becomes more educated on the likely influences that a Bitcoin Cartel may have, not only on Bitcoin, but also other Cryptocurrencies, the effects may be considered as a negative for market and any hopes of Bitcoin’s value making its move towards $10,000, a value that has been thrown around in recent weeks, optimism over the eventual outcome having brought out the cryptocurrency optimists that have supported the exponential rise in valuations seen through the first half of the.
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Thisarticlewas originally posted on FX Empire
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• Oil Price Fundamental Daily Forecast – Direction Determined by Outcome of Oil Ministers’ Meeting || Box-office bomb: AMC shares plunge 25% after pre-announcing shocking quarterly loss: Shares of AMC Entertainment (NYSE: AMC) are diving by 25 percent Wednesday after the company revealed it expects a dramatic second-quarter loss , and believes the third quarter will be equally unrelenting. AMC said the expected loss reflects "industry box office trends." American box offices declined 4.4 percent in the second-quarter compared with the same period last year, according to AMC. Against this tide of declining moviegoing, the second-largest movie theater chain in the U.S. is attempting to curtail costs by cutting back on both its staff and operating hours, as well as through a new pricing strategy. But the cost reduction initiatives have yet to bear fruit this year. "We were caught by surprise when AMC pre-announced second-quarter results over 30 days after the close of the quarter, and were further surprised by the magnitude of the top and bottom line miss," Wedbush Securities' Michael Pachter wrote in a note, along with a team of analysts. AMC's adjusted projection for earnings before interest, taxes, depreciation and amortization "shocked" Pachter, who anticipated adjusted EBITDA of more than $200 million. Instead, AMC expects adjusted EBITDA to come in between $134 million and $136 million or about $65 million short of Wedbush expectations. With AMC's second-quarter report still to come, Pachter said "something doesn't sound right" before speculating that the company's expenses may be to blame. "We can only surmise that the company had some unusual expenses during the quarter that it plans to eliminate in the next six months," Pachter said. Wedbush is maintaining an outperform rating on AMC's stock, while the firm "anxiously awaits a more detailed explanation from management." Eric Handler, media analyst at MKM Partners, told CNBC's "Power Lunch" on Wednesday that he does not see "a massive issue long term" for the movie theater chain and declared "the industry as a whole is healthy." Story continues "People love to say the industry is dying if they have one or two bad quarters in a row. The year is still tracking flat, and when you look at the last two years, you've had record years," Handler said. "I think you're going to see another record year in 2018." AMC's stock is down more than 53 percent this year, when it began near its 52-week high of $35.65. The company is expected to formally report second-quarter earnings Monday after the market close. Correction: This story has been updated to reflect that it is solely about AMC Entertainment. More From CNBC Bitcoin may just be a 'dangerous pricing game,' says NYU's valuation expert Insana: Thank global growth for Dow 22,000, not Trump Trading ban implemented after Lehman's collapse is close to getting watered down
[Random Sample of Social Media Buzz (last 60 days)]
BUY $QWARK... Share this with your friends and I'lll see y'all on the moon!! $BTC pic.twitter.com/pMPviq1UTw || El Precio de Bitcoin Rompe los $4,000 ¿Alguien dijo miedo? http://steemit.com/spanish/anahilarski/el-precio-de-bitcoin-rompe-los-usd4-000-alguien-dijo-miedo … #Steemit || Bitcoin just passed $4,000: What a day for Bitcoin. 24… http://dlvr.it/PdjG0p #TC #Bitcoin #crypto #cryptocurrency #technology #music || AE？？？，？ || 25Jun2017 18:00 UTC #Bitcoin live spots - #XBTUSD @ 2,560.29850 $ - #XBTEUR @ 2,309.40400 € || McAfee has deleted his tweet about supporting $BCC / Bcash / Bitcoin Cash. Right after Bitcoin Cash-twitter quoted him. LOL😂 || Check out our new improved membership https://buff.ly/2vYjk9g
#coinstreet #forex #altcoin #blockchain #trading #traders #investing #bitcoin pic.twitter.com/v6a631BGGf || WTI 42.87$ +0.13
Brent 45.33$ +0.11
Bitcoin 2680.00$
USD/RUB 60.01
EUR/RUB 66.99
USD/UAH 26.01
EUR/UAH 29.14
RUB/UAH 0.43
UAH/RUB 2.30 || Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo dedicar un ···- https://goo.gl/Cdo6SQ - # || First 1% of $BTC addresses > 90% of all $BTC including exchanges, cold storage, etc.
Keep just 1 $BTC in cold storage, see in few years
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Trend: up || Prices: 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
From the crypto-goldrush to new compliance concerns: offshore firms weather the storm: Offshore law firms in the Caribbean basin are no strangers to tempests. Last year’s Atlantic hurricane season was one of the worst on record. The British Virgin Islands (BVI) suffered catastrophic damage; many BVI-based law firms had to evacuate their staff after Hurricane Irma crippled infrastructure across the island chain.Storm clouds have been brewing metaphorically too. Ongoing regulatory scrutiny across the offshore world continues to hang heavy, with the broader industry still trying to salvage its reputation from the wreckage caused by the Panama Papers leak. So when US President Donald Trump announced changes to the country’s tax laws at the end of last year, offshore firms were bracing for another violent squall that threatened to flatten large chunks of their business.For now, it looks like the storm has passed. The increased regulatory burden has not dampened demand for offshore legal services. In the first six months of the year, new incorporations in the Cayman Islands were up by 39%, in BVI they were up by 16%, and in Bermuda by 6%, according to data tracked by Conyers Dill & Pearman. And the revamped US tax legislation has not yet been the scourge that many initially feared. On the contrary, a booming US economy is creating a fertile backdrop for global dealmaking – a potential boon for offshore firms.
“The biggest driver of our business is the health of the onshore economy, but the country that is more significant than any other is the US,” says Marcello Ausenda (pictured right), a director in Conyers’ corporate practice in Bermuda. “If there is growth in the US – and there has been very heathy GDP growth over the last few years – and you have healthy capital markets and a healthy stock market, then that provides oxygen for deal flow, and when there is buoyant deal activity onshore, some of that comes offshore to us.”The amount raised in global initial public offerings (IPOs) hit $134bn at the end of August, the most since 2014, according to Dealogic, a data provider. And that is not just being driven by deals out of the US; the Asia-Pacific region saw its IPO market pop to $61bn, the highest in seven years. Some 112 IPOs were launched across Bermuda, BVI and Cayman in the first half of the year, Ausenda says. A significant number of those Cayman deals were listed in Hong Kong, including China’s Cayman-incorporated Fusen Pharmaceutical Company Limited, which raised HK$416m ($53m), and REM Group (Holdings) Limited, which raised HK$135m.
Chinese companies in particular find the relative simplicity of the Cayman Islands and its regulatory regime attractive
“Chinese companies in particular find the relative simplicity of the Cayman Islands and its regulatory regime attractive, and you couple that with deep legal teams and a professional knowhow around what is required – people in Hong Kong and Shanghai are very comfortable with Cayman companies,” says Simon Raftopoulous, a partner at Applebys in Cayman, whose firm advised on the Fusen and REM IPOs.
Raftopoulous (pictured right) says one of the reasons for Cayman’s appeal is flexibility around capital structuring, such as creating special classes of preference shares or having a mixed board. That has firmly established Cayman as the go-to locale for offshore IPO work. Brazilian fintech firm PagSeguro Digital, for instance, incorporated in Cayman for its $2.3bn IPO on the New York Stock Exchange.The US tax changes have also boosted corporate confidence, says Raftopoulous, spurring a flurry of mergers and acquisitions. Global M&A activity surged above $3trn this year for the first time since the financial crisis, according to Dealogic. In the offshore territories, Bermuda in particular has seen a busy year of dealmaking. At the end of August, there had been six inbound M&A deals into Bermuda (where an overseas company seeks to buy a Bermuda-based entity), worth about $8.2bn – double the value of deals seen during the same period in 2017. Meantime, there were 17 outbound deals (where a Bermuda entity seeks to make an acquisition overseas), worth about $4.3bn, three times last year’s value (the number of deals was also the highest since 2012).“In Bermuda we have a large insurance industry, and that industry has been experiencing quite a long period of soft rates, which has encouraged consolidation,” says Ausenda. “In the past six to eight months, there have been a couple of very large deals – one of them was AXA’s acquisition of XL Group and the other was AIG’s acquisition of Validus.”Another big trend that has been gripping the offshore territories this year is the growth in the cryptocurrency, blockchain and wider fintech market. In the first six months of the year, there were just over 600 initial coin offerings (ICOs) globally, raising more than $16bn, according to Coinschedule, an ICO tracker. Almost $6bn of that was issued in June alone, proving that excitement around cryptocurrency assets shows little signs of waning despite a huge fall in the value of Bitcoin since the turn of the year.The vast potential of the fintech market has not gone unnoticed by offshore governments seeking new ways to expand their economies. Bermuda, for instance, is seeking to position itself as the destination of choice for cryptocurrency and fintech companies, having passed a raft of legislation this year to bolster its appeal. Among those is a bespoke ICO act that will regulate new coin offerings, alongside a fintech advisory committee that has been set up to vet ICO applications. It has also passed a digital asset business act, which will regulate service providers that cater to the fintech industry. And Bermuda has also made an amendment to its banking act to create a new class of bank to better serve the sector, thus sidestepping reluctance from existing financial institutions.
The government is taking a bet that there are enough reputable players in the fintech industry who will want to come and use Bermuda
“The Bermuda government, as a strategic imperative, has gone out and created infrastructure in Bermuda to support the fintech industry and to attract the subset of clients in the fintech space who want to be regulated by a reputable jurisdiction, and the government is taking a bet that there are enough reputable players in the fintech industry who will want to come and use Bermuda,” says Ausenda, whose firm worked closely with the government and the Bermuda Business Development Agency during the legislative process.“There is an enormous advantage to being the first mover, because you can then develop a reputation as being the go-to jurisdiction for that product or asset class, and then the herd follows,” Ausenda adds.Given the nascency of the market – Bermuda’s fintech advisory committee was not even set up when it started receiving ICO applications under the new legislation – offshore lawyers remain circumspect about how the business might unfold.
“We suspect that blockchain may ultimately be more important than cryptocurrency work in the long run. But will this result in significant jobs? The jury is out on that,” says Keith Robinson (pictured right), a partner at Carey Olsen in Bermuda. “Until recently we hadn’t seen the fintech space result in significant instructions, but we have now seen some come in and it’s certainly possible that jobs will result. We have seen some advisory work around employment and immigration because companies that do want to set up in the fintech world in Bermuda are exploring what it means to have significant employees on the ground. Clients tell us that location is important. Bermuda has the direct flight to London, it’s two hours from New York, so for people wanting to span those two worlds it’s not a bad proposition.”Onshore concerns may also have an impact on how the market develops. A number of countries have already banned Bitcoin. And the US Securities and Exchange Commission is said to be investigating about 80 cryptocurrency startups for violating securities regulations.“Certainly, whether you’re onshore or offshore, there’s a desire and need for regulatory certainty in this space and people are grappling with what that actually means,” says Raftopoulous. “For crypto and ICOs to be accepted as a legitimate business and enjoy credibility beyond what is currently afforded in the business sector, we’re far away from that and there will be consequences to the views they are taking onshore that will trickle down to offshore. But crypto and blockchain, it’s here to stay and it’s going to morph into a globally regulated form, that’s where it has to head.”Raftopoulous says Applebys' dedicated global technology and innovation group has seen it lead the way for offshore firms in the fintech space, having worked on a number of groundbreaking transactions, such as SelfKey’s $22m, blockchain-based digital identity token sale.
We were living and breathing this market before it was cool
“We were living and breathing this market before it was cool, so we take a deep sense of pride that the lawyers in our fintech team really understand what is going on,” he says. “That’s important because clients in this sector, maybe more so than other sectors, have an intrinsic need or want that you understand what they’re doing and how their product works. We’ve been lucky in getting that right and it’s certainly reflected in the amount of instructions we’ve got and the amount of deal flow.”
Despite Bermuda’s move to embrace the potential crypto-goldrush, Cayman-based lawyers do not expect to see their work dry up. Cayman has already seen a host of successful ICO and token generation events, says Alan de Saram (pictured right), managing partner at Collas Crill in Cayman, mostly because of its existing investment funds framework.For instance, for people wishing to issue tokens that are not classified as securities (a utility token, in the crypto parlance), Cayman law has a robust definition of what does and does not constitute a security, which means issuers can structure a utility token offering without having to tip-toe around any regulatory uncertainty, de Saram says.The introduction of Cayman’s Foundation Companies law last year has also been popular with ICO issuers. Foundation companies make it easier to set up a bespoke governance structure, and the not-for-profit element is useful for coin issuers that have an altruistic element to them, he says.That existing investment framework has also encouraged the launch of a number of cryptofunds, which are mostly structured in the same way as a standard investment fund, but which hold crypto assets instead, de Saram says.Wider fund work also continues to be healthy, notably in the private equity space, which remains popular with investors, given the meagre returns up for grabs in other asset classes. Private equity funds raised a record $542bn last year, according to Preqin, a data provider (the pace is slightly slower this year, with $255bn raised by the end of August). Hayden Isbister, managing partner at Mourant Ozannes’ Cayman practice, says his firm has seen an increase in the number of Asia-focused private equity funds, which tend to set up Cayman vehicles if they are selling into the US.Raising all that money has come with other challenges though, namely there is a huge pile of cash chasing a finite number of assets. That is driving up prices, making it harder to invest those funds, lawyers say. At the end of June, private equity funds had a record $1trn of unspent ‘dry powder’ waiting to be deployed, Preqin data shows.That frothiness in asset prices – which can crimp potential returns – has led to a rise in the use of fund finance, typically short-term subscription credit lines. Private equity funds have traditionally used these to quickly purchase assets while waiting for cash to be drawn down from investors but, more recently, funds have been extending these credit lines as a way to boost performance, as it allows them to hold assets for longer without using investors’ cash. That can potentially lift a fund’s internal rate of return higher than it would have been had they received the cash from investors earlier.
Isbister (pictured right) says where fund finance was once the domain of more boutique lenders, most of the large US investment banks are now providing fund-level subscription lines, which has led to an increase in the amount of credit being offered.“Historically many of these facilities have been relatively small in money terms but the amounts now are mind-boggling, in some cases billions of dollars,” he says.The growth in private equity funds has not been matched by the hedge fund industry, which has generally underperformed from a returns perspective during the past decade, denting demand. In part that is because stock markets have been rising, and hedge funds tend to do better when markets are falling, de Saram says. Yet given that bull markets tend to have a roughly 10-year shelf life, those dynamics may soon begin to change, and that could lead to a big uptick in new hedge fund formation, he says.Increased regulation and compliance is not depressing fund work either. In fact, Isbister says regulation is actually a growth opportunity for offshore firms as they help funds adapt to the shifting compliance backdrop. That is especially pertinent for the Cayman Islands, which has 11,000 registered funds and more than 30,000 unregulated funds that will have to meet a plethora of new rules, such as having to appoint anti-money laundering officers by the end of September this year.“That’s one of the biggest changes we’ve seen in many years here,” says Isbister. “The amount of regulation that is creeping into the offshore world now is really seeing it become a specialised area for offshore firms; rather than all lawyers dabbling in regulatory work, each firm has got specific regulatory practices and regulatory lawyers.”As well as greater scrutiny around anti-money laundering processes, de Saram says rules around beneficial ownership and data protection are the most pressing topics offshore firms are having to deal with.“People are worried that beneficial ownership regimes will have a negative effect on offshore because it has traditionally been more private,” he says. “It’s going to add to costs, which obviously goes against the grain because it is usually cheaper to set up funds offshore than onshore, but most onshore jurisdictions are having to put in place data protection checks and balances and more robust beneficial ownership practices, so maybe some of our nervousness has been unwarranted.”Robinson reckons there is also an opportunity for offshore law firms to wrestle work away from accountancy firms that currently prepare businesses for regulatory reviews.“A lot of that is really legal work, but law firms don’t seem to have caught on to the fact that they can market their skills to help corporate services providers, trust companies and the whole range of financial services companies get ready for regulatory inspections,” he says.But there is no doubt the tangle of new regulations is a drag. In Bermuda, companies now have to file bylaw provisions to the island’s Registrar of Companies related to the quorum of a shareholders’ meeting, any restrictions on share transfers, and the duties and obligations of the company’s secretary, says Ausenda.“Mostly because of the onshore regulatory pressure from the European Union and the Organisation of Economic Co-operation and Development, we have this new legislation which just makes it a little bit more cumbersome in Bermuda,” he says.Ausenda is less concerned, however, about any jitters around beneficial ownership requirements.
The inconvenient truth for many onshore regulators is that Bermuda is the world leader in the vetting of ultimate beneficial ownership
“The inconvenient truth for many onshore regulators is that Bermuda is the world leader in the vetting of ultimate beneficial ownership,” he says. “Since we invented the offshore company 80 years ago, from that very first company, Bermuda has always and consistently vetted ultimate beneficial ownership. The Bermuda Monetary Authority has its own private register, and we’re probably the only jurisdiction in the world where you can pick any company on our companies’ registry and our regulator can tell you who the ultimate beneficial owners are.”The regulatory headwinds are unlikely to dissipate in the foreseeable future. The UK has said its overseas territories must make those beneficial ownership registers public before 2020. And the EU is seeking further compliance measures from offshore jurisdictions around the world by stiff-arming them into drafting legislation that will set guidelines on the level of economic activity a company must undertake in the offshore jurisdiction in which it is registered. Failure to enact these so-called substance rules before the end of the year could result in the EU blacklisting that jurisdiction.Black clouds may also be forming over global trade, as tensions continue to escalate between China and the US. Protectionist policies and barriers around inbound foreign investment are unlikely to be good news for cross-border capital flows and by extension offshore financial centres such as Cayman, Bermuda and the BVI. Increased competition among offshore law firms may also add to the challenges ahead.“It’s only the large law firms with an international footprint operating offshore that are successful in securing the best work for the best clients,” says Isbister. “There are too many offshore law firms and too many lawyers in this market. There’s a huge gap between the big global firms and those at the next level. Small firms are struggling.”
There are too many offshore law firms and too many lawyers in this market
Yet others are optimistic that greater competition – and therefore more choice for clients – is healthy. Carey Olsen, for instance, this year opened a Bermuda office as the firm continues its global expansion.“We opened in January with a building on a three-year lease and we’re already full, so we physically have no office space left, and that means there’s demand for people who want to have variety and have competition, and I’m sure that’s the same with Carey Olsen the world over – we face increasing competition in all of the jurisdictions, and that’s not a bad thing,” says Robinson.And despite the geopolitical tensions, markets continue to be upbeat. A new trade pact between the US, Mexico and Canada was agreed at the end of September, with only relatively minor tweaks to the old North American Free Trade Agreement that President Trump had so vehemently railed against. That might offer a glimmer of hope that Trump’s trade grievances with China could yet be resolved without the need for a prolonged and messy trade war.“As long as the Chinese economy and US economy remain strong and buoyant, then our business will follow suit,” says Ausenda. || Expect the SEC to Target More Token Exchanges After EtherDelta: The SEC's settlement with the founder of EtherDelta is likely the first of many enforcement actions to come against crypto token exchanges. The Securities and Exchange Commission's (SEC) settlement with the founder of EtherDelta is likely the first of many enforcement actions to come against crypto token exchanges. Until recently, the SEC's scrutiny of the cryptocurrency industry largely focused on projects and teams that raised money through initial coin offerings (ICOs) in possible violation of securities laws. But a person familiar with the SEC's thinking told CoinDesk Thursday that crypto trading platforms have become a significant priority for the agency's enforcement division. As such, the news that the SEC had charged EtherDelta founder Zachary Coburn with operating an unregistered securities exchange can be seen as a shot across the bow of token-trading platforms. SEC Charges EtherDelta Founder Over 'Unregistered Securities Exchange' "At this point, if you're doing an exchange of crypto assets, dealing with U.S. persons, you probably need to get either a no-action letter or get clarity from counsel about whether you are implicating securities laws," said Andrew Hinkes, an adjunct professor at the New York University School of Law. And while the EtherDelta action was the SEC's first against a crypto exchange, Hinkes told CoinDesk: "I'm surprised it took this long." Further, the case shows that even if so-called decentralized exchanges (DEXs) cannot be easily shut down, that does mean no one will be held liable for their activities. Without admitting or denying the charges, Coburn agreed to pay a total of $388,000 in penalties, disgorgement and interest under the settlement.  A Decentralized Bitcoin Exchange That's Almost Decentralized "This tells you that an exchange that used a distributed set of nodes instead of a centralized server isn't going to be treated any differently," Hinkes said. "Just because you make it and then it gets operated by a decentralized network of others doesn't mean that any prospective responsibility or liability is gone. It's just possibly relocated." Story continues And notably, the action was taken against Coburn even though he left EtherDelta in late 2017. The trades of ethereum-based tokens on the platform cited by SEC took place between July 12, 2016 and December 17, 2017, around the time of his departure. "It doesn't matter whether you sell the business or operated it a year ago or a few years ago," said Preston Byrne, a partner at the law firm Byrne & Storm, P.C. "American securities laws are going to be enforced." On the other hand , it's also telling that Coburn's penalty was merely a low-six-figure fine. He wasn't banned from participating in capital markets, in part because he cooperated with the SEC, which wants other individuals running or planning to run similar platforms to reach out to the agency first. " The entrepreneur, in this case, cooperated fully with the commission, which is often a good idea," Byrne said. "It shows the SEC is willing to work with people who are willing to work with them." Decentralization is relative Stepping back, since the token sale craze of 2017, numerous DEX platforms have emerged where ethereum-based assets are often swapped without oversight from any licensed entity. According to DappRadar , the leading DEX platform IDEX had roughly 1,401 users over the past 24 hours. With regards to EtherDelta specifically, there were roughly 1,079 trades on EtherDelta over the past 24 hours, about 11 percent less than in the previous 24-hour period. Although the SEC hasn't clarified which tokens that traded on EtherDelta it considered securities, this action hinted at who regulators consider liable for purportedly decentralized technologies. Speaking of the SEC order and how it relates to the most popular form of ICO token, the ERC-20, Hinkes said: "It says that he [Coburn] founded a company, wrote and deployed the smart contract and exercised complete and sole control over the operations. Based on that, he should have known that his actions would contribute to the violation of the Exchange Act." In Hinkes' mind, this opens up a variety of legal questions for developers contributing to ethereum and bitcoin. It's entirely possible that merely writing and executing code could make technologists vulnerable to legal action in the future if they neglect to create limitations for how that software is used, he said. "EtherDelta could have elected to filter out certain tokens," Hinkes said. "By not doing so, they opened themselves up for everything, including securities that are issued under ERC-20. " Regardless of which specific tokens are eventually deemed by courts to be unregistered securities, Stephen Palley, a partner at the Washington, D.C.-based law firm Anderson Kill, told CoinDesk his reading of the order implies the majority of EtherDelta's volume came from "the purchase and sale of unregistered securities." Fight or flight From Byrne's point of view, the SEC's enforcement action could inspire more cryptocurrency companies to avoid having operations in the United States. "There are hubs overseas, Singapore, England, where the laws are much friendlier toward ICOs and tokens," Byrne said. "The principal task of cryptocurrency entrepreneurs will be 'how do we maximize our opportunities in those jurisdictions while limiting our exposure to American regulators, and also compliance with American laws, as we conduct business overseas?'" Meanwhile, the U.S.-based DEX startup AirSwap is strategizing for the opaque regulatory climate by partnering with licensed securities dealers and avoiding order books altogether. "Unlike other platforms, AirSwap doesn't engage in exchange activitiesâit has no order book, no order matching, and no transaction fees," AirSwap co-founder Michael Oved told CoinDesk. "Our approach has been to be proactive in seeking advice and to be transparent with regulators." Several exchanges operating in the U.S., including AirSwap's rival Everbloom, avoid charging traders fees in an effort to reduce legal risks. Hinkes said this recent order may undercut such approaches. "It doesn't appear that taking a fee is relevant to their analysis of whether EtherDelta was acting as an exchange that should have registered or proceeded under an exemption, or not," Hinkes said. This much is certain, the SEC is far from finished with its sweep of the industry, which Palley compared to a five-act play, saying: "They've got dozens and dozens of investigations going on. I think we'll see more press releases, more enforcement actions. This is certainly not the end of anything. This is maybe the end of Act 2 and the beginning of Act 3." SEC Chairman Jay Clayton image via YouTube Related Stories The Crypto Protocol Trying to Unite Every Exchange Order Book 'Tedious But Necessary': Why This Decentralized Exchange Wants a License || Peer-to-Peer Bitcoin Exchange Hodl Hodl Implements Multisignature Contracts: One of the oldest mantras in Bitcoin trading is: “never leave your coins on the exchange.” This wisdom is borne of the experience of Mt. Gox traderswho lost many millionsof dollars in Bitcoin over four years ago.
Yet, better than never leaving your coins on an exchange is never placing them in the custody of the exchange in the first place. For the most part, exchanges have not conveniently allowed traders to do this. Hodl Hodl is a rarity in this respect and it has raised the bar again by enabling 2-of-3 multi-signature contracts in trades through its platform. The exchange had previously offered, and continues to offer, 2-of-2 contracts.
2-of-2 multisignature contracts offered byHodl Hodlonly require the signature of the seller and the exchange. The new contract type offers the buyer more leverage in trading and disputes. An example dispute might be where a given rate was agreed upon but the seller is attempting to back out.
What this means is that each party must consent to the movement of the coins, where previously there might have been a possible attack vector or possibility to scam when coins were still in motion. In the words of the exchange itself:
In a regular 2 out of 3 contract, where everything goes well, buyer’s key is not needed — it only comes into play if the contract was disputed, and Hodl Hodl administrator resolved it in favor of buyer. In this case, buyer is able to sign a release transaction with his key and receive the funds without seller’s participation. This is how the 2 out of 3 contract type works.
Firstdreamed upbysuspected SatoshiNick Szabo as early as 1994, smart contracts are one more new age technology brought about by the Blockchain revolution, enabling everything from secure subscriptions to estate bequests. Programmable smart contracts are at the heart of the Ethereum decentralized application ecosystem, among others. They allow for fine-tuning of agreements and are likely to be at the heart of law and taxation in the near to mid-future. Where traditional contracts require a vast legal exercise to revoke or even enforce, smart contracts can have automatic impositions of penalties or revocation.
More than just money, smart contracts present exciting opportunities in computing, government, business, and beyond. Combined with the transparency of a blockchain, such contracts are on track to revolutionize the way humans do things.
Featured image from Shutterstock
The postPeer-to-Peer Bitcoin Exchange Hodl Hodl Implements Multisignature Contractsappeared first onCCN. || Why Warren Buffett Bet on Banks in the Third Quarter: Banks now make up more than 40% of Berkshire Hathaway 's (NYSE: BRK-A) (NYSE: BRK-B) stock portfolio, including more than $14 billion worth of new additions. In this segment from Industry Focus: Financials , host Jason Moser and Fool.com contributor Matt Frankel, CFP, give a rundown of the bank stocks Berkshire added during the most recent quarter, and why Warren Buffett and his stock-picking team could be big fans of the banking industry right now. A full transcript follows the video. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This This video was recorded on Nov. 19, 2018. Jason Moser: Matt, big news here, as is with every quarter. Berkshire Hathaway's 13-F came out. That's the SEC form that gives us an idea of what they are buying, what they're selling. You wrote an article here recently on fool.com that gave us some great insight there. Talk to me a little bit about Berkshire's 13-F, and what stood out to you. Matt Frankel: We knew this was a fairly active quarter for Berkshire. In its earnings report, we saw that it spent something like $14 billion on stocks. But there were a few things that really stood out. One, Berkshire invested in Oracle , which was a new position, and shows how Berkshire's embracing technology recently. Moser: Embracing his own brand, too, right? He's the oracle of Omaha. He may as well own some Oracle. Frankel: [laughs] I wonder if that had anything to do with it. The other big thing that stood out was bank stocks. Not just that Berkshire bought one bank, they initiated a $4 billion position in JP Morgan , but Berkshire upped its position in pretty much every major bank stock it owns, with the exception of Wells Fargo . It bought almost 200 million more shares of Bank of America , 24 million shares of US Bank , another 5 million shares of Goldman , which was its biggest percentage increase for the quarter. It increased its Goldman stake by 38%. Bank of New York Mellon . Story continues There are a couple of things to take from this. #1, Berkshire can't own any more than 10% of a bank, which is why he's branching out into new big bank positions like JP Morgan and selling a little of his Wells Fargo every quarter. He needs to maintain that stake a little under 10%, which it is. Bank of America now is very close to being a 10% stake. Goldman's not quite there yet. But some of the smaller ones are. JP Morgan's one that he could buy another $20 billion worth and not be close to the cap yet. In my opinion, that's why he decided to buy JP Morgan. It's a very well-run bank, and he has a lot of room to expand his position. And Berkshire really needs to spend billions of dollars to move the needle. But, just the general theme of buying bank stocks. In all, we don't know the exact price Buffett paid for all these, but he spent close to $15 billion on bank stocks during the quarter. He already had an overweight position in banks. So, why is Buffett buying so many banks? One, it's been a big underperformer of the S&P. Banks were a huge beneficiary of tax reform. A lot of the banks, when we've discussed their earnings, have earnings up 40-40% year over year. And the main reason for that is tax reform. Banks paid pretty much the maximum corporate tax rate. And banks have yet to realize the benefit of the rising rate environment. We mentioned that the profit margins for banks go up as interest rates go up, which tends to happen. But so far, the Fed's raised rates about eight times. We're yet to see that kind of rate movement on the long end of the yield curve, meaning on mortgage rates and things like that. So, banks are yet to realize the profit potential from that. It's still generally a deregulated banking environment, a business-friendly banking environment. Even though the Democrats took back the house, we're not likely to see any significant new banking regulations come to be with a Republican in the White House and a Republican-controlled Senate. Pretty neutral regulatory environment. It should be a very nice climate for growth, given how well the economy is doing. Most banks are posting very good loan and deposit growth, great numbers when it comes to defaults and charge-offs. Asset quality is looking really good. It's a really great growth environment for banks, and the market hasn't really given banks the credit for it to be a great growth environment. It looks like Buffett sees some unlocked and unrealized value in the sector, and that's what he's betting his money on. Moser: It makes sense. We have an economy that is very credit-driven. When that's the case, these are the big banks that are out there helping a lot of that money move around in one way, shape, or form. To your point about JPMorgan Chase -- we're big fans of that company, obviously. One of the bigger banks out there doing more and more with the capital it's able to gather. I think Jamie Dimon has proven to be a very forward-thinking CEO. Not only that, but Buffett and Dimon, along with Bezos, working together on that healthcare initiative to try to help cut costs and improve healthcare within their own companies, and hopefully bring some of those learnings that to the greater corporate society. I think that all makes sense. I did want to follow up with you on one thing here, with the Wells Fargo position. We've been very critical of Wells Fargo for some time here now. The cutting of the Wells Fargo position there, you think that really is more related to not hitting that 10% mark, as opposed to throwing down the gauntlet and saying, "We're sick and tired of your culture problems there. Fix it or we're going to start weaning our way off of your position in our portfolio?" Frankel: That's a very good question. A couple of points. First of all, Buffett came out about a year ago and said, "We have no intention of getting rid of Wells Fargo. We are going to start selling to keep our stake under 10%." Berkshire's stake is a little over 9%. Buffett also owns some Wells Fargo in his personal portfolio. Combined, he has to be very careful that it doesn't give them 10% control. Second, Wells Fargo, because it has been a big underperformer, is buying back its stock very aggressively, which is making Buffett's stake naturally go up over time. Each quarter for the past few quarters, Buffett's had to sell a small percentage. I think it was a little under 2% of the Wells Fargo stake that he sold this quarter. But, a small percentage each quarter. Each time it happens, a few weeks later, Buffett has come out and said, "We believe in Wells Fargo. They made a mistake." Last quarter, he actually said he believes Wells Fargo will be the best-performing of the big four over the next ten years. So, he's come out in support of Wells Fargo many times as a long-term investment. He's said he has no intention of getting rid of it from the portfolio. And we've seen this consistent pattern of selling to maintain the stake at a certain level over the past three or four quarters now. Moser: Alright. We will wait until next quarter to see what the trends look like there. Jason Moser has no position in any of the stocks mentioned. Matthew Frankel, CFP owns shares of BAC and Berkshire Hathaway (B shares). The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool owns shares of ORCL and has the following options: short December 2018 $52 calls on ORCL and long January 2020 $30 calls on ORCL. The Motley Fool has a disclosure policy . || Cryptos Fall as U.S. Lawmakers Ask SEC to Clarify ICO Regulation: Bitcoin was lower on Monday. Investing.com - Cryptocurrencies were lower on Monday as four U.S. Congressmen asked the U.S. Securities and Exchange Commission to clarify the regulatory status of initial coin offerings. In a letter from Friday to Jay Clayton, chairman of the SEC, U.S. lawmakers Warren Davidson (R- OH), Ted Budd (R- NC), Tom Emmer (R-MN) and Darren Soto (R-FL), asked the regulator to make its position on ICOs more clear. According to the letter, the uncertainty regarding digital tokens “is hindering innovation in the United States” and they “believe the SEC could do more to clarify its position.” As digital tokens have risen in popularity, governments around the world have struggled to regulate the alternative currencies and agree whether the product is a securities or a commodity. Bitcoin lost 1.55% to $6,558.70 on the Bitfinex exchange, as of 10:24 AM ET (14:24 GMT). Cryptocurrencies overall were steady, with the coin market cap of total market capitalization at $221 billion at the time of writing. Ethereum, or Ether, fell 4.27% to $227.85 and Litecoin was at $59.875, down 2.85%, while XRP decreased 10.37% to $0.55383. In other news, Ripple and other companies are forming a lobby group in Washington. Called the Securing America’s Internet of Value Coalition, it seeks to promote a fair tax treatment on crypto-related capital gains, assets and charitable contributions. “We understand this is really complicated, and there is a lot of misinformation out there. The good news is there is a lot of interest in this topic in D.C,” said Chris Larsen, Executive Chairman of Ripple. “It gives them some upside and gives them some risk. Hopefully, it gives them a taste of the industry in a way that hits home.” Related Articles Japanese Cryptocurrency Exchanges Tighten Customer Asset Management Rules Cryptocurrency is Inevitable Future of Money, Malta’s PM Muscat Says XRP Falls 10.56% In Rout || Why Warren Buffett Bet on Banks in the Third Quarter: Banks now make up more than 40% ofBerkshire Hathaway's(NYSE: BRK-A)(NYSE: BRK-B)stock portfolio, including more than $14 billion worth of new additions.
In this segment fromIndustry Focus: Financials, host Jason Moser andFool.comcontributor Matt Frankel, CFP, give a rundown of the bank stocks Berkshire added during the most recent quarter, and why Warren Buffett and his stock-picking team could be big fans of the banking industry right now.
A full transcript follows the video.
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This video was recorded on Nov. 19, 2018.
Jason Moser:Matt, big news here, as is with every quarter. Berkshire Hathaway's 13-F came out. That's the SEC form that gives us an idea of what they are buying, what they're selling. You wrote an article here recently on fool.com that gave us some great insight there. Talk to me a little bit about Berkshire's 13-F, and what stood out to you.
Matt Frankel:We knew this was a fairly active quarter for Berkshire. In its earnings report, we saw that it spent something like $14 billion on stocks. But there were a few things that really stood out. One, Berkshire invested inOracle, which was a new position, and shows how Berkshire's embracing technology recently.
Moser:Embracing his own brand, too, right? He's the oracle of Omaha. He may as well own some Oracle.
Frankel:[laughs] I wonder if that had anything to do with it. The other big thing that stood out was bank stocks. Not just that Berkshire bought one bank, they initiated a $4 billion position inJP Morgan, but Berkshire upped its position in pretty much every major bank stock it owns, with the exception ofWells Fargo. It bought almost 200 million more shares ofBank of America, 24 million shares ofUS Bank, another 5 million shares ofGoldman, which was its biggest percentage increase for the quarter. It increased its Goldman stake by 38%.Bank of New York Mellon.
There are a couple of things to take from this. #1, Berkshire can't own any more than 10% of a bank, which is why he's branching out into new big bank positions like JP Morgan and selling a little of his Wells Fargo every quarter. He needs to maintain that stake a little under 10%, which it is. Bank of America now is very close to being a 10% stake. Goldman's not quite there yet. But some of the smaller ones are. JP Morgan's one that he could buy another $20 billion worth and not be close to the cap yet. In my opinion, that's why he decided to buy JP Morgan. It's a very well-run bank, and he has a lot of room to expand his position. And Berkshire really needs to spend billions of dollars to move the needle. But, just the general theme of buying bank stocks. In all, we don't know the exact price Buffett paid for all these, but he spent close to $15 billion on bank stocks during the quarter. He already had an overweight position in banks.
So, why is Buffett buying so many banks? One, it's been a big underperformer of the S&P. Banks were a huge beneficiary of tax reform. A lot of the banks, when we've discussed their earnings, have earnings up 40-40% year over year. And the main reason for that is tax reform. Banks paid pretty much the maximum corporate tax rate. And banks have yet to realize the benefit of the rising rate environment. We mentioned that the profit margins for banks go up as interest rates go up, which tends to happen. But so far, the Fed's raised rates about eight times. We're yet to see that kind of rate movement on the long end of the yield curve, meaning on mortgage rates and things like that. So, banks are yet to realize the profit potential from that.
It's still generally a deregulated banking environment, a business-friendly banking environment. Even though the Democrats took back the house, we're not likely to see any significant new banking regulations come to be with a Republican in the White House and a Republican-controlled Senate. Pretty neutral regulatory environment. It should be a very nice climate for growth, given how well the economy is doing. Most banks are posting very good loan and deposit growth, great numbers when it comes to defaults and charge-offs. Asset quality is looking really good. It's a really great growth environment for banks, and the market hasn't really given banks the credit for it to be a great growth environment.
It looks like Buffett sees some unlocked and unrealized value in the sector, and that's what he's betting his money on.
Moser:It makes sense. We have an economy that is very credit-driven. When that's the case, these are the big banks that are out there helping a lot of that money move around in one way, shape, or form. To your point about JPMorgan Chase -- we're big fans of that company, obviously. One of the bigger banks out there doing more and more with the capital it's able to gather. I think Jamie Dimon has proven to be a very forward-thinking CEO. Not only that, but Buffett and Dimon, along with Bezos, working together on that healthcare initiative to try to help cut costs and improve healthcare within their own companies, and hopefully bring some of those learnings that to the greater corporate society. I think that all makes sense.
I did want to follow up with you on one thing here, with the Wells Fargo position. We've been very critical of Wells Fargo for some time here now. The cutting of the Wells Fargo position there, you think that really is more related to not hitting that 10% mark, as opposed to throwing down the gauntlet and saying, "We're sick and tired of your culture problems there. Fix it or we're going to start weaning our way off of your position in our portfolio?"
Frankel:That's a very good question. A couple of points. First of all, Buffett came out about a year ago and said, "We have no intention of getting rid of Wells Fargo. We are going to start selling to keep our stake under 10%." Berkshire's stake is a little over 9%. Buffett also owns some Wells Fargo in his personal portfolio. Combined, he has to be very careful that it doesn't give them 10% control. Second, Wells Fargo, because it has been a big underperformer, is buying back its stock very aggressively, which is making Buffett's stake naturally go up over time. Each quarter for the past few quarters, Buffett's had to sell a small percentage. I think it was a little under 2% of the Wells Fargo stake that he sold this quarter. But, a small percentage each quarter. Each time it happens, a few weeks later, Buffett has come out and said, "We believe in Wells Fargo. They made a mistake." Last quarter, he actually said he believes Wells Fargo will be the best-performing of the big four over the next ten years. So, he's come out in support of Wells Fargo many times as a long-term investment. He's said he has no intention of getting rid of it from the portfolio. And we've seen this consistent pattern of selling to maintain the stake at a certain level over the past three or four quarters now.
Moser:Alright. We will wait until next quarter to see what the trends look like there.
Jason Moserhas no position in any of the stocks mentioned.Matthew Frankel, CFPowns shares of BAC and Berkshire Hathaway (B shares). The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool owns shares of ORCL and has the following options: short December 2018 $52 calls on ORCL and long January 2020 $30 calls on ORCL. The Motley Fool has adisclosure policy. || Bitcoin Magazines Week in Review: Under the Microscope: Week in Review This past week saw a flurry of reports and analyses released by various agencies and companies, speculating on the roles past and present of cryptocurrencies and blockchain technologies. Two big names in the blockchain industry are being scrutinized as they attempt to grow, and we put two privacycoins, Monero and Zcash, under the microscope. Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe to our newsletter here . Study Up! Study Argues Tether Wasn't Used to Prop Up Bitcoin Price Blockchains Report Examines Benefits (and Failures) of Todays Stablecoins A remarkable number of reports were released this week that, together, contributed to a comprehensive picture of the cryptocurrency industrys trajectory. Two of them focused on stablecoins. Contrary to the conclusion of another study by John Griffin and Amin Shams that Tether was being used to manipulate the price of bitcoin, a new report by Dr. Wang Chun Wei of the University of Queensland Business School states that the effect of the stablecoin is statistically insignificant as far as bitcoin pricing is concerned. At the end of the week, Blockchain released a study that examined both the positive and negative aspects of stablecoins, painting an overall picture of optimism for the budding asset class. Study Reveals Growing Sophistication in Malicious Mining of Cryptocurrency IBM/MIT Connection Science Issue Report on the Role of Blockchain in Government Another study tackles the subject of malicious mining, also known as cryptojacking, in the cryptocurrency space, and it points out that the problem is on the rise as bad actors become more sophisticated. And finally, after a series of roundtable discussions, MIT Connection Science and IBM issued a 41-page joint report on the role of blockchain in government. The findings illuminate discussions held by private and public sector leaders on the blockchains impact for government on digital identity, payments and supply chain/provenance. Story continues Novice, Intermediate or Expert? A Quiz to Test Your Bitcoin Knowledge Think you know Bitcoin? Bitcoin Magazine has reissued its popular Bitcoin Quiz with 30 new questions at the Novice, Intermediate and Expert level. Study up and see how you fare. Embattled Privacycoins Monero Releases Malware Response Group and Successfully Patches Burn Bug Battle of the Privacycoins: Zcash Is Groundbreaking (If You Trust It) Earlier this month, we reviewed Monero as a privacycoin. This week, we learned about a bug in its code that could have had some serious consequences had it not been patched in a timely fashion. Continuing our series on privacycoins, we examined Zcash this week, and our coverage has since generated some fiery discussion on social media. Big Names, Big Plans Coinbase Rolls Out Crypto Bundles and New Educational Resources Coinbase Announced New Asset Listing Program Bitmain IPO Prospectus Reveals Offering May Be a Gamble for Investors Two of the biggest names in the crypto space have made some big news. Coinbase began by introducing an application process to onboard new altcoins and then went on to announce a new series of educational resources and a product that allows customers to buy a bundle of Coinbases listed assets. Potential investors got a peek at Bitmains IPO prospectus this week, but the information contained within may make them pause before deciding whether or not to take a chance on the mining giants future. This article originally appeared on Bitcoin Magazine . || Even CenturyLink Wants In on the Cloud: Communications company CenturyLink (NYSE: CTL) recently announced a new service as part of its Cloud Connect segment for businesses: Dynamic Connections. CenturyLink stock has been in a downward slide for years, but its internet service business -- particularly that for enterprise connections -- has been the sole area of strength that's giving investors hope. With more changes to the internet's structure looming, the cloud and other business services could be the key to CenturyLink returning to growth one day. A cloud primer The cloud refers to software and services that a user can access via the internet. In contrast with old software that is downloaded direct to a user's computer, the software or service provider maintains the service and does all the computing power on their own server and delivers it on-demand to the subscriber. What is Cloud Connect Dynamic Connections? Many businesses are migrating their operations from on-premise (like software downloaded to computers or locally on company-owned servers) to the cloud. As a result, large organizations have an increasingly complicated mix of technology -- old and new. Connecting all of those different servers and computer networks with new cloud services can be a serious challenge, not to mention a potential security issue. That's where CenturyLink's Cloud Connect division comes in. Cloud Connect was designed to help a sprawling enterprise more efficiently connect its own network with the cloud services it is using via a private internet connection. The new Dynamic Connections feature allows users of Cloud Connect to actively manage those connections to improve overall efficiency of their diverse network of computers and devices, owned servers, and various cloud services. If this sounds like internet throttling and the net neutrality debate , that's because it's similar. However, instead of CenturyLink and other internet service providers deciding who gets preferential treatment on the internet, it's a matter of giving an organization with global reach or huge online operations control over where their own internet bandwidth is used within the company. Story continues An artist's depiction of data being shared on the internet around the world. There are lines and numbers and charts and graphs and globes. Image source: Getty Images. Why this matters CenturyLink has been under pressure for years. Its voice services are shrinking as the world goes mobile, internet streaming TV is quickly replacing cable packages, and even broadband internet connections at homes will soon get a run for their money with the advent of 5G internet from mobile companies like Verizon (NYSE: VZ) . When backing out the results from the Level 3 Communications acquisition in late 2017, CenturyLink revenue declined 1.7% and 2.3% in the first and second quarters of 2018, respectively. The IP and data services and IT and managed services segments have been bright spots through the first half of the year. Both are up by low- to mid-single digits compared to 2017, helping partially offset a 10% and 8% drop in the voice segment during the first and second quarter. Cloud Connect, the new Dynamic Connections, and other related internet and data-driven services feed into that area of growth for CenturyLink and are far more profitable than the declining legacy segments like voice. The company's ability to roll out flexible internet and connection management options are important if those segments are to keep growing -- especially given the complex needs of organizations as the cloud continues to develop . It's also a good reason to consider adding the beleaguered CenturyLink stock to portfolios as the company's profit margins and free cash flow rebound and keep its current 10.5% dividend yield propped up. The name may conjure up images of an old and outdated communications service provider, but CenturyLink is proving it still has a place at the high-tech table. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Nicholas Rossolillo and his clients own shares of Verizon Communications. The Motley Fool recommends Verizon Communications. The Motley Fool has a disclosure policy . || Bitcoin Cash Price Sets New Yearly Lows as Crypto Exchanges Resume BCH Trading: It has been five days since theBitcoin Cash forkbegan and crippled the stability of the BCH ecosystem, and the worst part is that it is not looking to recover anytime soon.
The BCH/USD pair on Tuesday dropped another 40 percent — on paper, anyway (most exchanges paused BCH trading ahead of the fork and are consequently seeing all of therecent market lossesrealized at once) — setting new yearly lows at 237.14-fiat. There were no signs of upside recoveries that could stand for long. The downtrend intensified as each session formed bearish flags and pennants consecutively. The continuation pattern started to indicate more breakdowns. And as they happened, the BCH/USD pair went inside a free fall without finding a bottom.
BCH/USD has invalidated its neckline level at 409.36-fiat onBitstamp, a level which is now stronger as resistance that it was as support. The pair has established an intraday support at its year low at 237.14. There is a little recovery in the making, but that could be nothing but yet another bear pennant forming, as discussed above. As the daily chart points to a downside action, its RSI has already dipped inside an oversold territory. The same is visible in the Stochastic Oscillator trend, which is way inside its oversold region as well.
The interim price action in the BCH/USD chart shows RSI and Stochastic in overbought territory already. A resistance trendline in orange is capping the upside movements as of now. With a likelihood of high selling pressure around the said level, BCH/USD can complete its pennant formation to form yet another bearish flag, retesting 237.14-fiat as newfound support.
In a longer-term (1W), however, the BCH/USD pair is falling towards nowhere. There is no bottom in sight, allowing bears to drive the market as low as they want. Concerning RSI and Stochastic, the weekly chart is still trending inside the selling area, awaiting correction.
The ongoing fight between Bitcoin Cash (as most exchanges are labelingBitcoin ABC‘s version of BCH) and Craig Wright’sBitcoin SVis likely to harm the crypto market as a whole. To say there is a simple way out of this would be misleading people at best unless one sideconcedesdefeat. In the best case scenario, the industry should witness the market caps of Bitcoin Cash and the much smaller Bitcoin SV joining back together and providing some relief to the market.
As noted, crypto exchanges are already in the process oflabelingBitcoin ABC’s ticker BCHABC as BCH, signifying that ABC will lead the original BCH blockchain. Meanwhile, trading under the BCH ticker is closed on some mainstream exchanges. It indicates that the market is witnessing only one side of action, for interested buyers —few though they may be— must be finding it difficult to enter the BCH space. Once the trading fully resumes for retail investors, then one can expect more trend-defining movements in the market.
Featured Image from Shutterstock. Charts fromTradingView.
The postBitcoin Cash Price Sets New Yearly Lows as Crypto Exchanges Resume BCH Tradingappeared first onCCN. || Jack Ma: I Pay Special Attention to Blockchain & Bitcoin to Create Cashless Society: Jack Ma, the chairman of Alibaba and $150 billion China-based financial conglomerate Ant Financial, has said in a recent speech that he pays special attention to Bitcoin and blockchain technology, and the potential of establishing a cashless society.
Although Ma is still studying the fundamental value Bitcoin and other major cryptocurrencies bring to the market, he emphasized that blockchain technology as a whole is a powerful innovation that could enable a completely cashless society.
Only a very small portion of the population in China uses cash or credit cards to purchase products, receive compensation for their work, and to settle utility bills. Payment applications like Ant Financial’s $60 billion Alipay dominate the space.
With NFC-enabled smartphones, Alipay users in China can purchase coffee with a tap of a smartphone on sophisticated Point of Sale (PoS) terminals and instantaneously receive salaries from their employees through the app, without dealing with delays that often occur with wire transfers and inefficient banking services.
“I pay special attention to cashless society and blockchain technology. Mine and Alibaba’s job is we will move the world into a cashless society. The society can make everybody equal, inclusive to get the money they need, make sure it is sustainable and is transparent. I hate corruption. I don’t have opportunity is ok. But I don’t want somebody through a dirty way take away my opportunity. This is why we want a cashless society.”
Previously, speaking to FT, Ray Chan, vice-president of Ant Financial,saidthat new products of the company are tailored to millennials and the new generation users, who have demonstrated the willingness to move on from traditional means of payments to more efficient and sophisticated financial networks.
“When we consider new products, we create them for this era, one in which young people have become the main driving force of our society,” Chan said.
During his speech, Ma emphasized that he has not dismissed crypto or Bitcoin as a currency and a store of value. But, he is still undecided whether Bitcoin brings in sufficient value to the society as a consensus currency based on blockchain technology.
Ma explained:
“Bitcoin, the thing I want to know is that what value, what things that itcoin can bring to the society. But Behind bitcoin, the technology itself, is really very powerful.”
Currently, most of the world’s largest financial networks rely on centralized databases to record the transfer of fiat currencies and digital assets.
By blockchain technology, Ma refers to decentralized computing systems like Ethereum that enable businesses to build on top of the blockchain, like decentralized applications (dApps) and tokens on the ERC20 token standard.
As an incentive system to compensate good actors in the space and punish bad actors with malicious intent, a cryptocurrency is necessary on a blockchain platform that is not inherently centralized. Hence, as blockchain technology achieves mainstream adoption and an increasing number of conglomerates start to utilize the technology as an underlying platform to process information, the importance of crypto will increase.
Featured image from Shutterstock.
The postJack Ma: I Pay Special Attention to Blockchain & Bitcoin to Create Cashless Societyappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
Oct 08, 2018 13:01:00 UTC | 6,639.30$ | 5,784.50€ | 5,090.90£ | #Bitcoin #btc pic.twitter.com/TkDWu63LvF || Quote from Andreas Antonopolous
http://BitcoinLootbox.com/
Register Now & go Long or Short on #Crypto with #Bitcoin
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#Cryptocurrency #Blockchain #Ethereum #ETH #Ripple #Litecoin #EOS #Monero #NEO #Stellar #Tron #IOTA #Cardanopic.twitter.com/eExIBsAQp7 || 1hr Report : 08:00:51 UTC Top 10 Mentions
$BTC, $ETH, $XRP, $LTC, $XLM, $NEO, $NPXS, $EOS, $ADA, $OMGpic.twitter.com/yirl1IeFwp || NEUER 2-WAY KRYPTO AUTOMAT
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BITCOIN, BITCOIN CASH, ETHEREUM, LITECOIN
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Sa, So: Geschlossen
https://coinatmradar.com/bitcoin_atm/4283/bitcoin-atm-general-bytes-schaerding-sjd-finanzservice-gmbh/ …
#bitcoinnewspic.twitter.com/syApmBJ2Xn || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : -0.64 % || 20-10-2018 00:30
Price in #USD : 0.1511206256 || Price in #EUR : 0.1310880755
New Price in #Bitcoin #BTC : 0.00002350 || #Coin Rank 628 || New post in Verified Crypto News: #MarketCap
Market Cap: $209,677,504,355.00
Bitcoin Dominance: 53.64 %
24H Volume: $10,615,387,703.00
#Top10Coins Summary
#BTC $6,489.255 (0.4%)
#ETH $205.783 (1.6%)
#XRP $0.460 (1.7%)
#BCH $443.214 …https://ift.tt/2Cw9oXe || 1hr Report : 13:00:51 UTC Top 10 Mentions
$BTC, $ETH, $XRP, $AION, $LTC, $BCH, $BAT, $XLM, $ADA, $NEOpic.twitter.com/ZODsbcSXuz || Oct 23, 2018 00:00:00 UTC | 6,448.10$ | 5,623.90€ | 4,972.30£ | #Bitcoin #btc pic.twitter.com/PHYkwC6LsV || Total Market Cap: $209,638,379,295
1 BTC: $6,348.93
BTC Dominance: 52.62%
Update Time: 14-11-2018 - 07:00:11 (GMT+3) || Do you think in add option to send bitcoin to emails? Or will be limited to bitcoin addresses?
|
Trend: down || Prices: 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin is exploding in Venezuela — but not for the reason you think: AsVenezuelasuffers its worst meltdown in history, with inflation skyrocketing and basic necessities running in short supply, many have taken to bitcoin mining in a bid to survive,according to a reportin the current issue of the Atlantic.
The reason? Electricity is now cheaper and more affordable in the crisis-hit country than most basic goods. That's because under PresidentNicolás Maduro, electric power is heavily subsidized to the point that it's essentially free, the Atlantic said.
Bitcoin mining works like this: Miners use computer hardware to perform complex computations that ultimately create each new link in the bitcoin blockchain — the massive, decentralized ledger technology that underpins the cryptocurrency. In return, they are rewarded with bitcoin. One of the key requirements to mine bitcoin is to have a large supply of power.
The Atlantic explained that a Venezuelan user who can run several bitcoin mining devices can clear about $500 a month — that is considered a small fortune enough to feed a family of four and purchase vital goods such as baby diapers or insulin from overseas.
But authorities have begun cracking down on mining operations, according to the Atlantic. The report explained that because the country does not have cryptocurrency laws, police are arresting miners on "spurious" charges. That move has driven miners deeper underground and some are reportedly moving into ethereum for higher profits.
Reading the full story about the rise of bitcoin mining in Venezuela here.
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• This is the new iPhone App Store coming in September || Mark Cuban backs new $20 million cryptocurrency venture fund: Onetime bitcoin skeptic Mark Cuban is warming to the digital currency world. The billionaire is backing a new venture capital fund for cryptocurrency-related investments called 1confirmation. Founded by Nick Tomaino, former business development manager at Coinbase, the fund plans to raise $20 million, according to a Monday filing with the Securities and Exchange Commission. "It's an interesting space that I [want] to get involved with and learn more" about, Cuban said in an email to CNBC Tuesday. He did not specify the size of his investment. Cuban's opinion on digital currencies has changed fairly recently. In an Aug. 14 tweet, the Dallas Mavericks owner admitted he "might have to finally buy some" bitcoin (Exchange:BTC=-USS) , contrasting with a June tweet that said he thought bitcoin was in a "bubble." "Bias should be up because of finite supply. Until crypto or US politics intrude, and they will," he added in another tweet on Aug. 14. Tweet1 Tweet2 In late June, Cuban said he planned to participate in an initial coin offering by Unikrn, an online esports betting site in which he holds a stake. Earlier that month, Cuban tweeted that he didn't know when or by how much the price of bitcoin, which has soared in value this year, would correct. He did acknowledge then that the blockchain technology backing bitcoin had value and that it "will be at the core of most transactions in the future. Healthcare, finance etc all will use it." IBM ( IBM ) announced Tuesday that it will work with major food companies such as Wal-Mart ( WMT ) , Unilever, Tyson Foods ( TSN ) , Dole and Kroger ( KR ) to "identify new areas where the global supply chain can benefit from blockchain." However, bitcoin's surge and a rush of funds into initial coin offerings have attracted more investment attention. Bitcoin has quadrupled in value this year and hit a record last Thursday of $4,522.13 with a market capitalization of about $74 billion, according to CoinDesk. Initial coin offerings, which are fundraising events used by cryptocurrency-related start-ups, have raised $1.37 billion so far this year, CoinDesk data showed. Story continues Source: CoinDesk The launch of the 1confirmation fund comes amid increased fundraising for cryptocurrency-related businesses. On Aug. 10, digital currency storage and exchange company Coinbase announced it raised $100 million in private equity funding led by Dropbox investor IVP. That marks the largest single traditional funding round for a public blockchain or cryptocurrency start-up, according to CoinDesk. Other participants in 1confirmation include Brendan Eich, creator of the JavaScript computer programming language; Balaji Srinivasan, board partner at technology venture capital firm Andreessen Horowitz, and David Vorick, who is building a blockchain-based cloud storage system called Sia. The fund's founder, Tomaino, is also a principal at venture fund Runa Capital. Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist. More From CNBC Tech investor: Under Trump, business leaders have become the moral compass Inside the crumbling relationship between Uber and Benchmark These questions will shape Uber’s financial fate || Yes, It's Confusing: Bitcoin Forking Explained: Forks have been in the news a lot recently due to controversy in the bitcoin community. There was the potential fork that threatened to split bitcoin into two cryptocurrencies after a lengthy “civil war” between miners and developers. That came and went with little issue. Then there was the sudden fork that actually did permanently split the blockchain on Tuesday, spinning Bitcoin Cash out of bitcoin . In truth, forks, or splits, in the blockchain happen constantly and usually pass with little news. But unless you actively follow cryptocurrency news, you may not even know what a fork is or why they can be so controversial. Related Link: As Crisis Is Averted, 3 Takes On The Rise Of Bitcoin What Is A Fork? Simply put, a fork is when a cryptocurrency’s blockchain splits into two possible chains either because of a transaction or new rule for what makes a transaction valid. When they occur, users have to decide which route to follow. The decision is made when a new block is added to either chain. The longer chain will become the legitimate successor to the original, while the other will be “orphaned.” Only one chain can ultimately be correct, and so transactions that occur on an orphaned chain will be ignored and lost. This is why miners will typically only want to work on the longer, valid chain and why cryptocurrency owners are advised not to made transactions until a fork can be resolved. A fork happens any time two miners discover a new block at nearly the same time. These tend to resolve themselves, but can still lead to anxiety among cryptocurrency holders. Other times, a fork is purposefully introduced so developers can change the rules used to determine a transaction’s validity. These instances are much more controversial and have to potential to permanently split the chain with both surviving as independent currencies. There are several specific kinds of forks — user activated, miner activated, software, git, etc. — but they all essentially fall into two categories: hard forks and soft forks. Story continues Hard Forks As defined by the glossary on bitcoin’s website, a hard fork is “a permanent divergence in the blockchain, commonly occur[ing] when non-upgraded nodes can’t validate blocks created by upgraded nodes that follow newer consensus rules.” For a hard fork to be successfully implemented, every node must be upgraded to the new rules. Problems arise when a portion of the cryptocurrency’s community opposes the changes and decides to stick with the old chain. The ethereum blockchain’s split into Ethereum and Ethereum Classic is a perfect example of that occurring and two variants staying alive. Here’s a visualization of how hard forks work: Image: Investopedia Soft Forks Bitcoin’s glossary defines a soft fork as a change to a blockchain “wherein only previously valid blocks/transactions are made invalid. Since old nodes will recognise the new blocks as valid, a soft fork is backward-compatible.” When a soft fork occurs, non-upgraded nodes will still register new transactions as valid but cannot be used to mine new blocks, as the upgraded nodes will reject them. A soft fork requires the majority of users to support the change, otherwise the upgraded nodes could wind up being on the shortest chain and orphaned by the network. Soft forks typically present lower risk and therefore are most commonly used to change a blockchain’s rules. Bitcoin Improvement Protocol 91, which introduced the rule change known as Segwit2x, is an example of a major soft fork that was recently successful, with almost 100 percent of users supporting the change and the holdouts becoming orphaned. If, however, a significant number of users are dedicated to the change but fall short of a majority, the soft fork could become a hard fork with the upgraded nodes starting a new cryptocurrency. An example is Bitcoin Cash splitting off from bitcoin. A large group of users still unsatisfied with BIP 91 chose to launch bitcoin Cash to make the blockchain closer to digital cash than digital gold which, while tradable and valuable, is not easily spent. Related Link: Coinbase Is Courting Serious Legal Trouble By Not Supporting Bitcoin Cash Its proponents will have to prove in the coming weeks that the there is enough support to keep it alive and growing. Regardless of the reason or method behind a fork, the best bet for investors who trade and use cryptocurrencies is to hold off on making any transactions until it is resolved. Here’s a visualization of how soft forks work: Image: Investopedia Keep up with the latest need-to-know crypto and financial news in real-time with Benzinga Pro . Related Links: Crypto Investors, Keep An Eye On Blackmoon Cryptocurrency Mining Is The Next Gold Rush, And AMD To Make Short-Term Gains Selling The 'Pickaxes' See more from Benzinga FireEye's Q2 Keeps Growth Story Intact Piper Jaffray's Mike Olson: Apple Needs To Keep Up With Chinese Innovation Can Investors Still Get More Juice Out Of Apple? © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 'Bitcoin cash' potential limited, but a catalyst could be looming for it to take off, experts say: "Bitcoin cash," the cryptocurrency created as a result of a split in the bitcoin(Exchange: BTC=-USS)blockchain, may not have long-term potential, industry insiders told CNBC, but a key event down the road could give it more backing.
To recap, the underlying bitcoin technology known as theblockchain underwent a "fork", meaning it split to create a new digital currency. This happened because the community disagreed on how to increase the capacity of the blockchain, which was struggling with record-high transaction times for bitcoin.
As a result of the split, "bitcoin cash" was created.And it has had a volatile start. It hit a high of just over $727 on Wednesday before more than halving to just over $310 in the space of a few hours, according to price tracking site Coinmarketcap.com.
Many experts said there would likely be some short-term trading activity, but have expressed doubt over the longer-term potential of "bitcoin cash".
"Over the longer term, Bcash's prospects are limited due to the relatively small size of the community maintaining its blockchain, developing its software and using the cryptocurrency," Aurelien Menant, founder and CEO of cryptocurrency exchange Gatecoin, told CNBC by email.
Menant said Gatecoin would start supporting trade with "bitcoin cash". This is in contrast to Coinbase, the world's largest bitcoin exchange, which decided not to support the new cryptocurrency.
In a Tweet on Tuesday, Coinbase CEO Brian Armstrong, said we "don't want to rush anything out," highlighting the uncertainty over "bitcoin cash's" future.
But the continuing debate over the underlying bitcoin technology continues. The fight was over how much to increase the block size of the blockchain.
To understand this, it's important to outline how transactions work. Transactions by users are gathered into "blocks" which is turned into a complex math solution. So-called miners, using high-powered computers work these solutions out to determine if the transaction is possible. Once other miners also check the puzzle is correct, the transactions are approved and the miners are rewarded in bitcoin.
Increasing the block size would boost transaction speeds. Some people wanted a solution that would dramatically increase the block size from its current 1 megabyte level. But the majority of the community have decided to increase the block size to 2 megabytes.
A full recap of what has happened can be found here. This 2MB increase is likely to come into effect in November, providing miners stick to their word and make the necessary software updates.
If this doesn't happen, then "bitcoin cash" could get a boost.
"If most miners decide that for economic reasons they prefer to mine larger blocks and commit more hashing power to Bcash, then it's likely more development work and user adoption would follow, and those conducting business with bitcoin may decide to adopt Bcash instead," Menant said.
"Yet for this to happen Bcash would need to prove that its technology can match the security features and reliability of bitcoin's software," he added, striking a note of caution.
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• Apple's China revenues fall 10% as analyst claims iPhone has 'gone out of fashion' || Bitcoin hits all-time highs as rally resumes; Bitcoin Cash falters: Investing.com – The rally in Bitcoin resumed, as the digital currency hit all-time highs on Tuesday, while rival Bitcoin Cash fell to its lowest in more than week.
On the U.S.-based Bitfinex exchange, bitcoin rose to $4,569.2, up $232.6 or 5.36%, surpassing its previous high of $4,489.1.
The surge in bitcoin saw its monthly gains for August reach nearly 70%, boosting its market cap to $75.40 billion, highlighting the elevated demand for the largest cryptocurrency by market cap.
Bitcoin is one of the top performing assets, boasting gains of more than 400% over the past year.
In other crypto-currency trade, Bitcoin Cash fell $29.51, or 5%, to $551.71, moving further away from its peak of $935.50 while Ethereum, added 7.49% to $369.28.
Bitcoin Cash was created as a result of a ‘civil war’ in Bitcoin, after some members of the bitcoin community rejected software upgrade SegWit2x – a proposal adopted by the majority of bitcoin users aimed at speeding up transactions on the bitcoin network – following concerns that SegWit2x fails to adequately address bitcoin’s scaling problem.
Bitcoin transactions are limited to 1-megabyte every 10 minutes - or seven transactions per second. This compares to 2,000 per second for Visa and means that at peak times bitcoin transactions can take hours to be fulfilled, inhibiting the currency.
Bitcoin Cash seeks to increase the block size to 8-megabytes whereas SegWit2X proposes moving transaction data outside of the block on a parallel track with plans to increase bitcoin’s block size later this year.
To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/
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Forex - Dollar trims losses after CB report but remains under pressure || Base Metal ETFs Buck Commodity Swoon: There's a bewildering rally taking place within the commodities markets, and few on Wall Street are buying it. Base metals, a group that includes everything from copper to zinc to aluminum, have shot higher in 2017 despite a relatively dismal year for the broader commodity market.
ThePowerShares DB Base Metals Fund (DBB), which holds an equal-weighted basket of all three metals, has jumped 20.8% year-to-date, handily outperforming the 6.9% loss for the broadPowerShares DB Commodity Index Tracking Fund (DBC), the 13.3% swoon for thePowerShares DB Energy Fund (DBE)and the 7.4% decline for thePowerShares DB Agriculture Fund (DBA).
YTD Returns For DBB, DBC, DBE, DBA
Factors Driving Rally
Analysts attribute the base metals rally to a few factors, including rebounding growth in China and a weaker U.S. dollar.
GDP in China expanded by 6.9% during the first half of 2017, outpacing the government's target of 6.5% and even last year’s 6.7% growth rate. Meanwhile, the U.S. Dollar Index has slid 8.7% so far this year.
But those bullish factors aren't unique to base metals. Other commodities would seemingly benefit from a stronger Chinese economy and sliding greenback, but they haven't. That means it may be the supply side that's really powering metals higher.
"Our view is that there are several separate factors at play accelerating the metals' price boom. Demand conditions within China are supportive and the dollar has weakened,” said Dane Davis, commodities research analyst for Barclays. “That helps, but it’s not enough. What’s turbo-charging some metals are supply disruptions and tightness. Copper, for example, has seen disruptions ranging from weather to strikes, cutting 612 kt [612,000 metric tons] of production so far in 2017."
‘Tightening Environmental Controls’
Robin Bhar, head of metals research for Societe Generale, also sees the industry as getting a supply-side lift from environmental reforms in China.
"Supply-side reforms in China are a key factor" driving the rally, he noted, adding: "Tightening environmental controls/monitoring of mines and smelters (mainly aluminum and zinc) are constraining output. In aluminum, smelting capacity is being forced to close if it doesn’t have the necessary licenses from the central government."
While analysts largely agree on what's driving metals higher, they're split over whether the rally will continue. Most agree with Barclays’ Davis, who noted that "something seems off about this recent rally" and that he remains "skeptical of its strength and duration."
Keep An Eye On Iron Ore
Davis is especially wary of iron ore, a key ingredient in making steel. The steel market is running very hot at the moment in China, but that will likely change relatively soon, he says.
"While demand conditions are supportive in the short term, they’re running up against long-term head winds, including a China that is facing demographic pressures of a slowdown," Davis predicted.
Meanwhile, Bernard Dahdah and Alomgir Miah, analysts at Natixis, also believe the rally will run out of steam soon.
"Although in the long run we are bullish on copper and aluminium, we believe in the short to medium term they have overshot where they should be fundamentally due to the excitement of better- than-expected demand indicators in China," they said. "We expect prices for both metals to fall in Q4'17 after the end of leadership elections in China."
On the other hand, Societe Generale's Bhar believes there is ample support for a continued rally in base metals.
Though nickel in particular looks overvalued, "base metals overall from a supply/demand perspective are in better balance and inventories are falling," he said.
In Bhar's view, the base metals uptrend is sustainable through the end of the year, but the situation gets murkier in 2018 when he anticipates China's economy will slow.
Contact Sumit Roy atsroy@etf.com.
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Permalink| © Copyright 2017ETF.com.All rights reserved || Yes, It's Confusing: Bitcoin Forking Explained: Forks have been in the news a lot recently due to controversy in the bitcoin community.
There was the potential fork that threatened to split bitcoin into two cryptocurrencies after a lengthy “civil war” between miners and developers. That came and went with little issue.
Then there was the sudden fork that actually did permanently split the blockchain on Tuesday,spinning Bitcoin Cash out of bitcoin.
In truth, forks, or splits, in the blockchain happen constantly and usually pass with little news. But unless you actively follow cryptocurrency news, you may not even know what a fork is or why they can be so controversial.
Related Link:As Crisis Is Averted, 3 Takes On The Rise Of Bitcoin
What Is A Fork?
Simply put, a fork is when a cryptocurrency’s blockchain splits into two possible chains either because of a transaction or new rule for what makes a transaction valid.
When they occur, users have to decide which route to follow. The decision is made when a new block is added to either chain. The longer chain will become the legitimate successor to the original, while the other will be “orphaned.”
Only one chain can ultimately be correct, and so transactions that occur on an orphaned chain will be ignored and lost.
This is why miners will typically only want to work on the longer, valid chain and why cryptocurrency owners are advised not to made transactions until a fork can be resolved.
A fork happens any time two miners discover a new block at nearly the same time. These tend to resolve themselves, but can still lead to anxiety among cryptocurrency holders.
Other times, a fork is purposefully introduced so developers can change the rules used to determine a transaction’s validity.
These instances are much more controversial and have to potential to permanently split the chain with both surviving as independent currencies.
There are several specific kinds of forks — user activated, miner activated, software, git, etc. — but they all essentially fall into two categories: hard forks and soft forks.
Hard Forks
As defined by the glossary on bitcoin’s website, a hard fork is “a permanent divergence in the blockchain, commonly occur[ing] when non-upgraded nodes can’t validate blocks created by upgraded nodes that follow newer consensus rules.”
For a hard fork to be successfully implemented, every node must be upgraded to the new rules.
Problems arise when a portion of the cryptocurrency’s community opposes the changes and decides to stick with the old chain.
Theethereum blockchain’s splitinto Ethereum and Ethereum Classic is a perfect example of that occurring and two variants staying alive.
Here’s a visualization of how hard forks work:
Image: Investopedia
Soft Forks
Bitcoin’s glossary defines a soft fork as a change to a blockchain “wherein only previously valid blocks/transactions are made invalid. Since old nodes will recognise the new blocks as valid, a soft fork is backward-compatible.”
When a soft fork occurs, non-upgraded nodes will still register new transactions as valid but cannot be used to mine new blocks, as the upgraded nodes will reject them.
A soft fork requires the majority of users to support the change, otherwise the upgraded nodes could wind up being on the shortest chain and orphaned by the network.
Soft forks typically present lower risk and therefore are most commonly used to change a blockchain’s rules.
Bitcoin Improvement Protocol 91, which introduced the rule change known as Segwit2x, is an example of a major soft fork that was recently successful, with almost 100 percent of users supporting the change and the holdouts becoming orphaned.
If, however, a significant number of users are dedicated to the change but fall short of a majority, the soft fork could become a hard fork with the upgraded nodes starting a new cryptocurrency.
An example is Bitcoin Cash splitting off from bitcoin. A large group of users still unsatisfied with BIP 91 chose to launch bitcoin Cash to make the blockchain closer to digital cash than digital gold which, while tradable and valuable, is not easily spent.
Related Link:Coinbase Is Courting Serious Legal Trouble By Not Supporting Bitcoin Cash
Its proponents will have to prove in the coming weeks that the there is enough support to keep it alive and growing.
Regardless of the reason or method behind a fork, the best bet for investors who trade and use cryptocurrencies is to hold off on making any transactions until it is resolved.
Here’s a visualization of how soft forks work:
Image: Investopedia
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© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || APT Systems Inc. Announces Its Formal Entry Into the Blockchain Ecosystem: SAN FRANCISCO, CA--(Marketwired - Aug 3, 2017) - APT Systems, Inc. (OTC PINK:APTY), a fully reporting company in the Fintech software sector, is pleased to announce it has acquired the domain nameswww.cryptoassets.solutionsand cryptoasset.io as part of their plan to explore opportunities in cryptocurrencies, coins, tokens and other cryptoassets.
As a subsidiary of APT Systems, Inc., the new CryptoAssets brand would be uniquely positioned within the digital currency space to manage, track, chart, and assess fluctuations for key tokens and coins. CryptoAssets would offer tools that track and identify price momentum in Bitcoin (BTC) and Ethereum (ETH) tokens which have emerged as leaders in the blockchain space.
Glenda Dowie, CEO of APT Systems, Inc. states, "APT Systems, Inc. holds an optimistic view for the future of blockchain technologies and believes decentralized transaction ledgers have the potential to change commerce worldwide. APT Systems, Inc. expects to be in the forefront of the management systems tracking digital assets. CryptoAssets is anticipated to track and chart major digital currencies such as Bitcoin and Ethereum as well as many others from their inception or ICO (initial coin offering)."
APT Systems, Inc. is also preparing to focus some of the elements of its proprietary trading system into the digital currency and cryptoasset markets. Digital currency is an equity or coin balance that is recorded and stored electronically on a shared ledger. A complete financial market for trading cryptocurrencies continues to evolve and we look forward to being a participant in this economic adventure.
About APT Systems, Inc.: APT is an acronym for Applied Proprietary Trading. The Management of APT Systems, Inc. works to deliver stock trading tools and its platform Intuitrader with a focus on handheld devices; while also strategically acquiring other compatible financial businesses which demonstrate strong growth potential. We are continuing our diligent search for software products that would enhance our operations while still watching dialogue on the proposed legislation for the Fintech National Banking Charter.
Disclaimer - Forward Looking Statements:This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company. APT Systems, Inc (APTY) may opt to disseminate information about itself, including the results of its operations and financial information, via social media platforms such as Facebook, LinkedIn and Twitter.
Investor Online Kit -http://www.aptsystemsinc.com/online-investor-kit-for-apt-systems-inc-apty/On Twitter follow@APTYsys || Bitcoin jumps nearly 70% for August to record high, offshoot 'bitcoin cash' falls to more than one-week low: Exactly four weeks since bitcoin(Exchange: BTC=-USS)split into bitcoin and bitcoin cash, the original digital currency hit a record high Tuesday while the offshoot fell to its lowest in more than a week.
Bitcoin rose more than 6.5 percent, to a record high of $4,703.42, up nearly 70 percent for the month, according to CoinDesk. Bitcoin edged off that high in afternoon trade, hovering around $4,603, still more than quadruple in value for the year and up about 60 percent for August.
Bitcoin cash hit a low of $559.61, its lowest since Aug. 18, before recovering to around $575, according to CoinMarketCap. The alternative version of bitcoin, supported by a minority of developers, is still up about 170 percent from a low of $210 hit on Aug. 1, the day of the split.
While digital currency "miners" temporarily found bitcoin cash more profitable than the original version to mine, by Tuesday it was 32 percent more profitable to mine bitcoin, according to data from theCoin Dance website.
"With Bitcoin back to being more profitable, Bitcoin cash lost some steam," Nolan Bauerle, director of research at CoinDesk, said in an email to CNBC.
Relative profitability to "mine" bitcoin cash vs. bitcoin
Source: Coin Dance
Meanwhile, institutional interest in bitcoin is rising. A Tuesday report from financial research firm Autonomous Next identified55 crypto-related funds.
"I think it's just new money coming in," said Brian Kelly, a CNBC contributor and head of BKCM, which runs a digital assets strategy for clients. He noted the bulk of the gains in bitcoin came just around the time of the U.S. stock market open Tuesday morning.
Another digital currency, ethereum,(Exchange: ETH=)climbed nearly 5 percent Tuesday, to around $364, according to CoinMarketCap. Ethereum is up more than 4,400 percent this year and has gained nearly 79 percent this month.
Some analysts also attributed bitcoin's gains to investors looking for a safety trade afterNorth Koreafired a ballistic missile overJapan.
"With both bitcoin and ether, we're seeing a flight to safety due to the issues in North Korea, similar to when investors previously flocked to gold out of equities during previous wars," said Andrew Keys, head of global business development at blockchain software developer ConsenSys.
Demand for bitcoin and ethereum from Japanese and South Korean investors remained strong, according to CryptoCompare. The site showed trade in the Japanese yen and South Korean won accounted for nearly half of all bitcoin trade volume, while won-denominated ethereum trade accounted for about 22 percent.
Asian stocks closed mostly lower, European markets fell more than 1 percent and U.S. stocks opened lower after North Korea late Monday Eastern Time fired a ballistic missile over Japan. Local broadcaster NHK saidJapan took no action to shoot down the missile,which later broke into three pieces and fell into the sea.
U.S. stocks recovered most of their losses to trade narrowly mixed midday Tuesday.
Gold futures for December(CEC:Commodities Exchange Centre: @GC.11)delivery extended Monday's jump to climb more than half a percent Tuesday to $1,331.90 an ounce, their highest since Nov. 9.
Many digital currency enthusiasts expect bitcoin to become the "digital gold" of cryptocurrencies since its supply is limited to 21 million but demand remains strong as many investors use bitcoin as their way into the digital currency world.
That said, bitcoin is far from reaching the same status as the precious metal. About $7.5 trillion of gold is in circulation, while the value of all digital currencies only reached $160 billion Tuesday, according to CoinMarketCap. Bitcoin had the largest share at nearly $75 billion, while ethereum was second with a market value of $34.7 billion, the site showed.
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• North Korea tensions 'remain contained,' Nomura analysts say || Nvidia is set to dominate the '4th tectonic shift' in computing: Lulea data center 5 - Facebook data center (Facebook) Decades of work have paid off for Nvidia . The next computer revolution is here, and the company is set to dominate its competition, according to Jefferies. "IBM dominated in the 1950's with the mainframe computer, DEC in the mid 1960's with the transition to mini-computers, Microsoft and Intel as PCs ramped, and finally Apple and Google as cell phones became ubiquitous," Mark Lipacis wrote in a note to clients. "We believe the next tectonic shift is happening now and NVDA stands to benefit the way these aforementioned tech giants did in prior transitions." Nvidia has been working on its CUDA computing platform and its graphics processing unit (GPU) technology for years. Traditionally, a computer has worked in a linear way, processing one task at a time on the central processing unit (CPU). Shortly after GPUs were introduced in the 1990s, programmers began using them to break tasks into lots of smaller problems and solving them all at the same time on the GPU. This is called "parallel processing." For certain types of problems, like rendering lots of graphics elements in a video game, GPUs were far superior to the single-minded CPU. They were slower at single tasks, but could handle lots of problems at the same time. Nvidia developed a programming platform, called CUDA, to take advantage of the way their GPUs could handle these multi-faceted problems. CUDA made it easy to break traditional problems into multiple parts that ran much faster on a GPU than the traditional CPU. Fast forward to modern times where artificial intelligence and deep learning technologies are the hot trends. Companies like Google, Tesla and Amazon are using artificial intelligence to program self-driving cars , conquer ancient board games and develop smart personal assistants . Luckily for Nvidia, artificial intelligence and deep learning programs are perfectly suited to run on its GPUs and CUDA platform. Jefferies thinks these two technologies give Nvidia a huge advantage over the competition. Story continues "We see NVDA as a major beneficiary of the 4th Tectonic Shift in Computing, where serial processing (x86) architectures give way to massively parallel processing capabilities as the next wave of connected devices approach 10b units by 2022," Jefferies said. As tech giants build out new data centers to handle their ballooning artificial intelligence research, they often turn to Nvidia to supply the hundreds or thousands of GPUs they need. MIT recently said Nvidia has spent around $3 billion to develop its current data center chip, and it's a move that has paid off for the company. MIT named Nvidia as the smartest company in the world in 2017, in part, because of this investment. Nvidia has been making waves in the autonomous-car business as well. The company recently announced partnerships with Baidu, Volvo and Volkswagen to improve their self-driving car technologies and its technology is already being used in vehicles made by Tesla, Audi and Toyota. Cryptocurrency mining is another example of a process that runs better on GPUs. Nvidia has been raking in profits in that area too, and one Wall Street bank thinks it will be just another sector that Nvidia will come to dominate . Investors have been rewarding Nvidia as it takes the computer world by storm. Shares of Nvidia are up 48.55% this year. While it might take some time before Nvidia's $87.04 billion market cap comes close to the companies that dominated the last computing revolution (Alphabet at $598.61 billion and Apple at $751.88 billion), Jefferies has faith in the company. The investment bank raised its price target to $180, up about 19% from Nvidia's current price. Click here to follow Nvidia's share price in real time. Nvidia stock price (Markets Insider) NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy More From Business Insider This upgrade will extend the life of your MacBook Air for years Most people blow 70% of their money on 3 things and cutting back could be the key to retiring much earlier Bitcoin and Ethereum are 'cannibalizing' gold
[Random Sample of Social Media Buzz (last 60 days)]
Worth noting - Square founder Jack Dorsey talks up Blockchain tech and how he invests in Bitcoin. Risky business. https://www.theverge.com/2017/8/11/16126610/square-twitter-founder-jack-dorsey-blockchain-bitcoin-banks … || #Bitcoin 0.45%
Ultima: R$ 14057.00 Alta: R$ 14289.98 Baixa: R$ 13800.00
Fonte: Foxbit || $BTC
やっと崩壊が始まりましたかね。
待たせやがって(´°ω°｀) || #Bitcoin #News: "Upcoming Bitcoin Cash Mining Difficulty Change can be Crucial for the Network" http://bit.ly/2wGFxG6 || bitcoin 4000... || Current price of Bitcoin is $4169.00 - please Like/RT - Thanks @BTCpx || En ce moment, le prix du #Bitcoin est de USD 4088.00 || Where Do I buy Bitcoins http://ift.tt/2vSqnzV #reddit #bitcoin || #bitcoin just passed $4.000 - https://techcrunch.com/2017/08/12/bitcoin-just-passed-4000/ … || Current price of Bitcoin is $4325.00 via Chain
|
Trend: down || Prices: 4582.96, 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-09-22]
BTC Price: 10538.46, BTC RSI: 44.09
Gold Price: 1898.60, Gold RSI: 41.40
Oil Price: 39.60, Oil RSI: 46.65
[Random Sample of News (last 60 days)]
US Sanctions Two Russians Accused of Using Fraud to Steal Millions in Crypto: The U.S. Treasury Department has slapped sanctions on a pair of Russian nationals accused of stealing $16.8 million from customers of three different crypto exchanges, including two in the U.S.
• According to a U.S. Department of the Treasurypress release, Danil Potekhin and Dmitrii Karasavidi impersonated the exchanges using fake websites imitating legitimate exchange portals to obtain customer login information.
• The exchanges were not named by the Treasury Dept.
• This information was used to access the customers’ accounts and steal their crypto, the Treasury statement said.
• The defendants allegedly laundered the funds using fake profiles on different exchanges.
• The exchanges were not identified.
• The U.S. Secret Service seized “millions of dollars in virtual currency,” according to the statement.
• Bitcoin,ether,monero,litecoin,zcash,dash,bitcoin goldandethereum classicwere all included in the list of sanctioned addresses.
• Cryptocurrency exchanges are frequent targets for malicious actors in the space, who typically hope the pseudonymous properties of the technology will allow them to better hide their proceeds even though the immutable ledger records all transactions.
• US Sanctions Two Russians Accused of Using Fraud to Steal Millions in Crypto
• US Sanctions Two Russians Accused of Using Fraud to Steal Millions in Crypto
• US Sanctions Two Russians Accused of Using Fraud to Steal Millions in Crypto
• US Sanctions Two Russians Accused of Using Fraud to Steal Millions in Crypto || Asian Shares Mixed; Nikkei Jumps Over 2 Percent after Yen Plunge, Shanghai Boosted by Manufacturing PMI: The major Asia-Pacific stock indexes finished mixed on Monday but mostly lower with both the Nikkei and Shanghai indexes posting more than 1.50% gains while the others sputtered. Japanese shares snapped six consecutive sessions of losses on Monday after the Yen retreated from a 4-1/2-month high against the dollar. Chinese stock jumped as key manufacturing data came in above expectations. On Monday, Japan’s Nikkei 225 Index settled at 22195.38, up 485.38 or +2.24%. Hong Kong’s Hang Seng Index closed at 24458.13, down 137.22 or -0.56% and South Korea’s KOSPI Index finished at 2251.04, up 1.67 or -0.07%. China’s Shanghai Index settled at 3367.97, up 57.96 or +1.75% and Australia’s S&P/ASX 200 Index closed at 5926.10, down 1.70 or -0.03%. China’s Factory Activity Expanded Sentiment was helped by a survey showing China’s factory activity expanded at the fastest pace in nearly a decade in July, with the Caixin/Markit PMI at 52.8, above expectations for a reading of 51.3 by economists in a Reuters poll. PMI readings above 50 signify expansion, while those that fall below that figure indicate contraction. US-China Tensions Remain at Forefront Tensions between Washington and Beijing likely continued being watched by investors, with U.S. Secretary of State Mike Pompeo saying Sunday that U.S. President Donald Trump is set to announce “in the coming days” new actions related to Chinese software companies viewed by his administration as a national security threat. On Friday, Trump told reporters he will act soon to ban Chinese-owned video app TikTok from the U.S., according to NBC News. Microsoft on Sunday confirmed it has held talks to buy TikTok in the U.S. from Chinese tech firm ByteDance. Nikkei Rebounds on Wall Street Gains, Yen’s Retreat Japanese shares ended six straight sessions of losses on Monday after the Japanese Yen retreated from a 4-1/2-month high against the dollar in a short squeeze. Exporters got a boost as the Yen fell to a low of 106.40 Yen against the dollar, moving away from a high of 104.195 yen touched on Friday. Story continues Hang Seng Dragged Down by HSBC First-Half Profits Miss HSBC reported a 65% fall in pre-tax profits for the first half of 2020 to $4.3 billion – missing analysts’ expectations. Chief Executive Noel Quinn said the bank was “impacted by the COVID-19 pandemic, falling interest rates, increased geopolitical risk and heightened levels of market volatility.” HSBC shares in Hong Kong tumbled by more than 3% when trading resumed after a lunch break. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: The Trifecta of Key Signals for Gold Miners GBP/USD Price Forecast – British Pound Testing Major Figure Natural Gas Price Fundamental Daily Forecast – Expectations of Higher Export Demand, Possible Heat Supportive What To Expect After Walt Disney Earnings USD/JPY Price Forecast – US Dollar Grind Higher Bitcoin Shots to A New Yearly Highs in July || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / August 29, 2020 / ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available at www.alt5pro.com and Real-Time Market Data feed is also available at www.alt5sigma.com. ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a tech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visit www.alt5sigma.com . Contact: Andre Beauchesne Tel. 1-800-204-6203 info@alt5sigma.com For more information on ALT 5 Pay, visit www.alt5pay.com. For more information on ALT 5 Pro, visit www.alt5pro.com. SOURCE: ALT 5 Sigma Inc. View source version on accesswire.com: https://www.accesswire.com/603929/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Uncertainty Surrounds Microsoft's Potential TikTok Acquisition: Conflicting reports are coming in about TikTok selling its U.S. stake to Microsoft Corporation (NASDAQ: MSFT ) to avoid a possible ban. What Happened: Reuters said on Saturday that ByteDance had agreed to sell its U.S. stake in TikTok to Microsoft, though neither company confirmed it. Later in the day, WSJ reported that the talks on the deal are on hold due to the opposition from White House. In remarks made on Air Force One, President Donald Trump vehemently opposed the idea and rejected talk of allowing a sell-off. He even suggested invoking emergency executive orders to shut down the app in America. Why It's Important: ByteDance previously wanted to hold on to a small stake in TikTok, which the White House rejected. The proposed deal reported this weekend would mean that ByteDance would have to completely forego its stake in TikTok and Microsoft would take over completely. What's Next: On Twitter, U.S. general manager of TikTok, Vanessa Pappas said: "Tiktok is not going to go anywhere," and assured its 100 million followers that they can continue to use the platform to carry on with their creative pursuits. Even if ByteDance agrees to a completely forego in its U.S. stake in TikTok, the future of the Chinese app is uncertain after the intervention in the deal by White House. Related Links: TikTok Is On The Clock As Trump Threatens Ban, Microsoft Mulls Acquisition See more from Benzinga Salmonella Outbreak Linked To Red Onions: FDA Bitcoin Crosses ,400 Mark, Beats Major Indexes In July Gains General Motors Teases GMC Hummer EV In Foray Into Electric Truck Race © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The U.S Stimulus Package and U.S – China Tension Puts the Dollar in the Spotlight: It’s was a relatively busy start to the day on theeconomic calendarthis morning. The Kiwi Dollar and economic data from China were in focus in the early part of the day.
Away from the economic calendar, updates on the U.S stimulus package continued to be an area of focus as the markets also responded to Friday’s U.S non-farm payroll numbers.
On the geopolitical risk front, rising tension between the U.S and China was also of influence.
The ANZ Business Confidence Index fell from -34.4 to 42.4 in July.
According to the latestANZ Report,
• A net 17% of firms expect weaker economic activity in their own business, falling from -8.9% in July.
• Export intensions fell from -12.7% to -18.50%, with investment intentions falling from -6.7% to -15.1%.
• Profit expectations weakened from-26.6% to -32.2%, with employment intentions declining from -15.1% to -21.4%.
The Kiwi Dollar moved from $0 66029 to $0.66012 upon release of the figures. At the time of writing, theKiwi Dollarwas up by 0.02% to $0.6606.
China’s annual rate of inflation picked up from 2.5% to 2.7% in July, coming in ahead of a 2.6% forecast. Month-on-month, consumer prices rose by 0.6%, following a 0.1% decline in June. Economists had forecast a 0.4% rise.
Year-on-year, the producer price index fell by 2.4%, following a 3% decline in June. Economists had forecast a 2.5% slide.
The Aussie Dollar moved from $0.71620 to $0.71673 upon release of the figures. At the time of writing, theAussie Dollarwas up by 0.15% to $0.7168.
At the time of writing, theJapanese Yenwas up by 0.13% to ¥105.78 against the U.S Dollar.
It’s a quiet day ahead on theeconomic calendar. There are no material stats to provide the EUR with direction.
A lack of stats will leave the EUR in the hands of market risk sentiment on the day. The U.S stimulus package and tensions between the U.S and China will remain key drivers.
At the time of writing, theEURwas up by 0.07% to $1.1795.
It’s also a quiet day ahead on theeconomic calendar, with no material stats due out to provide direction.
Updates on Brexit and market risk sentiment will be the key drivers for the Pound.
At the time of writing, thePoundwas up by 0.16% to $1.3073.
It’s a relatively quiet day ahead for the U.S Dollar. Key stats include June’s JOLT’s job openings.
While we will expect some influence from the numbers, chatter from the Oval Office will need monitoring.
At the time of writing, theDollar Spot Indexwas up by 0.06% to 92.848.
After a quiet day ahead, with no material stats to provide the Loonie with direction.
Any retaliatory moves by Canada and China against Trump’s latest actions would be a test for crude oil and the Loonie.
Positive economic data from last week, however, from the U.S and the EU should limit any major downside.
At the time of writing, theLooniewas up by 0.07% to C$1.3374 against the U.S Dollar.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• AUD/USD and NZD/USD Fundamental Weekly Forecast – RBNZ Aims to Keep Monetary Policy Unchanged || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 6, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
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ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
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View source version on accesswire.com:https://www.accesswire.com/605025/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Flash Crash: Bitcoin Price Slides by $1.4K in Minutes: Bitcoin suffered a price drop of $1,458 in under an hour on Sunday. The sudden slide caught many traders off guard, forcing out a significant amount of buying pressure from the market. The biggest cryptocurrency by market value fell from $11,969 to $10,659 in 10 minutes at 04:45 UTC, having reached an 11-month high of $12,118 at 04:00 UTC, according to CoinDesk’s Bitcoin Price Index . The sudden price drop has liquidated nearly $1.4 billion worth of positions across major exchanges, as noted by derivatives data provider Bybt. The price drop triggered $144 million worth of sell liquidations or forced closure of long positions on BitMEX, the highest since May 10, according to data source Skew. The Seychelles-based exchange also registered buy liquidations or forced closure of short positions worth $7.6 million. Within the previous 24 hours, at least 72,422 positions were liquidated , with the largest, that of $10 million, occurring on BitMEX. Nearly 95% of BitMEX liquidations were long positions – a sign the leverage was skewed to the bullish side – which isn’t surprising given the cryptocurrency recently charted a bullish breakout with a move above $10,500. At press time, the cryptocurrency was trading near $11,031, representing a 5.5% drop on a 24-hour basis. Prices are still up nearly 57% on a year-to-date basis. Ether (ETH) also fell a little more than 20% moments after reaching an 11-month high of $415.71. It was trading $361.67 as of press time, which nonetheless represented a 1% gain in 24 hours. Related Stories Flash Crash: Bitcoin Price Slides by $1.4K in Minutes Flash Crash: Bitcoin Price Slides by $1.4K in Minutes Flash Crash: Bitcoin Price Slides by $1.4K in Minutes Flash Crash: Bitcoin Price Slides by $1.4K in Minutes || CFTC files charges against four defendants in bitcoin investment fraud suit: The Commodity Futures Trading Commission said Monday that it had charged three Texas residents and one Florida resident for their role in defrauding investors of nearly $1 million via an alleged bitcoin investment fraud scheme.
The agency allegedthat Joel Castaneda Garcia, Mayco Alexis Maldonado Garcia, Cesar Castaneda, and Rodrigo Jose Castro Molina "falsely represented to actual and potential customers that their business, named Global Trading Club (GTC), employed 'master traders' who had years of experience trading 'crypto currency,' and used 'cutting edge trading robots' to trade Bitcoin for customers '24 hours a day, 7 days a week.'"
"Customers were also falsely promised a bonus for referring others, in the form of a multi-level marketing scheme. To conceal their fraud, the defendants caused misleading trading statements to be posted online," the agency went on to explain.
In sum, 27 investors were impacted by the fraud, taking in "at least $989,000" from those participants.
"The CFTC seeks disgorgement of ill-gotten gains, civil monetary penalties, permanent registration and trading bans, and a permanent injunction against further violations of the Commodity Exchange Act and the Commission’s regulations, as charged," the agency said.
The Global Trading Club brand has previously been identified as a multi-level marketing or Ponzi scam, facilitated by enticing would-be investors with outsized gains. As outlined byBehindMLM.comin a 2016 post, Global Trading Club operates as an affiliate marketing structure whereby participants are encouraged to bring in additional investors — and their funds — into the scheme.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || How the Bitcoin Blockchain Is Being Used to Safeguard Nuclear Power Stations: Nuclearis, a manufacturer of precision mechanical components for the nuclear industry, is using the Bitcoin blockchain to verify the manufacturing blueprints of parts that make up nuclear power reactors.
Announced Tuesday,Nuclearis, which is headquartered in Buenos Aires, Argentina, and has offices in the U.S. and China, is using the Bitcoin-powered RSK blockchain as an immutable anchor, keeping tabs on critical documents. The firm has open-sourced the framework so other players in the nuclear industry can use it.
It’s not the first time blockchain tech has been leveraged within the nuclear industry. Estonia’sGuardtime has been using its own version of DLTfor some time to distribute data as a way to prevent cyberattacks on nuclear infrastructure. There have also beenprojects using blockchainto track the uranium fuel supply chain and also track what happens to nuclear waste.
Related:Market Wrap: Bitcoin Breaks $12K; Uniswap Crosses $1.5B Locked
Read more:No More Nuclear: Japan’s Biggest Utility Turns to Blockchain in Power Pivot
Safety is everything when it comes to nuclear. The track and trace use case for manufacturing documents is important because there have been forgeries in the past, where antiquated nuclear reactors have opted for shortcuts to revamp equipment (a high-profile caseof this sort went through the courts in France in 2016.)
Some 150 new reactors are set to be built over the next 30 years and the “NuclearTech” space is all about instilling trust within the operators of nuclear power plants, said Nuclearis CTO Sebastian Martinez.
“Part of the problem is that there are many intermediaries in this supply chain and parts of it are still paper-based,” said Martinez. “We hash the manufacturing documents and upload to the blockchain at the point of creation of the steel part. Months or even years later, when we deliver the part, the power plant can check if everything digitally matches.”
Related:First Mover: Rookie YFI Token Jumped 8-Fold in August as DeFi Dominated
Nuclearis, which is working with Argentina’s three power plants – Atucha I, Atucha II and Embalse – said the Argentine government and the country’s main operator of nuclear power plants, Nucleoeléctrica Argentina, are looking to adopt its blockchain system.
Read more:California Agency Backs Green-Energy Pilot Using RSK’s Bitcoin Smart Contracts
The RSK blockchain developed with consultancyIOV Labsuses a process called “merged mining” to run a sidechain on the Bitcoin blockchain and harvest the hash power of the largest cryptocurrency.
“The immutability and security that blockchain provides are of the most importance for the nuclear industry,” IOV Labs CEO Diego Gutierrez Zaldivar said in a statement. “We are very excited about Nuclearis’ solution in that industry and thrilled they have chosen RSK blockchain and RSK Infrastructure Framework (RIF) technologies for its development.”
The RSK-based platform now in use is only for tracking the provenance of new parts, but there are lots of interesting use cases going forward around areas like decommissioning of parts, Nuclearis said.
“If you replace something like a pump from a primary circuit that has been radioactive for the last 50 years, you have to decommission it, get it out of the reactor and dismantle it,” said Martinez. “Traceability of that stuff is very important so it doesn’t turn up on some black market, or worse, finds its way into a dirty bomb.”
• How the Bitcoin Blockchain Is Being Used to Safeguard Nuclear Power Stations
• How the Bitcoin Blockchain Is Being Used to Safeguard Nuclear Power Stations || bitFlyer Now Offers Cryptocurrency Exchange to Hawaii, As Part of Pilot Program to Promote Innovation: HONOLULU, HI / ACCESSWIRE / August 19, 2020 / bitFlyer USA , has announced that its cryptocurrency exchange will soon be available to customers in Hawaii. The exchange will be offered in the Hawaii through the newly formed Digital Currency Innovation Lab, a partnership formed between the state of Hawaii's Department of Financial Institutions and Hawaii Technology Development Corporation (HTDC). The pilot program is the first regulatory sandbox of its kind in the state and will allow cryptocurrency service providers to do business in Hawaii without obtaining a state money transmitter license for a period of two years. Hawaii residents will now have the ability to easily buy and sell bitcoin and other cryptocurrencies with USD through bitFlyer's intuitive "Direct Buy/Sell" platform, as well as their iOS or Android mobile apps. Additionally, bitFlyer Lightning, the exchange's professional-grade trading platform, is available for sophisticated traders and institutional investors. Yuzo Kano, CEO / Founder of bitFlyer USA, said: "Since many Japanese people live in or travel to Hawaii, it is the state that serves as a bridge between Japan and the US. Offering our service here is very significant as an exchange that originates in Japan. We are very happy to see Hawaiians using the world's best cryptocurrency exchange." As the only exchange in the world licensed to operate in the US, Japan, and Europe, and the fourth exchange to receive the New York BitLicense, bitFlyer has been at the forefront of regulatory partnerships since its founding, and is excited to join the State of Hawaii in promoting innovation. The program will create a secure environment for Hawaii residents looking to access cryptocurrencies in a safe way, and will also provide regulators with the right tools and insights to develop thoughtful regulations. Len Higashi, acting executive director of HTDC, added, "We congratulate bitFlyer on its successful admission into the Digital Currency Innovation Lab. We look forward to its participation to create a more vibrant virtual currency community in Hawaii." Story continues The sandbox initiative marks the return of crypto exchanges to Hawaii, with the ultimate goal of seeing exchanges such as bitFlyer promoted to full licensees in the future. Joel Edgerton, COO of bitFlyer USA, said: "We are happy to partner with the State of Hawaii to bring our world-class services here. Now residents in Hawaii have access to a trusted, licensed exchange to support their Bitcoin and cryptocurrency trading." Launched in San Francisco in 2017, bitFlyer USA now operates in 48 states and territories. bitFlyer, Inc. was formed in Tokyo in 2014 and has been Japan's largest exchange by volume for many years, with millions of customers around the globe. About bitFlyer USA: bitFlyer USA is a subsidiary of bitFlyer Holdings, Inc., a leading bitcoin and blockchain company based in Japan. Its US office is located in San Francisco, California, where bitFlyer USA operates an exchange platform for US traders to buy and sell bitcoin and other digital currencies for US dollars safely, with low fees and latency. bitFlyer USA is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. CONTACT: Dan Edelstein pr@marketacross.com +972-545-464-238 SOURCE: bitFlyer View source version on accesswire.com: https://www.accesswire.com/602397/bitFlyer-Now-Offers-Cryptocurrency-Exchange-to-Hawaii-As-Part-of-Pilot-Program-to-Promote-Innovation
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 10246.19, 10760.07, 10692.72, 10750.72, 10775.27, 10709.65, 10844.64, 10784.49, 10619.45, 10575.97
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-07-20]
BTC Price: 665.68, BTC RSI: 51.83
Gold Price: 1318.80, Gold RSI: 50.93
Oil Price: 44.94, Oil RSI: 43.64
[Random Sample of News (last 60 days)]
Bitcoin 'miners' face fight for survival as new supply halves: By Jemima Kelly
KEFLAVIK, Iceland (Reuters) - Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins.
In the world of the web-based digital currency, it is not central banks that add new money to the system, but rather computers like Streng's which are awarded fresh bitcoins in return for processing blocks of the latest bitcoin transactions.
Bitcoin can be used to send money instantly around the world, using individual bitcoin addresses, free of charge with no need for third party checks, and is accepted by several major online retailers.
The work Streng's computers and others do serves two purposes: they record and verify the roughly 225,000 daily bitcoin transactions and - because they earn new bitcoins for the work they do - steadily increase the currency in circulation, currently worth around $10 billion.
The process has come to be known as "mining" because it is slow and intensive, reaping a gradual reward in the same way that minerals such as gold are mined from the ground.
But on Saturday, the reward for miners will be slashed in half. Written into bitcoin's code when it was invented in 2008 was a rule dictating that the prize would be halved every four years, in a step designed to keep a lid on bitcoin inflation.
From around 1700 GMT on Saturday, instead of 25 bitcoins up for grabs globally every 10 minutes, worth around $16,000 at the current rate (BTC=BTSP), there will be just 12.5.
That means only the mining companies with the leanest operations will survive the ensuing profit hit.
"The most important thing is to be the most efficient miner," said Streng, the 26-year-old co-founder of German firm Genesis Mining, which has "mining farms" in Canada, the United States and eastern Europe, as well as in Iceland. "When the others drop out, that means that they leave the market and give you a bigger share of the pie."
SOLVING PUZZLES
The currency was founded eight years ago by a person or group using the name Satoshi Nakamoto, whose real identity has not been established. It was set up to operate independently of any single authority, instead relying on a decentralized global network.
Because the bitcoin miners operate autonomously, it is hard to track their numbers and size. But in terms of computing capacity it was estimated earlier this year that the network is 43,000 times more powerful than the world's top 500 supercomputers combined.
Computers like Streng's solve complex, automatically generated mathematical puzzles to help secure each block of transactions and keep the bitcoin network safe from hacking or manipulation. For bitcoin users, that security is one of the currency's main attractions.
After the first miner secures a block of transactions, its work is verified by the other miners in the network, and that block is added to the "blockchain" - a shared record of all the transaction data - which is virtually impossible to tamper with. The mining, therefore, keeps the whole system going.
Bitcoin is now accepted by major organizations including U.S. online retailer Overstock.com and travel company Expedia.
The speed and anonymity of bitcoin transactions, and lack of a central authority overseeing the currency, has drawn in many users, including those who want to get around capital controls. It has also attracted investors who see it as a potentially lucrative commodity in itself.
KEEPING COOL
Bitcoin mining started out as a hobby for tech geeks using their home computers in the early years of the virtual currency, but has become more specialized as bitcoin usage expands.
As the bitcoin price has risen, as transaction numbers have grown and as the computers have become so specialized that they can only perform the function of bitcoin mining, a whole industry has emerged.
It can be profitable if firms are able to keep their expenses low. But the costs of running these machines, which cost around $1,800 each, and keeping them cool are fiendishly high.
Streng reckons that, on average, it costs about $200 in electricity, including cooling power, to mine one bitcoin. Equipment, rent, wages and business running costs are on top.
On Saturday, all else being equal, the halving of the reward will double that cost, to $400, leaving a small margin for profit at the current exchange rate of around $640 per bitcoin.
In the same remote region of Iceland as the Genesis mining farm, on a former Cold War U.S. military base lies a bitcoin mining facility belonging to U.S. firm Bitfury. A nearby sub-station means electricity transmission costs are minimal.
In the farm's two vast buildings, tens of thousands of mining machines whir away, producing a huge amount of heat, so the buildings are open to the cold Icelandic air at either side, save for particle filters to trap dust.
Fans in the ceiling allow hot air to escape, but spin so fast that no rain or snow can enter during the winter. The noise produced by computers and fans is deafening.
It is no coincidence that so many mining companies have chosen to build farms in Iceland - Chinese giant Bitmain also has a huge farm there. The volcanic island's cheap, bountiful, renewable energy supply, good internet connectivity, and cool temperatures make it an ideal location.
The Icelandic authorities welcome the boost to the economy that the bitcoin miners have brought -- Bitmain opened its farm after an approach by the Icelandic embassy in Beijing. Genesis's Streng says he is such a valued client that the Icelandic energy companies fly him around in helicopters.
Bitfury CEO Valery Vavilov, who estimates electricity makes up between 90 and 95 percent of bitcoin mining costs, says one way his firm stays competitive is by making its own hardware.
He also says the company, founded in 2011, is prepared for the mining reward cut. "We're prepared - we already went through one halving event in 2012," he said. "You can forecast this...so you have time to prepare, and if you're prepared you can live quite easily."
Vavilov, and other miners, say the prospect of new supply halving has already helped drive bitcoin up over 50 percent this year, which should help ease the pain.
COMPETITION FROM CHINA
Despite the fact that the halving was expected, and that the price has risen, it has already claimed one casualty: Sweden's KnCMiner filed for bankruptcy at the end of May, citing the hit to its profits that the reward cut would bring.
Daniel Masters, who runs a Jersey-based bitcoin hedge fund and who bought a part of KnC's business, said the Swedish firm, like everybody else, had faced competition from miners in China, which are estimated to make up more than two-thirds of the bitcoin network's computing power, or "hashpower".
"It turned out that the Chinese, who really stormed into the mining market in the last couple of years, could just do this whole thing cheaper," Masters said.
Some Chinese miners get hydroelectric power from disused dams, while others use cheap coal-powered electricity.
Bitfury and Genesis, though, say their lean operations allow them to fight off the competition. Genesis, for example, keeps cost down by remotely monitoring conditions in its mining farms and adjusting its fans and cooling accordingly.
And the next time the mining reward is halved, in 2020, they hope the number of bitcoin transactions will have grown sufficiently to mean that the small fees paid by users will make up enough of their income to smooth out the profit cut.
"By 2020 we will definitely have had the tipping point," said Bitfury's Vavilov.
(Reporting by Jemima Kelly; Editing by Dominic Evans) || Understanding What Bitcoin & Gold Have In Common in Financial Markets: DailyFX.com - Talking Points: Is It Time To Take Bitcoin Seriously? How Can Understanding Bitcoin Help Traders Interested In The Direction of Spot Gold? Following BTC/USD “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.” -Satoshi Nakamoto, November 1, 2008 To receive Tyler’s analysis directly via email, please SIGN UP HERE The cryptocurrency Bitcoin appears to be back in a big way. Calling Bitcoin ( Trading View Ticker: BTCUSD ) a cryptocurrency can be enough to make most people turn the page in search of a lighter read. However, a quick introduction can help you see how this innovative coin that is now ~7.5 years old has gone from a coder’s coin and known by only a few hobbyists to an asset class in a class of itself. Understanding What Bitcoin & Gold Have In Common in Financial Markets Is It Time To Take Bitcoin Seriously? Only a handful of people have been following Bitcoin since the creator, Satoshi Nakamoto introduced and explained how and why Bitcoin could work first introduced the digital asset on the cryptography mail archive. However, now many people have at least heard of the Bitcoin though few fully grasp the implications of both commerce and financial markets if Bitcoin can hit the proverbial ‘Tipping Point.' Regardless of whether or not we’ve hit the tipping point, it is worth taking Bitcoin seriously as it has not only stood the test of time, but the technology that is underlying BTC, the blockchain, has garnered the attention of Goldman Sachs, Citibank, JPMorgan, BNP Paribas and many more as the ‘Next Big Thing’ in Financial Markets. Developed markets with some of the most distraught monetary managers like Brazil have recently seen Bitcoin Trading surpass Gold trading per Cryptocoin News. Make no mistake; some will call Bitcoin a fad who will fade away into the oblivion of Financial Innovation in a similar fate of Adjustable Rate Mortgages, while others will say the Bitcoin has and will continue to change everything. While I lay to closer to the ‘Change Everything’ extreme, it has yet to be fully adopted, and likely will not be fully adopted as a replacement of fiat currency for multiple reasons. Story continues At the top of the list for reasons a developed economy would refuse to adopt Bitcoin over the local currency is that the global amount of BTC is fixed at 21 million bitcoins, with ~14 million in existence today. That means if the economy is to grow, the government would need to spend less, and save more in order to buy BTC to build the economy or tax citizens on the BTC they hold, which is inherently difficult. However, it would be an unlikely event to see governments willingly give-up the desire to print and tax in hopes of re-election. How Can Understanding Bitcoin Help Traders of Spot Gold? Understanding What Bitcoin & Gold Have In Common in Financial Markets This section could have easily been titled, how I came to respect Bitcoin. It is hard to say that we’ll look back on the creation of the Bitcoin in the same light as the Guttenberg press or the Internet, it’s fair to say that it inspires the same ‘Animal Spirits’ that causes Gold (CFD: XAUUSD) to go bid when investors look for a haven asset as a store of value. It doesn’t appear to be coincidence when that Bitcoin came onto the seen as banks were being bailed out as the initial or genesis block with the first transaction referenced a Times article dated 03/01/2009 titled, ‘Chancellor on Brink of Second Bailout for Banks.’ A few days later the source code of Bitcoin was released by Satoshi. Either way, the spirit behind buying gold and buying bitcoin appears to be very similar. In a ‘doomsday scenario’ where you desire an asset to hold value while other fiat-priced assets are plummeting in value, BTC like Gold is ideal for bartering. The difference is that BTC can allow bartering to be done digitally thanks to the blockchain (more on that in a later post for the geeks out there like myself), whereas gold would most likely be bartered face-to-face in the event of an economic collapse. As you can see on the chart above, this mutual symbiotic relationship can be seen with an overlay of Gold (CFD: XAUUSD) and BTCUSD. As a note, FXCM does not provide liquidity for Bitcoin, but its development and price direction can be invaluable for seeing another market in the same spirit as Gold that can enhance your analysis on precious metals. [Warning: A Bit of Technical Info Ahead] One last note before moving on (kudos for reading this far), Bitcoin’s network and maintenance is what sets it apart from fiat currencies, and places it in a similar league as precious metals such as Gold. First, the ledger, known as the blockchain is considered trustless in that it must be verified my multiple nodes called miners that verify, validate Bitcoin transactions. Typically, this is done by a bank, which acts as a one trusted third-party (see opening quote from Satoshi,) whereas Bitcoin utilizes a distributed network of miners to confirm transactions so there cannot be a single point of failure or misuse as we’ve seen with Rogue Traders or Bank Executives cheating out bondholders/ equity holders. Lastly, the base algorithm is cryptographic and is known as an asymmetric encryption that allows public and private keys to validate a transaction that is then validated by the network. In this manner, Bitcoin is allowed to act as a digital barter currency without the need for banks and helps to accomplish what Gold has accomplished for millennia by acting as a store of value in bad times and good times, and accepted at all times if the price is right. [You May Now Turn-Off Your Hard Thinking Cap] Following BTC/USD Understanding What Bitcoin & Gold Have In Common in Financial Markets Lucky you, DailyFX will begin covering Bitcoin. Historically , we’ve covered Bitcoin in relation to sharp price increases in the wake of Brexit or the Eurozone crisis, or the Yuan Devaluation. However, given the correlation of XAUUSD & BTCUSD and the rising popularity of BTCUSD, we felt you’d be interested in learning more about the development of this pseudo-currency / neo-haven asset as it turns toward its awkward growth years of potential adaptability into everyday utilization. If you’re interested in seeing price trends of Bitcoin, the best place to keep an eye on these moves throughout the day is the DailyFX Chart Page where you can keep an eye on BTCUSD or BTCEUR if you wish. However, if you’re keeping an eye on BTC trends in the desire to get a better understanding on the price direction of Gold, it’s likely best to look at BTCUSD. Both BTCUSD & Gold (CFD: XAUUSD) are priced in US Dollar so that a big move in the US Dollar can heavily influence both assets. Thank you for your time, and we look forward to providing you with more information on this new type of currency where a desire for haven digital assets and technology meet. Happy Trading & Please Let Me Know If You Have Any Questions T.Y. original source DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from FXCM . || U.S. tech company files bitcoin ETF application with SEC: (Adds byline, details on insurance, custodian bank, background on bitcoin, SolidX)
By Gertrude Chavez-Dreyfuss and Nikhil Subba
NEW YORK, July 12 (Reuters) - SolidX Partners Inc, a U.S. technology company that provides blockchain services, on Tuesday filed an application with the Securities and Exchange Commission to launch an exchange-traded product that tracks the price of bitcoin.
Blockchain is the technology that powers bitcoin, the digital currency. SolidX provides blockchain-based software relating to the recording of digital records, transfer of assets, and identity, according to its website.
The ETF product will be called SolidX Bitcoin Trust and will list on the New York Stock Exchange under the ticker symbol XBTC upon regulatory approval, SolidX Partners said on Tuesday.
SolidX is the second company to file for a bitcoin exchange-traded product with the U.S. regulator. The Winklevoss Bitcoin Trust, owned by brothers Cameron and Tyler Winklevoss, filed the first bitcoin ETF application three years ago.
In its SEC filing, SolidX said it will provide investors with exposure to the daily change of the U.S. dollar price of bitcoin. The value of bitcoin will be based on the price tracked by XBX, an index created by TradeBlock, a financial services company.
Bitcoin is a digital asset launched in 2009 that can be transferred among parties through the internet without the use of a central administrator or clearing agency. Its blockchain has gained global popularity due to its perceived usefulness in recording and keeping track of assets across practically all industries.
The exact size of the offering was not disclosed, but based on the filing, the company said the ETF will issue a basket of 10,000 shares.
Bank of New York Mellon has been tapped as the custodian of the cash held by SolidX Bitcoin Trust, while SolidX Partners will be responsible for the ETF's bitcoin holdings.
SolidX, in its ETF filing, said the bitcoin it will hold will be insured. The insurance will cover the loss of bitcoin through theft, destruction, or computer fraud.
Bitcoin's value has been highly volatile, having peaked at over $1,200 in late 2013 before crashing after the collapse of the Mt. Gox bitcoin exchange.
It has since recovered, hitting a more than two-year high of nearly $780 in the run-up to the British referendum on whether the country should leave the European Union. On Tuesday, bitcoin traded at $662.44 on the Bitstamp platform.
(Reporting by Gertrude Chavez-Dreyfuss in New York and Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila and Chris Reese) || Bitcoin hits two-year high as yuan worries drive Chinese demand: By Jemima Kelly LONDON (Reuters) - The price of the web-based digital currency bitcoin soared to its highest in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the yuan drove increased demand from China. Trading volumes on the Chinese bitcoin exchange BTCC surged to three to five times their daily average since Friday, according to CEO Bobby Lee, as Chinese savers have moved to protect their money against a further devaluation of the yuan. Bitcoin is a web-based "cryptocurrency" that can move money across the globe quickly and anonymously with no need for a central authority. That makes it attractive to those wanting to get around capital controls, such as China's. Around 95 percent of all bitcoin trading is done via Chinese exchanges, according to industry website Coindesk, so any increase in demand from the Asian super-power tends to have a particularly significant impact. The yuan weakened to a 4 1/2-month low on Tuesday and recorded its second-biggest monthly fall on record in May. Investors reckon it will weaken further, given growing expectations for an increase in U.S. interest rates and signs that China's credit-fuelled economy is slowing again. "People are worrying about the PBOC (People's Bank of China) devaluing the yuan," BTCC's Bobby Lee said from Hong Kong. "If you're in China and you're holding onto that yuan, that's a huge risk, so they're buying into hard assets ... Bitcoin is something that is very easily traded into, so that's what's happening." Despite being championed by some as the digital money of the future, bitcoin is often dismissed as too volatile to invest in. After rocketing above $1,100 in 2013, it then fell to around $150 in early 2015. But it has since recovered, and was the best-performing currency in 2015. Bitcoin hit $548.50 on the Bitstamp exchange on Tuesday, its strongest since August 2014, leaving it up over 20 percent in the past week. With around 15.5 million bitcoins now in circulation, that puts the currency's total value, or its "market cap", at around $8.5 billion -- about the same size as Anglo American, a global FTSE 100 mining company. Lee added that on his Chinese exchange, the price of bitcoin had at one point rallied above 4,000 yuan, or over $600. That was a sign investors sensed that the yuan was being artificially supported by the PBOC, he said. NEW SUPPLY HALVING Another reason given by bitcoin experts for the currency's latest surge is that in 40 days' time, the number of new bitcoins that are added to the system every day will be halved. By the principles of supply and demand, that slower growth in supply should raise the value of the currency. Instead of being controlled by a central bank, bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and thereby clear the transactions is currently rewarded with 25 new bitcoins, worth around $13,500. But when it was invented in 2008 by the mysterious "Satoshi Nakamoto", the code was designed so that the reward would be halved roughly every four years, in order to keep a lid on inflation. The next time that is due to happen is July 10. "Bitcoin is days away from a reduction in its block reward, which will halve the daily supply coming onto the market," said Charles Hayter, CEO of London-based digital currency analysis website CryptoCompare. Hayter added that after months of struggles over how to upgrade the software run by the computers that process bitcoin transactions, dubbed the "bitcoin civil war, developers appeared to be reaching a consensus, which was also helping support the currency. "Bitcoin is emerging battle-hardened after a period of divisive governance issues and politics," he said. "Although not fully laid to rest, calmer waters look to be on the horizon as consensus on how to scale the network is appearing." (Reporting by Jemima Kelly; Additional reporting by Sujata Rao; Editing by Larry King) || Former U.S. Secret Service agent suspected in additional Bitcoin thefts: By Joseph Menn SAN FRANCISCO (Reuters) - A Secret Service agent who stole money seized by the government in the investigation of underground drug bazaar Silk Road is now suspected of stealing money in at least two other cases, according to court filings unsealed on Thursday. In the larger of those cases, he is thought to have been behind the theft of about $700,000 worth of Bitcoin from a Secret Service account three months after the agency was urged to block his access, the documents say. Former agent Shaun Bridges pleaded guilty last year and was sentenced in December to nearly six years in prison for stealing more than $800,000 of the crypto currency Bitcoin during the Silk Road investigation. According to an affidavit unsealed Thursday, the Justice Department learned in April 2015 that Bridges might have kept a private cryptographic key giving him access to a Bitcoin wallet with the $700,000 in currency that the Silk Road task force had seized in 2014. The department urged the agency to move the funds elsewhere. “Unfortunately, the U.S. Secret Service did not do so and the funds were thereafter stolen, something the U.S, Secret Service only discovered once it was ordered by a court to pay a portion of the seizure back to affected claimants,” a team of prosecutors wrote in an accompanying motion. The Bitcoin in question was moved in July 2015 but only discovered missing in December, the affidavit said. The Secret Service and Bridges' attorney Steven Levin declined to comment. In the previous case, Bridges admitted he stole money from Silk Road accounts and framed someone else for it, leading Silk Road chief Ross Ulbricht to plan a murder. Ulbricht is now serving a life sentence. (Reporting by Joseph Menn; Editing by Cynthia Osterman) || These are the most common misconceptions about the fintech industry: FintechShapingtheFuture (Shutterstock) The fintech industry promises to shake up the financial world, but the public might have some misconceptions about just how that will happen. Fintech is surely disruptive and revolutionary, but is it truly a group of startups threatening to destroy traditional financial institutions as we know them? Not according to Tradestreaming , which has compiled a list of the biggest misconceptions about the fintech industry. 1) Wall Street will not fall because of it. The public's distrust for Wall Street and legacy financial players has reached unprecedented levels, but don't expect fintech to ride in like a white knight and change all that. The finance world is losing some jobs and financial apps are growing in popularity, but these apps are nowhere close to a real threat to taking the place of banks in our economy. Instead, the fintech companies are helping legacy players evolve. 2) Banks are not being replaced. Brick-and-mortar banks are becoming less important, particularly among millennials, but they are far from dead and buried. A recent report from the The Institute of International Finance discovered that compliance and regulatory activities can cost banks $1 billion per year, which means it's far too difficult, expensive, and labor intensive for startups to compete with banks head-to-head. As a result, fintech companies have decided to compliment banks rather than fight them. 3) Fintech startups are flashy. The word "startup" conjures images of Silicon Valley, flowing cash, and fame. But fintech startups are anything but sexy, as these companies spend significant time and money to figure out ways to deal with state and federal regulations. Tradestreaming notes that an estimated 10-15% of total human capital costs go toward compliance. Along with that, they must work tirelessly to bring on new clients, a challenge unto itself. 4) Fintech is not the ultimate equalizer. Many view fintechs as an equalizer that gives powerful technology to the unbanked and underbanked, which in turn closes opportunity gaps. If everyone has access to cutting-edge financial technology, then the rich and elite wouldn't hold all the cards, right? Story continues That's only true to a degree, as some apps have provided automated tools (such as robo-advisors) for the common man, but these tools typically only go as far the amount of money you pay for them. Yet even with all these misconceptions, we’ve still entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs. This change will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes: Traditional Retail Banks vs. Online-Only Banks: Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees Traditional Lenders vs. Peer-to-Peer Marketplaces : P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful Traditional Asset Managers vs. Robo-Advisors : Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for. As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company. After months of researching and reporting this important trend, Evan Bakker, research analyst for BI Intelligence , Business Insider's premium research service, has put together an essential report on the fintech ecosystem that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like: Retail banking Lending and Financing Payments and Transfers Wealth and Asset Management Markets and Exchanges Insurance Blockchain Transactions If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable. Among the big picture insights you'll get from The Fintech Ecosystem Report : Measuring the effects of technology on the entire financial services industry: Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management. The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own. Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers. Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources. The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely. This exclusive report also: Explains the main growth drivers of the exploding fintech ecosystem. Frames the challenges and opportunities faced by incumbents and startups. Breaks down global and regional fintech investments , including which regions are the most significant and which are poised for the highest growth. Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech Explains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it. Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities. And much more. The Fintech Ecosystem Report : Measuring the effects of technology on the entire financial services industry is how you get the full story on the fintech revolution. To get your copy of this invaluable guide to the fintech revolution, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology. More From Business Insider Bitcoin may be headed for a bubble Seedrs bets on secondary market Lending Club may have hit a dead end || EU proposes stricter rules on Bitcoin, prepaid cards in terrorism fight: By Foo Yun Chee STRASBOURG (Reuters) - The European Commission proposed on Tuesday stricter rules on the use of virtual currencies and prepaid cards in a bid to reduce anonymous payments and curb the financing of terrorism. Virtual currency exchange platforms will have to increase checks on the identities of people exchanging virtual currencies, such as Bitcoin, for real currencies and report suspicious transactions. Under the Commission's proposals the threshold for making anonymous payments with pre-paid cards was lowered to 150 euros ($167.28) from 250 euros. "Member states will be able to get and share vital information about who really owns companies or trusts, who is dealing in online currencies, and who is using pre-paid cards," EU Commission First Vice-President Frans Timmermans said. Following attacks in Paris last November by Islamic State militants the EU executive said it would step up measures to cut off terrorists' access to funds. French authorities have proved that pre-paid cards were used by the Paris attackers. Prepaid cards are issued by a wide range of operators including banks using major networks, such as Visa and MasterCard. They are different from debit and credit cards because they need to be loaded before payments can be made, but can carry substantial amounts of money. MasterCard said it supported the Commission's objective of strengthening the security of prepaid cards while ensuring that people less well-off could still use them. The proposed higher controls on virtual currencies and pre-paid cards "are important in tackling black market and terrorist financing", said Chas Roy-Chowdhury, head of tax at ACCA, which represents the interests of the accountancy sector. The Commission proposed increasing the amount of checks banks have to carry out on financial flows from risky third countries, namely states with poor anti-money laundering rules and difficulties countering terrorism financing. In a bid to end tax evasion after the publication in April of the Panama Papers - which revealed widespread tax avoidance practices by wealthy individuals - the Commission also proposed rules requiring the beneficial owners of trusts to be recorded in registers that in many cases will be accessible to the public. Story continues Existing and new accounts will be subject to due diligence controls and the Commission will look into finding effective ways for each member state to share information on beneficial owners of companies and trusts. "These proposals for public registers will be welcomed by citizens and anti-corruption activists who want to follow the trail of dirty money," Laure Brillaud, Transparency International EU policy officer, said. "However, we are concerned that it will be all too easy to evade being on the registers in the first place by gaming the rules on trusts. By simply nominating a non-EU resident as a trustee the secrecy can carry on as before," she added. Tuesday's proposals will need to be approved by the EU Parliament and EU states before they become law. ($1 = 0.8967 euros) (Writing by Julia Fioretti and Ines Kagubare; editing by Susan Thomas) || SolidX Reveals Plan to Launch a Bitcoin ETF: Earlier this week, blockchain technology provider SolidX revealed in a filing with the Securities and Exchange Commission (SEC) that is looking to launch an exchange traded fund based on the digital currency bitcoin. According to the S-1 filing, the trust will issue shares that represent units of ownership in the trust, with SolidX Management LLC acting as the custodian of bitcoin held by the trust. Bank of New York Mellon, in turn, will act as the administrator of the trust and custodian for its cash holdings, reports Pete Rizzo for CoinDesk. Related: Winkdex Bitcoin Index Debuts The filing from SolidX was revealed just days after it was reported that the Winklevoss Bitcoin Trust, the highly anticipated exchange traded fund sponsored by twin brothers Cameron and Tyler Winklevoss, when it comes to market, will trade on the Bats ETF Marketplace. It was previously expected that the Winklevoss Bitcoin Trust would trade on the Nasdaq. Trending on ETF Trends Grab Some Palladium Power With These ETFs A Bright Precious Metals ETF Outlook Investors: Dont Overreact to Bearish Oil Calls Some Analysts See a New Oil Bull Market Cotton ETN Grows on Tightening Inventories Bitcoin is a type of decentralized digital currency based on a peer-to-peer network and can be exchanged through computers internationally without a financial intermediary. The system was first introduced by developer Satoshi Nakamoto in 2009. The SolidX bitcoin offering, assuming it comes to market, will trade on the New York Stock Exchange under the ticker XBTC and will provide bitcoin pricing via the TradeBlock XBX Index. As noted by industry advocacy group Coin Center, a notable difference between the SolidX Bitcoin Trust and the competing Winklevoss Bitcoin Trust is that the former has secured insurance that would cover the loss or theft of bitcoins in the trust, reports CoinDesk. Related: Winklevoss Bitcoin ETF Will List on BATS In February 2014, Winklevoss Capital launched the Winkdex, a bitcoin index that will eventually be used for a planned bitcoin ETF, COIN, which was first proposed in 2013 but is still waiting on regulatory approval. Click here to read the full story on ETF Trends. || Bitcoin is the new safe-haven asset: Analyst: Bitcoin is becoming as safe a haven as gold, one investment analyst told CNBC.
The price of the cryptocurrency(: BTC=)has been rapidly rising in recent weeks. It traded above $730 per bitcoin at the end of last week, levels not since February 2014.
According to Chris Burniske, a blockchain analyst and products lead at investment manager ARK Invest, the cryptocurrency could be referred to as digital gold, as it shares many of the characteristics that makes the precious metal a great store of value.
"Bitcoin shares those same characteristics," Burniske told CNBC in a phone interview. "[Both have an] extremely limited supply and a relatively inert state. Bitcoin and gold can both be used: for example, gold is used in electronic circuits and bitcoin is used as payment.
While gold(Exchange: XAU=)has performed well in recent months, rising 20 percent year to date, Burniske suggested investors should also consider diversifying into bitcoin.
"When you look at the global markets, there's lots of fear, uncertainty and doubts. You've got people worrying about the equity markets [and] you've got people fleeing into bonds," he said. "While gold has had a bit of a run in 2016, over the last five year period it's been a terrible performing asset."
"So you've got people starting to wonder where there are safe havens to store their assets. I think you have lot of people saying 'Hey we want to diversify a little bit' making allocations to bitcoin'."
Some disagree that bitcoin should be considered a safe-haven asset. Vijay Michalik, research analyst at consultancy Frost & Sullivan, pointed out that bitcoin is still very volatile.
"Bitcoin is still such a new innovation that the economics of its value aren't fully understood, and the price looks likely to remain moderately volatile in the medium term," he told CNBC in an email.
"Volatility and the long-term unknowns involved in bitcoin's development stop it from being considered a safe-haven asset like gold. However, because bitcoin is unlinked to any one national currency or macroeconomic factor, it could be a good choice for portfolio diversification."
The recent rise in value of the digital currency is mainly due to anupcoming change which will see bitcoin miners make less moneyfor each block that they extract. This is likely to tighten the supply of bitcoins as fewer new coins enter the system.
"In early July, the annual rate of supply inflation will be cut from 8 percent to 4 percent. In basic economics, you cut the supply in half but demand continues to increase, which we're seeing with bitcoin," said Burniske.
But Burniske did highlight some risks facing the cryptocurrency in the near future.
"There's the risk of the developer community not being able to come to consensus on how they want to scale bitcoin. This has been talked about for the better part of the last year," he said.
"They have made a lot of progress; they are going to implement something called Segregated Witness and I think the network will scale."
Segregated Witness will reduce the size of each bitcoin transaction, thereby increasing the number of transactions that can be processed at any given time.
Another risk is to the security of the bitcoin's network.
"Part of the concern around the upcoming block award change is that if those miners make less money, then they are less incentivised to throw machinery at the network to secure it."
Meanwhile, gold remains a popular choice for investors looking for safety. Adrian Ash, head of research at investment gold service BullionVault, explained what advantages the precious metal has over other assets.
"Throughout civilisation gold has been viewed as a well-established safe haven used to store value by all cultures in all ages across the word and has never gone to zero in recorded history," he told CNBC in an email.
"As a physical asset gold cannot default or go bust and is protected by a strong property law which is simple, proven and universally understood."
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By Jemima Kelly
KEFLAVIK, Iceland, July 9 (Reuters) - Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins.
In the world of the web-based digital currency, it is not central banks that add new money to the system, but rather computers like Streng's which are awarded fresh bitcoins in return for processing blocks of the latest bitcoin transactions.
Bitcoin can be used to send money instantly around the world, using individual bitcoin addresses, free of charge with no need for third party checks, and is accepted by several major online retailers.
The work Streng's computers and others do serves two purposes: they record and verify the roughly 225,000 daily bitcoin transactions and - because they earn new bitcoins for the work they do - steadily increase the currency in circulation, currently worth around $10 billion.
The process has come to be known as "mining" because it is slow and intensive, reaping a gradual reward in the same way that minerals such as gold are mined from the ground.
But on Saturday, the reward for miners will be slashed in half. Written into bitcoin's code when it was invented in 2008 was a rule dictating that the prize would be halved every four years, in a step designed to keep a lid on bitcoin inflation.
From around 1700 GMT on Saturday, instead of 25 bitcoins up for grabs globally every 10 minutes, worth around $16,000 at the current rate, there will be just 12.5.
That means only the mining companies with the leanest operations will survive the ensuing profit hit.
"The most important thing is to be the most efficient miner," said Streng, the 26-year-old co-founder of German firm Genesis Mining, which has "mining farms" in Canada, the United States and eastern Europe, as well as in Iceland. "When the others drop out, that means that they leave the market and give you a bigger share of the pie."
SOLVING PUZZLES
The currency was founded eight years ago by a person or group using the name Satoshi Nakamoto, whose real identity has not been established. It was set up to operate independently of any single authority, instead relying on a decentralised global network.
Because the bitcoin miners operate autonomously, it is hard to track their numbers and size. But in terms of computing capacity it was estimated earlier this year that the network is 43,000 times more powerful than the world's top 500 supercomputers combined.
Computers like Streng's solve complex, automatically generated mathematical puzzles to help secure each block of transactions and keep the bitcoin network safe from hacking or manipulation. For bitcoin users, that security is one of the currency's main attractions.
After the first miner secures a block of transactions, its work is verified by the other miners in the network, and that block is added to the "blockchain" - a shared record of all the transaction data - which is virtually impossible to tamper with. The mining, therefore, keeps the whole system going.
Bitcoin is now accepted by major organisations including U.S. online retailer Overstock.com and travel company Expedia.
The speed and anonymity of bitcoin transactions, and lack of a central authority overseeing the currency, has drawn in many users, including those who want to get around capital controls. It has also attracted investors who see it as a potentially lucrative commodity in itself.
KEEPING COOL
Bitcoin mining started out as a hobby for tech geeks using their home computers in the early years of the virtual currency, but has become more specialised as bitcoin usage expands.
As the bitcoin price has risen, as transaction numbers have grown and as the computers have become so specialised that they can only perform the function of bitcoin mining, a whole industry has emerged.
It can be profitable if firms are able to keep their expenses low. But the costs of running these machines, which cost around $1,800 each, and keeping them cool are fiendishly high.
Streng reckons that, on average, it costs about $200 in electricity, including cooling power, to mine one bitcoin. Equipment, rent, wages and business running costs are on top.
On Saturday, all else being equal, the halving of the reward will double that cost, to $400, leaving a small margin for profit at the current exchange rate of around $640 per bitcoin.
In the same remote region of Iceland as the Genesis mining farm, on a former Cold War U.S. military base lies a bitcoin mining facility belonging to U.S. firm Bitfury. A nearby sub-station means electricity transmission costs are minimal.
In the farm's two vast buildings, tens of thousands of mining machines whir away, producing a huge amount of heat, so the buildings are open to the cold Icelandic air at either side, save for particle filters to trap dust.
Fans in the ceiling allow hot air to escape, but spin so fast that no rain or snow can enter during the winter. The noise produced by computers and fans is deafening.
It is no coincidence that so many mining companies have chosen to build farms in Iceland - Chinese giant Bitmain also has a huge farm there. The volcanic island's cheap, bountiful, renewable energy supply, good internet connectivity, and cool temperatures make it an ideal location.
The Icelandic authorities welcome the boost to the economy that the bitcoin miners have brought -- Bitmain opened its farm after an approach by the Icelandic embassy in Beijing. Genesis's Streng says he is such a valued client that the Icelandic energy companies fly him around in helicopters.
Bitfury CEO Valery Vavilov, who estimates electricity makes up between 90 and 95 percent of bitcoin mining costs, says one way his firm stays competitive is by making its own hardware.
He also says the company, founded in 2011, is prepared for the mining reward cut. "We're prepared - we already went through one halving event in 2012," he said. "You can forecast this...so you have time to prepare, and if you're prepared you can live quite easily."
Vavilov, and other miners, say the prospect of new supply halving has already helped drive bitcoin up over 50 percent this year, which should help ease the pain.
COMPETITION FROM CHINA
Despite the fact that the halving was expected, and that the price has risen, it has already claimed one casualty: Sweden's KnCMiner filed for bankruptcy at the end of May, citing the hit to its profits that the reward cut would bring.
Daniel Masters, who runs a Jersey-based bitcoin hedge fund and who bought a part of KnC's business, said the Swedish firm, like everybody else, had faced competition from miners in China, which are estimated to make up more than two-thirds of the bitcoin network's computing power, or "hashpower".
"It turned out that the Chinese, who really stormed into the mining market in the last couple of years, could just do this whole thing cheaper," Masters said.
Some Chinese miners get hydroelectric power from disused dams, while others use cheap coal-powered electricity.
Bitfury and Genesis, though, say their lean operations allow them to fight off the competition. Genesis, for example, keeps cost down by remotely monitoring conditions in its mining farms and adjusting its fans and cooling accordingly.
And the next time the mining reward is halved, in 2020, they hope the number of bitcoin transactions will have grown sufficiently to mean that the small fees paid by users will make up enough of their income to smooth out the profit cut.
"By 2020 we will definitely have had the tipping point," said Bitfury's Vavilov.
(Reporting by Jemima Kelly; Editing by Dominic Evans)
[Random Sample of Social Media Buzz (last 60 days)]
#MaryJane #MARYJ $ 0.001587 (0.91 %) 0.00000240 BTC (0.00 %) || $629.95 #bitfinex;
$626.08 #bitstamp;
$604.00 #btce;
Prices & News: http://bit.ly/1VI6Yse
#bitcoin #btc || #BTA Price: Bittrex 0.00001035 BTC YoBit 0.00000750 BTC Bleutrade 0.00000864 BTC #BTAprice 2016-06-14 06:00 pic.twitter.com/7kn3ehVmUH || 1 KOBO = 0.00000725 BTC
= 0.0033 USD
= 0.6575 NGN
= 0.0518 ZAR
= 0.3318 KES
#Kobocoin 2016-05-25 18:00 pic.twitter.com/6jsOojjx9w || LIVE: Profit = $489.13 (6.24 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $441.80 (#BTCe) #bitcoin #btc - http://www.projectcoin.org || $444.26 #coinbase;
$442.00 #btce;
$440.00 #bitstamp;
$438.88 #bitfinex;
Prices & News: http://bit.ly/1VI6Yse
#bitcoin #btc || $494.01 at 13:15 UTC [24h Range: $468.00 - $498.00 Volume: 9681 BTC] || One Bitcoin now worth $670.40@bitstamp. High $675.00. Low $666.00. Market Cap $10.571 Billion #bitcoin pic.twitter.com/i0XO79v7Nd || Current BUY price for 1 #bitcoin at Bitstocks is £310.14 Last 24 hour range £306.00-£312.00 http://hubs.ly/H03619p0 #BTC || BTCTurk 1710 TL BTCe 564.39 $ CampBx $ BitStamp 574.00 $ Cavirtex $ CEXIO 580.68 $ Bitcoin.de 510.85 € #Bitcoin #btc
|
Trend: down || Prices: 665.01, 650.62, 655.56, 661.28, 654.10, 651.78, 654.35, 655.03, 656.99, 655.05
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-11-30]
BTC Price: 10233.60, BTC RSI: 77.80
Gold Price: 1273.20, Gold RSI: 45.42
Oil Price: 57.40, Oil RSI: 60.13
[Random Sample of News (last 60 days)]
ETF Winners of the First Year of Trump Era: Donald Trump is nearing his best political day in life (probably). He became the U.S. President on Nov 8, 2016 and prompted a monster rally in the U.S. stock market. The Dow Jones Industrial Average has been one of the strongest beneficiaries of the Trump rally with DIA gaining about 28% since his election win (as of Nov 2, 2017).
His promises of tax cuts, deregulations in the financial sector and bringing back foreign jobs to America boosted the markets. The S&P 500-based ETF SPY added over 20% while the Nasdaq-100-based fund QQQ surged about 30% during this time frame. Along with Trump bump, a harmonized recovery in the global economy also led such gigantic gains.
While Trump’s several agenda faced political gridlocks, and have not seen the day of the light yet, markets remain upbeat. All hopes have not died yet. Against this backdrop, we would like to highlight ETFs that have performed superbly since Trump’s win (read: Welcome Trump Era with These ETFs).
ARK Innovation ETF ARKK –Up 74.2%
Companies in ARKK include those that “benefit from the development of new products or services, technological improvements and advancements in scientific research” (read: ETFs Riding High On Bitcoin Surge).
ARK Web x.0 ETF ARKW –Up 72.9%
The ARK Web x.0 ETF looks to track the long-term growth of capital. It is an actively managed ETF that invests primarily in domestic equity securities and U.S. exchange traded foreign equity securities of companies that are related to the fund’s investment theme of Web x.0 (read: Twitter Surges on Q3 Results: Log in to These ETFs).
PowerShares Dynamic Semiconductors ETF PSI –Up 61.6%
Semiconductor stocks had every reason to put up a great show. Rise in cloud computing, surge of bitcoins and upbeat forecast for electronics sales in the holiday season — all call for greater demand for semiconductors. Apart from PSI, other semiconductor ETFs likeFirst Trust Nasdaq Semiconductor ETFFTXL andVanEck Vectors Semiconductor ETFSMH also surged (read: 5 Biggest ETF Winners of Trump Trade Resurgence).
Global X Lithium & Battery Tech ETF LIT –Up 60.9%
The fund looks to track the performance of the companies that are active in the exploration and/ or mining of Lithium or production of Lithium batteries. The fund surged as electric-powered vehicles are gaining immense popularity (read: Inside The Surge in Lithium ETF).
Global X Robotics & Artfcl Intllgnc ETF BOTZ –Up 56.5%
The product invests in companies that are set to benefit from increased utilization of robotics and artificial intelligence (read: Inside the Rise of Thematic ETFs).
iShares U.S. Home Construction ETF ITB–Up 51.7%
The housing sector has been in good shape. The fund looks to track the performance of the home construction sector of the U.S. equity market (read: 5 ETFs to Soar After Solid Q3 GDP Data).
PowerShares DWA Healthcare Momentum ETF PTH –Up 50.8%
This segment also caught investors’ attention. Healthcare was hit hard before election on the price-gouging issue. The issue was first raised by Hillary Clinton in September 2015 and since then the space has been battered by increasing political and media focus on high prices for some drugs.
However, the stringent approach is easing, allowing investors to enter the space all over again. Also, President Trump’s pledges to reduce FDA regulations, removal of taxes and fees on pharmaceutical and medical-device manufacturers, and successful clinical trials for new drugs may prove to be a boon to the space (read: 5 Reasons Why Biotech ETFs are Soaring).
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Click to get this free report || Walmart food sales pressure Amazon and Whole Foods: Walmart’s ( WMT ) third-quarter earnings crushed expectations . And a key area of growth for the company was its food business, which had its strongest quarter in almost six years. CEO Doug McMillan said the company’s fresh meat, bakery and produce segments “lead the way” in this segment during the quarter. Walmart employees cheer at the Walmart U.S. associates meeting in Fayetteville, Arkansas.. REUTERS/Rick Wilking Online sales were also a boon for the company during the quarter, with grocery boosting performance here as well. Walmart CFO Brett Biggs said, U.S. eCommerce growth was up 50% in the third quarter with Walmart.com, which includes online grocery sales, are “responsible for the majority of the growth in the period.” (Thus, it is core Walmart.com, and not its Jet.com unit, where Walmart is seeing most of its online sales grow.) And the success that Walmart is seeing in both its online business and grocery segments illustrates some of the strategic impetus behind 2017’s most high-profile acquisition — Amazon ( AMZN ) buying Whole Foods. This holiday season, you could step into a Whole Foods for some organic bananas and step out with a couple of Echo speakers instead. Amazon’s physical retail bet Back in June, Amazon acquired the high-end grocer for $14 billion, the company’s biggest acquisition ever. The basic outline of why Amazon bought Whole Foods is fairly straightforward — the company got hundreds of grocery stores located in high-income zip codes which could jumpstart its lagging grocery business, with these stores also serving as small warehouses to help its last-mile delivery operations. After the deal closed, Amazon slashed prices on a number of items at Whole Foods, which led to an immediate increase in foot traffic, according to data from Thasos Group . This data also showed that many of these new customers came primarily from Walmart, which accounted for almost a quarter of Whole Foods’ increase in the week following these new lower-priced initiatives. The success of Walmart in the wake of these customer shifts and Amazon’s new push in groceries, however, shows why Amazon felt the need to go compete on Walmart’s turf when the dynamic between these companies has largely been the inverse. And this offers another explanation for the strategy behind Amazon’s Whole Foods buy — Amazon did not buy Whole Foods because it wanted to be in the grocery business, but because it wanted to be in the physical retail business. Story continues Until recently, Amazon had no physical retail presence to speak of, meaning its transactions were entirely initiated online and completed with a delivery. In contrast, Walmart’s eCommerce channel includes sales done online and sent to a buyer, as well as those initiated online but picked up in-store, online grocery sales, and its suite of other brands housed under its eCommerce unit led by Marc Lore. But Walmart’s online shopping arm is not so much an addition to its sales efforts as it is a supplement; buying things online through Walmart makes you more likely to buy something in-store at Walmart. Walmart’s most recent quarterly results, which include the week after Whole Foods slashed prices, show that while Amazon has become synonymous with online shopping in the U.S., Walmart’s efforts to challenge that preeminence are paying off. And a lot of this online success, perhaps counterintuitively, is anchored in Walmart’s stores. Walmart store traffic surged in the third quarter In addition to its strong online results, Walmart’s same-store sales rose 2.7% in the third quarter, up from a 1.2% increase in the same quarter last year, which traffic rose 1.5% against last year’s 0.7% increase. At its Sam’s Club wholesale stores, traffic rose 3.6% in the third quarter of this year against a 0.5% decline seen last year. Walmart is able to use its stores as points of contact with customers in the way that an online retailer might try to use an email blast as a reminder that they are still there, ready to sell you stuff. And the company’s traffic figures back this up. Except that Walmart’s stores are not just email blasts reminding customers they exist but places you go to also buy other things. Which makes the in-store pick-up from an online sale more likely to lead to an additional purchase, or if nothing else keeps the customer aware of what else is available at Walmart. And that’s why Amazon now has bookstores—and why Amazon bought Whole Foods. — Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: Foreign investors might be the key to forecasting a U.S. recession It’s been 17 years since U.S. consumers felt this good about the economy TOM LEE: Bitcoin is an important asset for investors to own Wall Street can’t stop talking about Bitcoin Warren Buffett likes the stock market because of the bond market America’s shortage of workers is about to get ‘much worse’ || GoldCrypto.io Launches Unique Digital Gold Standard Cryptocurrency: BELIZE CITY, BELIZE--(Marketwired - Nov 27, 2017) - Crypto Investor, Inc. announces the GoldCrypto.io AuX Token Pre-ICO launch. GoldCrypto is the world's first cryptocurrency uniquely backed by ongoing production of physical gold bullion, thereby creating an accretive gold reserve backing for the AuX Tokens. This accretive gold backing provides for AuX Tokens to exceed the traditional "Gold Standard" and to be rapidly positioned as a major cryptocurrency. AuX Tokens present a Global Currency, backed by Ever-Increasing Gold. The major advantage of the GoldCrypto.io approach is that physical gold is pre-purchased for AuX Token holder benefit at a steep discount to market price from production ready projects while the metal is still in the ground. Therefore, all Pre-ICO and ICO participants will benefit significantly from the extraordinary entry-level upside opportunity, of close to half-price gold, that will not be repeated following the close of the Pre-ICO and ICO. The initial AuX Token gold backing is approximately US$1.70 per AuX Token based upon a current gold market price of $1,275 per ounce. The Pre-ICO and ICO steep discounts offer AuX Token holders the opportunity to secure a gold-backed position through AuX tokens at an approximate 50% discount to recent gold market prices. Gold pre-purchase, or streaming, is not novel and is a well-established practice in the mining industry. Notable major publicly listed companies that pre-purchase future gold stream delivery from gold mine production opportunities include Franco-Nevada, Silver Wheaton, Royal Gold, Sandstorm, and Osisko Royalties. To further enhance the unique AuX Token cryptocurrency opportunity, their value will ever increase, as additional gold-backing leverage is achieved through 45% of all delivered gold bullion being re-invested in further gold pre-purchases. These incremental gold pre-purchases will continuously increase the AuX gold-backed reserve. 50% of all delivered gold bullion will be stored in secure recognized vaults, and 5% will be donated to establish sustainable community projects in third-world and developing countries through the 'CrypDonate' Social Enterprise. Story continues With regard to the AuX Token cryptocurrency market opportunity, there has been much recent commentary regarding the potential demise of fiat currencies, and from many commentators, the lack of any assets or true value backing the numerous cryptocurrencies that have entered the market, including market leader Bitcoin (BTC), which has traded through record levels exceeding US$9,400 per BTC over the past 24 hours. Against this background, the GoldCrypto.io AuX Token is a game-changer that will reintroduce trust in currencies through the establishment of a new digital currency that is cryptographic, transparent, accountable, and backed by gold, all validated on the unchallengeable blockchain. Most importantly, holders of AuX Tokens will have total control over the way they store, spend, exchange, or remit AuX Tokens. Crypto Investor, Inc, the Service Operator/Administrator of GoldCrypto.io, has entered into a gold pre-purchase agreement with Scottsdale based Key Capital Corporation ( OTC PINK : KCPC ) to acquire gold bullion on an ongoing basis that on delivery will be stored in recognized industry vaults to back the AuX Tokens. Key Capital will monitor the ongoing pre-purchased gold production and mine performance of each project pursuant to its Agreement, and in the interests of GoldCrypto.io AuX Token holders. Key Capital will also continue to source new gold production projects to increase the physical gold bullion reserves backing the GoldCrypto.io AuX Tokens. Key Capital is supported by a core team of proven expert resource industry specialists with extensive experience across all mining disciplines. See: www.keycapitalgroup.com . GoldCrypto AuX Tokens are the 'Future of Money' and have the potential to over time become a global reserve currency. || Why Bitcoin Is Kind of Like Webvan or Pets.com: This article first appeared in Data Sheet, Fortune’s daily newsletter on the top tech news. Sign up here . I was asked recently to share my views on bitcoin, the virtual currency whose price—not value—recently crossed $10,000. I’ve tackled tough topics I needed to understand at least a little in my time: semiconductors, enterprise software, net neutrality. (Patience, people. Patience.) But cryptocurrencies, I conceded, is a subject that for the first time in my career has made me feel old. No matter how many times it is explained to me, I only get it a little better than the last time. What to make of the tulip-like run-up in the price of bitcoin, then? It is clearly a speculative bubble, and not even one with a hint of value to the underlying asset. Indeed, bitcoins were supposed to be a payment mechanism, but their recent price explosion means holders keep holding rather than using as intended, as the estimable cryptocurrency expert Nathaniel Popper points out in The New York Times . (Porn and drug purveyors have found true utility in bitcoins.) Yet just as Webvan, Ariba, and even Pets.com had some potential value, so do cryptocurrencies. Gold had a centuries-long run as a vessel for stored value, and so too could these confusing things that are “mined” by computers. But don’t confuse speculative price increases with valuable products. The latter will take time. *** It turns out that Data Sheet readers aren’t only ones reacting passionately to proposed changes to the net neutrality rules. This NPR piece , presented as a “long view,” is in actuality a platform for “free and open Internet” advocate Tim Wu to espouse his views. Contrariwise, the one and only Ben Thompson has weighed in with “Why Ajit Pai Is Right,” where he also takes after Tim Wu. Enjoy. || Bitcoin, Ether, Litecoin: Coinbase Enables 'Instant' Purchases for US Buyers: Cryptocurrency exchange startup Coinbase has announced that some users will now be able to access "instant" purchases of bitcoin, ethereum and litecoin. The new service is currently only available for users making payments from a U.S. bank account and in amounts of under $25,000. However, Coinbase said it plans to expand the instant purchasing service to other countries "over the coming months." Whereas previously such transactions would have taken several days, the firm said, customers will now have immediate access to their cryptocurrency holdings after the payment is made. The San Francisco-based firm explained that the new feature has been a "highly requested" one, and that it should increase the overall speed and usability of the platform. The move is likely to be popular with users of the startup's service, which been the target of criticism over poor customer service. Coinbase has previously stated that rapid user growth in recent months led to the issues, committing at the time to devote more funds to boost its customer services resources. Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase. Lightbulbs image via Shutterstock Related Stories Russia's Central Bank Backs Move to Block Bitcoin Websites China State News Calls for 'Iron Fist' Regulation of Bitcoin Exchanges CFTC Investigating Ether Crash on Coinbase Exchange Bitcoin Exchange BTCC Brings Chinese Trading to a Close || Bubble trouble? Bitcoin tops $11,000, but fades after sharp rally: By Jemima Kelly and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) - Bitcoin zoomed past $11,000 to hit a record high for the sixth day in a row on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular fashion. After soaring more than 1,000 percent since the start of the year, bitcoin rose as much as 15 percent on Wednesday, but by mid-afternoon in New York, the virtual currency was trading at $9,500, down 3.7 percent on the day on Luxembourg-based Bitstamp (BTC=BTSP), one of the largest and most liquid cryptocurrency exchanges. "As many seasoned traders know all too well, anything that rockets higher, tends to fall down faster when the time comes, and the time will come," James Hughes, chief market analyst at FX broker AxiTrader, said. Bitcoin topped $10,000 for the first time in early Asia trading, before surging above $11,000 less than 12 hours later to reach $11,395. Bitcoin's rapid ascent has led to countless warnings that it has reached bubble territory. But the warnings have had little effect, with dozens of new crypto-hedge funds entering the market and retail investors piling in. (To view a graphic on Bitcoin's blistering ascent, click http://tmsnrt.rs/2AHKJPd ) London-based Blockchain.info, one of the biggest global bitcoin wallet-providers, told Reuters on Wednesday that it had added a record number of new users on Tuesday, with more than 100,000 customers signing up, taking the total number to more than 19 million. The evidence suggests that few of the users are buying bitcoin to use it as a means of exchange, but are speculating to increase their capital. "What's happening right now has nothing to do with bitcoin's functionality as a currency – this is pure mania that's taken hold," said Garrick Hileman, a research fellow at the University of Cambridge's Judge Business School. Hileman, who last week gave a lecture to the Bank of England on the risks of bitcoin and other cryptocurrencies, also flagged the risk of the whole market collapsing entirely. "There's always the possibility that some fundamental cryptographic flaw that we can't solve craters the whole space, or that regulators unite and decide this represents systemic risk and actually could trigger the next financial crisis," he said. "EXIT RAMPS" Created in 2008, bitcoin uses encryption and a blockchain database that enables the fast and anonymous transfer of funds outside of a conventional centralized payment system. It has far outstripped gains seen in any traditional asset classes or currencies this year. Its rise accelerated in recent months as exchanges such as the CME Group Inc (CME.O) and the Chicago Board Options Exchange announced plans to offer futures contracts for the cryptocurrency. Story continues On Wednesday, a source with knowledge of the matter said Nasdaq Inc (NDAQ.O) plans to launch a futures contract based on bitcoin in 2018. Sceptics say it is a classic speculative bubble with no relation to real financial market activity or the economy - most famously JPMorgan boss Jamie Dimon, who labeled it a "fraud". But even Dimon and others who say bitcoin represents a bubble - now the consensus view among mainstream investors - do not deny its price rise could still have further to go. "It’s got all the shapings of your tulip bubble chart (but) that tells you nothing about where that price line could go depending on the number of people who wish to own it," Standard Life's head of investment strategy, Andrew Milligan, said on Wednesday. "Who is to say it doesn’t reach $100,000?" In some emerging markets, bitcoin had hit well over $10,000 previously. In South Korean exchanges, too, bitcoin was already close to $11,000 or higher early this week. On Zimbabwe's local exchange golix.com bitcoin touched a new high of $18,500 on Wednesday before retreating to $18,000. The fact that bitcoin now provides "exit ramps" from national currencies that were becoming easier to use, Hileman said, could exacerbate any future financial crisis. Coordinated regulatory action might therefore be necessary in order to stave off an "economic calamity", he said. Despite its mushrooming value, however, Bank of England Deputy Governor Jon Cunliffe said on Wednesday bitcoin was not big enough to pose a risk to the global economy. New York Federal Reserve President William Dudley said the Fed is in the early stages of considering "what it would mean" to offer digital currencies sometime in the future and whether it may be necessary as an alternative to cash. Mike Novogratz, a former macro hedge fund manager at Fortress Investment Group, said in a Reuters Investment Summit this month that mainstream institutional investors were about six to eight months from adopting bitcoin. (Additional reporting by Marius Zaharia in Hong Kong, Vidya Ranganathan in Singapore, Helen Reid and Dhara Ranasinghe in London, and MacDonald Dzirutwe in Harare; Editing by Alison Williams and Susan Thomas) View comments || Market Movers: Yahoo Finance breaks down early market action: Yahoo Finance’s Alexis Christoforous , Editor-in-Chief Andy Serwer , Jared Blikre and Seana Smith discuss the big stories of the day. Today’s topics: DOJ sues to block AT&T acquisition of Time Warner Inc. Janet Yellen to leave Federal Reserve Earnings breakdown: Lowe’s, Campbell Soup Concerns over Bitcoin after cryptocurrency hack Apple’s iPhone X put together by illegal student labor: FT Signet Jewelers tanks on same-store sales and EPS miss GameStop earnings out after today’s closing bell Tyson to create 1,500 jobs with new TN plant Charlie Rose accused of sexual harassment by eight women: WaPO Glenn Thrush suspended from NYT after sexual abuse claims Trump to implement new sanctions against North Korea Pairing perfect wines for Thanksgiving TWITTER POLL: What kind of wine do you plan to serve with your Thanksgiving meal? -Beaujolais all the way! -White wine -Anything under $10 -Dry turkey, dry table || Bitcoin just passed $8,000: Stop me if you've heard this before... This morning bitcoin shot past ** INSERT PRICE MILESTONE **, and is now hovering around ** INSERT CURRENT PRICE ** up nearly ** INSERT % ** percent from yesterday. Just kidding. We don't actually use that template, but if you've been following bitcoin over the last 6 months it probably sounds very familiar. In all seriousness, bitcoin has been on a wild run. Yesterday the price shot past $8,000 for the first time, and per usual when it breaks through a milestone is now trading solidly above it at $8,250. Here's a quick recap of what's been happening in bitcoin world the last few weeks. On November 2nd the price of Bitcoin passed $7,000 for the first time, fueled by demand before the Segwit2x hard fork that was supposed to happen a few days ago. Anyone that held a bitcoin prior to the fork would receive an equal amount of the forked coin, which some saw as being akin to free money. When the hard fork was canceled on November 10th the price plummeted down to $5,800 as people moved their money back into alternative cryptocurrencies. This sudden plummet also coincided with some very strange movement in the price of bitcoin cash (BCH) which saw the price and hash rate spike for about 24 hours, temporarily making it the second most valuable coin and the coin with the most hash rate (even surpassing bitcoin). Bitcoin's price over the last month - from coinmarketcap.com Anyways, now that the drama has passed the price is on a steady climb again and well past $8,000. So what's causing this? While I made this argument when it passed $5,000 in early October, I still think that institutional interest is the main cause of this extended rally. Over 100 cryptocurrency-focused hedge funds have been created in the least year, which are acting as a conduit for large amounts of fiat being converted to bitcoin and other cryptocurrencies. Even old-school hedge funds and investment institutions are getting in on the action, to the extend that there are services that allow them to safely do so. And these services are coming. Just last week Coinbase announced a service to securely store $10M or more of cryptocurrency for institutional investors. Additionally, CME group will launch the first ever regulated bitcoin futures product on December 10th. Both of these offerings will make it easier for large diversified investment vehicles to enter the market. So what's next? No one knows, but at this point it looks like $10k before the end of the year is possible. Of course it's just as likely for the price to plummet, as many say we are due for a correction. || Trump's latest legal battle, Cyber Monday poised to be this year's biggest shopping holiday: Stocks waver to start the week despite Americans buying into the country’s biggest shopping holidays. On Capitol Hill, President Trump is dealing with another legal battle. His budget director, Mick Mulvaney, is being blocked from taking control of the Consumer Financial Protection Bureau (CFPB). Yahoo Finance’sAlexis Christoforous,Myles Udland,Melody HahmandJared Blikrediscuss the big stories of the day.
Today’s topics:
• Leandra English filed lawsuit over CFPB pick
• Sen. Franken won’t quit Senate after groping accusations
• Investors await Senate tax bill
• Exxon Mobil reorganizing refining, chemical operations
• Bitcoin closing in on $10,000
• Retail stocks trading higher on Cyber Monday
• Black Friday, Cyber Monday breakdown
• Royal wedding Bells
• Meredith and Koch Bros buy Time Inc. for $2.8B
• JPM initiates FUNKO at overweight, with $14 price target
• Big advertisers leave YouTube over videos exploiting children
• Trump’s budget director Mulvaney is being blocked from controlling the CFPB
• Holiday retail blitz
• Exxon shifts operations to increase profits
• Apple’s record iPhone X shipments
TWITTER POLL
What do you think will happen to Black Friday and Cyber Monday in the coming years?
• Both can co-exist
• Cyber Monday takes over
• Cyber Monday is going away. || Americans have more debt than ever — and it's creating an economic trap: teoria risky black stone rock hanging crush smash REUTERS/Andrew Winning An International Monetary Fund report finds that high levels of household debt deepen and prolong recessions. US household debt is at pre-Great Recession levels. Household debt jumped by over $500 billion in the second quarter to $12.84 trillion. A scary little statistic is buried beneath the US economy's apparent stability: Consumer-debt levels are now well above those seen before the Great Recession. As of June, US households were more than half a trillion dollars deeper in debt than they were a year earlier, according to the latest figures from the Federal Reserve. Total household debt now totals $12.84 trillion — also, incidentally, about two-thirds of gross domestic product. The proportion of overall debt that was delinquent in the second quarter was steady at 4.8%, but the New York Fed warned over transitions of credit-card balances into delinquency, which "ticked up notably." Here's the thing: Unlike government debt, which can be rolled over continuously, consumer loans actually need to be paid back. And despite low official interest rates from the Federal Reserve, those often do not trickle down to financial products like credit cards and small-business loans. Michael Lebowitz, the cofounder of the market-analysis firm 720 Global, says the US economy is already dangerously close to the edge. "Most consumers, especially those in the bottom 80%, are tapped out," he told Business Insider. "They have borrowed about as much as they can. Servicing this debt will act like a wet towel on economic growth for years to come. Until wages can grow faster than our true costs of inflation, this problem will only worsen." The International Monetary Fund devotes two chapters of its latest Global Financial Stability Report to the issue of household debt. It finds that, rather intuitively, high debt levels tend to make economic downturns deeper and more prolonged. "Increases in household debt consistently [signal] higher risks when initial debt levels are already high," the IMF says. Story continues Nonetheless, the results indicate that the threshold levels for household-debt increases being associated with negative macro outcomes start relatively low, at about 30% of GDP. Clearly, America is already well past that point. As households become more indebted, the IMF says, future GDP growth and consumption decline and unemployment rises relative to their average values. "Changes in household debt have a positive contemporaneous relationship to real GDP growth and a negative association with future real GDP growth," the report says. Specifically, the IMF says a 5% increase in household debt to GDP over a three-year period leads to a 1.25% fall in real GDP growth three years into the future. The following chart helps visualize the process by which this takes place: Household Debt IMF International Monetary Fund "Housing busts and recessions preceded by larger run-ups in household debt tend to be more severe and protracted," the IMF said. Is there a solution? If things reach a tipping point, yes, says the IMF — there's always debt forgiveness. Even creditors stand to benefit. "We find that government policies can help prevent prolonged contractions in economic activity by addressing the problem of excessive household debt," the report said. The IMF cites "bold household debt restructuring programs such as those implemented in the United States in the 1930s and in Iceland today" as historical precedents. "Such policies can, therefore, help avert self-reinforcing cycles of household defaults, further house price declines, and additional contractions in output." It's no coincidence that household debt soared across many countries right before the most recent global slump. The figures are rather startling: In the five years to 2007, the ratio of household debt to income rose by an average of 39 percentage points, to 138%, in advanced economies. In Denmark, Iceland, Ireland, the Netherlands, and Norway, debt peaked at more than 200% of household income, the IMF said. In other words: We’ve seen this movie before. NOW WATCH: RAY DALIO: You have to bet against the consensus and be right to be successful in the markets See Also: Tesla strikes another deal that shows it's about to turn the car insurance world upside down 21 photos that show just how imposing US aircraft carriers are Bitcoin just hit an all-time high — here's how you buy and sell it SEE ALSO: Tens of millions of Americans are being left out of the economic recovery — and it's easier than ever to see who they are
[Random Sample of Social Media Buzz (last 60 days)]
#Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || @ #1, Bitcoin with unit price of $4,839.25, market cap of $80,404,801,727 (52.15%), and 24 hr vol. of $2,102,290,000 (45.20%) || ¿Invertirás en futuros y opciones de Bitcoin? Todas las claves: http://mtr.cool/qaumtey pic.twitter.com/7VQYjDtkZ3 || Me ha gustado un vídeo de @YouTube (http://youtu.be/sWSM7ghfZl0?a - 17 BITCOIN SOLD | AND HOW TO BE SUCCESSFUL). || Bitcoin Gamble: Man Sells Everything and Camps Out Waiting for Next Boom http://ow.ly/ZuCB50eyowX || luke-jr: Why are you sharing Ver's lies?https://www.reddit.com/r/btc/comments/75flns/roger_ver_ceo_of_bitcoincom_interview_with_max/do61wnu?context=3 … || #bitcoin non si ferma più? Analisi tecnica || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || Bitcoin - BTC
Price: $9,335.68
Change in 1h: -1.04%
Market cap: $156,007,960,332.00
Ranking: 1
#Bitcoin #BTC
|
Trend: up || Prices: 10975.60, 11074.60, 11323.20, 11657.20, 11916.70, 14291.50, 17899.70, 16569.40, 15178.20, 15455.40
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-02-21]
BTC Price: 3954.12, BTC RSI: 68.68
Gold Price: 1323.50, Gold RSI: 59.91
Oil Price: 56.96, Oil RSI: 66.01
[Random Sample of News (last 60 days)]
Is NovoCure a Buy?: Billions of dollars have been spent on research and development in the battle against cancer. Unfortunately, cancer still claims more than half a million lives in the U.S. alone each year.
Novocure(NASDAQ: NVCR)is on a mission to give patients with cancer a fighting chance. This innovative medical-device company is harnessing the power of physics to approach cancer treatment from a unique perspective.
The company discovered that electric fields can be manipulated to inhibit cell division in cancerous tumorous. Novocure calls this new method of treatmenttumor treating fields, or TTFields for short, and is pushing hard to convince healthcare providers to add this new weapon to their arsenals. Its early success at winning over skeptics has led to explosive revenue growth, and itsshare price has soared.
Is Novocure a buy today, or is it too late to get in?
Image source: Getty Images.
Nearly two decades ago, Novocure's founder discovered that electric fields could be used to inhibit divisionin certain types of cells. The company also figured out that tuning an electric field to a specific frequency would disrupt division in certain types of cells without having any impact on other types of cells (Novocure's Bill Doyle explained this process in great detail during aTed Talk).
A key benefit of this technology is that TTFields could be fine-tuned to disrupt cell division in cancerous tumors while leaving nearby healthy cell alone. This allowsTTField therapy to be administered withminimal side effects.
Novocure took its knowledge of TTFields and created a portable electric field generator called Optune, which won FDA approval to treat recurrent glioblastoma in 2011. Glioblastoma is an especially aggressive form of brain cancer that has a very low, five-year survival rate. Thankfully, Novocure showed last year that using Optune in combination with current standard-of-care treatments led toimproved survival rates.
Novocure has launched Optune in the U.S., Europe, and Japan. The company's business model is to bill for Optune on a monthly basis. That's why akey metric for investors to watch is the number of active users that are on Optune at any given time.
Demand for Optune has grown steadily as providers, payers, and patients became more comfortable with the technology. In turn, Novocure's revenue has soared.
[{"Metric": "Active patients", "2015": "605", "2016": "1,091", "2017": "1,834", "2018*": "2,252*"}, {"Metric": "Revenue", "2015": "$33.1 million", "2016": "$82.9 million", "2017": "$177 million", "2018*": "$178 million*"}]
*Data as of Sept. 30, 2018. Data source: Novocure.
Glioblastoma is a rare form of cancer, so the company's current market opportunity for Optune is limited.However, the company believes that TTFields could also be useful in treating a wide variety of solid-tumor cancers down the road. Management is investing aggressively in R&D in an effort to capitalize on that potential.
How big could the company's total addressable market grow if TTFields are shown to be effective in other types of cancer?Here's an overview of Optune's label expansion potential:
[{"Indication": "Glioblastoma", "Status": "Approved", "Potential Annual Patient Population in Target Markets": "14,000"}, {"Indication": "Mesothelioma", "Status": "Pending approval", "Potential Annual Patient Population in Target Markets": "13,000"}, {"Indication": "Brain Metastases", "Status": "Phase 3 trial end 2020", "Potential Annual Patient Population in Target Markets": "258,000"}, {"Indication": "Lung cancer", "Status": "Phase 3 trial ends 2021", "Potential Annual Patient Population in Target Markets": "659,000"}, {"Indication": "Pancreatic cancer", "Status": "Phase 3 trial ends 2022", "Potential Annual Patient Population in Target Markets": "223,000"}]
Data source: Novocure.
These numbers areenormouswhen compared to the company's current active patient count of just 2,252. If Novocure can win approval in any of these indications, then its upside potential is truly massive.
Novocure has operated at a loss since its founding. The company is still losing money today, even with its considerable revenue growth. A key reason why is that the company has been plowing money into growing its commercial team and funding its late-stage R&D programs. If any of those clinical trials result in label expansion claims, that will prove to be money well spent.
Novocure's net loss for all of 2018 should come in right around $60 million or so. Funding that loss won't be a problem because the company had more than $226 million in cash in the bank as of the end of September.
Market watchers predict that the company's net loss will shrink considerably in 2019. If that happens, the company shouldn't have to tap investors for additional capital anytime soon.
For NovoCure to be a successful investment from here, it must be able to win label expansion claims into other types of cancer. Since regulatory success is never guaranteed, this isn't a good stock for risk-averse investors to buy.
Personally, I think the odds of Optune winning label expansion claims are quite good given that the company has already shown clinical success in treating brain cancer, and Optune's side effects are so minimal. That's why I decided to become a shareholder.
If you have a strong stomach for risk and want a stock that could turn into a home run, NovoCure might be for you.
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Brian Feroldiowns shares of NovoCure. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Hope For a Bitcoin ETF Burns Eternal: This article was originally published onETFTrends.com.
After a slew of disappointments, hope for an exchange traded fund linked to bitcoin remains persistent. A recent solicitation from the Securities and Exchange Commission (SEC) is stoking speculation among crypto market observers that a bitcoin ETF could come to life.
“Just days after Cboe resubmitted its proposal in support of the Van Eck and Solid X Bitcoin exchange-traded fund (ETF), the Securities and Exchange Commission in the United States has urged businesses to offer data and information regarding the common blockchains to ensure that 'there is no loss in data completeness and accuracy due to the data transformation tools and processes applied,'”reports FXStreet.
Some digital currency market observers have long viewed U.S. approval of a bitcoin ETF as pivotal to increased adoption of the cryptocurrency.
In 2018, bitcoin shed almost 80% of its value. Among the issues plaguing bitcoin; last year were the ongoing unwillingness of U.S. regulators to approve bitcoin-related exchange traded funds as well as data indicating that mainstream acceptance and adoption of the digital currency are declining.
“Provide blockchain data to support the SEC’s efforts to monitor risk, improve compliance, and inform Commission policy with respect to digital assets. The SEC is seeking information for potential sources to support the goal of acquiring data for the most widely used blockchain ledgers, including the universe of available information and transaction details,” according to the SEC solicitation.
To date, U.S. regulators have consistently rejected efforts by ETF issuers to bring bitcoin-related ETFs to market.
Last year, the SEC rejected the applications, preventing the digital currency from gaining more acceptance from investors who are wary of the unregulated exchanges of cryptocurrencies. The SEC’s Division of Trading and Markets rejected applications from investment firms ProShares, Direxion and GraniteShares.
Some crypto market observers view the recent SEC solicitation as a positive step toward getting a bitcoin ETF to come to market.
“Most people are interpreting this step as a significant direction towards the approval of the first Bitcoin ETF in the United States. Bitcoin and the entire market have been in the red for the longest time in history. A correction is required in order to see the market recover after hitting year lows in 2018 as well as 2018. An influx of fresh funds from institutional investors is expected to ignite a reversal in the prices of assets,” reports FXStreet.
For more information on the cryptocurrency market, visit theBitcoin category.
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READ MORE AT ETFTRENDS.COM > || Dash Cryptocurrency: Single Wallet Owner Possesses 51% of Hashrate: dash cryptocurrency mining nicehash The NicheHash crypto mining marketplace contains the majority of the hashpower on the Dash network. A concerned Reddit user raised the alarm today. Single Miner Mining More Than 50% of All Dash Blocks Dash has a total of almost 1,900 Terrhashes per second at time of writing. Meanwhile, NiceHash is responsible for more than 1,000 TH/s across over 25,000 miners. Over $2.2 Million Earned by Single Miner Analysis by the concerned Reddit user found that three of the top addresses over the last few thousand Dash blocks are controlled by the same entity. They write: This particular transaction has three of the four top addresses as inputs meaning one entity controls all three. These three alone gather 53% and more. You can also see this started 6 months ago/around September last year, and I think the fourth unknown pool also belongs to this entity yet it is seperated on the blockchain. It started to gather a lot of hash at the same time. The addresses in question are: XbUutDsgJbf7Sjjq4omhusNtkT8ih1d7oQ XkNPrBSJtrHZUvUqb3JF4g5rMB3uzaJfEL XeMPcKeVDN9bkECGDC7ggtf9QsX5thgKAx Combined, these addresses have mined 26,665 Dash to date, at time of writing. That is a total of 573 BTC or $2.2 million at current prices. Yet, the financial aspect is the least of anyone’s worries. 51% attacks create significant security liabilities in decentralized blockchain networks. Charlie Lee recently said that networks must be vulnerable to 51% attacks for decentralization. Miner centralization threatens networks as well, however. 51% Attack Possible Before Chainlocks nicehash crypto mining marketplace The Reddit user Flenst concludes his post: So it is possible someone could try to perform a 51% before DASH implements their chainlocks. The actor could start right away. Anyone offering a service with DASH must keep an eye on the chain as long as this doesn’t change and be very careful. He is referring to a recent announcement by the Dash development team that they are working on something called “Chainlocks.” In November, Dash said they are introducing the new feature in order to combat 51% attacks. Such attacks are in the news again with recent issues surrounding Ethereum Classic . Chainlocks also deals with block reorganizations and modifies the “longest-chain” rules that Dash inherits from Bitcoin. From Dash Improvement Proposal 8 : Story continues When a node encounters multiple valid chains, it sets the local “active” chain by selecting the one that has the most accumulated work. This is generally known as the “longest-chain” rule as in most cases it is equivalent to choosing the chain with the most blocks. If both chains have the same amount of accumulated work (and in most cases the same block count), a decision can’t be made solely based on the longest-chain rule. […] If another block is then received which extends the non-active chain so that it has the most accumulated work, it becomes the active one. For example, even if a chain is currently 6 blocks longer than any other chain, it’s still possible that a shorter chain becomes longer and thus the active one. This is generally known as a chain reorganization. What’s clear is that someone has invested a massive amount of money into mining Dash with ASICs. Dash’s X11 algorithm once thwarted ASIC development. ASIC developers found that by adding memory to the miners, they were able to handle the X11 algorithm. When this happened with Monero, developers decided to fork away to a modified algorithm. Featured Image from Shutterstock The post Dash Cryptocurrency: Single Wallet Owner Possesses 51% of Hashrate appeared first on CCN . || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 02/02/19: Bitcoin Cash ABC Gets Support Bitcoin Cash ABC gained 1.1% on Friday, partially reversing a 4.08% slide from Thursday, to end the day at $114.76. A bearish start to the day saw Bitcoin Cash ABC fall to a mid-morning intraday low $110.25 before finding support. The pullback saw Bitcoin Cash ABC come within range of the first major support level at $109.98. Rallying through to the early afternoon, Bitcoin Cash ABC bounced back to an intraday high $116.82. Bitcoin Cash ABC came within range of $117 levels and the first major resistance level at $117.03 before easing back. At the time of writing, Bitcoin Cash ABC was up by 0.47% to $115.3. Moves through the early morning saw Bitcoin Cash ABC rise from a morning low $114.82 to a morning high $115.3, the days major support and resistance levels left untested early on. For the day ahead, a hold onto $115 levels through the morning would support a move through to $117 levels to bring the days first major resistance level at $117.64 into play before any pullback. We would expect Fridays high $116.82 to pin Bitcoin Cash ABC from a break out from $117 levels, barring support coming from a broad-based cryptomarket rally. Failure to hold onto $115 levels could see Bitcoin Cash ABC hit reverse. A fall through to $113 levels would bring the days first major support level at $111.07 into play before any recovery. We would expect Bitcoin Cash ABC to steer clear of sub-$110 levels in the event of a crypto sell-off later in the day. Litecoin Rallies Litecoin rallied by 3.58% on Friday, reversing a 0.92% slide on Thursday with interest, to end the day at $32.37. Tracking the broader market, Litecoin fell to an early morning intraday low $30.57 before steadying. The early pullback saw Litecoin fall through the first major support level at $30.63. Steering clear of sub-$30 levels, Litecoin rallied through the late morning and afternoon to an intraday high $33.21 before easing back. Litecoin broke through the first major resistance level at $32.03 and second major resistance level at $32.83 to hit $33 levels for the first time since 24 th January. Story continues At the time of writing, Litecoin was up 1.27% to $32.78. Litecoin rose from a start of a day morning low $32.34 to a morning high $32.94 before easing back, the days major support and resistance levels left untested early on. For the day ahead, a move back through the morning high $32.94 would bring $33 levels and the first major resistance level at $33.53 into play. Support from the broader market would be needed for Litecoin to take a run at $34 levels, while we would expect Litecoin to come up short of the second major resistance level at $34.69. Failure to move back through the morning high could see Litecoin give up the morning gains. A pullback through the morning low $32.34 could see Litecoin fall through to $31 levels, bringing the first major support level at $30.89 into play. We would expect Litecoin to avoid sub-$30 levels in the event of a reversal. Ripple Sees More Red Ripples XRP fell by 1.04% on Friday, following on from a 3.66% slide on Thursday, to end the day at $0.31253. A bearish start to the day saw Ripples XRP fall from a start of a day intraday high $0.31741 to an early morning intraday low $0.3008, before moving back to $0.31 levels. Whilst falling short of the first major resistance level at $0.3361, Ripples XRP called on support at the first major support level at $0.3014. At the time of writing, Ripples XRP was up 0.44% to $0.31392. Recovering from an early morning low $0.31187, Ripples XRP rose to a morning high $0.31468 before easing back, the major support and resistance levels left untested early on. For the day ahead, a hold above $0.3125 levels through the morning would support another run at the first major resistance level at $0.3197 to bring $0.32 levels into play. Sentiment across the broader market will need to materially improve through the afternoon to support a breakout to the second major resistance level at $0.3269. Failure to hold above $0.3125 levels could see Ripples XRP hit reverse. A fall through the morning low $0.31187 to sub-$0.31 levels would bring the days first major support level at $0.3031 into play before any recovery. With the second major support level sitting at $0.2936, we would expect Ripples XRP to find plenty of support at $0.30 levels to avoid a pullback to $0.29 levels, in the event of a sell-off. Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast natural gas markets finds support underneath Crude Oil Price Forecast crude oil continues to press major resistance AUD/USD Forex Technical Analysis Inside Trade Suggests Late Session Volatility AUD/USD Weekly Price Forecast Australian dollar rallies Silver Price Forecast Silver markets teeter on Friday Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 02/02/19 || NYC Bets on Crypto: Opens 4,000-Sq-Foot Blockchain Center amid Bitcoin Bear Market: new york city blockchain crypto New York City is doubling-down on crypto despite the bitcoin bear market. The NYC Economic Development Corp. opened a 4,000-square-foot Blockchain Center on Thursday (Jan. 10) amid the Crypto Winter. Why? Because the EDC is in it for the long haul, says an executive. We are playing the long game, Ana Arino the chief strategy officer at the EDC told Bloomberg . Its a nascent technology, so theres bound to be uncertainty around this evolution from year to year. While we dont know what the future holds, we want to make sure we have a seat at the table shaping it. Partners Include Microsoft and IBM The Blockchain Center is located in the trendy Flatiron district in downtown Manhattan. It joins other crypto and tech startups that populate New Yorks Silicon Alley tech hub. Thats Manhattans smaller version of Californias Silicon Valley. The center will offer coding classes and lectures to promote awareness and adoption of blockchain , the distributed ledger technology underpinning bitcoin. flatiron building new york The center was financed by the Global Blockchain Business Council (a trade group) and venture-capital fund FuturePerfect Ventures. The city of New York provided a one-time investment of $100,000. In addition, the center received funding from corporate partners, including Microsoft and IBM. The center plans to charge membership fees as it grows. While naysayers declared the death of bitcoin 90 times in 2018 due to plunging prices, even skeptics have praised the game-changing technology undergirding virtual currencies. MIT: Blockchain Will Become Mainstream As CCN reported, the anti-crypto MIT Technology Review expects blockchain to become so mainstream in 2019 that it will become boring. Corporate juggernaut Walmart has been testing a private blockchain system for years to track its food supply. Walmart will start using the system in 2019 and has urged some of its fresh-produce suppliers to join. Boring Blockchain Could Become Mainstream in 2019: MIT https://t.co/LApaoWsh3Y CCN.com (@CryptoCoinsNews) January 2, 2019 Similarly, French grocery mega-chain Carrefour is using blockchain to improve food safety by tracking chicken, eggs, and tomatoes as they travel from farms to stores. Story continues Carrefour is Europes largest retailer with more than 12,000 locations around the globe, so big-name corporations are already investing in the space. Rockefeller Dynasty Invests in Blockchain The emergence of blockchain into the mainstream isnt surprising because the foundation was being laid since last year. In 2018, the Rockefeller familys venture-capital arm Venrock stunned the crypto world by announcing it is investing in blockchain startups . The Rockefeller family with an estimated net worth topping $1 trillion is one of the richest dynasties in the world. The Rockefeller name carries establishment cachet, from Wall Street to Main Street. Venrock partner David Pakman underscored that his $2.6-billion investment fund is it for the long haul. Pakman said the fund is not interested in making short-term profits, but in making long-term investments to nurture blockchain technology. Rockefellers Go Long On Cryptocurrencies to Invest in Blockchain Startups https://t.co/vCpbSG3xSk CCN.com (@CryptoCoinsNews) April 10, 2018 The post NYC Bets on Crypto: Opens 4,000-Sq-Foot Blockchain Center amid Bitcoin Bear Market appeared first on CCN . || Japanese IT Giant GMO Confirms Launch of Yen-Backed Stablecoin GYEN in 2019: JapaneseIT giant GMO Internet has confirmed that it plans to launch its yen-backedstablecoinGYEN this year, Cointelegraph Japanreportedtoday, Feb. 12.
The news wasrevealedduring an earnings presentation to investors held today, after GMO releasedfinancial resultsfor the fiscal year ending Dec. 31, 2018.
The firm’s founder and CEO, Masatoshi Kumagai, as well as chief financial officer, Masashi Yasuda, answered questions from attendees. Following a question about the firm’s previouslyannouncedstablecoin, one of the executive answered:
“Regarding the plan to launch GYEN as announced last year, we plan to issue it in overseas this year.”
The company execs also revealed that the firm has set up a subsidiary and appointed a person responsible for GYEN operations to issue the stablecoin in 2019. The company further noted that it will be able to announce where the stablecoin will be issued shortly.
During the presentation, the GMO execs also told attendees that the firm had closed down one of its Northern Europeminingsites, and that the relocation of another site is expected to be completed by the end of 2019. While the new location is kept confidential by the company, the execs claimed that the local electricity cost “is less than half of that in Northern Europe, which is 7-8 cents per kWh including running costs.” They concluded:
“We believe the relocation will impact our earnings this summer.”
As outlined in GMO’s earningsreportfor last year, in the last quarter of 2018, the firm reported 2.3 billion Japanese yen (about $20.8 million) in revenue for its cryptocurrency-focused segment.
GMO’s crypto-related earnings from that quarter are over 12 percent lower than those reported for Q3 2018 and nearly 14 percent lower than the revenue reported for Q2 2018.
Still, the amount earned by the company through its cryptocurrency activity — comprised of a cryptocurrency exchange and mining operations — in Q4 2018 is nearly 73 percent higher than the 635 million yen (about $5.7 million) reported in Q1 2018.
However, GMO’s financial resultsreportthat its “profit attributable to owners of the parent company” for 2018 was 20.7 billion yen in the negative (about $187 million in losses), compared to a profit of 8 billion yen in 2017.
The reason for this performance, according to the document, is attributed to the “extraordinary loss of JPY 35,385 million related to the cryptocurrency mining business restructuring.”
This statement is in line with a recent monthly disclosure concerning GMO’s in-house crypto mining operations, whichreporteda steep hit in overall mining revenue. However, as the company explained at the time, even as overall revenue from mining tanked, the firm’s Bitcoin mining rewards consistently increased over time.
As Cointelegraphreportedin November, GMO’s third-quarter report for 2018 revealed a “historical performance” of its crypto-related sectors, despite “the harsh external environment.”
In a similar initiative to the GMO’s GYEN coin,South Korea-basedfintechfirm BxB Inc.launchedwhat is reportedly the firststablecoinbacked by the Korean won at the end of January.
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• Coincheck Q3 Finance Report Shows Twofold Improvement Since Trading Resumed || Long-Term Indicator Suggests Bitcoin Price May Be Nearing Bottom: • Bitcoin’s weekly MACD has diverged in favor of the bulls. The indicator carved out a higher low in December, even though bitcoin’s price slipped to $3,100, signaling waning bearish pressures 17 months before the mining rewardhalving. Bitcoin witnessed a similar MACD divergence 17 months before the previous halving in July 2016.
• The bullish MACD divergence indicates the cryptocurrency could be nearing a long-term bottom or may have carved out one near $3,100 in December. That said, a move above the 21-month exponential moving average (EMA), currently at $5,334, is needed to confirm a long-term bullish reversal.
• Bitcoin could rise above $4,000 if the inverse head-and-shoulders neckline, currently at $3,735, is breached. A downside break of the wedge pattern seen in the 4-hour chart could yield a re-test of $3,400.
A long-term price indicator validates a growing consensus among investors that bitcoin (BTC) is close to bottoming out.
BTC fell below $6,000 on Nov. 14, dashing hopes of a long-term bullish reversal from that long-held psychological support.
The subsequent sell-off came to a halt near $3,100 in December â 18 months ahead of the mining reward halving â triggering speculation that the cryptocurrency could bottom out in 2019. It is worth noting that BTCcreateda long-term bottom in January 2015 before undergoing a reward halving in July 2016.
Nasdaq to Add Bitcoin and Ethereum Indices to Global Data Service
While investorsare bettingthat history will repeat itself, bitcoin’s corrective rally from December lows is struggling to pick up the pace.
That, however, could change in the near future, as the bitcoinâs moving average convergence divergence (MACD) â a momentum indicator based upon price moving averages â is signaling waning bearish pressures.
TheMACDÂ usually moves in the direction of the price trend and indicates the strength of a move.
Bitcoin’s weekly MACD, however, has diverged from the primary bearish trend, i.e. the price hit a lower low near $3,100 in December, while the MACD carved out a higher low. A bullish divergence is widely considered a sign of seller exhaustion and is often followed by trend reversal.
Bitcoin Making Little Headway as Resistance Caps Price Gains
As of writing, BTC is changing hands at $3,570 on Bitstamp, having hit highs above $3,700 last week.
On the weekly chart, the MACD has produced a higher low in favor of the bulls. It is worth noting that a similar bullish divergence was charted over the five months leading up to January 2015, when BTC bottomed out near $150.
So, there is a reason to believe the cryptocurrency is nearing, or has already reached, a major bottom.
As a result, the probability of BTC witnessing a bullish reversal in the next few months is high. A convincing move above the 21-month exponential moving average (EMA) â a levelwhich actedas strong support last year â would confirm a long-term bearish-to-bullish trend change. As of writing, that average is located at $5,334.
Meanwhile, the prospects of a short-term rally to $4,000 would improve if BTC clears the resistance at $3,735.
BTC has carved out a falling wedge pattern â a bullish continuation pattern â on the 4-hour chart. A move above $3,585 would confirm a wedge breakout and could yield a rally to $3,735, which is the neckline of the inverse head-and-shoulders bullish reversal pattern. A violation there would open up upside toward $4,100 (target as per the measured move method).
A wedge breakdown, however, would weaken the bullish caseput forwardby last Friday’s high-volume bullish breakout and shift risk in favor of a drop to $3,400.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
BitcoinÂimage via Shutterstock;Âcharts byÂTrading View
• Litecoin’s Halving Is Months Away, But Traders May Already Be Pricing It In
• Bitcoin Price Pattern Hints at Short-Term Rally to $4K || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 24/01/19: Bitcoin Cash ABC Breaks Out Bitcoin Cash ABC rose by 3.59% on Wednesday, following on from a 5.08% rally on Tuesday, to end the day at $131.33. Bullish through to the late afternoon, Bitcoin Cash ABC rallied from a start of a day intraday low $126.64 to a late afternoon intraday high $134.06 before easing back. Steering clear of the first major support level at $118.01, Bitcoin Cash ABC broke through the first major resistance level at $133.42 before falling back to sub-$130 levels. In spite of the late pullback, Bitcoin Cash ABC found support to recover to $131 levels. At the time of writing, Bitcoin Cash ABC was down 1.77% to $129.00, with a late pullback from Wednesday continuing into the early hours, Bitcoin Cash ABC falling from a start of a day high $130.27 to a morning low $129.00. The days major support and resistance levels were left untested early on. For the day ahead, a move back through the morning high to $131 levels would support a run at $133 levels to bring the first major resistance level at $134.71 into play before any pullback. Wednesdays high $134.06 and the days first major resistance level will likely pin Bitcoin Cash ABC back from a breakout to $135 levels on the day. Failure to move through this mornings high could see Bitcoin Cash ABC take a bigger hit later in the day, with a fall to $128 levels likely to see Bitcoin Cash ABC call on support at the first major support level at $127.29 before any recovery. Heavier losses could be on the cards should the broader markets hit red, though we would expect Bitcoin Cash ABC to steer clear of sub-$124 support levels. Litecoin Holds On Litecoin gained 0.41% on Wednesday, following on from a 2.11% rise on Tuesday, to end the day at $31.6 A mixed start to the day saw Litecoin fall to a late morning intraday low $31.31 before finding support, Litecoin managing to steer clear of sub-$30 levels and the first major support level at $29.92. Story continues Recovering through the late morning, Litecoin struck an intraday high $32.2, coming up short of the first major resistance level at $32.52 before easing back to hold onto $31 levels by the days end. At the time of writing, Litecoin was down 0.09% to $31.57, with Litecoin falling from a start of a day morning high $31.78 to a morning low $31.57, the days major support and resistance levels left untested early on. For the day ahead, a move through to $31.7 levels would support another run at $32 levels to bring the first major resistance level at $32.10 into play. A broad based crypto rally would bring the second major resistance level at $32.59 into play, while we would expect Litecoin to fall short of $33 levels on the day. Failure to move back through to $31.70 levels could see Litecoin fall deeper into the red, with a fall through to sub-$31.5 levels bringing the first major support level at $31.21 into play before any recovery. Sub-$31 support levels could come into play later in the day should sentiment across the broader market fail to improve. Ripple Loses More Ground Ripples XRP fell by 0.97% on Wednesday, reversing a 0.22% gain from Monday, to end the day at $0.32046. An early morning intraday high $0.32586 was as bullish as it got, with Ripples XRP falling well short of $0.33 levels and the first major resistance level at $0.3307. Bearish through much of the day, Ripples XRP fell to a late in the day intraday low $0.3180, before recovering to $0.32 levels, Ripples XRP managing to hold above the first major support level at $0.3136 on the day. At the time of writing, Ripples XRP was down 0.13% to $0.32003, with Ripples XRP recovering from an early morning low $0.31972 to hit a morning high $0.32052 before easing back, the days major support and resistance levels left untested early on. For the day ahead, a move through to $0.3215 levels would support a run at the first major resistance level at $0.3249, with any support from the broader market likely to bring the second major resistance level at $0.3293 into play before any pullback. Ripples XRP has trailed the majors through the week so could be ripe for a bounce should sentiment improve. Failure to move through to $0.3215 levels could see Ripples XRP pullback deeper into the red, a fall through the morning low $0.31972 bringing the first major support level at $0.3170 into play. A broad based sell-off could see Ripples XRP call on support at the second major support level at $0.3136. Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis January 24, 2019 Forecast Gold Price Prediction Prices Consolidate Ahead of Senate Vote The Aussie Gets a Boost Early as Focus Shifts to the EUR and the ECB Bitcoin Back in a Rut and Relying on sub-$3,600 Support GBP/USD Price Forecast Cable breaks major resistance EUR/USD Price Forecast Euro continues to see support underneath || Ethereum Price Struggles to Hold above $100 as Crypto Winter Grows More Frigid: ethereum price crypto winter bitcoin Since our last crypto market round-up report on Friday , the climate has changed significantly for at least one major cryptocurrency: Ethereum. All eyes are on Ether as it pushes closer and closer to the $100 mark. Bitcoin, meanwhile, briefly crossed the threshold of $3,400. By most accounts , the Bitcoin price is working on a test of the $3,000 mark, which is both a psychological and market indicator. Bitcoin Price Likely to Test $3,000 The Bitcoin price s 3-day chart looks a bit hellish if youre a bull in this cold weather. bitcoin price Bitcoin has lost $200 over the past three days. Bitcoin has lost $200 over the past three days. Average users and merchants will feel a difference such as this. Momentum seems to be dying on any form of bull run. There seems a strong likelihood that resurgences like weve seen the past day and a half are merely bots buying the dip, without the foresight to see that even cheaper prices may be on the horizon. Read the full story on CCN.com . || Coinbase’s Wallet App Is Getting Bitcoin Support This Week: Coinbase users will soon be able to directly control their bitcoin holdings from the firmâs Wallet app.
The San Francisco-based cryptocurrency exchangeannouncedthe news in a blog post Wednesday, saying that Coinbase Wallet will be updated over the next week to add bitcoin support to all users on iOS and Android.
Bitcoin support will be âactivated by default,” Coinbase said, meaning users will just have to tap âreceiveâ tab in the app and select “bitcoin” to receive the cryptocurrency directly in the wallet.
Coinbase Extends PayPal Withdrawal Option to 32 European Countries
Coinbase Wallet already supports ethereum (ETH), ethereum classic (ETH) and “over 100,000” different ERC-20 tokens and ERC-721 collectibles built on ethereum, the exchange said, adding that it is also working on to add support for bitcoin cash (BCH), litecoin (LTC) and other major cryptos to its wallet going forward.
Coinbase explained that with the main Coinbase app or Coinbase.com, users can buy cryptocurrencies and the exchange itself stores the keys centrally. But with Coinbase Wallet app, users safeguard their own private keys, which are encrypted using Secure Enclave technology for better security.
The app supports bothSegWit and legacy bitcoin addresses for backwards compatibility.
Coinbase continues to add new and expanded services. Just yesterday, the exchangeannouncedÂthat its customers in the 32 EU and European Free Trade Association countries can now make withdrawals into their PayPal accounts. The feature has been live in the U.S. for some time.
Binance’s Crypto Winter Strategy: Build and Beef Up Partnerships
Last month, Coinbaseaddedsupport for cross-border wire transfers for institutional clients in Asia, the U.K. and Europe. And itÂintegrated with tax-filing platform TurboTax, offered by Intuit Consumer Tax Group, to help U.S. clients file taxes on their cryptos.
Walletimage via Shutterstock
• Coinbase’s Director of Data Science and Risk Leaves to ‘Build From Scratch’
• Germany’s No.2 Stock Exchange Launches Mobile App for Crypto Trading
[Random Sample of Social Media Buzz (last 60 days)]
My boy! I’ll dm you || (Bitcoin Price Defends $3.5K After Cboe Pulls ETF Proposal) StockaWiki | Fast Breaking Financial News
With bitcoin (BTC) showing resilience to negative news flow, a strong bullish move is looking increasingly likely.
On Wednesday, the... - https://is.gd/C7O47i pic.twitter.com/gg3e48nFkN || $KNHBF UPDATE Danish Advancements, ICC Gears Up for Key Role in European Supply Chain #CFN #Media
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#ad #wsj #nytimes #reuters #bloomberg #forbes #nasdaq #IHub_StockPosts #newyork #business #bitcoin #blockchain #music #crypto #cannabis #marijuana #CBDpic.twitter.com/YmwmscjXXV || You can run Bitcoin the way you like it and we will run Ethereum the way we like it. We run with pruned nodes, since Ethereum has so many more state transitions than Bitcoin does.
If anyone wants to see those intermediate state transitions they can replay the chain. || Top 5 #cryptocurrencies
Alert Time: 2019-01-16 14:40:02
#Bitcoin: $3,662.393
#XRP: $0.333
#Ethereum: $124.295
#BitcoinCash: $130.421
#EOS: $2.438
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Lets GAIN FOLLOWER
LETS GROW TO BIGGEST CRYPTO COMMUNITY
#gain #tron #trx #btc #eth #xlm #xrp || Why is $1 Billion Bitcoin Giant Bitfury Building a Blockchain Music Service? https://todayforyou.org/2019/01/20/why-is-1-billion-bitcoin-giant-bitfury-building-a-blockchain-music-service/ … || Average Bitcoin market price is: USD 3,584.57, EUR 3,138.90 || http://www.shutterstock.com/?rid=4502506 #photofday #bitcoin #drone #travel #dronephotography #usa #germany || #UnitedNations Calls Bitcoin and Crypto ‘New Frontier’ in Finance, Explores Ripple and #IOTATechnologies... http://un.trendolizer.com/2019/01/united-nations-calls-bitcoin-and-crypto-new-frontier-in-finance-explores-ripple-and-iota-technologie.html …pic.twitter.com/NLB5LEoAjW
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Trend: down || Prices: 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-06-07]
BTC Price: 576.60, BTC RSI: 80.96
Gold Price: 1244.40, Gold RSI: 50.65
Oil Price: 50.36, Oil RSI: 70.25
[Random Sample of News (last 60 days)]
The Market In 5 Minutes: May, She Will Stay: Below is a tool used by the Benzinga News Desk each trading day -- it's a look at everything happening in the market, in five minutes. Apply for daily AM access by clicking here or email minutes@benzinga.com. Macro Focus Asian stocks were mostly lower , led by another selloff in Japanese equities. Japan's Nikkei index tumbled 3.11 percent, adding to Thursday's 3.61 percent loss (Japanese markets were closed on Friday for a national holiday), after the country's currency realized its largest two-day gain against the U.S. dollar since 2008. Oil prices were trading lower Monday morning. As a reminder, OPEC said on Friday its April export activity rose to 32.64 million barrels per day (from 32.47 million in March) - close to the highest level in recent history. Crude futures for June delivery were lower by 0.7 percent at $45.60 a barrel, while Brent crude for June delivery was lower by 1.1 percent at $46.84 a barrel. Gov. Alejandro Garcia Padilla announced Puerto Rico's government won't make nearly $370 million in bond payments due Monday after a failure to restructure or find a political solution to the U.S. territory's spiraling public debt crisis. Nearly all the bonds are held by a variety of U.S. hedge funds and mutual funds. BZ News Desk Focus Upcoming earnings highlights include reports from two leading specialty retailers -- CVS Health (NYSE: CVS ) and Whole Foods (NASDAQ: WFM ) -- as well as two major pharmaceutical companies -- Merck (NYSE: MRK ) and Pfizer (NYSE: PFE ). Ford Motor (NYSE: F ) CFO Bob Shanks joined the PreMarket Prep broadcast this morning. Check back soon for updates from the call, such as Ford having the largest fleet of autonomous vehicles in the world. Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep . Sell-Side Themes A handful of analysts weighed in on Seagate (NASDAQ: STX ) following its earnings miss and subsequent stock fall late last week. Brean even admitted it was wrong on the stock. Sell-Side's Most Noteworthy Calls Colgate-Palmolive (NYSE: CL ) raised to Neutral at Goldman. Starz (NASDAQ: STRZA ) upgraded to Outperform from Underperform at CLSA. L-3 Communications (NYSE: LLL ) raised to Buy at Goldman. Vale (NYSE: VALE ) upgrade from Hold to Buy at BB&T. Seagate (NASDAQ: STX ) cut to Sector Perform at RBC Capital. Groupon (NASDAQ: GRPN ) downgraded to Underperform at RBC Capital Markets. Time Warner (NYSE: TWX ) cut to Sector Weight at Pacific Crest. TiVo (NASDAQ: TIVO ) downgraded to Hold at Topeka Capital. United Technologies (NYSE: UTX ) cut to Neutral at Goldman. Story continues Buy-Side Pernix Therapeutics (NASDAQ: PTX ) shares rose 69.31 percent to $1.270 in pre-market trading following Friday's report of a 5.8 percent Stake by Point 72. Deal Talk Halliburton (NYSE: HAL ) and Baker Hughes (NYSE: BHI ) announced over the weekend that the companies have terminated their proposed merger agreement, which was proposed back in November 2014. Halliburton proposed to acquire Baker Hughes in a transaction valued at $28 billion. However, regulatory and competitive concerns prompted antitrust officials to heavily scrutinize the deal. Apollo Education (NASDAQ: APOL ) says it's received a revised buyout offer of $10 per share from a consortium led by Apollo Global Management (NYSE: APO ), notes it represents "an excellent outcome for shareholders." In The News Warren Buffett has some sage advice for youngsters who one day may invest in the stock market: "A lot of problems are caused by envy. You don't want to get envious. Follow your own course." Attention Twitter (NYSE: TWTR ) and it shareholders: Digital-video ad spending in the US is expected to grow 28.5 percent this year to $9.84 billion, according to eMarketer. "Australian entrepreneur Craig Wright has publicly identified himself as Bitcoin creator Satoshi Nakamoto. His admission ends years of speculation about who came up with the original ideas underlying the digital cash system," BBC reports. "Mr. Wright has provided technical proof to back up his claim using coins known to be owned by Bitcoin's creator. Prominent members of the Bitcoin community and its core development team have also confirmed Mr Wright's claim." Is another tech bubble bursting? Despite record amount of money flowing into venture capital, funding for startups is drying up. Blogosphere After a scary start to the year, bond investors holding the riskiest debt will have been relieved to have ended April 5.3 percent ahead. If history is any guide, returns were to be expected. Whether May will bring a similar result is a coin-toss, and Gadfly's Christopher Langner says there's one certainty: more volatility. Philosophical Economics: Does index investing make markets and economies more efficient? Trending NUGT ACAD PTX DUST GLD GDX APOL BHI BIDU VALE GOLD HAL JNUG OPWR JCP [StockTwits] In his final run as comedian-in-chief at the White House Correspondents' Dinner on Saturday, President Barack Obama closed his speech with "Obama out," and a mic drop before receiving a standing ovation from Washington's bigwigs and Hollywood. Meanwhile, featured comedian Larry Wilmore has received some mixed reactions for his part. See more from Benzinga The Market In 5 Minutes: You're Not Your Job The Market In 5 Minutes: Thumbs Up The Market In 5 Minutes: Sour Apples And Greek Goddesses © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Banks, tech companies move on from bitcoin to blockchain: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - As a debate raged across the internet Monday over whether the mysterious founder of the bitcoin digital currency had finally been identified, executives at a major bitcoin conference in New York had a simple message: we've moved on.
That's because bitcoin, the digital currency, has largely been supplanted by blockchain, the technology that underlies it, as the main interest of investors, technology companies and financial institutions.
"If there is a 100 percent opportunity in the blockchain, bitcoin, or the currency, is only 1 percent of it," said Jerry Cuomo, vice president, Blockchain Technologies at International Business Machines Corp. "So there is a whole 99 percent that has broad applications across the broad industries."
Over the past year numerous Wall Street firms, led by Goldman Sachs, have declared their commitment to pursuing blockchain as a potential revolutionary technology for tracking and clearing financial transactions.
The blockchain technology works by creating permanent, public "ledgers" of all transactions that could potentially replace complicated clearing and settlement systems with one simple ledger.
Still, bitcoin is by far the largest implementation of blockchain technology and there is considerable debate as to whether one can truly develop without the other.
"Bitcoin is still the only blockchain-enabled, cross-border large scale, provable application that's actually in production," said Joseph Guastella, a principal at Deloitte Consulting in New York. "Bitcoin as a currency may not be as relevant as it was in many ways, but it actually is relevant as a proof case for the blockchain technology."
Bitcoins are created through a "mining" process, in which specialized computers solve complex math problems in exchange for bitcoins. One bitcoin is equivalent to $444.75 late on Monday and trade on various exchanges around the world.
But bitcoin transaction volume has been in decline over the past six months amid a bitter split over technical changes in the protocol that are needed to increase the capacity of the system that produces them. Because the cryptocurrency has no formal governance, it relies on a core group of developers for direction - and they are sharply divided over the changes.
But that debate was of relatively little concern to the Blockchain enthusiasts gathered in New York.
Australian tech entrepreneur Craig Wright identified himself on Monday as the creator of controversial digital currency bitcoin.
"It's irrelevant because his announcement doesn't solve a problem or resolve a conflict," said Bharat Solanki, managing director at Cambrian Consulting in New York.
"It probably helps to determine the origins of bitcoin but only for recognition," Solanki said.
For Naoki Taniguchi, a global innovation expert at The Bank of Tokyo-Mitsubishi UFJ Ltd in San Francisco, he does not really care about who created bitcoin.
"It's all about the blockchain," he said.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Jonathan Weber, Bernard Orr) || Australian says he created bitcoin, but some sceptical: By Byron Kaye and Jemima Kelly SYDNEY/LONDON (Reuters) - Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now. Uncovering Nakamoto's real identity would solve a riddle dating back to the publication of the open source software behind the cryptocurrency in 2008, before its launch a year later. Bitcoin has since become the world's most commonly used virtual currency, attracting the interest of banks, speculators, criminals and regulators. Worth a total of $7 billion at current levels, it fell more than 3 percent on Monday -- a normal intraday move for the volatile currency -- after the news, to below $440 from around $455, before recovering slightly. Some online commentators suggested bitcoin's creator could help resolve a bitter row among the currency's software developers that threatens its future. But Wright made no reference to the row in a BBC interview identifying himself as Nakamoto, and as the protocol bitcoin runs on is open-source and cannot be controlled by any one person, it is unclear whether he would be able to influence the way it develops. "I was the main part of it, other people helped me," Wright, who is now living in London, told the BBC. "Some people will believe, Some people won't, and to tell you the truth, I don't really care," he said. Many bitcoiners said Wright had not done enough to definitively prove that he was Nakamoto, who maintained his anonymity throughout his involvement with bitcoin, which he stepped away from in 2011. But Gavin Andresen, who Nakamoto chose to succeed him, published a blog post in which he described meeting Wright last month and said he is convinced beyond a reasonable doubt that the Australian is Nakamoto. Jon Matonis, a founding director of the Bitcoin Foundation now works as a bitcoin consultant, wrote a blog post on Monday which, like Andresens, supported Wrights claims. According to me, the proof is conclusive and I have no doubt that Craig Steven Wright is the person behind the Bitcoin technology, Nakamoto consensus, and the Satoshi Nakamoto name, Matonis wrote. He and Andresen also confirmed they had been responsible for their respective blog posts to Reuters directly. LEGACY Nakamoto's biggest likely legacy lies well beyond his control. The blockchain technology that underpins the currency could transform the way banks settle transactions, the way that property rights and other vital data are recorded, and provide a way for central banks to issue their own digital currencies. The BBC reported on Monday that Wright gave some technical proof demonstrating that he had access to blocks of bitcoins known to have been created by bitcoin's creator. Researchers believe Nakamoto may be holding up to one million of the more than 15 million bitcoins currently in circulation, which would make the creator worth around $440 million. In a blog post also dated Monday, Wright posted an example of a signature used by Nakamoto and an explanation of how bitcoin transactions are verified and thanked all those who had supported the project from its inception. "This incredible communitys passion and intellect and perseverance have taken my small contribution and nurtured it, enhanced it, breathed life into it," he wrote. However he did not state directly that he was Nakamoto. "Satoshi is dead," he said. "But this is only the beginning." Bitcoin expert Peter Van Valkenburgh, director of research at Washington, D.C.-based advocacy group Coin Center, said a new message cryptographically signed using the private key associated with the so-called Genesis block, the first ever "mined" would have been more convincing. The currency's "miners" are incentivised to process transactions every 10 minutes by a possible reward of bitcoins (25 currently), which is how new bitcoins are created. Wright also spoke with The Economist, but declined requests from the magazine to provide further proof that he was Nakamoto. His representatives told Reuters he would not be taking part in more media interviews for the time being. "Our conclusion is that Mr Wright could well be Mr Nakamoto, but that important questions remain," The Economist said. "Indeed, it may never be possible to establish beyond reasonable doubt who really created bitcoin. Hopes that bitcoin would become broadly used helped buoy its price to more than $1,000 in December 2013, when its market capitalisation was $13 billion compared with today's $7 billion. Wright told The Economist he would exchange bitcoin he owns slowly to avoid pushing down its price. HOME RAIDED In December, police raided Wright's Sydney home and office after Wired magazine named him as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency. At the time he made no comment. The treatment of bitcoins for tax purposes in Australia has been the subject of considerable debate. The Australian Tax Office (ATO) ruled in December 2014 that cryptocurrency should be considered an asset, rather than a currency, for capital gains tax purposes. On Monday, the ATO said it had no comment while police were not immediately available for comment. If Wright is Nakamoto he "is now the leader of a movement", said Roberto Capodieci, a Singapore-based entrepreneur working on the blockchain, the technology underlying the currency. That movement ranges from libertarian enthusiasts to central banks experimenting with digital currencies, all of which pay homage in some way to Nakamoto's writings. (Additional reporting by Jeremy Wagstaff in Singapore, Matt Siegel in Sydney and Paul Sandle in London; Editing by Nick Macfie, Raju Gopalakrishnan and Philippa Fletcher) || After Microsoft R3CV Deal, Bank of Ireland Shared Blockchain Trial: Blockchain and BMW: Microsoft Is Making Big Strides ( Continued from Prior Part ) Bank of Ireland shared successful blockchain trial in April 2016 Previously in this series, we discussed how tech players like Microsoft (MSFT), Red Hat (RHT), and IBM (IBM) are making moves to advance blockchain technology. On April 5, 2016, the Bank of Ireland (IREBY) stated that in collaboration with Deloitte, the bank has successfully finished a joint proof-of-concept blockchain trial. The bank’s trial demonstrated the application of a distributed ledger as an available data layer over current financial systems while keeping the focus on trade reporting. The Bank of Ireland noted that the research showed an improved customer experience and regulatory oversight, which was available at a lower cost than the traditional banking systems. Stephen Moran, innovation manager at Bank of Ireland, stated, “While blockchain technology can be seen as disruptive, it can actually complement a bank’s existing legacy systems.” Financial services are agreeing to the disruptive nature of blockchain technology Garrick Hileman, economic historian at the London School of Economics and the University of Cambridge in the UK (EWU), stated, “2015 was very much the year of the blockchain for financial services. They clearly see the disruptive potential of the technology and are keeping their cards close to their chest regarding how they want to play it.” These financial organizations can opt for a public or private blockchain. In January 2016, R3CV disclosed that it is in the process of developing a private blockchain system that is restricted or requires permission. On the other hand, the Bitcoin blockchain is a public blockchain with an open and transparent database, wherein anyone who has Bitcoin can acquire access to record transactions on it. As the above chart shows, the number of Bitcoin blockchain users have increased tremendously since 2012. Investors who wish to gain exposure to Microsoft could consider investing in the Technology Select Sector SPDR ETF (XLK). While XLK invests ~10.6% of its holdings in Microsoft, it also has an exposure of ~38% to application software. Continue to Next Part Browse this series on Market Realist: Part 1 - Microsoft Azure Wins a High-Profile Customer in BMW Part 2 - How Microsoft’s Azure Is Giving Stiff Competition to Amazon’s AWS Part 3 - Why Microsoft’s Partnership with R3CV Is Making News View comments || Banks, tech companies move on from bitcoin to blockchain: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - As a debate raged across the internet Monday over whether the mysterious founder of the bitcoin digital currency had finally been identified, executives at a major bitcoin conference in New York had a simple message: we've moved on. That's because bitcoin, the digital currency, has largely been supplanted by blockchain, the technology that underlies it, as the main interest of investors, technology companies and financial institutions. "If there is a 100 percent opportunity in the blockchain, bitcoin, or the currency, is only 1 percent of it," said Jerry Cuomo, vice president, Blockchain Technologies at International Business Machines Corp. "So there is a whole 99 percent that has broad applications across the broad industries." Over the past year numerous Wall Street firms, led by Goldman Sachs, have declared their commitment to pursuing blockchain as a potential revolutionary technology for tracking and clearing financial transactions. The blockchain technology works by creating permanent, public "ledgers" of all transactions that could potentially replace complicated clearing and settlement systems with one simple ledger. Still, bitcoin is by far the largest implementation of blockchain technology and there is considerable debate as to whether one can truly develop without the other. "Bitcoin is still the only blockchain-enabled, cross-border large scale, provable application that's actually in production," said Joseph Guastella, a principal at Deloitte Consulting in New York. "Bitcoin as a currency may not be as relevant as it was in many ways, but it actually is relevant as a proof case for the blockchain technology." Bitcoins are created through a "mining" process, in which specialized computers solve complex math problems in exchange for bitcoins. One bitcoin is equivalent to $444.75 late on Monday and trade on various exchanges around the world. But bitcoin transaction volume has been in decline over the past six months amid a bitter split over technical changes in the protocol that are needed to increase the capacity of the system that produces them. Because the cryptocurrency has no formal governance, it relies on a core group of developers for direction - and they are sharply divided over the changes. But that debate was of relatively little concern to the Blockchain enthusiasts gathered in New York. Australian tech entrepreneur Craig Wright identified himself on Monday as the creator of controversial digital currency bitcoin. "It's irrelevant because his announcement doesn't solve a problem or resolve a conflict," said Bharat Solanki, managing director at Cambrian Consulting in New York. Story continues "It probably helps to determine the origins of bitcoin but only for recognition," Solanki said. For Naoki Taniguchi, a global innovation expert at The Bank of Tokyo-Mitsubishi UFJ Ltd in San Francisco, he does not really care about who created bitcoin. "It's all about the blockchain," he said. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Jonathan Weber, Bernard Orr) View comments || Australian says he created bitcoin, but some skeptical: By Byron Kaye and Jemima Kelly
SYDNEY/LONDON (Reuters) - Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now.
Uncovering Nakamoto's real identity would solve a riddle dating back to the publication of the open source software behind the cryptocurrency in 2008, before its launch a year later.
Bitcoin has since become the world's most commonly used virtual currency, attracting the interest of banks, speculators, criminals and regulators.
Worth a total of $7 billion at current levels, it fell more than 3 percent on Monday -- a normal intraday move for the volatile currency -- after the news, to below $440 from around $455, before recovering slightly.
Some online commentators suggested bitcoin's creator could help resolve a bitter row among the currency's software developers that threatens its future.
But Wright made no reference to the row in a BBC interview identifying himself as Nakamoto, and as the protocol bitcoin runs on is open-source and cannot be controlled by any one person, it is unclear whether he would be able to influence the way it develops.
"I was the main part of it, other people helped me," Wright, who is now living in London, told the BBC. "Some people will believe, Some people won't, and to tell you the truth, I don't really care," he said.
Many bitcoiners said Wright had not done enough to definitively prove that he was Nakamoto, who maintained his anonymity throughout his involvement with bitcoin, which he stepped away from in 2011.
But Gavin Andresen, who Nakamoto chose to succeed him, published a blog post in which he described meeting Wright last month and said he is “convinced beyond a reasonable doubt” that the Australian is Nakamoto.
Jon Matonis, a founding director of the Bitcoin Foundation now works as a bitcoin consultant, wrote a blog post on Monday which, like Andresen’s, supported Wright’s claims.
“According to me, the proof is conclusive and I have no doubt that Craig Steven Wright is the person behind the Bitcoin technology, Nakamoto consensus, and the Satoshi Nakamoto name,” Matonis wrote. He and Andresen also confirmed they had been responsible for their respective blog posts to Reuters directly.
LEGACY
Nakamoto's biggest likely legacy lies well beyond his control. The blockchain technology that underpins the currency could transform the way banks settle transactions, the way that property rights and other vital data are recorded, and provide a way for central banks to issue their own digital currencies.
The BBC reported on Monday that Wright gave some technical proof demonstrating that he had access to blocks of bitcoins known to have been created by bitcoin's creator.
Researchers believe Nakamoto may be holding up to one million of the more than 15 million bitcoins currently in circulation, which would make the creator worth around $440 million.
In a blog post also dated Monday, Wright posted an example of a signature used by Nakamoto and an explanation of how bitcoin transactions are verified and thanked all those who had supported the project from its inception.
"This incredible community’s passion and intellect and perseverance have taken my small contribution and nurtured it, enhanced it, breathed life into it," he wrote.
However he did not state directly that he was Nakamoto. "Satoshi is dead," he said. "But this is only the beginning."
Bitcoin expert Peter Van Valkenburgh, director of research at Washington, D.C.-based advocacy group Coin Center, said a new message cryptographically signed using the private key associated with the so-called Genesis block, the first ever "mined" would have been more convincing.
The currency's "miners" are incentivized to process transactions every 10 minutes by a possible reward of bitcoins (25 currently), which is how new bitcoins are created.
Wright also spoke with The Economist, but declined requests from the magazine to provide further proof that he was Nakamoto. His representatives told Reuters he would not be taking part in more media interviews for the time being.
"Our conclusion is that Mr Wright could well be Mr Nakamoto, but that important questions remain," The Economist said. "Indeed, it may never be possible to establish beyond reasonable doubt who really created bitcoin.”
Hopes that bitcoin would become broadly used helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion compared with today's $7 billion.
Wright told The Economist he would exchange bitcoin he owns slowly to avoid pushing down its price.
HOME RAIDED
In December, police raided Wright's Sydney home and office after Wired magazine named him as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency. At the time he made no comment.
The treatment of bitcoins for tax purposes in Australia has been the subject of considerable debate. The Australian Tax Office (ATO) ruled in December 2014 that cryptocurrency should be considered an asset, rather than a currency, for capital gains tax purposes.
On Monday, the ATO said it had no comment while police were not immediately available for comment.
If Wright is Nakamoto he "is now the leader of a movement", said Roberto Capodieci, a Singapore-based entrepreneur working on the blockchain, the technology underlying the currency.
That movement ranges from libertarian enthusiasts to central banks experimenting with digital currencies, all of which pay homage in some way to Nakamoto's writings.
(Additional reporting by Jeremy Wagstaff in Singapore, Matt Siegel in Sydney and Paul Sandle in London; Editing by Nick Macfie, Raju Gopalakrishnan and Philippa Fletcher) || What to do if hackers hold your computer hostage and demand cash: Ransomware can ruin your computer and all of your files. You’re sitting at your computer when you get an email from your local bank saying you were just hit with a charge for a new $1,200 MacBook that you never bought. You click the email and follow the embedded link or download the included receipt to find out what’s up. Just like that, your computer has been infected with ransomware. You can’t access your files, and all you can see is a timer counting down the time until hackers delete your computer’s drive unless you pay them a fee in iTunes gift cards. All you can do is scratch your head and wonder what the hell just happened. Well, I’m here to explain that to you — and to help you fight back against ransomware criminals. The most important thing to remember is this: Never, ever pay the ransom. Ransom? Let’s start with the basics. A particularly nefarious form of malware, ransomware is a piece of software criminals use to lock you out of your computer by encrypting its files and holding them for ransom for a specific dollar amount. If you don’t pay up, you can potentially say goodbye to your photos, tax documents, pay stubs, and any other documents you’ve saved throughout the years. This isn’t some idle threat, either. If you don’t pay, your documents will disappear or simply stay locked up until you completely reformat your system. Ransomware programs sometimes require you to pay in Bitcoin, an anonymous currency that can’t be tracked. However, criminals have increasingly begun demanding payment in the form of iTunes or Amazon gift cards, since the average person doesn’t know how to use Bitcoin, according to Gary Davis, chief consumer security evangelist at Intel Security. The amount you have to pay to unlock your computer can vary, with some experts saying criminals will ask for up to $500. To be clear, ransomware doesn’t just target Windows PCs. The malware has been known to impact systems ranging from Android phones and tablets to Linux-based computers and Macs. Where it comes from According to Davis, ransomware was actually popular among cybercriminals over a decade ago. But it was far easier to catch the perpetrators back then since anonymous currency like Bitcoin didn’t exist yet. Bitcoin helped changed all that by making it nearly impossible to track criminals based on how victims pay them. Story continues Ransomware There are multiple types of ransomware out there, according to Chester Wisniewski, a senior security advisor with the computer security company Sophos. Each variation is tied to seven or eight criminal organizations. Those groups build the software and then sell it on the black market, where other criminals purchase it and then begin using it for their own gains. How they get you Ransomware doesn’t just pop up on your computer by magic. You actually have to download it. And while you could swear up and down that you’d never be tricked into downloading malware, cybercriminals get plenty of people to do just that. Here’s the thing: That email you opened to get ransomware on your computer in the first place was specifically written to get you to believe it was real. That’s because criminals use social engineering to craft their messages. For example, hackers can determine your location and send emails that look like they’re from companies based in your country. “Criminals are looking are looking up information about where you live, so you’ll click (emails),” Wisniewski explained to Yahoo Finance. “So if you’re in America, you’ll see something from Citi Bank, rather than Deutsche Bank, which is in Germany.” Cybercriminals can also target ransomware messages to the time of year. So if it’s the holiday shopping season, criminals might send out messages supposedly from companies like the US Postal Service, FedEx or DHL. If it’s tax time, you could receive a message that says it’s from the IRS. Other ransomware messages might claim the FBI has targeted you for using illegal software or viewing child pornography on your computer. Then, the message will tell you to click a link to a site to pay a fine — only to lock up your computer after you click. It’s not just email, though. An attack known as a drive-by can get you if you simply visit certain websites. That’s because criminals have the ability to inject their malware into ads or links on poorly secured sites. When you go to such a site, you’ll download the ransomware. Just like that, you’re locked out of your computer. How to protect yourself Ransomware attacks vulnerabilities in outdated versions of software. So, believe it or not, the best way to protect yourself is to constantly update your operating system’s software and apps like Adobe Reader. That means you should always click that little “update” notification on your desktop, phone, or tablet. Don’t put it off. Beyond that, you should always remember to back up your files. You can either do that by backing them up to a cloud service like Amazon Cloud, Google Drive or iCloud, or by backing up to an external drive. That said, you’ll want to be careful with how you back up your content. That’s because, according to Kaspersky Lab’s Ryan Naraine, some ransomware can infect your backups. A fake warning used by ransomware criminals. Naraine warns against staying logged into your cloud service all the time, as some forms of malware can lock you out of even them. What’s more, if you’re backing up to an external hard drive, you’ll want to disconnect it from your PC when you’re finished, or the ransomware could lock that, as well. Naraine also says you should disconnect your computer from the internet if you see your system being actively encrypted. Doing so, he explains, could prevent all of your files that have yet to be encrypted from being locked. Above all, every expert I spoke with recommended installing some form of anti-virus software and some kind of web browser filtering. With both types of software installed, your system up to date, and a backup available, you should be well-protected. Oh, and for the love of god, avoid downloading any suspicious files or visiting sketchy websites. What to do if you’re infected Even if you follow all of the above steps, ransomware could still infect your computer or mobile device. If that’s the case, you have only a few options. The first and easiest choice is to delete your computer or mobile device and reinstall your operating system. You’ll lose everything, but you won’t have to pay some criminal who’s holding your files hostage. Some security software makers also sell programs that can decrypt your files. That said, by purchasing one, you’re betting that it will work on the ransomware on your computer, which isn’t always the case. On top of that, ransomware makers can update their malware to beat security software makers’ offerings. All of the experts agree that the average person should never pay the ransom — even if it means losing their files. Doing so, they say, helps perpetuate a criminal act and emboldens ransomware makers. Even if you do pay up, the ransomware could have left some other form of malware on your computer that you might not see. In other words: Tell the criminals to take a hike. Email Daniel at dhowley@yahoo-inc.com ; follow him on Twitter at @DanielHowley . || Murray Stahl Talks Investments Made Through FRMO: - By Bram de Haas
GuruMurray Stahl(Trades,Portfolio) is the CEO and chairman of FRMO Corp. (FRMO). Together with CFO Steven Bregman, they report on the investments made through FRMO on a quarterly basis. There is no transcript available yet for the most recent call, but you can listen to the archived call.
• Warning! GuruFocus has detected — Warning Sign with WMT. Click here to check it out.
• FRMO –5-Year Financial Data
• The intrinsic value of FRMO
• Peter Lynch Chart of FRMO
The call can be a little bit chaotic if you are a new shareholder, but they are absolutely worth listening too. Stahl and Bregman are full of valuable insights into the markets and readily share wisdom related to their unconventional approach to value investing.
Balance sheet
The call starts out with them commenting on the balance sheet. Equity went down by a meaningful amount and the duo got several questions from shareholders about why it went down and whether the decline would be permanent. A meaningful part of the reduction in book value is due to current assets decreasing by $–– million. A deferred tax liability was decreased and the securities sold, not yet purchased program was expanded a little bit. This is a post where they account for short positions in path dependent ETFs. The way I understand it, they had to take their gains in these positions, which triggered a tax. Afterward they initiated the positions again with a new cost basis.
The HK multistrategy fund declined in value. Over the calendar year, the fund didn’t do so bad (-–—%), but throughout the reporting period the fund went down by —5%. There were also some redemptions, although they were quick to point out March had been a very good month.
Digital Currency Group
Stahl talked a little bit about a new investment in the Digital Currency Group. DCG is a corporation devoted to crypto currencies. Stahl expects cryptocurrencies will become a legitimate asset class. DCG owns various venture investments in technologies involved with digital currencies. They own equity in Coinbase (an exchange), Ripple (utilizes blockchain for cross-border transactions) and Grayscale (a money manager of crypto currencies). Governments around the world historically had the tendency to inflate asset prices or currency. Little by little you are purchasing power, a constant threat in history. Being on a metallic standard has historically also caused inflation.�
The blockchain is a ledger and the coins can’t be counterfeited. If more transactions are done in a currency it raises its value.
If Bitcoin were to become the new gold (Stahl doesn’t necessarily agree, but raises it as a possibility suggested by others), Bitcoin would appreciate by –………x in value.
If it were to become currency for the world, you would make —…………x your money.
Even though it is a very small investment, Stahl views it as a really important strategic investment. It's possible the stake would be expanded.
Market outlook
If oil went to $45 by end of the year, CPI would go to —.‘% and the Fed would have its hand forced and would need to raise rates. This would cause problems in the market.
You have to diversify away from stocks. Over the last ‘5 years, interest rates came down and stocks were successful. FRMO is now operating on the premise that two guys picking stocks isn’t going to cut it going forward.
The firm keeps a lot of cash on the balance sheet and views it as optionality. When the next crash (Stahl doesn’t actually use the word crash) comes, the firm will profit by having lots of liquidity.
One of the reasons they like small exchanges so much is that the optionality embedded in them is huge. If big mergers go through like the one between the London Stock Exchange and Deutsche Borsche, these players raise prices and clients are angry and want to move business. Meanwhile there are few licensed exchanges and the small ones are suddenly very well positioned.
ETFs
Stahl views it as very dangerous to be invested in big dominating companies. Big liquid companies pay out a little bit of dividend and throw the rest at buybacks. These companies have defined benefit pension plans, but the stock has to rise or the company has to put extra money into these plans. This means that when the flows into large cap liquid companies is starting to slow, the effect can be dramatic. Big liquid stocks make up huge allocations in focused ETFs. What’s wrong with that? You take a lot of individual security risk by buying this ETF. At some point an event will make that apparent to lots of people invested in these type of securities.
Something else he doesn’t like is the typical dividend ETF. Earnings of the constituents of these products are ever so slightly declining. They have record margins right now, and can’t go up or down by much. These companies are currently saving a lot on the commodity side and not passing this on to the consumer.
The risks in ETF land are exacerbated because ETF providers aren’t making money and can’t make a lot of money on these products because the fees are too low. This structure of the industry leads to only a few companies being a major part of all ETFs.
An index was supposed to take out risk, and now you are taking on risk by buying into them. Everyone owns the same companies.�
Indexation is not in the early innings, it’s in the late innings. It will possibly go into extra innings.
This article first appeared onGuruFocus.
• Warning! GuruFocus has detected 2 Warning Sign with WMT. Click here to check it out.
• FRMO 15-Year Financial Data
• The intrinsic value of FRMO
• Peter Lynch Chart of FRMO || After hospital ransomware attack, time for some blunt talk about cybersecurity: Your standard medical drama is supposed to end with a “how it happened” scene, in which doctors explain what really went wrong with the patient and how they solved it. But it doesn’t look like therecent ransomware episodeatMedStar Healthwill get that traditional resolution.
We know fromwell-sourced reportsthat the mid-Atlantic hospital chain got hit with a strain of ransomware that locked up some of its files. (In such attacks, miscreants encrypt a victim’s files and demand payment — often in the form of Bitcoin — for the decryption key.) We know that containing the problemknocked many of the hospital’s computer systems offlineandforced doctors and nurses to communicate via paper and fax.
But we don’t know how the attack happened or what MedStar did to fix it. And the Columbia, Md., company doesn’t plan to tell us.
“Based on the advice of IT, cybersecurity and law enforcement experts, MedStar will not be elaborating further on additional aspects of this malware event,” reads astatement posted on its site last week.“This is not only for the protection and security of MedStar Health, its patients and associates, but is also for the benefit of other healthcare organizations and companies.”
MedStar’s case is not unique, and neither is its subsequent silence.
In February, Hollywood Presbyterian Medical Center in Los Angelessuffered its own ransomware attack. The hospitalacknowledged that it was ransomwareand even specified the sum demanded (40 bitcoin, or about $17,000). But itprovided no hint as to how it got hackedor what it has done to thwart future attacks.
Cybersecurity experts know this secure-it-and-shut-up routine well.
“The industry status quo is not to reveal the cause of breaches,” emailedKatie Moussouris, a Washington-based security consultant. “Disclosure often only happens when action must be taken externally to apply the defense” — that is, somebody outside the organization has to change a password, patch a server, or take a system offline.
“I can’t think of any company that’s been transparent about it,” said Ars Technica’s veteran security reporterSean Gallagherin a Twitter direct message.
It’s not that corporate leaders don’t realize the importance of working with their peers: They do, but still would rather not reveal the ugly details of attacks. A recent survey of 700-plus C-suite executives by IBM Security found that while 55 percent favored more industry collaboration,68 percent were reluctant to share incident informationoutside their own firms.
Meanwhile, attackers have fewer hang-ups about talking about their tactics. “The bad guys are always better at sharing than the good guys,” emailedJeremy Epstein, a security scientist with SRI International.
Other industries aren’t as opaque in documenting their mishaps. For a particularly dramatic contrast, you could look to commercial aviation.
Any serious accident spurs an investigation by the National Transportation Safety Board, and even something as relatively minor asa flight attendant breaking a passenger’s foot with a beverage cartwarrants an NTSB writeup. The idea is to publicly identify what went wrong so nobody ever does it again — and it’s made flying an incredibly safe way to travel.
Epstein noted that this culture of safety owes something to government influence: “Airlines have more regulatory requirements to disclose.” In other business sectors, that influence is less pronounced.
But, he added, airlines themselves can still clam up about cybersecurity issues that don’t directly affect flight safety. He cited a run of flight cancellations last year that wereapparently the result of fake flight plans that pilots immediately flagged, but which airlines later vaguely labeled as “unanticipated technical problems.”
Companies and organizations are supposed to be able to share confidential information, including details of unpatched vulnerabilities, in private forums such as industry-specificInformation Sharing and Analysis Centers. For instance, airlines can team up at theAviation ISAC, while medical facilities can collaborate privately atHealthcare Ready.
So is MedStar at least documenting what went wrong in that health care forum? The hospital won’t even say that. Said spokeswoman Ann Nickels in a text message: “I have nothing further to add.”
The immediate benefit of disclosure — after you’ve patched your shop and helped peers with equally sensitive systems secure their own — is education for everybody else who might not be in the same line of work but who might be running software with the same vulnerability.
“The best way to educate the public on how to not make the same mistakes is to publicly disclose the cause of a breach,” Moussouris said. But organizations don’t have much motivation to take that first step.
And until more of them do, hopelessly vague cybersecurity storylines imply that hacks just happen — they don’t — and that we must blindly trust large corporations to fix these apparently inevitable problems. That leaves us not just unaware of security flaws that might be lurking on our own computers, but generally powerless in the entire cybersecurity debate.
Moussouris, who has helped organize such collaborative vulnerability-research initiatives asthe Defense Department’s “Hack the Pentagon” project, suggested it would take either regulation — “which can be more damaging than helpful in some cases” — or pressure from customers.
But if I or somebody in my family needs urgent care, and the closest hospital is a MedStar facility, am I going to complain about their infosec? Absolutely not. So this problem isn’t going away anytime soon.
EmailRobatrob@robpegoraro.com; follow him on Twitter at@robpegoraro. || Larry Summers joins bitcoin firm as a senior advisor: Digital Currency Group is busy these days. In the last four months alone, the company acquired the biggest bitcoin news site, CoinDesk , and along with it, the biggest bitcoin conference, Consensus; it also gave money to Coin Center , the bitcoin industry's nonprofit advocacy group. On Thursday, DCG announced a laundry list of new investors and additions to its team , and among them is one very big name: Larry Summers. Summers, former Treasury secretary and former president of Harvard University, is joining DCG as a senior advisor. It is a reminder that Summers believes in the future of bitcoin, the crypto-currency that many fare still skeptical about . One year ago, speaking at the Museum of American Finance, Summers was asked about bitcoin and said, " We have seen so little innovation cumulatively directed at taking the frictional costs out of the system. The notion that there’s going to be a lot of innovation and experimentation around how those frictional costs can be taken out feels like a very important kind of idea.” Digital Currency Group is an investment firm that has poured money into 72 different companies, more than two-thirds of which operate in the bitcoin space. A small portion of DCG's portfolio are companies exploring blockchain technology without bitcoin, so DCG calls itself a digital currency firm, not solely a bitcoin firm. ( What is the blockchain? Watch our helpful primer video .) But it is associated primarily with bitcoin. DCG's portfolio boasts almost all of the hottest bitcoin startups, and those startups have accounted for more than 70% of all the venture capital put into bitcoin companies in total. The CEO of DCG is Barry Silbert, who in 2004 created SecondMarket, which allowed for the trading of private-company stock, and in 2015 sold it to Nasdaq ( NDAQ ). In DCG's release about its news, Summers says, " Barry and his team at DCG are building an important platform with great potential to help these technologies reach mass adoption.” Story continues In the past, I have called DCG the Anheuser-Busch InBev ( BUD ) of the bitcoin world, but you could just as easily compare it to Barry Diller's acquisitive InterActiveCorp ( IAC ), and indeed, Silbert says that DCG models itself after IAC and Berkshire Hathaway. ( CoinDesk was DCG's first full acquisition , but expect more to come.) T he addition of Summers, along with its new investors, supports the comparisons. In addition to bringing on Summers and respected bitcoin developer Gavin Andresen as advisors, DCG has raised a new funding round (it will not disclose the amount) from Western Union ( WU ), Prudential ( PRU ) through its investment subsidiary Gibraltar, FoxConn through its investment subsidiary HCM International, and others. But it is the involvement of Summers that may turn some heads on Wall Street. Silbert knows the value of the name. "I've gotten to know Dr. Summers over the past few years," Silbert tells Yahoo Finance, "and it has been fantastic to see his thinking about digital currency and blockchain evolve and mature." What Silbert and DCG and the rest of the bitcoin industry are hoping is that the general attitude toward bitcoin will continue to mature. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: How big banks are paying lip service to the blockchain Here’s how you can invest in the blockchain Bitcoin's biggest investor just bought its biggest news site Here's a sign that PayPal is embracing Bitcoin
[Random Sample of Social Media Buzz (last 60 days)]
#Bitcoin now is $453.00 via Chain
Tweet created May 2, 2016 at 02:59AM
Free ฿itcoin - Win … http://goo.gl/ohelJN pic.twitter.com/dTCHF6LEWi || LIVE: Profit = $2,005.05 (1.13 %). BUY B411.43 @ $431.00 (#BTCe). SELL @ $437.55 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $1,008.12 (12.53 %). BUY B19.49 @ $460.00 (#VirCurex). SELL @ $465.15 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 KOBO = 0.00001848 BTC
= 0.0100 USD
= 1.9908 NGN
= 0.1583 ZAR
= 1.0084 KES
#Kobocoin 2016-05-30 19:00 pic.twitter.com/h7VlfxOGvO || 1 MUE Price: Bittrex 0.00000052 BTC YoBit 0.00000054 BTC Bleutrade 0.00000051 BTC #MUE #MUEprice 2016-04-22 21:00 pic.twitter.com/knc65w0zes || LIVE: Profit = $512.91 (6.54 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $442.03 (#BTCe) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $1,067.54 #bitcoin #btc || $528.30 at 12:30 UTC [24h Range: $501.00 - $540.00 Volume: 7644 BTC] || LIVE: Profit = $653.72 (8.33 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $450.11 (#BTCe) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $900.86 (11.25 %). BUY B19.39 @ $420.00 (#VirCurex). SELL @ $460.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org
|
Trend: up || Prices: 581.65, 574.63, 577.47, 606.73, 672.78, 704.38, 685.56, 694.47, 766.31, 748.91
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-02-03]
BTC Price: 9293.52, BTC RSI: 64.51
Gold Price: 1577.20, Gold RSI: 66.15
Oil Price: 50.11, Oil RSI: 18.76
[Random Sample of News (last 60 days)]
This Blue-Chip Crypto Insurance Consortium Lacks One Thing – a Sizable Loss: The Takeaway: In a rare interview, London-based insurance firm Arch says a sizable but containable loss would demonstrate how well its $150 million crypto storage policy would react. Only a handful of cold storage crypto policies have been written at this time; high-net-worth individuals are the main driver for the business. Lloyd’s of London has set up a crypto subgroup within its Product Innovation Facility, which includes mega-broker Marsh. Marsh says it has a hot wallet crime cover product in the pipeline. An insurance company saying it hopes to pay a sizable claim sounds like a turkey looking forward to Christmas. But that’s exactly what James Croome, fine art and specie underwriter at Arch Insurance International, says he wants his firm to do. Just to show that it can. Related: Bitcoin Hits New 2020 High Above $8,400 After Iranian Missile Attack Arch is one of the few underwriters willing to insure cryptocurrency exchanges and custodians against the theft or loss of customer funds. London-based Arch Insurance International, which works with a number of big-name brokers offering crypto cover, has yet to pay out for any losses in this relatively new market. If someone does manage to pull off a heist of cryptographic keys kept offline in cold storage, Arch will get a chance to demonstrate it’s good for the money, said Croome, who works out of London. “I would like there to be a containable but sizable loss,” he said. “Because that would give evidence to our potential clients as to the service we can provide, the speed at which we will pay the claims and remind people who have bought coverage that it does work appropriately.” Insurers have years of experience in covering specialized assets in the traditional world, whether that’s fine art or the regulatory requirements to protect financial services firms. But they feel less secure with crypto because there is a shortage of data for firms to model policy rates. Related: Equilibrium’s Stablecoin Now Has $17.5M in Insurance That Pays Out Automatically Story continues In response to this, Croome helped create a consortium, including mega-broker Marsh and global law firm Norton Rose Fulbright, to offer cold storage cover for crypto assets. Released in September , Blue Vault, which is solely owned by Arch, provides limits of up to $150 million and covers the loss of digital assets due to internal and external theft (via direct access to the storage media as opposed to remote hacking attacks) and including employee collusion. Blue Vault also covers physical damage or destruction of private keys from fires, floods, earthquakes and other catastrophic events. Ankur Kacker, vice president and specie expert on Marsh’s Digital Asset Risk Transfer (DART) team, said: “We have placed four policies for Blue Vault as of now, all in the last seven months.” Marsh, the world’s largest insurance broker, recently announced a deal with Ledger Vault , the institution-focused arm of Ledger, the well-known hardware wallet provider for $150 million cold storage cover; Marsh is working in a similar way with crypto custodian KNOX. Pet peeves Arch chose to work with law firm Norton Rose Fulbright on the crypto policy because it wanted precise policy wording. Ambiguous language is a pet peeve of Croome’s. “My biggest annoyance with the specie market is the existence of ambiguous wordings, which is why I chose to work with a legal firm with a track record in this space,” he said. Norton Rose Fulbright has given presentations in New York, Bermuda and to the London Market to help “educate insurance markets and develop set the market and standards for cold storage of these assets,” said Nicholas Berry, a partner at the law firm. The firm also helped Lloyd’s of London with its market guidance on underwriting digital assets. Norton Rose Fulbright enlisted the help of Peter McBurney, Professor of Computer Science, King’s College London and a consultant with the law firm, to spell out technical aspects of key management and crypto storage and create appropriate policy wording. This is an instance where the London Market has led other international markets, said Berry. “Going back to 2018, there has been a mismatch between supply in terms of underwriting capacity and demand for those wanting cold storage or even hot crime-type cover. Some of the big brokers have been pushing the supply side to provide more cover in terms of higher limits, wider cover,” he said. Crypto insurance is widely seen as a prerequisite for greater institutional involvement in the market. But Croome is wary of companies offering insurance policies as a marketing ploy. “We tend not to look at insureds that are looking for a chicken-egg scenario. They feel they don’t have a current revenue stream but are hoping the existence of insurance will help speed up the point at which assets come into custody and therefore increase their revenue,” he said. As well as Marsh, Arch has been working with Aon, the number two broker by size. Other brokers known to be exploring crypto include Arthur J. Gallagher and Paragon. But Croome says that for now he is shying away from really broadening out his broker network for crypto. “I think I will keep to the ones that have shown comprehension of that which we like. They understand that and therefore they can filter out the sort of things we seek to avoid,” said Croome. Virgin territory Insurance companies like Arch bring in third party specialists to examine physical vault security and do the same to understand and communicate the risks around the storage of crypto. “I wouldn’t consider myself capable of valuing a Dutch master [painting], knowing if it was genuine or a fake.That’s not my job,” said Croome. Peter McBurney, who divides his time between academia and advising Norton Rose Fulbright’s clients on technology matters, does the equivalent of physical vault checking for the IT system that would create and store the private keys. McBurney estimates there are still reasonably few policies written in London covering crypto cold storage, and the same in New York, although this number is increasing. “It’s still very early days, it is almost virgin territory.” McBurney said ultra-high net worth individuals or hedge funds who already have relationships with custodians for storage of fine art or gold bullion are driving the market for crypto insurance. “They are going to their existing physical custodians and saying, ‘Can you also store our private keys?’ So the custodians are going to insurers and saying, ‘Can you insure us to store these private keys?’ and that’s where a lot of the business has originated. It’s customer-driven from the individuals and the hedge funds who have large crypto holdings,” he said. Lloyd’s of London, the centuries-old insurance market, has realized there are new revenue streams to be had with crypto. Its underwriters have launched the Product Innovation Facility , which spans some 24 markets and has over $100 million of capacity. The facility includes a crypto subgroup, where Marsh has a representative. A spokesman for Lloyd’s said it’s too early for any on-record comment from the crypto subcommittee at this time. Marsh also did not comment on the group’s purview. The group will likely be looking beyond cold storage to include crime bond markets; E&O (Errors and Omissions) insurance; D&O (Directors and Officers) and a general smorgasbord of potential product offerings to the digital assets world, according to sources close to the Lloyd’s market. Hot and cold The risk relating to crypto held on exchanges and in wallets connected to the internet is a very different animal from vaulted cold storage. To deal with losses from third-party hacks, most of the large crypto exchanges simply self-insure, holding large amounts of bitcoin locked up for such occasions. Having battled it out in the market for some years, people like Binance chief “CZ” Changpeng Zhao or Kraken CEO Jesse Powell see insurance for hot wallets as a fundamentally flawed concept. Arch is not looking to enter the hot wallet space any time soon. However, Croome said he can see ways the crime market could interplay with the specie world. “We will often take an excess layer, the larger chunk of capacity above the crime policy, to very high exposures but on a much tighter coverage. They will take much broader coverage with much smaller limits,” he said. Marsh’s Digital Asset Risk Transfer team has clearly been pursuing its own plans regarding a hot wallet product. Quizzed on the subject of hot wallet coverage, Kacker said: “At this point in time, I don’t want to let the cat out of the bag. But I can say it’s in the pipeline.” Related Stories Chinese Insurance Giant Ping An’s Blockchain Arm Reveals Terms for $468M IPO Ledger’s Vault Scores $150 Million in Crypto Insurance From Lloyd’s Syndicate || 62 Crazy Super Bowl 54 Prop Bets You Have To See To Believe: The NFC’s San Francisco 49ers and AFC’s Kansas City Chiefs will duke it out in Miami for the Lombardi Trophy on Feb. 2. Whether or not you are a fan of either team, there are fun ways of watching the “game outside the game," also known as prop bets.
Quick look: The best Super Bowl LIV prop bets for 2020:
• How Long Will It Take Demi Lovato To Sing The U.S. National Anthem?
• What Will Happen To The Price Of Bitcoin During The Super Bowl?
• Will Shakira Have A Wardrobe Malfunction During The Halftime Show?
• Will Pitbull Make An Appearance During The Halftime Show?
• How Many Commercials Will Run During The Super Bowl?
What Is A Prop Bet?
“Prop bets" are short for "proposition bets." Traditional prop bets may call into question events surrounding player performance. Events like the Super Bowl often take prop bets to a new level of specificity and depth.
What makes prop bets so enticing is their ability to call attention away from on the field action, and toward popular culture references off the field. For example:
Who Will The Super Bowl MVP Mention First In His Speech?
If you believe the Super Bowl MVP will mention his team's head coach first in their acceptance speech, you would be doing so at +500 odds. For those more familiar with horsetrack racing- +500 can be read as 5/1. In other words, every $1 wagered would yield $5 in winnings.
Super Bowl Squares
As if you needed another reason to tune in, have you seen Rocket Mortgage’s Super Bowl Square Sweepstakes?
The team at Rocket Mortgage is giving away $50,000every timethe score changes. Two grand prize winners will take home $500,000 during the game as well.Pick your squarebefore the game and best of luck!
Who Will Win Super Bowl 54?
Think you know who win be crowned as NFL champions Feb. 2? Get in on the action and take our survey below!
https://forms.gle/qBJsMXsDwzgE3RQN7
The following are the most unique prop bets for Super Bowl LIV.
National Anthem - How Long Will It Take Demi Lovato To Sing The U.S. National Anthem?Over 2 Minutes: -240Under 2 Minutes: +165
National Anthem - Will Demi Lovato Be Wearing A Skirt, Dress Or Gown To Sing The U.S. National Anthem?Yes: -180No: +140
National Anthem - Will Demi Lovato Forget Or Omit A Word From The National Anthem?Yes: +450No: -850
National Anthem - Will Demi Lovato’s Hair Color Be Completely BlackYes: -190No: +145
National Anthem - Will Demi Lovato’s Microphone Be On A Microphone Stand?Yes: -170No: +130
National Anthem - Will Demi Lovato’s Microphone Color Be Black?Yes: -180No: +140
National Anthem - Will Any Player Take A Knee During The National Anthem?Yes: +425No: -800
National Anthem - Will Any Scoring Drive Take Less Time Than It Takes Demi Lovato To Sing The National Anthem?Yes: -260No: +175
Distance Of Longest Penalty In Game?Over 15.5 Yards: -190Under 15.5 Yards: +145
Kansas City Chiefs - Total Defense And Special Team TouchdownsOver 1.5: +700Under 1.5: -1600
Result Of First Coaches ChallengePlay Stands: -110Play Overturned: -130
San Francisco 49ers - Total Defense And Special Team TouchdownsOver 1.5 Plays: +700Under 1.5 Plays: -1600
Total Donald Trump Tweets On Feb. 2?Over 13.5: +135Under 13.5: -175
What Will Happen First In The Game?Sack: -120Touchdown: -120
What Will Happen To The Price Of Bitcoin (BTC) During The Super Bowl?Bitcoin Price Is More At Games End: -135Bitcoin Price Is Less At Games End: -105
What Color Will The Liquid Be That Is Poured On The Game Winning Coach?Red: +130Lime/Green/Yellow: +250Clear/Water: +450Orange: +550Blue: +600Purple: +850
Which Coach Will Be Mentioned First On TV After Kickoff?Andy Reid: -140Kyle Shanahan: EVEN
Which Team Will Call For A Fair Catch First In Game?San Francisco 49ers: -120Kansas City Chiefs: -120
Who Will Be The First Team Penalized For Holding?San Francisco 49ers: -110Kansas City Chiefs: -130
Who Will Be The First Team Penalized For Pass Interference?San Francisco 49ers: -130Kansas City Chiefs: -110
Who Will The Super Bowl MVP Mention First In His Speech?Teammates: +125God: +250City: +500Coach: +500Owner: +1400Family or Family Members: +700Does not mention any of the above: +550
Will Any Kick Be Returned For A Touchdown?Yes: +425No: -800
Will Donald Trump attend the game:Yes: +300No: -500
Will Fox Broadcast Mention The Point Spread Or Total During The Broadcast?Yes: +175No: -260
Will A Fan Run Onto The Field During The Game?Yes: +650No: -1400
Will A Non-QB Throw A Touchdown?Yes: +340No: -580
Will Any Member Of Barstool Sports Get Into Super Bowl Opening Night Or Coaches Interviews Using Fake Credentials?Yes: +350No: -600
Will Any Player Be Ejected For Throwing A Punch Or Fighting?Yes: +750No: -2000
Will Any Player Propose To His Girlfriend On The Field After The Game?Yes: +550No: -1000
Will Both Teams Combined Score 76 Or More Points To Break The Super Bowl Record?Yes: +400No: -700
Will Either Kicker Hit The Upright Or Crossbar On A Missed Field Goal Or Extra Point Attempt?Yes: +350No: -600
Will Either Team Not Punt During The Game?Yes: +650No: -1400
Will The Game Be Tied Again After 0-0?Yes: -200No: +150
Will The Kansas City Chiefs Record A Safety?Yes: +800No: -2500
Will The San Francisco 49ers Record A Safety?Yes: +750No: -2000
Will The Super Bowl Winning Team Visit The White House?Yes: -260No: +175
Will There Be A Safety In First Half?Yes: +800No: -2500
Will There Be A Flea Flicker Attempt In The Game?Yes: +200No: -300
Will There Be An Onside Kick Attempt In The Game?Yes: EVENNo: -140
How Many Commercials Will Run During The Super Bowl?Over 92.5: -125Under 92.5: -115
Which Commercial Will Appear First:Audi(OTC:AUDVF) OrPorsche(OTC:POAHY)Audi: -110Porsche: -130
Which Commercial Will Appear First: Cheetos OrHeinz(NASDAQ:KHC)Cheetos: +130Heinz: -170
Which Commercial Will Appear First:Coca-Cola(NYSE:KO) OrPepsi(NASDAQ:PEP)Coca-Cola: EVENPepsi: -140
Which Commercial Will Appear First: Donald Trump Or Michael BloombergDonald Trump: -330Michael Bloomberg: +215
Which Commercial Will Appear First: Michelob Ultra (NYSE:BUD) Or Michelob Pure GoldMichelob Ultra: -125Michelob Pure Gold: -115
Which Commercial Will Appear First: Mountain Dew OrToyota(NYSE:TM)Mountain Dew: -120Toyota: -120
Which Commercial Will Appear First: New York Life Or TurboTaxNew York Life: -300TurboTax: +200
Which Commercial Will Appear First: Pop-Tarts (NYSE:K) Or DoritosPop-Tarts: +170Doritos: -250
Which Commercial Will Appear First: Pringles Or SabraPringles: -220Sabra: +155
Which Commercial Will Appear First: Squarespace Or FacebookSquarespace: -400Facebook: +250
Which Commercial Will Appear First: Turkish Airlines Or WeatherTechTurkish Airlines: +160WeatherTech: -230
Halftime Show - Will Shakira Have A Wardrobe Malfunction During The Halftime Show?Yes: +1200No: -7500
Halftime Show - How Many Wardrobe Changes For Jennifer Lopez?Over 2.5: -160Under 2.5: +120
Halftime Show - Will Any Of The Fly Girls From "In Living Color" Make An Appearance?Yes: +425No: -800
Halftime Show - Will DJ Khaled Make An Appearance During The Halftime Show?Yes: +175No: -260
Halftime Show - Will Enrique Iglesias Make An Appearance During The Halftime Show?Yes: +500No: -900
Halftime Show - Will Gloria Estefan Make An Appearance?Yes: +235No: -370
Halftime Show - Will Jennifer Lopez Do A Selena Cover?Yes: +350No: -600
Halftime Show - Will Marc Anthony Make An Appearance During The Halftime Show?Yes: +400No: -700
Halftime Show - Will Pitbull Make An Appearance During The Halftime Show?Yes: -650No: +375
Halftime Show - Will Shakira And Jennifer Lopez Twerk During Halftime Show?Yes: +190No: -290
Halftime Show - Will Will Smith Make An Appearance During The Halftime Show?Yes: +300No: -500
Props courtesy of Bovada.lv and BetOnline.ag.
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Falls Back After Briefly Breaking $9k Resistance: View Bitcoin has all but erased the days gains after pushing past the $9,000 resistance level this morning. A significant move back above $9,000 could trigger liquidations and a possible short squeeze across the market. Other cryptocurrencies continue to recoup losses from late 2019. Bitcoins bulls have failed to make a solid move above $9,000, having briefly topped the level earlier on Friday. After an indecisive Thursday, prices started their rise during the Asian trading day. Based on CoinDesks Bitcoin Price Index , the top cryptocurrency by market cap moved from just under $8,700 at 01:00 UTC to $9,009 around 10:00 UTC the third attempt to break through this morning. At press time, prices had dropped back to $8,841 a gain of 1.05 percent over 24 hours. Related: Deribit Using New Trading Tools to Capture Exploding Options Market $9,000 would be a test as it is seen as a key resistance level, both from a technical and psychological point of view, wrote Simon Peters, eToro analyst and crypto expert, in a note Friday. Such an increase would also see the price challenge the current 200-day moving average, a strong indication that bitcoin is entering into bullish territory. He added: However, there is always the risk of retracement if the community thinks bitcoin is overbought. The recent rally has not just bitcoin-only movement. Most other cryptocurrencies have also experienced strong gains in the past 24 hours. Coins in the top 10, including ether, XRP and Binance coin, are also coming close to two-month highs. There are also some outliers. Following the launch of Binance futures Thursday, ethereum classic is now trading at just below $10, the highest since October 2018. Related: Bull Breather? Bitcoin Market Turns Indecisive at Two-Month High This strong surge in alternative cryptocurrencies has had a slight effect on the broader dynamics of the asset class. Bitcoin dominance the coins share of the total cryptocurrency market has dropped from nearly 2 percent since last Friday. Bitcoin currently makes up approximately 66 percent of the total market, according to CoinMarketCap . Declining dominance suggests traders are placing proportionally less value into bitcoin, attracted to the possibility of making better returns from bets outside of the original cryptocurrency. Should the bulls be able to push bitcoin firmly back above the $9,000 threshold, the market may face a short squeeze a sharp rise in a particular assets price following a series of mass liquidations. Theres some precedent for this. In the space of a few days at the beginning of April last year, bitcoin increased by more than $1,000 after finally moving past the long-fought-over $4,200 resistance line. Story continues Data collected by crypto analytics site Skew show that the April move caused more than $500 million worth of short liquidations on BitMEX (see chart below). According to CoinGecko , BitMEXs BTC/USD derivatives volumes have increased over the past seven days. Daily volumes were approaching $3.5 billion at press time, more than a billion dollars higher than last Friday. Helped along by the hype surrounding Facebooks Libra coin, the April move triggered a bull run that ultimately took bitcoin up to $13,000 by the end of June 2019. Looking at prices today, its possible that should a short squeeze happen soon, the stars could align for a second time. Disclosure: The author holds positions in bitcoin, binance coin and ethereum, as well as other crypto assets. Related Stories JPMorgan Veterans Kadena Launches Public Blockchain, Integrates Wallet to Cosmos Network Bitcoin Eyes $9K After Biggest Single-Day Rise in a Month View comments || Vienna’s ANON Summit 2020 looks set to draw a large crowd: Following the success of last year’s event, the ANON Summit is coming back to Vienna for its second edition. The comprehensive two-day technology conference will take place on April 15-16 in the picturesque Austrian capital and is expected to draw a large crowd. Organisers are projecting that more than 2,000 attendees and 100 speakers will gather to discuss the most salient issues in the blockchain and emerging technologies space. Among the confirmed speakers so far are none other than the legendary author of Mastering Bitcoin Andreas Antonopoulos , Kraken’s Head of Banking Maximilian Marenbach, and the EU Commissioner for Innovation and Youth Mariya Gabriel. Interoperability is the key to mass adoption This year’s summit will focus on the much-debated issue of interoperability and how different technologies and organisations can work better together. Industry influencers, entrepreneurs, investors, representatives of key corporations, and government officials will educate, enlighten, debate, and strike up important discussions over two separate stages. Informative keynotes, lively panels, educational workshops, and plenty of breakout sessions will all complement the programme as ANON Summit 2020 looks to “bridge the gap” between the traditional and tech sectors. To get an idea of what attendees can expect to get out of the ANON Summit, check out the highlights from last year’s edition below: The conference’s goal this year is to unite large corporations with young start-ups – complementing experience with innovation. Besides the action on stage, there will be ample opportunities to network. ANON Summit 2020 will provide attendees with a “state-of-the-art” networking tool, as well as a dedicated networking area in which one-on-one meetings can be arranged, allowing delegates to get down to business and build long-lasting partnerships. “This year’s message is innovation through collaboration,” said Daniel Lenikus, co-organiser of the event. Story continues “We have created ANON Summit intending to become a platform to facilitate partnerships and encourage conversation.” ANON Summit 2020 will also cover AI and IoT With the theme of the conference being interoperability, it makes sense that the ANON Summit should shine a light on artificial intelligence (AI) and Internet of Things (IoT) technologies as well. Not only does this cast a wider net for potential delegates, but it showcases Austria as a country primed and open for the business of the future. “We want to show the possibilities of the three technologies. Not only each one on its own, but especially in conjunction with each other,” Lenikus commented. For those who attended the conference last year, 2020 will not disappoint. And for new guests, you can expect to find a thriving and educational event divided into two different tracks: digital currencies and assets and the interoperability of technologies in mobility, energy, banking, and finance. This year’s summit will also feature a €100,000 pitch challenge, which is sure to draw the attention of many hopeful projects. To find out more about the event, visit its official website or click on this link to purchase tickets. You can receive 10% off by signing up to the official newsletter. If you were looking for an additional excuse to visit one of Europe’s most stunning cities in the spring, ANON Summit 2020 might just be right up your street. The post Vienna’s ANON Summit 2020 looks set to draw a large crowd appeared first on Coin Rivet . || European Equities: A Light Economic Calendar Leaves Geopolitics in Focus: Economic Calendar : Monday, 9 th December 2019 German Trade Balance (Oct) Tuesday, 10 th December 2019 French Non-Farm Payrolls (QoQ) (Q3) German ZEW Current Conditions (Dec) German ZEW Economic Sentiment (Dec) Eurozone ZEW Economic Sentiment (Dec) Thursday, 12 th December 2019 German CPI (MoM) (Nov) Final French CPI (MoM) (Nov) Final French HICP (MoM) (Nov) Final Eurozone Industrial Production (MoM) (Oct) ECB Deposit Facility Rate (Dec) / ECB Interest Rate Decision (Dec) ECB Press Conference Friday, 13 th December 2019 Spanish CPI (YoY) (Nov) Final Spanish HICP (YoY) (Nov) Final The Majors It was a bullish end to the week for the European majors, with the CAC40 rallying by 1.21% to lead the way. The EuroStoxx600 wasn’t far behind, rising by 1.16%, while the DAX30 saw a more modest 0.86% on the day. Upside on the day came from impressive economic data from the U.S and hopes of a phase 1 trade agreement between the U.S and China. On Thursday, Trump spoke of the U.S and China making progress towards an agreement, which contradicted comments from earlier in the week. At the start of the week, Trump had stated a desire to delay any agreement until after the next year’s Presidential Election… The Stats It was a relatively quiet day on the Eurozone economic calendar on Friday. Key stats were limited German industrial production figures for October that once again delivered more bad news. According to Destatis , industrial production slid by 1.7% in October, following on from a 0.6% fall in September. Economists had forecast a 0.1% rise. Within industry, the production of intermediate goods increased by 1%, with the production of consumer goods rising by 0.3%. The production of capital goods slumped by 4.4%, however, dragging the headline figure deep into the red. Production in industry, excluding energy and construction, fell by 1.7%. Energy production rose by 2.3%, while production in construction fell by 2.8%. Year-on-year, production slumped by 5.3%. Story continues From the U.S , Economic data ultimately led to the upswing on the day. Nonfarm payrolls surged by 266k in November, following a 163k rise in October. Economists had forecast a 186k rise. The numbers were significant when compared with the ADP numbers from earlier in the week that reported a 67k rise in nonfarm payrolls. Wage growth also accelerated in the month, supporting a positive outlook for consumer spending going into the holiday season. The Market Movers For the DAX: It was a bullish day for the auto sector. BMW rallied by 1.15% to lead the way, with Continental up by 0.84%. Volkswagen and Daimler saw more modest gains of 0.55% and 0.19% respectively on the day. It was a mixed day for the banks, however. Deutsche Bank rose by 0.73%, while Commerzbank fell by 0.08%. From the CAC , it was a bullish day for the banks. Credit Agricole led the way, rising by 1.41%, with BNP Paribas up by 1.35%. Soc Gen saw a more modest 0.89% gain on the day. Improved sentiment towards trade and positive stats from the U.S also supported the French Auto sector. Peugeot and Renault rose by 1.27% and by 0.67% respectively. On the VIX Index The VIX saw red for a 3 rd consecutive day, sliding by 6.2% on Friday. Following a 1.89% decline on Thursday, the VIX ended the day at 13.6. With the bulls in action, as the markets reacted to the latest labor market figures from the U.S, there was no hope for the VIX, which fell back to sub-14 levels in response to the NFP numbers. Positive sentiment towards trade also pressured the VIX late in the week. The Day Ahead It’s a relatively quiet day ahead on the Eurozone economic calendar . Key stats due out of the Eurozone are limited to trade data due out of Germany. We can expect the DAX to respond to the numbers, which may well reflect more doom and gloom… Trade data from China over the weekend will also test risk appetite later in the day. Through the early part of the day, the Asian majors were on the move, responding to the U.S data from Friday. Trade data from China on the weekend, may limit any upside, however. From the U.S, the administration stated that tariffs would go ahead as scheduled on 15th December, which will also limit any upside on the day. Any further updates on trade will likely overshadow today’s stats. In the futures market, at the time of writing, the DAX30 down by 15 points, with the Dow down by 27 points. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 08/12/19 The Week Ahead – The ECB, the FED, the UK General Election and Trade in Focus U.S Mortgage Rates Hold Steady as Geopolitics and Stats Send Mixed Signals The Crypto Daily – Movers and Shakers -08/12/19 It’s Geopolitics in the Day Ahead, with Trade and the UK Elections in Focus European Equities: A Light Economic Calendar Leaves Geopolitics in Focus || Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis 14/12/19: Bitcoin Cash ABC Bitcoin Cash ABC rose by 1.88% on Friday. Reversing a 0.48% fall from Thursday, Bitcoin Cash ABC ended the day at $211.14. A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $205.68 before making a move. Steering clear of the major support levels, Bitcoin Cash ABC rallied to a late afternoon intraday high $212.61. The rally saw Bitcoin Cash ABC break through the first major resistance level at $208.12 and second major resistance level at $209.98. At the time of writing, Bitcoin Cash ABC was up by 0.02% to $211.18. Within the first hour, Bitcoin Cash ABC rose from an early morning low $210.60 to a high $211.18. Bitcoin Cash ABC left the major support and resistance levels untested early on. For the Day Ahead A move back through to Fridays high $212.61 would support a run at the first major resistance level at $213.94. Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $212 levels. Barring a broad-based crypto rally, resistance at $213 would likely pin Bitcoin Cash ABC back on the day. In the event of a rally, the second major resistance level at $216.74 could come into play. Failure to move back through Fridays high $212.61 could weigh on Bitcoin Cash ABC later in the day. A fall through to sub-$210 levels would bring the first major support level at $207.01 into play before any recovery. Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of the second major support level at $202.88. Looking at the Technical Indicators Major Support Level: $207.01 Major Resistance Level: $213.94 23.6% FIB Retracement Level: $269 38% FIB Retracement Level: $316 62% FIB Retracement Level: $393 EOS EOS rallied by 1.4% on Friday. Following on from a 0.36% gain on Thursday, EOS ended the day at $2.6313. A mixed start to the day saw EOS fall to a mid-morning intraday low $2.5803 before finding support. Steering clear of the first major support level at $2.5364, EOS rallied to a late afternoon intraday high $2.6523. Story continues EOS broke through the first major resistance level at $2.6392 before easing back to $2.61 levels. While finding late support, the first major resistance level pinned EOS back from a late breakout. At the time of writing, EOS was up by 0.04% to $2.6323. A range-bound first hour saw EOS fall to an early morning low $2.6312 before rising to a high $2.6323. EOS left the major support and resistance levels untested early on. For the day ahead EOS would need to steer clear of sub-$2.63 levels to support a run at the first major resistance level at $2.6628. Support from the broader market would be needed, however, for EOS to break out from Thursdays high $2.6523. Barring a broad-based crypto rally, resistance at $2.65 levels would likely limit any upside on the day. Failure to steer clear of sub-$2.63 levels could see EOS reverse Fridays gains. A fall through to sub-$2.6220 levels would bring the first major support level at $2.5908 into play before any recovery. Barring a crypto meltdown, however, EOS should steer well clear of sub-$2.58 support levels on the day. Looking at the Technical Indicators Major Support Level: $2.5908 Major Resistance Level: $2.6628 23.6% FIB Retracement Level: $6.62 38% FIB Retracement Level: $9.76 62% FIB Retracement Level: $14.82 Ethereum Ethereum ended the day flat on Friday. Following a 0.98% gain on Thursday, Ethereum ended the day at $144.70. A bearish start to the day saw Ethereum fall to a late morning intraday low $142.76 before finding support. Steering clear of the first major support level at $140.49, Ethereum rallied to a late afternoon intraday high $145.13. Falling short of the major resistance levels, Ethereum fell back to $143 levels before late support kicked in. At the time of writing, Ethereum was up by just 0.06% to $144.79. A relatively bullish start to the day saw Ethereum rise to a high $145.03 before falling to a low $144.58. Ethereum left the major support and resistance levels untested early on. For the day ahead Ethereum would need to move back through to $145 levels to support a run at the first major resistance level at $145.63. Support from the broader market would be needed, however, for Ethereum to break out from Thursdays high $145.13. In the event of a broad-based crypto rally, the second major resistance level at $146.57 could come into play. Failure to move back through to $145 levels could see Ethereum hit reverse. A fall back through to sub-$144.20 levels would bring the first major support level at $143.26 into play. Barring an extended sell-off, however, Ethereum should steer well clear of the second major support level at $141.83. Looking at the Technical Indicators Major Support Level: $143.26 Major Resistance Level: $145.63 23.6% FIB Retracement Level: $257 38.2% FIB Retracement Level: $367 62% FIB Retracement Level: $543 Please let us know what you think in the comments below . Thanks, Bob This article was originally posted on FX Empire More From FXEMPIRE: Gold Weekly Price Forecast Gold Markets Run Into Resistance European Equities: A Week in Review 14/12/19 Natural Gas Weekly Price Forecast Natural Gas Markets Recover For The Week Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis 14/12/19 Gold Price Forecast Could Gold Reach $1420 by Christmas Gold Price Forecast Gold Markets Rally On Friday || What’s the outlook for Litecoin in 2020?: Originally created by former Google employee and later CTO of Coinbase Charlie Lee , Litecoin (LTC) was one of the first serious altcoin projects developed with an actual purpose. While Bitcoin was seen as “digital gold” and a potential long-term store of value, Litecoin was created to be “silver” and used for everyday purposes. In essence, Litecoin possesses many of Bitcoin’s features, but is “lighter” to carry and faster to transact. Lee believes the goal and mission of Litecoin is to be a live testnet for Bitcoin. LTC has had a turbulent time in 2019, but how will Litecoin fare in 2020? Will higher volumes and fresh cash spur a new bull run after the disappointment of the halving ? Essentially, for any price appreciation to happen, we need serious volume coming into the cryptocurrency market. LTC/USD performance In the short term, the outlook for Litecoin is quite grim. Prior to mid-June, the altcoin was the best performing digital asset of 2019, growing more than 170% in fewer than 90 days and peaking at around $145. However, the uptrend sparked by the Litecoin halving did not last. The reality is that the Litecoin halving, which took place a few months back, may have been a ‘buy the rumour, sell the news’ type of event. Seasoned traders took profits weeks before it took place. A serious summer downtrend then saw LTC tumble to around $49 before a market-wide pump last month following Chinese President Xi Jinping’s bullish comments on blockchain. However, the positive sentiment seems to have faded away again and LTC is back in a downtrend. In Bitcoin terms, the outlook is even worse. LTC/BTC performance Looking at the chart above, we can immediately conclude that LTC is near its yearly low against Bitcoin. At the moment, LTC is just above its 20-day EMA, sitting around 607,800 sats. Volume-wise, price is finding some weak support close to a key level, between 600,000 and 710,000 sats. The next strong level of resistance should be felt around 900,000 sats. Story continues If LTC is able to break above the 50-day EMA and sustain some support below the 200-day EMA, we could see a sudden shift in investor preferences. However, for the time being, it looks like Litecoin is in for a period of accumulation. Litecoin in 2020 Given Litecoin’s overall panorama, both in terms of USD and BTC, one could argue the altcoin is posed for a positive run during 2020. For Litecoin to start a serious bull run, I believe fresh cash needs to come into Bitcoin initially before investors and traders move some gains into LTC. The reason why I argue BTC has to pump first is due to historical reasons. Looking at both charts, it seems LTC/BTC moves before LTC/USD. Therefore, I believe we could potentially see a mini-rally before May 2020 given the upcoming Bitcoin halving, which will reduce Bitcoin’s block reward by 50%. During 2019, LTC pumped prior to its own halving, which took price close to all-time highs in Bitcoin terms. If Bitcoin recovers to its 2019 highs, around $14,000, we could definitely see some of the gains trickling down into the top altcoins such as Litecoin. Charlie Lee has also confirmed privacy is on the horizon for Litecoin next year. Litecoin is making moves to add privacy features through the Mimblewimble protocol. According to Lee: “We’re working with the Grim++ developers to add an implementation of Mimblewimble. It adds an extension block to the Litecoin main-chain. You can transact between chains to use enhanced privacy.” The goal would be to give Litecoin users improved privacy features when transacting. If there’s an altcoin fundamentally ready for a new push, LTC seems to be the one. Will LTC moon in 2020? We’ll have to wait and see. Safe trades! The post What’s the outlook for Litecoin in 2020? appeared first on Coin Rivet . || Bitcoins Purported Creator Says Fortune May Remain Locked: (Bloomberg) -- The man who claims he invented the worlds largest cryptocurrency and was ordered by a judge to surrender about $3 billion of his Bitcoin holdings said he may not be able to do so anytime soon. In a statement to Bloomberg News, Craig Wright said that he cannot be certain that information will in fact arrive to help identify the coins he has to split in a legal dispute. The Australian scientist added that he hasnt said the private keys to those coins would become available or be actually used next month. Earlier this year, U.S. Magistrate Judge Bruce Reinhart in West Palm Beach, Florida, said Wright submitted false documents and lied in the legal dispute. He ruled that the late Dave Kleiman owned half of all Bitcoins that Wright mined through 2013, and half of all intellectual property he created. At the time, half of the Bitcoins was valued at about $4 billion, but the digital tokens price has declined since. The ultimate test may be whether Wright is actually able to deliver the Bitcoins to his former partners estate. Wright is a controversial figure, with many in the cryptocurrency community believing he didnt invent Bitcoin and doesnt have any extensive holdings. Still, some investors have been concerned that a dump of the coins, supposedly locked in a complicated trust holding about $6 billion, could affect the market. I do not intend to dump my familys BTC as some people suspect or want, as this would hurt many people in the industry, Wright said in the statement, referring to his Bitcoin fortune. Judge Reinhart found clear and convincing evidence that demonstrates the encrypted trust file doesnt exist and that Wrights testimony about it was intentionally false, Vel Freedman of Roche Freedman LLP, representing the Kleiman estate, said in an email. The plaintiffs position has always been that Wright has access to the Bitcoin now and no bonded courier needs to arrive for him to get access, he added. Story continues The lawsuit has yet to be resolved. Wright will give his next deposition on Jan. 14-15, according to his representative. (Adds dates of Wrights next deposition as Jan 14-15.) --With assistance from Peter Blumberg. To contact the reporter on this story: Olga Kharif in Portland at okharif@bloomberg.net To contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, ;Jeremy Herron at jherron8@bloomberg.net, Rita Nazareth For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P. || Big things to come for blockchain and crypto in 2020: Following my distinctly mediocre ability at predicting what would happen over the course of 2019 within the blockchain and digital asset space, I thought Id have go at doing the same for 2020 despite annoying/upsetting a fair few people when I do. But such is life. 1: The SEC Security regulators around the world continue to tighten the net on dubious projects and their fund raises. The SEC have the crypto bit between their teeth now and are wising up to where the bodies lie. We may even see some criminal convictions from the dodgy ICO period of 2017 thats if the scammers havent already legged it to a place where no extradition treaty exists. 2: Bitcoin halving Bitcoin halving passes without much change to the price until several months later. The halving is an important event, but I think that block 630,000 will be mined and not much will change over that 10-minute period. However, come Q4 2020, my belief is that we will start to see the new scarcity being felt by the market. I wouldnt be surprised if we flirted with a new ATH around Christmas time. 3: Corporates wise up Enterprise blockchain falters, and layoffs announced across the IBM, Dell, Oracle type corporates as interest for DLT solutions dries up. Enterprise (private and permissioned) blockchain has now been around for at least five years, and what has been created? We still trot out the same examples, namely Tradelens and IBM Food Trust. Corporates are wising up to this, and realise that Blockchain isnt a magical dust one can sprinkle over a problem and solve it. This will result in layoffs and backtracking from these businesses that have been part of hyping DLT. 4: Government crackdown Governments look to crack down on privacy coins. There is no way on earth that governments are going to simply lie down and accept financial opacity from coins such as Monero or Zcash. If theres a way that governments can shut them down or at least heavily curtail access to them, then 2020 is the year we will see this start to happen. Crypto isnt going away, but that doesnt mean that all will be allowed to survive unchecked by governmental control. 5: Libra bullied out Libra doesnt launch. Libra isnt a bad idea, it just got bullied because it was Facebook that took the lead and Facebook is still suffering from the Cambridge Analytica fallout. It was never really a crypto anyway. 6: Digitising currencies Governments try to implement blockchain projects, but only small-scale releases. This is pretty much a given seeing how China has pretty much already announced it. But we will see other countries giving Blockchain projects a go, especially around the area of digitising their own currencies. Story continues 7: Transparency? A crypto exchange files to IPO. Big one this
either Coinbase or Binance would be my guess. Lets see just how much financial transparency they are willing to disclose. 8: Privacy? Bitcoin community faces split over the challenges of privacy. This could be big. A lot of the original Bitcoin cypherpunk/screw the government/two-fingers-to-the-man type people want privacy and see financial privacy as the greatest expression of freedom. And then we have most others who recognise the need for smart regulation and arent concerned about government encroachment. 9: Big names Another tech titan announces their own corporate coin. Amazon, Google or Microsoft are the top contenders. Could one of these behemoths navigate government scrutiny better than Facebook? We might just find out in 2020. 10: Bitcoin adoption Bitcoin adoption grows in authoritarian regimes/developing nations. There is a far greater need for Bitcoin in countries with oppressive regimes with a taste for coercing the population through surveillance and violence. We will see clear signs that these countries populations are adopting Bitcoin far quicker in 2020 than in the US or UK. So, there you have it, ten predictions on blockchain, DLT and cryptocurrency for the year ahead. Feel free to tweet me @walshjonwalsh if you have any more that you believe should be added to this list. Jon Walsh Blockchain, Digital Assets and Adtech professional The post Big things to come for blockchain and crypto in 2020 appeared first on Coin Rivet . View comments || Bitcoin, Ethereum & Litecoin - American Wrap: 12/18/19: Bitcoin Technical Analysis: Finally some support for BTC/USD
• This chart shows the pattern break to the upside on the hourly timeframe.
• Price has also taken out the last wave high of 6,712.48.
• 7K could be a source for some resistance as traders often look at psychological numbers.
Ethereum technical analysis: ETH/USD 0 return is near
• Ethereum price is trading in the green, up 0.30% the session on Wednesday.
• ETH/USD is running closer towards a big $100 return, last seen in February.
• The price has dropped over 35% within the last seven weeks, of which it is has been falling.
Litecoin technical analysis: LTC/USD big pennant pattern retest eyed
• Litecoin price is trading in the green in the session by some 7.45%.
• LTC/USD heading for the next critical weekly support down at $20.
• The bears have firmly been in control since June, after putting an end to the 2019 recovery.
Image Sourced from Pixabay
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• Bitcoin, Ethereum & Litecoin - American Wrap: 12/12/19
• Bitcoin, Ripple & Litecoin - American Wrap: 12/11/2019
• Bitcoin, Ethereum & Ripple - American Wrap: 12/5/2019
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 9180.96, 9613.42, 9729.80, 9795.94, 9865.12, 10116.67, 9856.61, 10208.24, 10326.05, 10214.38
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-02-14]
BTC Price: 42586.92, BTC RSI: 55.58
Gold Price: 1868.00, Gold RSI: 66.23
Oil Price: 95.46, Oil RSI: 74.51
[Random Sample of News (last 60 days)]
First Mover Asia: Interest Rate Hikes in the Future? Crypto Rally Shorts Out: Good morning. Here’s what’s happening: Market moves: Bitcoin gave up early gains after Powell’s hawkish comments. Technician's take: Long-term momentum remains weak and BTC is at a critical point. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Prices Bitcoin ( BTC ): $36,826 -0.3% Ether ( ETH ): $2,470 +0.7% Top Gainers Asset Ticker Returns Sector Polygon MATIC +5.5% Smart Contract Platform Dogecoin DOGE +5.1% Currency Solana SOL +3.0% Smart Contract Platform Top Losers Asset Ticker Returns Sector Cosmos ATOM −5.8% Smart Contract Platform Internet Computer ICP −2.9% Computing Stellar XLM −1.0% Smart Contract Platform Markets S&P 500: 4,349 -0.1% DJIA: 34,168 -0.3% Nasdaq: 13,542 +.02% Gold: $1,816 -1.7% Market moves A relief rally in crypto that had bitcoin trading near $39,000 was short-lived as the largest cryptocurrency by market capitalization fell back below $37,000 after the U.S. Federal Reserve released a statement Wednesday about reducing the size of its balance sheet. At the time of publication, bitcoin was changing hands at about $36,800, down slightly over the past 24 hours, according to CoinDesk data. Ether, the second biggest cryptocurrency by market capitalization, was trading over $2,450 and was up slightly during the same time period. Data compiled by CoinDesk shows that bitcoin’s spot trading volume across major crypto exchanges rose on Wednesday compared with a day ago. Source: CoinDesk/CryptoCompare Bitcoin briefly rose to nearly $39,000 right after the U.S. central bank released its statement, as the market believed the news was already “ priced in .” Following the stock market, bitcoin gave up the earlier gains as investors and traders weighed Fed Chairman Jerome Powell's comments. Powell said that he won't rule out an interest rate hike at a future meeting and signaled that the central bank would steadily remove support for the economy in order to fight high inflation. Story continues “After hearing Fed Chair Powell talk, it became clear the risk of more rate hikes was elevated,” Edward Moya, a senior market analyst at Oanda, wrote in his daily market newsletter. “...The Fed may raise rates at every other meeting, with the balance sheet runoff starting in May or June.” But Moya added that the panic selling of cryptocurrencies may be over as a rally in alternative cryptocurrencies could be coming if bitcoin can stabilize at between $40,000 and $50,000. Technician's take Bitcoin Oversold Bounce Faces Resistance at $40K-$43K Bitcoin's daily price chart shows support/resistance with the RSI on bottom. (Damanick Dantes/CoinDesk, TradingView) Bitcoin rose from deeply oversold levels over the past two days, indicating renewed buying after a sharp sell-off. The cryptocurrency faces initial resistance at $40,000-$43,000, which could stall the current price bounce. The relative strength index ( RSI ) on the daily chart is rising from extreme oversold levels, which could keep buyers active this week. On the weekly chart, the RSI is approaching oversold territory, similar to what happened last July in what was a prelude to a strong price rally. Still, momentum signals remain weak, indicating limited upside from here. That means buyers will need to make a decisive move above $40,000 to signal a recovery phase. For now, the downtrend from November remains intact with immediate support at $37,000 and lower support at $30,000. Important events 8:30 a.m. HKT/SGT (12:30 a.m. UTC): Australia import and export price index (Q4 QoQ) 3 p.m. HKT/SGT (7 a.m. UTC): Switzerland imports and exports, trade balance (Dec. MoM) 9:30 p.m. HKT/SGT (1:30 p.m. UTC): U.S. durable goods orders (Dec.) 9:30 p.m. HKT/SGT (1:30 p.m. UTC): U.S. gross domestic product annualized (Dec.) 9:30 p.m. HKT/SGT (1:30 p.m. UTC): U.S. jobless claims, four-week average (Jan. 21) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Crypto Markets Recovering From Steep Sell-Off Ahead of Federal Reserve Meeting, Animoca Brands’ Latest Funding Round Dexterity Capital Managing Partner Michael Safai joined "First Mover" hosts for an in-depth analysis of the crypto markets as investors anticipated the Federal Open Market Committee (FOMC) meeting at 2 p.m. (ET). Animoca Brands co-founder Yat Siu shared details of the firm's latest funding round. Plus, Avivah Litan, an analyst at Gartner Research, offered insights on criminal activities using crypto versus those using fiat currency. Latest headlines How Bitcoin Contributions Funded a $1.4M Solar Installation in Zimbabwe: The long-running Sun Exchange has a pitch for environmentally conscious bitcoiners. Miners Remain Unfazed by Crypto Sell-Off, Expect More M&A: While some miners may face difficulty raising equity or staying as profitable as before, many feel confident they can navigate the current downturn. Criminals Still Find It Easier to Hide in Fiat Than Crypto: Lawbreakers can run, but not hide, in transparent cryptocurrency networks, Litan of Gartner Research argues. (From CoinDesk Privacy Week series) Diem Mulling Sale of Assets to Pay Back Investors: Report: The Meta Platforms-led group developing the cryptocurrency has been in discussions with investment bankers about selling the project's intellectual property. Solana Could Become the Visa of Digital-Asset World: Bank of America: Solana and other blockchains may snag market share from Ethereum over time, the bank said in a research note. (Jan. 12) Longer reads Tucked Inside Biden Infrastructure Bill: Unconstitutional Crypto Surveillance: Marta Belcher breaks down what you need to know about the Fourth Amendment, the Infrastructure Investment and Jobs Act and Section 6050i of the tax code. This op-ed is part of CoinDesk's Privacy Week. Today's crypto explainer: Minting Your First NFT: A Beginner’s Guide to Creating an NFT Other voices: Crazy for crypto but allergic to risk? (McKinsey) Said and heard "If the metaverse's biggest contribution ends up being a change in *shopping,* you might as well shut it down now. ( Wall Street Journal reporter Paul Vigna ) ... "Everyone has an inalienable right to associate privately, and ought to have a right to search for information anonymously. In other words, their personal information should belong to them, and they should be in complete control of it. Period." ( Digital currency pioneer David Chaum for CoinDesk ) ... There's also a lot of new money from cryptocurrency where people are just randomly making millions of dollars and they don't know what to do with it, so they're trying to buy stuff. I like coins for the aesthetics. I do not invest in cryptocurrency. I like something you hold in your hand that other people have held in the past and bought stuff with or saved. I like the history." ( Rex Goldbaum to the New York Times ) ... "Among other impacts, higher Fed interest rates usually draw capital away from speculative sectors because savers and investors are drawn to safer returns in government bonds. At the margins, this will inevitably pull value out of both tokens and crypto startups (along with tech and venture capital more generally)." ( CoinDesk columnist David Z. Morris ) || Crypto scammers steal almost $8bn from investors in 2021: As crypto assets gain popularity, crypto scams are also on the rise – over $7.7bn (£5.7bn) worth of cryptocurrency was stolen from victims worldwide in 2021, new data revealed.
Chainalysis, a blockchain data firm, said scams were the largest form of cryptocurrency-based crime by transaction volume and there has been an 81% rise in these when compared with 2020.
2020 saw scamming activity dropped significantly compared to 2019, in large part due to the absence of any large-scale Ponzi schemes.
But chat changed in 2021 with Finiko, a Ponzi scheme targeting Russian speakers throughout Eastern Europe, netting more than $1.1bn from victims. It invited users to invest with either bitcoin (BTC-USD) or tether, promising monthly returns of up to 30%.
Read more:Live crypto prices
Another change that contributed to 2021’s increase in scam revenue was the emergence of 'rug pulls'.
These are particularly common in the DeFi ecosystem and includes developers of a cryptocurrency project — typically a new token — abandon it unexpectedly, taking users’ funds with them.
The biggest rug pull of the year centered on Thodex, a large Turkish centralised exchange whose CEO disappeared soon after the exchange halted users’ ability to withdraw funds. Users lost over $2bn worth of cryptocurrency
Another recent example of this was when a crypto currency inspired by the hugely popular South Korean Netflix (NFLX) series Squid Game has turned out to be a scam, with its developers reportedly making off with around $3.4m.
Read more:Squid Game based crypto collapses in $3m scam
Rug pulls have emerged as the go-to scam of the DeFi ecosystem, accounting for 37% of all cryptocurrency scam revenue in 2021, versus just 1% in 2020, the report said.
They took in more than $2.8bn worth of cryptocurrency from victims in 2021.
“As the largest form of cryptocurrency-based crime and one uniquely targeted toward new users, scamming poses one of the biggest threats to cryptocurrency’s continued adoption,” the Chainalysis report said.
It added that some cryptocurrency businesses are taking steps to leverage blockchain data to protect their users and nip scams in the bud before potential victims make deposits.
The report also found that the number of deposits to scam addresses fell from just under 10.7 million to 4.1 million, which means there were fewer individual scam victims but the average amount taken per victim has gone up.
Scammers’ money laundering strategies haven’t changed all that much, the report said. As was the case in previous years, most cryptocurrency sent from scam addresses ended up at mainstream exchanges.
The number of financial scams active at any point in the year —meaning their addresses were receiving funds — also rose significantly in 2021, from 2,052 in 2020 to 3,300.
Crypto is an unregulated industry and governments around the world are trying to understand how to regulate it as it gains popularity.
In September, China said all transactions of crypto-currencies are illegal.
There have been reports that the Russian central bank also wants to ban investments in cryptocurrencies in the country, as it sees risks to financial stability in the rising number of crypto transactions. Some say authorities in Russia believe cryptocurrencies can be used for money laundering and to finance terrorism.
And India's parliament is considering a bill that “seeks to prohibit all private cryptocurrencies in India."
The government has in the past considered criminalising the possession, issuance, mining, trading and transference of crypto assets. The new rules could also discourage the marketing and advertising of cryptocurrencies.
The Financial Conduct Authority in the UK In January, has issued a warning that "investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money,” adding that "if consumers invest in these types of product, they should be prepared to lose all their money.” || Bitcoin (BTC) Reacts to the FED Policy Decision and Press Conference: A 3-day winning streak came to an end for Bitcoin ( BTC ) on Wednesday. While avoiding a fall back to Mondays current month low $32,937, Bitcoin slipped by 0.40% to end the day at $36,829. Bitcoin Reaction to the FED Ahead of the FOMCs announcement and FED Chair Powell press conference, Bitcoin had been up 2.74% before hitting reverse. Bitcoin market reaction to the FOMC policy decision and rate statement was evident late in the U.S session. Bitcoin rose to a day high $38,930 before hitting reverse. The reversal continued through the FOMC press conference, with Bitcoin sliding to a day low $36,276. A late move back through to $36,800 levels limited the damage on the day, with Bitcoin largely tracking the NASDAQ 100 which eked out a 0.02% gain. Earlier in the month, Bitcoin had also been sensitive to the FOMC meeting minutes . Bitcoin had slumped by 2.7% within the first hour of the statement being released. This time round, Bitcoin fell by 1.10% in response to the rate statement and by 4.50% in response to the statement and the press conference. Broader Crypto Market Has a Mixed Session From the top 10 by market cap, Cardano ( ADA ) and Ethereum ( ETH ) rose by 3.36% and by 0.18% respectively. By contrast, Solana ( SOL ) and Binance Coin ( BNB ) fell by 2.71% and by 2.65% respectively. The Bitcoin Fear & Greed Index Three consecutive days in the green and a modest fall on Wednesday have influenced the Bitcoin Fear & Greed Index. Having fallen back to 11/100 on 23 rd January, the Bitcoin Fear & Greed Index sits at 20/100 at the time of writing. The rise has seen the Index inch closer to a current month high 24/100 and more importantly 30/100 levels. The index currently sits in the red, reflecting the markets bearish sentiment. A move back through to 30/100 and into the orange would reflect a shift in sentiment and a buying opportunity, however. Back in November, the Index had risen to 84/100 on 9 th November before hitting reverse. Story continues Bitcoin Price Action At the time of writing, Bitcoin was down by 2.75% to $35,816. A move through the days $37,345 pivot would bring the first major resistance level at $38,414 and Wednesdays high $38,930 into play. Failure to move through the days pivot, however, would leave the first major support level at $35,760 in play. An extended sell-off would bring sub-$33,000 levels into play once more. The second major support level sits at $34,691. At the time of writing, the NASDAQ100 mini was down 235.75 points, a negative signal for Bitcoin and the broader crypto market. This article was originally posted on FX Empire More From FXEMPIRE: Metaverse Sexual Harassment Forces Korean Government into Action Blockbuster Preparing to Enter Crypto and NFTs Gold Reaction to $1833.90 Determines Direction into Close GBP/USD Tests Support At 1.3435 IRS: NFTs & Crypto Are the Future; for Fraud and Manipulation As Well German Consumer Confidence Fails to Shift Sentiment towards the EUR || Amazon Prime Fee Rising to $180, Not $139, for Many Members: (Bloomberg) -- When Amazon.com Inc. announced it was raising the price of its Prime program, the company said an annual subscription would climb $20 to $139. But slightly more than half of Prime members will end up forking over almost $180 a year. Most Read from Bloomberg Amazon Is Raising Base Salary Cap to $350,000 From $160,000 We’re Fine Without Facebook, German and French Ministers Say Peloton’s Famous Instructors, Who Can Make Upwards of $500,000 a Year, Escape Layoffs Byron Allen Says He’s Preparing Bid for NFL’s Denver Broncos DOJ Seizes $3.6 Billion in Bitcoin Stolen in Bitfinex Hack That’s because they pay each month, a fee that’s rising to $14.99 from $12.99. The company introduced the monthly subscription in 2016 to attract more middle- and low-income shoppers. The strategy worked, and 52% of subscribers now pay each month, according to Consumer Intelligence Research Partners. Even though they pay more, monthly subscribers are almost as loyal as annual members, with about 97% of them likely to renew compared with 99% for their counterparts, said the Chicago research firm, which conducts quarterly surveys. “Even though monthly members pay somewhat more on an annual basis, members like that they have a smaller cash outlay and the perceived flexibility,” said Josh Lowitz, CIRP’s co-founder. “Despite the option to pause and re-start monthly membership, our data suggests that only a very small percentage truly cherry-pick their Amazon Prime months.” The increase announced Thursday is the first since 2018. Amazon has invested billions of dollars to ensure packages get to customers on time amid an acute labor shortage and supply-chain bottlenecks. Prime subscribers also get access to movies, sports programming and photo storage, among other perks. The company added millions of new subscribers after previous price increases, and analysts say Amazon probably won’t lose many customers once the latest hike goes into effect. Investors welcomed the increase and sent the shares soaring after the company reported robust results, fueled in part by a strong showing from its cloud-services division. Story continues “Amazon has historically sold the increase in Prime to consumers by saying ‘we have much more and much more items,’” said Tom Forte, a senior research analyst at D.A. Davidson & Co. “They’re spending billions more on content than they were four years ago. I think there’s a strong case to make for price increases. I think there’s a compelling case that the retention rate will still be high.” Morgan Stanley analysts led by Brian Nowak wrote in a note on Friday that Amazon attracted a large number of households averaging $55,000 to $70,000 in annual income over the last two years. “The growing and aging of Amazon’s Prime sub base continues to be a key enabler of Amazon’s retail business,” the analysts wrote. Amazon shares rose almost 15% at 1:15 p.m. in New York. The price change goes into effect on Feb. 18 for new Prime subscribers; it will apply to current members who renew after March 25. The Seattle-based company signed up a combined 60 million U.S. Prime members in 2020 and 2021, according to CIRP, bringing the total number to 172 million. The firm tallies Prime members, not subscriptions. One Prime subscription can have multiple members since many households share one account. CIRP attributes the surge in sign-ups to consumers’ stampede online during the pandemic. Prime helps Amazon convert occasional shoppers into loyal customers. Prime subscribers typically spend more on Amazon than non-members. The price increase struck Evercore ISI retail analyst Greg Melich “as a bit early,” but he said it should “prove effective” given strong renewal rates and expanded benefits. (Updated with shares.) Most Read from Bloomberg Businessweek Why the World Needs China’s Covid-Zero Policy Why Airbus Is Canceling Orders From Qatar Airways, One of Its Best Customers The Nuclear Industry Argues Regulators Don’t Understand New Small Reactors 100 Million Americans Can Legally Bet on the Super Bowl. Sports Will Never Be the Same Investors Seek Profits by Helping Poor People Sue Big Companies ©2022 Bloomberg L.P. || SEC Charges Crypto Firm and Founder With ‘Fraud and Unregistered’ ICO Offering: The US Securities and Exchange Commission (SEC) on Thursday accused a crypto startup Crowd Machine and its Australian founder Craig Sproule of defrauding investors. Per the SEC lawsuit , the company had raised millions from investors, in 2018, through a “fraudulent and unregistered” initial coin offering (ICO). Furthermore, Sproule has been charged for allegedly diverting more than $5.8 million from ICO proceeds to South African gold mining entities. He had previously promised investors that the funds will be utilized in developing new technology for Crowd Machine’s subsidiary firm Metavine Inc. “As alleged, Sproule and Crowd Machine misled investors about how they were using ICO proceeds, spending funds on an entirely unrelated scheme,” said Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit. The Aussie man, who self-proclaims himself on social media as the “Man Behind the Machine,” claimed to have collectively raised the equivalent of $40.7 million through the sale of “unregistered” Crowd Machine Compute Tokens (CMCT). Notably, the actual proceeds raised from CMCT sales seemed to be lesser than what Sproule claimed to have raised. The Crowd Machine Group had actually collected the equivalent of $33.5 million, based on the market values of Bitcoin and Ethereum at the time of ICO, the complaint added. More ICO Frauds Caught Scams and fraud in ICOs are one of the greatest challenges and threats to the crypto and DLT community. Ex-SEC chair Jay Clayton had previously expressed his disbelief at the levels of fraud being committed in the ICO market. The SEC has also been vigilant over a number of fraudulent securities offerings. The watchdog, for instance, filed a similar complaint last year against Loci Inc. and its CEO John Wise for making materially false and misleading statements related to an unregistered ICO. In this Crowd Machine’s ICO case filed in the United States District Court for the Northern District of California, Sproule has been ordered to pay a $195,047 civil penalty. The court will determine any disgorgement, prejudgment interest, and civil penalties in the future. Story continues The SEC states that none of the $5.8 million has been recovered, nor the South African gold miners have returned revenue. 2021 Was A Record-Breaking Year For Crypto-Related Frauds Scammers reportedly stole $14 billion worth of cryptocurrencies in 2021, nearly twice the $7.8 billion recorded in 2020. According to a “Crypto Crime Trends 2022” report by crypto company Chainalysis, more than $2.8 billion came from scams that appear to be legitimate crypto projects, before extracting investors’ money and disappearing. ICOs are being looked upon with skepticism by investors and regulators alike. 80% of ICO’s are now considered to have been scams according to a study by Statis Group. This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Daily Forecast – Rising Treasury Yields Capping Gains After NFP Headline Miss EUR/USD Price Forecast – Euro Continues to Grind Sideways After Jobs Number Celo Loses 5% of its Value Despite the Team’s Recent AMA Session Shares of Beer Giant Constellation Plunge on Sales, Earnings Fall AUD/USD Weekly Price Forecast – Australian Dollar Has Tough Week EUR/USD Weekly Price Forecast – Euro Continues to Bang Around in Range || Celebrities push cryptocurrencies, but their fans carry all the risk: Matt Damon in a Crypto.com ad Matt Damon walks through a white hallway talking about what makes someone brave. Mt. Everest climbers are brave. The Wright Brothers were brave. Astronauts are too. These adventurers and entrepreneurs are brave because they “embrace the moment and commit.” “Fortune,” the actor says with a nod, “favors the brave.” The world’s largest condom manufacturer has had a surprisingly bad pandemic Damon is selling the services of Crypto.com, a Singapore-based cryptocurrency exchange that recently spent $700 million dollars to slap its name on the Los Angeles Lakers arena. He’s not the only celebrity hawking Bitcoin. Tom Brady is a spokesperson for the crypto exchange FTX, the TikTok star Charli D’Amelio advertises for the exchange Gemini, and Kim Kardashian pushed the lesser-known coin EthereumMax to her 276 million Instagram followers in May. These crypto ads are everywhere. Facebook recently reversed its long-standing ban on crypto ads. Both Crypto.com and FTX are running spots during the Super Bowl broadcast this year (30-second ads cost $6.5 million this year, the Wall Street Journal reports.) Damon’s television ad spot, which has run for months and cost approximately $38 million dollars , gets something right: You need to be brave to invest in crypto because it’s one of the most volatile and unregulated assets available to average investors. Americans will be forced to draw down their savings in 2022 Is crypto a smart investment? The Crypto.com ad tells viewers to be brave. And if bravery entails investing in assets with little to no transparency, crypto investments are indeed a profile in courage. Generally, US securities laws require companies to disclose critical information about stocks and other financial products including who is in charge, financial results, and forecasts of what’s ahead. Investors have legal recourse if they have been lied to or otherwise defrauded. None of these apply to crypto. At most, many crypto ventures have “white papers” outlining their purpose: Bitcoin is meant to be used in peer-to-peer financial transactions, and Ethereum was built to host decentralized software. But the coins associated with these blockchains cannot transfer fractionalized ownership in a company or else they become securities. (In 2018, the US Securities and Exchange Commission cracked down on initial coin offerings, or ICOs, after it determined they represented unregistered securities.) Story continues Still, cryptocurrencies have become extremely popular investments for speculators—and not just retail investors. The crypto market has been flooded with institutional investors in recent years including hedge funds , pension funds , and endowments . Banks and venture capitalists are digging in too. Since the start of March 2020, the price of bitcoin has nearly quadrupled to $43,118, while the price of ether rose by a factor of 10. That’s delivered returns: $1,000 invested in bitcoin in March 2020, would be worth $5,000 today. A low-risk investment like the Fidelity 500 Index Fund, which tracks with the S&P 500, has risen just $1,577 in that time. The risks of crypto “[Crypto] is orders of magnitude riskier than anything in the stock market,” said Eshwar Venugopal, a finance professor at the University of Central Florida, principally because of the lack of financial transparency and legal accountability that come with regulated securities. He likened investing in crypto to being an angel investor in an early-stage startup knowing your investment could go to zero. For crypto investors, “the risk is from lack of information, misinformation, and speculation,” he said. The riskiest crypto products have no white paper or no real business purpose, Venugopal said. Meme coins like Dogecoin and Shiba Inu coin have become the 12th and 13th most valuable crypto by market capitalization (in no small part due to tweeting by another celebrity, Tesla CEO Elon Musk ). A Musk tweet matters because the price of crypto assets are often not tied to financial performance. One recent study from Yale and the University of Rochester found that crypto prices are primarily driven by two factors: trading momentum and investor attention. Hype, in other words. The price of cryptocurrencies in the study—Bitcoin, Ether, and Ripple—were uncorrelated with movements in traditional asset classes like stocks, currencies, and commodities. How to add crypto to your portfolio Should a responsible retail investor invest in crypto? While network adoption and institutional investment may lower investment risk, retail investors should still be very cautious. Even financial planners struggle to advise clients on crypto investing and the risk, but many recommend putting no more than 5% of one’s investment portfolio in crypto. Caitlin Cook, the head of community for Onramp Invest, a software company that gives financial planners access to the crypto markets, said planners and investors need to understand how volatile the crypto market is and budget appropriately if they want to invest. “If you see crypto down 30% on a day, can you handle that?” asks Cook. “I’m personally a firm believer that you should not be putting more into this than you can afford going to zero no matter how bullish you are on the space.” Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: “Deltacron” is probably a lab mistake, not a new variant When will the omicron wave peak? || Hillicon Valley — DOJ arrests couple connected to crypto hack: Today is Tuesday . Welcome to Hillicon Valley, detailing all you need to know about tech and cyber news from Capitol Hill to Silicon Valley. Subscribe here: thehill.com/newsletter-signup . Follow The Hill's tech team, Chris Mills Rodrigo ( @millsrodrigo ) and Rebecca Klar ( @rebeccaklar_ ), for more coverage. The Department of Justice said a New York couple was arrested and charged over alleged links to a 2016 cryptocurrency hack. Meanwhile, a group of faith leaders urged Meta to permanently drop plans to create an Instagram for kids under 13, and President Biden cheered the creation of a facility to build electric vehicle chargers in Tennessee. Let's jump into the news. $3.6B seized in connection to crypto hack The Department of Justice logo is seen at their headquarters in Washington, D.C., on Thursday, August 5, 2021 prior to a press conference regarding a civil rights matter. The Department of Justice (DOJ) announced on Tuesday that a married couple was arrested and charged for their alleged links to cryptocurrency stolen from a 2016 hack of Bitfinex, a virtual currency exchange. Ilya Lichtenstein, 34, and his wife Heather Morgan, 31, were arrested in New York City and charged with conspiracy to commit money laundering and conspiracy to defraud the United States, DOJ officials said on Tuesday. The duo repeatedly misled financial institutions and virtual currency exchanges about their identities and about the origins of their Bitcoin, according to federal prosecutors, who said the money was cashed out and used to purchase gold, NFTs and other items, such as a $500 Walmart gift card. The stolen currency from the hack is currently valued at $4.5 billion, and law enforcement has seized over $3.6 billion in connection to the incident. "Today's arrests, and the Department's largest financial seizure ever, show that cryptocurrency is not a safe haven for criminals," Deputy Attorney General Lisa Monaco said in a statement. "In a futile effort to maintain digital anonymity, the defendants laundered stolen funds through a labyrinth of cryptocurrency transactions. Thanks to the meticulous work of law enforcement, the department once again showed how it can and will follow the money, no matter the form it takes," Monaco added. Story continues Read more here . Facebook faces ire over Instagram for kids Facebook is facing a new adversary in the battle against its proposal to create an Instagram for kids - religious leaders. A coalition of 75 faith leaders signed a letter to Mark Zuckerberg , CEO of Facebook and Instagram parent company Meta, on Tuesday asking him to ditch permanently plans to create an Instagram platform for kids under 13. In September, the company said it would put the plans on pause after internal documents leaked by a whistleblower escalated scrutiny on Instagram's impact on teen and youth users, but it did not go so far as to totally drop the plans - as advocates and lawmakers have pushed for. The letter acknowledges the concerns raised in the past by experts and whistleblower Frances Haugen but appeals to Facebook in a different way by highlighting how the plan for the platform undermines values spiritual leaders broadly are trying to instill in children. The letter is part of an effort led by the advocacy groups Fairplay and Children's Screen Time Action Network. Its signers write that "countless faith communities emphasize the importance of time spent without distraction," pointing to the sabbath, silence, yoga, meditation or prayer. Read more here . BIDEN LAUDS EV CHARGING PLANT President Biden on Tuesday said the creation of a facility to build chargers for electric vehicles in Tennessee is part of a comeback for American manufacturing and a sign of the post-pandemic jobs resurgence. "We're seeing the beginnings of an American manufacturing comeback," Biden said in remarks at the White House. "The world's at an inflection point, things are going to change in a big way, and this is one of those transition moments." Tritium, an Australian company, announced on Tuesday it is building a U.S. manufacturing plant that will begin production in fall 2022 and have the initial capacity to build over 10,000 fast-charging units per year. The plant will have room to expand to building 30,000 units per year and plans to employ more than 500 people over the next five years. "Today's announcement is part of a drumbeat of jobs resurgence like more than anything we've seen before," Biden said. Read more here . BITS AND PIECES An op-ed to chew on: Where the US can beat China: semiconductors Lighter click: Nathan Chen's moment Notable links from around the web : Why the balance of power in tech is shifting toward workers (MIT Tech Review / Jane Lytvynenko) How Did the Bored Ape Yacht Club Get So Popular? (Wired / Kate Knibbs) Why Have 14 Of 15 U.S. Cabinet Departments Bought Phone Unlocking Technology? Few Will Say. (The Intercept / Mara Hvistendahl and Sam Biddle) One last thing: Peloton cuts nearly 3K jobs Peloton announced it will lay off 2,800 people from their jobs as CEO John Foley steps down, as part of a corporate restructuring aimed at reversing the fitness company's tumbling stock price. Foley will be replaced as CEO by former Netflix and Spotify tech executive Barry McCarthy. In a statement on Tuesday , the company said the latest changes are a part of a corporate overhaul in part to "right-size" its operations. The at-home fitness brand also plans wind down development of the Peloton Output Park (POP), a $400 million factory being built in Ohio, as well as reducing the warehouse space it owns and operates. "Peloton is at an important juncture, and we are taking decisive steps. Our focus is on building on the already amazing Peloton Member experience, while optimizing our organization to deliver profitable growth," said Foley, a co-founder of Peleton who will now serve as its executive chair. Read more here . That's it for today, thanks for reading. Check out The Hill's technology and cybersecurity pages for the latest news and coverage. We'll see you Wednesday . || US Dollar Index Reaction to 96.025 – 95.690 Sets the Tone: The U.S. Dollar is edging higher against a basket of major currencies on Thursday, pausing this week’s slide as traders awaited central bank meetings in Britain and Europe.
Policy decisions from theBank of England (BOE)andEuropean Central Bank(ECB) are due at 12:00 GMT and 12:45 GMT respectively, and a news conference with ECB President Christine Lagarde is scheduled at 13:30 GMT.
At 11:55 GMT, March U.S. Dollar Index futures are trading 96.215, up 0.280 or +0.29%. On Wednesday, theInvesco DB US Dollar Index Bullish Fund ETF (UUP)settled at $25.71, down $0.09 or -0.35%.
Traders have fully priced in a 25 basis point hike from the BOE, so the focus will likely fall on the outlook. While the ECB is not expected to offer up policy changes, hot consumer prices and recent strong labor data has raised expectations for a shift away from describing inflation as transitory.
Dollar traders should expect heightened volatility especially if the BOE and ECB decisions are interpreted as hawkish.
The main trend is up according to the daily swing chart. A trade through 97.440 will signal a resumption of the uptrend. A move through 94.610 will change the main trend to down.
The short-term range is 94.610 to 97.440. Its retracement zone at 96.025 to 95.690 is support. This zone stopped the selling on Wednesday at 95.795.
The main retracement zone support is 95.320 to 94.820. This area is controlling the near-term direction of the market.
The minor range is 97.440 to 95.795. Its retracement zone at 96.620 to 96.810 is the primary upside target.
The direction of the March U.S. Dollar Index on Thursday is likely to be determined by trader reaction to 96.025.
A sustained move over 96.025 will indicate the presence of buyers. If this move is able to generate enough upside momentum then look for a surge into the minor retracement zone at 96.620 to 96.810.
A sustained move under 96.025 will signal the presence of sellers. This could trigger a break into 95.690.
A failure to hold 95.690 will indicate the selling pressure is getting stronger. This could trigger an acceleration into the main retracement zone at 95.320 to 94.820.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Natural Gas Markets Get Clobbered || Xinfin Network’s XDC Rallies by More Than 13% Despite Bearish Market: The cryptocurrency market has been underperforming over the past few hours, with the total market cap now below $2.2 trillion. One token that stands out is XDS, that has gained over 13% in the last 24 hours.
XDC, the native token of the Xinfin Network, has been rallying over the past few hours. The rally comes despite the broader cryptocurrency recording losses, withBitcoinnow trading around $46,000 per coin.
XinFin is anenterprise-ready hybridblockchain technology company designed to tackle challenges in the international finance and trading sector. Its native token, XDC, currently supports smart contracts, has a 2 seconds transaction time, a transaction speed of 2,000 TPS and uses XinFin Delegated Proof of Stake (XDPoS).
Xinfin intends to be a highly scalable, secure, permission, and commercial grade’ blockchain network. XDC is recovering from a slump that affected its price earlier this year. Over the past three months, XDC’s value has dropped by more than 24%.
However, the token has been performing excellently in recent weeks. Earlier this month, XDC/USDfound support at the mid-July lowsaround $0.067, and this could allow it to eye the $0.10 mark over the coming hours or days. Despite its recent rally, XDC is still down by nearly 50% from the mid-August high of $0.20.
XDC’s technical indicators show that the cryptocurrency is currently performing well and recovering from its recent losses. If the current momentum can be maintained, XDC’s value could soon soar.
The XDC/USD daily chart shows that the coin is trading above its 50-day moving average of $0.0837. The MACD line has just crossed over into the positive region, indicating a growing buying appetite for the coin. Furthermore, the14-day relative strength indexof 61 means XDC could soon enter the overbought region.
XDC could surpass the $0.10 psychological level over the coming hours if the market conditions remain unchanged. However, it would need the support of the broader market to top the second majorresistance levelat around $0.144.
Thisarticlewas originally posted on FX Empire
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• Price of Gold Fundamental Daily Forecast – Rebounding Dollar Exerting Pressure as Yields Chop Around || Now I Need Bitcoin: A Banking Breakdown in Mexico: This is a story about a dumb American traveling in Mexico (me), a con man’s attempt to hustle pesos from tourists and the limitations of traditional banking.
It begins with a broken ATM.
Recently I traveled to Mexico City. I know less Spanish than the average toddler. On my very first day in Mexico, at the ATM, I inserted my card … and the machine swallowed it. I pressed the red cancel button. Nothing. I pressed more buttons at random. Nothing. I spoke to a lady inside the bank, who couldn’t understand a word I was saying (not her fault), and after we found a translator, she explained that this ATM was out of order, and that if I understood Spanish, I would have read the warning message on the screen. (Again, this is also on me. We’re in Mexico, and it’s my fault I don’t speak the language.)
I’d have to contact my bank, Fidelity, to get a new debit card mailed to me.
I would be in Mexico for the next two weeks, and clearly I’d need more cash. So I called Fidelity to cancel my card and send me a new one.
Problem 1: Fidelity says they would happily send me a new card, but I would need to call a different company, Visa Emergency Card Services, to have a new one sent. Fidelity handles my checking, but apparently they outsource things like debit cards.
So, I call Visa.
Problem 2: Visa tells me they need to authorize that I’m actually a Fidelity customer, and this could take some time. So I wait. In the meantime I can’t get cash.
I hear nothing from Visa for two days. I still have no cash aside from the pesos that a friend lent me.
Problem 3: Finally Visa tells me that I would actually need to call “PNC Bank,” because PNC Bank – another partner of Fidelity’s – is actually the group that handles the back-end of the checking. Or something.
I had never heard of PNC Bank. I’ve been a Fidelity customer for over a decade, and I have never seen the words PNC Bank on my debit card, or on my banking statements, or on my log-in screen.
Problem 4: “Hi, thank you for calling PNC bank,” the rep said. “Can I have your account number?”
“I have no idea,” I said. “I’m a Fidelity customer, and they told me to call you.”
The PNC rep checks her computer, and then tells me that no, in fact, I’m not a customer, and that I should call Fidelity.
I call back Fidelity. The Fidelity rep tells me that, nope, I never should have called PNC Bank. They say that I had been misinformed, and that I need to call Visa.
Problem 5: Again I call Visa. They tell me they’ve been trying to reach Fidelity.
In this era of cryptography, the pin can only be delivered via parcel, meaning their tech has not innovated since the days of Benjamin Franklin
“Do you know the phone number for Fidelity?” The Visa agent asked me.
“I’m the customer! Don’t you know the number?”
“One second, sir,” said Visa, who puts me on hold to find the number. Soon he comes back. “I have Fidelity on the line,” he said, so now the three of us our conferenced in.
“Can I have your account number?” The Fidelity rep asked.
I give it to her.
“Sir … can you repeat that? I’m not seeing that in my records.”
That’s bizarre. I repeat the number.
“Are you sure you’re a member of Fidelity Kansas City?” The rep asked.
“Excuse me?”
“This is the local branch of Fidelity in Kansas City. Are you a member here?”
Apparently the Visa rep had not called the primary Fidelity number – which they should know – but instead a random branch.
Problems 6, 7, 8, 9 … 37: I’ll skip ahead and summarize the flurry of calls. This kind of clumsy miscommunication – between banking partners that work together, all under the Fidelity umbrella – happened for days. I spend hours on the phone with Visa, Fidelity and PNC Bank.
By now I’ve left Mexico City, and I’m in a small beach town, Sayulita, that for the most part does not accept credit cards. Cash is king. My American friends have all returned home, I’m traveling solo, and I have no way to get cash. I’m counting on that debit card from Fidelity. Or Visa. Or PNC bank.
In the grand scheme of things, of course, this is quite literally a first-world problem. I am a privileged American who ultimately has access to resources, and I knew my pinch was temporary. Millions of people have real and wrenching problems; I only have minor headaches.
But the headache seems lifted when I finally get Visa and Fidelity on the phone together. The Fidelity rep, James, assures the Visa rep that I am in fact a customer, and that Fidelity does in fact authorize Visa to send me a debit card. James provides his employee ID number. James is making this happen. James is the best. (Most reps I spoke to were great. The failure was not one of human competence; the failure was a creaky system held together by duct tape.)
“So do you have everything I need?” I asked the Visa rep.
They assure me I do.
Problem 38: Another day passes. I get a message that I need to call back Visa, because there’s been another snag. Visa says they need more information from Fidelity to mail me the card, because they’re not sure if it should be printed as “Jeff Wilser” or “Jeffrey Wilser” or “Jeff J. Wilser” or “Jeffrey J. Wilser.” This brought everything to a halt.
Still I can’t get cash.
More calls, more waiting on hold, more connecting Fidelity and Visa. Finally they authorize the card to be sent.
Victory!
It’s guaranteed to arrive to me in Sayulita, via DHL priority mail, on Friday. For perspective, I arrived in Mexico the prior Thursday. For a week I’ve been unable to get cash.
Friday comes … no card arrives. It was held up in customs.
But hopefully DHL would deliver it on Saturday? Nope, DHL doesn’t work weekends in Mexico.
Now I’m desperate for cash. I call Visa and ask if they can do an emergency wire transfer. They said they’d be happy to, but they need to get approval from Fidelity. Now I’m feeling PTSD.
Eventually Visa gets Fidelity on the line. I’m conferenced in.
“I approve the wire transfer,’ the Fidelity rep said.
“We’re going to need your authorization code,” said Visa.
“What code?” The Fidelity rep is confused.
“We need a code to process this,” said Visa.
“One second,” said Fidelity.
Fidelity puts me on hold and tries to hunt down this “access code” that Visa needs. I feel bad for the Fidelity rep. I feel bad for the Visa rep. It’s a Saturday afternoon, and all of us would rather be doing something else. I go back to waiting on hold, and by now the hold music is the soundtrack to my life.
The Fidelity rep is back. He can’t find the needed code. He has never heard of this code. He asks around to his Fidelity colleagues and none of them knew of any such code.
Then the Visa rep realizes that it might be a moot point – to authorize a wire transfer, they’d actually need approval from another entity … PNC Bank.
I literally laugh out loud.
“PNC Bank?” I asked. “Okay. Great. Can we get PNC Bank to approve this?”
Problem 39: PNC Bank, or at least the relevant department from PNC Bank, is closed for the weekend.
The Fidelity rep says he feels bad for me, and I believe him. We’ve now been on the phone for an hour, he has heard my sad little story, and he’s as surprised as I am that we’re routed back to this enigmatic PNC Bank.
But wait! Maybe there’s a clever solution after all. I also have a credit card from Fidelity, but once again, this credit card is operated by a third party (Elan Financial Services.) My credit card is not set up to be used at ATMs; I don’t have a pin. What if Fidelity could change this, and let me use the credit card in the ATM?
“That might work,” the Fidelity rep said. “Let me look into it.”
I wait on hold. (In two weeks in Mexico, I spent more time on hold than I did on the beach.)
The good news is that, yes, my Visa credit card can be turned into a card that works at an ATM. All they need to do is give me a pin. The bad news is that they can only do this by sending the pin through the mail.
This is not a joke. They need to mail the pin. In this era of cryptography, the pin can only be delivered via parcel, meaning their tech has not innovated since the days of Benjamin Franklin.
“So there’s nothing we can do?” I asked him. “There’s no way I can get cash?”
“I’m afraid not.”
“The system broke down,” I told him.
Again he apologizes, and he essentially agrees with me. I want to underline that every individual I spoke to was competent and courteous – this isn’t their fault. (I should add that I’ve generally been a happy Fidelity customer; their customer service is normally top-notch. And I contacted Fidelity a few weeks later to ask if they would like to comment for this story; outside of an email apology that looked a bit like a form letter, they declined.)
Now here’s where bitcoin enters the story.
Kidding. I don’t know that cryptocurrency – at least with today’s infrastructure – would have cracked my problem. Taco stands in Sayulita do not accept bitcoin or shiba. And this is not El Salvador. Perhaps I could have used something like LocalBitcoins to swap bitcoin (I own some) for pesos. Maybe that could have worked.
But I do know that when people in the U.S. say, “crypto makes no sense, because my credit card works just fine,” that’s only part of the story. Yes, it works “just fine” when everything runs smoothly. It works “just fine” if you don’t mind paying the fees, whether directly or indirectly. It works “just fine” when no other countries are involved. But when that bubble is pierced? The banks can’t even talk to themselves.
Now this is where the con man enters the story.
I’m down to my final 50 pesos. That’s the equivalent of about $2.50.
Thanks to this mini-breakdown of the banking system, I’ve turned into a pathetic peso-hustler
I have one last move to make.
I head to a gringo tourist bar, and I order a beer with my last 50 pesos. (Luckily, beers are cheap.)
It’s a Saturday afternoon. College football is playing. I spot a tipsy American woman who’s cheering for Oklahoma. So now I’m cheering for Oklahoma. I went to college at The University of Texas; Oklahoma is our sworn enemy.
“Go Oklahoma!” I yelled.
Soon the lady and I are chatting. We’re flirting. And now I feel like a con man. “So, I have a crazy question,” I said, smiling, “but I’m wondering if you can help me…”
I tell her my plight, or at least a highly condensed version, and I ask her if I can Venmo her U.S. dollars in exchange for pesos. She agrees. Soon I have a stack of 1,000 pesos, I feel flush with cash, and later I repeat the same trick with another tipsy American tourist. Thanks to this mini-breakdown of the banking system, I’ve turned into a pathetic peso-hustler.
More flirting, more hustling, more pesos. Soon I can buy all the tacos and beers I want. And two weeks after I landed in Mexico, literally the day before I fly back to the United States, once it is no longer needed … DHL delivers my new debit card.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 44575.20, 43961.86, 40538.01, 40030.98, 40122.16, 38431.38, 37075.28, 38286.03, 37296.57, 38332.61
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-10-17]
BTC Price: 8103.91, BTC RSI: 35.83
Gold Price: 1492.30, Gold RSI: 48.53
Oil Price: 53.93, Oil RSI: 47.14
[Random Sample of News (last 60 days)]
U.S. Dollar Index Futures (DX) Technical Analysis Trend Changes to Up on Trade Through 98.670: The U.S. Dollar soared against a basket of currencies on Wednesday following an upbeat comment from President Trump on U.S.-China trade relations and as investors downplayed the impact from the impeachment inquiry on President Trump following the release of the transcript of the phone call between Trump and Ukraines President. This move encouraged investors to dump safe-haven currencies like the Japanese Yen and Swiss Franc, which had risen sharply in yesterdays session. On Wednesday, December U.S. Dollar Index futures settled at 98.659, up 0.732 or +0.75%. The dollar rose after President Donald Trump said a U.S.-China trade deal could arrive sooner than expected. Trump told reporters at the United Nations in New York that a U.S.-China deal could come sooner than you think. Both countries have been engaged in trade negotiations since last year. The dollar extended its earlier gains after the memo released by the Trump administration did not appear to show an explicit quid pro quo by the president, but more details have yet to come out. Daily December U.S. Dollar Index Daily Technical Analysis The main trend is down according to the daily swing chart, but momentum is trending higher. A trade through 98.670 will change the main trend to up. A move through 97.560 will signal a resumption of the downtrend. The minor trend is up. This is controlling the upside momentum. Because of the numerous swings in the market, the support is a series of 50% levels at 98.230, 98.115 and 97.930. Daily Technical Forecast On the upside, the first target is the main top at 98.670. Taking out this level will change the main trend to up. This could trigger a surge into the uptrending Gann angle at 98.860. Crossing to the strong side of this angle will indicate the buying is getting stronger. This could trigger a further rally into the next main top at 98.900, followed by a pair of uptrending Gann angles at 98.980 and 99.040. Due to the series of potential support levels at 98.230, 98.115 and 97.930, any selling is likely to be a laborious event. Story continues This article was originally posted on FX Empire More From FXEMPIRE: News and Emotions Aside, This is Where Stocks and Metals are Headed European Equities: Economic Data and Politics in Focus Gold Price Prediction Prices Tumble as Safe Haven Bid Declines U.S. Dollar Index Futures (DX) Technical Analysis Trend Changes to Up on Trade Through 98.670 Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 26/09/19 Light at The End Of The Trade War Tunnel || Total amount of ether locked in DeFi reaches 90-day high: According to decentralized finance tracking platform DeFi Pulse , the total amount of ether (ETH) locked up in decentralized finance (DeFi) projects has now reached a 90-day high, currently sitting at 2.13 million ETH ($379 million). It is up from lows of 1.8 million ETH ($320 million) in June this year. The majority of this figure can be attributed to a small number of decentralized loan platforms: Maker , Compound , and InstaDapp. In total, these three projects alone have more than 1.8 million ether ($320 million) locked up. Typically, when coins are locked up in DeFi, this means the user has elected to have their coins made inaccessible (through the use of smart contracts ) for a specific purpose. For example, with Maker, you can put down some ether as collateral to take out a loan of DAI. You can only get the ether back if you return the DAI. But during the time of the loan—the ether will be locked up in a smart contract. This is important because it reduces the supply of ether kicking around. In theory, this pushes up demand relative to supply—something that can put upwards pressure on the price of a coin. Hence why Ethereum believers see it as a good sign that lots of ether is being locked up in these platforms. On a similar note, it also represents growing usage of the platforms, which helps to provide the Ethereum network with a strong real-world use case. Another boon. Credit platform, Maker DAO , is responsible for the almost two-thirds of all ether locked up—with a balance of 1.4 million ether ($249 million). However, Maker DAO users have been withdrawing their ether since March this year. Its current balance is down 50 percent over the last 90 days when it had 1.7 million ether ($302 million). This was spearheaded by the falling price of ether and an increase in MakerDAO's interest rates. At the same time, loan platform Compound has seen rapid inflows of ether, rising from 150,000 ether ($26 million) in March to its current holdings of 614,000 ether ($109 million). Similarly, banking portal InstaDapp has seen a rise from just 9,000 ether ($1.6 million) to 174,000 ether ($30 million) in the last 90 days. These two protocols are currently the main drivers of this latest surge in adoption. Although the amount of ether locked up in DeFi has been on the uptick since late June 2019, the same cannot be said for Wrapped Bitcoin (BTC), an Ethereum-based token backed by Bitcoin. After a dramatic surge between June and July 2019, the amount of Wrapped Bitcoin (WBTC) invested in DeFi began to drop off, falling from 1,500 WBTC to 1,413 WBTC as of today. This article has been updated to explain what it means to have ether locked up and why it's important. || Bitcoin price predictions turn positive as cryptocurrency market calms: The price of bitcoin has experienced a sustained period of volatility: Getty Images A tumultuous few weeks for bitcoin may be coming to an end after cryptocurrency markets experienced an exceptionally quiet day of trading. Over the last 24 hours, the price of bitcoin shifted by less than 1 per cent, as stabilising forces also saw ethereum and bitcoin cash move by a similarly fine margin. Bitcoin settled at around the $9,600 - well below the $10,000 milestone that one cryptocurrency analyst recently described as the "new normal bottom" - following a flash crash that saw $10 billion wiped from its overall value in the space of just 30 minutes. Despite this, many experts remained hopeful that bitcoin remains on an upward trajectory and could still go on to reach record highs before the end of the year. One investor noted on Twitter that the recent price crash did not take bitcoin off its course of setting higher monthly lows since February 2019. The price of bitcoin has trebled in price over the last seven months, though still remains a long way off its record high of close to $20,000, which it reached in December 2017. Simon Peters, an analyst at online trading platform eToro, explained that the recent dip may simply be as a result of a batch of bitcoin futures contracts that were set to expire. Chicago Mercantile Exchange Bitcoin futures contracts are set to expire tomorrow, which historically has prompted trading activity within the cash market," he told The Independent. Read more No-deal Brexit 'will see Bitcoin value hit record high' "Its possible that investors are selling off now to insulate themselves from greater losses in the coming days. Furthermore, this downward momentum has been exacerbated by low trading volumes over the last week, which has meant that a relatively small number of big trades have been able to move the needle sharply. Several prominent figures within the cryptocurrency community have stood by their previous positive predictions, with cyber security pioneer John McAfee continuing to stand by his bold bet that bitcoin will hit $500,000 in 2020 . Story continues Bitcoin under $9,500. If you are panicking, you are a fool. John McAfee (@officialmcafee) August 29, 2019 Such a claim seems modest when compared to other historic predictions. Computer scientist Hal Finney, who some believe may be the pseudonymous creator of bitcoin Satoshi Nakamoto, was perhaps the most bullish about bitcoins price potential. One week after the first ever genesis block of bitcoin was created in January 2009, Finney published his thoughts on what the value of bitcoin would be if it went on to replace the US dollar as the main global currency. Imagine that bitcoin is successful and becomes the dominant payment system in use throughout the world, he wrote. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million [bitcoin], that gives each coin a value of about $10 million. || PundiX’s Crypto Cash Registers Will Be Installed in 49 Retail Stores Across Venezuela: Venezuela’s largest department store will install blockchain-enabled cash registers in its 49 retail outlets. The megastore operator Traki announced August 22, it will integrate Singapore-based Pundi X’s point-of-sale device, XPOS, to offer a cryptocurrency payment rail for shoppers. Already available in 30 countries, Pundi aims to sell 100,000 XPOS devices by 2021. This is part of the firm’s plan to introduce cryptocurrencies for everyday use, through an ecosystem of financial products like its XPASS crypto debit cards and Xwallet. Related: Despite CEO Claims, Dash Isn’t Really the ‘Most Used’ Crypto in Venezuela “We made the XPOS with the mission of creating real-life use cases for blockchain technology, and this couldn’t be better represented than Traki shoppers paying for their daily needs with cryptocurrency,” said Pundi X CEO, Zac Cheah. Cheah continued to say that Traki has been an early adopter of blockchain technology in Venezuela. “At Traki, we aspire to offer the most convenient options for our customers, and cryptocurrency has proven to be an effective payment solution,” said Michael Gomez, Chief of Crypto Assets department of Traki. Of Pundi’s near-300,000 wallet users, approximately one-tenth are based in Venezuela. The XPOS payments system supports payments in a range of cryptocurrencies including BTC , ETH , Binance’s BNB stablecoin, as well as Pundi X’s own NPXS and NPXSXEM tokens. Related: Samsung’s Galaxy S10 Adds Wallet App from Blockchain Phone Rival Pundi X A period of hyperinflation and lack of liquidity has seen many Venezuelans adopt cryptocurrency as a store of value and payment option. Last year, President Nicolas Marduro launched the petro dollar cryptocurrency, pegged to the South American nation’s vast oil reserves, as a means to sidestep economic sanctions. Maduro recently ordered banks and state-owned companies to use the token. Bitcoin, map photo via Shutterstock Related Stories Venezuela Turned Airport Taxes Into Bitcoin to Avoid Sanctions: Report Venezuela’s Maduro Orders Top Bank to Make Petro Available to Public || Brazil wants more visibility into cryptocurrency trades: Over the past few months, there has been some movement in the Brazilian political sphere which seems to be targeting increased transparency and auditability for cryptocurrency transactions. New regulation has been approved that requires users to disclose more information about their cryptocurrency trades, and businesses are now required to register their holdings as well. Taxes have also been clarified and new measures are being discussed which could add additional taxes to any crypto-to-fiat trading. Brazil favoring the regulation of cryptocurrencies As reported by Coin Rivet last month, the Brazilian Department of Federal Revenue (RFB) has implemented new regulation that covers all kinds of crypto-related activities, such as buying and selling, donations, barters, deposits, and withdrawals. This rule applies mainly to businesses especially crypto exchanges although any individual who transacts more than R$30,000 on a monthly basis, or around $7,000 at the current rate, will also have to send this information to the RFB. The measure requires companies or individuals to provide monthly reports by the end of the month following the month when the crypto-related transactions occurred. For example, any information for the month of August should be provided by the last business day of September. Furthermore, the Central Bank of Brazil (Bacen) has officially recognised Bitcoin and cryptocurrencies as monetary assets which can be used as a means of payment. The trading of digital assets by Brazilians will now also be included in the countrys balance of trade statistics. These actions show that the Brazilian government wants cryptocurrency trading to be a taxable event, supporting the new companies that are emerging by giving them a path to do business. Is Brazil adding visibility by increasing taxes? Following the swathe of taxation news coming from Brazil, some have suggested that adding taxes to fiat-to-crypto transactions could potentially help the Bitcoin market. Story continues By requiring citizens to disclose any purchases or gains, Brazilians may opt to stay in the cryptocurrency market rather than cash out. This would result in increased liquidity as well as higher Bitcoin prices in the local currency. For example, transferring your funds from your bank account to a brokerage account would incur a 0.40% taxation rate. In theory, it would be a 0.20% tax on those who deposit in addition to a 0.20% tax on those who receive, but this rate will probably be passed on to exchange customers. For P2P purchases, the operation would be the same the seller would already add the tax to the final value of the cryptocurrency transaction, making Bitcoin more expensive to buy. By contrast, crypto-to-crypto transactions between people would not be taxable and could eventually be used to circumvent the new tax. Given the current regulatory environment favoring the use of cryptocurrencies, by giving businesses a clear way to deal with Bitcoin and with the addition of taxes, we could see crypto-to-crypto transactions taking off in Brazil. The post Brazil wants more visibility into cryptocurrency trades appeared first on Coin Rivet . || Brexit Update Boris Johnsons Wake-up Call: The Latest On Tuesday, MPs took over the control of agenda and ultimately Parliament. As a result, Wednesday became a pivotal moment in British politics and Johnsons renewed involvement in the Brexit process. Despite threats laid out to Tory Party rebels, a reported 21 Tory Party MPs voted against the government. The victory allowed MPs to introduce legislation to block a no-deal Brexit should the British PM fail to have an agreed plan in place with the EU. For the newly-appointed British Prime Minister, things went from bad to worse on the day. The government also failed to garner the necessary number of votes to force a general election on 15 th October. As per the rules under the Fixed Term Parliaments Act, Johnson needed two-thirds of MPs to support his motion. Of the 434 votes needed, the government received just 298 votes. The result was in stark contrast to the Bill to prevent Britain from leaving the EU without a deal, which was on its way to the House of Lords. For the Pro-Remainers, getting the Bill through the House of Lords ahead of next weeks suspension of Parliament is critical. Unsurprisingly, the Brexiteers included a slew of amendments in an attempt to slow down the Bills passage. The Court of Session Following hearings on Tuesday, the Court of Session ruled against the Pro-Remainers on Wednesday. As a result of the ruling, an appeal is scheduled to be heard later today in a further bid to prevent Johnson from suspending Parliament. Should the appeal fail to prevent a shutdown of Parliament next week, it is in the hands of the House of Lords to pass through the latest Bill in time
Vote of no-Confidence Boris Johnsons attempts at delivering a snap general election just 2-weeks ahead of Brexit failed on Wednesday. The Opposition Party had been clear on the need for the Bill to prevent a no-deal Brexit to pass before being willing to support a motion for a general election. With Johnson falling well short of the required vote, the only hope for Johnson is for the House of Lords to send back the bill with amendments and for suspension of Parliament to kick in before the Bill is approved. Story continues Should the Bill be approved in time, the chances of a no-deal departure are removed. It will then be interesting to see whether the British PM calls for a snap general election or if there is a vote of no confidence
The Pound While the Pound found strong support on Wednesday, rallying by 1.42%, it has some way to go before its out of the danger zone. While abated, risks of a no-deal Brexit continue to linger. An appeals decision in favor of the Pro-Remainers would certainly give the Pound another much-needed boost. Blocking a suspension of Parliament would give the House of Lords and Parliament sufficient time to pass through the Bill. Removing the ability to crash out of the EU without a deal extends Brexit until next year. The Bill does leave the British government in a position, however, where they may not be able to deliver. With the EU unwilling to renegotiate and Parliament divided, a new deal could prove hard to come by. That could leave Britain in a permanent state of flux. What would happen should EU member states decline a request for an extension? That would be the end of any attempts at preventing a no-deal Brexit. While it seems far-fetched for the EU to refuse an extension, it only takes one member state
At the time of writing, the Pound was flat at $1.22516. This article was originally posted on FX Empire More From FXEMPIRE: US Stock Market Overview Stocks Join Global Rally; The VIX Drops 12% Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 05/09/19 Ethereum & Moneros XMR Daily Tech Analysis 05/09/19 E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis Strengthens Over 26245, Weakens Under 26215 E-mini S&P 500 Index (ES) Futures Technical Analysis Key Level into Close is 2932.50 Silver Price Forecast Silver markets going parabolic || How Cheapskates Can Access Mid Caps: For investors that don't like stocks but do enjoy saving money on fund fees, exchange traded funds are highly desirable destinations. And for those looking to dancewith mid-cap stocks, a desirable asset class, there are plenty of compelling ETFs for cost-conscious investors to consider.
What Happened
TheSchwab U.S. Mid-Cap ETF(NYSE:SCHM) is very much in the cheap mid-cap ETF conversation. SCHM, which debuted more than eight years ago, charges a mere 0.04% per year, or $4 on a $10,000 investment. That easily makes it one of the cheapest mid-cap ETFs on the market and Schwab clients can realize added cost benefits by trading the fund commission-free on Schwab ETF OneSource.
SCHM tracks the Dow Jones U.S. Mid-Cap Total Stock Market Indexand holds 505 stocks, giving the fund a deeper roster than rivals tracking the S&P MidCap 400 Index.
SCHM's s “cost advantage has translated into strong category-relative performance over the long term,”said Morningstar in a recent note.“From its inception in January 2011 through July 2019, the fund has outperformed the category average by 270 basis points annualized while exhibiting slightly greater risk. On a risk-adjusted basis, the fund outperformed the mid-blend category average. Overall, this fund should continue to enjoy a durable long-term edge over many of its competitors thanks to its low expense ratio and lower-than-average cash drag.”
Why It's Important
As is widely noted, investors typically gloss over mid-cap stocks in favor of larger or smaller names, but they do so at their own peril because, over long holding periods, mid caps usually outperform larger stocks and offer significantly less volatility than small caps.
“Mid-cap stocks tend to have higher long-term growth potential than large-cap stocks. This is evidenced by the Dow Jones U.S. Total Stock Market Mid Cap Index's higher earnings growth compared with the Dow Jones U.S. Total Stock Market Large Cap Index over the trailing five years through July 2019,” according to Morningstar. “Furthermore, mid-cap stocks exhibit less volatility than small-cap stocks. Over the trailing five years through July 2019, the Dow Jones U.S. Total Stock Market Mid Cap Index's annualized standard deviation of returns was 13.6% versus 15.7% for the Dow Jones U.S. Total Stock Market Small Cap Index.”
Despite those compelling traits, investors and asset allocators are usually woefully under-exposed to mid caps.
What's Next
SCHM has credibility as a late cycle play with nearly 53% of its combined weight allocated to technology, industrial and consumer discretionary stocks.
Morningstar has a “Gold” rating on the fund, the highest rating the research firm assigns to ETFs.
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A Dependable Dividend ETF
Disappointment For A Bitcoin ETF Plan
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Roger Ver planning Bitcoin Cash derivatives platform to overtake XRP and ETH: Roger Ver is stepping up his efforts to promote the adoption of Bitcoin Cash. After quitting as CEO of Bitcoin.com to be part of its executive board, “Bitcoin Jesus” has abandoned the "Bitcoin kills babies" rhetoric to focus on what really matters: Money.
Yesterday, David Shin, head of the Bitcoin.com crypto exchange, talked toBloombergabout the Ver-backed firm's intentions to create a BCH derivatives platform, establishing partnerships with CFTC-regulated exchanges.
Bitcoin.com, though, isn’t exactly reinventing the wheel here. The plan, it appears, is to do essentially what BitMEX does for Bitcoin. “BitMEX offers several of its trading products in the form of a Futures Contract with cash settlement,” the exchange explains in itsfutures guide. (Ver did not immediately respond toDecrypt’s request for comment on the new product.)
Nevertheless, Shin is sure that BCH derivatives will make the token appealing to institutional investors: "We'll try to list a BCH future on one of these exchanges that's CFTC regulated to, therefore, have a product that can be traded into the U.S. with institutional traders," he told Bloomberg. "In theory, we should see more penetration, more users, more trading, and more volume."
The scheme appears to follow the "if it worked for BTC, it can work for BCH" playbook that Ver has laid out as of late.Just this past May, Ver launched the controversial “Local Bitcoin” exchange, a peer-to-peer Bitcoin Cash trading platformcuriously similar—even in the name—to LocalBitcoins, a peer-to-peerBitcointrading platform.
"It's good marketing," Ver toldDecryptat the time. "It explains clearly what we are doing." And it seems like the strategy worked.
A few months later, helaunched the Bitcoin.com exchange, with BCH as the first option, of course. To promote the platform and take a piece of the market share from other more popular exchanges, Ver is actuallypayingthose currently using the platform with a system of negative fees.
If this BCH-focused BitMEX clone becomes a reality, practically every strategy that worked for Bitcoin (BTC) would now have a BCH equivalent. The Bitcoin.com team appears confident that this will boost not only adoption of Bitcoin Cash, but more to the point, its place on the market-cap leaderboard:
"Within a year I want to make that the second- or third-largest market cap," Shin said. "To get from No. 4 to No. 3 or No. 2, we have to see more volume."
Quite an ambitious goal, especially considering that BCH would have to double its market cap to overtake XRP and practically quadruple it to overtake Ethereum.
And this ain't 2017 anymore. || SoFi goes live with crypto trading service for its over 800K users: Investment app provider SoFi has gone live with cryptocurrency trading service for its over 800,000 users, according to a press release shared with The Block on Wednesday.
SoFi users can initially buy and sell three cryptocurrencies - bitcoin (BTC), ether (ETH) and litecoin (LTC).The Block first reportedthe story last week, saying that the firm is beta testing the service in partnership with Coinbase.
In today's announcement, SoFi said that the service is a result of growing demand from its users. “Feedback from our members has made it clear that a significant percentage are not only interested in learning more about cryptocurrencies but are also already buying and selling crypto,” said SoFi CEO Anthony Noto.
The service is being offered via aseparate entitycalled SoFi Digital Assets, LLC. The minimum order size per transaction is $10, and the maximum order per day, per individual, is $50,000. Interestingly, the service is currently not available for New York residents.
SoFi said it will charge a markup of up to 1.25% on crypto transactions. “The markup is added to the market price from the exchange, and SoFi submits a market order trade." SoFi will add more cryptocurrencies “in the coming months.” It currently also offers trading in stocks and exchange-traded funds (ETFs). || Santander brings blockchain payments to Madrid's buses: Soon travelers in Madrid will be able to pay for their public transport using a single unified digital payment system, powered by blockchain.
In partnership with Banco Santander, blockchain certification companyVottunis developing an all-in-one system that will unify all of the city’s public transport under one app, driven by blockchain. The app will enable users to register once in order to use all of the city’s public mobility services, including buses, taxis and electric vehicle charging. As well as offering a single onboarding and payment system, the app also promises to improve data security for users.
Vottun is one of 300 start-ups that applied toMadrid in Motion, a new initiative by the Municipal Transport Company of Madrid (EMT) that aims to streamline the city's cumbersome public transport system. At present, up to 30 different businesses that offer their services to the EMT, including bus companies, taxis, bicycle hires, motorcycles and car rentals as well as the metro. Each service has its own app, which travelers must register for separately, providing ID and payment information.
“The onboarding and validation process of user information with be the same for all the mobility services offered in Madrid through the EMT app,” said Rohan Hall, CEO of Vottun. “This will make it easier for citizens to use public transportation, and to pay in an easier and more transparent way.”
Madrid appears to be the perfect locale for a venture of this kind. According tostatisticsfrom Moovitapp, the average commute time within the city is 62 minutes, with over 63 percent of those commuters spending more than two hours a day onboard public transportation. Moreover, in a single trip, 68 percent of Madridians make at least one transfer, with 23 percent transferring twice.
Interestingly, Madrid isn't the first to digitize its transportation system using blockchain. Earlier this year apartnershipbetween blockchain-based financial services provider Bitex and transit payment card platform Alto Viaje enabled Argentinians to pay for travel on trains, buses and subways throughout the country using Bitcoin.
[Random Sample of Social Media Buzz (last 60 days)]
Yes! But Satoshi Nakamoto, I am sorry to say the aftermath beneficiaries of your invention hav perforated a lot of unthinkable dents of forks on Bitcoin. But don't worry, @goldcoin com'ty is on the verge of making you proud through RBH, thus putting reality to ur original vision https://t.co/JXlI5FWhbZ || @Vita_Token #VITA #VITATOKEN #ICO #bitcoin #btc and #cryptocurrency. || jump off this cliff or bitcoin goes to zero
https://t.co/kkaUty7fAZ || #USDT #IMO #Airdrop is Coming!
New revolution/Clear tasks/Huge bonus
👑Pool: $100,000
Come & earn: https://t.co/BoPQG9GTZB
IMO (Intial Model Offering)--World's First Model-based Cryptocurrency Exchange
#Airdrops #Bounty #BTC #ETH #Crypto #Exchange || @JGL14770941 @realvision Of beating Bitcoin? It has a 9 year record of trailing behind Bitcoin. || Energy Companies Are Missing Out on Bitcoin Mining https://t.co/EqLYZxosRE || ⚽️ Amigáveis. Seleções Nacionais : #Brasil 0 [1.392] vs [4.64] #Peru 0 [7.9] #1xbit #bitcoin https://t.co/kUsOVpnD1t https://t.co/UrpuxZTncq || $SC is now worth $0.00180 (-0.15%) and 0.00000019 BTC (0.00%) #SC
➡️ https://t.co/bx0KmAC84b || On #bitmex for #bitcoin best https://t.co/9lEtQ5uocm #bot is bot101078020 with return of 63.41% https://t.co/EFtnphifom #algorithmic #trading #cryptocurrency #strategy #automated || @bitcoinist Nobody know why bitcoin is goind down. Everythin as usual. I think thats due to bakkt
|
Trend: up || Prices: 7973.21, 7988.56, 8222.08, 8243.72, 8078.20, 7514.67, 7493.49, 8660.70, 9244.97, 9551.71
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-04-07]
BTC Price: 43503.85, BTC RSI: 48.11
Gold Price: 1933.80, Gold RSI: 51.30
Oil Price: 96.03, Oil RSI: 42.73
[Random Sample of News (last 60 days)]
United Airlines Raises Q1 Guidance: United Airlines Holdings Inc. (UAL) is trading higher by more than 6% in Tuesday’s pre-market after increasing Q1 2022 revenue guidance. The carrier now expects revenue to decline 20% to 25% compared to Q1 2019, yielding $7.67 to $7.91 billion compared to prior $7.53 billion guidance. In addition, Q1 capacity is expected to drop 19% compared to 2019. The company forecast an average Q1 fuel price of $2.99 per gallon, contained by hedging contracts ahead of the most recent crude oil spike. Business Travel Rebound? United insists that business travel is rebounding faster than expected but carriers said the same thing in early 2021, ahead of two COVID variants that forced corporations to delay travel plans. The optimism seems unfounded at this point, given international tensions that will impact the European continent throughout 2022, as well as soaring ticket prices that force air travelers to reconsider plans. In fact, basic economy has already jumped to $600 or more for U.S. transcontinental travel in June and is likely to head higher. The company also noted that system booking of leisure travelers had surged almost 40 basis points since the first week of the year but it’s an odd comparison, given the Omicron variant was decimating flight staffs and schedules at that time, with over 3,000 infected employees. It’s also instructive that United didn’t discuss earnings-per-share (EPS) during the presentation because CEO Scott Kirby predicted in January that profitability would return in the second quarter. Wall Street and Technical Outlook Wall Street consensus stands at a ‘Hold’ rating based upon 9 ‘Buy’, 3 ‘Overweight’, 7 ‘Hold’, and 1 ‘Underweight’ recommendation. In addition, four analysts recommend that shareholders close positions. Price targets currently range from a low of $32 to a Street-high $78 while the stock is set to open Tuesday’s session about $5 above the low target. There’s plenty of potential upside with this dismal placement but airlines need a safer world to attract customer growth. Story continues United Airlines posted an all-time high at 97.85 in 2018 and turned lower, breaking 6-year support in the upper 30s during 2020’s pandemic decline. The subsequent recovery wave stalled at the 50% selloff retracement and 200-week moving average in March 2021, ahead of a shallow downtrend that accelerated when Russia invaded the Ukraine. The decline has now reached 2020 support near 30 but bounces are likely to meet aggressive selling pressure above 40. Catch up on the latest price action with our new ETF performance breakdown . Disclosure: the author held no positions in aforementioned securities at the time of publication. This article was originally posted on FX Empire More From FXEMPIRE: S&P 500 Trying to Recover Ahead of Federal Reserve Meeting Bitcoin and ETH Remain Range Bound, SOL Reaches Key Juncture United Airlines Raises Q1 Guidance US Dollar Pulls Back From Major Resistance Barrier May WTI Buyers Could Show Up on Test of $94.14-$86.52 Natural Gas Markets Pull Back to Reach 50 Day EMA || EUR/USD Moves Higher At The End Of March: Key Insights U.S. dollar remains under material pressure against euro. Today, traders will likely focus on the Personal Income and Personal Spending reports from the U.S. A successful test of the resistance at 1.1170 will push EUR/USD towards the next resistance at 1.1190. Euro Gains Ground Against U.S. Dollar EUR/USD is currently trying to settle above the resistance at 1.1170, while the U.S. dollar is losing ground against a broad basket of currencies. The U.S. Dollar Index has recently managed to get below the support level at 97.75 and is trying to gain additional downside momentum. In case this attempt is successful, the U.S. Dollar Index will move towards the 50 EMA at 97.45, which will be bullish for EUR/USD. Today, foreign exchange market traders will have a chance to take a look at the Euro Area Unemployment Rate report for February. Analysts expect that Euro Area Unemployment Rate declined from 6.8% in January to 6.7% in February. In the U.S., traders will focus on the Personal Income and Personal Spending reports. Personal Income is expected to increase by 0.5% month-over-month in February, while Personal Spending is also projected to grow by 0.5%. Initial Jobless Claims report is expected to show that 197,000 Americans filed for unemployment benefits in a week. Technical Analysis EUR/USD is testing the resistance level at 1.1170. In case this test is successful, EUR/USD will move towards the next resistance level, which is located at 1.1190. A move above the resistance at 1.1190 will open the way to the test of the resistance at 1.1230. If EUR/USD manages to settle above this level, it will head towards the next resistance at 1.1270. On the support side, the previous resistance at 1.1150 will serve as the first support level for EUR/USD. In case EUR/USD declines below this level, it will head towards the next support at the 50 EMA at 1.1130. A successful test of the support at the 50 EMA will push EUR/USD towards the support at 1.1110. Story continues For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Action Suggests Nervous Trade Silver Prices Edged Lower As Dollar and Yields Face Downward Pressure SEC’s Examination Division Include Crypto in Its Priority Focus Area Gold Tries To Gain More Ground As Treasury Yields Keep Moving Lower MicroStrategy’s Michael Saylor Says “Bank Loan > Bitcoin Bonds” for Now June Comex Gold Rangebound While Traders Track Headlines || Twitter Adds Ethereum Wallet Support to Tipping Feature: Ethereum wallet addresses are now in the mix for Twitter-native tipping, the company said Wednesday.
The social media giant added bitcoin tipsin September. Users can now add their Ethereum wallets to the product as well. (Note: It's only available on mobile.)
The move follows Twitter's continued exploration of the Ethereum ecosystem. The company debuted non-fungible token (NFT) verification for paid "Twitter Blue" subscriberslast month. However, Ethereum wallet support is available to all users who agree to the company'stipping policy, a Twitter spokesperson told CoinDesk.
Read more:Twitter to Add Bitcoin Lightning Tips, NFT Authentication
The spokesperson said the new feature doesn't support Ethereum Name Service (ENS) domain names.
Tipping with ETH and ERC-20 tokens (including Ethereum-based stablecoins) will be supported, the company confirmed.
"We're continuing to expand ways to get paid on Twitter which includes more choices for creators and fans who want to use crypto," Johnny Winston, lead product manager of creator monetization at Twitter, told CoinDesk in a statement. "We're excited to add the ability for anyone to add their ETH address to Tips."
Twitter also said it made its tips feature available in Nigeria, Ghana and India.
UPDATE (Feb. 16, 19:39 UTC):Adds information about the tipping feature's new geographies.
UPDATE (Feb. 16, 20:12 UTC):Adds quote from Twitter product manager.
UPDATE (Feb. 16, 21:34 UTC):Adds information on ERC-20 support. || Biden signs cryptocurrency executive order, hoping to advance a digital dollar and other innovations: WASHINGTON — President Joe Bidensigned an executive orderon Wednesday mobilizing the federal government to create a strategy for digital assets like cryptocurrencies that promotes innovation in the industry while minimizing risks to Americans and the global financial system.
Most notably, the order directs the Federal Reserve to research and potentially develop its own digital dollar, which would be similar to cryptocurrencies that have become a financial asset for some Americans in recent years.
The order directs the Treasury Department to develop guidelines for Americans trading and using cryptocurrency that aims to help them avoid fraud or market volatility. Treasury will also do further research on the potential role of digital assets and blockchain in future payment systems.
REGULATING CRYPTOCURRENCY:Biden administration looks to regulate cryptocurrency with new executive order. What does it mean?
CRYPTO GLOSSARY:What is Bitcoin? Cryptocurrency? A glossary to help you make sense of Biden's executive order
"Fundamentally, an American approach to digital assets is one that encourages innovation but mitigates the risks to consumers, investors, and businesses, broader financial stability, and the environment," said Brian Deese, director of the National Economic Council, and Jake Sullivan, Biden's national security advisor, in a Wednesday statement.
Meanwhile, the Commerce Department will work to ensure that American finance and the dollar are still central to global business and trade. Other agencies will examine cryptocurrency's role as a speculative asset and its role in illicit finance.
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This article originally appeared on USA TODAY:Biden signs crypto executive order, hinting regulation, digital dollar || Metaverse and NFTs: from Gucci to Starbucks, luxury and consumer brands rush into the virtual world for their pots of gold: Last summer, Ralph Lauren launched its inaugural collection of digital apparels on Zepeto, where customers can select from 50 items to dress their avatars in the brand's signature prep-school look. There were colourblock hoodies, Polo T-shirts, teddy bear sweatshirts and even two unique skateboards that exist only in the digital realm. Within weeks, more than 100,000 pieces sold for between US$0.57 and US$2.86 each to customers who were eager to embrace and explore the frontiers of virtual fashion. Welcome to the metaverse , a virtual world that's hailed as the next generation of the web , where virtual reality, augmented reality intermesh with the physical world in a seamless experience for users. Previously the playground of computer gamers, the metaverse is seeing an influx of consumer brands such as Ralph Lauren, Starbucks and McDonald's, who are looking for opportunities in a market where annual revenue could soar to US$1 trillion, according to JPMorgan's estimates. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. The metaverse "is really going to turn the fashion [industry] into a new, stronger [iteration] with interesting opportunities," said Stefano Rosso, a board member of OTB Group, which owns the apparels brands Diesel and Maison Margiela. "Brands need to be ready for this. It's important that we start experimenting now." Digital fashion featuring Ralph Lauren's distinctive prep-school look from the Ralph Lauren X Zepeto collection. Photo: Ralph Lauren alt=Digital fashion featuring Ralph Lauren's distinctive prep-school look from the Ralph Lauren X Zepeto collection. Photo: Ralph Lauren> Rosso is chief executive of Brave Virtual eXperience, a subsidiary of OTB Group created in November to lead the company's charge into the metaverse. The company is rolling out around 40 projects by the end of 2022, with the first one ready around March. "It's more than [attracting] new consumers," Rosso said. "We're trying to increase the number of users, and [find] a new means of speaking to them. For us, it is a new way of communicating to our consumers." Gucci's Dionysus Bag with Bee, which usually sells for US$3,4000. A non-fungible token of this bag sold last June on the Roblox platform. Photo: Gucci. alt=Gucci's Dionysus Bag with Bee, which usually sells for US$3,4000. A non-fungible token of this bag sold last June on the Roblox platform. Photo: Gucci.> Story continues Bigger competitors with deeper pockets are already actively staking territories in the metaverse, and striking gold with their forays. Gucci sold a four-minute film last June as a non-fungible token (NFT) for US$25,000. A month before that, Gucci's Dionysus Bag with Bee digital token found a buyer willing to pay 350,000 Robux - a digital currency that's usable only on the Roblox platform - or the equivalent of US$4,115, more than the US$3,400 that the bag costs in real life, or IRL in metaverse lingo. Gucci was hardly alone in minting money in the metaverse. Balenciaga, the sibling brand of Gucci under the Kering Group, launched a collaboration with the popular game Fortnite, where several of the game's characters are dressed in Balenciaga's armour boots, hoodies and swooping sunglasses. Prada, Adidas, Balmain and Dolce & Gabbana also sold NFTs. Sportswear giant Nike took its forays into the metaverse a step further by paying an undisclosed amount to buy the NFT studio and virtual sneaker designer RTFKT. Nike also created its digital environment on the Roblox where it can test product launches with consumers before a physical release. Other consumer companies ranging from Wal-Mart, Gap, Hulu, telecommunications giants such as Verizon, China Mobile, China Telecom, the electric-car maker Xpeng , the liquor distiller Kweichow Moutai and even the milk tea brand Nayuki joined the race, most of them issuing NFTs correlated with their products. China's regulatory authorities, in the midst of an antitrust and cybersecurity clampdown on technology companies, are adopting a more conservative and nuanced attitude towards the metaverse and NFTs. Companies are urged to exercise restraint in embracing the metaverse. NFTs are renamed "digital collectibles," and their issuance and circulation are carefully watched, as regulators come down hard on speculators and NFT-related scams. Still, that hasn't stopped China's largest athletic wear company Anta Sports Products from jumping on the bandwagon. Anta, which has reaped a marketing bonanza w ith its sponsorship of the Olympics double- gold medallist Eileen Gu , launched 7,000 digital collectibles in January. Consumers are invited to win scores through gamified activities on Anta's new digital interaction space on the e-commerce platform Tmall operated by this newspaper's owner Alibaba Group Holding . SCMP Graphics alt=SCMP Graphics> "Most of our activities are made for a marketing purpose," Anta's chief marketing officer Lydia Zhu said in an interview with South China Morning Post . "We want to better connect with young consumers, and have some breakthrough in the marketing model. We haven't regarded it as a new sales channel yet." A direct link with consumers gives companies an option to sidestep the minefield of publicity backlash whenever brand envoys are caught in personal indiscretions or political scandals. It also creates the possibility for experimenting with new technologies such as the "gamification" of the shopping experience . These companies tend to collaborate with external designers and studios on their metaverse-related projects, such as NFTs and building up a virtual community based on an existing platform, experts said. The huge cost and expertise required for such efforts forced businesses to hire third-party suppliers instead, analysts said, such as Rimowa failed to issue a NFT as it wanted to self design it according to a February report by Credit Suisse. "The metaverse has strategic meaning for the retail and consumption industry, especially its function in creating a new retail scenario," said Andy Chen, assistant vice-president at the research department at Guotai Junan International. "In the virtual world, the better visual experience and active engagement provide better showcases for the products." Sources: DappRadar, Bitcoin.com alt=Sources: DappRadar, Bitcoin.com> The size of the early-stage consumer metaverse market is expected to reach US$1.3 trillion, according to CMB International, without outlining a specific time frame. Around US$54 billion has already been spent on virtual goods every year, almost double the spending on buying music, JPMorgan said. Yet, the journey of consumer brands' rush into the metaverse may be strewn with landmines. Existing sales models may not readily fit in the virtual world, not even for the largest conglomerates with the deepest pockets that had been the pioneers of the push. Gucci's competitor LVMH Moet Hennessy-Louis Vuitton has made it clear to not expect any NFT, or virtual product, to come out any time soon from the vast portfolio of the world's largest luxury-goods seller. Bernard Arnault, billionaire and chairman of LVMH Moet Hennessy Louis Vuitton SE, speaks at the inauguration of the Atelier Louis Vuitton Vendome in Vendome, France, on Tuesday, Feb. 22, 2022. Photo: Bloomberg alt=Bernard Arnault, billionaire and chairman of LVMH Moet Hennessy Louis Vuitton SE, speaks at the inauguration of the Atelier Louis Vuitton Vendome in Vendome, France, on Tuesday, Feb. 22, 2022. Photo: Bloomberg> "We are not interested in selling a pair of virtual sneakers for €10," said Bernard Arnault, Europe's wealthiest man and founder of LVMH, when asked about the metaverse during a January 27 earnings call with analysts. "[The metaverse] is a virtual world. Right now, we are very much in a down-to-earth world. We want real products selling for real [money]." Still, related applications may be afoot. LVMH developed a blockchain called AURA with Microsoft and ConsenSys in early 2021 for authenticating the provenance of luxury goods and weed out counterfeit products. The AURA blockchain has since expanded into a consortium of the world's largest luxury brands, involving Prada, Richemont - the owner of Cartier, Dunhill, Montblanc among others - and OTB Group. The metaverse also creates a potential dilemma for luxury brands, particularly for business models that rely on hefty profit margins to support their heavy marketing campaigns. An overly aggressive push to issue digital products risks turning the brand into a mass-market label, diminishing the cache and premium that come with limited-edition goods. "This is a tricky activity that may be detrimental in the long run for brands that overuse it," as it lowers the value of the brand, said Andrea Fenn, chief executive of the digital consultancy Adiacent China, in Shanghai. "If that happens, luxury brands are doomed, because they are all about perceived value instead of real value." The future development of virtual infrastructure is uncertain, depending on whether technological advancements can enable the smooth running of the metaverse, analysts said. Additionally, regulatory pressure could increase as the trading of NFTs is not legal in every corner of the world. South China Morning Post , with an archive of news articles and photographs dating from the newspaper's establishment in 1903, is poised to launch its own NFT next week called ARTIFACTs , capturing some of the most important news events from 1997 , a watershed moment in Hong Kong's history. Some brands are using the metaverse as marketing gimmicks, while some are exploring new businesses that are unlikely to contribute to much revenue at least in the short term, Adiacent China's Fenn said. "A fraction of brands are going to properly explore this as a business tool. And the overwhelming majority of brands are going to use this within their marketing mix." The buzz of the metaverse was magnified when the eponymous operator of the Facebook social network renamed itself Meta, trading under the mnemonic MVRS on December 1. In Asia, the concept entered the mainstream as several exchange traded-funds (ETFs) comprising metaverse-related stocks, with CSOP Asset Management launching its metaverse ETF last month . The fund's portfolio encapsulates 46 US-listed technology stocks with US$5.2 trillion in combined capitalisation, including Apple , Meta, WeChat's operator Tencent Holdings , the 3D graphics processor maker Nvidia and the online games platform Roblox. All this hoopla could be nothing more than a fairy tale created by the world's largest technological giants to boost their stock price, said iiMedia Research in Guangzhou. "The metaverse is a castle in the sky, created for speculation in the capital market, " said iiMedia's chief executive Zhang Yi. "The difficulty of the real economy is how to sell products to consumers faster, with higher profits, and that's what they should do." "Consumers will not buy these kinds of activities, even if they are aimed for marketing or promotion of the brand," Zhang said. He refuted some analysts' opinion that metaverse will disrupt the consumer sector. "What disrupts the industry should bring real benefit and innovation to consumers and help innovate the marketing strategies in the sector," Zhang said. This article originally appeared in the South China Morning Post (SCMP) , the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2022 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2022. South China Morning Post Publishers Ltd. All rights reserved. View comments || Crypto Market Capitalization Slumps to $1.5T as Russia Attacks Ukraine: The market capitalization of all cryptocurrencies slid to as low as $1.5 trillion, losing almost 9% in 24 hours, as Russia launched a“special military operation”against Ukraine. The prospect of damage to the global economy also weighted on broader financial markets, with the Stoxx 600 Europe index falling more than 3%, micro Nasdaq 100 futures down 2.3% and Russia's MOEX equity index dropping a record 28%.
In the past 24 hours, bitcoin fell 8%, touching $34,725 in early Asian hours. Thefear & greed index– a tool used to calculate public sentiment of the crypto market – fell 2 points to a “fear” level reading of 23.
“The aggravation of tension around Ukraine exerted pressure on risky assets,” said Alex Kuptsikevich, a financial analyst at FxPro, in an email to CoinDesk. “There are growing risks of escalation associated with the introduction of Russian troops into Donbass. In such a situation, risky assets may continue to decline further.”
Donbass refers to two breakaway regions of Ukraine under the control of separatist groups.
The slide in cryptocurrencies shows the sector remains a nascent asset class compared with traditional markets, Kuptsikevich said. “We see that cryptocurrencies are selling stronger than developed world stocks, confirming the risky nature of these assets and how they are not a replacement for gold.”
Liquidations, or losses on crypto-tracked futures, reached over $250 million in early Asian hours as major cryptocurrencies tumbled more than 10%. In the past 24 hours, ether lost 12% of its value, with Cardano’s ADA and Solana’s SOL falling as much as 16%.
Investors, however, continue to hold bitcoin according to metrics tracked on analytics tool Glassnode. The wallets of long-term investors hold record volumes of BTC at 76.5% as of Thursday morning despite the drop in prices, suggesting some investors are continuing to nurture the purported hedging capabilities of the world’s largest cryptocurrency. || AMC Theatres Will Accept DOGE and Shiba Inu via BitPay: AMC Theatres customers next month will be able to pay with meme coins dogecoin (DOGE) and shiba inu (SHIB) using crypto payments provider BitPay. “BitPay will be live for AMC online payments on our web site by March 19, and live on our mobile apps by April 16, possibly a few days earlier,” tweeted AMC CEO Adam Aron on Monday. In November the company, a unit of AMC Entertainment Holdings (AMC) began accepting bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC) for payments, and promised DOGE was coming soon. At that time, AMC also said it would explore using shiba inu. AMC shares were up about 4% today, but remain lower by more than 30% year to date. See also: Verifone Partners With BitPay to Support Crypto Payments View comments || Crypto Community Divided Over Biden’s Digital Asset Executive Order: • The Biden Administration has finally recognized the cryptocurrency industry.
• The order did not mention decentralization or BTC, however.
• Not all are convinced of the need for a central bank digital currency.
The United States has been dragging its feet regarding recognizing digital assets and developing a regulatory framework, but the wheels are finally in motion.
This week, the Biden Administration signed a long-awaited executive order that green lights further study of the crypto ecosystem and development of a central bank digital currency. It has not been the crackdown expected from a government that has recently grown increasingly critical of cryptocurrencies.
Treasury Secretary Janet Yellencommended the initiative this week, adding that the department will work with other state departments to encourage innovation and minimize risks, something regulators have consistently warned about.
CEO of USDC stablecoin issuer Circle, Jeremy Allaire,saidthat the “whole-of-government approach to at once harness opportunities while controlling and mitigating inherent risks in responsible innovation is encouraging.” Circle is one of the companies working closely with regulators to get things moving along.
Executive director of the Blockchain Association industry group, Kristin Smith, echoed the sentiment stating, “I’m really excited that there will be an opportunity to be part of discussions to keep the US a leader in this space.”
Stellar Development Foundation (SDF) CEO Denelle Dixon said that the executive order “recognizes the need for clarity so the industry can continue to evolve, grow, and meet the ever-increasing enthusiasm and momentum we see for the sector.”
Pro-crypto Republican Senator Tom Emmerobservedthat the order did not seek direct input from the Securities and Exchange Commission, which is a good thing:
“SEC Chair Gensler has spent the past year intimidating crypto innovators and entrepreneurs with his unproductive regulation by public statement and enforcement action. His input is not critical.”
Executive Director of the Washington-based crypto think tank Coin Center, Jerry Brito, also saw the positives, stating “the message I take from this EO is that the federal government sees cryptocurrency as a legitimate, serious, and important part of the economy and society,”
Not everybody was as enthusiastic, however. The founder of the ShapeShift crypto platform, Erik Voorhees,saidthat it was nothing more than a “perfectly political communication.”
“The crypto Executive Order basically says “we’re going to look into this stuff” (as if they haven’t been for years) and then lists a number of platitudes about balancing innovation with protecting the financial system.”
Senator Emmer pointed out that it did not mention decentralization anywhere. In contrast, Human Rights Foundation CSO Alex Gladstein pointed out that it didn’t mention Bitcoin (BTC) but was “heavy on CBDCs.”
Pro-crypto Senator Cynthia Lummis was alsounconvincedon the need for a CBDC. Concerns have been raised that a central bank digital currency would give the Fed the same level of authoritarian control over finances that the Chinese government has.
Thisarticlewas originally posted on FX Empire
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• Natural Gas Prices Slide Following Inventory Report || EOne & Forbes Entertainment Team On Bitcoin Money Laundering Scandal Projects: The bitcoin money laundering scandal, which has made headlines in the national news recently, will be the subject of two projects from Entertainment One and Forbes Entertainment . The companies have teamed to produce a scripted series and a documentary about the scandal following the Feb. 8 arrest in Manhattan of so-called “crypto couple,” Heather Morgan and Ilya “Dutch” Lichtenstein, who are awaiting trial on charges alleging they tried to launder $3.6 billion in stolen bitcoin. The scripted project is co-produced by eOne , Forbes Entertainment and Tucker Tooley Entertainment, and the documentary hails from eOne’s Blackfin and Forbes Entertainment. In this courtroom sketch, attorney Sam Enzer, center, sits between Heather Morgan, left, and her husband, Ilya “Dutch” Lichtenstein, in federal court, Tuesday, Feb. 8, 2022, in New York. - Credit: AP/Elizabeth Williams AP/Elizabeth Williams More from Deadline Channel 4 Buys 'Hitler: A Life In Pictures'; ITV Studios Signs Drama DoP; EOne 'Newsreader' Sales; Starzplay Nordics App; Netflix UK TikTok Showcase - Global Briefs 20th Television's Albert Page Becomes President Of 'Clickbait' Producer Heyday Television U.S. Rawson Marshall Thurber To Spearhead Flagship 'Dungeons & Dragons' TV Series For eOne The projects are based on Forbes’ reporting on the couple, the publication’s expertise in wealth and financial journalism and their unique perspective of having a relationship with Morgan, who, from July 2017 was a ForbesWomen Contributor on Forbes.com until Forbes ended its relationship with her September 2021. “The Crypto Couple’s story reads like a modern-day Bonnie and Clyde drama,” said Travis Collins, Director, Partnerships, Forbes Entertainment. “As the de-facto source of tracking wealth and publishing financial investigative journalism, Forbes can help bring this story to life in a way that few can do as authoritatively. Through this riveting narrative, we aim to help educate audiences about the cryptocurrency world, one that to many remains mysterious and ethereal.” Production on the documentary project has already begun, including filming and extensive archival research into the story. Geno McDermott and Jordan Rosenblum are executive producers for Blackfin, an eOne company. Story continues Tucker Tooley of Tucker Tooley Entertainment will executive produce the scripted project. “With the combination of the elite reporting from Forbes and the incredible skills and passion of our producing partners, we feel uniquely situated to bring this story to life for global audiences,” said Michael Lombardo, eOne’s President of Global Television. “We look forward to telling this story across multiple formats together with Forbes.” Blackfin is behind 2021’s Tulsa Burning: The 1921 Race Massacre on History Channel and Netflix’s Tiny Creatures. Tulsa Burning earned three Primetime Emmy nominations, and Tiny Creatures received 2 Daytime Emmy Awards for Outstanding Travel, Adventure and Daytime Program and Outstanding Cinematography. Blackfin’s previous hit series include Killer Inside: The Mind of Aaron Hernandez, investigative series Finding Escobar’s Millions for Discovery, Chasing Ghislaine, I am Homicide and Homicide City for ID, among others. Recent credits for Tucker Tooley Entertainment include Concrete Cowboy for Netflix starring Idris Elba, The United States Vs. Billie Holiday for Hulu, which earned an Oscar nomination for lead actress Andra Day and was directed by Oscar nominee Lee Daniels. Its next film, Arthur the King, stars Mark Wahlberg and will be released in 2022. Best of Deadline Cancellations/Renewals Scorecard: TV Shows Ended Or Continuing In 2021-22 Season What's New On HBO Max For January 2022: Day-By-Day Listings For TV Shows & Movies New On Prime Video For January 2022: Daily Listings For Streaming TV, Movies & More Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . || El Salvador says Ukraine is factor in bitcoin-backed bond timing: SAN SALVADOR (Reuters) -El Salvador is looking for the right timing to launch a bitcoin-backed bond, which could happen between March 15 and 20 but may depend on the war in Ukraine, the Central American nation's finance minister Alejandro Zelaya said on Friday. President Nayib Bukele aims to issue his country's first-ever $1 billion bitcoin-backed bond this month and use the proceeds to buy more cryptocurrencies and build "Bitcoin City" - a planned metropolis that would use geothermal energy from a nearby volcano to "mine" the digital coins. "We believe that between March 15 and 20 is the right timing, we have the tools almost finished. But the international context will tell us ... I didn't expect the war in Ukraine," Zelaya told a local TV channel. The bond has faced headwinds as intensifying volatility rocks the cryptocurrency, with Russia's invasion of Ukraine adding to the uncertainty. "We're still finishing some details, almost everything is ready, the thing is there is also a timing issue," Zelaya said. Bitcoin, hit a record high above $67,500 in early November, but lost almost half its value by Jan. 22. (Reporting by Nelson Renteria; Writing by Anthony Esposito; Editing by Frank Jack Daniel)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 42287.66, 42782.14, 42207.67, 39521.90, 40127.18, 41166.73, 39935.52, 40553.46, 40424.48, 39716.95
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-02-01]
BTC Price: 38743.27, BTC RSI: 41.74
Gold Price: 1800.30, Gold RSI: 46.38
Oil Price: 88.20, Oil RSI: 68.45
[Random Sample of News (last 60 days)]
Spain Wants to be a Crypto Hub with 100 Bitcoin ATMs to be Installed in 2022: Spain is making a case to become a cryptocurrency hub in Europe, and the latest developments show that it is possible.
Bitnovo, a leading Spanish bitcoin payment platform, has partnered with Eurocoin, Europe’s leading supplier of electronic components. The partnership will lead to the installation of 100 cryptocurrency ATMs in the country before the end of the year.
Spain is the leading country in Europe in terms ofBitcoinATMs, with199 currently availablein the country. The installation of 100 more Bitcoin ATMs in 2022 will take its total to nearly 300. Spain will be behind the United States and Canada in terms of the total Bitcoin ATMs available in a country.
The CEO of Eurocoin, Fernando Dumont, believes the partnership with Bitnovo is a strategic move into the cryptocurrency space. He pointed out that he believes cryptocurrencies will exist alongside the traditional mode of payments.
Spain is planning to become the leading cryptocurrency country in Europe. Following the internet shutdown in Kazakhstan earlier this year thataffected Bitcoin’s mining hash rate, Deputy for the Spanish Ciudadanos political party María Muñoz proposed a bill to make Spain a crypto mining hub.
However, there has been no discussion of the bill in the Spanish parliament since then.
North America leads the way in terms of Bitcoin ATMs in the world. At the moment, there are over 36,000 Bitcoin ATMs globally. However,North America accounts for 94.9%of the total number of Bitcoin ATMs globally (the United States has 30,835 and Canada has 2,266).
Europe accounts for 4% while the rest of the world shares the remaining 1%. In Europe, Spain leads the way, with 199 Bitcoin ATMs, followed by Switzerland with 142. Asia, Africa, and South America are far behind the other continents.
Thisarticlewas originally posted on FX Empire
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• Preview: What to Expect From NetFlix’s Earnings Next Week || WEEX Public Test Starts, Offering New User Choices: Singapore, Singapore--(Newsfile Corp. - December 29, 2021) - On December 27, 2021, WEEX, the world's safest and easiest-to-use futures trading platform, officially launched the futures trading of mainstream assets. The new registration process brings users a new experience of low rates, safety and convenience.
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8247/108622_20290d2894d038a5_001full.jpg
As the first-tier exchanges withdraw from the mainland market, ordinary investors want to get involved in digital currency trading. The first consideration is safety.
WEEX has provided an innovative platform for investors in digital currency in terms of security and professionalism. With all-round security protection and high-speed transaction matching technology, it has attracted more and more investors' attention.
WEEX, as a compliance trading platform, has always taken the interests of users as the fundamental starting point, and effectively protected the safety of users' funds. WEEX carries out multi-level protection on platform funds through multi-dimensions, and avoids risks by setting up multi-level security protection systems such as platforms, accounts, wallets and internal control management.
During the development process of the WEEX platform, safety was taken as an important indicator, the trading mechanism was continuously improved, two modes of full position and position-by-position were adopted, zero handling fee was imposed on the step closing position, and the original mark-up price system in the encrypted money market was adopted to protect small and medium-sized customers.
From the very beginning of the platform's creation, it has reflected WEEX's long-term strategic vision and provided a complete service security strategy. Based on overseas experience, servers are deployed and backed up in multiple locations, so that security will never be lost and user information will not be leaked.
The relevant responsible persons of WEEX unanimously stated to the public that WEEX has always adhered to the business philosophy of "customers first, partners first", and insisted on focusing on users' needs. It also needs to comply with the regulatory requirements of various countries around the world, which includes that the company should have a formal license.
For encrypted money exchanges, regulation is a test for every platform. Currently, WEEX has obtained financial licenses from Singapore, Dubai, MSB of the United States and MSB of Canada. "WEEX conducts its business legally on the premise of compliance, and WEEX never fights unprepared battles," WEEX CEO Peter said. Peter said that this is also the reason why WEEX was trusted by users once it started. In order to attract more encryption enthusiasts around the world, WEEX needs to be subject to supervision and compliance development.
Professional User Considers Hard Core Standard
When users choose the digital currency trading platform, professionalism is also an important principle. The reason is that ordinary investors lack the knowledge and skills to encrypt investments in digital currency and are in urgent need of professional services. On the one hand, there are many kinds of encryption digital currency, such as wallet management, account opening in the exchange, transaction processing and other tedious operations; on the other hand, derivatives such as futures fluctuate greatly as digital currency trades 7x24 hours. In terms of development strategy, WEEX aims at the global market to actively deploy the block chain, provide multi-country services and provide encrypted monetary and financial services for global users. Its business includes spot and perpetual futures transactions, etc. It has gathered a group of professionals from leading global enterprises in technology and finance. It has rich experience in the block chain industry in the field of digital currency, and its teams are distributed all over the world, including Singapore, Taiwan Province and Dubai.
In terms of product transaction strategy, WEEX has a professional chart transaction analysis tool, which provides a wealth of technical indicators, and two modes of concise transaction and professional transaction. The product is designed to match the world's top institutions, making it possible to make payments when they are due, and creating an anonymous and secure transaction environment. It can use email for registration, omitting KYC fully, bringing an unprecedented experience to the user's operation.
In terms of capital safety, the bank has multi-signature wallets for asset management verification, providing Google with double verification to ensure capital safety, distributed wallet management, and fast capital allocation. It has also set up 1,000 BTC deposit pools with sufficient funds. Users can withdraw cash at any time. At the same time, the bank's address is publicized to ensure that the funds pool is truly open and supervised.
In terms of market inclusiveness, WEEX has always maintained an open stance. It is committed to providing safe and friendly digital currency trading services for users in digital currency and "fair and win-win" cooperation opportunities for its partners. The person in charge of WEEX said that the platform would welcome agents from all over the world to join the platform and work together to paint a new picture brought by encrypted currency.
WEEX is built with an investment of US$ 100 million from Singapore's top block chain investment institutions. As the upstream of the digital currency market, WEEX will closely follow the trend on the basis of polishing its products and select the mainstream and popular encryption asset segment. WEEX has the strength to provide users with high-quality investment targets. In the current global environment, WEEX has set a new benchmark for a compliant and secure exchange, providing first-class digital financial services to users worldwide with high standards.
Follow WEEX platform inFacebook,Medium,Discord,Reddit,TwitterandWeiboand get more investment guidance and welfare activities for free!
Online consultation:
WEEX Chinese community:https://t.me/Weexasia_ExchangeWEEX English community:https://t.me/Weex_GlobalWEEX official website:https://www.weex.com
Company Name: WEEX INTERNATIONAL EXCHANGE LTDContact Person: ChaseEmail:business@weex.comCountry: SingaporeWebsite:https://www.weex.com
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/108622 || UK House of Lords Committee: CBDCs Could Present Financial Stability and Privacy Challenges: Central banks in various parts of the world are either developing their CBDCs or working on the best method to do so. However, a Digital Pound Sterling has not gained widespread acceptance in the United Kingdom.
The House of Lord Committee has concluded that there isno convincing use casefor a central bank digital currency (CBDC) at the moment. This latest development could dent the development of a CBDC by the Bank of England (BoE).
The committee said,“While a CBDC may provide some advantages, it could present significant challenges for financial stability and the protection of privacy.”
The Economic Affairs Committee of the House of Lords initiated an inquiry in September 2021. The inquiry was to explore how a central bank digital currency might affect the role of the Bank of England, its monetary policies, and the broader financial sector.
However, the report is not in favor of the development of a CBDC in the United Kingdom at the moment. The committee said the availability of a CBDC will ultimately see consumers transfer money from their bank accounts into CBDC wallets.
The committee added that there need to be limitations on the amount of CBDC individuals could hold.
The Bank of England and Britain’s finance ministryannouncedon November 9, 2021, that they would hold a formal consultation next year on whether to move forward on a possible CBDC this year. However, no formal date for the consultation has been announced.
In November, BoE governor Andrew Baileycommented thata fifth of commercial bank deposits could disappear if the apex bank develops a CBDC.
At the time, deputy governor for financial stability Jon Cunliffe said, “Banks would need to adapt. They would lose a revenue stream from payments.”
Central banks are developing their CBDCs as the use ofBitcoin, and other cryptocurrencies continue to increase. The emergence and increasing adoption of stablecoins is also a concern for financial institutions.
Thisarticlewas originally posted on FX Empire
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• E-mini Dow Runs into Retracement Zone Resistance at 36331 || SPACE Bags 100+ Partnerships Including Binance Labs Investment: In a round of strategic investments and collaborations, social commerce platform SPACE Metaverse has successfully bagged investment from Binance Labs alongside over 100 other brand partnerships. The cryptocurrency market, even though relatively new in comparison to the traditional market spaces has pretty much the same dynamics when it comes to sectoral growth. For instance, power-packed branding or marketing and high profile collaborations as well investments aid growth for organizations still. Grasping opportunities in the booming Metaverse sector, SPACE has laid down plans to bring offline commerce into the metaverse. SPACE Carving its Space The global metaverse market size reached $47.69 billion in 2020 and is expected to reach $828.95 billion in 2028 registering a CAGR of 43.3% as per reports . Jumping on the Metaverse bandwagon, Space aims to build a ‘metaverse of commerce’ where users can buy or sell goods while socializing and developing their own reality in the Metaverse. Recently, the Alpha version of the Space platform was launched in an effort to further push unique properties for commercial interaction between users. The recent strategic partnerships are aimed to focus on commerce functionality while laying stress on expansion in the Metaverse space. One of the biggest investments came from Binance Labs and the same aims to lend further credence to the segment’s monetization potential. So, What’s Next on Cards? Other brand partnerships focused on art, music, and fashion industries include collaborations with Zevi G, Arthur Art Gallery, KYLE GORDAN ARTIST, Soho Ski Club, DoinGud Art Gallery, among others. Commending the partnerships, SPACE Founder and CEO Batis Samadian highlighted: “This fresh funding will accelerate our rollout momentum and reinforce our efforts to secure major brand partnerships that align with our vision of social commerce in the metaverse.” In addition to that, the platform is already backed by a consortium of investors, including Animoca Brands, Coinfund, Dapper Labs, Digital Currency Group, and others. Story continues SPACE also aims to increase development efforts as it advances towards an upcoming token generation event (TGE) while planning to launch iOS and Oculus applications this year. Notably, enthusiasm in the Metaverse space was once again stirring as Metaverse assets are seeing a nice increase in trading volume of late. While prices of altcoins like MANA , AXS , and SAND have maintained the same levels, key trends seem to be pivoting which could further aid growth for the larger space in the mid-short term. This article was originally posted on FX Empire More From FXEMPIRE: Over 20 Million Chinese Citizens Are Using Digital Yuan App Bitcoin and Ether Resume Slide, Why ADA Could Rally Again Crude Oil Markets Pierces to Make New Highs Can Crypto Really Beat Inflation? More Than 1.1 Million Wallets Now Hold Shiba Inu Meme Coin UK’s HM Treasury Tightens Rules To Address “Misleading” Crypto Ads || Valkyrie Applies to List Bitcoin Miners ETF on Nasdaq: Crypto asset manager Valkyrie has applied to the U.S. Securities and Exchange Commission (SEC) to list its exchange-traded fund (ETF) offering exposure to stocks in bitcoin mining companies on Nasdaq. The Valkyrie Bitcoin Miners ETF will invest at least 80% of its net assets in securities of firms that derive a minimum of 50% of their profit from bitcoin mining, according to a filing with the SEC Wednesday . Following the SEC's reluctance to approve a spot bitcoin ETF, asset managers and investment firms have turned to products offering exposure to the futures market or companies that are themselves exposed to bitcoin in other ways, such as mining or holding crypto on their balance sheets . Valkyrie's miners ETF is similar in composition to one from VanEck, which applied to the SEC to launch a digital asset mining fund in December. In October, Valkyrie became the third firm to win SEC approval to list a bitcoin futures ETF, following ProShares and VanEck. The proposed fund will charge a management fee of 0.75% and incorporate both U.S. and non-U.S. companies, including some in emerging market countries as defined by the FTSE Emerging Index. Read more: Are Spot Crypto ETFs Really Worth the Wait? || Bitcoin and Ether Gain Momentum, Why SOL Rally Could Face Hurdles: After forming a base above the $37,000 level,Bitcoinprice started a decent increase. BTC was able to clear the $37,500 and $38,000 resistance levels.
The price even settled above the $38,500 level and the 21 simple moving average (H1). It is now consolidating near the $39,000 level. A clear move above the $39,000 level might push the price towards the $40,000 level.
If not, the price could start a downside correction towards the $37,500 level in the near term. The next major support is seen near the $36,500 level.
Etheralso started a major increase from the $2,500 support zone. The price was able to clear the $2,650 resistance zone and the 21 simple moving average (H1).
The upward move was such that the price rallied above the $2,750 resistance. It is now consolidating near the $2,800 level. There is also a key bullish trend line forming with support near $2,700 on the hourly chart.
An immediate hurdle is near the $2,850 level. A clear move above the $2,850 level could set the pace for a larger increase. The next key barrier is $3,000, above which the price could revisit the $3,200 resistance.
If there is a downside correction, the price might find bids near the $2,700 level and the trend line, below which there is a risk of a sharp decline.
SOLdeclined steadily after there was a clear move below the $120 support. The price even broke the $100 support level and settled below the 21-day simple moving average.
It tested the $80 support zone, where the bulls took a stand. As a result, there was an upside correction above the $88 and $90 levels. Today, the price rallied over 15% and traded above the $100 barrier.
However, the price could soon face hurdles near the $115 level and the 21-day simple moving average. If there is a clear move above $115 and $120, the price could rise towards the 38.2% Fib retracement level of the downward move from the $250 swing high to the $80 swing low.
If there is a bearish reaction, the price could test $100. The next major support is near $88, below which there is a risk of a move below $80.
Cardano (ADA)is gaining pace above the $1.05 level. If the bulls remain in action, the price could rise above $1.08 and $1.10. The next major resistance is near $1.15.
Binance Coin (BNB)is still below the $400 resistance level. To start a major increase, the price must settle above $400. If not, it could decline to $350.
Polkadot (DOT)is up 10% and trading above the $19.50 level. Immediate resistance is near $20.00, above which the price could rise to $22.50.
A few trending coins areATOM,LEO, andEGLD. Out of these EGLD is up 10% and there was a clear move above the USD 150 level.
Thisarticlewas originally posted on FX Empire
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• Solo Bitcoin Miner Solves One Full Valid Block as BTC Price Pushes for Gains || Market Wrap: Bitcoin Stabilizes as Altcoins Underperform: Cryptocurrencies are starting to stabilize after declining sharply over the past week. Some indicators show investor sentiment at extremely bearish levels, which typically precede periods of buying activity. Other technical measures , however, suggest choppy price action could persist over the short term. Bitcoin returned to above $35,000 and was up 3% over the past 24 hours, versus a 5% decline in SOL and roughly flat performance in ETH over the same period. Still, it might be too soon to call a price bottom. "I think the determination of a bull/bear market is not as clear as previous cycles, due to the structure of the market changing drastically with institutions entering the space," Marcus Sotiriou, an analyst at the U.K.-based digital asset broker GlobalBlock , wrote in an email to CoinDesk. "Now, it is apparent that bitcoin is in a ranging environment (between $29,000 to $69,000 approximately) rather than a trending environment," Sotiriou wrote. "Bitcoin’s recovery is a long shot as investors are more keen on the price being stabilized for now," Alex Axelrod, founder and CEO of Aximetria, a crypto financial services firm, wrote in an email to CoinDesk. Axelrod is monitoring BTC price levels of between $32,000 and $40,000 for confirmation of a breakdown or breakout. Latest prices ● Bitcoin (BTC): $36925, +4.41% ● Ether (ETH): $2448, +0.88% ● S&P 500 daily close: $4410, +0.28% ● Gold: $1842 per troy ounce, +0.56% ● Ten-year Treasury yield daily close: 1.74% Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. The chart below shows the recent increase in bitcoin's spot trading volume. Short-term traders have been active despite the uncertainty regarding future price direction. Story continues Bitcoin's trading volume (CoinDesk) Short-term holders underwater Losses are adding up for most short-term bitcoin holders, according to blockchain data. The chart below indicates that 18% of short-term bitcoin holder supply is at a loss (BTC trading below its average cost basis), which could point to further selling. A similar scenario occurred during the 2018 bear market and subsequent price corrections. Still, long-term bitcoin holders appear unfazed by the recent price dip. "The proportion of long-term holder supply has actually returned to a modest uptrend, which indicates a general unwillingness for this cohort to liquidate," Glassnode, a crypto data firm, wrote in a blog post on Monday. Short-term bitcoin holder supply in profit/loss (Glassnode) Crypto funds attract fresh capital Inflows into digital-asset funds last week – after five straight weeks of outflows – suggest investors were taking advantage of the price dip. Cryptocurrency funds brought in $14.4 million of new investor money during the seven days through Friday, ending a streak of five straight weeks of outflows, according to a report Monday from the digital-asset manager CoinShares. Last week's inflows were led by bitcoin-focused funds, which brought in $13.8 million. Meanwhile, ethereum-focused funds suffered $15.6 million of outflows. Read more here . Altcoin roundup Solana Slides 17% to lead losses amid crypto market plunge: Major cryptocurrencies fell as much as 17% in 24 hours as the crypto market followed a broader decline in U.S. stock index futures on Monday. Last Friday, traders complained about network congestion on Solana and doubted its ability to attract real capital with that kind of meltdown. Solana has been attractive to large trading shops partly because it has prioritized scale. Still, when the network gets overcrowded, it has shown that it can stall out. Read more here . Luxor tries to keep Proof-of-Work Mechanism on Ethereum: Crypto software and services company Luxor is launching an Ethereum mining pool even as it is planning to abolish mining from its network. The company is working with large institutional miners, including Hut 8 and several retail miners in North America, to provide a U.S.-based Ethereum mining pool, the company said in a statement on Monday, according to Aoyon Ashraf. Read more here . OpenSea bug allows attackers to get massive discount on popular NFTs: A bug on the non-fungible tokens (NFT) marketplace OpenSea has allowed at least three attackers to secure massive discounts on several NFTs and make a huge profit. The bug, which was discovered as early as Dec. 31, allowed the attackers to buy NFTs at older, lower prices, and sell them for a hefty profit, according to Eliza Gkritsi. Read more here . Relevant news Coinbase Taps SEC Counsel Thaya Knight to Manage Public Policy Team Bank of America Says US CBDC Would Preserve Dollar’s Status as World’s Reserve Currency Chinese Government Rejects Metaverse Trademark Applications: Report Singapore VC Blockchain Founders Raises $75M for New Fund Other markets Most digital assets in the CoinDesk 20 ended the day lower. Largest gainers: Asset Ticker Returns Sector Cosmos ATOM +17.5% Smart Contract Platform Stellar XLM +10.9% Smart Contract Platform Litecoin LTC +9.8% Currency Largest losers: Asset Ticker Returns Sector Solana SOL −3.0% Smart Contract Platform Filecoin FIL −1.5% Computing Polygon MATIC −1.2% Smart Contract Platform Sector classifications are provided via the Digital Asset Classification Standard (DACS) , developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges. || ARGI Investment Services, LLC Buys BTC iShares MSCI Emerging Markets Multifactor ETF, Hartford ...: Louisville, KY, based Investment company ARGI Investment Services, LLC ( Current Portfolio ) buys BTC iShares MSCI Emerging Markets Multifactor ETF, Hartford Multifactor Developed Markets (ex-US) ETF, SPDR Semiconductors ETF, iShares PHLX SOX Semiconductor Sector Index Fund, First Trust NASDAQ Clean Edge Green Energy Idx Fd, sells BTC iShares MSCI Emerging Markets Min Vol Factor E, Invesco Solar ETF, ARK Next Generation Internet ETF, Invesco WilderHill Clean Energy ETF, Comerica Inc during the 3-months ended 2021Q4, according to the most recent filings of the investment company, ARGI Investment Services, LLC. As of 2021Q4, ARGI Investment Services, LLC owns 418 stocks with a total value of $3.4 billion. These are the details of the buys and sells. New Purchases: EMGF, QCLN, LEG, ARCB, ADUS, SMP, MTH, HWKN, MYE, REZ, SMH, COMT, JNK, KRE, LIT, DGRW, BSV, BSCN, AMD, RIVN, VYMI, AVGO, TREX, O, LIN, PKI, MMC, GSK, FCX, FDX, EL, DTE, COP, CL, BXMT, Added Positions: RODM, SPAB, SPTS, IEF, IEI, SKOR, SOXX, XSD, HYLB, ETR, WBA, PCY, SWAN, VEA, CPB, FE, PG, DOW, SPEM, ANGL, STIP, VOO, MSFT, ISWN, BF.B, MED, ISCF, VBR, VSS, CAH, NWL, UFPI, ZUMZ, LGIH, ADP, LUMN, IBM, IP, HZO, MLI, PNW, VZ, WU, MYRG, LYB, ABBV, KHC, IAGG, JPEM, VXF, AEP, AAPL, DUK, EIX, ENB, PLUS, BEN, GILD, GOOGL, JPM, K, NI, OMC, PNC, PBCT, PRFT, PFE, PFG, PRU, SO, ANTM, BF.A, FB, AGG, GLDM, SPDW, VT, XLE, MMM, PLD, ACN, ADBE, AB, MO, AMZN, AXP, AMT, AMGN, AMAT, BAC, BDX, BKH, BLK, BMY, BG, CSX, CVS, CAT, CNP, SCHW, CI, CSCO, KO, CAG, INGR, COST, DHR, DE, D, LLY, EPD, EXC, XOM, NEE, FITB, FLO, F, HD, HRL, HUM, HBAN, TT, INTC, ICE, IPG, SJM, KMB, MDLZ, KR, LRCX, LMT, LOW, MDU, MAR, MCD, MCK, MRK, MS, NVDA, NFLX, NKE, NUS, OGE, ORCL, OMI, PPL, PEP, BKNG, QCOM, DGX, SJI, SWX, SBUX, TJX, TGT, TXN, TMO, TSN, UGI, USB, UNP, RTX, UHS, UNM, WPC, WMT, DIS, WFC, XRX, DNP, MA, HBI, TMUS, V, PM, DG, CHTR, SHOP, PYPL, HPE, VST, CTVA, AOA, ARKK, BNDX, BSCM, DVY, EMB, ESGD, ESGU, FDMO, HYD, IDV, INTF, IRBO, ITM, MUB, ONEQ, PDBC, PFF, SIZE, SPXL, SPY, TIP, VB, VDC, VOT, VPU, VTV, XLF, Reduced Positions: EEMV, QUAL, CMA, CFG, EVRG, KEY, USMV, GIS, JPME, USVM, MTUM, LQD, IJH, VLUE, VGT, IVV, IJR, SHY, ITOT, XLK, RSP, VNQ, IEMG, IJS, IUSV, JPIN, SMLF, FTEC, PRFZ, YUM, SPLG, IYW, NVAX, MDT, SPGI, HPQ, GS, QQQ, GE, ETN, RWJ, DLTR, SNGX, IYR, SPLV, SPMD, SPTM, CRK, CMCSA, VCIT, C, VHT, VIG, BA, ADM, VO, IVZ, GLD, GOOG, MPC, ENR, AOR, DGRO, DLS, EEM, TSLA, EFA, FALN, FQAL, ABT, PSX, GRX, IGV, IJJ, IJK, VLO, UPS, IJT, TMP, STX, CRM, IVW, IWM, Sold Out: TAN, ARKW, PBW, PEG, SPSC, FORM, FLGT, ATNI, PSJ, NX, MGPI, BSCL, VOOG, IHI, CARR, HEI, IWS, HRC, KD, SLVM, MRNA, ROKU, BABA, TAP, IRBT, OSUR, BTG, VTRS, Story continues Warning! GuruFocus has detected 7 Warning Signs with ET. Click here to check it out. RODM 15-Year Financial Data The intrinsic value of RODM Peter Lynch Chart of RODM For the details of ARGI Investment Services, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/argi+investment+services%2C+llc/current-portfolio/portfolio These are the top 5 holdings of ARGI Investment Services, LLC SPDR Portfolio Aggregate Bond ETF ( SPAB ) - 6,695,631 shares, 5.79% of the total portfolio. Shares added by 8.94% Hartford Multifactor Developed Markets (ex-US) ETF ( RODM ) - 6,124,701 shares, 5.38% of the total portfolio. Shares added by 22.21% BTC iShares MSCI USA Quality Factor ETF ( QUAL ) - 1,241,533 shares, 5.28% of the total portfolio. Shares reduced by 7.33% BTC iShares MSCI USA Momentum Factor ETF (MTUM) - 941,503 shares, 5.00% of the total portfolio. Shares reduced by 1.18% iShares 3-7 Year Treasury Bond ETF (IEI) - 1,245,958 shares, 4.68% of the total portfolio. Shares added by 6.61% New Purchase: BTC iShares MSCI Emerging Markets Multifactor ETF (EMGF) ARGI Investment Services, LLC initiated holding in BTC iShares MSCI Emerging Markets Multifactor ETF. The purchase prices were between $48.94 and $52.23, with an estimated average price of $50.72. The stock is now traded at around $49.327800. The impact to a portfolio due to this purchase was 2.66%. The holding were 1,781,671 shares as of 2021-12-31. New Purchase: First Trust NASDAQ Clean Edge Green Energy Idx Fd (QCLN) ARGI Investment Services, LLC initiated holding in First Trust NASDAQ Clean Edge Green Energy Idx Fd. The purchase prices were between $60.81 and $81.69, with an estimated average price of $72.22. The stock is now traded at around $51.400000. The impact to a portfolio due to this purchase was 0.21%. The holding were 105,646 shares as of 2021-12-31. New Purchase: Leggett & Platt Inc (LEG) ARGI Investment Services, LLC initiated holding in Leggett & Platt Inc. The purchase prices were between $38 and $48.1, with an estimated average price of $43.32. The stock is now traded at around $37.700000. The impact to a portfolio due to this purchase was 0.1%. The holding were 85,933 shares as of 2021-12-31. New Purchase: ArcBest Corp (ARCB) ARGI Investment Services, LLC initiated holding in ArcBest Corp. The purchase prices were between $82.13 and $121.82, with an estimated average price of $102.32. The stock is now traded at around $83.530000. The impact to a portfolio due to this purchase was 0.08%. The holding were 23,804 shares as of 2021-12-31. New Purchase: Standard Motor Products Inc (SMP) ARGI Investment Services, LLC initiated holding in Standard Motor Products Inc. The purchase prices were between $45.2 and $54.56, with an estimated average price of $50.33. The stock is now traded at around $45.310000. The impact to a portfolio due to this purchase was 0.07%. The holding were 46,502 shares as of 2021-12-31. New Purchase: Meritage Homes Corp (MTH) ARGI Investment Services, LLC initiated holding in Meritage Homes Corp. The purchase prices were between $96.96 and $122.06, with an estimated average price of $112.01. The stock is now traded at around $97.000000. The impact to a portfolio due to this purchase was 0.07%. The holding were 20,923 shares as of 2021-12-31. Added: Hartford Multifactor Developed Markets (ex-US) ETF (RODM) ARGI Investment Services, LLC added to a holding in Hartford Multifactor Developed Markets (ex-US) ETF by 22.21%. The purchase prices were between $28.5 and $30.33, with an estimated average price of $29.7. The stock is now traded at around $28.735000. The impact to a portfolio due to this purchase was 0.98%. The holding were 6,124,701 shares as of 2021-12-31. Added: SPDR Semiconductors ETF (XSD) ARGI Investment Services, LLC added to a holding in SPDR Semiconductors ETF by 331.41%. The purchase prices were between $193.63 and $248.75, with an estimated average price of $227.9. The stock is now traded at around $187.490000. The impact to a portfolio due to this purchase was 0.21%. The holding were 37,753 shares as of 2021-12-31. Added: iShares PHLX SOX Semiconductor Sector Index Fund (SOXX) ARGI Investment Services, LLC added to a holding in iShares PHLX SOX Semiconductor Sector Index Fund by 373.29%. The purchase prices were between $433.84 and $555.47, with an estimated average price of $503.22. The stock is now traded at around $445.720000. The impact to a portfolio due to this purchase was 0.21%. The holding were 16,849 shares as of 2021-12-31. Added: Xtrackers USD High Yield Corporate Bond ETF (HYLB) ARGI Investment Services, LLC added to a holding in Xtrackers USD High Yield Corporate Bond ETF by 47.81%. The purchase prices were between $38.9 and $39.95, with an estimated average price of $39.49. The stock is now traded at around $38.625000. The impact to a portfolio due to this purchase was 0.16%. The holding were 433,423 shares as of 2021-12-31. Added: Entergy Corp (ETR) ARGI Investment Services, LLC added to a holding in Entergy Corp by 221.98%. The purchase prices were between $100.34 and $112.65, with an estimated average price of $105.22. The stock is now traded at around $109.880000. The impact to a portfolio due to this purchase was 0.13%. The holding were 57,167 shares as of 2021-12-31. Added: Walgreens Boots Alliance Inc (WBA) ARGI Investment Services, LLC added to a holding in Walgreens Boots Alliance Inc by 278.44%. The purchase prices were between $43.72 and $52.25, with an estimated average price of $48.45. The stock is now traded at around $49.760000. The impact to a portfolio due to this purchase was 0.13%. The holding were 117,350 shares as of 2021-12-31. Sold Out: Invesco Solar ETF (TAN) ARGI Investment Services, LLC sold out a holding in Invesco Solar ETF. The sale prices were between $73.76 and $100.53, with an estimated average price of $87.74. Sold Out: ARK Next Generation Internet ETF (ARKW) ARGI Investment Services, LLC sold out a holding in ARK Next Generation Internet ETF. The sale prices were between $114.71 and $156.93, with an estimated average price of $137.79. Sold Out: Invesco WilderHill Clean Energy ETF (PBW) ARGI Investment Services, LLC sold out a holding in Invesco WilderHill Clean Energy ETF. The sale prices were between $68.87 and $94.84, with an estimated average price of $81.29. Sold Out: Public Service Enterprise Group Inc (PEG) ARGI Investment Services, LLC sold out a holding in Public Service Enterprise Group Inc. The sale prices were between $59.28 and $66.73, with an estimated average price of $63.36. Sold Out: SPS Commerce Inc (SPSC) ARGI Investment Services, LLC sold out a holding in SPS Commerce Inc. The sale prices were between $132.75 and $173.12, with an estimated average price of $149.45. Sold Out: Fulgent Genetics Inc (FLGT) ARGI Investment Services, LLC sold out a holding in Fulgent Genetics Inc. The sale prices were between $77.3 and $105, with an estimated average price of $88.16. Here is the complete portfolio of ARGI Investment Services, LLC. Also check out: 1. ARGI Investment Services, LLC's Undervalued Stocks 2. ARGI Investment Services, LLC's Top Growth Companies, and 3. ARGI Investment Services, LLC's High Yield stocks 4. Stocks that ARGI Investment Services, LLC keeps buyingThis article first appeared on GuruFocus . || Melania Trump Celebrates Bitcoin Network’s 13th Anniversary: TheBitcoinnetwork celebrated 13 years since it was launched yesterday, and some of the leading personalities in the crypto world paid tribute to the leading cryptocurrency. However, Bitcoin was also celebrated by some unlikely people.
Melania Trump, the former First Lady of the United States, posted a celebratory message for Bitcoin after the leading cryptocurrency celebrated its thirteenth anniversary since the network was launched.
In her tweet, Melania said Bitcoin’s market cap is around $1 trillion, and yesterday made it thirteen years since the Genesis Block on the Bitcoin network was mind.
The Bitcoin network launched on January 3rd, 2009. At the time, Bitcoin was trading at just a few cents. However, it has experienced exponential growth over the past few years, reaching an all-time high of $69,044 two months ago.
Melania’s message comes barely two weeks after she joined the nonfungible token (NFT) train. Trumpannounced that she would be launchinga Nonfungible token (NFT) platform on the Solana blockchain. The NFT platform will use MoonPay for its payment services.
Melania’s stance on cryptocurrencies differs from that of her husband, Donald Trump. Last month, the former US president stated that he believescryptocurrencies are dangerous. Instead, he favors a strong US Dollar.
Trump said,“That [crypto] could be an explosion some day the likes of which we’ve never seen. It will make the big tech explosion look like baby stuff. I think it’s a very dangerous thing.”
The leading cryptocurrency has been trading below the $50k level over the past few days. The Bitcoin network’s 13thanniversary and comments from the likes of Melania weren’t enough to push BTC’s price past the $50k barrier.
At press time, BTC is trading at $47,083, up by less than 1% over the past 24 hours.
Thisarticlewas originally posted on FX Empire
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• ASIC Miner Manufacturer Canaan Expands Its Operations in Kazakhstan || Bitcoin, ethereum and solana fall as crypto tokens sink: Bitcoin was trading near two-month lows. Photo: Getty Images (Mario Tama via Getty Images) Cryptocurrencies were down on Monday morning after bitcoins price took a battering over the weekend. Bitcoin ( BTC-USD ) was down almost 3% at the time of writing, trading at $48,143 (£36,304). Thats almost 30% down from its all-time high of $69,000, which it hit last month. Over the weekend it had fallen to about $42,000. The crypto was trading near two-month lows as a level near $42,000 was last seen in the first few sessions of October of 2021. Ethereum ( ETH-USD ) the world's second largest crypto by market cap, was down almost 5%, trading at $4,015. Solana ( SOL1-USD ), seen by many as a competitor to ethereum, was down almost 9% at the time of writing, trading at $182. This has reignited the jitters around cryptocurrencies as investors reacted negatively following the lacklustre Wall Street closing with Nasdaq falling nearly 2%, Kalkine Group CEO Kunal Sawhney told Yahoo Finance UK. Bitcoin took a beating over the weekend. Chart: Yahoo Finance UK The market-wide resurgence of COVID cases in many European nations, alongside the rapid emergence of the Omicron variant in the UK, US and certain Asia-Pacific regions have storm-tossed all conventional assets including equities, oil, currencies and fixed-income securities, said Sawhney. He said that with this renewed uncertainty in markets, investors are shifting their focus towards safe-haven assets and a contagion effect has been seen in the crypto-ecosystem. Sawhney believes any potential disruption in cross-border trade, travel, operations of businesses and other sectors contributing towards national economic output can severely impact all assets, "with cryptocurrencies set to absorb maximum heat". Meanwhile Naeem Aslam, chief market analyst at Ava Trade, said the weekends sell off was nothing short of a horror movie and crypto traders are still nervous about the massive plunge in bitcoins price. Read more: Live crypto prices The most important price level for the bitcoin price is $50K - when the price violated this support, the price action was a bloodbath, he said. Story continues But he believes the price is more stable now and for those who understand the potential of bitcoin, the plunge provided a great opportunity. In fact, for them, it was Christmas coming early. Now, in terms of the BTC price, we are focused on two important price levels. "First is the support of $40K, and traders are hoping that the price will stay above this price. As for the resistance, we need to see the price breaking above the 50K price mark and stay above this. So far, it is pretty clear that the recent sell off brought a lot of newer buyers into the market. Once the dust settles, we are likely to see more funds reporting their new positions in bitcoin. However, DeVeres group CEO Nigel Green is still bullish on solana, claiming it will outperform both bitcoin and ether "because of its masterful technology and its cost-effectiveness. "Solana is a blockchain platform that has superior high transaction speeds, processing over 2,500 transactions per second main rival ethers is 15 and at a lower cost and without compromising decentralisation," he said. This revolutionary tech will ultimately change the way almost all business and financial services are delivered in the future. As such, a growing number of decentralised finance (DeFi) applications are moving to solana."
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 36952.98, 37154.60, 41500.88, 41441.16, 42412.43, 43840.29, 44118.45, 44338.80, 43565.11, 42407.94
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-07-27]
BTC Price: 8165.01, BTC RSI: 67.95
Gold Price: 1222.60, Gold RSI: 33.09
Oil Price: 68.69, Oil RSI: 46.20
[Random Sample of News (last 60 days)]
Another Bad Quarter for Hudson's Bay Company, but the New CEO Is Taking Action: In recent years, multinational department store giantHudson's Bay(NASDAQOTH: HBAYF)has reportedconsistently bad results. In fiscal 2015, it posted an adjusted profit of just 55 million Canadian dollars -- down 43% year over year -- despite generating more than CA$11 billion of revenue.
That was a relatively good performance compared to the past two years. Annual revenue has surpassed CA$14 billion due to the company's expansion into Europe. However, Hudson's Bay posted a normalized net loss of CA$313 million in fiscal 2016 and CA$564 million in fiscal 2017.
On Tuesday, Hudson's Bay's reported another batch of weak quarterly results. But there may be a light at the end of the tunnel, as newly appointed CEO Helena Foulkes is making some of the tough decisions that she promised a few months ago.
In the first quarter of fiscal 2018, total sales rose 1% at Hudson's Bay, reaching CA$3.1 billion. However, comp sales slipped 0.7% year over year. This flattish sales performance masked some wide variations across the company's various retail banners. On the one hand, the Saks Fifth Avenue luxury chain had a strong quarter, with comp sales up 6%, while the Hudson's Bay chain in Canada notched its 31st consecutive quarter of positive comp sales.
Saks Fifth Avenue posted strong comp sales growth last quarter. Image source: Saks Fifth Avenue.
On the other hand, comp sales declined at the struggling Lord & Taylor chain, which again failed to keep up with top rivalNordstrom(NYSE: JWN). Comp sales rose 0.7% for Nordstrom's full-line business last quarter. The Saks OFF 5TH off-price chain struggled, too, with comp sales down 3.5%. (Nordstrom Rack has also had a rough time lately, but it eked out a0.4% comp sales gainin Q1.) Lastly, Hudson's Bay's European operations had another awful quarter, as comp sales plunged 6.6%.
Not surprisingly, these mediocre sales results led to poor earnings. Hudson's Bay posted a normalized net loss of CA$286 million last quarter, compared to a normalized net loss of CA$209 million a year earlier.
While Hudson's Bay's Q1 results were nothing to write home about, the silver lining for investors is that CEO Helena Foulkes has moved quickly in her first few months to fix the business. She has appointed several experienced executives to fill out her management team. Foulkes also restructured Hudson's Bay's European operations so she can have more contact with that part of the company and speed up decision-making.
An even more dramatic move came on Monday, when Hudson's Bay announced a deal to sell its loss-making Gilt subsidiary (which specializes in online flash sales) to Rue La La. Hudson's Bay acquired Gilt in 2016 for about $250 million. That may have seemed like a bargain, given that Gilt's valuation peaked at more than $1 billion. However, Hudson's Bay is now dumping the unit for "well below $100 million,"according toThe Wall Street Journal(subscription required).
Getting rid of the Gilt subsidiary seems wise. It will allow the off-price management team to focus on turning around the more promising Saks OFF 5TH business. Additionally, this move will boost the bottom line by at least CA$10 million on an annual basis.
Hudson's Bay also announced this week that it will continue shrinking the Lord & Taylor chain. The company closed two Lord & Taylor stores in April and had already announced the closure of a third store next January. (Tellingly, all three stores were located in malls that havefull-line Nordstrom stores.)
Lord & Taylor will close up to 10 stores over the next year. Image source: Author.
Hudson's Bay now plans to shutter up to 10 of the remaining 48 Lord & Taylor stores over the next year or so. This includes the Chicago-area store closure that was already announced. It also includes the Lord & Taylor flagship store in Manhattan, which was sold to a WeWork affiliate for a staggering $850 million.
The company hasn't yet made final decisions about the other stores to be closed. However, CFO Ed Record said that in aggregate, they are running slightly below breakeven. Most of these stores are in good malls, so the real estate is valuable. Closing the stores will also free up working capital.
The key to the bull case for Hudson's Bay is that its real estate is probably worth two or three times the company's enterprise value. Yet Hudson's Bay has been burning cash rapidly, andSears Holdingsprovides a cautionary tale about betting on a retailer with great real estate but persistently negative cash flow.
Indeed, in recent years, Hudson's Bay's strategy has seemed more like empire-building than an organized plan to grow earnings. This growth made the company difficult to manage -- a fatal flaw in today's fast-moving retail landscape. The result has been a string of ugly losses.
In this context, Foulkes' decision to focus on what's fixable and sell off the rest comes across like a breath of fresh air. Her strategy of simplifying the company, monetizing excess real estate, and cutting costs could finally make Hudson's Bay a winner for its long-suffering investors.
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Adam Levine-Weinbergowns shares of Nordstrom. The Motley Fool recommends Nordstrom. The Motley Fool has adisclosure policy. || This Oil Stock Is Looking to Unlock 500,000 MW of Renewable Energy: It's often referred to as the "forgotten renewable," but if the U.S. Department of Energy is correct, then geothermal energy could be poised for an epic come-from-behind victory in the race for top renewable energy source . According to the government's analysis, next-generation technology known as enhanced geothermal systems (EGS) being developed right now could open up between 100,000 megawatts and 500,000 megawatts of geothermal power potential across the United States. That's a lot of power. In fact, it's roughly equivalent to the country's total installed capacity of nuclear power at the lower end of the range and all of the nation's coal- and natural gas-fired power plants combined at the upper end. And it even could be a gross underestimation of what's actually available, since little time has been spent discovering potential sites. The bad news is the first commercial deployments may not occur until 2030. The good news is the oil and gas industry has already developed a good chunk of the technologies and supply chains required to tap into the inexhaustible renewable energy source. One energy stock is uniquely positioned to diversify its existing business. A geothermal power plant. Image source: Getty Images. Enhanced geothermal systems, explained The United States is already the world's largest producer of geothermal energy. In fact, America generates more electricity from hot rocks underground than all but six countries generate from solar power. With the country having just 3,800 megawatts of installed geothermal capacity today, though, the bar isn't very high. There's a reason geothermal energy has been slow to catch on. Three of them, actually. An economical geothermal power plant requires an underground heat source, a fluid that can carry heat, and rocks with fractures in them allowing the fluid carrying heat to travel to the surface and spin turbines, creating electricity. While there's plenty of natural underground heat across the United States, not many locations have the other two characteristics. Story continues That's where EGS comes in. In short, the idea is to develop drilling and fracking technologies that can make geothermal energy available almost anywhere. If that sounds awfully familiar to what led to the overnight rise of shale oil and gas, that's because, well, it's almost the same thing. Three people sitting at a table reviewing financial documents. Image source: Getty Images. Is this the top geothermal stock? Many of the problems facing EGS today are the same ones shale energy dealt with years ago: drilling wells, stimulating wells (keeping the fractures opened and the fluid flowing), characterizing underground reservoirs to optimize drilling and extraction techniques, and so on. That makes one oil and gas stock uniquely positioned to cash in on the opportunity of EGS: Core Laboratories (NYSE: CLB) . The analytics company specializes in modeling and characterizing oil and gas reservoirs, the fractures involved, and how fluid will flow through the fractures and back to the surface. These services are designed to optimize production (fluids flowing to the surface), extend the life of an asset, and boost the economics of extraction -- all of which are priorities for the Geothermal Technology Office at the DOE. It might not be on the radar of investors today, but that could soon change. The DOE has outlined steps to build a pilot EGS power plant of 5 megawatts by 2020, recently announced up to $14.5 million in funding available for new technology development, and wants to bring the cost of EGS down to about $0.06 per kilowatt-hour by 2030 . That would make it one of the cheapest power sources available -- and the cheapest baseload power source, besting nuclear and coal -- and should enable widespread adoption. A shale oil and gas well. Image source: Getty Images. Core Laboratories isn't overlooking the long-term opportunity. The company has quietly started an EGS segment developing the services future power plant developers will need, such as modeling fluid flows through fractures, characterizing well stability, and offering optimal extraction strategies. It might not be long before investors begin to see the company announce government grants or even industry partnerships looking to spread risk while getting a next-generation geothermal market off the ground. The good news is the business has ample cash flow and time to make small investments (or even acquisitions) that accumulate over the next decade to cash in on the opportunity represented by EGS. With American tight oil and gas production expected to grow sustainably over the next decade or two, especially as export volumes increase, Core Laboratories' financial strength might be increasing at just the right time. Consider that oil and gas drillers are now focused on returns on invested capital, not production volumes. That makes the company's unique services even more in demand. In the first quarter of 2018 , total revenue jumped 9% from the year-ago period, although its production enhancement segment saw a year-over-year increase of 34%. Management has a healthy outlook for the business for the foreseeable future, which bodes well for freeing up cash to invest in diverse new growth opportunities such as EGS. A geothermal power plant. Image source: Getty Images. Fracking might be key to a renewable future Is EGS just a renewable pipe dream? Well, put it this way: Less than two decades ago, the United States had no way of economically extracting all of the oil and gas trapped within underground shale formations. It was barely on the radar of investors. But the emergence of innovative drilling, fracking, and other technologies changed that virtually overnight -- and disrupted global energy flows in the process. While there are differences when it comes to developing economical EGS power plants, the emerging technology ecosystem has the benefit of piggybacking off innovations from the oil and gas industry. That includes critical reservoir description and production enhancement services developed by Core Laboratories, which isn't writing off the potential of next-generation geothermal. Whether the technology as a whole is on the path to commercial viability may be known in the next several years or so. If it does, then this oil and gas stock's long-term future will be a lot brighter. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Maxx Chatsko has no position in any of the stocks mentioned. The Motley Fool recommends Core Laboratories. The Motley Fool has a disclosure policy . || Robinhood Co-CEO: Sovereign nations will make crypto their default currency: Cryptocurrencies are the future.
That’s what Robinhood co-CEO Baiju Bhatt believes, so much so that sovereign nations will one day make cryptocurrencies their default currencies.
“I think it’s inevitable, whether that happens next year or in the next 15 years,” Bhatt told Yahoo Finance earlier this month at its liveAll Markets Summit: Cryptoin San Francisco.
To that end, Bhatt wants Robinhood to play a major role in the space. This January, the Menlo Park, California-based startup, which is worth $5.6 billion, rolled out Robinhood Crypto, a crypto-focused platform that currently lets users monitor and track 16 cryptocurrencies, as well as trade Bitcoin and Ethereum in 16 states. The Robinhood co-CEO declined to specify how many of Robinhood’s 4 million-plus general users also use Robinhood Crypto. He also refrained from specifying when the brokerage would allow the trading of other cryptocurrencies.
But cryptocurrencies face major headwinds before Bhatt’s vision even comes close to reality. For one, they include proving naysayers such as Jamie Dimon, Bill Gates and Warren Buffett wrong. Buffett, in particular, has called crypto “rat poison squared” that will eventually come to a “bad ending.” There’s also the matter of market volatility, which can send crypto values careering up and down from one week to the next, not to mention the sheer variety of cryptocurrencies available, from the more popular like Bitcoin to the niche, such as Potcoin. But eventually, Bhatt contends, some cryptocurrencies will eventually become an excellent, more stable store of value.
“There’s a lot of them out there, and it’s going to be clumsy,” he acknowledged, comparing the state of cryptocurrencies to the early days of the internet, which itself went through years of rapid, unregulated growth. “There are going to be a lot of things that look like they’re going to matter, and then they’re not going to matter.”
Until then? Expect the bumpy ride to continue.
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JP Mangalindan is the Chief Tech Correspondent for Yahoo Finance covering the intersection of tech and business. Email story tips and musings tojpm@oath.com. Follow him onTwitterorFacebook.
More from JP:
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• Facebook investors grill Zuckerberg: ‘Emulate George Washington, not Vladimir Putin’ || 3 Stocks Wall Street Hasn't Heard of Yet: One of the things legendary investor Peter Lynch looked for when seeking out stocks to buy was to find those that don't have a lot of attention from Wall Street. That either meant a low rate of institutional ownership, or a lack of research analysts covering them. It was his belief that superior returns could be found in these under-the-radar stocks. In the spirit of Lynch's investment principles, we asked three of our Motley Fool investors to each highlight a stock Wall Street isn't paying much attention to, but could be a great investment. Here's a brief look at their selections: WD-40 Company (NASDAQ: WDFC) , Control4 (NASDAQ: CTRL) , and VSE Corporation (NASDAQ: VSEC) . Person using a pen to point to a stock chart on a screen. Image source: Getty Images. Oh, they've heard of it, they just don't care Tyler Crowe (WD-40 Company) : WD-40 isn't anything new, the product has been around for decades and the stock has been public for more than 40 years. Despite its long-tenured time as a publicly traded company, Wall Street has barely ever paid attention to it. Only two analyst firms have active recommendations on it, and the last time the stock was upgraded or downgraded was over two years ago. Too bad for them, and all the better for those that take a look at this stock. It's an incredibly simple business. It markets and distributes its suite of cleaning and home maintenance brands. These ubiquitous products (eight of every 10 households have a WD-40 product in them) are recurring revenue in nature and have relatively high gross margins. It doesn't manufacture any of its own products (it contracts out to third-party manufacturers), so the company is asset-light and, as a result, produces incredible rates of return for its investors. Over the past decade, it has more than doubled the S&P 500 on a total return basis. Another attractive part about WD-40 is that it doesn't have to produce gaudy growth numbers to achieve a reasonable return for its investors. Management's target right now is to maintain revenue growth of 5%-9% annually while squeezing out some costs to produce a 25% EBITDA margin. Those targets alongside a steady diet of dividend increases and share repurchases should allow the company to significantly move the needle for the foreseeable future. Story continues It's hard to see why Wall Street pays no mind to WD-40. Perhaps the business is too simple, predictable, or boring to garner its attention. For a long-term investor, though, WD-40 can be a great addition to a portfolio. It's all under control Daniel Miller (Control4) : Control4 isn't well-known on Wall Street, at least not yet, and only recently went public during 2013. The company is 100% focused on the connected smart home, and as more and more households have systems that range from security, communications, remote control, and voice commands, to something as simple as lighting, solutions are needed to control everything seamlessly. That's where Control4 comes in: It offers consumers and businesses a platform solution with professional installation that can control hundreds of devices. Management estimates Control4 has only penetrated about 1.5% of its target U.S. market, leaving plenty of room for growth. That's what makes the company's recent move brilliant: certified showrooms. Control4 is launching 140 certified showrooms across the U.S., Canada, China, Australia, and the U.K., and each showroom will have ideal setups for consumers to pin down what system and solution works for them, as well as "WOW-ing," as the company puts it, potential consumers. These showrooms should drive more traffic and sales leads, and improve lead conversions. Those are factors that will help make Control4 a household name as more and more consumers need solutions for a growing number of smart devices within a home or business. It's also worth mentioning that for such a young company Control4 has excellent financials. Consider that over the trailing 12-month period through the first-quarter of 2018, the company generated $22 million in free cash flow, has $77 million in cash, and no debt. That puts the company in great position to acquire companies that can be folded into its business, expand internationally, or pursue other strategic growth projects. Wall Street hasn't heard of Control4 yet, despite its 191% stock price increase during 2017 , but look for that to change over the next decade or two, and investors along for the ride could find themselves with a huge winner. WDFC Total Return Price Chart WDFC Total Return Price . Data source: YCharts. Check out this tiny, undiscovered conglomerate Rich Smith (VSE Corporation) : It's hard to be 100% certain which stocks Wall Street has and hasn't heard of yet. Wall Street is a big place, and is teeming with analysts who may or may not have heard of any given stock. But here's one thing you can be sure of: Even if someone on Wall Street has heard of VSE Corporation, no one on Wall Street is currently paying attention to it. According to the data miners at S&P Global Market Intelligence , VSE Corporation currently has no analyst coverage whatsoever on Wall Street. I think that's their loss. (And it could be your opportunity). Based out of Alexandria, Va., VSE Corp has a market capitalization of barely half-a-billion dollars. Yet although small, it's a bona fide conglomerate providing supply chain management to the United States Postal Service, jet engine maintenance to airlines, and vehicle and airplane maintenance to the U.S. Army, Air Force, Navy, Coast Guard , and Marine Corps. Sales at VSE Corp are up 57% over the past five years, and profits are up 70% to $39 million over the past 12 months, giving VSE Corp stock a P/E ratio of only 13.9. That seems a fair price for a stock growing earnings at better than 14% annually over the past five years. Plus, VSE Corp pays its shareholders a small dividend yield of 0.6%, after recently being hiked by 14%. VSE Corp seems like a better-than-fair value to me -- even if Wall Street hasn't even heard of it yet. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Miller has no position in any of the stocks mentioned. Rich Smith has no position in any of the stocks mentioned. Tyler Crowe owns shares of WD-40. The Motley Fool owns shares of Control4. The Motley Fool has a disclosure policy . || Most Americans Have Financial Regrets: Some mistakes can be fixed, but it becomes harder the longer you wait. For example, if you need to lose 10 pounds, that's a lot easier to remedy than if you've let yourself become 100 pounds overweight.
The same logic applies to finances. More than three out of four Americans (76%) have financial regrets, according to anew studyof 1,000 adults from Student Loan Hero. That's not great, but the good news is that financial mistakes can be remedied. It might be painful, but some austerity now can make up for the money sins of your past in most cases.
You need to understand your own finances to avoid making mistakes. Image source: Getty Images.
Survey respondents were not limited to one choice, and many of the top answers were related. In a broad sense, it's clear that not saving enough and spending too much are major concerns. Some of the study's findings include:
• 46% regret not saving more money.
• 50% wish they'd saved more for retirement.
• 38% regret entertainment purchases, while 33% regret clothes purchases.
• 51% think they need to cut back on restaurants.
• 47% regret taking on credit card debt.
Only 24% of those surveyed claimed to have no financial regrets at all. Of the other 76%, the link between spending too much andsaving too littleis clear. If you regret clothing purchases or eating out at restaurants. you're probably not regretting that you didn't use the money in a different way. You're almost certainly lamenting that you didn't save the cash.
Image source:Student Loan Hero.
The first step to fixing your finances is knowing where your money goes. Do a financial inventory, and first figure out what your fixed costs are. These include housing, food, transportation, credit card debt, student or other loans, and anything else you can't change on a month-to-month basis.
After that examine your discretionary spending and see where you come out at the end of the month. Are you ahead of the game or adding to your credit card debt?
Once you know your situation, it's important to lay out your goals and set abudgetto reach them. If, for example, you want to pay off $3,000 in credit card debt in six months, then you'll need to find $500 to cut from your budget -- or a way to earn that much more.
Be realistic, and work in small bites. Don't budget for only eating cans of soup and taking in five roommates if you're not actually going to do that. Make a plan you can live with, and stick to it. That may not be a quick resolution for your problems, but it can stop you from having future regrets and eventually get you back on track.
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The Motley Fool has adisclosure policy. || QuinStreet, Ambarella, Amazon, Chevron and Mastercard as Zacks Bull and Bear of the Day: For Immediate Release
Chicago, IL – June 19, 2018 – Zacks Equity Research highlightsQuinStreetQNST as the Bull of the Day andAmbarellaAMBA as the Bear of the Day. In addition, Zacks Equity Research provides analysis onAmazonAMZN,ChevronCVX andMastercardMA.
Here is a synopsis of all five stocks:
Bull of the Day:
QuinStreetis a Zacks Rank #1 (Strong Buy) and sports a growth style score of A. That alone gets the stock on my radar screen but lately, I have been looking hunting some bears. By that, I mean I am looking for stocks that have big short positions or at least have been attacked by the shorts.
Now I don't want to get too deep into why I want to hunt the bears, let's just say that the market conditions are ripe to force squeezes. Usually, when you think of a stock under attack from the shorts you see a large short interest... something more than say 20% of the float. With QNST, you don't really have that as only 6.4% of the float is sold short and the shorts have been covering.
Short Attack
The short attack came on April 11, when Kerrisdale Capital released a report that was critical of the company. As much as I would like to go into the report and discuss which is right and wrong, the Bull of the Day article is not really about that. This and other Bull of the Day articles are about how the stock became a Zacks Rank #1 (Strong Buy).
The report can be accessed here (https://www.kerrisdalecap.com/wp-content/uploads/2018/04/QuinStreet-Inc.-QNST.pdf) and it should be noted that the company was quick to answer the concerns raised. In fact, the company guided revenues above the consensus the evening of the release of the report.
The stock was $11.58 down $0.74 just after the open on the day the short report and then closed at $10.14 down $2.18 for the day. But after the close guidance was raised with the company saying that the next quarter revenues would come in over $115M when the Wall Street consensus was at $91.1M.
The next day the stock recovered, but by April 25, the next earnings day, the stock was still below where it closed on April 10.
Recent Earnings
The April 25 earnings report saw the company top the Wall Street Estimate of $0.13 by $0.03. The company reported revenue of $117.9M when the consensus was calling for $107M.
The company also guided FY18 to growth of 30% or more, which would be at least $390M compared to the $385M estimate.
The Zacks Rank
The Zacks Rank looks at the estimate revisions from all sell-side analysts that submit estimates to the Zacks Consesnsus. The Rank gives you an idea of which estimate revisions are the best ones. Earnings are a key fundamental driver of stock prices, so knowing where the estimates are headed is key.
Let's take a look at the estimates following the recent beat.
Estimate Revisions
Following the most recent beat, the estimate for the current quarter moved from $0.10 to $0.12. That is a twenty percent move higher.
The current year estimate moved from $0.36 to $0.44 and over the last week or so kicked higher by another penny to $0.45.
The Zacks Consensus Estimate for 2019 moved from $0.48 to $0.56 over that same time horizon.
Valuation
This is where it all gets a little tough. The valuation for QNST is pretty stiff, with a 45x forward earnings multiple. The trailing multiple isn't any better with a 50x multiple. The price to book of 4.57x is above the industry average of roughly 3.3x. The price to sales multiple is 1.6x and that is well below the industry average of 2.3x.
Get Shorty
I mentioned at the start that the shorts have been covering. The most recent short interest report shows that there are 2.35M shares sold short, but the previous reading was more than 2.56M. THat 8% decrease suggests that the shorts might be giving up on this stock.
My experience is that once the shorts lock on to an idea, they tend to circle back at a later date. If QNST continues to beat the number and show solid revenue growth, the shorts will continue to help the stock move higher as they cover.
Bear of the Day:
Ambarellais the source of the tech behind the GoPro and super high definition cameras. That said, the company hasn't done that great of job of late in communicating with Wall Street. The most recent quarter was a nice beat, but guidance was below expectations and that sent estimates lower. When estimates fall, the Zacks Rank slides and today AMBA is the Bear Of THe Day.
Recent Earnings
AMBA reported Earnings of $0.13 on June 5 after the close. That was $0.04 better than the Wall Street Estimate. Revenues were down 11% from the previous year, but slightly ahead of the consensus estimate at $56.9M.
The company guided next quarter revenue to $60-$64M but that was well below the $68.18M consensus estimate and the stock suffered as a result.
Downgrades
Following the release, Oppenheimer downgraded the stock to perform from outperform noting that the company has less room for error going forward.
Several other brokers lowered price targets, with Deutsche Bank moving their number to $44 from $51. Stifel cut their target to $56 from $64 as well.
Estimates
The Zacks Rank doesn't look at price targets or recommendations. It focuses only on earnings estimate revisions and following the most recent quarter AMBA estimates really moved lower.
The current quarter saw estimates chopped in half (well a penny more than a half) as they tumbled from $0.28 to $0.13.
The current fiscal years moved from $1.43 to $0.78 and the next fiscal year moved from $2.02 to $1.34.
When estimates move lower like this, investors tend to sell the stock.
Additional content:
A Tale of Two Central Bank Groups: Global Week Ahead
There is a big conundrum wrapped up inside this Global Week Ahead.
Isn’t it provocative?
To hold ‘live ammo’ central bank meetings across the developing world — and in Brexit England — while the world’s major developed country central bank heads enjoy a summer meeting on the coast of Portugal?
The former group of countries (Brazil, Mexico, Taiwan, the Philippines, Thailand and Hungary) is under major currency stress. This is imposed, in part, by the latter’s (the ECB, the U.S. Fed and Japan’s) changing stance on its extraordinary monetary policy stimulus decisions.
Here are Reuters’ five big themes likely to dominate the thinking of investors and traders in the coming week.
I listed the underlying factors in order of importance to global equity markets.
(1) The “Submerging” Developing Markets Hold Central Bank Meetings
Brazil, Mexico, Taiwan, the Philippines, Thailand and Hungary all have central bank meetings this week.
With the U.S. dollar crashing through emerging market currencies like a wrecking ball right now, what the banks do and what they say will be important.
Reuters’ polls show they are all expected to hold their fire for now, although there is an outside chance that Mexico and the Philippines could pull surprise hikes. That means it will mostly be about the rhetoric and who might be preparing to move.
Brazil's markets are pricing 2.5 percentage points worth of hikes between now and this time next year. Mexico sees around 75 basis points. Thailand and Taiwan may point to one or two hikes later in the year, and even Hungary's central bank is expected to ditch its dovish tones in the wake of a sharp fall in the forint.
(2) A Big Developed Country Central Bank Confab Happens in Portugal
On Monday, a three-day ECB forum on central banking kicks off in Sintra, Portugal, but under a very different backdrop to last year's summit.
The ECB has warned markets it will end its bond-buying program by the end of the year, but it has also pledged to keep rates low possibly until after summer 2019. That has cheered bond and stock markets no end, but less so the euro.
Rewind to a year ago when ECB chief Mario Draghi told the folks gathered at Sintra that deflationary forces had been replaced by inflationary ones, putting markets on alert for tweaks in the ultra-loose policy.
Yet with the end of ECB QE now in sight, a taper tantrum along the lines of last year's appears to have been avoided. Italian bonds have just enjoyed their best week since September 2012. But Sintra speakers will still be listened to because any signs of a European growth setback could complicate the QE exit path. Next Friday's "flash" Eurozone PMI data for June may also provide some insight on this front.
More generally, Sintra is a big central banking shindig: alongside Draghi will be the Bank of Japan's Kuroda and the U.S. Federal Reserve's Jerome Powell. All three have had their moment in the spotlight in the past week at their central bank meetings.
But another big-name governor — the Bank of England's Mark Carney — is not scheduled to speak. His bank holds a policy meeting next Thursday, though it is not expected to change interest rates.
(3) On Thursday, U.S. Fed Bank Stress Tests Come Out
In June 2017, when U.S. banks cleared the Federal Reserve's annual stress test, their shares surged as the results unleashed a massive round of stock buybacks and dividend increases.
Don't look for the same outcome this week when the 2018 vintage is released.
The largest U.S. banks have notably underperformed their smaller, regional rivals so far in 2018, and even if some do get more cushion to increase their capital return programs, few analysts believe that will be enough to put them back in the lead.
A flattening yield curve and underwhelming loan growth are among the big culprits weighing on the performance of large banks, and that doesn't look like it's changing anytime soon.
The latest Fed data on commercial and industrial loan growth shows smaller banks holding a greater-than-4-percentage-point lead over large banks in that key lending category. Small bank C&I loan growth is up 6.7 percent year over year, while for the biggest banks it is just 2.4 percent.
And the Treasury yield curve — a key indicator of bank net interest margins — has flattened further since the Fed's latest rate hike. The spread between 2-year and 10-year Treasury yields is below 40 basis points and the narrowest in nearly 11 years.
(4) An OPEC Meeting Happens. They Review Their Production Agreement
OPEC and its oil allies meet in Vienna on Friday and Saturday this week, to review their production agreement.U.S. President Donald Trump has again been blaming the group for rising oil prices — they are up almost 60 percent over the last year — so the political pressure is on to pump more.
The big producers are divided, though. While Russia is pushing for a significant output hike, Saudi Arabia favors a modest one. Others, like Iran, Iraq and Venezuela, want no change at all.
Most oil watchers do expect an increase, however, before the end of the year. Negotiations should therefore center on the scale, timing and phasing of any output boost. Also key will be whether it is agreed by the entire group or implemented by Saudi Arabia and Russia without wider backing.
(5) Turkey Has June 24th Elections
Several things are complicating life for Turkey's Tayyip Erdogan before the June 24th elections.
Hoping to use a beefed-up presidency to tighten his grip on the economy and monetary policy, Erdogan is finding he may not win in the first round after all. What's more, the AK party could even lose its parliamentary majority.
Second, the lira is heading rapidly back to record lows despite 425 bps in interest rate rises. With the Fed propelling the dollar higher, the lira's woes might continue. Its weakness will certainly exacerbate double-digit inflation. On economic growth — which Erdogan touts as one of the triumphs of his 15-year tenure — there are warnings.
Data shows Turkish growth running at 7.4 percent, making it one of the world's fastest-growing economies. But borrowing costs have soared, with the government paying almost 16 percent for 10-year cash in local bond markets, up 500 bps since the end of 2017.
That could hint at a sharp slowdown because the growth bonanza hinges largely on credit, which is expanding around 20 percent year-on-year. Indeed, Turkey's highly indebted companies and banks may already have run into trouble. For Erdogan, a self-declared "enemy of interest rates,” it could mean accepting more rate rises and slower growth. First though, he needs to win the election — at least in the second round.
Top Zacks #1 Rank (STRONG BUY) Stocks—
(1) Amazon:It’s an $832B stock now. And the long-term Zacks VGM score is a solid F, with an F in Value.
Nobody cares about Value stocks, only chasing Momentum stocks like this higher and higher. When does that tune change?
(2) Chevron:OPEC holds a meeting in Vienna this week. This is a Zacks #1 Rank stock with a Zacks VGM score of A.
There’s an A for Growth here. That is contingent on stronger oil prices.
(3) Mastercard:It’s a $200 stock now, with a $208B market cap, due to the ongoing shift to digital transactions.
We don’t need to talk more about Bitcoin. We DO need to talk more about Mastercard and Visa.
Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Download it free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportQuinStreet, Inc. (QNST) : Free Stock Analysis ReportAmbarella, Inc. (AMBA) : Free Stock Analysis ReportChevron Corporation (CVX) : Free Stock Analysis ReportMastercard Incorporated (MA) : Free Stock Analysis ReportTo read this article on Zacks.com click here. || Bitcoin Continues Retreat Amid Falling Demand for Cryptos: Investing.com – Bitcoin continued to trade around the $6,000 mark as traders remained in wait-and-see mode amid a lack of meaningful data to determine direction.
Bitcoin fell 0.97% to $6,077.0 on the Bitfinex exchange, after hitting a session high of $6,192.7.
Bitcoin barely moved, trading in a narrow $140 range, as interest in trading the popular crypto appears to be on the wane, reducing the prospect of meaningful moves in either direction.
While there appears to be no single reason for the demise in the popular crypto, negative remarks on cryptos continue to sour sentiment.
Cryptocurrencies are highly volatile, vulnerable to fraud and may give rise to “reputational risks” for businesses that get involved with the assets, warned the the deputy governor of the Bank of England in a letter to banks, insurers and investors.
Bitcoin trading volumes on the bitfinex exchange look set to post a fourth-straight monthly decline, averaging around 644,000 contracts so far this month, that is well below the 2.3 million contracts traded at the peak in December, when bitcoin soared to a record $20,000.
Falling trading activity in bitcoin has seen the total crypto market cap continue to drop – a sign of falling demand.
The total market cap of cryptocurrencies fell to about $244 billion, at the time of writing, from $248 billion on Wednesday, as traders fled holdings of other large-cap cryptos.
Ripple XRP fell 3.03% to $0.45557 on the Poloniex exchange, while Ethereum fell 0.48% to $432.60.
Bitcoin Cash fell 4.06% to $681.00, while Litecoin fell 2.84% to $77.77.
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Positive News Not Moving Bitcoin’s Price Higher, So What Will? || Crypto Trading 101: Bull and Bear Flags (And What They Mean for Price): When it comes to making big money in trading, the trend is your friend.
But spotting the trend when it is in the nascent stage is challenging, and running along with it right up to the top is an even bigger challenge. That's because asset prices rarely see a 90-degree rally or collapse.
More often than not, trends (bullish/bearish) will pause briefly to allow traders or investors who missed the initial move (higher or lower) to join the bandwagon. If the participation increases, the asset price extends the bull or bear run, or else a trend reversal may occur.
China's Crypto Millionaires Are Using Bitcoin to Buy Real Estate Abroad
A trader can spot trend extensions with the help of bullish or bearish continuation patterns, which occur in a variety of easily identifiable shapes, some of the most popular of which are known as bull and bear flags.
A bull flag is appropriately spotted in an uptrend when the price is likely to continue upward, while the bear flag is conversely spotted in a downtrend when the price is likely to sink further.
(While the implication of the pattern is far more important than its name, the "flag" terminology derives from its visual similarity to the fabric you'd see hanging outside a government building.)
Who's In Control of Tezos? That Answer Is About to Change
Each flag pattern consists of two main components: the pole and flag.
The "pole" represents a strong impulsive move (higher/lower) and is backed by a surge in trading volume and the subsequent pause or consolidation the "flag," which looks like a falling or rising channel.
The flag pattern can be invaluable for a trader in that there are clear points of success and failure to profit or mitigate risk from. If resistance breaks in a bull flag, the trader can be confident price will continue upwards roughly the length of the pole (popularly known as measured height method).
If support of the bull flag is breached, the trader knows the pattern is invalid and continuation is unlikely. The exact opposite is the case for a bear flag.
An asset usually mimics the pole after a bull flag breakout or bear flag breakdown.
So, the target is derived as follows:
• Bull flag breakout >> Pole height added to breakout price
• Bear flag breakdown >> Pole height subtracted from breakout price
• Pole height = pole high minus pole low
The real world demonstrations of both flag types are depicted below.
The Bull Flag
• Asset: bitcoin (BTC)
• Timeframe: 6-hour chart
• Pattern: Bull flag breakout
The cryptocurrency cleared the flag resistance on Feb. 20, 2017, signaling a continuation of the rally from the $917 low of the pole and opened upside towards $1,228 (target as per measured height method, i.e. pole height ($157) added to breakout price).
Guess what, bitcoin came just $10 shy of price target on Feb. 24, 2017.
• Asset: Ethereum (ETH)
• Timeframe: 4-hour chart
• Pattern: Bear flag breakdown
In this case, ether broke the flag support on Mar. 17, 2018 suggesting continued depreciation from the $699 pole high and set scope for $463 (target as per measured height method, i.e. pole height ($133) deduced from breakdown price).
Surprise, surprise, ether was just $12 shy of reaching the exact price target on March 18, 2018.
Bull flags and bear flags can be a trader's friend in strongly trending markets, but they do not always perform as advertised. In some cases, the pattern can present a trap known as a "false breakout" when price breaches the boundary of the flag and quickly retraces.
Waiting for a candlestick to close outside of the flag tends to add credence to the breakout, and can help the trader mitigate risk.
As a trader, you would want to avoid betting or punting on an asset price if the bull flag breakout of bear flag breakout is not backed by strong volumes. A low volume move usually ends up trapping investors on the wrong side of the market.
Further, using indicators like the Relative Strength Index (RSI) to gauge scope for a rally following a breakout can help boost traders' success rates.
READ:ÂTiming the Crypto Market With RSI (A Beginner's Guide)
Trading candles image via Shutterstock
• $8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls
• Police Force Confiscates 295 Bitcoins from Criminal in UK First || Will Investors Treat McDonald's Like They Did Chipotle?: Out of an abundance of caution, McDonald's (NYSE: MCD) recently halted the sale of salads at 3,000 restaurants across 13 states, as an outbreak of cyclosporiasis sickened more than 250 people. Shares of McDonald's have seen little change since the Iowa Department of Public Health announced it was investigating the link between the illness and McDonald's salads. If the illness spreads, shareholders are likely to wonder whether the burger chain could experience the same backlash that fast-casual chain Chipotle Mexican Grill (NYSE: CMG) suffered just a few years ago. Lettuce on shelf A cyclosporiasis outbreak has been link to lettuce in McDonald's salads. Image source: McDonald's. Is history repeating itself? The food safety controversy that took down Chipotle actually started in a similar fashion. Nearly 100 customers and employees fell ill in the summer of 2015 with norovirus , a highly contagious gastrointestinal infection. Like McDonald's, shares of Chipotle Mexican Grill were largely unfazed by the initial reports. The company shut down the restaurant in question, threw out all the food, and treated the building to eradicate the virus. However, when an outbreak of E. coli cases linked to Chipotle erupted later that same year, the stock tumbled. And as subsequent outbreaks were publicized across the country, shares eventually plunged from around $750 to below $300. It's taken almost three years for Chipotle's stock to start moving higher again. The burger chain is taking a proactive stance like the Mexican food chain did, pulling the salads from the restaurants until it can find a new supplier. But will that be enough to prevent future outbreaks? Not so easily removed Iowa public health officials say the cyclospora pathogen is extremely hard to treat , because once it enters the supply chain, "There's really nothing a distributor or vendor can do" to get rid of it. Because the pathogen is not actually found at McDonald's distribution centers or restaurants, switching suppliers might not do anything if the new supplier gets lettuce from the same fields. Story continues Cyclospora comes from ingesting food or water that has been contaminated by feces. The microscopic parasite infects the small intestine and typically causes diarrhea, loss of appetite, nausea, and other flu-like symptoms. So far, McDonald's in Iowa, Illinois, Minnesota, Missouri, Nebraska, South Dakota, and Wisconsin have had customers suffer from cyclosporiasis after eating its salads. It's also removing salads from restaurants in Indiana, Kentucky, Montana, North Dakota, Ohio, and West Virginia. A key difference in cases While McDonald's takes the necessary steps to combat this problem, the hope is it won't suffer the same fate as Chipotle. After all, the latter's marketing focused on fresh and healthy ingredients. Foodborne illness outbreaks served to undermine the brand. Although McDonald's has tried to remake itself in that image by improving its food quality, the fast-food chain is still not thought of as a health-focused restaurant. Not that its customers accept getting sick from eating there, but they may be willing to cut the company some slack as long as McDonald's contains the problem. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Chipotle Mexican Grill. The Motley Fool has a disclosure policy . || Why Match Group Stock Lost 13% in May: What happened Dating app specialist Match Group (NASDAQ: MTCH) trailed the market last month, falling 13% compared to a 2% increase in the S&P 500, according to data provided by S&P Global Market Intelligence . ^SPX Chart ^SPX data by YCharts . The decline didn't do much to change the stock's broader trajectory. Match has more than doubled over the last year and is still in positive territory for 2018. So what Investors lost their cool early in the month when Facebook (NASDAQ: FB) announced plans to elbow into the dating market . The social media giant believes it has a good chance at growth here despite its late push into the industry, given that 200 million of its users list themselves as single today. A woman kissing a laptop screen. Image source: Getty Images. It's unclear what impact this move will eventually have on Match apps like Tinder, Match, and PlentyOfFish. For now, though, the company is logging impressive growth , with sales up 36% in the most recent quarter, and operating margin improving to 28% of sales from 20% a year ago. Now what Moves by competitors, even huge ones like Facebook, don't change Match's broader strategic approach. If anything, they add some urgency to its approach of increasing market share by improving its services. "We continue to deliver innovative products that customers across our portfolio of brands find valuable," CEO Mandy Ginsberg said in the days following Facebook's announcement. And in what could be a reference to the changing competitive dynamics of the industry, Ginsberg went on to say that management is confident that their upcoming product releases "will allow us to remain the clear leader in this category." Now it's up to the company to deliver on those goals. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Demitrios Kalogeropoulos owns shares of Facebook. The Motley Fool owns shares of and recommends Facebook. The Motley Fool recommends Match Group. The Motley Fool has a disclosure policy .
[Random Sample of Social Media Buzz (last 60 days)]
Join the Gemax Airdrop. Sign up and complete the following steps to recieve 8,500 GMAX Tokens. https://docs.google.com/forms/d/e/1FAIpQLSeuvD5sX1Py5GJIiIyxGURrhHjYY6_oyAYMVSroP0xheWI2jg/viewform?c=0&w=1 … #GEMAX #airdrop #bounty #BTC #freetoken #Crypto #Blockchain #tron #trx #airdrops #Token || Bitcoin (BTC) Morning Update: Why Am I So Bullish on Bitcoin?
https://steemit.com/bitcoin/@haejin/bitcoin-btc-morning-update-why-am-i-so-bullish-on-bitcoin … || I added a video to a @YouTube playlist http://youtu.be/lAW5fqkL-Fo?a How to start Bitcoin mining for beginners (SUPER EASY) - ULTIMATE GUIDE || IMT AIRDROP and Whitelisting Get 22222 IMT Token ( worth $100 ) https://docs.google.com/forms/d/e/1FAIpQLSciAEfeTKvcdM-IQc9BNgAtXt4jZNRhNBFtw4_M0knJ6upcxw/viewform … #ICO #airdrop #bounty #BTC #xrp #token #Crypto #ETH #NEO #Blockchain #ripple #trx #tron #trx #binance #crypto #airdrops #token #cryptocurrency #freetoken #mew #erc20 || Bitcoin BTC Current Price:
$7.658,310
1 Hour: 1.09 % | 24 Hours: 0.97 % | 7 Days: 2.07 %
#btc #bitcoin || “Bitcoin Miners Beware: Invalid Blocks Need Not Apply” by @StopAndDecrypt https://buff.ly/2soriW0 pic.twitter.com/E7DkPvBqeb || #Google's #bitcoin ban fits with plan
to introduce their own #cryptocurrency, #experts say
https://ind.pn/2Lhn2hP #fintech #blockchain @FrankJSchwab @sbmeunier @dinisguarda @ADCuthbertson @horstwilmespic.twitter.com/RnAxFSteY5 || Enjoy your future bank coin. BTC will replace XRP soon. || $BTC 1hr pic.twitter.com/FJ2eGo1eHF || Hold the Wall..
BTC is Forming a Table: Up-> Side way-> Down..
There are reasons behind why the price is wandering around here..
Whales are collecting.. pic.twitter.com/Nle4Q5gd1P
|
Trend: down || Prices: 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85, 7068.48, 6951.80
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-04-30]
BTC Price: 5350.73, BTC RSI: 60.86
Gold Price: 1282.80, Gold RSI: 47.32
Oil Price: 63.91, Oil RSI: 56.17
[Random Sample of News (last 60 days)]
Weekly Wrap – Corporate Earnings and the Greenback Stole the Show: It was a relatively quiet week on the economic calendar, though there was certainly enough for the markets to chew on.
The Dollar was on a tear through the week, with a shift in sentiment towards monetary policy providing support. For the week, the greenback rallied by 0.64% to hit 98 levels. Not bad when considering the fact that the Dollar Spot Index had just crawled out of sub-90 levels this time last year…
Economic data out of the Eurozone continued to disappoint, while a combination of decent earnings and positive economic data supported the Dollar revival.
The EUR was not alone, with the Aussie and Kiwi Dollar, the Loonie and the Pound all struggling through the week.
Of a total of 32 stats monitored during the week, 14 came in ahead of forecasts, with 17 coming in below forecasts. Just 1 stat was in line with forecasts over the week.
Looking at the numbers, out of the total 32 stats, 18 economic indicators reflected a deterioration from prior. Of the remaining 14, 11 economic indicators reported better figures from previous.
Through the week, there was no threat of a yield curve inversion, with yields for 10-year Treasuries ending the week at 2.50 versus 2.41% for 3-month Treasuries.
There was a narrowing, despite the economic data out of the U.S at the end of the week. In spite of the narrowing, however, the spread remained supported by the view that the FED may be able to avoid a rate cut until later in the year.
On the data front, key stats were once more skewed to the negative.
Negative stats out of the U.S included a slide in existing home sales, a larger than expected increase in initial jobless claims and a softer GDP Price index figure for the 1stquarter.
While new home sales came in well ahead of a forecasted 3% fall, a 4.5% increase in March was softer than a 5.9% jump in February.
Durable goods orders ex Transport also unexpectedly fell in March, down by 0.2%, though impressive headline figures offset any negativity on the day.
All in all, while orders were skewed to the positive, with durable goods orders jumping by 2.7% in March, the U.S GDP number failed to impress. While 3.2% was well ahead of a forecasted 2%, the figure failed to shift sentiment towards a possible rate cut later in the year. Private consumption and investment were down, supporting the IMF’s downward revision to growth for the year.
In the equity markets, the U.S majors were mixed in the week. The Dow ended the week down by 0.06%, while the S&P500 and NASDAQ gained 1.20% and 1.85% respectively.
The decline in the Dow came in spite of better than expected GDP figures and corporate earnings skewed to the upside.
Tech stocks ultimately led the NASDAQ out in front, with Amazon.com and Microsoft impressing.
Key stats through the week were limited to mortgage approval figures that had no impact on the Pound.
A lack of economic data and a lack of progress on Brexit ultimately pinned the Pound back in the week.
The Pound fell by 0.59% to $1.2916 in the week.
The FTSE100 failed to benefit from the weaker Pound, falling by 0.42% through the week.
It was a sea of red for the EUR.
In the early part of the week, Eurozone consumer confidence figures hit the EUR with a first blow. The numbers removed hope of a consumption fueled pickup in economic activity in the region.
Business sentiment figures out of Germany also reflected more doom and gloom on Tuesday.
There was nowhere for the EUR to hide and, with Eurozone economic indicators flashing red, monetary policy easing may well be on the cards…
For the week, the EUR ended the week down 0.84%, with a 0.17% gain on Friday limiting the damage.
It was a mixed week for the European equity markets. The DAX gained 0.76%, supported by 10 days of gains out of the last 11. In contrast, the CAC fell by 0.2% in the week. The EuroStoxx600 ended the week up 0.14%.
For the Loonie, a dovish Bank of Canada weighed on the Loonie mid-week. Coupled with a resurging U.S Dollar, the Loonie ended the week down 0.48%. A 0.22% gain on Friday came in spite of tumbling crude oil prices, with U.S GDP numbers leading to a pullback in the greenback.
The Japanese Yen rose by 0.04% against the Greenback on Friday to end the up 0.30% to ¥111.58.
Through the week, the Yen found plenty of support in spite of a particularly dovish BoJ. The BoJ revised downwards both growth and inflation. The bank also stated that extra low-interest rates would be maintained to 2020 at the earliest.
For the Aussie Dollar and Kiwi Dollar, it was another week in the red.
The Aussie Dollar tumbled by 1.54 %, with the Kiwi Dollar falling by 0.33%.
For the Kiwi Dollar, the previous week’s disappointing inflation figures had raised the prospects of a near-term RBNZ rate cut. Trade data released on Friday suggested that there may be a possible pause. The uncertainty led to a 0.54% rally on Friday to cut the deficit for the week.
For the Aussie Dollar, there was no cushion. Both wholesale and consumer price inflation were on the softer side. The dire consumer price figures led to the sell-off and a rise in expectations of an RBA rate cut.
There were no stats out of China to muddy the waters in the week. Corporate earnings were ultimately the key risk driver throughout the week.
Thisarticlewas originally posted on FX Empire
• GBP/USD Weekly Price Forecast – British pound breaks down
• Gold Price Futures (GC) Technical Analysis – Needs to Clear Series of Retracement Levels to Sustain Rally
• Crude Oil Price Forecast – Crude oil markets have rough Friday
• S&P 500 Price Forecast – Stock markets continue to levitate at highs
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/04/19
• Weekly Wrap – Corporate Earnings and the Greenback Stole the Show || FinCEN makes public statement on Silk Road transactor: Disclaimer: These summaries are provided for educational purposes only by Nelson Rosario and Stephen Palley . They are not legal advice. These are our opinions only, aren’t authorized by any past, present or future client or employer. Also we might change our minds. We contain multitudes. As always, Rosario summaries are “NMR” and Palley summaries are “SDP". Their guest poster Steven Middlebrook can be found on twitter at @stmdc [related id=1]In Re: Eric Powers (FinCEN №2019–01, April 18, 2019) [STM] One of the first U.S. regulators to address virtual currency was the Financial Crimes Enforcement Network (FinCEN), the division of the U.S. Department of the Treasury which oversees regulations designed to identify and impede money laundering and terrorist financing. Way back in 2013, FinCEN issued guidance setting forth its view that administrators and exchangers of convertible virtual currency were engaged in money transmission and were required to register with the agency as a money services business (MSB). MSBs have to register with FinCEN, implement a plan to prevent money laundering and file various kinds of reports with the Treasury. Shortly after the guidance was published, the Feds took down Liberty Reserve. They relied on the FinCEN guidance again in 2017 when they took action against virtual currency exchange BTC-e . Other than those matters, however, FinCEN has been content to leave the regulatory limelight to its more prolific cousin, the SEC. Until last week. On April 18th, FinCEN made public an “ assessment of civil money penalty ” (meaning a fine, but done in an administrative action by the agency and not in a criminal case filed in court) against Eric Powers for being an unregistered MSB and not having a written anti-money laundering plan and reporting suspicious transactions as required by the MSB regulations. Mr. Powers ran a peer-to-peer cryptocurrency exchange, conducting 1700 transactions over 21 months, and traded millions of dollars’ worth of bitcoin with a number of customers, including people doing business on — cue ominous music — the Silk Road. According to FinCEN, Mr. Powers was engaged in money transmission but he wasn’t following the rules. Story continues In case your mind is all full of “when is crypto a security?” and you’ve forgotten all about “when is crypto money transmission?” let’s do a quick refresher. For FinCEN purposes, money transmission is the acceptance of currency or something that substitutes for currency and the transmission of that currency or substitute to another person or location. Currency is broadly defined to include paper money, funds or other value that substitutes for money and thus includes virtual currencies that can be converted into real money. To be a money transmitter, you must both accept value and transmit that value to another person or another location. In a peer-to-peer transaction, the exchange is trading bitcoin with an individual customer and there is no “another person” to receive the currency substitute. That means for FinCEN to go after a peer-to-peer exchanger like Powers, it has to believe that he is transmitting bitcoin to “another location.” FinCEN doesn’t explain what it thinks transmitting virtual currency to another location means, but in its 2013 guidance, it did say that an exchange that accepts dollars and then transmits value to the customer’s virtual currency account is engaged in transmission to another location. And last year, in a letter to Sen. Ron Wyden , the agency stated that a developer who sells virtual currency, including in the form of ICO tokens, in exchange for dollars or other cryptocurrency, in engaged in money transmission. Those examples are interesting, but they don’t really mirror what’s going on with Powers. Nothing in regulations or the guidance makes it clear why exchanging dollars for bitcoin should be viewed as transmitting money to another location. Nothing in the enforcement action lays out which actions by Powers constitute the prohibited behavior. Until FinCEN or a court publishes a definitive philosophical explanation of where a bitcoin is located, assuming geolocation is even a meaningful attribute of a virtual currency, the law in this area is going to remain a bit murky. You didn’t really expect it to get clearer, did you? There are lots of people operating as peer-to-peer exchanges. Why did FinCEN go after this guy? Pure speculation, but the fact that lots of his customers operated on the Silk Road probably means that he was known to law enforcement and thus became a target. FinCEN also cites to Power’s “extensive cooperation” which probably explains why he’s not being prosecuted criminally. Should we expect more enforcement actions like this one? Yes. I’ll just point out that last fall FinCEN advertised to hire a Virtual Currency Enforcement Specialist . They gotta find something for that person to do. Finally, on a side note, as it seems to be the norm in virtual currency enforcement actions, FinCEN uses Powers’ internet postings — specifically statements that he could help people avoid restrictions designed to deter money laundering — against him. I refer you to Mr. Palley’s numerous prior admonitions about documenting your crimes on social media. The Block is pleased to bring you expert cryptocurrency legal analysis courtesy of Stephen Palley ( @stephendpalley ) and Nelson M. Rosario ( @nelsonmrosario ). They summarize three cryptocurrency-related cases on a weekly basis and have given The Block permission to republish their commentary and analysis in full. Part I of this week's analysis, Crypto Caselaw Minute, is above. || $185 Billion: Crypto Market Storms to 2019 High as Trump Demands ‘Rocketship’ US Fed Policy: The cryptocurrency market inches closer to $200 billion. | Source: Shutterstock A total of $38.06 billion have entered the emerging cryptocurrency economy in the past week. The cryptocurrency market cap, which combines the worth of all crypto assets in circulation, shot up towards circa $185.62 billion this Monday, up 28.58-percent from its weekly low. The surge began when dominant crypto asset bitcoin settled for a volatile upside action on April 2. The asset’s 23-percent rise provoked a similar bullish sentiment across the board. One day after the bitcoin rally, Bitcoin Cash , the seventh largest cryptocurrency, rose as much as 100-percent in a week. At the same time, Litecoin closed above its 2019’s high by surging more than 50-percent. EOS, XRP, Ethereum, Stellar and Cardano also noted double-digit percentage gains in their respective markets. BITCOIN, CRYPTOCURRENCY, BITCOIN CASH CRYPTOCURRENCY GLOBAL MARKET CAPITALIZATION HITS 2019 HIGH | SOURCE: COINMARKETCAP.COM Trump Calls for Expansionary Policy The crypto rally matched shoulders with the stock market performance in the mainstream. The S&P 500 Index last week reclaimed its January 2018 highs. Though the S&P 500 and the cryptocurrency market do not correlate directly, both the markets lately reacted to what was happening in the US economic space. S&P 500 S&P 500 INDEX RECLAIMED JANUARY 2018 HIGH | SOURCE: YAHOO FINANCE US President Donald Trump on Friday blamed the Federal Reserve for the stock market’s dismissal performance in 2018. The Fed raised interest rates four times last year, in a range between 2- and 2.25-percent, leading to investors jumping from US stocks to more comfortable fiat assets like the US dollar. But the Fed lately announced that it would pause its rate hikes in the face of global and domestic economic turmoil and demand from the US President. Read the full story on CCN.com . || Huobi Cloud Aims for 80 More Exchange Partners in Bid for Revenue Growth: Singapore-based exchange conglomerate Huobi Group has a unique growth strategy for emerging markets: partner with local entities and then split the profits 50/50.
Revealed exclusively to CoinDesk, the South African exchange HIZA will launch in May and join a cohort of 150 platforms under the Huobi Cloud umbrella, according to Huobi Group’s senior business director David Chen.
“We will help them get their trading volume up and we’ll expand our business when the market is more mature,” Chen said, adding that up to 80 like-minded partnerships are currently in the pipeline.
US Prosecutors Charge 2 Foreign Nationals Over Bitcoin Investment Scam
Recent expansion isn’t unique to Huobi, however. Global exchange giants like Binance are opening independent subsidiaries in emerging markets likeUganda, or investing in local exchanges the way Bittrex did with the South African exchangeVALR. Similar to Bittrex,Huobi Groupoffers partners like HIZA access to its global order books for prime liquidity.
Interestingly, the partnership approach allows Huobi to minimize the regulatory risks of working in under-developed markets – where banking relationships require local knowledge and repercussions for unintentional missteps remain uncertain.
“They [HIZA] own their customer data, it’s not Huobi that owns it, otherwise it would be Huobi’s responsibility,” Chen said.
He added that Huobi Group has earned $1.5 million in net profit since October 2018 from Cloud partnerships that have already gone live. One such partnership is with the Nigeria-based SaBi exchange, which facilitates roughly $100,000 worth of daily volume, according to SaBi founder Lucky Uwakwe.
Crypto Exchanges Huobi and Fisco Investigated by Japan Watchdog: Report
Chen said the aim is to have such partners processing an accumulative total of roughly $55 million in daily volume by 2020.
Uwakwe said that in Nigeria, at least, his exchange has considerable regulatory hurdles to overcome if they intend to boost volumes. That’s why, Uwakwe said, his exchange is taking a multi-pronged approach with both peer-to-peer (P2P) and over-the-counter (OTC) services.
“We are creating options to give us room in case the government decides to shut down our operations with the banks,” he said. “We want to create options for users so that they can do what is more comfortable for them.”
To be clear, none of these jurisdictions have outlawed crypto as much as they have yet to implement regulatory standards comparable with Western or even Asian markets.
“Bitcoin trading was not banned,” Nigerian lawyer Faith Obafemi told CoinDesk. “However, banks and other financial institutions were banned from investing in cryptos.”
On the other hand, HIZA founder Talha Idris told CoinDesk the South African government is starting to take a more proactive approach.
“They are seeking comments on [research] and will probably update regulations accordingly,” Idris said, speaking of local authorities. “Huobi will be helping us with all the technical aspects, especially security.”
This could turn out to be a lucrative play for Huobi Group, as a national survey byHootSuitein January 2019 found that 11 percent of South African mobile users own some cryptocurrency.
Plus, P2P exchanges likePaxfulhave already demonstrated that demand in various African markets, including Nigeria and South Africa, is growing even during broader market slumps. This is, in part, spurred by strict capital controls in each of those countries.
Speaking of local demand, SaBi’s Uwakwe added:
“We’ve got the drive. Even when there are many bans and restrictions, people find a way to get these things. When it comes to our daily volume, we actually do quite a lot.”
Johannesburg, South Africaimage via Shutterstock
• Huobi US Affiliate Launches Institutional Group for OTC Crypto Trading
• Not Just BNB: Up 120%, Huobi’s Crypto Exchange Coin Is Breaking Out || 11% of Americans Own Bitcoin, Major Awareness Increased Since 2017: 11% of theAmericanpopulation owns the majorcryptocurrencybitcoin (BTC), according to a newsurveypublished by Spencer Bogart ofventure capitalfirmBlockchain Capitalon April 30.
Blockchain Capital partner Bogart today posted the results of a newsurveyconducted by Harris Poll in order to provide analytics data on bitcoin’s demographic trends.
Conducted between April 23, 2019 and April 25, 2019, the survey included answers of 2,052 American adults and represents an expanded version of the previous demographic survey released by the firm in October 2017.
According to the survey results, the American population gained more knowledge about bitcoin in terms of six key aspects: awareness, familiarity, perception, conviction, propensity to purchase and ownership. With that, the indicators have dramatically increased in many cases since October 2017 despite the bear market of 2018 and the bull market of 2017, the survey writes.
The results outline that bitcoin is a “demographic mega-trend” led by the younger generation in the 18-34 year age range. According to the survey, awareness has become the only aspect where older demographics matched that of younger age groups. As such, the vast majority of American citizens have heard of bitcoin, regardless of age. The proportion of people who heard of bitcoin increased from 77% in October 2017 to 89% in April 2019.
Bitcoin awareness charts in fall 2017 and spring 2019. Source:Spencer Bogart’s Medium
In terms of the ownership aspect, 20% of American citizens aged 18–34 claimed to invest in bitcoin, while those aged 35–44 accounted for 11%. The 45 –54 and 55 –64 age ranges indicated an equal ownership amounting to 5%, with 2% of American retirees over 65 years claimed to hold the biggest cryptocurrency.
Bitcoin ownership charts in fall 2017 and spring 2019. Source:Spencer Bogart’s Medium
Earlier in April, another surveyfoundthat approximately 3% of American retirees own bitcoin.
• 3% of American Retirees Own Some Bitcoin, While 33% Have No Idea What Bitcoin Is: Survey
• University of Nevada, Reno Develops Driverless Vehicle Blockchain Tech With IoT Firm
• Grayscale to Launch Pro-Bitcoin Ads ‘Drop Gold’ on Social Media, Linear TV
• BitPay Partners With Refundo to Enable Taxpayers to Receive Refunds in Bitcoin || Bitcoin Climbs to Highest This Year as Volatility Recedes: (Bloomberg) -- Bitcoin advanced to the highest level of 2019, the latest milestone for cryptocurrencies as they claw back from a year that saw three-quarters of their market value wiped out. The biggest digital coin on Monday rose as much as 1.6 percent to $4,135.60, the top intraday level since Dec. 24, according to weekday trading data compiled by Bloomberg. So-called alternative coins rallied more, with Dash jumping as much as 31 percent and Monero increasing as much as 10 percent. Bitcoin is close to breaking above an intraday level set on Christmas Eve. That day marked the end of a U.S. stocks selloff, after which the S&P 500 Index started a rally that continued through March and reversed most of the fourth-quarter rout. The digital tokens comeback has been so gradual that its 30-day volatility has sunk almost to levels last seen before the 2017 cryptocurrency mania, when it bounded close to $20,000 and grabbed worldwide attention. The move upward has opened a new buying trend, according to the GTI VERA Convergence Divergence Indicator, a tool used by traders who look at price history to predict future direction. The measure suggests it could see further upside, the last buy signal was triggered, it resulted in a 17 percent rally in under two months. (Updates with technical indicator in fifth paragraph.) --With assistance from Kenneth Sexton (Global Data). To contact the reporter on this story: Todd White in Madrid at twhite2@bloomberg.net To contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, Eddie van der Walt, Dave Liedtka For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P. || Bitcoin Holds Over $5,300 as Top Altcoins See Mixed Signals: Saturday, April 20 — most of the top 20cryptocurrenciesare reporting slight gains and losses capped under 2% on the day to press time. Bitcoin (BTC) is hovering above the $5,300 mark.
Market visualization courtesy ofCoin360
Bitcoin is up about one percent on the day, trading at$5,342at press time, according toCoinMarketCap. Looking at its weekly chart, the coin is up a solid 5%.
Bitcoin 7-day price chart. Source:CoinMarketCap
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which is nearly $18.3 billion. The second-largest altcoin,XRP, has a market cap of $13.8 billion at press time.
CoinMarketCap data shows that ETH is up about half a percent over the last 24 hours. At press time, ETH is trading around $173. On the week, the coin has also seen its value increase by close to 6%.
Ether 7-day price chart. Source:CoinMarketCap
XRP is conversely down about half a percent over the last 24 hours and is currently trading at around$0.329. On the week, the coin is up a modest 1.2%.
XRP 7-day price chart. Source:CoinMarketCap
Among the top 20 cryptocurrencies by market cap, the coin reporting the most notable price action is binance coin (BNB), ranked 7th, which is up nearly 3% on the day and over 33% on the week.
At press time, thetotal market capitalizationof all cryptocurrencies is $181 billion, over four percent higher than the value it reported a week ago.
Total market capitalization seven-day chart. Source:CoinMarketCap
As Cointelegraphwrotethis week, a recent report by digital assets fund Adamant Capital claims that the crypto bear market is winding down and is in its final stage.
A recently publishedsurveyfrom Gold IRA Guide asked 1,000 American retirees over 50 years old about their thoughts on investing in bitcoin. According to the survey results, 56.7% of respondents were aware of bitcoin, but were not interested to invest, while 2.7 percent claimed that they already owned some bitcoin.
• Bitcoin Hovers Over $5,250 as Top Oil Futures See Slight Uptrend
• Bitcoin Hovers Over $5,250 as Top Cryptos See Growth
• Bitcoin Approaches $5,250, US Stocks Slightly Down
• Bitcoin Holds Near $5,100 as US Stocks Stand Still || Bitcoin Hovers Over $5,250 as Top Oil Futures See Slight Uptrend: Friday, April 19 The top 20 cryptocurrencies are reporting mixed movements on the day by press time, as bitcoin ( BTC ) hovers over the $5,250 mark. Market visualization courtesy of Coin360 Market visualization courtesy of Coin360 Bitcoin is down a fraction of a percent on the day, trading at $5,264 at press time, according to CoinMarketCap . Looking at its weekly chart, the coin is over 3.5%. Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: CoinMarketCap Ether ( ETH ) is holding onto its position as the largest altcoin by market cap, which is nearly $18.2 billion. The second-largest altcoin, Ripple ( XRP ), has a market cap of $13.9 billion at press time. CoinMarketCap data shows that ETH is up over half of a percent over the last 24 hours. At press time, ETH is trading around $173. On the week, the coin has also seen its value increase by nearly 3.5%. Ethereum 7-day price chart Ethereum 7-day price chart. Source: CoinMarketCap XRP is down nearly 2% over the last 24 hours and is currently trading at around $0.331 . On the week, the coin is up a modest 0.6%. Ripple 7-day price chart Ripple 7-day price chart. Source: CoinMarketCap Recently, Hbus, the operator of the United States -based version of major crypto exchange Huobi.com, launched three trading pairs for XRP . Among the top 20 cryptocurrencies, the coin reporting the most notable price action is binance coin ( BNB ), which is up 8.8%. As Cointelegraph reported yesterday, Binance has launched its mainnet, Binance Chain, and expects to execute the swap of its native BNB token on April 23. At press time, the total market capitalization of all cryptocurrencies is $179 billion, over 3% higher than the value it reported a week ago. Total market capitalization 24-hour chart Total market capitalization 24-hour chart. Source: CoinMarketCap In traditional markets, the United States stock market is seeing little movement so far today, with the S&P 500 up 4.58% and the Nasdaq up 0.02% at press time. The CBOE Volatility Index ( VIX ), on the other hand, has lost a solid 4.05% on the day at press time. Major oil futures and indexes are a slight uptrend today, with WTI Crude up 0.31%, Brent Crude up 0.49% and Mars US up 0.35% at press time. The OPEC Basket is also up 1% and the Canadian Crude Index has seen no price change by press time, according to OilPrices . Related Articles: Bitcoin Holds Over $5,300 as Top Altcoins See Mixed Signals Bitcoin Hovers Over $5,250 as Top Cryptos See Growth Bitcoin Approaches $5,250, US Stocks Slightly Down Bitcoin Holds Near $5,100 as US Stocks Stand Still || BTC Holds Above $5,000, Traditional Markets See Mixed Signals: Tuesday, April 9 — As majorcryptocurrenciesare trading sideways, Bitcoin (BTC) is holding above the $5,200 mark despite a minor decline in price. Meanwhile, traditionalmarketsare down asUnited Statespresident Donald Trumphas threatenedto impose $11 billion in duties onEuropeangoods.
Market visualization fromCoin360
BTC is trading sideways over $5,200 afterbreakingthe $5,300 mark yesterday. Mati Greenspan, senior market analyst at eToro, told Cointelegraph that the world’s top coin is now testing a new resistance line:
"We're now testing a new resistance line exactly at $5,350 [...] And notice we are trading well above the 200-day moving average. This was an indicator we were watching very closely as a kind of sign whether we are in a bull or a bear market."
According to the stats provided by CoinMarketCap, BTC has been steadily growing since April 2 — the day when the crypto marketsstarted showingthe first significant signs of recovery in 2019. As of press time, the market capitalization of BTC is over $91 billion, which is almost $20 billion more than it was before the surge.
Bitcoin 7-day price chart. Source:CoinMarketCap
Ethereum (ETH), currently the world’s second-largest cryptocurrency, has been up 1% at the press time, trading around $177 — a slight decline in comparison to yesterday, when itsawthe biggest gains among altcoins.
Ethereum 7-day price chart. Source:CoinMarketCap
Meanwhile, third-top altcoin Ripple (XRP) is trading sideways around $0.35, in the green at the press time. Its gap with the ETH market cap has increased, as XRP now has $14.7 billion in market cap in comparison to its competitor’s $18.8 billion.
Ripple 7-day price chart. Source:CoinMarketCap
The totalmarket capitalizationof all cryptocurrencies is hovering around $180 billion, while daily trading volume is at $55.2 billion.
7-day price market capitalization chart. Source:CoinMarketCap
As for otheraltcoins, the top 20 cryptocurrencies are also seeing mixed signals. However,EOSand Tron (TRX) prices have increased over 4 and 8%, respectively.
As Cointelegraph earlierreported, the company’s CEO, Justin Sun, firsthintedabout a possible partnership with Ethereum this weekend; later, Tronrevealedthe key phases for its DApp chain Sun Network’s deployment.
As for the industry news, a recent report from weekly crypto outlet Diarhas shownthat the trading of institutional BTC investment products have seen growth for the fourth month running. Many crypto insidersbelievethat institutional interest is key for the industry to evolve.
In the meantime, Canada's major cryptocurrency exchange,QuadrigaCX, has been officially declared bankrupt. The decision,approvedby the Nova Scotia Supreme Court, marks a new chapter in the legal process of restoring funds that were lost following the unexpected death of the co-founder.
Meanwhile, in Chinese news today, the country's National Development and Reform Commission isreportedlyconsidering completely eliminating crypto mining in the country.
The United Statesstockmarket is seeingmixed signalsat the press time, with the Dow Jones Industrial Average (DJIA) down 0.32%. At the same time, the S&P 500 (SPX) andNasdaq(NASDAQ) Composite are up 0.1 and 0.19%, respectively.
According toBloomberg, European shares gained and U.S. equity futures pared losses amid Trump’s threat to impose new trading tariffs on EU goods, ranging from aircraft parts to wine. The move comes as part of the U.S. administration’s response to the WTO’sdecisionon supporting Airbus in dispute with Boeing.
Oilprices are still holding at a five-month high. According toReuters, the prices are supported by a concern that violence in Libya could further tighten the supply. As per data provided byOilprice.com, Brent crude is trading over $71 a barrel, which is the highest price since November 2018. Meanwhile, West Texas Intermediate (WTI) crude oil is at $64.4 as of press time.
Goldprices are slightly up after hitting aone-week peakyesterday.Spot goldis up 0.8%, whilegold futuresgained 0.3% reaching $1,305 mark.
• BTC Tests $5,000 Amid 2019’s First Major Crypto Market Recovery
• BTC Hits $4,800 for the First Time in 2019, Top Crypto Markets See Double Digit Growth
• Bitcoin Briefly Breaks New $5,300 Support as Traditional Markets Grow
• Bitcoin Dips Below $5,000 as Crypto Market Trend Slightly Reverses to Red || Facebook set to hire five new blockchain staff: Facebook is stepping up its emphasis on blockchain technology by posting five blockchain job listings on LinkedIn . The social media titan now has a total of 25 job listings for blockchain specialists, with the new advert requesting a production manager , business operations manager , data scientist , software engineer , and growth product manager . Facebook CEO Mark Zuckerberg has shown a keen interest in blockchain technology since the turn of the year, discussing it at length in a video interview with Harvard Law professor Jonathan Zittrain. “A use of blockchain that I’ve been thinking about, though I haven’t figured out a way to make this work out, is around authentication and granting access to your information to different services,” he said. “So, replacing the notion of what we have with Facebook Connect with something that is truly distributed.” This year I'm hosting a series of discussions on the future of technology and society. Here's the first one with Harvard Law Professor Jonathan Zittrain.I joined his seminar and we covered topics including information fiduciaries, encryption, decentralized services, governance, fighting misinformation, different business models, privacy innovation, and future research areas.I found his ideas fascinating. We spoke for almost two hours and still only got through about a third of what we hoped to discuss. I'm looking forward to continuing this series soon and covering more topics beyond the internet. Posted by Mark Zuckerberg on Wednesday, 20 February 2019 There has also been speculation over whether Facebook will adopt its own cryptocurrency, with the New York Times reporting that “Facebook may succeed where Bitcoin has failed.” Although Zuckerberg spoke optimistically of the technology in the video interview, he has concerns about the efficiency of a distributed ledger and the high computational output. “Certainly the level of computation that Facebook is doing is really intense to do in a distributed way,” he added. Story continues “Decentralised things that are computationally intensive will be harder. They’re harder to do computation on, but eventually, maybe you have the resources to do that.” For more news, guides, and cryptocurrency analysis, click here . The post Facebook set to hire five new blockchain staff appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
現在の1ビットコインあたりの値段は567,952.1944円です。値段の取得日時はApr 12, 2019 22:06:00 UTCです #bitcoin #ビットコイン || Cotización del Bitcoin Cash: 115 90.€ | +0.09% | Kraken | 07/03/19 08:00 #BitcoinCash #Kraken #BCHEUR || Cryptocurrency will surely win the poll. Buy and Sell Crypto at @ooobtcExchange!!
#ooobtc #obx #crypto #bitcoin #ethereum #blockchain #btc #toqqn https://t.co/LcmFtRB68T || $CLSH
CLS Holdings USA Inc.'s Monthly Revenue, Exceeding USD $1,000,00.00
http://bit.ly/2YFvwHc
#ad #wsj #nytimes #reuters #bloomberg #thestreet #forbes #nasdaq #IHub_StockPosts #newyork #business #cnn #bet #foxnews #bitcoin #blockchain #crypto #cannabis #marijuana #CBDpic.twitter.com/ctxriwy32U || 2019/04/22 04:00
BTC 587638円
ETH 18847.5円
ETC 649.3円
BCH 31744.9円
XRP 35.7円
XEM 6.9円
LSK 220.5円
MONA 114円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || Order your secure and smart BTC/ETH/Altcoin hardware wallet - Only 94.80 EUR https://www.ledgerwallet.com/r/4518?path=/products/ledger-nano-s … #bitcoin #btc #eth #altcoin 00:20 pic.twitter.com/bJL54KPNlZ || 2019/04/17 02:00
#Binance 格安コイン
1位 #BTT 0.00000014 BTC(0.08円)
2位 #NPXS 0.00000014 BTC(0.08円)
3位 #DENT 0.00000016 BTC(0.09円)
4位 #BCN 0.00000022 BTC(0.12円)
5位 #HOT 0.00000026 BTC(0.15円)
#仮想通貨 #アルトコイン #草コイン || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : -1.37 % || 09-03-2019 18:00
Price in #USD : 0.052051671 || Price in #EUR : 0.0463311924
New Price in #Bitcoin #BTC : 0.00001313 || #Coin Rank 726 || Rising #Bitcoin Hash Rate shows increasing optimism among $BTC Investors.
https://t.co/j6U94Ep8Sf || Serbest #Piyasa
Tarih: 09-03-2019 00:16:50
Dolar: ₺5.4454
Euro: ₺6.1199
Gram Altın: ₺227.6437
Çeyrek Altın: ₺372.2099
Yarım Altın: ₺744.4199
Tam Altın: ₺1484.280
Bitcoin: $3962.6000
#dolar #usdtry #tryusd #gold #gautry #xautry #euro #altın #btc #bitcoin
|
Trend: up || Prices: 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53, 6378.85
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-07-20]
BTC Price: 7354.13, BTC RSI: 64.38
Gold Price: 1229.50, Gold RSI: 32.73
Oil Price: 70.46, Oil RSI: 51.67
[Random Sample of News (last 60 days)]
The Week Ahead – Geo-Politics to Continue Driving Risk Sentiment: On the Macro For the Dollar , key stats include May business inventory, June retail sales and July NY State manufacturing numbers on Monday, industrial production numbers on Tuesday, housing sector stats on Wednesday and July’s Philly FED manufacturing PMI and weekly jobless claims on Thursday. While focus will be on the retail sales numbers, rising inflationary pressures expected to test consumer spending, the markets will also be looking for any signs of softer private sector PMI numbers as the trade war goes on. The Dollar Spot Index ended the week up 0.76% at $94.677. For the EUR , It’s a relatively quiet week on the data front, with key stats limited to the Eurozone’s May trade figures on Monday, finalized June inflation numbers out of Italy on Tuesday, the Eurozone’s finalized June inflation figures on Wednesday and wholesale inflation figures out of Germany on Friday. The Eurozone’s inflation numbers will be the key driver from a data perspective, though direction will likely be hinged on trade war chatter. The EUR/USD ended the week down 0.52% to $1.1685. For the Pound , key stats through the week are on the heavier side and likely to have a material bearing on the BoE’s August MPC meeting. Employment and wage growth figures on Tuesday. June inflation numbers on Wednesday and June retail sales figures on Thursday will be in focus. Stable labour market conditions, an uptick in inflation and another solid set of retail sales numbers off the back of 2018 world cup fever could be enough for Carney and the team. Outside the data, noise from number 10 will need to be considered, any threat of a General Election likely to cause the BoE to hit the pause button. The GBP/USD ended the week down 0.46% to $1.3222 last week. For the Loonie , economic data through the week includes May manufacturing sales figures due out on Tuesday and the more influential May retail sales and June inflation figures on Friday. In spite of the possible impact of an extended trade war on the Canadian and global economy, the BoC brushed aside the threats in its July policy meeting last week, raising the impact of key economic indicators on the outlook for BoC policy. Solid numbers could see the Loonie back at C$1.29 levels, particularly if trade war jitters ease. The Loonie ended the week down 0.58% to C$1.316 against the U.S Dollar. Story continues Out of Asia , it’s a relatively busy week ahead. For the Aussie Dollar , stats through the week are on the lighter side, with the markets needing to look ahead to Thursday’s employment numbers for direction, though Monday’s economic data out of China will certainly be of influence, as will any trade war chatter. Outside of the data, the RBA meeting minutes on Tuesday will also be in focus, though we don’t expect any major surprises. The AUD/USD ended the week down 0.08% to $0.7424. For the Japanese yen , it’s another relatively quiet week, with key stats through the week limited to June trade figures that are scheduled for release on Thursday and June inflation figures on Friday. The Yen has taken a tumble of late, with U.S Treasuries becoming the go to safe haven during the current trade war, with the Japanese economy also at risk should Trump divert some focus to Japan’s multinationals. June’s stats are unlikely to shift sentiment towards BoJ policy near-term to provide the Yen with any material near-term support. The Japanese Yen ended the week down 1.73% to ¥112.38 against the U.S Dollar. For the Kiwi Dollar , stats are limited to 2 nd quarter inflation figures that are due out on Tuesday. Following the dovish tones of the RBNZ at the June policy meeting, any uptick in the rate of inflation would certainly give the Kiwi Dollar a boost, though market sentiment towards the ongoing trade war will likely remain the key driver near-term. The Kiwi Dollar ended the week down 1.10%% to $0.6753. Out of China , key stats through the week include 2 nd quarter GDP numbers, June fixed asset, industrial production and retail sales figures all of which are due out on Monday. With market concerns over a possible slowdown in the Chinese economy through the 2 nd half of the year doing its rounds, we can expect the stats to have a material impact on risk appetite at the start of the week, though any hints of an agreeable end to the U.S – China trade war may offset the effects of any soft numbers. Suggested Articles Dollar Boosted by Robust Inflation Reports, Pressured by Consumer Confidence Weakness Trump’s Trade War: The Good, the Bad and the Ugly Erdogan’s Biggest War is Inflation: The Turkish Lira in a Free Fall Geo-Politics On the political front, the markets are far from free from geo-political risk… U.S – Russia Summit : Monday, 16 th July could be a horror show for NATO members and Europe in general, the U.S President continuing to rock the boat and this boat is a big one to rock. Main areas of focus will include: Election interference; nuclear arsenals; sanctions; the Middle East, Iran and Syria in particular; and possibly Crimea though it may just boil down to how chummy they appear, from a global financial market perspective. The timing of the Summit may or not coincident following Mueller’s indictment of 12 Russians suspected of meddling in the Presidential Election. Loonie Woes : The Bank of Canada brushed aside any concerns that an extended trade war could impact monetary policy, though the BoC was also clear that the rate path would be dependent upon economic data. So, if we see the trade war become prolonged and more hostile, the BoC may ultimately have to stand pat and that could see the Loonie back at C$1.33 levels. We could see NAFTA negotiations make progress however and that can only be a good thing for the Loonie. U.S – China Trade War : The threat of more may not have stopped, but news of a possible return to the negotiating table will have given hope that a full scale trade war can be averted. News in the coming week will no doubt reinforce or quash such prospects, with both sides capable of taking further retaliatory steps that could see the markets balk once more, U.S Treasuries seemingly most in demand, which has pinned back the Dollar, with FED’s rate path to policy normalization adding to the shift in demand during periods of heighted market stress. U.S – North Korea Summit : No news is good news and, while Trump was tweeting a ‘nice’ letter from the North Korean leader, things could go sideways at any juncture. With the global financial markets currently super sensitive to any risk off events, any negative chatter could send the markets into a spin. Iran : It’s all a little quiet on the nuclear agreement and sanctions front. A cut back in output from Iran is already priced in, so any shift in sentiment could have a material impact on crude oil prices. Brexit : The good news is Trump’s flip flop on the prospects of a trade agreement in the event of a soft Brexit, the bad news is that it may not be the Tory Party negotiating it. While we can expect the EU and the British government to continue with their current approaches, things may become trickier for Theresa May, who continues to fail to get the Conservative Party aligned. Any hint of a possible ousting and expect the Pound to tank. The Rest On the monetary policy front , For the Aussie Dollar , the RBA meeting minutes scheduled for release on Tuesday will provide further clues on what’s needed for the RBA to move out of its holding pattern, though there are unlikely to be too many surprises, if any, this time around. For the Greenback , while we expect FOMC members to give their views on possible effects of the ongoing trade war on the U.S economy and FED monetary policy, FED Chair Powell will be giving his semi-annual testimony to Congress on Tuesday and Wednesday. The general view is that the ongoing trade war will have a muted impact on growth, with the FED still looking at between 1-2 rate hikes for the rest of the year. With the FED Semiannual Monetary Policy Report already out, it’s going to boil down to the Q&A on whether there will be some volatility in the Dollar and the equity markets, some members of the Committee likely to question the view that the ongoing trade war will have limited to no impact on policy. This article was originally posted on FX Empire More From FXEMPIRE: Asia: Taking Over the World Economy with Blockchain E-mini Dow Jones Industrial Average (YM) Futures Analysis – Strengthens Over 25072, Weakens Under 24825 Crude Oil Price Update – Trade Through $68.09 Shifts Momentum to Downside EUR/USD Forex Technical Analysis – Bullish Over 1.1680, Bearish Under 1.1675 Bitcoin Cash, Litecoin and Ripple Daily Analysis – 15/07/18 The Week Ahead – Geo-Politics to Continue Driving Risk Sentiment || Why Hertz Global Holdings, Sibanye-Stillwater, and Achaogen Slumped Today: Tuesday saw a quieter session on Wall Street than Monday, with most major benchmarks modestly increasing to recover some of the ground lost in yesterday's sell-off. Bullish investors are focusing on the likelihood of continued sharp gains when companies report their second-quarter earning in the next month, believing that those results could spur another push higher for stocks. Yet some companies had bad news that sent their shares lower. Hertz Global Holdings (NYSE: HTZ) , Sibanye-Stillwater (NYSE: SBGL) , and Achaogen (NASDAQ: AKAO) were among the worst performers on the day. Here's why they did so poorly. Hertz could see more pressure Shares of Hertz Global Holdings dropped nearly 12% on a bad day for the rental car industry generally. Analysts at Morgan Stanley gave downbeat assessments of both Hertz and its primary rival, noting that they think it'll be tough for the companies to gain enough pricing power to be able to outpace the depreciation expenses they have to take on their vehicle fleets. Competitive pressures from ride-sharing and other alternatives to rental cars are also weighing on Hertz's prospects. Morgan Stanley did boost its price target on the stock by $2 to $15 per share, but it kept an underperform rating on Hertz. Moreover, the new target is still well below where Hertz closed on the day even after today's decline. Customer getting a document from an employee behind the counter, with a Hertz logo behind them. Image source: Hertz Global Holdings. Sibanye-Stillwater deals with safety issues Sibanye-Stillwater stock fell 11% after the company suffered yet another fatal mining accident. The latest incident occurred at Sibanye's Khomanani mine west of Johannesburg in South Africa, with a worker dying while night-shift cleaning operations were ongoing. Sibanye's safety record has been horrible recently, and South Africa's parliament has suggested that the company should be put under strict regulatory oversight pending a review of whether it should keep its operating license. With the company responsible for nearly half of all mining deaths since early this year, Sibanye needs to work quickly to restore its reputation to whatever extent it can. Story continues Achaogen suffers a setback Finally, shares of Achaogen plunged 20%. The biotech company announced that the U.S. Food and Drug Administration had given a split decision on a key candidate drug. Achaogen said that the FDA had approved its Zemdri antibiotic treatment for urinary tract infections, with CEO Blake Wise pointing to the decision as "an important step in our commitment to fighting [multidrug resistant] bacteria." Yet the FDA rejected an indication for Zemdri in treating bloodstream infections, arguing that Achaogen's evidence didn't show enough effectiveness in treatment. Investors weren't happy with the mixed performance , even though the company will go back to the FDA to see if it can address the agency's concerns. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || What Happened in the Stock Market Today: The major benchmarks closed mixed on Thursday, with the Dow Jones Industrial Average (DJINDICES: ^DJI) losing a little ground, but the S&P 500 (SNPINDEX: ^GSPC) up a quarter percentage point. Today's stock market Index Percentage Change Point Change Dow (0.10%) (25.89) S&P 500 0.25% 6.86 Data source: Yahoo! Finance. Long-term bonds rose, hurting financial stocks and giving a boost to utilities. The Financial Select Sector SPDR ETF (NYSEMKT: XLF) declined 0.9%, while the Utilities Select SPDR ETF (NYSEMKT: XLU) added 1.2%. As for individual stocks, Etsy (NASDAQ: ETSY) made a huge jump after announcing a fee increase for sellers, and The Michaels Companies (NASDAQ: MIK) fell on weak guidance. Men and women in suits, standing and walking in front of a display of stock prices. Image source: Getty Images. Etsy crafts a fee increase Shares of online craft marketplace Etsy soared 26.3% after the company announced it was increasing seller fees and using the additional revenue to fund investments in marketing, product support, and product innovation. The company also announced new add-on seller services and raised its revenue guidance for the year. Starting July 16, Etsy will raise its transaction fees for sellers from 3.5% to 5%, and the fee will apply to both the selling price and the shipping cost, rather than to the price alone, as it does today. The company also announced Etsy Plus, which will be available next month and will provide an expanded set of selling tools for $10 a month, increasing to $20 in January 2019. Etsy Premium, an advanced set of tools for larger businesses with employees, will be available next year for a yet-to-be-determined price. As a result of the changes, Etsy hiked its guidance for full-year revenue growth from 22%-24% to 32%-34%. "We plan to increase our 2017 direct marketing spend by at least 40% in 2018, revamp our Etsy community platforms, and execute against an exciting product roadmap," said CFO Rachel Glaser in the press release. "We believe all of this will help drive near-term growth and increase buyer lifetime value." Story continues While the fee hike may be tough to swallow for some sellers, Etsy is convinced that the investments will drive more business to its sellers in the long term, and investors clearly believed that today's announcement will be another positive step in the company's turnaround . Michaels delivers, but gives disappointing guidance Arts and crafts retailer Michaels reported first-quarter results that beat its guidance and investor expectations, but gave a disappointing profit outlook for the next quarter, and investors sent the stock down 14% . Revenue was roughly flat with the quarter a year earlier at $1.16 billion, and adjusted earnings per share came in at $0.39, $0.01 ahead of last year. The top end of the company's guidance was for EPS of $0.38 on sales of $1.15 billion. Comparable-store sales were flat on a constant currency basis, as the company saw an increase in average ticket offset by a decrease in customer transactions. Net income, aside from a $47.5 million restructuring charge due to the closing of its Aaron Brothers stores and some other one-time items, fell 1.8% to $70.9 million. Gross margin dropped to 39.5% compared with 40.4% in Q1 last year, largely due to distribution center expenses and higher transportation costs. Looking forward, Michaels guided to Q2 EPS of $0.12 to $0.14, far below the $0.19 Wall Street was expecting for what is typically the company's most sluggish quarter. Michaels maintained earlier full-year guidance for EPS between $2.19 and $2.32 on sales between $5.217 billion and $5.293 billion. The stock price had run up over 19% this month, apparently in anticipation of a better outlook on the year ahead . When that didn't materialize, shares gave up most of those gains today. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jim Crumly owns shares of The Michaels Companies. The Motley Fool recommends Etsy. The Motley Fool has a disclosure policy . || Microsoft Is Revamping Its Mobile News Offerings Now, Too: Software giantMicrosoft(NASDAQ: MSFT)has been loosely in the news industry for decades, starting with MSN but also with MSNBC, a joint venture with NBC. The software giant sold its stake in MSNBC back in 2012 for an estimated $300 million, but still maintains and operates MSN. There's also a news section for Bing, Microsoft's search engine. But the news industry has transformed quite a bit over the years, particularly in the concurrent eras of mobile computing and fake news.
The company has just announced Microsoft News, a revamped news platform that will span mobile devices as well as traditional desktop sites.
Microsoft's team of human news editors in Delhi. Image source: Microsoft.
Microsoft had originally released an iOS news app back in 2016, but the company is now releasing a redesigned version of it. If that general order of events sounds vaguely familiar, that could be becauseAlphabet(NASDAQ: GOOG)(NASDAQ: GOOGL)subsidiary Google just similarly launched a redesigned version of its own Google News mobile app last month, one that leverages artificial intelligence (AI) to a much greater degree in order to curate, personalize, and vet news.
Under the hood, Microsoft News is also what the company is calling the back-end news engine that will power the mobile apps as well as MSN.com, the News app for Windows 10, and other apps and services that deliver news in other ways. Microsoft will be utilizing a combination of AI, human editors, and publishing partnerships, the same way it's always curated news content. (The Motley Fool has a publishing partnership with MSN.)
This all comes asApple(NASDAQ: AAPL)is preparing to takeApple News to the next level in iOS 12, incorporating the service across other apps and services while redesigning the interface and bringing it to the Mac. Apple is taking news curation and distribution very seriously, presumably ahead of its rumoredlaunch of a premium news subscription.
Each tech company is taking a different approach regarding the level of AI and automation being incorporated into their respective offerings. Apple and Microsoft use teams of human editors in conjunction with AI in an effort to have safeguards against algorithmically distributed misinformation. It's not clear how large Apple's team is, but Microsoft says it has over 800 editors all over the world.
That's in stark contrast to Google News, which will not use human editors at all, nor will Google News have partnerships with publishers. That's potentially dangerous, and it clearly worked out horrendously forFacebook(NASDAQ: FB). Facebook faced controversy in 2016 over allegations that itshuman editors for the Trending sectionsuppressed conservative views. Within just a couple months, Facebook fired all of its human editors (who were third-party contractors instead of full-time employees) in favor of the almighty algorithm. We all know what happened next: Fake newsimmediatelystarted to spread like wildfire on the service, and the rest is scandalous history.
Google's decision to use solely AI to curate and distribute news is especially strange considering the fact that YouTube has also been criticized for enabling the distribution of misinformation. Ironically, Google's response there has been to increase the level of human oversight on the popular video-sharing platform.
It doesn't seem as if Microsoft is trying to put together a subscription-based service like Apple is, but it also already has a much more mature news operation already in place. Now the company wants to help make a difference. Microsoft and Apple are taking a stronger stance in the fight against fake news, with the former having the most experience in the news business. Hopefully, the software giant can make a difference.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft.Evan Niu, CFAowns shares of Apple and Facebook. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Apple, and Facebook. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. || Big Oil Scores Victory Against California Climate Change Lawsuit: A California court ruled in favor of the nations top oil companies on Monday, dismissing a lawsuit that held them responsible for the effects of global climate change. Last year, the cities of San Francisco and Oakland sued Corporation, Corporation, , Royal Dutch Shell Plc, and BP Plc for an abatement fund that would help to aid cities affected by flooding allegedly caused by climate change . The U.S. District Court for the Northern District of California granted Chevrons motion to dismiss the suit, however, stating that "the scope of plaintiffs' theory is breathtaking. It would reach the sale of fossil fuels anywhere in the world, including all past and otherwise lawful sales," according to a statement released by Chevron. Chevron noted that similar claims of the production and sale of oil and gas being a public nuisance that produces harmful greenhouse gas emissions had been rejected in courts across the country. The company also stated that it had filed motions to dismiss such cases in other U.S. cities and counties, including in New York City and King County, Washington, although it does support meaningful efforts to address climate change and accepts internationally recognized climate science. "Reliable, affordable energy is not a public nuisance but a public necessity," said R. Hewitt Pate, Chevron's vice president and general counsel. "Tackling the difficult international policy issues of climate change requires honest and constructive discussion. Using lawsuits to vilify the men and women who provide the energy we all need is neither honest nor constructive." See original article on Fortune.com More from Fortune.com Trump Thinks Propping Up Failing Coal Is a 'National Security' Emergency Nest Is Giving Away 1 Million Thermostats to Low-Income Households Mining a Bitcoin Costs About as Much as Buying One These Days Tesla Built the World's Biggest Battery. Now This Billionaire Has Plans to Beat It How a Mysterious Case of 'Missing Energy' Caused Europe's Clocks to Run 6 Minutes Slow || 3 Tech Stocks That Doubled in a Year: The S&P 500 climbed 13% over the past 12 months despite ongoing concerns about rising interest rates and trade wars, and several tech stocks crushed the market with triple-digit gains. Today we'll take a closer look at three of those high-growth winners:Baozun(NASDAQ: BZUN),Autohome(NYSE: ATHM), andMatch Group(NASDAQ: MTCH).
Image source: Getty Images.
Shares of Chinese e-commerce services provider Baozun rallied more than 120% over the past 12 months. The company provides retailers with digital storefronts bundled with marketing, customer, fulfillment, and IT services, making it a "one-stop shop" for bringing businesses online in China's bustling e-commerce market. It serves a wide range of clients, from small businesses to multinational giants likeNike.
The bears once claimed that Baozun would be rendered obsolete ifAlibabaorJD.com, the two top e-commerce players in China, launched similar services for their marketplaces. But today, Alibaba, JD, and many other e-commerce websites integrate Baozun's platform into their marketplaces.
Baozun's revenue rose 22% as its non-GAAP net income surged 121%. On a GAAP basis, earnings climbed 141%. The company attributes that growth to rising transactions at its clients' stores, an expanding number of brand partners, and its ability to cross-sell new services.
Analysts expect Baozun's revenue and non-GAAP earnings to grow 27% and 68%, respectively, this year. Those are impressive growth rates, but the stock isn't cheap at 46 times this year's earnings.
Another Chinese internet company, Autohome, rallied about 125% over the past 12 months. Autohome's websites provide auto-related news, reviews, and prices for cars, while its Autohome Mall platform connects buyers to dealers. The company is expanding that offering with a cloud-based platform for over 35,000 used car dealers.
Autohome's only meaningful competitor isBitauto,which generateshigher revenue growth but softer earnings growth. Bitauto is notably backed byTencentand JD, whichfrequently co-investin tech and retail companies.
Autohome's revenue rose 4% last year, mostly supported by a 34% jump in revenues from its media and leads generation services. Its non-GAAP net income climbed 53%, while its GAAP net income grew 63%. The company recently shuttered its unprofitable direct sales business and switched over to theASC 606accounting standard, both of which will slightly throttle its reported revenue growth this year.
Image source: Getty Images.
Nonetheless, analysts still expect Autohome's revenue and non-GAAP earnings to climb 14% and 21%, respectively, this year. The stock currently trades at 29 times this year's earnings, which seems slightly pricey relative to its earnings growth potential.
Match Group's stock also easily crushed the market with a 125% gain over the past 12 months. Match owns several well-known dating apps, including Match, Tinder, OKCupid, and Plenty of Fish, and generates revenues from display ads and paid subscriptions. Its total paid subscribers grew 26% annually to 7.4 million last quarter, with Tinder's premium members accounting for 3.5 million of that total.
Match, which was spun off by internet media companyIACin 2015, is the 800-pound gorilla of online dating. However,Facebook's recent introduction of a dating feature caused many investors to question the width of Match's moat. Match subsequentlystruck backby launching a new "gamified" dating app called Crown, acquiring a stake in NYC-based dating app Hinge, and introducing new interest-based features for Tinder.
Match's revenue rose 19% last year, but its adjusted earnings dipped 19% due to tax reform-related charges. Wall Street expects its revenue to rise 27% this year as its earnings rebound 106% from that temporary dip. That's a solid growth rate for a stock that trades at just 29 times this year's earnings, but analysts expect its earnings growth to decelerate to 19% next year.
Baozun, Autohome, and Match have been kind to investors, but past gains never guarantee future returns. Baozun is still a good growth stock at these prices, but I'd be more cautious about Autohome due to the threat of slowing auto sales and tariffs; and Match, which needs to hold its ground against Facebook's latest moves.
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Leo Sunowns shares of JD.com and Tencent Holdings. The Motley Fool owns shares of and recommends Baozun, Facebook, JD.com, Nike, and Tencent Holdings. The Motley Fool recommends Match Group. The Motley Fool has adisclosure policy. || Clorox Stock and Its 41-Year Track Record of Dividend Growth: Clorox (NYSE: CLX) has managed to increase its dividend every year since 1977, and this past February, the company upped it again. The consistent payout increases have made Clorox a dividend aristocrat and an important part of many income investors' portfolios. Dividend-payers tend to fare well during economic downturns and volatile markets, making them a perfect companion for long-term investing. And Clorox management is focused on shareholder returns. As CFO Steve Robs said, "Consistent with our disciplined approach to cash allocation, shareholders remain a priority, and we're pleased to be in a position to continue to return excess cash to them." Clorox Brands SOURCE: THE CLOROX COMPANY. How does Clorox compare to its peers? With a current yield of approximately 3%, Clorox fares well compared to its rivals in the consumer goods industry, including Church & Dwight , Colgate-Palmolive , and Kimberly Clark . Of course, when it comes to evaluating dividend stocks, we don't just look at the yield, which only tells one part of the story. What we want to consider is the dividend payout ratio, which measures the sustainability of the dividend relative to a company's earnings. Ticker Annual Dividend per Share Dividend Yield Earnings per Share (TTM) Payout Ratio Colgate-Palmolive $1.68 2.7% $2.36 71% Clorox $3.84 3.3% $6.12 63% Church & Dwight $0.87 1.8% $3.03 29% Kimberly Clark $4.00 3.9% $5.10 78% Data source: S&P Capital IQ. Table by author. Clorox has a payout ratio of 63%, which means that around two-thirds of its earnings are paid out as dividends. For a mature company, it's a balancing act between generating growth through reinvestment and returning cash to shareholders. This directly ties into its long-term 2020 financial strategy which aims to deliver up to 5% top-line growth and generate free cash flow of between 11% and 13% as a percentage of sales. A strong focus on free cash flow is a good sign that the company is keeping tabs on its dividend strategy. Clorox also recently announced a new share repurchase program of up to $2 billion, which is aimed at further increasing the total shareholder return. Story continues A track record of market outperformance? While the company has increased its dividend every year for over four decades and delivered quarterly increases of about 5% since 2015, when we look at the overall shareholder return (which also takes price appreciation into account), Clorox is currently underperforming the market. The company is not alone in this position, as the entire consumer goods sector is struggling from cost pressures and other headwinds. Clorox Chareholder Return Source: The Clorox Company. Chart by author. What does this mean going forward? There's little doubt the dividend is safe, and if you're diversifying your portfolio with consumer goods companies, Clorox should not be overlooked by long-term investors. Its yield compares favorably to peers and easily tops the broad market. But as a leader in an industry going through major changes, the real challenges for investors to consider are its ability to manage rising costs, connect with consumers, and target the right categories (both organically or with acquisitions ). More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Aksana Fitzpatrick has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Political Crisis Upends Italy ETFs: This article was originally published on ETFTrends.com. Italian markets and country-specific exchange traded funds plunged Tuesday as the prospect of new elections fueled speculation of the potential rise of an anti-euro zone faction. On Tuesday, the iShares MSCI Italy Capped ETF ( EWI ) declined 6.3%% and Franklin FTSE Italy ETF ( FLIY ) decreased 5.8%. Fueling the anxiety in the Italian markets, six-month Italian debt, which sold for a negative yield as recently as April, now drew a yield of 1.213% on lackluster demand from investors while two-year bonds, which came with a negative yield as recently as two weeks ago, traded at a 2.69% yield, the Wall Street Journal reports. The sudden distaste for Italian assets intensified on worries that the Eurozone's third largest state could exit the bloc and may even trigger further breakdown in the euro currency union. Stay Away From Italy “Given recent developments, it seems unlikely we will have better visibility in the coming months, particularly if new elections are in the pipeline. As a consequence, we would expect international investors to stay on the sidelines at least until the political turmoil cools,” SocGen strategists said, reiterating their underweight stance on Italian stocks, according to MarketWatch . All of the speculation may be traced back to Italian President Sergio Mattarella's decision to block the formation of a euroskeptic coalition government formed of the antiestablishment 5 Star Movement and the League parties, fueling concerns of a new elections, which could strengthen anti-euro zone forces. “It’s not clear what the ECB can do. It’s not really a liquidity issue, it’s not a confidence issue in the same way as 2012 was,” Kit Juckes, chief foreign exchange strategist at Société Générale, told the WSJ. “This is about a country where the parties rising fastest in the polls might just not be keen on being in the euro.” For more information on global markets, visit our global ETFs category . Story continues POPULAR ARTICLES FROM ETFTRENDS.COM Bitcoin Still in a Vulnerable Spot? Almost Half of U.S. Cannot Cover a $400 Unexpected Expense Why You Should Consider Consumer Staples ETFs This Country Doesn’t Consider Crypto to be Real Money A Powerful Catalyst Grows the Marijuana ETF READ MORE AT ETFTRENDS.COM > || 5 Top Stocks to Buy in June: The official start of summer is just a few weeks away. While you may have plans to take it easy, money invested in the stock market doesn't take vacations. It keeps compounding , month after month, year after year. There are ups and downs, of course, but over the long run, there's no better place to put your hard-earned cash. What stocks should you invest in? Five of our Motley Fool investors have some ideas. Here's why you should consider adding Gilead Sciences (NASDAQ: GILD) , International Business Machines (NYSE: IBM) , 3M Company (NYSE: MMM) , SodaStream International (NASDAQ: SODA) , and SolarEdge Technologies (NASDAQ: SEDG) to your portfolio in June. A cocktail drink with fresh lime and mint leaves next to sunglasses on a table, with a beach in the background. Image source: Getty Images. A top turnaround candidate Keith Speights (Gilead Sciences): There's no way to sugarcoat Gilead Sciences' problems over the last three years. The big biotech stock lost nearly half of its market cap during the period due to plunging sales for its hepatitis C virus (HCV) drugs. However, I think Gilead is now poised to be a top turnaround candidate. One key reason why is that HCV sales should stabilize soon. The HCV market has come down to a one-on-one battle between Gilead and AbbVie . That should provide a setting for price stabilization. Gilead expects the numbers of new hepatitis C patients to continue to decline, but more slowly than in recent years. With HCV less of a drug for Gilead, the biotech's HIV franchise, which is set to generate solid growth, will be the big story for the company. Gilead recently launched Biktarvy, which market research firm EvaluatePharma projected as the biggest-selling new drug to reach the market in 2018 . Peak sales for the HIV drug could top $6 billion. Perhaps the most important component to Gilead's comeback, though, is the biotech's pipeline. Gilead and partner Galapagos are developing a promising anti-inflammatory drug, filgotinib. Analysts think the drug could achieve peak annual sales between $2 billion and $3 billion. There are also great opportunities for selonsertib, Gilead's lead candidate targeting treatment of nonalcoholic steatohepatitis (NASH). Story continues Gilead stock currently trades at a little over 10 times expected earnings. If HCV sales stabilize, Biktarvy takes off, and the pipeline delivers like I expect, this biotech stock won't remain this cheap for too much longer. No love for Big Blue Tim Green (International Business Machines): The market didn't like IBM's first-quarter report in April, sending the stock tumbling despite better-than-expected revenue and earnings. Revenue jumped by 5% year over year, but that growth was driven almost entirely by currency. The company's gross margin also continued to erode, although the declines are getting smaller. A growth stock IBM is not. But that doesn't mean it can't be a solid long-term investment. IBM's growth businesses are expanding at a double-digit pace, accounting for 47% of total revenue over the past year. Cloud revenue is now 22% of total revenue, and it grew by 20% during the first quarter. And cloud delivered as a service, a key growth driver for IBM , now has an exit annual run rate of $10.7 billion, up 25% from one year ago. Declining sales in legacy businesses are still offsetting all this growth, leading to headline numbers that fail to impress. But I think the market is being too pessimistic. IBM stock now trades for just about 10.3 times the company's guidance for adjusted full-year earnings. And after a recent dividend bump, the stock yields 4.4%. This is a company that still has significant competitive advantages, including a large customer base dependent on its products and services. The rock-bottom valuation doesn't seem to reflect that. If you're looking for a beaten-down dividend stock in June, look no further than IBM. Don't listen to the market Neha Chamaria (3M): 3M is off nearly 25% from its 52-week highs. Remarkably, the steep fall has come in just the past four months, opening up an opportunity for smart investors to buy shares in the industrials conglomerate that's also among the only eight publicly listed companies that have increased their dividends for a jaw-dropping 60 consecutive years. More so, because the sell-off in 3M shares makes little sense. 3M had a banner year in 2017 , generating a record $30 billion in sales from a portfolio that comprises of more than 60,000 products that serve the needs of nearly every major industry you could think of. If you're wondering what kind of products, 3M is the owner of Post-it, Scotch, Scotch-Brite, Command, Filtrete, and Littmann brands, among others. So why did 3M lose favor with investors? While weakness in the broader market knocked off some gains early on, a sharp drop in the company's first-quarter earnings followed by an outlook downgrade in April added fuel to the fire. In reality, 3M's sales hit all-time first quarterly highs, and two significant one-time expenses hit its bottom line. While one was a tax-related expense, the other was related to the settlement of a lawsuit, which was actually a positive development for the company. Now here's the bigger news: Management downgraded its fiscal 2018 earnings per share (EPS) range estimate by 1% at the midpoint, primarily on the back of an unanticipated weakness in electronics. Yet, that was enough to spook investors as they saw 3M's guidance downgrade as a precursor to a slowdown in momentum in the industrials sector. I beg to differ, because 3M's outlook still calls for a double-digit growth in EPS this year. In fact, 3M is unwavering on its 2016-2021 financials goals of growing its EPS by 8%-11% and converting 100% of its net income into free cash flow. It's time you get serious about this dividend growth stock. Thirsty for high returns Demitri Kalogeropoulos (SodaStream): If it's been a while since you checked in with SodaStream, you might be surprised by just how well the business is doing. The sparkling water machine specialist just posted its ninth straight quarter of double-digit sales gains while achieving record profitability. The important usage metrics are all pointing in the right direction, too, with machine sales and carbon dioxide refills showing strength across a range of markets including Canada, Australia, Japan, and the United States. This is a far different business than the one that suffered painful sales and profit declines in 2014 and 2015. Since then, CEO Daniel Birnbaum and his team have shifted the brand focus from cola to sparkling water, lowered their manufacturing and distribution costs, released popular new machines, and improved relationships with key retailers. As a result, sales and earnings are both on pace to rise by about 15% this year after expanding nicely in 2017. Consumer appetites can change quickly, and that means SodaStream has to keep innovating if it wants to extend its positive momentum. The growth plan includes the launch of a new one-touch machine in the coming weeks and a bigger e-commerce platform that makes home delivery of carbon dioxide canister refills easier for its customer base. Looking further out, there's a big global market opportunity ahead for the company that, in delivering over 1.5 billion liters of sparkling water to consumers last year, can claim to be the world's biggest water brand, by volume. Who wants a second bite at the apple? Rich Smith (SolarEdge Technologies): What went up has come back down again, and that's great news for investors -- who now have a chance to buy SolarEdge stock for a great price in June. SolarEdge, one of the world's leading producers of solar inverters for converting direct current electricity from solar panels into alternating current electricity for home use, had a fabulous fiscal Q1, beating Wall Street estimates for both sales and earnings, reporting 11% sales growth, 430 basis points of improvement in gross profit margins, and a 134% increase in earnings per share (with 149% improvement in cash flow). Just like the analysts at Vertical Group predicted back in February, competitors to SolarEdge are "nowhere in sight." SolarEdge stock soared 26% in the few days following its Q1 2018 earnings release, but then, last week, the stock suffered whiplash. Over two days of trading, SolarEdge gave back literally every cent of its gains. The reason? No one knows. There's been no bad news whatsoever, that I can find, to explain the stock's sudden turnaround (unless you call investors "taking profits" a reason). As for the rest of us, thanks to the irrational decision to sell off SolarEdge stock, investors who missed their chance to buy before earnings have been given a second bite at the apple -- an opportunity to buy SolarEdge stock at its pre-earnings price, knowing beforehand just how wonderful those earnings numbers would be or already were. If I were you, I'd grab that apple. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Demitrios Kalogeropoulos has no position in any of the stocks mentioned. Keith Speights owns shares of AbbVie and Gilead Sciences. Neha Chamaria has no position in any of the stocks mentioned. Rich Smith owns shares of SolarEdge Technologies. Timothy Green owns shares of IBM. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool owns shares of SodaStream. The Motley Fool recommends 3M. The Motley Fool has a disclosure policy . || 2 Embarrassingly Cheap Dividend Stocks: Real estate investment trusts, orREITs, are known for their high dividends, but rising interest rates have put pressure on these stocks and driven yields even higher. And retail-focused REITs have been hit especially hard.
However, it's important to realize that not all retail is in the same boat. Here are two REITs in particular that can allow long-term investors to take advantage of headwinds in the retail industry.
Image source: Getty Images.
[{"Company (Symbol)": "EPR Properties(NYSE: EPR)", "Recent Stock Price": "$64.65", "Dividend Yield": "6.7%", "P/FFO (2018 Midpoint)": "11.1"}, {"Company (Symbol)": "Kimco Realty Trust(NYSE: KIM)", "Recent Stock Price": "$16.44", "Dividend Yield": "6.9%", "P/FFO (2018 Midpoint)": "11.4"}]
Data source: TD Ameritrade. Prices, yields, and P/FFO as of 6/15/18. FFO =funds from operations.
EPR Properties is areal estate investment trustthat focuses on three types of properties: entertainment, recreational, and educational.
EPR's entertainment portfolio is the largest of the three, and consists primarily of megaplex theaters, while the recreation properties include golf properties (TopGolf is one of EPR's largest tenants), ski resorts, waterparks, and more. Entertainment and recreational tenants, both forms of service-oriented retail, combine to make up 76% of the portfolio, and are well-positioned to benefit as more of themillennial generationcomes of age.
With more than 75 million Americans in the 18-34 age group, millennials are the largest segment of the population -- and prefer to spend their money on experiences, as opposed to simply buying things. With technological advances and changing consumer tastes, property types that cater to these preferences are becoming much more lucrative. For example, when EPR renovates a megaplex theater to enhance the customer experience (luxury seating, new food and beverage options, etc.), the property's revenue increases by an average of 40%.
The education portfolio not only adds an element of recession-resistant diversification but the market is also experiencing pretty exciting growth in its own right. The number of public charter school students has grown at a 12% annualized rate since 2002, and there are more than 1 million students on waiting lists. Other education property types, such as private schools and early childhood centers, are seeing similar trends.
In a nutshell, this is a company with lots of room to grow over the coming decades that is trading for a rock-bottom valuation.
To be clear, retail is definitely undergoing a big change, and many retail REITs are suffering a bit as a result. And Kimco Realty is no exception.
However, Kimco is in a good position to adapt. About three-fourths of the company's portfolio consists of grocery-anchored shopping centers (as opposed to ones where a department store is the main draw), and about 60% of the company's smaller tenants are service-oriented businesses, which are actually doing quite well as a group.
The company has been affected by store closures from companies such asSears Holdings, Toys R Us, and others, but the effect is smaller than you may think. As of March 31, announced store closures have impacted just 1.2% of Kimco's base rent. In all, just 5% of Kimco's portfolio is composed of retailers that could struggle to adapt to the new retail landscape.
And the company is seeing lots of demand from growing retailers. For example, discount-oriented retailers likeFive BelowandT.J. Maxx(Kimco's largest tenant) are actively expanding, as are experiential and service businesses likePlanet FitnessandChipotle Mexican Grill, just to name a couple.
The numbers paint a positive picture. Kimco's occupancy is 96.1%, which is actually higher than at the end of any first quarter in the previous five years, and rent continues to grow at a 4% annualized rate per square foot.
Kimco is aggressively deploying resources to redevelop existing properties and develop new ones that are designed to succeed in the new retail environment. The company is making all the right moves, and shareholders who get in while retail is still in transition will get a near-7% dividend yield for their patience.
More From The Motley Fool
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Matthew Frankelhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Chipotle Mexican Grill. The Motley Fool recommends Five Below and Planet Fitness. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
IMT AIRDROP and Whitelisting Get 22222 IMT Token ( worth $100 )
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#Airdrop #BTK #BitcoinTokenpic.twitter.com/FVScJGHRFF || How is it that Facebook tracking non Facebook users across the internet is illegal, but Bitcoin surveillance companies spying on people's transactions across the internet is not? Who will take this to court to get Bitcoin surveillance companies shut down? https://techcrunch.com/2018/02/19/facebooks-tracking-of-non-users-ruled-illegal-again/ … || 2018/06/19 19:00
#Binance 格安コイン
1位 #BCN 0.00000060 BTC(0.44円)
2位 #SC 0.00000189 BTC(1.4円)
3位 #NCASH 0.00000226 BTC(1.67円)
4位 #POE 0.00000268 BTC(1.98円)
5位 #STORM 0.00000328 BTC(2.42円)
#仮想通貨 #アルトコイン #草コインhttps://wp.me/p9uE3r-u || Lowest 5M|15M|1H Average Stoch RSI:
1) $RBY/BTC 0.36
2) $TUBE/BTC 0.82
3) $BRK/BTC 3.01
4) $CURE/BTC 4.25
5) $SWIFT/BTC 4.29
6) $SIB/BTC 5.83
7) $SEQ/BTC 6.78
8) $BTCD/BTC 7.27
9) $BRX/BTC 7.9
10) $DGD/BTC 8.66
11) $ION/BTC 8.85
12) $PRO/BTC 11.57 || Bitcoin und Euro: 0.00010 BTC = 0.53 EUR 1.00 EUR = 0.00019 BTC Konverter http://dlvr.it/QYDZXR || Current price of Bitcoin is $7525.45 #Bitcoin #Bithound || 5 min #RSI Signals:
$BTC - $PRO: 6.89
$BTC - $SHIFT: 17.92
$BTC - $PART: 18.7
$BTC - $QWARK: 19.82
$BTC - $MER: 24.72
$BTC - $GNO: 24.85
$BTC - $BCPT: 25.88
$BTC - $SLR: 26.0
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Trend: up || Prices: 7419.29, 7418.49, 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-09-29]
BTC Price: 236.69, BTC RSI: 52.82
Gold Price: 1127.10, Gold RSI: 50.14
Oil Price: 45.23, Oil RSI: 50.06
[Random Sample of News (last 60 days)]
May the force be with you: 2 Star Wars trades: Disney's (NYSE: DIS) stock may have had a rough time recently, but " Fast Money " traders see an opportunity. Trader Guy Adami said that with the stock down more than 20 percent in the last couple of weeks, the valuation is reasonable. He also has faith the CEO Bob Iger will "figure it out." "I understand the problems they are having on the cable sides of things, but I also think he's one of the best managers out there. You've got to give him the benefit of the doubt. If the market stabilizes in any way, it goes to $110," he said on Friday. Trader Steve Grasso is long Disney. "I do believe it's going to work its way up and I do believe they [Disney] are the king of content." He also said that Netflix (NASDAQ: NFLX) too could benefit from its deal with Disney. "The Netflix deal with Disney kicks in 2016, so they're going to get Star Wars, Marvel and superheroes. There's a lot of content that is going to save both stocks," he said. Read More Why it might not be time to dump Disney shares Trader Brian Kelley said that Disney is a place to buy when the market gets stronger. "You have a great risk-to-reward ratio. You could get it up to $115. Disney is where you look when the market starts to rip," he said. Disclosures: STEVE GRASSO Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX, firm is long MAT, MCD His kids own EFA, EFG, EWJ, IJR, SPY. BRIAN KELLY Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasuries. GUY ADAMI Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || ACKMAN: The US government is perpetrating 'the most illegal act of scale' with Fannie and Freddie: Bill Ackman (Screenshot) Bill Ackman, founder of Pershing Square Capital. Hedge fund titan Bill Ackman, founder of $19 billion Pershing Square Capital Management, slammed the US government Tuesday night for keeping all the profits from mortgage guarantors Fannie Mae and Freddie Mac. Ackman called it "the most illegal act of scale" he has ever seen the US government do. Ackman spoke Tuesday evening during a panel at Columbia University for the launch of Bethany McLean's new book "Shaky Ground ." McLean and former Fannie Mae CEO Frank Raines were also panelists. Ackman, however, did most of the talking. During the financial crisis, Fannie and Freddie needed massive bailouts and were taken over by the government. It has been seven years since the financial crisis and the companies are still in a state of conservatorship. Today, the government- sponsored enterprises make billions in profits, all of which goes directly to the Treasury. Ackman, the largest shareholder of Fannie and Freddie , and other investors are suing the US government for taking property for public use without just compensation. He said: "And there is no way they will not be allowed to stand, from a legal point of view. And the reason for that is if the US government can step in and take 100% of profits of a corporation forever, then we are in a Stalinist state and no private property is safe and take your money out of every financial institution, put it into gold or Bitcoin and just get the hell out because we're done , maybe the clothes on your back, but other than that nothing is safe." A stands outside Fannie Mae headquarters in Washington February 21, 2014. REUTERS/Kevin Lamarque (Thomson Reuters) In Ackman's view, Fannie and Freddie are vital to the US economy. Right now, he said, the biggest threat to the US middle class is rising rental rates. "If you don't own a home, and you're a member of the middle class, you have a problem," he said. "This is the biggest threat to the middle-class livelihood is that your cost of living, the roof over your head is not fixed, it's floating." Story continues Ackman said Fannie and Freddie were set up to make middle-class housing more accessible. Together, they have enabled widespread availability and affordability with the 30-year, fixed-rate, prepayable mortgage a system that has been in place for 45 years. Ackman said he's optimistic about the future of Fannie and Freddie. He has said before that with the right reforms they could be worth a lot more. He has given the GSEs a price target ranging between $23 and $47 , which is well above the current $2 range. Watch the full panel below: More From Business Insider Bill Ackman is eyeing another huge and potentially controversial deal Some of Wall Street's biggest hedge fund names are racing to rescue their year BILL ACKMAN: Stocks are pretty cheap right now || Greece could soon get 1,000 bitcoin ATMs: Bitcoin (: BTC=) ATMs could spring up across Greece as soon as October as citizens and businesses become increasingly desperate to move their money despite capital controls. BTCGreece, which bills itself as the country's first bitcoin exchange, plans to eventually install 1,000 ATMs nationwide, in partnership with European bitcoin platform, Cubits. Thanos Marinos, the founder of BTCGreece, told CNBC on Wednesday that a soft launch was on the cards for October. "It is part of my vision to create a block chain ecosystem in Greece," he told CNBC. "If all goes as expected with no major issues we will launch first ATMs October 2015." Bitcoin is a decentralized digital currency that can be used around the world . Transactions are listed in a shared public ledger called the block chain. The digital currency has been touted as one way to to circumvent Greek capital controls. These have been in place since June and limit domestic investors to withdrawing no more than 60 euros ($66) per day from Greek banks, making life extremely tough for companies that need to pay or receive bills. Greek individuals and businesses are also forbidden from moving money to bank accounts abroad. The ATMs envisaged by Marinos could allow users to convert fiat currency into bitcoin and potentially vice versa. As yet, BTCGreece has no ATMs in Greece. However, Marinos said he had already received requests from 300 shops for bitcoin ATMs. "We want to do it cautiously," he told CNBC, adding that BTCGreece would announce more partnerships next week. Bitcoin rallied in June amid reports that Greeks were flocking to the currency in order to circumvent the controls. However, the currency's decentralized nature makes it challenging to say how many Greeks currently use it. Bitcoin ATMs have already been installed in other countries, predominately in the U.S. and Western European countries like the U.K., the Netherlands and Spain. "There has been a focus on bitcoin and Greece and the economic instability there," Akif Khan, chief commercial officer at digital commerce company, Bitnet, told CNBC on Wednesday. Story continues "So in one sense it will be an interesting experiment to see if Greeks do gravitate towards bitcoin as one of the tools in their financial toolkit to try and cope." Read More Track Bitcoin versus the euro (Unknown: BTCEUR=) Belfast-based Khan added that Greece's regulatory environment was conducive to introducing ATMs. "In principle, putting bitcoin ATMs into Greece is just as feasible as in any other European country... Greece does not have a prohibitive regulatory environment in this regard," he told CNBC. -By CNBC's Katy Barnato . Follow her @KatyBarnato . More From CNBC Top News and Analysis Latest News Video Personal Finance || Bank Of America Prepares For Bitcoin Revolution: Bitcoin has been slow to catch on across the globe as uncertainty about safety and security has kept the general public from embracing the cryptocurrency. However, many businesses are preparing themselves for a day when cryptocurrencies are widely accepted as such a time may not be far off in the future. Bank of America Corp (NYSE: BAC ) is one such firm, which has seen the potential of using bitcoin to improve its operations. Patent Application On September 17, Bank of America submitted a patent application for the use of bitcoin in order to facilitate international money transfers. The bank is not the first to see bitcoin as a game-changer when it comes to cross border payments. At the moment, sending money to an account abroad is time consuming and costly, but using bitcoin for the same transaction would significantly reduce the time spent and fees charged as the cryptocurrency eliminates the need for a third party intermediary. Related Link: B itcoin Gaining Traction At Colleges Around The World Bitcoin Catching On Bank of America's application is the first from a major retail bank, suggesting that bitcoin may finally be shedding its "dangerous" image. However, this is not the first time a big name firm has applied for a bitcoin-related patent, Mastercard Inc (NYSE: MA ), International Business Machines Corp. (NYSE: IBM ) and Amazon.com, Inc. (NASDAQ: AMZN ) have all applied for patents to protect their own proposed usage of the cryptocurrency. Patents Criticized Some within the bitcoin community have been critical of companies like Bank of America and bitcoin firm Coinbase, which recently applied for bitcoin patents. As bitcoin was designed to be an open source software that works around traditional financial models, many believe that patenting bitcoin systems goes against the purpose of digital currencies. However, others say it is a necessary step for businesses that want to get into the space and if one firm doesn't patent something, another eventually will. Story continues See more from Benzinga Fed Could Raise Rates In September: What Does It Mean? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || ACKMAN: The US government is perpetrating 'the most illegal act of scale' with Fannie and Freddie: (Screenshot)Bill Ackman, founder of Pershing Square Capital.
Hedge fund titan Bill Ackman, founder of $19 billion Pershing Square Capital Management, slammed the US government Tuesday night for keeping all the profits from mortgage guarantors Fannie Mae and Freddie Mac.
Ackman called it "the most illegalact of scale" he has ever seen the US government do.
Ackman spoke Tuesday evening during a panel at Columbia University for the launch of Bethany McLean's new book"Shaky Ground." McLean and former Fannie Mae CEO Frank Raines were also panelists. Ackman, however, did most of the talking.
During the financial crisis, Fannie and Freddie needed massive bailouts and were taken over by the government.It has been seven years since the financial crisis and the companies are still in a state of conservatorship.Today, thegovernment-sponsored enterprisesmake billions in profits, all of which goes directly to the Treasury.
Ackman, the largestshareholder of Fannie and Freddie, and other investors aresuing the US governmentfor takingproperty for public use without just compensation.
He said: "And there is no way they will not be allowed to stand, from a legal point of view. And the reason for that is if the US government can step in and take 100% of profits of a corporation forever, then we are in a Stalinist state and no private property is safe — and take your money out of every financial institution, put it into gold or Bitcoin and just get the hell out because we're done, maybe the clothes on your back, but other than that nothing is safe."
(Thomson Reuters)
In Ackman's view, Fannie and Freddie are vital to the US economy. Right now, he said, the biggest threat to the US middle class is rising rental rates.
"If you don't own a home, and you're a member of the middle class, you have a problem," he said. "This is the biggest threat to the middle-class livelihood is that your cost of living, the roof over your head is not fixed, it's floating."
Ackman said Fannie and Freddie were set up to make middle-class housing more accessible. Together, they have enabledwidespread availability and affordability with the 30-year, fixed-rate, prepayable mortgage — a system that has been in place for 45 years.
Ackman said he's optimistic about the future of Fannie and Freddie. He has said before that withthe right reformsthey could be worth a lot more. He has given the GSEs a price targetranging between $23 and $47, which is well above the current $2 range.
Watch the full panel below:
More From Business Insider
• Bill Ackman is eyeing another huge and potentially controversial deal
• Some of Wall Street's biggest hedge fund names are racing to rescue their year
• BILL ACKMAN: Stocks are pretty cheap right now || Bitcoin Reaches A Fork In The Road: Since its arrival on the fintech scene, bitcoin has always been an open source, decentralized cryptocurrency. That means that no individual can update the system without a consensus among bitcoin users. However, a fierce debate within the community has threatened to pull bitcoin users in two separate directions. The Problem The bitcoin community has been locked in a heated debate over whether or not developers should increase block sizes to greater than 1MB. A block records recent bitcoin transactions, and increasing its size would help to accommodate the cryptocurrency's growing demand. However, critics say that making blocks larger could prevent ordinary users from hosting and would lead to more centralization. Related Link: Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched A Choice To Make Now, developers Gavin Andresen and Mike Hearn have released a new version of software called Bitcoin XT which supports increased block sizes. The move has forced users to choose between Bitcoin Core, which keeps blocks under 1MB, or Bitcoin XT which allows their expansion when necessary. Core Or XT? While the two are compatible at the moment, Bitcoin XT is planning to update its system to incorporate larger block sizes if 75 percent of the cryptocurrency's users adopt it. Many worry that even if XT gains the majority needed for an update, the 25 percent of Core users will continue with that system. Such a decision would effectively tear the currency in two and could have the potential to significantly decrease adoption of the cryptocurrencies as a whole. See more from Benzinga Automation Serves Up Massive Travel Delays For The Second Time This Summer Disney Looks To A Galaxy Far, Far Away To Revamp Its Theme Parks Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin startups lure quant whizzes from Wall Street: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Armed with a doctorate in financial engineering, 34-year-old Timo Schlaefer was on his way to a promising career at Goldman Sachs in London. Previously with the bank's mergers and acquisitions team, he became an executive director of credit quantitative modeling at Goldman, where quants like Schlaefer are highly valued.
In February he gave that up, and launched a company called Crypto Facilities Ltd, a bitcoin derivatives trading platform, which now has six employees. For now, the platform trades bitcoin forwards, which are directly linked to the price of bitcoin, but it's also developing other digital currency derivative products.
"This is uncharted territory," said Schlaefer. "It's an exciting opportunity to participate in a new area of technology that has massive potential."
Bitcoin is a virtual or online currency created through a "mining" process where a computer's resources are used to perform millions of calculations. Once mined, bitcoins can be stored in an online wallet, traded in an online exchange, or used to buy goods and services.
Once the province of small-time investors driven by their distrust of government-backed currencies, now Wall Street bankers and traders are leaving high-paying jobs to join bitcoin start-ups, while big firms hire in-house to get their arms around bitcoin and the related 'blockchain' technology.
"A lot of people are entering the bitcoin space as the sector has reached an overall level of funding that's hard to ignore," said Jaron Lukasiewicz, founder and chief executive officer at New York-based bitcoin exchange Coinsetter. Lukasiewicz, 29, moved to the bitcoin world in late 2012, having left behind a six-figure salary in private equity at The CapStreet Group in New York.
Bitcoin is not backed by a government and its value fluctuates. On Thursday, it was trading at $278 <BTC=BTSP>, making the value of outstanding bitcoin worth about $4 billion. It has had a volatile history, with a rapid rally in 2013 that boosted its value to more than $1,150 per bitcoin at one point.
Right now, Crypto Facilities' Schlaefer probably won't make anywhere near the kind of money that he would potentially earn at Goldman. But it's less about the compensation for Schlaefer and more about being part of the growth in bitcoin and its underlying technology, the blockchain.
The blockchain - a ledger or list of all of a digital currency's transactions - is viewed as bitcoin's main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.
Software engineers have started developing multiple applications for the blockchain, including a land title record system in Honduras to the clearing of trades in financial markets.
Meanwhile, Wall Street firms are doing their own hiring in the cryptocurrency realm. In June, online bitcoin job ads surged to a record high of 306, according to data from Wanted Analytics, with demand coming from banks such as Capital One and tech companies such as Intel and Amazon. In previous months, Citigroup and TD Canada Trust posted bitcoin job ads as well.
RISKY BUSINESS
For 31-year-old Paul Chou, founder and chief executive officer of Ledger X, an institutional trading and clearing platform for bitcoin options, moving into the digital currency space represents what he hopes results in lucrative profits down the road. But there are other reasons for his shift.
LedgerX is awaiting regulatory approval from the Commodity Futures Trading Commission to trade and clear options on bitcoin. Chou said the firm hopes to operate the first regulated exchange and clearinghouse to list and clear fully-collateralized, physically-settled bitcoin options for the institutional market.
"I took a very large salary pay cut to do this, in return for equity in a start-up that can be worth a lot someday," Chou said.
Before LedgerX, Chou worked at Goldman Sachs in New York as a quant equity trader after graduating from the Massachusetts Institute of Technology with degrees in computer science and mathematics. Chou said his hours are much longer as an entrepreneur - he's constantly refining ideas for strategy and thinking which areas to focus on.
"The domain expertise, relationships, and career equity I've built are things I never could have done while at Goldman," Chou said. "As a former trader, I'm glad I made this trade-off at the stage of my career that I did."
It's a risky move, however. There are already several tales of bitcoin company failures and mismanagement.
U.S. bitcoin marketplace Buttercoin, for instance, shuttered its operations in April this year despite raising $1.3 million in funding. Bitcoin exchange MyCoin closed its doors in February of 2015, leaving about 3,000 investors out of pocket.
Tokyo-based Mt. Gox, once one of the most dominant bitcoin exchanges, closed its doors without warning in February last year, filing for bankruptcy and leaving investors approximately $500 million in the red.
BITCOIN INVESTMENTS, HIRING
Total investments in bitcoin companies for the first half of 2015 - totaling $375.4 million - have already exceeded 2014's total of $339.4 million, data from CB Insights showed. Last year's venture capital funding of bitcoin start-ups grew roughly 280 percent from 2013.
The number of bitcoin start-ups has increased by more than 80 percent from last year. As of end-July, there were 814 start-up digital currency companies, up from 444 a year earlier, according to Angel List, an online marketplace for start-ups seeking to raise money from angel investors.
As banks defer compensation and add more clawback provisions that give them the right to limit bonuses, traders are seeing better risk opportunities elsewhere, said San Francisco-based Rick Henri Chan, chief operating officer at Airbitz, a digital wallet platform.
Chan, 47, who joined the bitcoin industry three years ago, worked for Deutsche Bank as head of its over-the-counter derivatives technology in Japan, and was a trader at UBS and Morgan Stanley.
He works long hours at Airbitz, doing everything from strategy to raising money, but the work environment is more flexible. At Deutsche, Chan had a multi-million dollar package, and he admits to missing that paycheck.
"But we're doing something special here at Airbitz. And I do think our company will be valued at a lot more in the future," he said.
(Reporting by Gertrude Chavez-Dreyfuss, editing by David Gaffen and John Pickering) || Neste's Interim Report for January-June 2015: Neste CorporationInterim Report5 August 2015 at 9 am. (EET)
Neste`s Interim Report for January-June 2015
Continuing strong refining market enabled good result despite the scheduled major turnaround at the Porvoo refinery
Second quarter in brief:
• Comparable operating profit totaled EUR 78 million (Q2/2014: EUR 86 million)
• Negative impact of the Porvoo refinery turnaround on comparable operating profit was EUR 130 million
• Total refining margin was USD 10.83/bbl (Q2/2014: USD 8.33/bbl)
• Renewable Products` comparable sales margin was USD 210/ton (Q2/2014: USD 200/ton)
• Net cash from operations totaled EUR 227 million (Q2/2014: EUR 219 million)
January-June in brief:
• Comparable operating profit totaled EUR 293 million (1-6/2014: EUR 136 million)
• Return on average capital employed (ROACE) was 12.5% over the last 12 months (2014: 10.1%)
• Leverage ratio was 40.3% as of the end of June (31.12.2014: 37.9%)
• Comparable earnings per share: EUR 0.80 (1-6/2014: EUR 0.30)
President & CEO Matti Lievonen:
"The second quarter was characterized by a strong refining margin environment, and the major turnaround at our Porvoo refinery. Neste recorded a comparable operating profit of EUR 78 million during the second quarter, compared to the EUR 86 million during the corresponding period last year. As announced on 16 June, the turnaround had a negative impact of approximately EUR 130 million on comparable operating profit.
Oil Products generated a comparable operating profit of EUR 14 million (EUR 33 million) during the second quarter. Neste`s reference margin averaged USD 8.7/bbl, which was more than double that in the same period last year. Gasoline margins continued particularly high, supported by global demand growth and the summer driving season. The maintenance turnaround implemented during the second quarter was the largest in the history of the Porvoo refinery. It has now been successfully completed and will help ensure the refinery`s performance and safety for the next five years.
Renewable Products recorded a comparable operating profit of EUR 54 million (EUR 32 million) during the second quarter. Renewable Products` additional margin and a stronger US dollar had a positive effect on the result compared to the same period last year. Feedstock optimization continued, and the share of waste and residue feedstocks reached 67% of total inputs. The Porvoo turnaround reduced renewable diesel production by more than 10% of total production capacity during the second quarter.
Oil Retail`s markets continued competitive, but we were able to increase profits by higher sales volumes particularly in the Baltic markets, and improving margins. The segment generated a comparable operating profit of EUR 22 million, higher than the EUR 20 million booked in the second quarter of 2014.
Global oil demand growth estimates for 2015 have been generally upgraded to 1.3-1.5 million bbl/day, and the forward refining margin outlook for the coming quarters is stronger than that seen in April. Current crude oil price level promotes oil product demand, and there seems to be limited upside potential in oil price.
Our result guidance remains unchanged: Neste estimates the Group`s full-year 2015 comparable operating profit to remain robust and to be higher than that reached in 2014."
The Group`s second-quarter 2015 results
Neste`s revenue in the second quarter totaled EUR 2,605 million (EUR 4,104 million). The decrease mainly resulted from lower sales volumes due to the Porvoo refinery turnaround, which had an impact of EUR 1.1 billion, and lower sales prices caused by the oil price decline, which had a negative impact of EUR 0.7 billion. The change in USD/EUR exchange rate had a positive impact of EUR 0.3 billion on the revenue year-on-year. The Group`s comparable operating profit came in at EUR 78 million (EUR 86 million). Oil Products` result was negatively impacted by the planned major turnaround at the Porvoo refinery, but positively impacted by reference refining margins, which were higher than in the second quarter of 2014. Renewable Products` result improved mainly due to higher additional margin and a favorable USD/EUR exchange rate. Oil Retail`s result was positively impacted by higher sales volumes and margins year-on-year. The Others segment recorded a lower comparable operating profit compared to the second quarter of 2014.
Oil Products` second-quarter comparable operating profit was EUR 14 million (33 million), Renewable Products` EUR 54 million (32 million), and Oil Retail`s EUR 22 million (20 million). The comparable operating profit of the Others segment totaled EUR -14 million (2 million).
The Group`s IFRS operating profit was EUR 63 million (70 million), which was impacted by inventory gains totaling EUR 78 million (2 million), changes in the fair value of open oil derivatives totaling EUR -91 million (-18 million), mainly related to hedging of inventories, and non-recurring items totaling EUR -3 million (0 million). Pre-tax profit was EUR 52 million (48 million), profit for the period EUR 42 million (39 million), and earnings per share EUR 0.17 (0.15). The Group`s effective tax rate was 20% (18%).
The Group`s January-June 2015 results
Neste`s revenue during the first six months totaled EUR 5,348 million (EUR 7,613 million). The decrease mainly resulted from lower overall sales prices caused by the oil price decline, which had an impact of EUR 1.9 billion, and lower sales volumes due to the Porvoo refinery maintenance during the second quarter, which had a negative impact of EUR 1.1 billion. The change in USD/EUR exchange rate had a positive impact of EUR 0.7 billion on the revenue year-on-year. The Group`s comparable operating profit came in at EUR 293 million (EUR 136 million). Oil Products` result was positively impacted by reference refining margins, which were clearly higher than during the first half of 2014. However, the scheduled major turnaround at the Porvoo refinery negatively impacted the segment`s result during the second quarter. Renewable Products improved as a result of successful margin management, feedstock optimization and a favorable USD/EUR exchange rate. Oil Retail`s result was positively impacted by increased sales volumes and margins. The Others segment recorded a lower comparable operating profit compared to the first half of 2014.
Oil Products` six-month comparable operating profit was EUR 170 million (65 million), Renewable Products` EUR 96 million (44 million), and Oil Retail`s EUR 39 million (34 million). The comparable operating profit of the Others segment totaled EUR -11 million (-9 million).
The Group`s IFRS operating profit was EUR 296 million (120 million), which was impacted by inventory gains totaling EUR 2 million (losses of 1 million), changes in the fair value of open oil derivatives totaling EUR -73 million (-13 million), mainly related to hedging of inventories, and non-recurring items totaling EUR 74 million (-2 million), mainly related to the capital gain from the disposal of the Porvoo electricity grid. Pre-tax profit was EUR 257 million (81 million), profit for the period EUR 223 million (66 million), and earnings per share EUR 0.87 (0.25). The Group`s effective tax rate was 13% (20%) mainly due to the tax-exempt items, such as the sale proceeds of the shares of Kilpilahden Sähkönsiirto Oy, electricity grid company.
Outlook
Developments in the global economy have been reflected in the oil, renewable fuel, and renewable feedstock markets; and volatility in these markets is expected to continue.
Global oil demand growth estimates for 2015 have been increased and are generally at 1.3-1.5 million bbl/d, as especially gasoline demand growth has been healthy. The forward reference refining margin outlook for the coming quarters is stronger than that seen in April. While the refining capacity growth in Asia and the Middle East and ending of the refinery maintenance season are expected to increase product supply, the transatlantic supply demand balance is also dependent on demand growth and possible refinery shutdowns. Lifting of the economic sanctions against Iran could increase the supply of medium heavy crude oil in the European market in the future.
Vegetable oil price differentials are expected to vary, depending on crop outlooks, weather phenomena, and variations in demand for different feedstocks, but no fundamental changes in the drivers influencing long-term average feedstock price differentials are expected. Feedstock prices have been on a downward trend, but vegetable oil price differentials have remained narrower than the historical average. Market volatility in feedstock and oil prices is expected to continue, which will have an impact on the Renewable Products segment`s profitability.
Crude oil price changes, supply and demand balances, together with uncertainties related to political decision-making on biofuel mandates, the US Blender`s Tax Credit (BTC) and other incentives will be reflected in the oil and renewable fuel markets. Reintroduction of the BTC would have a positive impact on Neste`s comparable operating profit, and it is not included in the company`s current result guidance.
Neste`s guidance remains unchanged: Neste estimates the Group`s full-year 2015 comparable operating profit to remain robust and to be higher than that reached in 2014.
Further information:
Matti Lievonen, President & CEO, tel. +358 10 458 11Jyrki Mäki-Kala, CFO, tel. +358 10 458 4098Investor Relations, tel. +358 10 458 5292
News conference and conference call
A press conference in Finnish on second-quarter 2015 results will be held today, 5 August 2015, at 11:30 a.m. EET at the company`s headquarters at Keilaranta 21, Espoo.www.neste.comwill feature English versions of the presentation materials. A conference call in English for investors and analysts will be held on 5 August 2015 at 3 p.m. Finland / 1 p.m. London / 8 a.m. New York. The call-in numbers are as follows: Finland: +358 (0)9 6937 9543, rest of Europe: +44 (0)20 3427 1906, US: +1646 254 3362, using access code 6785568. The conference call can be followed at the company`sweb site. An instant replay of the call will be available until 12 August 2015 at +358(0)9 2310 1650 for Finland, +44(0)20 3427 0598 for Europe and +1 347 366 9565 for the US, using access code 6785568.
Neste in brief
Neste is a pioneer in oil refining and renewable solutions. We provide our customers with premium-quality products for cleaner traffic and industrial products based on world-class research. Our sustainable operations have received recognition in the Dow Jones Sustainability World Index and the Global 100 list of the world`s most sustainable companies, among others. Our net sales for 2014 amounted to approximately EUR 15 billion, and our shares are listed on NASDAQ Helsinki. Cleaner traffic, energy and life are moved forward by about 5,000 professionals. More information:neste.com/en
Neste interim report Q2 2015
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Neste Oyj via GlobeNewswireHUG#1943713 || Pot-Friendly Candidates Emerge In 2016 Election: Marijuana will play an unprecedented role in the 2016 Presidential race as the drug has never before been regarded by the public in such a favorable light.
In previous elections, marijuana was used as a weapon and candidate after candidate denied using, or liking the drug at all. However, this year pot is expected to come up several times on the campaign train, but as an issue rather than a shameful allegation.
A Big Issue?
It remains to be seen just how important a candidate's stance on marijuana legalization will be when it comes to the election. Most candidates have been vague about their views on the drug, saying that the Obama administration's decision to let states decide for themselves whether or not marijuana should be legalized has provided a good framework to see just how a legal marijuana market will affect the United States.
Related Link:How Every Presidential Candidate Wants To Change The Economy
Pot Friendly
Candidates Ted Cruz and Rand Paul havevoiced their supportfor the marijuana market, saying that it should be each state's right to determine the laws governing marijuana. Paul also became the first candidate toturn to marijuana industry groupsfor campaign support. Others, like Chris Christie claim they will take a hardline against marijuana and reverse states' decisions to legalize the drug.
Unknown
Others, like Hillary Clinton, have taken a wishy-washy view— saying that they'd like to see how things go in Colorado and Oregon before making a firm decision or avoiding the issue all together. However, this week, Bernie Sanders appeared to be planning to take a stand on marijuana and many speculate that stand will be pro-legalization. On Tuesday, Sanders spoke out against the war on drugs and promised voters that his campaign would release his marijuana platform in a month.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || What to watch on Monday: The "Fast Money" traders gave their final thoughts of the day.
Steve Grasso was watching the S&P 500(CME:Index and Options Market: .INX)'s technical levels.
David Seaburg was a buyer of TWTR(NYSE: TWTR).
Brian Kelly had his eye on the DXY(Exchange: .DXY).
Guy Adami was also watching key levels of the S&P 500(CME:Index and Options Market: .INX).
Trader disclosure: OnAugust 21, 2015the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Brian Kelly is long BBRY, BTC=; DAX, DXGE, ITB, TAN, TSL, TWTR call spread, U.S. Dollar; he is short AUDJPY, GBPJPY, Euro, Ruble, Yen, Yuan. Today he bought DAX, DXGE, US Dollar. Today he sold VIX and Euro. Today he closed his CAC40 short position. Today he shorted Euro and Yen.Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. SteveGrasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX. His kids are long EFA, EFG, EWJ, IJR, SPY. His firm and some of its partners are long WLL, DNR, DVN, TWTR, NE, NEM, OXY, RIG, TSE, VALE.
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[Random Sample of Social Media Buzz (last 60 days)]
My robot has 00 hp left! I've earned a total of 11,872,154 free satoshis from http://www.robotcoingame.com/?id=1MXygMB3JkNbh7FiSuc2T4hMiBvwe8soH9 … #robotcoingame #Bitcoin #FreeBitcoin || One Bitcoin now worth $233.62@bitstamp. High $235.46. Low $233.00. Market Cap $3.425 Billion #bitcoin || Current price: 216.48€ $BTCEUR $btc #bitcoin 2015-09-07 18:00:02 CEST || Current price: 266.96$ $BTCUSD $btc #bitcoin 2015-08-14 15:00:03 EDT || Bitcoin traded at $281.7 USD on BTC-e at 11:00 AM Pacific Time || 1 #bitcoin 670.2 TL, 225.696 $, 202.112 €, GBP, 15229.00 RUR, 28000 ¥, CNH, 307.88 CAD #btc || Que hacer en escenario financiero complejo?
Junto a @memobarba @josepimpo 31-08 en @Finanzabolsillo 19:00
#fintech #gold #bitcoin #stocks || In the last hour, 9 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $1.3E-5 per #reddcoin
16:00:01 || In the last 10 mins, there were arb opps spanning 13 exchange pair(s), yielding profits ranging between $0.00 and $537.51 #bitcoin #btc
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Trend: up || Prices: 236.06, 237.55, 237.29, 238.73, 238.26, 240.38, 246.06, 242.97, 242.30, 243.93
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-08-20]
BTC Price: 11878.37, BTC RSI: 60.58
Gold Price: 1933.80, Gold RSI: 50.63
Oil Price: 42.58, Oil RSI: 58.19
[Random Sample of News (last 60 days)]
The Guaranteed Easiest Way to $10 Million in the Stock Market...: There is one guaranteed way to end up with $10 million in the stock market. Start with $100 million! If you dont have $100 million lying around, having a great connection to the market is a great start. You can get connected easily through the downloadable dough app. Not only do you get unlimited commission-free stock trading and tips from experienced traders, but you start your portfolio with a free stock. In todays fast-moving markets, you need a platform that allows you to move with agility. Lets see how dough does that for you. A Unique Feature Set Trading is now a democratic process. Everyone has access to all of the same information as Wall Street professionals. Investors can make highly sophisticated trades with just a few screen taps on a smartphone. So what is your edge if everybody has the same stuff? Your edge is moving just a bit faster than the next guy. You need a platform that works on iOS or Android without lag, providing you with the informational framework to make good decisions and the execution tools to implement them. This is where Dough comes in. Honestly, commission-free trading and no account minimums is pretty much par for the course. Dough steps it up with smart ideas on how to use all of that freedom. The easiest way to $10 million in the stock market is through proper and timely interpretation of the news cycle. The day to day news is what controls a large part of the short term behavior in the market. If you want to win consistently, you need to be the first to the news and the first to properly gauge its effect on the market. If you do not have time to analyze every stock pick yourself, the Dough Stock Report Card connects you to buy and sell ratings from professional Wall Street analysts. You can take those results through the Idea Feed to filter according to your personal interests. Stock Stories from Dough fills in any informational void you might have concerning a prospect. By the time you get done with all of these features, you will be on the cutting edge of any information about the stocks in your crosshairs. Bringing Headlines to Life In most cases, clickbait only benefits the person writing the bait. If you know how to use the news, however, clickbait can actually make you money. Instead of having to manually filter through the noise to get what you came for, Dough lets you follow your favorite companies just like your friends Instagram pages. The proprietary 3Cap squawk feature gives you the most important summaries of headlines. The Dough Selects gives you suggestions about how to turn your hobbies into money. Whether you love Monday morning quarterbacking, watching politics on a loop in the afternoons, experimenting with cutting edge cannabis products or following the gaming industry, there is no knowledge that is not power. That knowledge is your edge. You just need the proper tool to connect it to the markets. You can also follow the Social Currency podcast for cutting edge information on the market from morning coffee to evening bubble bath. Story continues Protection for Your Investment Account In a world of global financial access, there are many unregulated broker-dealers that take unscrupulous risks with your money. You may be familiar with the Federal Deposit Insurance Corporation (FDIC) and assume that your investment accounts are not safe because they cannot be covered here. Actually, your funds are as well protected as they would be in a bank. Dough is registered with the Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Instead of the FDICs $250,000 protection, you actually get $500,000. Rest assured that your deposits from any source will be fully protected. 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As more people around the world gain access to global markets through a continuously democratized process, you must stay ahead of the curve to retain your investment edge. If you are bringing together resources from multiple platforms, you risk a lack of integration. Even the slightest bit of lag between sources and execution points can affect your investment results. The true strength of Dough is bringing everything together under one umbrella so that you dont have to worry about your squawk being late or your news feed shutting down. Sign up for the Dough app is easy as well. All you have to do is make your way to the website to get set up in minutes. There is a download for iOS and Android. With no minimums, you can get started no matter where you are in your investment career or your personal life. Explore your financial curiosity and get involved in the exciting world of finance. Now is the time to get started. As they say, millionaires are made in recessions, and it certainly looks like we are going to be in one for the next few years! See more from Benzinga Smart Investors are Buying Tesla, Hedging with Bitcoin and Doing This Score 11.24% Returns in a 0 GDP World. Here's How. Farming is Cool Again - Invest While You Can © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Twitter's Bitcoin hackers had almost limitless access: On Wednesday, July 15, Twitter was the target of avery public hackattack that’s still sending shockwaves across the internet. In what is a major security breach for the company, a handful of the most-followed Twitter accounts belonging to some of the world’s wealthiest individuals and companies all published a tweet asking followersto send Bitcoinwith a claim offering to double their money in return.
Turns out it was a coordinatedsocial engineeringattack on Twitter’s employees that allowed the perpetrators access to company admin panels. Now, the FBIhas started an investigation.
Just hackers burning up a 0day like it’s a fire sale
Imagine getting the keys to the Twitter kingdom -- access to all the account admin panels in the world. What would you do? You could grab high-value accounts and sell them on the black market. You could extract unimaginably valuable blackmail material from DMs. Or maybe you'd wait until an event like the upcoming US election to launch an evil plan of some kind.
But if you're any kind of seasoned attacker, you wouldn't blow your own cover by tweeting from the world's biggest accounts -- for a bitcoin scam. Sure, some have posited that the cryptocurrency spam tweets were a distraction for something bigger going on in the background. Maybe the attackers already did their sneaky stuff and are ready to do what's called "burning your 0day."
And boy, did they burn that perfectly good 0day hot, bright, and fast.
Twitter’s response — a worrying five hours later — was to do something few knew the company had the power to do: lock every verified account across the globe. Unfortunately this is akin to discovering a burglar is in your house because they started blasting music in your living room, and your response is to turn off all the lights.
Except freezing the “blue checks” is actually worse, because many essential emergency services around the world use Twitter as a critical communication channel. Like the National Weather Service, which found itself suddenlyunable to tweet weather warnings.
The account freezes appeared to be a decision governed by panic. Twitter seemed to have no idea what was happening or how to stop it. And wow, do we have questions about the who, what, why, and future implications of it all.
Ina tweet threadposted during and after the hack attack, Twitter wrote: “We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools.”
The verified account freeze also impacted those users’ ability to reset their passwords.
Twitter bracketed the thread with a caveat that its investigation is “ongoing.”
Don’t worry the rich celebrities will be okay
The compromised accounts included Jeff Bezos, Bill Gates, Elon Musk, Bill Gates, Barack Obama, Apple, Kanye West, Joe Biden, Uber, Mike Bloomberg, Floyd Mayweather, Wiz Khalifa, and others. Twitter updated its ongoingincident report support threadThursday evening to state that130 accounts were affectedby the attack.
The problem is that the tweets looked normal to anyone following Kanye or Elon Musk, who basically tweet outJohn McAfee-style crazy claptrapon the regular, and a significant number of people fell for the scam. As wereported yesterday, the haul equaled around $118,000 and “At the time of writing, all but $114 of that $118,000 haul has been transferred to other wallets.”
That's a paltry amount of money, especially when,according to Glassdoor, the lower end of what most engineers at Twitter make $131,403 a year. This was an intrusion with enormous impact, the potential for extreme scope, and a serious amount of damage.
You’d assume the attackers wanted more than what it takes to eat and sleep in the poor parts of San Francisco. But again, even thoughthe attack beganwith a slightly different bitcoin scam, the perpetrators went public immediately, guaranteeing they'd be found out and shut down right away.
Of course, one very strong possibility is that the attackers were just really bad at crime.
Many observers immediately assumed that these high-profile accounts must have lax security standards, or don’t have two-factor enabled. However, Reutersreportedthat “Several users with two-factor authentication — a security procedure that helps prevent break-in attempts — said they were powerless to stop it.”
Motherboardobtained anonymous comment from sourcesat Twitter who said the account takeovers were done via access to an internal account management tool; Vice published screenshots of the tool (while anyone on Twitter publishing the same screenshots got put in Twitter jail real quick).
If Twitter was trying to stop the spread of those images, this is the internet after all. They spread quickly to news sites and forums. The hack’s forbidden screencaps revealed the presence of “blacklist” buttons on individual account pages. Many now want to know,is that evidence of shadowban and blacklisting we see?
Twitter users who work in and around human sexuality have for years made a case that they are being “shadowbanned” by Twitter, the practice of silencing accounts by hiding them in various ways. Only recently have far-right conspiracy theoristsco-opted the shadowban conceptto “play the [censorship] refs” in their favor. Now Twitter will be facing direct questions it has struggled toavoid confronting head-on.
When reached for comment about “blacklist” buttons seen on account pages in Twitter’s compromised management tool, The company’s spokesperson did not directly address the question. Instead, they said via email, “Since July 2018we’ve made clearthat we do not shadowban.”
Twitter’s rep included a boilerplate listing Twitter policy on Trends content inclusion and exclusion, content newsworthiness, trending topic hashtag exclusion policy, andsearch rules and restrictions.
A different source toldMotherboardthe allegedly compromised Twitter employee was paid for their participation in the low-rent bitcoin scheme. “A Twitter spokesperson toldMotherboardthat the company is still investigating whether the employee hijacked the accounts themselves or gave hackers access to the tool,” Vice wrote.
Since the tool allowed account management, this confirmed early speculation that the attackers not only had the ability to change account emails and reset passwords, but that it also granted them access to the targeted users’ direct messages (DMs). That is a breathtaking problem, considering that many people — including celebrities and politicians — don’t understand that Twitter DMs are not protected with end-to-end encryption, and are not particularly secure.
Senator Ed Markey (D-MA) addressed exactly that in a statement saying Twitter “must fully disclose what happened and what it is doing to ensure this never happens again”. This was in addition to Senator Josh Hawley (R-MO) firing off an angry letter to Jack Dorsey, and Senator Ron Wyden (D-OR) issuing a similar statement, adding “this is a vulnerability that has gone on too long.”
Which is an interesting point to make, if the “vulnerability” in question was a paid-off employee — the vulnerability was human. That means the attack wasn’t necessarily as technical as it was a pretty capital feat of social engineering. This would most likely be a quid pro quo social engineering attack, where the human vulnerability is offered something in exchange for the access, information, or credentials the attacker wants.
It’s also plausible that the attacker used pretexting, where they pretend to be a person with a legitimate need for access, relying on the victim’s trust and gullibility. (“No, I swear, I reallyneedto get in that server closet.”) Another possibility would be baiting, or a bait-and-switch in which the attacker might trick an employee into inserting a malicious USB stick or file into a computer to compromise it.
While this is certainly a huge black eye for Twitter, what might be more interesting to explore is what the attack tells us about who did this, and why. Which is something we’ll most likely find out, based on my colleague’s excellent point that bitcoin is not actually anonymous, and hiding the loot conversion trail is not trivial. Certainly not for hackers who decided to make what could have been the heist of the century into a clumsy bitcoin smash and grab -- and didn’t even ban a single Nazi in the process. || CME Bitcoin Options Flatline After Record Growth in June: Bitcoin options trading on CME has flatlined after the exchange experienced massive growth and a record-breaking expiry last month. CMEs bitcoin options open interest has grown barely 10% in July to $167 million at last check. Less than 0.2% of Fridays aggregate bitcoin options trading occurred on CME, according to Skew . Open interest on Deribit, which represented 93% of Fridays bitcoin options trading volume, has grown roughly 30% in July to $1.1 billion, down from $1.3 billion before the June expiry. CME bitcoin options market grew 10x within a 30-day period between May and June on the heels of record-breaking growth in its bitcoin futures market. Bitcoin is the only cryptocurrency traded on CME Group, and the exchange currently has no plans to launch additional cryptocurrency markets. Related Stories CME Bitcoin Options Flatline After Record Growth in June CME Bitcoin Options Flatline After Record Growth in June CME Bitcoin Options Flatline After Record Growth in June CME Bitcoin Options Flatline After Record Growth in June || Blockchain Bites: Coinbase’s Untraditional Investor Day and the Ethereum-EOS Arms Race in Latin America: Coinbase will host its first investor day, New York State prosecutors won a jurisdictional dispute involving Bitfinex and a protocol arms race is unfolding in Latin America. Here’s the story:
You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here.
Not Your Traditional Investor DayOn the same day Reuters reported Coinbase is looking to go public, the exchange scheduled itsfirst-ever investor day,for Aug. 14. Investor days can often signal a planned direct listing, Jamie McGurk, a former operating partner at Andreessen Horowitz, has said. “This will not be a traditional investor day, but rather an opportunity to hear our perspective on the cryptoeconomy and learn about Coinbase’s role in the ecosystem,” said Coinbase spokesperson Daniel Harrison.
Related:First Mover: Kyber Token's Eightfold Increase Reveals Bet on Future Market-Share Growth
Employment KerfuffleFormer Tron Foundation employees arechallenging a court orderallowing the foundation to settle a lawsuit through arbitration, rather than in court. The initial complaint centers around allegations of wrongful termination and hostile work practices at BitTorrent, a file-sharing service acquired by the Tron Foundation.
Appeal DeniedBitfinex will have toface allegations from New York State prosecutorsthat it lost $850 million in client and corporate funds and tried to cover this hole with funds from the affiliatedtetherstablecoin, according to a ruling by the State Supreme Court’s Appellate Division on Thursday. The exchange’s parent iFinex initially claimed the prosecutors didn’t have jurisdiction over the Hong Kong-headquartered firm, which the appeals court rejected. The court also dismissed the argument that tether was neither a commodity nor a security.
Canaan ShakeupThree Canaan Creative directors were dropped from the company’s business registry, promptingspeculation of a power grab.For months an internal power struggle between co-founders Micree Zhan and Jihan Wu has wracked the Nasdaq-listed firm, which has been suffering growing competition and reduced profits following the Bitcoin network’s programmatic halving.
Ethereum v. EOSEthereum and EOSIO are battling it out overenterprise blockchain businessacross Latin America. The square up pits ConsenSys in one corner and LatamLink in the other, a project backed by the Inter-American Development Bank, over which decentralized protocol will win the arms race.
• WikiLeaks online store now acceptsBitcoin Lightningpayments
• Crypto"giveaway" scamscontinue to flourish on YouTube
• A 35-year-old programmerpleaded guiltyto a $722 million (inbitcoin) Ponzi scheme
Related:Blockchain Bites: CENTRE's Blacklist, Brazil's Stablecoin Boom and Coinbase Is Going Public?
Venezuela’s Real Use CaseAfter airdropping cryptocurrency to 60,000 users in Venezuela, an AirTM survey gives a snapshot ofhow crypto is actually used in the economically troubled nation.
Venezuela is often a proving ground for do-gooding crypto companies and protocols. Payments network Dash, for one, famouslymade headwayin the nation beset by hyperinflation.
AirTM distributed approximately $300,000 worth of crypto to Venezuelans, and while only 57% of recipients engaged with the funds, many were able to successfully use the donations to buy food and medicines. Others began treating the AirTM platform as a personal bank.
The bigger picture is coming into focus: Crypto only becomes a viable alternative to traditional financial systems if there is robust infrastructure to support it. “If Venezuela offers an example of bitcoin usage, then it appears there is user demand for bitcoin-friendly services provided by a regular fintech company,” CoinDesk’s Leigh Cuen reports.
Balance Sheet Contractions. Bullish for Bitcoin?As the U.S. Federal Reserve begins to unwind its balance sheet,contracting $88 billion to $6.97 trillion(-1.5%) in the week ending July 8, some crypto observers are saying this could have negative consequences for bitcoin’s price. That’s because in recent months bitcoin has been positively correlated with traditional assets, which have rallied on the back of the Fed’s balance sheet expansion. But that’s far from the consensus view. “Zooming into the details of the Fed’s balance sheet reveals the reduction has been primarily driven by a drop in demand for emergency liquidity measures, a sign the coronavirus-induced stress in the financial system has eased,” CoinDesk’s Omkar Godbole writes.
Blockchain Credentials, Not CredentialismBlockchain certification can verify expertise and experience, making transferring schools and changing jobs easier. Butcertificate proliferation may be a bigger problem,argues Stephanie Hurder, a CoinDesk columnist and founding economist at Prysm Group. “Non-degree credentials, such as badges and certificates, in particular are rapidly multiplying because they can now be digitally transmitted and verified at a minimal cost,” she writes.
Inequality, Social Chaos, Bankruptcy RalliesFrom the “Robinhood Rally” to the most profit-disconnected stock market in history, these are the mostinteresting ideas from FinTwitlast month.
• Blockchain Bites: Coinbase’s Untraditional Investor Day and the Ethereum-EOS Arms Race in Latin America
• Blockchain Bites: Coinbase’s Untraditional Investor Day and the Ethereum-EOS Arms Race in Latin America || Zcash Latest Hard Fork ‘Heartwood’ Makes Mining Private: Privacy coinzcashhas successfully hard forked in the planned network update “Heartwood.” With the update, miners can receive coinbase transactions right to a private address, in addition to other new features.
The hard fork occurred on July 16 at 10:58 UTC atblock height 903,000, according to the Electric Coin Company (ECC), the for-profit development house behind the project. An uncontentious hard fork, Heartwood was supported by both the ECC and Zcash Foundation.
Read more:Zcash’s Funding Vote and the Woes of Decentralized Governance
Related:Market Wrap: What Twitter Hack? Traders Stay Busy Buying Bitcoin at $9,000
The update includes two Zcash Improvement Proposals (ZIPs). The first, “Shielded Coinbase” (ZIP 213) brings long-sought privacy solutions for Zcash (ZEC) mining while ZIP 221 “Flyclient” adds support for lightweight clients that verify transactions, the ECC said in a Marchblog.
As a hard fork, the updates are backward incompatible, meaning all nodes must sync to the new software in order to use the Zcash blockchain.
Heartwood is the privacy coin’s fourth hard fork since the network launched in late 2016. Zcash last hard forked in December 2019 with “Blossom.”
“The Zcash Foundation is excited to support the Heartwood Zcash upgrade alongside the ECC, and thrilled that users will soon be able to connect to the Zcash network using Zebra, an alternate, consensus-compatible Zcash implementation built by the Foundation,” Zcash Foundation Executive Director Josh Cincinnati said in an email to CoinDesk.
Related:Fidelity International Doubles Stake in Bitcoin Mining Firm Hut 8
(Zebrais an alternative Zcash client written in Rust).
Shielded coinbase transactions allow miners to claim coinbase transactions – the reward for processing transactions – directly to Zcash’s shielded addresses. Shielded addresses obfuscate information such as amounts, addresses and the encrypted memo field.
Implementing private coinbase transactions has been on the Zcash roadmap since the project’s early days. It was made possible by earlier technical updates found in 2018’s Sapling hard fork, according to theECC.
“With this feature, when a mining pool or solo miner chooses to move coinbase rewards, [its] now private. For example, a mining pool can perform shielded payouts to miners in a shielded transaction,” ECC CTO Nathan Wilcox said in an email to CoinDesk.
Flyclient allows users to verify transactions with the smallest amount of information possible. Similar to BitcoinSimplified Payment Verification(SPV) nodes, the spec proves the knowledge of a transaction using only the block header, rather than the full content of the block.
The ZIP has a few positive consequences for developers: It gives easier access to cross-chain interoperability, such as with the Ethereum network, and provides protection for light clients. The ECCannounced plansto build interoperability projects with the second-largest blockchain by market cap, Ethereum, at DevCon 5 this past October.
Read more:Zcash Will Get a Gateway Into Ethereum’s DeFi Ecosystem
“Right now, you need a Zcash full node to get full privacy. Our ZIP helps protect light clients from malicious servers and pushes towards full privacy for every wallet,” said ZIP co-author and Summa founder James Prestwich in a private message.
• Zcash Latest Hard Fork ‘Heartwood’ Makes Mining Private
• Zcash Latest Hard Fork ‘Heartwood’ Makes Mining Private || US Stock Market Enters Parabolic Price Move – Be Prepared, Part II: In the first part of this research article, we briefly discussed the recent price and global economic events related to the 2018 to 2020 US stock market volatility and the COVID-19 virus event. The premise of this research post was to highlight the current upside parabolic price trend that initiated shortly after the 2015~16 US election cycle event. It is almost impossible to look at the NAS100 chart, below, and not see the dramatic upside price advance that took place after the November 2016 US elections. It is almost as if the US stock markets had been primed by Federal Reserve intervention over the previous 5+ years and someone let the monster out of the cage. The deregulation, changes to tax structures and general perception of market opportunity changed almost immediately after the November 2016 elections and really never looked back. BUBBLE PSYCHOLOGY & PROCESS A close friend of mine suggested the current tax structures provide a very clear advantage for corporations which allows them to retain a minimum of 14% more revenue annually. This is a huge advantage for any profitable US corporation when one considers all aspects of tax laws. Additionally, President Trump changed the system from a “global” to a “territorial” structure. (Source: https://en.wikipedia.org ) This provided additional tax reductions for multi-national corporations and prompted US companies to stay within the US. These new tax laws had a major impact on the bottom line after-tax revenues for thousands of US companies over the past 3+ years. Yet, one has to earn a profit to be able to take advantage of these tax law changes and the COVID-19 virus event has put a serious dent in the earning capabilities of thousands of the US and foreign companies. The Redbook YoY data, representing Retail and Consumer Merchandise activity, has continued to post negative levels that appear to be far greater than at any time over the past 20+ years. Story continues How can one rationalize the upward parabolic price trend continuing while the consumer sector, the largest segment of US GDP, has collapsed to levels that are more than double those of the 2008-09 credit crisis? The only answer in our minds is that a euphoric “bubble” has set up in the minds of speculative and foreign traders. This “bubble psychology” takes place when certain factors have been put into place. Typically, these factors include _Displacement: when new technology, process, innovation or product/production capabilities disrupt and displace existing technologies. This creates an opportunity for traders and investors to “shift focus” and creates a new, untested, valuation process for the company or asset. _Credit Creation: when central banks act in a manner to support the credit market, capital investment, and corporate enterprise. This creates the opportunity for new enterprises, businesses, and corporations to “startup” and creates a facility for capital investment from speculators, traders, VCs, and investors. _Euphoria: the feeling that nothing can go wrong. You can invest in almost anything and make money. You could stand on the corner and sell empty cardboard boxes for $400 all day long because something thought they could “flip them” for $800 to the next person that walked by. This euphoria phase is a “self-feeding frenzy” that improperly validates very destructive behavior. In this phase, everyone feels utterly fantastic – until… Now, you have to start asking yourself a few questions at this point in time.. Have we seen any of these phases over the past 10+ years? If so, how far along are we into these phases? Bitcoin was a displacement component that didn’t really start to take off until 2011~2013. After that initial rally, it launched into a euphoric phase with the historic rally to $13,880. WeWork was another displacement component – promising a high-level remote work environment for the Gig/Millennial workers of the world. It built a foundation, found Softbank to back it, rallied to extreme valuations – then what? Hundreds of other displacement companies exist that have yet to deliver any proven profits. Their valuations are incredible and their believers continue to pour more and more capital into them with the expectation that “nothing can go wrong”. All of this reminds me of the Beanie-Baby craze years ago. What next? Financial Distress: when traders and investors begin to pull away from the euphoria and begin to revalue their belief in the ability of the displacement company to really engage in huge revenue creation. When more and more traders and investors begin to move in this direction, suddenly we see a change in how people really value assets and future expectations. The displacement company that everyone loved 5 months ago becomes the distressed company that everyone questions. And this leads to… _Revulsion: when trust in the markets and valuation levels is completely lost to almost everyone. This is what I like to call the “shock-wave” of the bubble. And this revaluation process leads everyone to run for the exits before the last bobblehead on TV suggests “this is only temporary, buy everything and you’ll be really happy in 20+ years – don’t worry”. THE SETUP Our research team believes we are very near to the “financial distress” phase of bubble psychology as a result of the COVID-19 virus event and the disruptions to the financial markets in 2018 and 2019. A number of critical “blips” took place over this time that very few people really paid attention to. _ The revised corporate tax laws created a revenue source for all existing corporations that prompted a massive push for capital to be deployed in the US stock market. That 14%+ extra revenue suggested that everyone would see increased bottom line profits if they could make a profit. _ The Case-Schiller US National Home Price Index has risen almost 70 points since 2013 (just over 7 years ago). The only other time in history the Case-Schiller US National Home Price Index has risen that fast was between 2001 and 2007. Consider that for a moment. _ The US Fed burped up an error in August 2018. This error prompted a change in future guidance from the US Fed from a hawkish Fed to a very dovish Fed. Basically, the markets collapsed on Fed comments and the Fed became more accommodating – almost immediately. _ Speculative investments (both foreign and domestic) pushed to higher and higher levels. Homes flipped. Cars flipped. Everything flipped and traders/investors pour billions into the US technology markets and other sectors because “nothing could go wrong”. Even as we knew the world was upended by geopolitical trade issues, foreign credit collapse events, BREXIT and dozens of other issues near the end of 2019, the US stock market rallied to new highs well into February 2020 – even though we knew the Corona Virus was making its way around the world and could be a complete disaster. Then, the first phase of the financial distress hit – February 24, 2020. That big bad day when the markets suddenly realized “uh oh – this could be bad” and traders/investors throughout the world watched as almost the entire globe “shut down” because of the COVID-19 virus. What does that to the earning capabilities of almost all of the global corporations and businesses? How are they going to be able to sustain revenues to take advantage of those tax breaks when their businesses have collapsed by 40%, 60%, 80%, or more? Is everything going to go back to the euphoric party mode or not? Right now, the Fed has again come to the rescue with more credit and the markets ate it up like cotton-candy covered in gum-drops. Everyone wanted to get back to that euphoric feeling so badly, they jumped into the markets almost as soon as they heard that the US Fed would “intervene” – off we go into parabolic trending. If you are starting to understand what we are attempting to illustrate for you, then you already know how this article ends. The parabolic price trends we’re seeing right now are likely the end stage of a hyper-inflated, credit-fueled price trend. Yes, they could continue to rally much higher from current levels. Or, it could all suddenly come to a stop as Q2 comes to a close and everyone starts to suddenly realize “uh oh – that’s not good”. We’ve been warning our client and followers for almost 10+ months that our super-cycle research suggested the end of 2019 and all of 2020 and 2021 were going to be incredibly volatile periods in the markets. We warned that traders needed to start investing in Gold and Silver back in 2017 and 2018 – to hedge against risks. We issued a Black Swan warning on February 21, 2020 – just days before the markets collapsed as a result of the COVID-19 virus. Now, we’re warning that this current parabolic upside price trend near the end of Q2:2020 could be a massive setup for one of the biggest “revaluation” events we’ve seen since 1999~2000 (the last big bubble). Our researchers believe a shift away from the global financial speculation that has driven a total global asset bubble over the past 8+ years will suddenly shift away from wild speculative euphoria and quickly transition into the realization phase of “uh oh, what have we done”. It is this point that we suddenly enter a financial distress phase where investors flee over-inflated assets to move into risk hedging strategies. Why do you think Gold has rallied to levels near $1800 over the past 4+ years? A certain segment of global investors has already had their “uh oh” moment. The US stock market has gone parabolic because a very unique set of circumstances have come together at this particular time in history. Now, we have to deal with the current and future phases of this cycle and prepare for what’s next. Protect your open long trades and/or take some profits out now. If our research is correct, we have already entered the Financial Distress phase. Q2: 2020 may be the catalyst event and that is only a few days away. Get our Active ETF Swing Trade Signals or if you have any type of retirement account and are looking for signals when to own equities, bonds, or cash, be sure to become a member of my Passive Long-Term ETF Investing Signals which we are about to issue a new signal for subscribers. For a look at all of today’s economic events, check out our economic calendar . Chris Vermeulen Chief Market Strategies Founder of Technical Traders Ltd. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural Gas Markets Plunge After Bearish Inventory USD/CAD Daily Forecast – Canadian Dollar Remains Under Pressure USD/JPY Price Forecast – US Dollar Slams Into Familiar Price Trump attacks an EU on its Knees. Does the World Need Such a Man Holding the Football? US Stock Market Overview – Stocks Rise Led by Financials; Durable Goods Surge US Stock Market Enters Parabolic Price Move – Be Prepared, Part II || First Mover: Why Bitcoin Traders Couldn’t Give a Sat About the Twitter Hack: Cryptocurrency traders yawned at one of the year’s biggest news stories for bitcoin, with prices barely budging as the digital-asset industry became a primary victim of this week’s massive hack on Twitter accounts. The notoriously volatile bitcoin slid just 0.8% to about $9,100 on Thursday after slipping a meager 0.7% on Wednesday as the news hit. That’s in a market where it’s not uncommon, at least until recently , for prices to swing 8% in a day. You’re reading First Mover , CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here . Related: The Origins of the World's Oldest Bitcoin Metric, Explained “It’s a non-event for price,” Matt Blom, head of sales and trading for the cryptocurrency firm Diginex , told First Mover in an email. Scamming people out of their bitcoin was, at least on the surface, the goal of what the social-media platform called a “coordinated social engineering attack.” The hackers took over the Twitter accounts of the cryptocurrency exchanges Binance, Coinbase and Gemini, as well as those of celebrities including former Vice President Joe Biden and Microsoft founder Bill Gates. CoinDesk got hit, too. As clues on the attack continue to trickle out, cryptocurrency analysts have begun to unpack the market implications for bitcoin – some positive and some negative – and why it all washes out. “I think you did not see much market reaction because it was unclear what narrative would develop following the breach, and so traders were frozen,” John Todaro, of the cryptocurrency research firm TradeBlock, wrote in an email. Story continues Related: Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100 1) The scale of the bitcoin obtained was relatively small. PRICE IMPACT: NEUTRAL. The bitcoin obtained through the hack amounted to roughly $120,000, a tiny fraction of the cryptocurrency’s $168 billion market capitalization . Less than one 10-millionth, in fact. That’s not too far off from the scale of the satoshi, or “sat,” which is the smallest unit of bitcoin, at one 100-millionth. Last year alone, there were at least seven major cryptocurrency exchange hacks , including $ 40 million from Binance and $49 million from South Korea’s Upbit . “The one thing that could have made it a bigger deal is if the hackers got more than $100K,” Martin Garcia, managing director at the cryptocurrency trading firm Genesis, wrote in an email. “If they had raised like $100 million, then I guarantee BTC would have sold off, as the market would have expected the hackers to sell to fiat somewhere, crushing the price. But given the amount, no big deal.” (Genesis is owned by the investment firm Digital Currency Group, which also owns CoinDesk.) 2) No publicity is bad publicity. PRICE IMPACT: POSITIVE. The episode could aid bitcoin’s name recognition, which theoretically could accelerate consumer adoption, at least on the margin. News articles about the hack appeared in the New York Times , Wall Street Journal and many other mainstream U.S. publications. The story was widely discussed on Twitter . Interest in the keyword “bitcoin” briefly surged on Google . “While I don’t condone the incident in any way, I must admit I’m pleased to see the rapid surge in popularity of bitcoin it has caused,” Jay Hao, CEO of the cryptocurrency exchange OKEx, wrote in a post on LinkedIn . “The hack itself is unfortunate, of course, but thanks to Twitter, bitcoin is grabbing the headlines again, and that can only be a good thing in the push to wider adoption.” 3) The episode could invite further regulatory and law-enforcement scrutiny of bitcoin and other cryptocurrencies. PRICE IMPACT: NEGATIVE. The FBI said Thursday it’s investigating the event . U.S. Senator Josh Hawley, a Missouri Republican, called on Twitter to cooperate . New York Governor Andrew Cuomo directed the state to conduct a full investigation . “Yesterday’s attack targeted the Twitter accounts of virtual currency companies,” Linda Lacewell, superintendent of the New York Department of Financial Services, said in a statement. “The department will leverage its deep expertise to bring the facts to light.” 4) The attack highlights the benefits of bitcoin’s decentralized network. PRICE IMPACT: POSITIVE. The fact Twitter’s systems appear to have been hacked could redirect attention to the fact that the Bitcoin blockchain is a distributed network of computers, reducing central points of failure or weakness. “It showcases weaknesses in centralized systems and a need for more decentralized applications,” Lennard Neo, head of research at Stack Funds, told First Mover in a WhatsApp message. 5) Early efforts to track down the perpetrator and scammed bitcoin highlight the transparency of the blockchain network. PRICE IMPACT: POSITIVE. Private cryptocurrency-forensic firms including Chainalysis, CipherTrace and Elliptic have already started to probe the event, using publicly available data from the Bitcoin blockchain. As reported by CoinDesk’s Will Foxley, it appears the hacker was a trader on the crypto derivatives exchange BitMEX , and it’s pretty straightforward to document the inflows of bitcoin into the hacker’s listed account address as the scam unfolded. “You can track the crypto coming into the hacker crypto addresses,” the Binance-owned data website CoinMarketCap wrote Thursday in a blog post . 6) Bitcoin is worth stealing. PRICE IMPACT: POSITIVE. The billionaire investor Warren Buffett has said that bitcoin has “ no value .” If that was the case, why steal it? “If anything, it just proves that bitcoin is a form of a valuable money that a hacker might want,” Jeff Dorman, chief investment officer of the cryptocurrency investment manager Arca , told First Mover in an email. 7) Cryptocurrency is so frequently used in scams that the latest episode isn’t really all that surprising. PRICE IMPACT: NEUTRAL. “To say that everybody now knows that hackers prefer bitcoin has no effect, because everybody knows that already,” Mati Greenspan, founder of the cryptocurrency research firm Quantum Economics, said in a phone interview. 8) The event could raise awareness of the imperative for security precautions among new cryptocurrency investors. It also might scare some would-be investors away. PRICE IMPACT: NEUTRAL. CoinDesk’s Leigh Cuen reported Thursday that many authentic Twitter users were no longer able to tweet bitcoin addresses . “That has a huge silver lining, because it’s not good practice to publish your public key,” Greenspan said. “That’ll probably save a couple noobs from making noob mistakes.” Tweet of the day Bitcoin watch BTC : Price: $9,115 ( BPI ) | 24-Hr High: $9,157 | 24-Hr Low: $9,066 Trend : Bitcoin continues to stubbornly trade within a tight range above $9,000. The leading cryptocurrency hasn’t had a 5% daily move for 24 straight days, the longest stretch of such low daily volatility since the end of March 2019. Prolonged periods of price consolidation tend to end with a sudden violent move on either side. So far, however, the cryptocurrency has refused to wake from its multi-month slumber. Technical studies indicate scope for a price drop in the short-term. For instance, the four-hour chart shows a failed breakout, a bearish sign. Meanwhile, the daily chart MACD histogram, an indicator used to identify trend strength and trend changes, has crossed below zero in favor of the bears. In addition, put options (or bearish bets) expiring in one- and three-months are drawing higher prices (or stronger demand) than call options (or bullish bets). As such, it seems traders are anticipating a sell-off. Immediate support is located at $9,000, which if breached, would shift the focus to $8,630 – the support of the higher low created on May 27. Meanwhile, resistance is seen at $9,480 (July 8 high). A move above that level is needed to invalidate a bearish lower-highs setup on the 4-hour chart and open the doors for $9,800-$10,000. Related Stories First Mover: Why Bitcoin Traders Couldn’t Give a Sat About the Twitter Hack First Mover: Why Bitcoin Traders Couldn’t Give a Sat About the Twitter Hack || Bitcoin and Ripples XRP Weekly Technical Analysis August 3rd, 2020: Bitcoin Bitcoin rallied by 11.11% in the week ending 2 nd August. Following on from a 7.77% gain from the previous week, Bitcoin ended the week at $11,053.8. It was a bullish week for Bitcoin and the broader market. Bitcoin slipped to a Monday intraweek low $9,944.9 before making a move. Steering clear of the first major support level at $9,339, Bitcoin rallied to a Sunday intraweek high $12,097.0. Bitcoin broke through the weeks major resistance levels before sliding back to sub-$11,000 levels. Bitcoin fell back through the third major resistance level at $11,835 and the second major resistance level at $10,800. Steering well clear of the first major support level at $9,339, however, Bitcoin broke back through the first major resistance level. 5 days in the green that included an 11.01% rally on Monday and 4.01% gain on Saturday delivered the upside for the week. A 6.36% slide on Sunday reversed some of the gains, however. For the week ahead Bitcoin would need to avoid a fall through $11,032 pivot to bring the first major resistance level at $12,119 into play. Support from the broader market would be needed for Bitcoin to break out from last weeks high $12,097. Barring another extended crypto rally, the first major resistance level would likely cap any upside. In the event of a breakout, Bitcoin could take a run at the second major resistance level at $13,184. Failure to avoid a fall through the $11,032 pivot would bring support levels into play. Barring a broad-based sell-off, Bitcoin should avoid sub-$10,500 levels and the first major support level at $9,967. At the time of writing, Bitcoin was up by 0.87% to $11,150.0. A mixed start to the week saw Bitcoin fall to an early morning low $10,943 before rising to a high $11,200 on Monday. Bitcoin left the major support and resistance levels untested at the start of the week. Ripples XRP Ripples XRP surged by 33.50% in the week ending 2 nd August. Following on from a 7.8% gain from the previous week, Ripples XRP ended the week at $0.28764. Story continues A mixed start to the week saw Ripples XRP fall to a Monday intraweek low $0.20949 before making a move. Steering clear of the first major support level at $0.19669, Ripples XRP rallied to a Sunday intraweek high $0.32620. Ripples XRP broke through the major resistance levels sliding back to sub-$0.25 levels. The pullback saw Ripples XRP fall through the third major resistance level at $0.27739 and the second major resistance level at $0.24422. Finding late support, however, Ripples XRP broke back through the second major resistance level to end the week at $0.28 levels. 6-days in the green that included a 12.01% rally on Saturday delivered the upside for the week. For the week ahead Ripples XRP would need to avoid a fall through the $0.27434 pivot to support a run at the first major resistance level at $0.33950. Support from the broader market would be needed, however, for Ripples XRP to break out from last weeks high $0.32620. Barring another extended crypto rally, the first major resistance level would likely cap any upside. In the event of another breakout, the second major resistance level at $0.39135 and $0.40 levels could come into play. Failure to avoid a fall through the $0.27434 pivot would bring the first major support level at $0.22249 into play. Barring an extended broader-market sell-off, however, Ripples XRP should steer of sub-$0.24 levels in the week. At the time of writing, Ripples XRP was up by 2.59% to $0.29510. A mixed start to the week saw Ripples XRP fall to an early Monday low $0.28383 before rising to a high $0.29958. Ripples XRP left the major support and resistance levels untested at the start of the week. This article was originally posted on FX Empire More From FXEMPIRE: OIL Break Below 38.80 is Possible as the Price is Bearish Euro Area Safe Assets to Rise by Almost EUR 2.5trn Over Coming Years, Boosting the Euros Standing Latest Surge in Risk Assets to Be Challenged by Data and US Congress European Equities: Economic Data and the U.S Stimulus Bill in Focus Bitcoin and Ripples XRP Weekly Technical Analysis August 3rd, 2020 Starbucks Could Test March Low || Market Wrap: Bitcoin Sticks to $11,000; Derivatives, DeFi Keep Growing: Bitcoin, crypto derivatives and DeFi continue to be hot in late July. Bitcoin (BTC) trading around $11,236 as of 20:00 UTC (4 p.m. ET). Gaining 2% over the previous 24 hours. Bitcoin’s 24-hour range: $10,844-$11,312 BTC above 10-day and 50-day moving averages, a bullish signal for market technicians. Just one week ago, bitcoin’s price hit an intraday high of $9,568 in a low-volume environment. This week’s action, fueled by increased exchange volumes, has traders excited at the thought a long-term bull market may be back. As much as $446 million in trades were done on Coinbase Monday. Read More: Bitcoin Looks Overbought but Analysts Play Down Drop Fears Related: Ether Addresses in Profit Have Soared 132% in a Year “The market has clearly jumped to a bullish stance,” said Vishal Shah, and options trader and founder of derivatives exchange Alpha5. “Volatility is higher and we’re now looking at the previous resistance of $10,550 as our new support region.” Some analysts say the move to $11,000 is just the start of the world’s oldest currency continuing on a price tear upward. “We do not see the move to $11,000 as significant and we are anticipating far higher valuations,” said George Clayton, managing partner of Cryptanalysis Capital. Clayton noted the European Union passed a €570 billion stimulus measure, and a U.S. package in the works that could provide $1 trillion in new spending should an agreement between President Trump and Congress be reached. “These actions amount to rampant fiat currency debasement. The move in crypto is just beginning,” he added. The crypto derivatives market is heating up again too, Shah added. “What’s most interesting to me is that CME volumes have been very strong the last two days.” Indeed, CME options volume has picked up significantly during a July that had previously been bereft of action; open interest is now well over $250 million. Story continues Related: CoinDesk Live Recap: The DAO Hack Is Still a Mystery Andrew Tu, an executive at quantitative trading firm Efficient Frontier, cautions the performance of equities plays a bigger role in the cryptocurrency markets than many might realize, especially if stocks take a dive. “A correction in traditional markets due to deteriorating fundamentals could also cause pullbacks in the crypto world,” Tu noted. Read More: MIT Lightning Creator Unveils First ‘Demonstration’ of Bitcoin Scaling Tech Balancer user count up 140% in July Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Wednesday, trading around $322 and climbing 1% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: How the EEA Made Ethereum Palatable to Big Business At the start of July, the total user count on the Balancer exchange was 7,184, according to data aggregator Dune Analytics. The number has swelled 140%, to 17,438 since then for the Ethereum-based DeFi project. “Balancer made an excellent product that allows you to create your own ETF and not pay a rebalancing commission and actually receive commissions for trading,” said Azamat Malaev, co-founder of HodlTree, a new DeFi protocol for interest-yielding tokens. Malaev also noted Balancer’s BAL token distribution and staking returns as another factor contributing to July’s growth, even though the token’s performance slipped 25% over the past 30 days, according to CoinGecko. “Balancer uses the Compound model in distributing their tokens. Now the percentages are lower, about 30% per annum, but also very attractive.” Read More: Why DeFi on Ethereum Is Like Algorithmic Trading in the ‘90s Other markets Digital assets on the CoinDesk 20 are mixed Wednesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): iota (IOTA) + 6.1% xrp (XRP) + 5.5% dash (DASH) + 3.6% Read More: Proof-of-Stake Chains Team Up to Prove DeFi Is Bigger Than Ethereum Notable losers as of 20:00 UTC (4:00 p.m. ET): bitcoin gold (BTG) – 3.8% litecoin (LTC) – 2.1% bitcoin sv (BSV) – 2% Read More: Digital Yen Now ‘Top Priority’ for Japan Central Bank, Says Senior Official Equities: Asia’s Nikkei 225 ended the day down 1.15%, dragged lower by Canon, which dropped over 13% after reporting its first-ever quarterly loss . Europe’s FTSE 100 closed down 0.01% on cautious sentiment of economic recovery versus continued growth in coronavirus cases on the continent . The United States’ S&P 500 gained 1.4%, pushed higher by tech stocks while the Federal Reserve left interest rates unchanged . Read More: Crypto Traders ‘Greedy’ as Goldman Warns on Dollar Commodities: Gold is up 0.60% at $1,969 as of press time. Oil is up 0.33%. Price per barrel of West Texas Intermediate crude: $41.24 Read More: Crypto Wallet Maker Ledger Loses 1M Email Addresses in Data Theft Treasurys: U.S. Treasury bonds were mixed Wednesday. Yields, which move in the opposite direction as price, were down most on the two-year, in the red 13%. Read More: What Crypto Lender Celsius Isn’t Telling Its Depositors Related Stories Market Wrap: Bitcoin Sticks to $11,000; Derivatives, DeFi Keep Growing Market Wrap: Bitcoin Sticks to $11,000; Derivatives, DeFi Keep Growing || Frank Holmes to Present at the SNN Network Virtual Investor Conference on Monday, August 3, 2020: SAN ANTONIO, TX / ACCESSWIRE /August 3, 2020/U.S. Global Investors, Inc. (NASDAQ:GROW) ("the Company"), a boutique registered investment advisory firm specializing in gold and precious metals, natural resources and emerging markets, today announced that it will be presenting at the SNN Network Virtual Investor Conference on Monday, August 3 at 9:30 AM EST. CEO and Chief Investment Officer Frank Holmes will be hosting the presentation and answering questions from investors.
Besides serving as the CEO and CIO of U.S. Global Investors, Mr. Holmes is also the interim executive chairman at HIVE Blockchain Technologies, Ltd. (TSX.V:HIVE) (OTCQX:HVBTF), which will also be presenting. HIVE, the world's first publicly traded company involved in the mining of cryptocurrencies, including Bitcoin and Ethereum, will present on Monday, August 3 at 9:30 AM EST.
To access the live presentation, please use the following information:
SNN Network Virtual Investor Conference 2020
Date: Monday, August 3, 2020
Time: 9:30 AM EST (GROW) and 11:00 AM EST (HIVE)
Webcast for GROW:https://www.webcaster4.com/Webcast/Page/2059/35926
Webcast for HIVE:https://www.webcaster4.com/Webcast/Page/2059/35933
If you would like to book one-on-one investor meetings with U.S. Global Investors or HIVE, please make sure you are registered for the virtual event here:https://conference.snn.network/signup
One-on-one meetings will be scheduled and conducted via private, secure video conference through the conference event platform.
If you can't make the live presentation, all company presentations "webcasts" will be available directly on the conference event platform on this link under the tab "Schedule."
News Compliments ofAccesswire
About U.S. Global Investors, Inc.
The story of U.S. Global Investors goes back more than 50 years when it began as an investment club. Today, U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on niche markets around the world. Headquartered in San Antonio, Texas, the Company provides money management and other services to U.S. Global Investors Funds and U.S. Global ETFs.
About SNN.Network
SNN.Network is your multimedia financial news platform for discovery, transparency and due diligence. This is your one-stop hub to find new investment ideas, check in on watchlist, gather the most up-to-date information on the Small-, Micro-, Nano-Cap market with the goal to help you towards achieving your wealth generation goals. Follow the companies YOU want to know more about; read and watch content from YOUR favorite finance and investing influencers; create YOUR own watchlist and screen for ideas YOU'RE interested in; find out about investor conferences YOU want to attend - all here on SNN.Network.
If you would like to attend the SNN Network Virtual Investor Conference, please register here:https://conference.snn.network/signup
Contact:
Name: Holly SchoenfeldtPhone: 210.308.1268Address: 7900 Callaghan Rd. San Antonio, TX 78299Email:hschoenfeldt@usfunds.com
SOURCE:U.S. Global Investors via Planet MicroCap Showcase
View source version on accesswire.com:https://www.accesswire.com/598707/Frank-Holmes-to-Present-at-the-SNN-Network-Virtual-Investor-Conference-on-Monday-August-3-2020
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 11592.49, 11681.83, 11664.85, 11774.60, 11366.13, 11488.36, 11323.40, 11542.50, 11506.87, 11711.51
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-07-11]
BTC Price: 6394.71, BTC RSI: 43.85
Gold Price: 1242.80, Gold RSI: 32.62
Oil Price: 70.38, Oil RSI: 49.80
[Random Sample of News (last 60 days)]
Airbus Will Suffer From President Trump's Iran Deal Exit: It didn't come as much of a shock last week when President Donald Trump pulled the plug on a 2015 agreement that eased economic sanctions on Iran in exchange for limits on Iran's nuclear enrichment program. After all, Trump had long characterized the agreement as a "bad deal." The reimposition of U.S. sanctions throws a wrench into the plans of companies that had started doing business with Iran. Aerospace is one sector that will be hit particularly hard, as Iranian airlines had been desperate to upgrade and expand their fleets. However, the U.S. withdrawal from the Iran deal will hurt Airbus (NASDAQOTH: EADSY) a lot more than Boeing (NYSE: BA) . Boeing hasn't been counting on Iran Two years ago, with the pace of aircraft orders slowing, Airbus and Boeing were eager to line up orders from Iranian airlines. Both companies signed big deals with Iran Air during 2016. Agreements with smaller Iranian airlines followed. The deal that Boeing eventually struck with Iran Air called for the carrier to buy 80 aircraft, consisting of 50 737 MAX 8s, 15 777-300ERs, and 15 777-9s. In 2017, Iran Aseman Airlines signed a letter of intent for 30 737 MAX planes, bringing Boeing's total orders from Iran to 110 aircraft. However, Boeing never received licenses from the U.S. government that would allow it to export aircraft to Iran, and so it never included these deals in its firm order book. A Boeing 777-300ER flying over mountainous terrain Boeing never formally booked any of its orders from Iran-based airlines. Image source: Boeing. Boeing doesn't need orders from Iran for the popular 737 family, which had 4,673 firm orders as of the end of April. (That's equivalent to roughly seven years of production.) The potential 777 orders from Iran Air were far more valuable. Nevertheless, Boeing has been able to sell out its delivery slots for the next couple of years without relying on deliveries to Iran Air . Just last week, Boeing sold another four current-generation 777s to Lufthansa Group . Story continues Airbus has a much bigger problem on its hands Like Boeing, Airbus doesn't need the narrowbody orders it received from Iran. Indeed, the A320 family has an even bigger backlog than Boeing's 737 family. However, Airbus is in a much more precarious situation with respect to widebodies. Iran Air ordered more than 50 widebodies from Airbus, all of which were included in the plane maker's firm order book. The carrier currently has outstanding orders for eight A330-200s, 28 A330-900neos, and 16 A350-1000s -- all of which will have to be canceled because Airbus planes use a high volume of American-made components. A rendering of the A330-900neo in flight Iran Air accounted for more than 10% of Airbus' A330 family order backlog. Image source: Airbus. Airbus can afford to lose the A350 orders, as that model has a substantial backlog. The same can't be said for the A330. Airbus only has one A330 order year to date, which has been offset by six cancellations. As a result, the company announced last month that it would cut A330 production to around 50 units in 2019, down from 60 this year. Losing the 36 Iran Air orders will make this bad situation worse . The backlog for current-generation A330s will fall to 78 from 86 at the end of April, while the A330neo order book will fall from 214 units to just 186. More than a third of those remaining A330neo orders are for AirAsia X, which has been waffling on its long-term fleet plans, and another third are for aircraft lessors, which typically prefer to buy the most popular aircraft models. Thus, it is becoming more and more urgent for Airbus to shore up the A330 order book with new deals. A missed opportunity versus a potential crisis For Boeing, the U.S. withdrawal from the Iran nuclear deal represents a missed opportunity. If Boeing had been able to go ahead with its planned aircraft sales to Iran, it wouldn't have needed to cut 777 production as much as it has in the past year -- and it may have been able to ramp up output faster after the 777X introduction in 2020. However, the loss of this opportunity won't impact Boeing's results much relative to the status quo. By contrast, Airbus desperately needed the A330 orders it had received from Iran Air. Without them, Airbus may be forced to offer even deeper discounts to rebuild its A330 order backlog and avoid further production cuts. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinberg has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Do I Have to Collect Sales Tax?: Whether you're the owner of a small restaurant with seven employees, a beekeeper who sells honey at farmers markets, or someone who makes and sells jigsaw puzzlesonline, you might reasonably be wondering, "Do I have to collect sales tax?"
There's a good chance that the answer is yes. But there are some circumstances in which you don't have to collect sales tax.
Image source: Getty Images.
The U.S. federal government doesn't levy a sales tax, but each state has the right to charge sales tax, and many states permit local governments to charge a sales tax, too. According to the Tax Foundation, the number of states charging a sales tax is 45 (plus the District of Columbia), and local sales taxes are collected in 38 states. The five states charging the highest total state and local sales taxes are:
[{"State": "Louisiana", "State and Local Sales Tax Total": "10.02%"}, {"State": "Tennessee", "State and Local Sales Tax Total": "9.46%"}, {"State": "Arkansas", "State and Local Sales Tax Total": "9.41%"}, {"State": "Washington", "State and Local Sales Tax Total": "9.18%"}, {"State": "Alabama", "State and Local Sales Tax Total": "9.10%"}]
Data source: The Tax Foundation.
The states without a state sales tax are Alaska, Delaware, Montana, New Hampshire, and Oregon, though Alaska and Montana permit local sales taxes.
It's not only tax rates that vary by state, but also what is taxed. Not every kind of purchase gets slapped with a sales tax. Prescription drugs, for example, are often excluded from sales taxes, as is food -- though sometimes food purchased at restaurants is taxed, while food bought at grocery stores is not. Some states exempt clothing, too. Many services face a sales tax, too, such as car repairs, landscaping services, dog grooming, business services, and amusement or entertainment venues. Interestingly, many services performed by licensed professionals such as doctors, dentists, lawyers, accountants, and the like are often exempted (to some degree, that's because their trade organizations have been able to lobby effectively).
Another often-exempt category is that of raw materials or items in the process of manufacturing. It's typical that sales taxes focus on the end user or consumer, so that when companies buy raw materials with which to make goods, they're not taxed on those purchases, with the taxation happening only when the item is completed and sold.
Clearly, whetheryouhave to collect sales tax for whatever products or services you provide will depend on a bunch of factors, such as whether your state has state or local sales taxes and what, exactly, is subject to those taxes. It also gets more complicated if you're selling anything across state lines. To get the most definitive answer for yourself, check withyour state's tax department.
Here's some useful background info, though. For starters, it's good to understand the concept of "nexus," which is a fancy term in the world of sales tax that refers to a physical presence that's sufficient to trigger the tax. Perhaps obviously, if you live and work in a particular state and all your sales occur there, too, that's a nexus, making it likely that you'll have to collect sales tax. It gets more complicated if you're selling across state lines. If your business is in one state and you sell to someone in another state where you have no business footprint, you likely won't have to collect sales tax. But sometimes simply having employees in that state, or employees who travel and make sales call in the state, or even if you just hold some business property (including patents) in that state, you may be subject to collecting sales tax. Again, the rules will vary by state.
Note that per the current rules, most peopleselling goods onlineto people around the country or world will not have to collect sales tax. That rule is being challenged, though, due to the ever-growing prominence of online commerce. The Supreme Court was deliberating the issue (in theSouth Dakota v. Wayfair, Inc.case) when this article was published and a decision may have been rendered by the time you read it.
So let's say that you do have to collect sales tax in your line of business. How do you do so? Well, first look into whether your state requires you to get a sales tax permit or seller's permit or license to sell -- either from the state or from your local government.
Keep in mind, too, that it can be tricky figuring out what to charge customers in various places, as sales tax rates vary so widely. In fact, some sales taxes are based on where your business is located, while others are based on where the buyer is located. The rules will depend on your state.
Thus, look for any help you can get. If you have an online store that you manage yourself, you might want to use some checkout service that handles the sale tax calculations and management. If you are selling via some big online marketplaces, they may do the math for you and collect the appropriate amount from the customer. Some services for small businesses and online sellers, such asTaxJar.com, will manage your sales tax collection, too, and even file sales tax returns for you.
Taxesmay not be the most exciting topic, but the more you know about them, the smarter tax decisions you'll likely make, potentially saving yourself some trouble and money.
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The Motley Fool has adisclosure policy. || CRISPR Could Cause Cancer? Here Are 3 Reasons Investors Shouldn't Panic: First do no harm.
That's a core principle for treating patients. But a promising gene-editing method calledCRISPR-Cas9could potentially harm patients. Two papers published inNature Medicineon Monday raised concerns that using CRISPR-Cas9 to edit genes could increase the chances that cancer cells develop.
The stocks ofCRISPR Therapeutics(NASDAQ: CRSP),Editas Medicine(NASDAQ: EDIT), andIntellia Therapeutics(NASDAQ: NTLA)plunged on the news. All three of these biotechs are pioneering development of gene-editing therapies using CRISPR-Cas9.
But should investors panic because of the possibility that CRISPR-Cas9 could cause cancer? Not at all. Here are three reasons why you should remain calm.
Image source: Getty Images.
Do initial research findings in the scientific community sometimes prove to be incomplete or even incorrect? Absolutely. It has even happened relatively recently with CRISPR-Cas9.
In May 2017, a paper was published inNature Methodsthat stated CRISPR-Cas9 could cause hundreds of unintended mutations. This news caused investors to worry that the gene-editing approach could prove to be seriously flawed. CRISPR Therapeutics, Editas Medicine, and Intellia Therapeutics stocks tanked. Sounds familiar, right?
However, less than a year later, the authors of that study issued a retraction and posted an error correction to another scientific website. It turned out thattheir initial findings were wrong.
Now, that might not happen in this case. I think it probably won't. However, the bottom line is that it's still early. More research will need to be conducted to determine if there really is a clear link between using CRISPR-Cas9 and increased risk of cancer and, if there is, how significant that risk is.
It's important to understand what the two papers published this week stated. Basically, the research found that when CRISPR-Cas9 is used to edit DNA sequences, most cells try to repair the DNA damage. However, this response doesn't occur in cells with dysfunctional p53 genes. As a result, CRISPR-Cas9 works better in these cells.
The problem is that cells with p53 gene mutations have been associated with higher risks of several types of cancer. These mutations occur in nearly half of ovarian cancer cases and in over 40% of cases of larynx, head and neck, esophageal, and colorectal cancer.
Here's what you should really know, though: This issue should only be a factor when CRISPR-Cas9 is used to delete DNA sequencesandinsert a new DNA sequence, a process referred to as gene correction. But when only gene disruption -- the deletion of a DNA sequence -- is involved, CRISPR-Cas9 works fine in cells that don't have the p53 gene mutations.
The lead candidates for CRISPR Therapeutics, Editas, and Intellia have two things in common. First, they all use CRISPR-Cas9 to edit genes for treatment of rare genetic diseases. Second, each of the lead candidates involves gene disruption rather than gene correction.
Are the findings that CRISPR-Cas9 could be linked to increased cancer risk problematic for the biotechs? Sure. All three companies have preclinical programs that use gene correction. But the most important therapies for the biotechs right now shouldn't increase cancer risk.
Don't view the potential that the use of CRISPR-Cas9 in gene correction could increase the risk of cancer as a roadblock. It's much more likely to merely be a speed bump.
The lead researcher of one of the teams that published an article in Nature Medicine, Jussi Taipale, stated that CRISPR-Cas9 is "clearly going to be a major tool for use in medicine" and that ways to overcome the potential problems could be found.
There are other bacterial enzymes other than Cas9 that can be used for CRISPR gene editing. Editas Medicine, for example, is currently researching use of the Cpf1 enzyme as wells as variants of both Cas9 and Cpf1. It's possible that use of these enzymes in cutting DNA won't induce a response like CRISPR-Cas9 does.
I know that it's become a cliche, but investors really should think long term. That's especially true with emerging technologies like gene editing.
More potential issues could be identified in the future with CRISPR. Some of them might be problematic. Others won't. But there's too much potential for gene editing, particularly the use of a simple and cheap method like CRISPR, for researchers to throw their hands up in the air whenever a potential issue is found.
In my view, nothing has been found that should prevent CRISPR Therapeutics, Editas Medicine, and Intellia Therapeutics from advancing their lead candidates. And even if using CRISPR-Cas9 for gene correction is proven to increase the risk of cancer, I fully expect that better alternative approaches will be found.
Over the long run, I think that CRISPR gene editing will help a lot more than it will harm. Investors who panic now will miss out on the tremendous potential for this promising technology.
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Keith Speightsowns shares of Editas Medicine. The Motley Fool owns shares of CRISPR Therapeutics. The Motley Fool recommends Editas Medicine. The Motley Fool has adisclosure policy. || Cash for NASH: 2 Top Biotech Takeover Targets and 3 Potential Buyers: What's the next massive multibillion-dollar market for the biopharmaceutical industry? Put an increasingly prevalent liver disease high on the list.
Some analysts predict that the market for treatments of nonalcoholic steatohepatitis (NASH) could be between $20 billion and $35 billion. The progressive fatty liver disease is expected to become the leading cause of liver transplants by 2020. And there's currently no approved treatment for NASH, so the market is wide open.
With such a huge amount of money on the line, quite a few drugmakers are developing NASH drugs. We'll probably soon see acquisitions activity heat up. I thinkMadrigal Pharmaceuticals(NASDAQ: MDGL)andViking Therapeutics(NASDAQ: VKTX)are highly likely to be gobbled up in the not-too-distant future. My hunch is thatBristol-Myers Squibb(NYSE: BMY),Gilead Sciences(NASDAQ: GILD), andPfizer(NYSE: PFE)could be among the potential buyers.
Image source: Getty Images.
Madrigal Pharmaceuticals is practically a no-brainer to rank as one of the most likely acquisition candidates. The company isreportedly considering a saleafter catching the eyes of several larger drugmakers, according to Bloomberg.
I'm not surprised at all that Madrigal is contemplating cashing in. In January, I listed the company as one of thetop three small biotechs that "big drugmakers are probably drooling over."The drool that I was imagining stemmed from Madrigal's very encouraging phase 2 results reported in December 2017 for lead candidate MGL-3196.
Since then, the news has only gotten better for Madrigal. The company's initial results from the phase 2 study were after 12 weeks of treatment. Madrigal announced a few weeks ago updated results after 36 weeks of treatment. The new data were at least as impressive as the company's earlier report.
One company was probably nearly as pleased with those phase 2 results as Madrigal was -- Viking Therapeutics. Like Madrigal, Viking's lead candidate targets treatment of NASH. Viking's drug, VK2809, uses the same mechanism of action as Madrigal's MGL-3196. Positive results for MGL-3196 should bode well for Viking's chances with VK2809.
Viking is a little behind Madrigal, though. Madrigal is already looking to advance MGL-3196 to a pivotal phase 3 clinical trial. Viking expects to report phase 2 results for VK2809 sometime in the second half of 2018.
Which big drugmakers could be interested in acquiring Madrigal or Viking? You could probably throw a dart at a list of the biggest biopharmaceutical companies and land on a potential suitor.
I think the odds of either Bristol-Myers Squibb (BMS) or Pfizer making a bid for either of the two smaller biotechs are pretty high. Both companiesconfirmed to Reutersin April that they're interested in acquisitions in the NASH space.
BMS has four pipeline candidates targeting fibrotic diseases. Three of those experimental drugs are in phase 2 clinical trials while one is in phase 1 development. The most advanced of these candidates is PEG-FGF21, also referred to as BMS-986036. However, the phase 2 results for the drug weren't nearly as positive as Madrigal's results for MGL-3196. I have no doubt that BMS would love to have MGL-3196 in its quiver.
Pfizer's pipeline includes three NASH candidates, two of which are in phase 2 testing and the other in phase 1. The big pharma company's chief scientific officer told Reuters that Pfizer acknowledges that it's "a bit behind" other players and is "actively looking" to supplement its NASH pipeline.
Gilead Sciences also claims three pipeline candidates targeting NASH. The big biotech's lead NASH candidate, selonsertib, is arguablyone of the most important drugs for Gilead's future. Gilead's other two NASH drugs, GS-9674 and GS-0976, are in phase 2 clinical studies. The company picked up both of these drugs through acquisitions of smaller biotechs.
Combination therapies could be the most effective approach to treating NASH. Gilead is already exploring combos with selonsertib as the backbone. Adding another drug with great potential such as MGL-3196 or VK2809 would probably be a smart move for the company.
I'm not a betting person, but if I were I'd put money on both Madrigal and Viking being bought out within the next year. But with so many big drugmakers wanting to gain an advantage in the NASH dash, I'm not as confident about which ones will be the buyers.
Gilead has the most cash to fund an acquisition. However, the company might not be as willing to pay up if there's a bidding war. When Gilead was under considerable pressure in 2016 to make an acquisition, CEO John Milligan said that his approach wasn't to make a deal "prices be damned."
On the other hand, Pfizer hasn't been shy in the past about paying a premium to buy another company. The drugmaker has even been criticized for paying too much in its dealmaking. I suspect if there's a contest to acquire Madrigal or Viking, Pfizer will be in the thick of it.
There was plenty of speculation earlier this year that Bristol-Myers Squibb wasmore likely to be acquired itselfthan buy a smaller company. Those rumors have died down, though. My view is that BMS is a serious contender to buy one of the up-and-coming biotechs focused on NASH.
If I had to make a prediction, what would it be? I'd probably go with Pfizer buying Madrigal with Gilead following up by acquiring Viking at a lower price tag. But I'll be the first to admit that I'm no Nostradamus.
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Keith Speightsowns shares of Gilead Sciences and Pfizer. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool has adisclosure policy. || 3 Top Stocks for the War on Cash: From prepaid cards to peer-to-peer payments to payment apps, there seems to be a war on cash these days. Over time, cash is becoming less and less a part of the U.S. economy, and it doesn't seem like this trend will end anytime soon.
In this episode ofIndustry Focus: Financials,host Michael Douglass and financials specialist Matthew Frankel discuss three stocks that could be big winners.
A full transcript follows the video.
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This video was recorded on May 21, 2018.
Michael Douglass:Welcome toIndustry Focus, the podcast that dives into a different sector of the stock market every day. It's Monday, May 21st, and we're doing a special episode on the so-called war on cash. Listeners, whenever you send in a question via email, Twitter, letter in the mail, really whatever, we try to either answer it in email or devote an episode to it. Cam from the U.K. asked, "What do you think are the three best stocks to own to benefit from the war on cash?" So, I figured we'd step back and think big picture for a minute.
The so-called war on cash is this idea that the world is gradually transitioning away from cash, or, at least, that it will in the future. Certainly, there's plenty of data out there showing that increasing proportions of people are using non-cash methods of payment: debit cards, credit cards, mobile transfer services like Venmo and the like. In fact, the BBC reported last year that cash was used in under 20% of transactions in Sweden, for instance. So, certainly, we've seen this movement.
But, the fact of the matter is, cash still reigns across the world. In fact,American Expressrecently highlighted this as an opportunity. They had this presentation in which they described just how much runway there is still to take over from cash.
Matt Frankel:There's a common misperception among American investors and consumers that the credit card market is getting kind of saturated. AmEx came out with statistics that said the uncapped payment market is actually pretty huge. Right now, there's about $12 trillion in consumer payments going through cards, and they think that the addressable market is actually $29 trillion, so more than double the current size. The commercial side of things, it's even more of an opportunity. Right now, it's about a $2 trillion market, and they think it could be a $19 trillion market. So, there's still a lot of room to move toward a cashless society, is the takeaway there.
Douglass:Yes. Even in Sweden, where it's roughly 80-20, there's still opportunity. But, in most places, we have a lot more going through in cash. The second piece then, of all of this, as we're thinking about this, is, what will they go to? If cash becomes less common, what are people going to spend with? Here in the U.S. and in Europe, the answer has been cash to debit/ credit cards to mobile payments in addition to debit/ credit cards. A lot of people argue in favor of the credit card stocks because they're expecting a similar move among other countries. Now, in my view, certainly, there's an opportunity for credit card companies, and there's reason to think that they have plenty of market to expand into.
But it's increasingly clear to me that, particularly in the really high-growth emerging markets that we talked about last week, people are really moving straight to mobile payments from cash and bypassing credit cards to some extent. For example, according toCapgemini's 2017 World Payments Report, 50% of Chinese smartphone users are expected to adopt proximity mobile payments by 2020.
So, we're bullish on credit card companies, at least I am. Personally, I'm aMasterCardshareholder. But we don't actually really see them as the best way to play the specific war on cash. So, here, we've put together three of our favorite stocks. The first one isGreen Dot Corporation(NYSE: GDOT), ticker symbol GDOT.
Frankel:Yeah. On that note, I'm an American Express shareholder myself, and they're not the best way, we feel, because credit cards are expensive. The trend in financial technology, as we discussed in an episode a few weeks ago, is toward no fees. So, we're looking at companies that offer low-fee payment solutions, Green Dot being the first one.
They're a relatively small company. The market cap is just under $4 billion right now. And, in addition to a few other things, which we'll get to in a second, they're the leader in prepaid cards, where people have their paycheck directly loaded onto a prepaid card. You see all the prepaidVisacards at theWalmartcheckout, those are usually Green Dot products. Green Dot focuses on what are called the unbanked and underbanked segments of the population, meaning people who don't necessarily have a checking account. If you have, say, credit issues, you've defaulted on loans before, you've had charge-offs on checking accounts before, it can be really tough to get a bank account. These are the people who Green Dot focuses on. And a lot of the people who still use cash for everyday purchases are slowly transitioning to Green Dot product because it's getting less and less convenient to use cash. That's the best way I could sum up Green Dot -- it's a play on the inconvenience of cash over time.
Douglass:Yes. And, as you pointed out, it does a lot of things with a lot of different cards. It's interesting. I was not familiar with Green Dot until Matt pitched it to me a couple of days ago. And when I looked at the company, a couple of things really jumped out. The first one is that they have just really diversified revenue streams. If you look at the most recent quarter, out of roughly $315 million in revenue, about $130 million came from card revenues and other fees, $100 million from processing and settlement services, and then about $85 million from interchange revenues. So, what you see there is that they're playing in related areas, but they don't have all of their revenue really tied to one place, which is a really good thing to see.
The other thing is, you're seeing pretty impressive growth. Revenue last quarter grew by 16% on the organic side. Now, they actually had an acquisition which juiced revenue up further, but net of that, revenue grew by 16%. So, that's a really good sign that they've made a series of products that are really attractive to a lot of people.
Frankel:Green Dot, in addition to being an issuer of its own products, sees itself as more of a technology platform, whereas other companies can go and use their technology to offer financial services that suit them. Just a couple of examples, Walmart MoneyCard is a big, big partner of Green Dot. More recently, Uber has started issuing the Uber Debit Card through Green Dot's platform. Most recently, in December,Appleannounced that it's using Green Dot's technology for its Apple Pay Cash platform. Which, you can't really get a better partnership than that, as far as peer-to-peer payments.
Douglass:Yes. It's interesting, because, the way Green Dot puts this is, it's banking as a service, or BAAS. You've probably heard of technology as a service, software as a service, etc. They're trying to comp themselves, I think, to a lot of these other companies. Essentially, what that means is, it's this mobile platform that can work in a lot of different areas. Now, whether or not you would really comp that to a tech stock is something that I think there could be a very healthy debate about. But, I think, what's very clear is, this is a company that's serving a historically underserved niche in the market and has really put together some really impressive growth with that.
Frankel:Yeah. The other two companies we're about to talk about focus on markets where people could use credit cards and things right now, it's just, they want to make it more convenient and less costly. Green Dot is focusing on people who don't have many other options. It's not too much of a big deal right now to carry cash. It's getting inconvenient in certain places. But, over the next few decades, it's going to start getting very inconvenient to use cash for certain things. And that's really why I like Green Dot as a long-term way to play the war on cash.
Douglass:Right. Alright, let's turn to our next stock, which isPayPal(NASDAQ: PYPL). Everyone knows PayPal as, well, PayPal. [laughs] Sort of like how everybody knowsFacebookfor Facebook. But, like Facebook, PayPal is also invested in other properties that are not its namesake -- chief among them, of course, Venmo. Which, if you're a millennial or know a millennial, you've probably heard about Venmo and how great it is for basically helping people not have to split the bill at restaurants.
Frankel:Yeah. I personally don't use Venmo, but I'm an older millennial. We'll chalk it up to that. I'm a millennial by about three months. [laughs] But, the statistics don't lie. Venmo payment volumes up 80% year over year. That's enormous growth. People think PayPal is kind of a mature company, but they're really not. Peer-to-peer payment volume, they're growing at a 50% year over year rate, and it's about a quarter of the total right now. So, PayPal is really not justeBay's payment processor anymore, which is where they were years ago. PayPal used to be part of eBay, if people aren't familiar. But, they're really transitioning into a new jack-of-all-trades payment company.
Douglass:Yeah. It's interesting. One of the things that PayPal execs always highlighted about Venmo -- and I had been skeptical about it -- is this idea that the social aspect is really a differentiator. If you use Venmo, basically, you send someone money, and you can give a reason that you're sending money. You can say rent, or brunch, or something completely ridiculous, if you want. And they really highlighted the social aspect of being able to see what other people are paying each other for as being a differentiator. I have been skeptical. But, I will note, John Rainey, PayPal's CFO, at a recent conference noted, and I'm quoting here, "The consumers that are using that are opening the app four and five times a week just to check the social feed." Now, I mean, is it just to check the social feed, or is it because they forgot what they were paying for? I don't know. But, it's certainly interesting to see that there's some data backing up that assertion.
And, I mean, at the end of the day, a lot of people talk about different things like Zelle as potential competitors to Venmo. But the fact of the matter is, even with Zelle's launch, Venmo's growth has continued to accelerate, and they haven't seen any drawback. A big part of that is, Zelle, which underlies a lot of the banking, peer-to-peer payment apps, the average size of transactions on Zelle is a few hundred bucks, whereas for Venmo, it's more like upper 50s, low 60s, according to PayPal execs -- which is, again, a sign that you're using those apps for two different, complementary, things. So, they can both win in an increasingly mobile-first society.
Frankel:Another good thing about PayPal is, not only is the peer-to-peer side of their business doing really well, but their core business is still growing quite rapidly. They added over eight million new accounts in the first quarter alone, 15% more accounts than they did this time last year. So, their core payment business is really doing well, and people who are using PayPal are using it more. Per account, the average PayPal customer uses their account almost 35 times a year. That's an increase of about 8% from last year. So, their core payment business is doing really well in addition to their peer-to-peer business. And the core payment business, at least for the moment, is where they're making their money. That's the big revenue driver.
Douglass:Yeah, and that's one of the things that's sort of an opportunity and a danger for PayPal. At some point, they're going to want to try to monetize Venmo. And they've begun thinking about this a little bit with what's called pay with Venmo, which is essentially rolling things out so that people can use Venmo to pay merchants directly. So, certainly, there's some opportunity there.
But, execs, I think very appropriately, have been very cautious in their outlook, and said, "Listen, we're not going to try to hit some amazing number on the revenue side with this and tank the whole experience," I think because they recognize that fundamentally, Venmo isn't a terribly sticky product. So, if you make things incrementally more difficult for really anybody in that chain -- from consumer-to-consumer to business -- then there may be a significant push to something else, whereas if you wait and allow that network effect to get stronger and stronger, it's going to become increasingly difficult for people to break away, and that's where there might be some monetization opportunity. But, that's years down the road.
Frankel:One more little thought on the monetization of peer-to-peer payments -- bear in mind how young that industry is. It was only about five years ago, people didn't think Facebook would be able to monetize its business. The point is, this is still in its early stages of evolution. There could be many different avenues they could take it to monetize payments without charging fees or things like that. It's a very, very young industry still.
Douglass:Yes, and a lot of opportunity there. Alright, let's turn to our third stock. By the way, I forgot to mention earlier, PayPal, that's ticker symbol PYPL.Square(NYSE: SQ)is our third one, which is ticker symbol SQ.
Frankel:Square is, in many ways, similar to PayPal. It's about one-fifth of the market cap. In terms of payment volume, it's a lot smaller. It's about one-eighth of PayPal's payment volume right now. While PayPal started out focusing on consumers paying businesses, Square is more of a small business-centered company. You can't walk down a craft market in America right now without everybody taking credit cards with Square payment readers.
But, they're turning into so much more than that. They're really building, they call it omnichannel commerce. It's kind of a whole one-stop payment ecosystem for businesses, consumers. For example, they have a Square Capital platform that lends to small businesses, the Square Cash app, which is kind of what we're talking about with the war on cash. Their peer-to-peer payment app is the No. 1 app in the Apple App Store. So, they really transformed themselves from just the small business payment company to a small business and consumer ecosystem of payments.
Other integrated features are what they're going for, with their Caviar food delivery app. They just acquired Weebly, which allows people to make their own websites, integrating that into their process so their customers don't have to go elsewhere to build their own e-commerce sites. Just, a lot of potential, and it's still within the early stages of figuring out how much of the business environment they could capture.
Douglass:Yeah. For me, I'm a Square shareholder personally because of the optionality. You look at Caviar, it's tiny compared to aGrubHub. It's distinctly possible that GrubHub or one of the various other food ordering services will continue to, pardon the pun, eat their lunch, because, you know, Caviar has a single-digit market share. But, long-term, maybe it can grow. Maybe it can differentiate. Maybe it can find some way to really succeed, particularly if they use it as an omni-channel, to use their terminology, cross-sell opportunity.
They might charge a certain percentage to merchants who aren't using other Square services, but if they are using other Square services, maybe Caviar is free, maybe it's bundled, maybe it's a lesser percentage of revenue on the sold food that they're charging. So, there's a lot of opportunity, I think, if Square can really, really make entrepreneurship easy. And that's really what their goal is.
Frankel:Another thing with Square is, out of the three stocks we're talking about, they're the ones who are really embracing the whole cryptocurrency trend -- more so than the other two, anyway. You can now buy Bitcoin through the Square Cash app, if you talk about the ultimate war on cash. It's kind of still a small part of Square's business, but it's getting there, and it could become a big part if it's integrated into their small business solutions, whereas you can hold Bitcoin in Square Cash and use it at Square payment terminals, that could be a game-changer for the cryptocurrency world.
Douglass:Yeah, it's kind of a weird thing. It feels very different from pretty much everything else that Square is doing. But, again, this is a management that has unhesitatingly diversified, taken on opportunities. I think, in a lot of ways, they're just throwing a bunch of things out there and seeing what works. And that can be a bad strategy when it doesn't have a master plan behind it and an integrated experience that they're going for, or if it's just out of desperation. But Square has just been growing impressively. I think this is management's attempts to say, "OK, how do we take that growth, better monetize it, and build out that platform further and further, and stay ahead of the competition?" And thus far, Square really has done a good job of that.
Frankel:Yeah. This was the thesis onIBMa long time ago, in that the more parts of a company's business they rely on you for, the higher the cost of switching is. So, Square is turning into a very sticky business, to borrow a Warren Buffett term.
Douglass:Yes, indeed. Cool. Those are our three stocks, personally, my and Matt's favorite picks for the war on cash. Matt, of the three, is there one that stands out to you as your personal favorite?
Frankel:I own Square and PayPal. I owned Square when it was about the size of Green Dot, and it's really been nice to see where it evolved. I see that it has a whole lot more potential to grow, ultimately, to the size of PayPal, I could see it getting. Not that it will, I'm not saying that it will. But, I could definitely see Square doubling or tripling in size, even from here.
Douglass:Yeah. Square is the only one of these three that I personally own, so it's probably not surprising that it's the one I'm most bullish on right now. I usually try to buy companies that I like. [laughs] It sort of makes sense as an investor.
Folks, that's it for this week'sFinancialsshow. Questions, comments, you can always reach us atindustryfocus@fool.com. As always, people on the program may have interests in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so, don't buy or sell stocks based solely on what you hear. This show is produced by Austin Morgan. For Matt Frankel, I'm Michael Douglass. Thanks for listening and Fool on!
Matthew Frankelowns shares of AXP, AAPL, PayPal Holdings, and Square.Michael Douglassowns shares of AAPL, FB, MA, and Square. The Motley Fool owns shares of and recommends AAPL, FB, MA, PayPal Holdings, and V. The Motley Fool owns shares of Square. The Motley Fool is short shares of IBM and has the following options: long January 2020 $150 calls on AAPL and short January 2020 $155 calls on AAPL. The Motley Fool recommends AXP, EBAY, and GRUB. The Motley Fool has adisclosure policy. || These Gold Streaming Stocks Are Buys for 2018: Investing in precious metals is most often associated with directly owning bullion or investing in mining companies, but both strategies have notable drawbacks. Streaming and royalty companies, like Royal Gold, Inc. , Franco-Nevada Corporation , and Wheaton Precious Metals Corp. , change the equation, effectively avoiding many of those negatives, allowing them to provide more consistent returns to investors over time. Here are some of the key benefits and drawbacks you need to know about the gold streaming niche, including a deeper look at a few of the industry's biggest companies. What is gold streaming? The precious metals mining business is pretty simple to understand: Find a spot that contains gold or silver, dig it up, and sell it. That's obviously an oversimplification of a very complex, dangerous, and expensive business model, but you get the idea. A streaming and royalty company doesn't do any of that, but instead provides an important part of the process: cash. A man sitting by a river panning for gold Image source: Getty Images. Essentially, streaming provides cash up front to miners in exchange for the right to buy gold, silver, or other metals at reduced rates in the future. Miners benefit from having access to an additional source of capital over and above what they can get from banks and capital markets, which at times can be costly sources of capital. Streaming companies, meanwhile, benefit from contractually locking in low costs for gold and silver. Many companies that operate in the streaming niche also have royalty deals in their portfolio. Royalty deals are similar to streaming deals in that cash is provided up front to miners. In exchange, however, the miner pays a percentage of the sales from a mine to the streaming and royalty company. The up-front payment is usually larger, since the streaming and royalty company isn't expected to buy any of the gold that is produced from the mine. For the most part, the risks and rewards of royalty and streaming deals are fairly similar. Story continues An example of a streaming deal In 2015, Royal Gold announced that it had inked a streaming deal with Barrick Gold Corporation , one of the largest gold miners in the world, related to Barrick's 60% interest in the Pueblo Viejo mine in the Dominican Republic. Royal Gold provided the miner $610 million in exchange for 7.5% of Barrick's interest in the gold produced at Pueblo Viejo until 990,000 ounces of gold have been delivered, and 3.75% thereafter, plus 75% of Barrick's interest in the silver produced at the mine until 50 million ounces have been delivered, and 37.5% thereafter. The gold and silver it will receive is notable, of course, but the really important number here is what Royal Gold is paying for that gold and silver: 30% of the spot price up to key production targets, and then 60% thereafter. It doesn't matter what the spot price at the time is, Royal Gold has locked in wide profits. Benefits to investing in streaming companies Since streaming and royalty companies are only providing cash to miners, they are best looked at as specialty finance companies. However, for most investors interested in adding precious metals to a diversified portfolio, they are probably the best option. The reasons tie back to the unique streaming model, which includes contractually locked-in wide margins, as the example above illustrates. Benefits to investors include: Consistent results. Although each streaming and royalty deal is different, the trailing EBITDA margins of streaming companies Royal Gold, Franco-Nevada, and Wheaton Precious Metals have been solidly positive over the past decade. Positive, and wide, EBITDA margins are a sign these companies are running their businesses profitably. The contractually guaranteed low prices these companies pay are the bedrock on which those consistently wide margins are built. Giant miners like Barrick Gold, Newmont Mining , and GoldCorp , for comparison, have each seen their trailing EBITDA margins dip into negative territory at least once, if not more often, during that same time period. Fast-moving gold prices and the costs of mining, which is a slow and difficult process, combine to make consistency hard to achieve for miners. And it can be difficult for investors to stick around when a miner is struggling to turn a profit. The wide margins at royalty and streaming companies, on the other hand, can provide a reason for shareholders to stick around even if gold prices are falling. Diversification means less risk. Diversification is another key benefit streaming and royalty companies offer, with even large miners generally only operating a handful of mines. Some small miners, meanwhile, only operate one or two. Streaming companies, however, generally spread their risk across a larger number of assets. Focusing on providing cash to the miners who take on the task of running mines makes diversification easier for them to achieve. Franco-Nevada, for example, provides exposure to nearly 300 mine investments, 50 of which are producing assets, while the rest are in some stage of development. That diversification materially reduces the risk that trouble at any one mine will derail performance. Since gold and silver prices are already prone to swift and often large price swings, with their prices driven by supply and demand (and often emotional investors), diversifying mine risk is a nice benefit. Dividends. Dividend income is another key benefit provided by the larger gold royalty and streaming companies. Although miners often pay dividends, too, those can wind up being cut when commodity prices fall. Royal Gold and Franco-Nevada , on the other hand, have each increased their dividend for at least a decade. And while Wheaton's dividend is variable , it is linked to the company's performance, so investors know beforehand that the dividend is a moving target -- but they know the math involved behind the payout. Locked-in low prices, wide margins, and diversification are what allow streaming companies to be more generous with dividends. This is no small point, since dividends can provide investors something to watch, instead of stock prices, when gold and silver prices are weak. That, in turn, can help investors stick around through the entire commodity cycle to benefit from the diversification that gold and silver provide to an investment portfolio. Better than bullion. Investing in streaming companies also has a leg up on direct ownership of gold and silver . If you buy gold bullion, the only upside you have is a potential increase in the price of gold. An ounce of gold today will still be an ounce of gold tomorrow (or even 1,000 years from now). Since streaming companies invest in both developed and developing mines, they benefit, like miners, from the opportunity for increased production over time. That's one reason that it's important to view streaming companies as having a portfolio, managing a collection of streaming investments over time. Indeed, they need to balance investing in current production with investments that can maintain and enhance production in the future as they are developed. Risks of investing in streaming companies There are also issues that investors will want to keep in mind when looking at gold royalty and streaming companies. Since streamers are kind of like specialty finance companies, it shouldn't be surprising at all to know that the biggest issues are found on the balance sheet . This is because the basic streaming model is to use short-term debt to fund streaming and royalty deals and then permanently finance that debt by issuing stock or long-term debt. Dilution. Some streaming and royalty companies, notably Franco-Nevada, have a preference for maintaining a debt-free balance sheet. However, streaming deals can cost hundreds of millions of dollars. That's not the kind of cash that most companies keep around. So, in order to raise the money needed to support streaming deals, streaming companies often issue stock. The risk here is that every new share of stock reduces the ownership stake, and financial benefit, of existing shareholders. This dilution , as it's called, isn't a problem if the streaming deals work out as expected. But if something were to go wrong, like a new mine not actually getting built, then issuing dilutive shares would be a notable negative. Leverage. Other streaming and royalty companies, such as Royal Gold, prefer to use debt to permanently fund their deals. The goal is to use the cash flow from the streaming agreements to reduce the debt balance over time. There are two potential risks here. First, if a mine investment doesn't work out as expected, then the projected cash flows won't be there to pay down the debt or support the associated interest expense. But you'll also want to keep an eye on the total debt load a streaming company is carrying, since too much debt could effectively leave it unable to ink new deals until its balance sheet is healthier. Are streaming companies good investments? Streaming and royalty companies aren't right for every investor. For example, if you like to dig in and find unique opportunities being mispriced by the market, the more diversified and hands-off approach of a streamer isn't appropriate for you. And buying gold bullion might be more attractive if you believe gold will be a more viable option in the case of a catastrophic market collapse. However, for most investors, streaming and royalty companies are a great mix of risk and reward. The diversification, consistently wide margins, and regular dividends can make it much easier to maintain exposure to precious metals throughout the entire commodity cycle. And that, in turn, increases the chance that investors will benefit from the diversification that gold and silver can offer. Top gold streaming companies Although gold streaming is something of a niche in the precious metals market, the largest competitors have been in the business since the 1980s, while new entrants are showing up as well (including hedge funds, private equity, and pension funds). Most investors, however, should probably stick with the largest, easiest to trade, and longest-tenured companies for now. Here are the top five. Company Market Cap Dividend Yield Franco-Nevada (NYSE: FNV) $13 billion 1.3% Wheaton Precious Metals (NYSE: WPM) $9 billion 1.7% Royal Gold (NASDAQ: RGLD) $6 billion 1.2% Osisko Gold Royalties Ltd. $1.6 billion 1.6% Sandstorm Gold Ltd. $800 million N/A Franco-Nevada The largest streaming company by market cap is Franco-Nevada. As noted above, it has investments in nearly 300 mines, 50 of which are producing. However, it has taken diversification further than its peers by investing in around 80 oil and natural gas assets (57 producing), following the same basic business model. It's not as pure a play on metals, but if you are looking for diversification, that non-precious-metals exposure is an interesting addition to the mix. That said, gold provides roughly 70% of its revenue, with silver at 15%, and oil and gas at just 7% (the rest is, effectively, "other"), meaning that gold is still the big driver of performance here. The company has increased its dividend annually for 10 consecutive years. Big streaming deals have gotten harder to find following the recovery in commodity prices that started in early 2016. So Franco-Nevada's deep bench of development projects is going to be the driving force on the mining side of its business. Such projects, however, can take time to develop. Which is where the company's diversification into energy comes in. Over the near term, management expects the revenue from its oil and gas investments to grow swiftly, supporting continued top-line growth. Note that those investments were made while oil was in a downturn, showing how Franco-Nevada's management makes opportunistic use of its diversified approach for the benefit of its shareholders. If you are interested in this streaming company, you'll want to keep a close eye on its oil investments right now, even though they aren't the biggest piece of the portfolio. Wheaton Precious Metals Previously known as Silver Wheaton, this company changed its name to Wheaton Precious Metals in mid-2017 to reflect its shifting portfolio. As you might expect, silver was once this streaming company's bread and butter. Today, however, production is split roughly evenly between gold and silver. It still provides more exposure to silver than its peers, and it is the least diversified by mine investment, with just 26 total projects in its portfolio (17 of which are producing). Wheaton has a slightly different focus than its peers, concentrating on larger investments in larger assets with fewer speculative development projects. Wheaton's dividend is variable, pegged at 30% of the average of the previous four quarters' operating cash flows. Although that means the dividend will fluctuate over time, you'll go in knowing that fact as well as how the final dividend is arrived at -- with most miners, the dividend is based on nothing more than the current opinion of the board of directors. Looking forward, Wheaton believes its investments have the potential to increase its production by as much as 45% if key projects start producing. However, as an example, one of its investments is in the long-stalled Pascua-Lama mine, which straddles Chile and Argentina. Barrick Gold has been trying to build this mine for over a decade at this point, and continues to face pushback from environmentalists, residents, and the government. So there's material opportunity for production growth at Wheaton, but the success of just a handful of development projects in the company's highly focused portfolio will determine how much opportunity. Royal Gold Royal Gold's biggest differentiating factor is its impressive 17 years' worth of annual dividend hikes -- the longest streak in the streaming industry. Gold has gone through multiple booms and busts over that time, which speaks volumes about management's ability to use the streaming business model to provide investors with a steadily growing stream of income. The portfolio includes 193 investments, with 39 operating and the rest in earlier stages of development. Gold accounts for around 80% of its revenue, the largest percentage within this trio of streamers, with silver and copper both at 9% (the rest is "other"). For those seeking a reliable dividend stream , Royal Gold has definitely proven itself over time. With big streaming deals harder to find, Royal Gold has shifted gears and is paying down debt. This is exactly what investors want to see happen. That said, production growth is still in the cards here. Royal Gold has a number of streaming investments that are expected to start producing (or increasing production) over the next couple of years. Investors will want to watch the debt reduction efforts and updates on the development projects in its portfolio, which management likes to say are bought and paid for. The best gold option? Now that you have a better understanding of the streaming and royalty model's pros and cons and have taken a look at some of the largest players in the industry, it should be pretty clear that owning shares in a streaming and royalty company is a strong alternative to owning gold coins or stock in gold miners. It's probably best to focus on the largest companies in the space, with both Franco-Nevada and Royal Gold getting high marks for diversification and consistent dividend growth over time. That said, Wheaton's focused portfolio holds impressive production potential; you'll just need to keep a close eye on a small number of projects that may or may not work out as planned. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Bitcoin Price Could Reach Further Lows Below $6,000: Analyst: Ran Neu Ner, founder of Onchain Capital, and host of Cryptotrader on CNBC Africawas on CNBC’s Fast Moneyoffering his prediction that bitcoin is likely to see further downward movement relative to the US dollar, possibly going as low as $5,900 USD.
The problem, according to Neu Ner, is not to do with any recent hacks to exchanges, the same way that any one bank being robbed does not mean that there is any problem with the US dollar. However, he frames Bitcoin as digital gold, and there needs to be a demand to underpin its value. That demand simply isn’t there yet, leading to Bitcoin’s current bear market. He did not provide any details on exactly how that demand should be created in order to counter the current trend.
Neu Ner’s advice going forward was that if you believe in blockchain technology’s potential to permeate into all business sectors, then its short-term ups and downs measured in weeks or even months should not matter. If Bitcoin’s value goes to 20, 40, or 80 thousand US dollars over a matter of years, then no one will care if they bought in at 6,000 dollars or 6,500 dollars. Only day traders working on scales of less than a year should be worried about the current dips in market value.
However, Neu Ner did offer that there was a significant milestone if Bitcoin should drop to $5,000 USD. This, according to him, is roughly where it becomes difficult for miners to maintain profitability in their operations. Falling below this point could cause mining operations to switch to other currencies or pull out of Bitcoin, leading to changes in the infrastructure of Bitcoin that might hinder its long-term viability. Neu Ner did not go into specifics about what exactly might be the consequences of Bitcoin being less profitable to mine, but it was clear that $5,000 USD was a price point to pay particular attention to.
It should be noted that Neu Ner’s analysis was narrowly constrained to Bitcoin, and he did not mention other cryptocurrencies. He spoke interchangeably about blockchain technology and Bitcoin, making it unclear whether or not he felt that Bitcoin underpinned the entirety of the cryptocurrency market, or if the cryptocurrency market would survive a significant Bitcoin crash. The alternate possibility of Bitcoin losing dominance and other cryptocurrencies filling the void was not discussed.
Featured image from Shutterstock.
The postBitcoin Price Could Reach Further Lows Below $6,000: Analystappeared first onCCN. || Snap Hopes to Win Over 2 Billion Android Users With New App This Summer: Snap(NYSE: SNAP)has been catering to iOS users for years, even though the Android operating system claims about six times more smartphone users.
Snap'slatest earnings reportshowed its slowest user growth ever and seems to have been another wake-up call for Snap that there aren't enough iOS users for it to keep growing. In the past, Snap has alienated Android users by making quick fixes on the app when it really needed a complete overhaul.
But now the company seems well aware of how desperately it needs to get the new Android app out to users. After all, that's two billion users that Snap's missing out on.
Snap has been promising to prioritize Android users but keeps disappointing them. Image source: Snap.
Snapchat's recent redesign was the redesign heard around the world. Both iOS and Android users seemed to almost universally hate the new design, and more than 1.2 million of them signed a petition on change.org asking Snapchat to reverse the changes.
On the latest Snap earnings call, company CEO Evan Spiegel noted that the developer team still had a lot of work to do on the redesign, especially for Android users.
That was worrying for investors who have been pressuring Snap to roll out a new Android app that will fix a host of problems from lag issues while scrolling, to random crashes, to poor picture and video quality.
Android performance has always been a weakness for Snapchat. The recent redesign was supposed to be a short-term fix for Android issues. But while it addressed certain problems, other problems have popped up in their place and led to a negative impact on Android users this past quarter, according to Spiegel's comments.
The issues with the redesigned Android app go back to Snap's legacy codebase, an ongoing problem for Snap. Legacy code is code that isn't engineered anymore, but is continually being patched. After a while, the constant code modifications meant to improve the app actually end up creating a mess out of the code to the point that if you go in to fix one thing, it can break something else.
That's where Snap is with the Android app. And that's why the redesign is a short-term, unsatisfactory fix for users. The only way to break the cycle is to create a brand new app.
That's what Snap is trying to do with the Android app now, and it hopes the rebuilt app will be ready in the third quarter between July and September. Snap has been slow to this game, though. Android users have been saying for a long time that the only way to fix Snapchat's Android problem was to quit taking shortcuts and rebuild it. Now Spiegel finally seems to agree that a complete overhaul is worth the time and effort for the potential long-term growth from Android users.
Snap'sdisappointing growth storyhas a lot to gain from making the two billion Android users a priority.
In 2017, about 83% of smartphone users were using the Android operating system, while just 15% were using the iOS operating system, according to data from IDC. It seems like a no-brainer for Snapchat to cater to Android users rather than iOS users. But Snap has been dragging its feet about creating a high-quality app for the Android phones because there are more than 60,000 variants of the Android, while there's only one iOS variant. That makes things more difficult for Snapchat developers.
Snap openly acknowledged the glaring Android growth barrier in its SEC filing before its IPO in March 2017. The company wrote that if it were unsuccessful at improving the app for the Android operating system, then its business could be "seriously harmed."
Snap's predication seemed to come true with its recent poor performance. For the second quarter that goes through June 2018, Snap expects user growth to slow substantially as it continues to deal with the backlash about its redesign and continues to use its redesigned Android app as a temporary fix. But if it can get the new and improved Android app ready for the third quarter, it may be able to report improving user metrics.
In December, Spiegel admitted, "I wish we had done this sooner" about the redevelopment of the Android app. It's safe to say, Android users agree.
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Natalie Waltershas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || 3 Growth Stocks That Could Put Netflix's Returns to Shame: There's no denying thatNetflix(NASDAQ: NFLX)has handsomely rewarded patient shareholders in recent years -- and not just those who bought the stock for less than $0.50 per share shortly after its 2002 IPO. As of this writing, Netflix has soared 1,200% over the past five years alone to trade at $390 per share.
Of course, some investors predict that Netflix is only just getting started. But this also raises the question: Are there any stocks on the market today that could put even Netflix's returns to shame?
We asked three top Motley Fool investors exactly that. Read on to learn why they thinkiQiyi(NASDAQ: IQ),XPO Logistics(NYSE: XPO), andEnphase(NASDAQ: ENPH)fit the bill.
IMAGE SOURCE: GETTY IMAGES.
Steve Symington(iQiyi):Many investors undoubtedly regret not buying Netflix in its early days as a publicly traded company. But I think iQiyi, the so-called "Netflix of China," offers investors today a perfect second chance to achieve even greater gains.
Fresh off its IPO in late March, iQiyi already caters to an enormous ad-supported base of roughly 845 million monthly active users. But early last month, iQiyi also revealed it now has over 61 million paying subscribers, or less than half of Netflix's 125 million streaming subscribers at the end of last quarter. With a fast-growing middle class in the nation of 1.4 billion people increasingly willing to pay for high-quality entertainment, its more lucrative paid base still enjoys an enviable runway for growth over the next several years.
But iQiyi has much grander plans than "just" video streaming. Over the next few decades, the company hopes to build itself into a diversified entertainment conglomerate that's much more similar to Disney than Netflix. According to recent comments from iQiyi CEO Gong Yu, that will entail "building an ecosystem based on content and IP such as literature, comics, light novels, and gaming."
For investors who buy now before that broader effort becomes clear, I think iQiyi stock could easily put Netflix's returns to shame.
Neha Chamaria(XPO Logistics):Let's face it: There's just no stopping Netflix, which makes beating it even tougher. Yet, there's one stock that's growing at a torrid pace, having done more than half as well as Netflix in the past five years -- that stillmakes it a fivebagger-- and showing tremendous potential for growth in coming years. I'm talking about XPO Logistics.
You know why I'm stacking XPO of all companies against Netflix? I see a similarity in the way both companies have approached growth: the knack to spot opportunities before others and creating a footprint big enough to make competition tough. So if Netflix saw streaming as the next big thing in video watching, XPO saw last-mile delivery as the future of e-commerce. Today, XPO is thelargest last-mile providerin North America, handling the delivery of heavier goods like furniture and home appliances to consumer homes with deft and helping e-commerce platforms meet their tight delivery schedules.
Over the years, XPO's acquisitive strategy and an asset-light business contributed heavily to its growth. Now, the company is making some really smart moves, includingthe launch of XPO Direct, which allows retailers to rent out its warehouses and delivery fleet cost effectively instead of setting up their own, and introducing voice-enabled package tracking for consumers viaAmazonAlexa andGoogleAssistant.
XPO clearly understands industry dynamics well and has its pulse on consumers' evolving needs. With that, there's no way the company shouldn't make it big as e-commerce takes off.
Travis Hoium(Enphase Energy):Inverters aren't the sexiest business in energy but they're a critical component to every solar installation. When the sun hits a solar panel and generates power, it's in the form of direct current (DC), which has to be converted to alternating current (AC) that we use in our electrical grid. The inverter is what does the conversion.
Enphase Energy makes the conversion from CD to AC quick and painless for solar panel installers because it supplies microinverters that are attached to the solar panel itself. Some companies, like SunPower, are even installing Enphase Energy's microinverters at their plants and shipping them to installers pre-assembled. This saves cost on installation and reduces the number of components installed on each home or commercial rooftop.
The reason I think Enphase Energy is set up for big gains in the future is its recent revenue stabilization and improvements on its bottom line.
ENPH Revenue (TTM)data byYCharts.
To add to this, the company recentlybought SunPower's microinverter business and signed the module manufacturerup as a customer. The deal is expected to add $60 million to $70 million to Enphase's revenue and generate a gross margin of 33% to 35%. If those projections hold, the company could return to profitability within the next year, and if it's able to leverage the growing residential and commercial solar markets, it could be a great growth stock over the next decade, generating huge returns for investors.
We can't guarantee that these three stocks will be able to jump over the high bar that Netflix has set. But whether we're talking about iQiyi's ambitious plans for the future, XPO's astute industry positioning, or Enphase's recent revenue stabilization and impending return to profitability, we think the chances are high that they could do exactly that. And we believe anyone looking to put money to work in stocks could do well to invest accordingly.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors.Neha Chamariahas no position in any of the stocks mentioned.Steve Symingtonhas no position in any of the stocks mentioned.Travis Hoiumhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, and Netflix. The Motley Fool recommends iQiyi and XPO Logistics. The Motley Fool has adisclosure policy. || 10 Growth ETF Ideas as Value ETFs Experience Block Selling: This article was originally published onETFTrends.com.
Value stocks are slipping as investors return to the growth style. Investors can also quickly capture broad growth segments of the market through targeted ETF strategies.
Value stock ETFs are experiencing block selling that fueled a surge in trading volumes, report Carolina Wilson and Dani Burger for Bloomberg.
For instance, the Vanguard Value ETF (VTV) saw $424 million in trades Tuesday, or almost triple its average daily volume over the past year. The iShares MSCI USA Value Factor ETF (VLUE) also experienced $274 million worth of shares exchanging hands yesterday, more than double the average daily turnover in the past year.
“With the yield curve flattening, signaling lower growth, managers are shifting once again to the uber growth names, like the FANG play” Dave Lutz, head of ETFs at JonesTrading Institutional Services, told Bloomberg, referring to the fast rising tech stocks Facebook Inc., Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc.
10 Growth-Related ETFs Ideas
Investors may target more cyclical U.S. stocks through growth-oriented ETFs. For instance, the PowerShares QQQ (QQQ) tracks the Nasdaq-100 and includes a heavy tilt toward the tech sector, along with a large position in consumer cyclicals.
Investors can also target growth-specific index ETFs, like the iShares Russell 1000 Growth ETF (IWF) and Vanguard Growth ETF (VUG) . IWF takes growth picks from the large-cap universe of Russell 1000 stocks. VUG selects picks from the largest 85th percentile of the U.S. stocks. The ETFs overweight tech and discretionary names as well.
Investors can also capture mid cap growth stocks through the iShares Russell Mid-Cap Growth ETF (IWP) , Vanguard Mid-Cap Growth (VOT) , iShares S&P Mid-Cap 400 Growth ETF (IJK) and Guggenheim S&P Midcap 400 Pure Growth ETF (RFG) . These funds also include heavy positions in consumer discretionary, industrials and technology sectors.
Lastly, for smaller company exposure with a growth style tilt, the iShares Russell 2000 Growth ETF (IWO) , Vanguard Small-Cap Growth ETF (VBK) and iShares S&P Small-Cap 600 Growth ETF (IJT) focus on the small-capitalization growth asset class category.
For more information on the markets, visit ourcurrent affairs category.
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[Random Sample of Social Media Buzz (last 60 days)]
Huobi Partners on $93 Million China-South Korea #Blockchain Fund #Crypto exchange Huobi has teamed up with NewMargin Capital and Kiwoom Securities to launch a blockchain fund focused on China and South Korea. https://www.coindesk.com/huobi-partners-on-93-million-china-south-korea-blockchain-fund/ … #BTC #ETH #COINDESK || Don't miss out on the Biggest Crypto currency of 2018!! http://www.karatcrypto.com #crypto #blockchain #karatpay #karatbank #gold #affiliate #commission #kbc #bitcoin #ethereum #btc #price#usd #eur #china #usa #crypto #telegram #facebookpic.twitter.com/9q66WvKOpa || @Coinigy is your all-in-one platform for digital currency - #bitcoin #etherium #litecoin https://www.coinigy.com/?r=449839bb #IT || Sniper Trade Alert $QTUM $BTC
Symbol Pair: QTUMBTC - Binance
1 Hour Chart - 5/23/2018 3:00:00 AM UTC
Price : 0.00184200
RSI : 28.7974271117929
Aroon : 1 :-96, 2 :-96
BOLL Band Under : True
Fast Stochastic Bullish Cross : True
#cryptocurrency #btc #qtum #crypto #snipertradespic.twitter.com/TpJecmYowW || El precio actual del #BITCOIN es de 8290.00$ http://bit.ly/2j4Lx9q || 仮想通貨とは？ビットコインとは？他の通貨や他の金融商品と比較して簡単にわかりやすく解説http://coin-portal.net/basics/kasoutuuka_toha/ … || The offering of TRW on a trading platform is done in order to allow the use of the Triwer Technologies AS platform and not for speculative
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website: https://triwer.io/ || $SC is now worth $0.02218 (-0.54%) and 0.00000255 BTC (0.00%) #SC || ベネズエラ政府がBTCマイニング機器を没収していると報じられる http://voty-app.com/posts/2161972 || Current price of Bitcoin is $7851.00 “Like” if thats good for you and “retweet” if thats not good for you #bitcoin #btc #bitcoinprice
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Trend: up || Prices: 6228.81, 6238.05, 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-01-04]
BTC Price: 3857.72, BTC RSI: 49.23
Gold Price: 1282.70, Gold RSI: 66.78
Oil Price: 47.96, Oil RSI: 45.23
[Random Sample of News (last 60 days)]
3 Reasons to Buy the Dip in Disney Stock: After a few months of stock market turbulence,Disney(NYSE: DIS)is down 11% from the multiyear highs it reached over the fall of 2018. It's not that Disney itself did anything to upset investors; on the contrary, the company is nearing the closure of itstakeover ofTwenty-First Century Fox(NASDAQ: FOXA)(NASDAQ: FOX)and recently concluded a 2018 fiscal year in which all of its reporting segments, except for the smallest division (consumer products), notched top-line growth.
The market has nonetheless dragged down the stock as investors worry about a slowing U.S. economy in 2019 and the possibility that corporate earnings could decline. However, while Disney's empire will need to continue adapting to shifting entertainment trends, the stock is currently valued at a one-year forward price-to-earnings (PE) ratio of 14.4 -- compared with a forward PE ratio of 15.3 for the S&P 500 index. The dip in the stock could equate to a great buying opportunity headed into 2019.
Disneyowned the podium at the U.S. box officein 2018, withBlack Panther,The Incredibles 2, and one of the highest-grossing films of all time,Avengers: Infinity War. Including Fox studios, the soon-to-be-combined movie powerhouse had six of the top 10 grossing movies of the year. The company's studio entertainment segment's revenue increased 19% from 2017 to $9.99 billion.
There's a good chance of a repeat, or even better, in 2019. The conclusion of theAvengersmovies comes out in May, and the end of the 40-years-in-the-making Skywalker story rolls out in December withStar Wars: Episode 9. Along the way, moviegoers also get live-action adaptations ofDumbo,Aladdin, andThe Lion King. For the kiddos, or adults who refuse to grow up,Toy Story 4andFrozen 2are also headed to theaters in 2019. Add in a couple ofX-Menspinoffs from Fox Studios, and Disney's box-office dominance in the year ahead looks almost unassailable -- not to mention a potential rebound for the consumer-products segment from toy sales resulting from the upcoming films.
Netflix(NASDAQ: NFLX)may have started the internet-streaming TV revolution, but Disney is readying a heavy counter. The company launched its sports streaming service, ESPN+, early in 2018, and it quickly collectedover a million subscribers, but a bigger-impact release will occur sometime during the second half of 2019.
That's when Disney+ launches, delivering Mickey Mouse's long-awaited answer to Netflix. (Hulu, which Disney will own two-thirds of after closing the Fox deal, doesn't officially count in this comparison.) Disney will be able to fill up its catalog with past and present Disney and Fox works, plus a few exclusive spinoffs from the Marvel superhero andStar Warsuniverses. Plus, all future box office releases, including the aforementioned 2019 lineup, will migrate over to Disney+ or Hulu -- the former taking care of family content, and the latter handling that intended for more mature audiences.
Image source: Disney.
Disney as an investment has long been attractive because of the brand's vertical integration -- in this case, the ability to use its entertainment content in multiple ways; from film studio to product sales to fan experiences. To the last point, Disney will be completing big additions to its parks in California and Florida, includingStar Wars Galaxy's Edge. California's will open over the summer of 2019, and Florida's a few months later in the fall.
The openings will complete Disney's first integration of its 2012Star Warsacquisition into its theme-park business, the company's biggest profit driver last year. Though total sales were less than the media networks segment, parks and resorts contributed $695 million of the company's total $931 million in operating profit growth in 2018. Galaxy's Edge could help sales and profits continue higher as it attracts sci-fi fans from around the world. This will supplement growth from the company's international resorts and parks asglobal travel continues to rise.
Even though some investors are nervous about what 2019 will bring, Disney has a number of irons in the fire that will provide opportunity for growth no matter which way the economy turns. With shares trading at a reasonable valuation against the next 12 months' worth of earnings expectations, now could be a smart time to buy the dip.
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Nicholas Rossolilloand his clients own shares of Walt Disney. The Motley Fool owns shares of and recommends Netflix and Walt Disney. The Motley Fool has adisclosure policy. || Why Madrigal Pharmaceuticals Stock Slumped in October: Shares of the clinical-stage biotechMadrigal Pharmaceuticals(NASDAQ: MDGL)fell by 10.1% over the course of October, according toS&P Global Market Intelligence. Fortunately for shareholders, this double-digit drop wasn't sparked by a specific clinical or regulatory event.
Rather, the drugmaker's shares appear to have simply drifted lower with the broader biotech industry last month. Biotech stocks, after all, took a pounding in October due to the market's concerns about how President Trump's trade war with China will impact overseas sales and profits going forward.
Image Source: Getty Images.
Madrigal's shares have now lost almost a third of their value since hitting their 52-week highs only a few months ago. The long and short of it is that investors were hoping that a deep-pocketed partner would enter the picture after the company announced stellar mid-stage results for its experimental nonalcoholic steatohepatitis drug,MGL-3196, last May. So far, that value-boosting scenario has yet to materialize.
Without a partner, Madrigal is now tasked with advancing MGL-3196 into a late-stage trial on its own. The bright side, though, is that the biotech's last stated cash position of $488.5 million should be more than sufficient to get this process going and perhaps even see the company through to a commercial launch.
A go-it-alone strategy also means that Madrigal won't have to fork over the bulk of the drug's sales to a partner later down the line. So, with a potential megablockbuster product close to entering a pivotal-stage trial either later this year or in early 2019, Madrigal's stock may be gearing up for a healthy rebound in the not-so-distant future.
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George Budwellhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Why Goldman Sachs Suddenly Starting Bitcoin Business is Unrealistic: SolidX: According to Daniel H. Gallancy, the CEO of SolidX Partners, it was unrealistic to anticipate Goldman Sachs to run a Bitcoin business before the year’s end.
Speaking to Bloomberg, Gallancy, who has been working with a major investment firm in VanEck to introduce aBitcoin exchange-traded fund (ETF)inU.S. markets, said that investors prematurely expectedGoldman Sachs,Morgan Stanley, and other financial institutions in the U.S. to provide Bitcoin custodial solutions and operate digital asset exchanges.
Hesaid:
The market had unrealistic expectations that Goldman or any of its peers could suddenly start a Bitcoin trading business. That was top-of-the-market-hype thinking.
Morgan Stanley, Citigroup, and many other large banks that were rumored to launch Bitcoin-related ventures by the end of 2018 were most likely not going to aggressively enter a market built upon an asset class that is still at its infancy.
But, Goldman Sachs, the $61 billion investment banking giant, has been preparing to offer Bitcoin services to its clients for awhile.
As CCNreportedin June, for the first time in the company’s history, David Solomon, who is now the CEO of Goldman Sachs, directly confirmed that the bank has been clearing some Bitcoin futures for its clients with the intent of establishing a cryptocurrency trading desk in the foreseeable future.
“We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too. Goldman Sachs must evolve its business and adapt to the environment,” said Solomon in aninterviewwith Bloomberg TV in China.
Although Goldman Sachs could clear Bitcoin futures with the assistance ofCME,CBOE, and other established futures markets in the U.S. market, it cannot hold onto the cryptocurrencies owned by its investors or invest in the asset class on behalf of its clients without obtaining an approval to operate as a custodian.
In November, Justin Schmidt, a Goldman Sachs executive, said that the bank has not been able to receive approval from local financial authorities and in a period in which a bill pertaining to the legal definition of digital assets is still pending, it is risky for the institutions to provide services around the market.
“Custody is this foundational piece that is absolutely necessary. Custody is part of an overall integrated system where different parts need to work well with each other and safely with each other and you have to be able to trust all the different parts in that chain, from buying something to transferring it to storing it in for the long-term,” Schmidtsaidat the time.
It could have been unrealistic to expect Morgan Stanley, Citigroup, and many major banks in the global financial landscape to abruptly begin providing services on top of Bitcoin, and many of these institutions also likely saw a PR opportunity to alter their public image as some innovative and forward-thinking organizations.
However, some institutions like Fidelity and Goldman Sachs are seriously considering the long-term prospect of the market and in the long run, the two institutions could serve investors in the digital asset market.
Featured image from Shutterstock. Daniel Gallancy photo from LinkedIn.
The postWhy Goldman Sachs Suddenly Starting Bitcoin Business is Unrealistic: SolidXappeared first onCCN. || Crypto Market Loses $6 Billion as Bitcoin Price Retreats to $4,100: In the last 24 hours, more than $6 billion was wiped out of the cryptocurrency market asBitcoin (BTC), the most dominant cryptocurrency in the market, recorded a loss of 8.6 percent from $4,500 to $4,110.
On fiat-to-cryptocurrency exchanges likeCoinbase,Kraken, andBitstamp, the price of BTC reached a new weekly low at around $4,118. Bitcoin has since recovered to $4,291, but on a weekly basis, BTC remains 21.65 percent down against the US dollar.
Similar to Bitcoin’s strength at $6,000 from August to November, despite experiencing an intense sell-off, bears are struggling to bring BTC below the $4,000 support level.
IfBTCcontinues to defend the $4,000 level, in the weeks to come, there exists a possibility for BTC to end 2018 with a positive sentiment, potentially above $6,000 which has now turned into a major resistance level for the dominant cryptocurrency.
One alarming trend of bothBitcoinand other major cryptocurrencies is that the prices of leading digital assets are dropping by relatively large margins with low daily volumes. The volume of BTC is averaging at around $5.1 billion, which suggests that BTC has fallen by more than 3.5 percent in the past 24 hours without significant sell-pressure from bears.
On November 21, Chris Burniske, a Placeholder Management partner,said that the price of BTC has dropped substantiallyin the past ten days due to the low liquidity of the asset and the inability of BTC to defend a strong support level at $6,000.
BTC could establish $4,000 as a potential support level and experience a several-month-long consolidation period throughout the upcoming months. But, to confirm that, BTC would need to demonstrate a high level of stability and low volatility in the low price range of $4,000 to $4,500.
Burniskesaid:
“Ethereum has been through a broader deleveraging from the ICO boom from last year where funds were raised and those funds were used to raise and it’s kind of a cyclical deleveraging. The third thing is Bitcoin was forming support at $6,000 for about 3 to 4 months and there’s a lot of turbulence around a child of Bitcoin called Bitcoin Cash, which has also forked and that has perturbed the markets and broken that technical indicator and so we are searching for a new bottom in crypto land.”
Withinitial coin offering (ICO)projects struggling to find relevance in the space,Ethereum (ETH)is finding it difficult to secure any sort of momentum in its low price range.
In the past 24 hours,ETHhas dropped by more than 6 percent to $124, with a high volume of $2 billion.
Throughout the last six months,ETHhas rarely experienced a surge in its volume over the $1 billion mark. The $2 billion daily volume of the third largest cryptocurrency in the global market demonstrates increasing sell-pressure from individual sellers and ICOs.
Featured Image from Shutterstock. Charts fromTradingView.
The postCrypto Market Loses $6 Billion as Bitcoin Price Retreats to $4,100appeared first onCCN. || Bitcoin Price Sinks to New Yearly Low as Sell-Off Batters Crypto Markets: The crypto market’s extended stable action took its last breath on Wednesday as the bitcoin price dipped to a new yearly low at 5280-fiat.
TheBTC/USD indexfell more than 12 percent ahead of the US trading session, now trading at 5439-fiat onCoinbase. The pair was trading comfortably inside a narrow trading range since September, leading many to believe that it hadestablished a bottomaround 6000-fiat. The latest selling action brought BTC/USD to its weakest mark since October 2017.
Thebitcoin flash-crashcannot be fit inside the box oftechnicalitiesand must have a strong fundamental reason behind it. This kind of price action generally appears when exchanges trade unrealistically, or some kind ofregulatory actiontakes place. It will take a while for the market to understand the real catalysts behind the ongoing breakdown action.
Meanwhile, the US dollar continues to stay near its 16-month peak level. The greenback is benefiting from the speculation of an interest rate hike in December. Concerns overItaly‘s budget and ongoingBrexittalks are also injecting positive fundamentals to the dollar’s bullish bias.
In theprevious analysis, BTC/USD was trending lower inside a falling wedge formation, indicating a near-term breakout action according to traditional technical indications. But the flash-crash has changed the dynamics upside down, now bringing the pair inside a large falling wedge formation — as can be seen in the chart above. According to this update, BTC/USD has the potential to fall as low as 4500-fiat at the end of this bear cycle, before it attempts a brief rebound towards the upper trendline of the said wedge formation.
The RSI and Stoch on daily charts have dipped or are going to fall inside their respective oversold sentiment areas. The price continues to trade lower than it’s 100 and 200-period simple moving averages. Overall, its the most extreme bearish bias the market has seen in the past three months — most because $6,000 was supposed to hold the fort against bears.
We were able to exit our short position on a small profit but ended up wearing an equally small loss after our stops against the long trades got executed. Now, according to our intraday strategy, we are in the middle of nowhere, and the levels we have in hand do not hold any new historical significance. Typically, we should not trade in this choppy market. And probably, we will keep ourselves out of it. But to those who want to trade the market anyway, feel free to use what could have been our strategy.
That said, the BTC/USD pair has established a new yearly low, which serves us as a decent interim support level. To the upside, 5633-fiat is looking like a proper interim resistance level. We expect the pair would attempt a pullback from support to clear a long position scenario towards 5633-fiat. If one wants to go long amidst strong bearish bias, he or she should make sure to keep their stop losses just 2-pips below the entry point.
A breakdown action looks possible at this moment. That said, a break below support should keep traders away from the market. We don’t know how far this downtrend can go, so better to be safe than sorry.
In case BTC/USD breaks above the 5633-resistance level, then a long position towards 5712-fiat looks achievable. Nevertheless, maintaining a stop loss order just 3-pips below the entry level would minimize losses should the bearish bias extend.
Trade safely!
Featured Image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Sinks to New Yearly Low as Sell-Off Batters Crypto Marketsappeared first onCCN. || Op Ed: Anatomy of the Tether Attack: Are Stablecoins Vulnerable?: “Go for the Jugular” is the advice George Soros gave to his team during his famous attack on the British pound for a profit of $1 billion on so-calledBlack Wednesdayin 1992. On October 15, 2018, tether, the market dominating stablecoin with a market cap of $2 billion, wasattacked, breaking tether’s peg to USD, dropping its value by 7 percent but simultaneously driving up bitcoin and the whole crypto market by more than 10 percent. Even though nobody has claimed the attack yet, entrepreneurs, investors and customers of stablecoins should all carefully analyze existing and potential attacks and act accordingly.
Stablecoins, cryptocurrencies with stable value, are considered the “holy grail” of crypto since they could displace all the fiat money in the world which is about$90 trillion. As one might expect, investors have poured out hundreds of millions of dollars chasing stablecoin dreams, and, following the money, new stablecoin projects have come out left and right in 2018, which many have called the year of the stablecoin.
While there are many good articles on stablecoins, almost all of them focus on topics related tostablecoin designorwhy stablecoins are doomed to fail, and all analyses assume normal crypto market conditions rather than taking into account the volatile conditions we have experienced.
However, during an attack, the market movement is massive and sudden. Assuming these attacks are legal and highly profitable, just like Soros’ attack, they will come back again and again. Only the stablecoins that can survive these attacks can eventually become the “holy grail.”
As of the writing of this article, there is not much information or data regarding the Tether attack on October 15, 2018. Who were the attackers? What was the method to profit from the attack? How profitable was the attack? What resources were required to execute the attack? Was there any attempt to defend against it? However, just by analyzing some limited public data from CoinMarketCap, we can gain valuable insights around these questions that are important in understanding such an attack.
First, the attack is a classicalspeculative attack: a massive and sudden selling of a currency during a relatively short period of time. Such an attack is usually executed by financial speculators; in this case, it is rumored that the recent Tether attack was mounted byIMMO.
As shown in Figure 1, the whole attack was very short:only about three hours from start to finish. It started around Sunday, October 14, 2018, 10 p.m. PST (UTC-7:00) and finished around Monday, October 15, 2018, 1 a.m. PST (UTC-7:00). It took about 100 minutes to drive the tether price to the bottom at $0.925284. Then, about 65 minutes later, the price went back to $0.973513 and started to stabilize. The transaction volume during these three hours was about $2 billion, which was the average 24-hour trading volume around that period.
Figure 1: Tether’s 24-hour price from October 14, 2018, to October 15, 2018 (Source: CoinMarketCap)
Second, the method to profit from the Tether attack is actually different from the method used in Soros’ attack on the British pound. In Soros’ attack, shorting currency was used to generate profit: 1) First, Soros’ team built up a huge short position of pound sterling; 2) they executed a massive and sudden selling of the pound; and 3) they finally bought back the pound after breaking the peg, returned their borrowed pound and generated $1 billion in profit from the price difference.
In the Tether attack, it seems that the attacker(s) 1) first built up a big position in tether (either short or non-short position) and a big position in bitcoin or other crypto assets; 2) then executed a massive and sudden selling of tether, which drove the tether price down to the bottom and caused the bitcoin price to go up by about 10 percent; 3) finally sold the big bitcoin position to generate profit; and 4) possibly bought back tether at a lower price to reduce the loss from dumping tether.
I believe the attackers leveraged the fact that bitcoin and other crypto assets are perfectly negatively correlated with stablecoins. As shown in Figure 2, with about 15 minutes delay (CoinMarketCap only provided data in 5-minute intervals), the bitcoin price started to climb when the attack started, reached its peak when the tether price reached its bottom, and dropped as the tether price recovered.
Figure 2: Bitcoin’s 24-hour price from October 14, 2018, to October 15, 2018 (Source: CoinMarketCap)
Third, it is extremely hard to figure out exactly how profitable the attack was, given the limited data available. However, it is safe to say the attack was very profitable. Even though it does not let us determine the profitability of the attack, the whole crypto market went up 10 percent, adding $20 billion in value, while at the same time, tether dropped by about 7 percent, removing only about $210 million in value. That difference represents a tremendous opportunity for profit-taking.
Fourth, the effort to successfully execute the attack was huge but many people have the resources to mount such an attack. As a comparison, it took $10 billion short selling of the pound to break the peg; only Soros and a few others could have accumulated the resources needed in that attack.
As shown in Figure 3, if we assume the “Total Sell” volume was the capital required to break the tether peg to the bottom price of $0.925284 in ONLY 100 minutes, then it took more than $1 billion to achieve that. If we believe that there is a leverage in the market and that controlling 10 percent of the trading volume will move the market, then only about $100 million was required to start the attack and cause the market to follow.
Figure 3: Analysis of trading history during the Tether attack period (Source: CoinMarketCap)
Lastly, just as the British government tried to defend but eventually gave up defending against Soros’ attack, there was definitely an effort to defend Tether but it failed. As shown in Figure 3, if we assume the “Total Buy” volume was the effort to defend Tether, then the defender(s) spent at least $200 million, a huge amount that not many people can mobilize in a short 100 minutes.
Understanding the economic incentives for both attackers and defenders is critical to understand why attackers want to attack and how they attack, as well as whether defenders can actually defend the peg and whether they should even try.
The ultimate motivation for attackers to mount an attack on fiat currencies is economic gain. Who wouldn’t want to legitimately make $1 billion in profit as Soros did? The same motivation also holds true for attacking stablecoins. Stablecoin projects should recognize that breaking the peg is not the ultimate goal for speculators in mounting an attack. It is only a means to cause the expected market movements during the short attack period and profit from them accordingly, even though the stablecoins can return to the pegged price after the attack.
The key questions are whether attackers can design certain attacks that can generate financial profits or not, what resources are required to successfully execute the attack, whether the defender(s) have the capabilities to defend and whether they would be willing to defend or not. If there is a type of attack that is profitable, requires low effort to attack and cannot be defended, such a type of attack will come back again and again. Based on the above analysis on the recent Tether attack, the bad news for all stablecoin projects is that there is a profitable attack that requires low effort to execute successfully.
Some projects have argued that their designs candefend speculative attackslike Soros’ attack because there exists a large pool of “anti-Soros” speculators who can profit from defending the peg. But these arguments make the assumption that the attack will use the “shorting currency method” that Soros used.
This assumption will not hold if attackers use the method used in the recent Tether attack. During that type of attack, from a game theory point of view, speculators will generate more profit by joining the attack to further drive down the stablecoin price while at the same time driving up the price of bitcoin or other crypto assets, which will increase the spread when they return to sell the bitcoin at a higher price and buy back stablecoins at a lower price.
It seems the only party that has incentives to defend the peg is the project. Based on the analysis of the recent Tether attack, it requires a huge amount of capital in a short period of time to defend the peg. Unfortunately, none of the stablecoin projects today has the capital necessary to defend such an attack.
None of the stablecoin projects today can defend against a speculative attack!
Whether people like Tether or not, it should get some credit for attempting to defend the peg against the recent speculative attack. It spent at least $200 million to do so. It probably needs $500 million more to succeed in future attempts. More importantly, since these attacks happen during a very short period of time, there is no time to move money from the bank or issue bonds; therefore, the stabilization capital will need to be on hand, moving forward.
Some people argue that Tether is exiting the stablecoin business byretiringandburningtether. I would argue that Tether is actually moving capital from bank reserves to cash-on-hand (or at least attempting to reduce the reserve liability) so they can have a chance at defeating future attacks.
Fiat currency attacks are rare, even though a few of them have grabbed the headlines. Things are more complicated in the stablecoin market than in the fiat currency market. I expect there will be many more stablecoin attacks because there are more targets to attack, more types of attackers, more ways to profit, and more (and easier) ways to attack.
First, there are so many stablecoins projects —60+and increasing — and the majority of these stablecoins are competing for the USD-pegged market. Granted, most of these stablecoins have not reached the point where they are able to affect the market — many have not even launched yet. It won’t be a stretch to expect these will become targets for attacks sooner or later, especially since they all have some sort ofdesign flaws.
Second, the attackers of fiat currencies are financial speculators who mount the attacks purely for financial profits. In the end, Soros cannot issue a new currency to replace the British pound as the fiat currency for England. In stablecoins, a project has strong incentives to attack and kill another project. Again, it is rumored that the recent Tether attack was mounted by IMMO which is developing a competing stablecoin. Likewise, an exchange has strong incentives to mount a stablecoin attack to steal traders from other competing exchanges, as we saw during the recent Tether attack when traders switched from tether-based exchanges to non-tether-based exchanges.
Third, there are limited ways to profit from a speculative attack on fiat currency. In addition to profiting from killing stablecoin competitors and stealing traders from other exchanges, financial speculators could profit from the sudden price rise of bitcoin and other crypto assets which are negatively correlated with stablecoins. And there could be more ways to profit that people haven’t even thought of yet.
Fourth, it requires a lot of capital to mount an attack on fiat currency and only a few speculators can secure that large amount. Soros amassed $10 billion for the famous British pound attack. The market cap of any stablecoin is still small and the ratio between fiat-inflow and crypto market cap is1:50. Hence, it seems that a relative small amount of capital is enough to mount a successful attack. Due to some stablecoin designs, stablecoins can be attacked in ways that did not exist in fiat currency attacks, such as anoracle attack, which might even be easier.
As the recent Tether attack is written into history, I hope this can serve as a wake-up call for all existing and future stablecoin projects. When designing their stablecoins, projects should consider not only how the system will function in normal market movement environments but also the response strategy in extreme market movement situations when their stablecoins are being attacked. Only the stablecoins that can survive all attacks can become the “holy grail” of the crypto.
This is a guest post by Henry He. Opinions expressed are his own and do not necessarily reflect those of Bitcoin Magazine or BTC Inc.
This article originally appeared onBitcoin Magazine. || Bitcoin Price Drops 7% Yet Again as Crypto Market Struggles to Retain Momentum: Throughout the past 24 hours, the price ofBitcoin (BTC)dropped from $4,065 to $3,600, reversing a short-term corrective rally.
The dominant cryptocurrency has been on a steep downtrend for several weeks but on November 26, for a brief of time,Bitcoinseemed to be initiating a corrective rally after reaching a new yearly low at around $3,400.
Temporarily, Bitcoin spiked to $4,000, engaging in a 17 percent increase in price within a 24-hour period. However, the price of the asset began to fell back to the lower region of $3,000.
The cryptocurrency market is struggling to sustain any sort of momentum in an attempt to create a trend reversal. Sell pressure on major digital assets is increasing and buy pressure is declining, which has led both Bitcoin and Ethereum to drop by more than 40 percent in the past two weeks.
“Bitcoin failing to complete the bull flag and to hold the neckline of the IH&S. Lack of buy pressure and $3,800 range looking weak. Expecting more downside: $3,400 as first target,” cryptocurrency trader Crypto Randsaidon November 26.
Since Monday, the price of BTC has moved closer to the $3,400 support level and based on the movement of BTC in the past 12 hours, it is likely that BTC will drop below the level in the days to come, especially if it fails to maintain stability above the $4,000 mark.
Ripple (XRP),EOS,Stellar (XLM)and other major cryptocurrencies are in a worse position than BTC and ETH because of their low daily volumes. Currently, the volume of ETH remains larger than that of XRP, XLM, and BCH combined.
When the price of an asset falls substantially without a huge spike in volume, it represents a free fall without much sell pressure. Which means as big sell volumes begin to the hit the market, the price of the asset could be vulnerable to additional sell-offs in the near future.
The volume of BTC is decent at $6.5 billion and the volume of ETH is also relatively high. But, the volume of other major cryptocurrencies are lower than where they were from August to November, a period in which BTC demonstrated its lowest level of volatility in recent history.
Alex Krüger, a cryptocurrency trader and economist,said:
“Before the crash BTC had been growing exponentially. Will BTC ever resume exponential growth? Maybe not. Maybe only temporarily. Many assets don’t grow exponentially. What if bitcoin has matured and starts behaving as a currency or most commodities?”
The newly introduced crypto exchange-traded product (ETP) inSwitzerlandoffered by Amun and the Swiss Stock Exchange, has began to appeal to a large group of traders in the region.
It hasbecomethe biggest ETP in Switzerland with the highest trading volume, portraying an immense interest from local investors towards crypto.
Featured Image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Drops 7% Yet Again as Crypto Market Struggles to Retain Momentumappeared first onCCN. || Crypto Market Crash Takes Pressure off Us: UK Regulators: Britain’s financial regulatory body has had some pressure taken off its shoulders as the downturn in the value of bitcoin and other digital assets signaled a reduction in the threat cryptos could pose to the British financial system,per a Reuters report.
Last year, the world witnessed a crypto explosion, as digital assets like bitcoin and ethereum saw astronomical increases in their value. Bitcoin particularly had a good year in 2017, reaching a record high just under $20,000 the week before Christmas. This increase in value sparked a worldwide debate, with different countries coming out with varyingcryptocurrency regulations, in a bid to stem the craze.
However, 2018 has been something of a different song entirely. Cryptoassets have been trading below their 2017 values, settingnew lowsthroughout the past week. At press time,bitcoinis currently trading around the $4,500 level whileethereumis valued near $135. The fall in prices seems to have been aided by a reduction in daily volume as investors are not really incentivized to buy, and it seems to have also eased the pressure on the British regulatory body to take any further action to stem the once-hot crypto craze.
Speaking at a City & Financial conference, Gillian Dorner, Deputy Director for Financial Services at the British Ministry of Finance, was quoted by Reuters saying:
“We want to take the time to look at that in a bit more depth and make sure we take a proportionate approach.”
That statement marks a notable shift in tone from previous comments that regulators had made on the state of the crypto market. Earlier this year, theBank of Englandissued a warning of an imminent crackdown on bitcoin and other cryptocurrencies, citing that these “inherently risky” currencies failed to fulfill their basic obligations as money and alternative forms of legal tender.
Just last month, a task force formed with representatives from the Ministry of Finance, the Bank of England, and theFinancial Conduct Authority(FCA),recommended a banon the retail sale of derivative products linked to cryptocurrencies.
However, things seem to have eased up a bit, and promise to remain that way unless the market takes an unexpectedly feverish turn. In the meantime, Christopher Woolard, the Executive Director for Strategy and Competition at the FCA, said the agency would by the end of the year examine the “grey edges” around the current regulatory framework.
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The postCrypto Market Crash Takes Pressure off Us: UK Regulatorsappeared first onCCN. || Blue Apron's Costco Experiment Might Not Be Working Out as Planned: Blue Apron(NYSE: APRN)has temporarily halted its partnership withCostco(NASDAQ: COST)over the holidays, which suggests the twomight not be a good fit.And comments made by CEO Brad Dickerson during the meal-kit service's third-quarter earnings conference call earlier this month indicate there are problems between the two, as well.
Dickerson says Costco wants more shelf space for other food items that sell better than meal kits, which historically are slow movers during the holidays. He also says that this action will give Blue Apron the opportunity to come up with better packaging to reduce waste.
That could indicate that the meal kits aren't a big seller regardless of the season, and could mean Blue Apron won't return to the warehouse club in the new year.
Image source: Blue Apron.
Blue Apron understands its subscription-based business model isn't working. It costs too much to acquire new customers and they don't stick around very long after signing up -- meaning the company has to continuously ramp up marketing costs to attract more people.
The company just declared that it willsignificantly pare backhow much it spends on marketing, preferring instead to focus its efforts on the small core group of customers it already has who spend the most on the service. Blue Apron will also try to distribute its meal kits more broadly through partnerships. It recently collaborated withWalmart's(NYSE: WMT)Jet.com to sell meal kits on a specialstorefront it set upon the e-commerce site.
Removing its meal kits from Costco's refrigerators over the Christmas holiday is just a weird development. An argument could be made that this season is the perfect time to have meal kits available, since people are out shopping for gifts and don't want the added hassle of coming home to prepare dinner. A meal kit with all the ingredients packaged and ready to cook in a short amount of time ought to meet that need, though restaurants do perform better this time of year for that same reason-- and there are no dishes or pans to wash afterward.
Yet Dickerson says Blue Apron's kits are historically a relatively slow-moving item at this time of year, so they will "hit pause" for the holidays and target returning to the store in 2019.
That Blue Apron's subscription meal kits are a challenge to sell because they're a pricey meal alternative may make sense. But they sell at a discount in Costco compared to their subscription price, which means they may be moving even more slowly in-store than anticipated.
Supporting that conjecture are other comments made by Dickerson about what Blue Apron needs to achieve when it returns to Costco next year and also tries to expand to other channels.
First, he says, Blue Apron needs some "some pretty decent product innovation... [that provides] a better way to manage shelf life and shrink in ways going forward." That sounds like customers don't particularly care for the assortment of meal kits Blue Apron offers, so Costco ends up having to throw out a lot of food because it's sitting in the refrigerator too long.
Dickerson admits Blue Apron discovered certain meal-kit combinations perform better in certain regions of the country than in others, so it needs to target the menu based on regional taste preferences. That shouldn't have been a revelation, and it may be an expensive option to introduce if the company wants to keep selling in Costco. If it finds other national partners willing to sell its meal kits, Blue Apron will have to tailor the menu to them, as well.
While Dickerson says Blue Apron is "targeting to resume in Costco" in 2019, that actually doesn't sound like it's guaranteed. The companies are taking a break from each other over the holidays and Blue Apron needs to work out how to improve its product's shelf life so its slow-selling kits can hang around the refrigerators longer. Don't be surprised if the pilot program isn't extended.
Online partnerships like the one Blue Apron has with Jet.com may be a better fit as they allow a lower-cost way to offer customers the full breadth of its products. Jet's upscale target demographic means Blue Apron can still charge a premium, though commoditization is driving down meal-kit pricing.
The Costco venture doesn't sound like it's panning out as either company expected, and this pause may turn into a permanent separation come the new year.
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Rich Dupreyhas no position in any of the stocks mentioned. The Motley Fool recommends Costco Wholesale. The Motley Fool has adisclosure policy. || Bitcoin Price Continues to Bleed as Market Fails to Find a Bottom: bitcoin price bicycle flat tire The bitcoin price on Monday continued its crash course despite showing gains during the early Asian trading session. The digital currency attempted a go at its yearly low at ~$3,455 after reversing from its intraday peak at $4,115. That overall marked a circa 14 percent crash, setting standards for a further bearish action. The BTC/USD index at press time is trading at 3581-fiat, eyeing potential support from 3508-fiat. The market has once again created a psychological bottom area inside a 3000-to-3500-fiat range. There is so far no evidence that could prove a potential [strong] reversal at any of these levels. The last time BTC/USD tested these levels as support was in September 2017. The technical dynamics were different then the pair was trending above its 50-period, 100-period, and 200-period simple moving averages while forming higher highs. In November 2018, however, the technicalities have turned upside down. The bitcoin price is now trending below its key moving averages, forming lower lows. The question remains whether the levels that were strong supports during an uptrend should remain equally robust when the asset is on its way down. Fundamentals are the Only Savior The bitcoin technical indicators in the present could serve the purpose to instruct traders about potential entry and exit positions. They wont be able to provide any long-term prospects unless the market truly establishes a bottom and rebounds with strong volume. Analysts predicting bottoms could at most be patting their own backs for making a right guess, not a prediction based on market demand. The fundamental aspects of bitcoin, meanwhile, continue to be strong owing to the impending launch of Bakkt , an ICE-backed crypto exchange, and the potential approval of a bitcoin ETF by the last quarter of 2019. These are among the only remaining factors that should keep the investors interest alive in a bleeding market. Story continues For day traders, the chart above could be relevant. The BTC/USD rate is visibly inside a descending parallel channel (and a long-term falling wedge formation discussed in our previous analysis ). Well stick to a parallel channel in this report to understand the near-term dynamics. The bitcoin price could restest the channel support for a potential pullback towards 3500-fiat, an interim long target, followed by a run towards the channel resistance as the primary upside target. An intra-channel long position should be coupled with a stop loss target 4-pips below the entry position to safeguard the trade. Similarly, there is a high probability that BTC/USD will reverse from the channel resistance, then attempt a breakout action towards 4374-fiat, the interim upside target. A short position towards 3508-fiat upon an uptrend reversal should promise some decent profits. Nevertheless, maintaining a stop loss order 4-pips above the entry position will reduce the overall risk from the trade. Trade safely and try not to catch a falling knife. Featured Image from Shutterstock. Charts from TradingView . The post Bitcoin Price Continues to Bleed as Market Fails to Find a Bottom appeared first on CCN .
[Random Sample of Social Media Buzz (last 60 days)]
最も高くBTC/JPYを売れるのは？(2018-12-03 04:00:04 現在)
coincheck 467001.00
bitbank 466768.00
Liquid 466291.88
bitFlyer 466238.00
BITPoint 466127.76
Zaif 463940.00 || QKC/BTC down -5.24% in the last hour!
Volume has changed 89.08%
$QKC $BTC
Use me On Telegram
http://t.me/cryptowhalebot pic.twitter.com/VksguwCCTh || Bitcoin (BTC) up Nearly 20% in 48 Hours, How High will It Go?: Bitcoin (BTC) made a rather… https://goo.gl/fb/oqzdG7 || Top 5 #cryptocurrencies
Alert Time: 2018-11-15 00:20:01
#Bitcoin: $5,619.289
#Ethereum: $178.093
#XRP: $0.454
#BitcoinCash: $433.107
#Stellar: $0.226
#instacryptocurrency #instabitcoin #instaairdrop #cryptocurrency $LTChttp://www.coincaps.ai || Amazon ha lanzado un nuevo servicio para construir blockchains https://goo.gl/fb/PPfa9B #noticias #bitcoin || Bitcoin HODL Rocket in deep space. #bitcoin #hodl #bitcoinmining #bitcoinprice #bitcoiner #bitcointechnology #bitcoinvalue #bitcoinwallet https://t.co/zFfoQPU4Ur #bitcoin Please ReTweet || El precio del #BTC $4,176.11 #criptomonedas #bitcoin || Yesterday, after a brief consolidation BTC in the area of 4170.00 USD, an attempt was made to re-test 38.2% Fibo (4429.37 USD), but something went wrong...
Read more - http://bit.ly/2T9DYuA pic.twitter.com/qVd8GRwsfC || This is from Bitcoin’s whitepaper.
I never thought about how analogous the processes are between the two. Not private by any means, but interesting. || BTC,ETH,XRP
Last: 5665.00, 180.42, 0.48
High: 5782.89, 185.00, 0.50
Low: 5403.42, 170.99, 0.43
%: 0.01% , 0.01% , 0.05%
Total USDT: 74.30, 2.06, 0.02
#BTC #bitcoin #ETH #XRP #ripple #crypto #cryptocurrency #pricepic.twitter.com/vJaipXeLwB
|
Trend: down || Prices: 3845.19, 4076.63, 4025.25, 4030.85, 4035.30, 3678.92, 3687.37, 3661.30, 3552.95, 3706.05
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-04-26]
BTC Price: 466.09, BTC RSI: 80.99
Gold Price: 1242.20, Gold RSI: 51.95
Oil Price: 44.04, Oil RSI: 65.15
[Random Sample of News (last 60 days)]
7 Signs Americas Super-Rich Are Finally Losing Power: With billionaire Donald Trump the Republican frontrunner, it may seem like the impact of the ultra-rich on our public life is reaching new heights. A self-proclaimed billionaire (Trump still hasnt released his tax records ), Trumps anti-establishment, anti-Wall Street, anti-free-trade rhetoric has him running as a traitor to his class, though. A loose affiliation of the super rich has been scheming to halt his rise most recently, Mitt Romney but so far, without any success. In fact, there are plenty of signs that plutocrats are losing their grip on the levers of power and influence. Yes, income inequality continues to rage . But plenty of people with ten-figure net worths simply arent getting the satisfaction to which they have become accustomed. We may have reached Peak Plutocrat. The phenomenon can best be seen in politics, where the kings of private enterprise are having a tough time playing kingmaker this time around. Bloomberg for President Remember that? If you blinked, you missed it. In late January, the former Mayor of New York Michael Bloomberg, proprietor of the eponymous company, whose fortune is estimated at $36 billion to $48 billion , briefly considered jumping into the race. Never mind that third-party candidacies dont do well in the U.S., or that Bloomberg's constituency (coastal rich people who are socially liberal) are generally in the Hillary Clinton camp already. The candidacy of Mike Bloomberg, the billionaire candidate beloved by billionaires (hedge fund giant Bill Ackman wrote a passionate pro-Mike op-ed in the Financial Times), failed to launch. And then there was Jeb! Former Florida Governor Jeb Bush blew through $100 million of the establishments money before bowing out. Stanley Druckenmiller, the retired hedge fund billionaire, is backing. . . . John Kasich. The dealmakers from 2012 In 2012, Sheldon Adelson, the Las Vegas casino magnate, played an immensely influential role in the Republican primary and general election. In 2016? Not so much. The Las Vegas Review Journal, the newspaper (!) Adelson recently purchased, has endorsed Marco Rubio , a victor in precisely one caucus. And Adelson has yet to put his card on the table. Story continues The Koch brothers feel disenfranchised For their part, the Koch brothers, who have used their billions to build a highly effective political operation that runs in parallel to the Republican party, are feeling disenfranchised. Far from adopting the Koch Brothers line on free trade, or immigration, the Republican field is running in the opposite direction. "You'd think we could have more influence," Charles Koch groused to the Financial Times . On March 3, Reuters reported the Koch brothers had decided not to use any of their war chest to fight Trumps candidacy. As Reuters notes, the brothers made the decision because they were concerned that spending millions of dollars attacking Trump would be money wasted , since they had not yet seen any attack on Trump stick. No longer minting money, either Billionaires are not doing so hot in the stock market, either. Bill Ackman, the proprietor of Pershing Square, shot the lights out in 2013 and 2014; Ackmans brand of dramatic activism and willingness to go all-in on high-profile stocks gave his fund a impressive returns. But last year , his main fund was off 20.5 percent, net of returns; its off more than 15 percent so far in 2016. Whoops! John Paulson, the hedge fund manger who shot to prominence on the backs of bearish bets on the housing market and was thus elevated into the market sage, is literally half the asset manager he used to be . As air comes out of the markets that Plutocrats rely on and love the stock market, yes, but also junk bonds, tech start-ups, natural resources their spending power and public influence are starting to deflate. (The egos, not so much.) Real estate values wane High-end real estate in London, which has functioned as a sort of safety deposit box for the globes ultra wealthy, is starting to fall . In Manhattan last year, the number of contracts signed on condos worth more than $10 million fell 16 percent, from 270 to 227. So if you're in the business of selling trophy properties to ultra-rich people, you may be struggling. Christie's reported that its sales of fine art were down 11 percent in 2015 and Sotheby's said that so far this quarter, sales are off 33 percent . TV, the lagging indicator Don't get me wrong. While signs are everywhere that their influence on our culture and economy are declining, the Plutocrats like the poor will always be with us. And they will often be unavoidable. One of the better new shows to debut this TV season is Showtime's Billions , featuring Damian Lewis as Bobby Axelrod, a Steve Cohen-esque hedge fund manager. Billions has been picked up for a second season. But even a show that humanizes and dramatizes plutocrats is a sign of their peak. When it comes to business trends, television shows are always an extremely lagging indicator. In the fall of 2000, the debut of a show about the bull market, The$treet, presaged the impending market crash. In October 2005, ABC aired Hot Properties, a sitcom starring Sofia Vergara about a group of realtors in California. The housing market began to crash the following year. See original article on Fortune.com More from Fortune.com The Crisis in Bitcoin and the Rise of Blockchain 3 Ways to Win Over Your Boss Here's Why China Laying Off 1.8 Million Workers Is Actually Good News Your Great Idea Will Fail Without This These Are the Super-Rich People Shaping China || Benton Capital Acquires Lithium and Graphite Projects and Changes Name of Company: THUNDER BAY, ONTARIO--(Marketwired - Apr 20, 2016) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") is pleased to announce that the Board of Directors have unanimously agreed to refocus the Company's efforts toward a 100% green-energy exploration and development company. The main focus will be the acquisition and development of high quality Lithium and Graphite projects which the Company considers to be the necessary metals of the future as demand and growth continues worldwide driven by green technology. This includes lithium ion batteries used in electric cars, smart phones, tablets, and home and industrial power storage along with many other applications. Companies such as Tesla launched their home storage lithium-based Powerwall battery system which sold out in August 2015 and Tesla has said it will aim to source raw materials locally in North America where responsible mining laws are in effect which will reduce the environmental footprint. Pursuant to this new direction and subject to regulatory approval, Benton will subsequently change its name to Alset Energy Corp. and in is the process of applying for a new trading symbol. Given the Company's new focus it would also like to announce that it has acquired by staking a 100% interest in the Wisa Lake Lithium deposit located 80km east of Fort Frances, Ontario. The property is connected to Highway 11 (Trans Canada) located 65 kilometres north via an all weather paved road that crosses the centre of the project. The property is comprised of 2 claims totaling 30 units and covers the Wisa Lake deposit that is host to a historical resource of 330,000 tonnes grading 1.15% Li 2 O (Lexindin Gold Mines Ltd., Manager's Report, 1958; Ontario Geological Survey, Open File Report 6285, Report of Activities 2012). In 1956 Lexindin completed a total of 20 drill holes (packsack and AQ-sized core) over a strike length of 335m and to a depth of approximately 65m to outline the Wisa Lake lithium mineralization. The diamond drill log of the most easterly hole intersected 6.4m containing 20% of the lithium-bearing mineral spodumene suggesting the mineralization is open at depth and to the east. It should be noted that the historical resource estimate for the deposit was calculated prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical estimates as current mineral resources. Further diamond drill programs are required to bring the mineralization into a proper NI 43-101 compliant category. Story continues The Company has also agreed to acquire a 100% interest in the Champion Graphite project from Benton Resources Inc. (TSX VENTURE:BEX) (a company related by common directorships) for a payment of 1 million shares to Benton Resources Inc. and subject to a 2% NSR. Benton Capital will have the option to buy back 1% of the NSR for $500,000. The Champion Graphite project represents a non-core asset of Benton Resources Inc. and the related party directors of each of the respective companies abstained from voting to approve the acquisition. The retained NSR provides Benton Resources Inc. with the opportunity to participate in any future success of the project. The Champion Graphite project is located north of Kenora, Ontario and consists of 29 units in 2 claims. The ground covers a large concentration of airborne electromagnetic anomalies hosted in metasediments. The airborne survey was conducted by Dighem Surveys & Processing Inc in 1989 on behalf of Champion Bear Resources Ltd. Dighem describes the anomalous area as consisting of numerous sub-parallel bedrock conductors of variable strength associated with a highly complex magnetic unit (MNDM assessment files). A year prior to the airborne geophysical survey, historical trenching was conducted by Bellwether Resources Ltd. in 1988. The trenching uncovered graphite occurrences where channel samples returned weighted average grades of up to 1.76% carbon over 25.0m (MNDM assessment files). Stephen Stares, Company President and CEO stated "we are excited to embark on this new strategic course aimed at providing shareholder value and growth. The importance of exploration and development of metals used in green technology cannot be understated and Benton looks forward to acquiring and developing quality assets in this space". All of the above transactions are subject to TSX.V and regulatory approvals. Benton Capital is well funded with approximately $1 million in cash. Clinton Barr (P.Geo.), V.P. Exploration for Benton Capital Corp., is the qualified person responsible for this release and has reviewed and approved all scientific and technical data and disclosures in this release. On behalf of the Board of Directors of Benton Capital Corp, Stephen Stares, President THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. || Japan looks to kickstart 'fintech' revolution: By Thomas Wilson TOKYO (Reuters) - A laggard in embracing the 'fintech', or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals' cash deposits. Strict regulation, easy access to credit due to rock-bottom interest rates, and weak demand for innovative financial services from a risk-averse population that still prefers cash to credit cards, have strangled fintech's advance in Japan. Fintech ventures - usually start-ups leveraging technology from cloud data storage to smartphones to provide loans, insurance and payment services - raised $2.7 billion in China last year, and over $1.5 billion in India, according to CB Insights data. Ventures in the United States attracted investment of around $7.4 billion. In comparison, investment in Japanese ventures reached only around $44 million in the first nine months of 2015. Now, Japan's financial industry regulator hopes relaxed rules on investing in financial ventures, and a new system for regulating virtual currency exchanges will pass through parliament by May - a first step in kickstarting the fintech revolution in the world's third-biggest economy. "The law changes aren't a goal, but a first step," Norio Sato, a senior official at the Financial Services Authority (FSA), told Reuters. "Fintech will have a big impact on financial services." The changes, which will allow banks to buy stakes of up to 100 percent in non-finance-related firms, will free up Japan's three megabanks to enter into tie-ups with fintech ventures developing services including robotic investment advisory and blockchain, the decentralised ledger technology behind the bitcoin digital currency. Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group have said they are eyeing such investments, having previously been restricted to holding stakes of only 5-15 percent in start-ups. Under pressure from weak loan demand, the megabanks see an opportunity to earn money through fintech, but are also aware of its potential to disrupt traditional business models. GAME CHANGER The unpromising fintech environment in Japan - which was blindsided by the high-profile collapse of the Mt. Gox bitcoin exchange in 2014 when hackers stole an estimated $650 million worth of the digital currency - has seen some entrepreneurs go overseas for funding. Junichi Horiguchi, co-founder and CEO of bitcoin service provider Zerobillbank Ltd, established his start-up in Tel Aviv last year to take advantage of Israel's advanced technology industry. Investment in fintech start-ups by global banks and tech giants including Barclays, Google and Facebook is far more common in Israel than in Japan, he said. "It's completely different over there," Horiguchi told Reuters. "Every month there are open innovation contests and (start-up) accelerator programmes." Sales at Japan's fintech start-ups could jump to over half a billion dollars by 2020 as the use of technology such as blockchain increases, Yano Research Institute said in a report. The new rules the FSA is promoting on virtual currency exchanges could make Japan one of the first countries to regulate bitcoin at a national level. "Japan hasn't previously been enthusiastic about fintech," said Sato. "But creating these rules this fast could gain the world's attention." Bitcoin entrepreneurs, often reliant on investment for growth, have called for clearer regulation and will welcome the latest changes, said Yuzo Kano, founder and CEO of bitcoin exchange bitFlyer Inc, and head of the Japan Authority for Digital Assets, a lobbying group. "The establishment of the law is extremely surprising," Kano said, referring to how quickly the FSA had drafted the law. "It's set to be very successful." ($1 = 112.95 yen) (Reporting by Thomas Wilson; Editing by Ian Geoghegan) || Benton Capital Increases Land Package at Wisa Lake Lithium Project: THUNDER BAY, ONTARIO--(Marketwired - Apr 26, 2016) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") would like to announce that it has acquired a 100% interest through staking in an additional 30 units in 2 claims at its Wisa Lake Lithium project located 80km east of Fort Frances, Ontario (see BTC PR April 19, 2016). The property is connected to Highway 11 (Trans Canada), located 65km north, via an all-weather road that crosses the centre of the project. The land position was increased in order to cover an additional spodumene-bearing pegmatitic dyke located approximately 900m south of the Wisa Lake zone. Selective grab samples collected from the zones have been submitted to the laboratory for analysis. As indicated in the Company's PR dated April 19, 2016, the property covers the Wisa Lake deposit with a historical resource of 330,000 tonnes grading 1.15% Li 2 O (Lexindin Gold Mines Ltd., Manager's Report, 1958; Ontario Geological Survey, Open File Report 6285, Report of Activities 2012). In 1956, Lexindin completed a total of 20 drill holes (packsack and AQ-sized core) over a strike length of 335m and to a depth of approximately 65m to outline the Wisa Lake lithium mineralization. The diamond drill log of the most easterly hole intersected 6.4m containing 20% of the lithium-bearing mineral spodumene suggesting the mineralization is open at depth and to the east. It should be noted that the historical resource estimate for the deposit was calculated prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical estimates as current mineral resources. Further diamond drill programs are required to bring the mineralization into a proper NI 43-101 compliant category. The Company has recently applied to change its name to Alset Energy Corp. and in is the process of applying for a new trading symbol. The Company has also granted 2,395,000 options to officers, directors and consultants of the company at a price of 7 cents for a period of 5 years. Story continues All of the above transactions are subject to TSX.V and regulatory approvals. Benton Capital is well funded with approximately $1 million in cash. Clinton Barr (P.Geo.), V.P. Exploration for Benton Capital Corp., is the qualified person responsible for this release and has reviewed and approved all scientific and technical data and disclosures in this release. On behalf of the Board of Directors of Benton Capital Corp, Stephen Stares, President THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. || Traders: These 4 stocks could take off: A SpaceX rocket launch Friday had "Fast Money" traders debating which stocks could soon blast off. Mechel Trader Tim Seymour believes Russian mining company Mechel (: NULL) has upside following a sustained slide in the prices of many commodities. Its U.S.-listed stock has climbed nearly 12 percent this year but has still plunged about 38 percent in the past 12 months. KB Home Trader Steve Grasso touted shares of KB Home (NYSE: KBH) , which have risen 17 percent this year. He owns the stock, which he said could be a merger or acquisition target. Grasso noted he would use a $14 stop for the stock, which closed at about $14.50 on Friday. Market Vectors Gold Miners ETF Trader Guy Adami contended the Market Vectors Gold Miners ETF (NYSE Arca: GDX) which has soared 56 percent this year could climb even more. The fund has rallied this year along with gold futures, which are up about 17 percent. Deutsche Bank Trader Brian Kelly, on the other hand, said he would sell a stock that has failed to get off the ground. He noted he would stay away from Deutsche Bank (XETRA: DBK-DE) , which has lagged the broader market. The bank's U.S.-listed shares have plunged 34 percent this year. Disclosures: Tim Seymour Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, EDC, EWZ, F, FCX, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, MPEL, NKE, RACE, RAI, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN Steve Grasso Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long WYNN kids own EFA, EFG, EWJ, IJR, SPY Brian Kelly Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWA, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || Bitcoin Investing Improved Last Quarter: While Bitcoin may not have ended 2015 on a strong note, things could be turning around for the cryptocurrency.
For example, Q4 was "surprisingly anemic," but the first quarter has seen $160 million in investments, according toMattermark, citing CoinDesk figures.
"Bitcoin had its best fundraising quarter in a year," Mattermark's Alex Wilhelm said.
"I'm not sure that the industry will ever beat the first quarter of 2015, when more than $200 million went into bitcoin firms, including huge sums into Coinbase and 21. Still, closing well north of the $100 million mark is a big step up from every other quarter recorded last year," Wilhelm commented.
Related Link:10 Of This Year's Hottest Financial Buzzwords
"In fact, it appears that the first quarter of 2016 was the second most active period in terms of total dollars raised for bitcoin firms in at least the last two years."
Looking Ahead
Based upon the transaction volume over the last year and the improvement over last quarter, it's probable that bitcoin may be making its way back into investors' favor. "In the last year, transaction volume across bitcoin – to pick a single metric – has roughly doubled. That's not the same pace of growth that the cryptocurrency saw in its infancy, but it is material," Wilhelm explained.
"Combine that statistic with an increasingly stable price and continued investment and bitcoin look just fine."
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 7 Signs America’s Super-Rich Are Finally Losing Power: With billionaire Donald Trump the Republican frontrunner, it may seem like the impact of the ultra-rich on our public life is reaching new heights.A self-proclaimed billionaire (Trump still hasn’treleased his tax records), Trump’s anti-establishment, anti-Wall Street, anti-free-trade rhetoric has him running as a traitor to his class, though. Aloose affiliation of the super richhas been scheming to halt his rise — most recently,Mitt Romney–but so far, without any success.
In fact, there are plenty of signs that plutocrats are losing their grip on the levers of power and influence. Yes,income inequality continues to rage. But plenty of people with ten-figure net worths simply aren’t getting the satisfaction to which they have become accustomed.
We may have reached Peak Plutocrat.
The phenomenon can best be seen in politics, where the kings of private enterprise are having a tough time playing kingmaker this time around.
Bloomberg for President
Remember that? If you blinked, you missed it. In late January, the former Mayor of New York Michael Bloomberg, proprietor of the eponymous company, whose fortune is estimated at$36 billion to $48 billion, briefly considered jumping into the race. Never mind that third-party candidacies don’t do well in the U.S., or that Bloomberg's constituency (coastal rich people who are socially liberal) are generally in the Hillary Clinton camp already.
The candidacy of Mike Bloomberg, the billionaire candidate beloved by billionaires (hedge fund giant Bill Ackman wrote apassionate pro-Mike op-edin theFinancial Times),failed to launch.
And then there was Jeb!
Former Florida Governor Jeb Bush blew through$100 million of the establishment’s moneybefore bowing out.
Stanley Druckenmiller, the retired hedge fund billionaire, is backing. . . . John Kasich.
The dealmakers from 2012
In 2012, Sheldon Adelson, the Las Vegas casino magnate, played an immensely influential role in the Republican primary and general election. In 2016? Not so much. TheLas Vegas Review Journal,the newspaper (!) Adelson recently purchased,has endorsed Marco Rubio, a victor in precisely one caucus. And Adelson has yet to put his card on the table.
The Koch brothers feel ‘disenfranchised’
For their part, the Koch brothers, who have used their billions to build a highly effective political operation that runs in parallel to the Republican party, are feeling disenfranchised. Far from adopting the Koch Brothers’ line on free trade, or immigration, the Republican field is running in the opposite direction. "You'd think we could have more influence," Charles Kochgroused to theFinancial Times.
On March 3, Reuters reported the Koch brothers had decided not to use any of their war chest to fight Trump’s candidacy. As Reuters notes, “the brothers made the decision because they were concerned that spending millions of dollars attacking Trump wouldbe money wasted, since they had not yet seen any attack on Trump stick.”
No longer minting money, either
Billionaires are not doing so hot in the stock market, either. Bill Ackman, the proprietor of Pershing Square, shot the lights out in 2013 and 2014; Ackman’s brand of dramatic activism and willingness to go all-in on high-profile stocks gave his fund a impressive returns. Butlast year, his main fund was off 20.5 percent, net of returns; it’s off more than 15 percent so far in 2016.Whoops!John Paulson, the hedge fund manger who shot to prominence on the backs of bearish bets on the housing market and was thus elevated into the market sage, isliterally half the asset manager he used to be.
As air comes out of the markets that Plutocrats rely on and love — the stock market, yes, but also junk bonds, tech start-ups, natural resources — their spending power and public influence are starting to deflate. (The egos, not so much.)
Real estate values wane
High-end real estate in London, which has functioned as a sort of safety deposit box for the globe’s ultra wealthy,is starting to fall. In Manhattan last year, thenumber of contractssigned on condos worth more than $10 million fell 16 percent, from 270 to 227.
So if you're in the business of selling trophy properties to ultra-rich people, you may be struggling. Christie'sreportedthat its sales of fine art were down 11 percent in 2015 and Sotheby's said that so far this quarter,sales are off 33 percent.
TV, the lagging indicator
Don't get me wrong. While signs are everywhere that their influence on our culture and economy are declining, the Plutocrats — like the poor — will always be with us. And they will often be unavoidable. One of the better new shows to debut this TV season isShowtime'sBillions,featuring Damian Lewis as Bobby Axelrod, a Steve Cohen-esque hedge fund manager.Billionshas been picked up for a second season.
But even a show that humanizes and dramatizes plutocrats is a sign of their peak. When it comes to business trends, television shows are always an extremely lagging indicator. In the fall of 2000, the debut of a show about the bull market, The$treet, presaged the impending market crash. In October 2005, ABC airedHot Properties,a sitcom starring Sofia Vergara about a group of realtors in California. The housing market began to crash the following year.
See original article on Fortune.com
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• These Are the Super-Rich People Shaping China || Bitcoin community disputes the use of 'Internet of Money': Some people in the bitcoin world—the believers still waving the flag for the leading digital currency, which is currently trading at $427—will tell you that the phrase “The Internet of Money” is widely understood as a reference to bitcoin and its underlying technology, the blockchain. But Uphold, a “cloud bank” startup that launched in 2014, will tell you it is their corporate slogan. It applied to register the phrase as its trademark for financial services back in September 2015with the US Patent & Trademark Office, and is far along in the process.
Andreas Antonopoulos doesn’t like that. The cybersecurity expert and author of "Mastering Bitcoin" has waged a war with Uphold, encouraging his 47,000 Twitter followers to help him find the earliest uses of the words “Internet of money.” Uphold’s adoption of the slogan, he tells Yahoo Finance, “perverts the meaning of the phrase.”
The law is on Uphold’s side; there’s not much Antonopoulos can do to stop Uphold from getting its registration. But of all people, Antonopoulos is a loud enemy for a fintech company to have.
To understand the complexity of this feud, we must step back and examine the two sides and their reputations in the financial tech industry.
Uphold is a “cloud money vault” that lets you convert funds between 25 different currencies or four precious metals. When it first launched, in 2014, customers had to make deposits in bitcoin, and the company had a different name: Bitreserve. It has since rebranded, and in a way, ditched association with bitcoin. Uphold customers can still deposit bitcoin or exchange other currencies to bitcoin, but they don’t need to start with bitcoin. You could deposit U.S. dollars, for example, and convert them to pesos to send money to a friend in Mexico, never dealing with bitcoin in any way.
Uphold now boasts more than $100 million in funds held in Uphold wallets, and says more than $900 million in transaction volume has been exchanged on the site. It is also part of apilot program with the Antwerp World Diamond Centrethat encourages a large portion of the world’s diamond traders to use Uphold for conversion of funds.
Uphold CEO Anthony Watson, whose resume includes executive roles at Citi (C), Wells Fargo (WFC), Barclays (BCS) and Nike (NKE), has publicly expressed doubts about bitcoin, which has not ingratiated him to the vocal community of enthusiasts with high hopes for the currency. “I’ll be surprised if bitcoin is here in five years,” he toldFortunelast year. “It’s a means to an end. The value of bitcoin isn’t the currency, but the technology. I think once the world becomes more accustomed and attuned to the platform of bitcoin, the noise will go away, and the currency will go away too.” Onforums like Reddit, bitcoin believers have disparaged Watson and Uphold.
Here's why the dispute between Uphold and Antonopoulos should matter to the larger financial market: Uphold is one of many fintech companies, along with Dwolla, TransferWise, Venmo, and Xoom, to name a few, that make a similar value claim: shorter transfer times and smaller transfer fees. That has been a popular selling point of bitcoin, too—but bitcoin risks collapsing due toproblems with its own infrastructure. Meanwhile, 45 major global banks havesigned on to a consortiumto test out a form of blockchain, the technology on which bitcoin runs—but a closed version of blockchain, without bitcoin.
Antonopoulos is highly respected in bitcoin circles, but not a known name in the broader, big-business world. In March, he tweeted at Watson, “You are aware that others (e.g. myself) used the phrase ‘The Internet of Money’ in business long before you did?” He asked his followers to find the earliest uses of the phrase related to digital currency, and received many responses. He says people have used it to refer to bitcoin since 2010.
There’s just one problem with that: It likely does not matter. “The idea that it is relevant to find the first usage of the term is misguided,” says trademark attorney Martin Schwimmer, a partner at the firm Leason Ellis. “Prior art,” he says, is a concept more often applied to patents. Earlier uses of the phrase (not as a trademark) have no bearing on Uphold’s ability to register it as a trademark. Antonopoulos understand this. “Legally, it is irrelevant,” he cedes. “Morally, taking a generic phrase you didn't invent from an open community and claiming exclusivity is a slimy move.”
To be clear, Antonopoulos isn’t looking to assert exclusive rights to the phrase. But he rejects Uphold’s right to do so. (One might wonder if he is partially motivated by animosity toward a company that abandoned bitcoin; Antonopoulos says that isn't the case, and says he has an Uphold account.) “I've used the phrase for years to refer to bitcoin, long before Uphold existed,” he says, “And my use of it excluded no one.” In keeping with the spirit of bitcoin, which operates on a public, decentralized, anonymized ledger (the bitcoin blockchain), Antonopoulos believes the slogan belongs to the public. He even launched an "Internet of Money Tour" to travel around and spread the word.
So, let’s say the public agrees with him, and doesn’t believe Uphold should get to use “The Internet of the Money” as its slogan. Can it stop the company from doing so? Likely no, says trademark attorney Ed Timberlake, in part because in this case “the public,” as defined by Antonopoulos (i.e., the relatively small pool of the bitcoin community) is likely only a fraction of the group that the USPTO would define as relevant consumers. (The much larger public is still largely uninformed, and arguably uninterested, in bitcoin.) “The Trademark Office doesn’t give a huge amount of weight to a factional community, they typically have a broader view of what the relevant public is,” says Timberlake, who spent two years working at the U.S. Trademark Office.
The key question the Trademark Office will answer is whether the phrase has been so widely used that it has become diluted. Or as Timberlake puts it: When the public thinks of the phrase in the context of the financial technology sector, do people associate the phrase with Uphold?
Antonopoulos would say no, and many in the bitcoin community might say no, and perhaps the answer is no. But Uphold will probably get the registration anyway. Timberlake says the Trademark Office doesn’t so rigidly interpret the question. It's not that the office approves everything, but it leans toward approving applications for registration when the company has demonstrated some use of the trademark. The office doesn’t want to make it impossible to get approval. “No one wants the headache of mounting a federal lawsuit every time they want to assert trademark rights,” Timberlake says. “It’s not a rubber stamp, but it’s somewhere between a rubber stamp and a full lawsuit in federal court, in that there are certain things the office is in the habit of recognizing as a pretty good indication [of trademark]. But they don’t go out and talk to people to test it.”
Uphold’s use of the phrase on its web site is already a “pretty good indication” that it merits the registration, Timberlake says. “If I’m the examiner and I look at Uphold’s web site, it looks to me like they’re getting good legal advice. The phrase is there, front and center, it shows up when you Google them. They look far along enough to get the registration.”
Nonetheless, Antonopoulos says he is, “consulting with legal experts to return the phrase to open use by invalidating the trademark.” Watson, for his part, tells Yahoo Finance he has no intention of suing anyone, and has been taken aback by Antonopoulos’s aggression. An article atCoinTelegraphlast month said that Watson had “revealed his intentions to sue” Antonopoulos; that is incorrect.
Back in November, Watsonshared and praisedablog post on Medium, written by “Captain Cloud Money,” an anonymous Uphold user, that argued, “Bitcoin fails as Internet money despite being an IP-based asset, because there is no central authority backing its value.” The post appeared to suggest an awareness that the phrase had previously been used to apply to bitcoin.
Even though the odds and the law favor Uphold, getting the registration is no foregone conclusion. Uphold already appends a “TM” to the phrase on its site, but anyone can do that. Once you get a registration, you get to use the “R,” which is the real indicator of protection. “For snooty lawyer types,” Timberlake explains, the TM symbol, “can seem like small potatoes. It doesn’t have any teeth.”
Uphold seeks teeth. But Andreas Antonopoulos is making it hard to chew. For the time being, Uphold can continue to use the phrase all it wants. And so can others.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.
Read more:
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Here's a sign that PayPal is embracing Bitcoin || What to Watch in the Day Ahead - Thursday, April 21: (The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) Alphabet Inc is expected to report a rise in first-quarter revenue that is likely to beat analysts average estimate, according to Thomson Reuters StarMine data. Investors will be looking for continued growth at Alphabet's Google unit, which has been driven by strong mobile advertising sales. Investors will also be keen to gather more information on the company's Other Bets business, which includes glucose-monitoring contact lenses and Internet balloons. Capital expenditures in the business are expected to increase this year, although no concrete details have been offered. Microsoft Corp is expected to post an increase in third-quarter revenue, which will also beat analysts consensus estimates, according to Thomson Reuters StarMine data. The company is expected to benefit from growing demand for its cloud products and services. Though Chief Executive Satya Nadella has focused on cloud services and mobile applications, to offset slower growth in its traditional software business, the company is still heavily reliant on PCs. Research firm IDC expects Microsoft's Windows business, which has 270 million active users eight months after launching, will improve later this year as companies that had delayed replacing machines before upgrading to Windows 10 make the switch. Analysts and investors will be looking whether the company has been able to sustain growth in its cloud business, and any impact from a stronger dollar. Visa Inc is expected to report a decline in first-quarter profit as a volatile global economy and the strong dollar cut into revenue from customers outside the United States. Consumers in some slowing economies around the world have been reining in spending. Some analysts say, however, that payment volumes are still likely to grow at Visa due to strong consumer spending in the United States. Story continues Schlumberger Ltd is expected to report a fall in first-quarter profit, hurt by weak drilling activity. The world's largest oilfield services provider, which recently closed its acquisition of Cameron International Corp, warned last month that its revenue would fall by about 15 percent from the fourth quarter. Verizon Communications Inc is expected to report first-quarter profit and revenue in line with analysts average expectations. The No.1 U.S. wireless phone service provider has benefited from heavy promotions as it counters rivals such as AT&T in a crowded U.S. wireless market. The focus will be on commentary around a possible bid for faded Internet pioneer Yahoo's core assets as well as any updates to financial guidance for the remainder of 2016. New applications for U.S. unemployment benefits likely rose last week, but remained well below a level associated with a buoyant labor market. Last week's claims covered the survey period for April nonfarm payrolls and will be dissected to see if there was any impact from the Verizon strike. While striking workers do not qualify for unemployment benefits, some have filed applications in the past. According to a Reuters survey of economists, initial claims for jobless benefits probably rose 10,000 to a seasonally adjusted 263,000 for the week ending April 16. That would leave claims slightly above the March payrolls survey week. (0830/1230) Separately, the Philadelphia Federal Reserve business survey is expected to show manufacturing in the mid-Atlantic region expanded in April for a second month. (0830/1230) Starbucks Corp will release its results for the second-quarter. Starbucks has the high-class problem of having to meet investors' outsized expectation that it will continue reporting industry-leading sales growth. Any stumble, real or perceived, will likely be punished. General Motors Co will announce first-quarter results. The company said on Friday it was recalling nearly 1.04 million newer pickup trucks for a seat belt flaw. The company said the recall in the United States includes 895,232 vehicles and a stop-sale of about 3,000 new 2014 and 2015 model year pickups still on dealer lots. The recall includes about 142,000 vehicles outside the United States. Union Pacific Corp and Norfolk Southern Corp, the No.1 and No.4 U.S. railroad operators, will post first-quarter results. With coal freight volumes still in freefall across the industry thanks to low natural gas prices and the strong dollar, analysts will be watching to see how the railroads are managing costs through furloughs, back office layoffs and mothballing locomotives. Biogen Inc is expected to report a largely in-line first-quarter as prescriptions written for its multiple sclerosis drug remain unchanged in the United States. Management previously noted that the uptick in scripts may not be seen until the second quarter. Investors will also look for more details on the Massachusetts-based drugmaker's hemophilia assets, which the company is said to be looking to sell. Travelers Companies Inc, the first big U.S. insurer to report quarterly results, is expected to report a decline in first-quarter profit due to weak underwriting gains and lower returns from its energy investments. Travelers, which competes with AIG for the title of biggest U.S. commercial property and casualty insurer, has felt a sting in recent quarters from a steep fall in oil prices as they drag on energy investments made through private equity funds. BB&T Corp, Fifth Third Bancorp and KeyCorp are likely to report a decline in first-quarter profit as they put aside more money for sour energy loans. Many lenders have ramped up reserves in recent months, concerned by the increasing number of energy companies that have gone bankrupt and defaulted on loans as oil prices stay stubbornly low. U.S. homebuilders including D.R. Horton Inc and PulteGroup Inc report their quarterly results. D.R. Horton and PulteGroup are expected to report a higher profit for the second and first quarter, respectively, helped by higher home sales. Johnson Controls Inc reports second-quarter earnings amid a pending merger with Ireland-based Tyco International Plc. The merger would save Johnson Controls $150 million a year in taxes. Sportswear maker Under Armour Inc is expected to report first-quarter profit below analysts' estimates, according to Thomson Reuters StarMine data. Under Armour's gross margin in the quarter is expected to have been hit by higher promotions to clear excess inventory and slowing apparel sales growth, the company's largest source of revenue. A fall in the average price of its running footwear and a shift in sales mix towards lower-margin footwear are also expected to hurt margins. Investors will look for an update to the forecast, inventories, and comments on the Sports Authority bankruptcy. Advanced Micro Devices Inc is expected to post first-quarter revenue below analysts average estimate, according to Thomson Reuters StarMine data. Investors will be looking for an update on its Polaris graphic processing units, which it plans to ship in the middle of this year. Mexican cement company Cemex SAB de CV reports first-quarter results. Investors will be looking at the impact of the peso depreciation on the company's debt load as well as any recovery in its U.S. business. European Central Bank (ECB) holds interest rate decision. Economists say lackluster demand, not inadequate credit, is holding the euro zone economy back. They say the ECB is unlikely to cut its deposit rate further from the current -0.40 percent. That too underscores the diminishing returns from monetary policy, especially since the ECB is well over a year into its trillion-plus euro stimulus program, has cut rates several times and pledged longterm loans to banks, with little pick-up in inflation so far. The U.S. government and Volkswagen AG face a court deadline to come up with a plan to address excess emissions from 580,000 diesel vehicles sold in the country. Despite robust talks, EPA officials have expressed skepticism if the sides would agree to a deal by the deadline set forth by U.S. District Judge Charles Breyer. A judge will read out the verdict in the bribery trial of Canadian Senator Mike Duffy, whose high-profile case helped reduce the popularity of former prime minister Stephen Harper and contributed to his defeat in an October 2015 election. The Liberals of Prime Minister Justin Trudeau used the case as an example of how they said the Conservatives had been corrupted during their near-decade run in office. Duffy was tried on 31 criminal charges related to activities after Harper appointed him to the Senate, the upper chamber of Parliament. LIVECHAT - BITCOIN'S FUTURE with Anatoliy Knyazev, Executive Director and Co-Founder of Exante brokerage company We talk about the outlook for Bitcoin and its potential role in combating money laundering and financial crime with Anatoliy Knyazev, executive director and co-founder of Exante, a next generation brokerage company that aims to give its clients access to a broad range of financial instruments and markets. (0503/0903) To join the discussion, click here http://bit.ly/1kTxdKD (Compiled by Sourav Bose in Bengaluru; Editing by Savio D'Souza) || After hospital ransomware attack, time for some blunt talk about cybersecurity: Your standard medical drama is supposed to end with a “how it happened” scene, in which doctors explain what really went wrong with the patient and how they solved it. But it doesn’t look like therecent ransomware episodeatMedStar Healthwill get that traditional resolution.
We know fromwell-sourced reportsthat the mid-Atlantic hospital chain got hit with a strain of ransomware that locked up some of its files. (In such attacks, miscreants encrypt a victim’s files and demand payment — often in the form of Bitcoin — for the decryption key.) We know that containing the problemknocked many of the hospital’s computer systems offlineandforced doctors and nurses to communicate via paper and fax.
But we don’t know how the attack happened or what MedStar did to fix it. And the Columbia, Md., company doesn’t plan to tell us.
“Based on the advice of IT, cybersecurity and law enforcement experts, MedStar will not be elaborating further on additional aspects of this malware event,” reads astatement posted on its site last week.“This is not only for the protection and security of MedStar Health, its patients and associates, but is also for the benefit of other healthcare organizations and companies.”
MedStar’s case is not unique, and neither is its subsequent silence.
In February, Hollywood Presbyterian Medical Center in Los Angelessuffered its own ransomware attack. The hospitalacknowledged that it was ransomwareand even specified the sum demanded (40 bitcoin, or about $17,000). But itprovided no hint as to how it got hackedor what it has done to thwart future attacks.
Cybersecurity experts know this secure-it-and-shut-up routine well.
“The industry status quo is not to reveal the cause of breaches,” emailedKatie Moussouris, a Washington-based security consultant. “Disclosure often only happens when action must be taken externally to apply the defense” — that is, somebody outside the organization has to change a password, patch a server, or take a system offline.
“I can’t think of any company that’s been transparent about it,” said Ars Technica’s veteran security reporterSean Gallagherin a Twitter direct message.
It’s not that corporate leaders don’t realize the importance of working with their peers: They do, but still would rather not reveal the ugly details of attacks. A recent survey of 700-plus C-suite executives by IBM Security found that while 55 percent favored more industry collaboration,68 percent were reluctant to share incident informationoutside their own firms.
Meanwhile, attackers have fewer hang-ups about talking about their tactics. “The bad guys are always better at sharing than the good guys,” emailedJeremy Epstein, a security scientist with SRI International.
Other industries aren’t as opaque in documenting their mishaps. For a particularly dramatic contrast, you could look to commercial aviation.
Any serious accident spurs an investigation by the National Transportation Safety Board, and even something as relatively minor asa flight attendant breaking a passenger’s foot with a beverage cartwarrants an NTSB writeup. The idea is to publicly identify what went wrong so nobody ever does it again — and it’s made flying an incredibly safe way to travel.
Epstein noted that this culture of safety owes something to government influence: “Airlines have more regulatory requirements to disclose.” In other business sectors, that influence is less pronounced.
But, he added, airlines themselves can still clam up about cybersecurity issues that don’t directly affect flight safety. He cited a run of flight cancellations last year that wereapparently the result of fake flight plans that pilots immediately flagged, but which airlines later vaguely labeled as “unanticipated technical problems.”
Companies and organizations are supposed to be able to share confidential information, including details of unpatched vulnerabilities, in private forums such as industry-specificInformation Sharing and Analysis Centers. For instance, airlines can team up at theAviation ISAC, while medical facilities can collaborate privately atHealthcare Ready.
So is MedStar at least documenting what went wrong in that health care forum? The hospital won’t even say that. Said spokeswoman Ann Nickels in a text message: “I have nothing further to add.”
The immediate benefit of disclosure — after you’ve patched your shop and helped peers with equally sensitive systems secure their own — is education for everybody else who might not be in the same line of work but who might be running software with the same vulnerability.
“The best way to educate the public on how to not make the same mistakes is to publicly disclose the cause of a breach,” Moussouris said. But organizations don’t have much motivation to take that first step.
And until more of them do, hopelessly vague cybersecurity storylines imply that hacks just happen — they don’t — and that we must blindly trust large corporations to fix these apparently inevitable problems. That leaves us not just unaware of security flaws that might be lurking on our own computers, but generally powerless in the entire cybersecurity debate.
Moussouris, who has helped organize such collaborative vulnerability-research initiatives asthe Defense Department’s “Hack the Pentagon” project, suggested it would take either regulation — “which can be more damaging than helpful in some cases” — or pressure from customers.
But if I or somebody in my family needs urgent care, and the closest hospital is a MedStar facility, am I going to complain about their infosec? Absolutely not. So this problem isn’t going away anytime soon.
EmailRobatrob@robpegoraro.com; follow him on Twitter at@robpegoraro.
[Random Sample of Social Media Buzz (last 60 days)]
One Bitcoin now worth $430.124. Market Cap $6.561 Billion. Based on #coindesk BPI #bitcoin || Liquid Bitcoin || #bitcoin #BTC What is OpenBazaar? http://cur.lv/vxqge || #TrinityCoin #TTY $ 0.000008 (0.18 %) 0.00000002 BTC (-0.00 %) || 1 #bitcoin 1253.13 TL, 412.67 $, 368.060 €, GBP, 27804.00 RUR, 48000 ¥, CNH, CAD #btc || Are Bitcoin Businesses Targets for Online Extortion? http://bit.ly/1QaU2pL #BTC #bitcoin || Grow Your Income 150% Interest Daily for 30 days. bitcoin trader . http://ow.ly/YP3ta || In the last hour, 7 people won 0.32 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || Liquid Bitcoin || In the last hour, 5 people won 0.16 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot
|
Trend: up || Prices: 444.69, 449.01, 455.10, 448.32, 451.88, 444.67, 450.30, 446.72, 447.98, 459.60
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-09-06]
BTC Price: 10353.30, BTC RSI: 50.35
Gold Price: 1506.20, Gold RSI: 52.02
Oil Price: 56.52, Oil RSI: 53.56
[Random Sample of News (last 60 days)]
Why a proof of stake blockchain alliance is lobbying Congress: U.S. lawmakers struggle to understand the blockchain industry. But someblockchainsare more misunderstood than others, according to the latest crypto-focused lobbying group taking the fight to D.C.
A group ofcryptocurrencyindustry insiders and attorneys recently launched the Proof of Stake Alliance (POSA)—an organization dedicated to educating regulators on the key differences betweenproof-of-stake(PoS) blockchains, such as the much-ballyhooedCosmos, and the energy-guzzling proof-of-work systems, likeBitcoin.
With any luck, they hope to convince both Congress and regulatory agencies, such as the SEC and FinCEN, that not all blockchains should be treated the same. And with Ethereum’s planned transition from a proof-of-work to a proof-of-stake system scheduled for 2020, the way in which these specific networks are regulated could have vast implications for the industry.
“Stakable assets have unique legal, regulatory and tax issues, which—given the number of protocols utilizing this consensus mechanism—must be addressed sooner rather than later,” said Ryón Nixon, a founding board member of POSA, in an interview withDecrypt.
Nixon, a founding partner of blockchain law firm Horizons Law, is joined on POSA’s board by fellow attorney Evan Weiss, Polychain Capital COO Matt Perona, and Santiago Roel Santos, the president and co-founder of EON, a staking-as-a-service blockchain company. The group is also supported by a strong contingency of a dozen inaugural members, including theBinance-backed Harmony,Blockfolio, the Interchain Foundation (a Cosmos-focused organization), and TQtezos (a Tezos incubator).
The goal, Nixon said, is for POSA to achieve the oft-discussed but seldom defined “regulatory clarity” that the cryptocurrency industry so desperately seeks—all while promoting the growth and adoption of PoS networks.
Unlike Bitcoin and Ethereum currently, PoS blockchains don’t require large amounts of computational power to mine or validate block transactions. Instead, “mining” power is based on the amount of the underlying digital token that each miner (referred to as “validators” on PoS systems) owns—their “stake” in the network. These validators essentially bet on which block will be added next to the chain and receive rewards in proportion to their stake when they are right.
And while regulators arebeginningto get a handle on how to treat cryptocurrencies like Bitcoin, the same can’t be said for their proof-of-stake counterparts, including Ethereum-based tokens down the road, according to Nixon. “Currently, there exists no framework for the proper legal or tax treatment of stakable assets,” he said.
The tax issue is a big deal—in fact, it’s the most pressing issue that PoS blockchain businesses currently face, said Angela Angelovska-Wilson, an attorney and co-founder of DLx Law, and an advisor to POSA. “Tax treatment for rewards and tax implications on staking-as-a-service providers” are particularly important to sort out, she said.
Nixon offered the following example: When users on PoS networks delegate tokens to a validator, who then stakes the assets, the validator takes a small cut of the rewards from the PoS network before giving the remainder back to the user. “In this scenario, how many taxable events would this be?” he posits. Is it taxed as income or capital gains? “The stakes, no pun intended, of addressing these issues are obvious,” said Nixon.
POSA is particularly concerned with ensuring that Congress gives “clear and reasonable guidelines for the treatment” of these assets. But other regulatory issues, such as lingering questions surrounding the applicability of federal securities laws, are similarly urgent, according to the Alliance.
It’s unclear, for example, if such agreements between blockchain network asset holders and validators—referred to as “delegations”—could be considered “investment contracts” and therefore fall under the purview of the SEC, Nixon said.
“From our conversations with the SEC, we understand they are looking into the issue of whether a delegation constitutes an investment contract,” he said. “POSA will be engaging [international law firm] Paul Hastings to draft a staking whitepaper to be used to engage with the SEC,” said Nixon. POSA plans to make the whitepaper, as well as any other similar documents, available to each of its members.
Additionally, POSA is working closely with Angelovska-Wilson’s DLx Law to draft a no-action letter addressed to the Financial Crimes Enforcement Network (FinCEN) that could potentially have wide-reaching ramifications. “This no-action letter will request a ruling stating that staking as a service providers and validators are not considered money-service businesses (MSBs) under the [Bank Secrecy Act],” said Nixon. “We believe there is a high likelihood of response given our conversations with key officials at FinCEN, andFinCEN's May 2019 guidance—which stated mining-pool operators are not MSBs.
Without getting clear answers from each of the relevant agencies, as well as Congress, businesses on the cutting-edge of this technology—including those building on PoS networks such as Cosmos, Tezos,Polkadot, and soon,Ethereum—will continue to flee overseas, according to POSA.
And while the rapidly evolving crypto industry could, as a whole, do with some much-needed clarity from Washington, POSA’s singular focus is based on where it believes the industry is going, and not where it’s been.
Said Nixon: “The crypto-community already has a myriad of issues under the current securities and tax regimes. PoS networks and their participants potentially face even more issues.” || AUD/USD and NZD/USD Fundamental Weekly Forecast – Dovish RBA Minutes Already Priced In; Focus on Fed Powell’s Speech on Friday: The Australian and New Zealand Dollars finished lower last week, with the Kiwi absorbing most of the losses. The lack of progress in U.S.-China trade talks continued to keep a lid on prices as well as fear of a global recession. Excessive volatility in the global bond market also fueled a choppy, two-sided trade. With investors in both the Aussie and the Kiwi expecting more rate cuts by their respective central banks, it’s going to be hard to mount a meaningful rally although the recent price action suggests the currencies may be ripe for a counter-trend rally.
Last week, theAUD/USDsettled at .6783, down 0.0005 or -0.07% and theNZD/USDclosed at .6425, down 0.0041 or -0.63%.
There wasn’t much movement in the NZD/USD last week with the Forex pair posting an inside move, following the previous week’s extremely wide range. The shock of the unexpected 50-basis point rate cut by the Reserve Bank of New Zealand (RBNZ) continues to influence the price action with buyers reluctant to go against the down trend.
The AUD/USD performed relatively well last week, helped by an unexpected jump in the Employment Change report. The overall labor situation looked rosier than expected with the Wage Price Index coming in at 0.6%, better than the 0.5% forecast. The Employment Change report showed the economy added 41.1K jobs in July versus a 14.2K estimate. The Unemployment Rate held steady at 5.2%.
Gains were limited last week by a dovish speech from the Reserve Bank of Australia’s (RBA) No. 2 official, Deputy Guy Debelle. He said global firms’ are unlikely to maintain their strong hiring while they stall investment amid the U.S.-China confrontation, pushing the world into an avoidable slump.
Debelle further warned that while Australia is currently benefiting from Beijing’s domestic stimulus, it too will eventually suffer from the trade war fallout.
“In the end, the decision to build or not build that new factory needs to be taken,” Debelle said in the text of a speech in Sydney on August 15. “The longer businesses hold off, the weaker demand will be, which will further confirm the decision to wait. That runs the risk of a self-fulfilling downturn.”
New Zealand Dollar traders will have the chance to reaction to a Retail Sales report on Friday. It is expected to come in at 0.1%, below the previous quarter’s 0.7% increase.
The Reserve Bank of Australia Monetary Policy Meeting Minutes will be featured on Tuesday. Traders will be looking for clues that could help them determine the frequency of future rate cuts by policymakers.
Going into the August RBA meeting, there was a 44% chance of a 25-basis point rate cut in September. After the August RBA meeting on August 6, there was a 47% chance of a 25-basis point rate cut. At the end of last week, there was a 77% chance of no change in rates at the September RBA meeting.
We expect the RBA minutes to come in dovish, but any selling pressure is likely to be short-lived because of the drop in the chances of a September rate cut. Many are saying that President Trump’s announcement of a delay in new tariffs on China has caused traders to ease up on expectations of aggressive rate cuts by the central bank.
On Friday, all eyes will be on a speech by Fed Chair Jerome Powell at the Jackson Hole Symposium. Powell has to talk about the wild swings in the stock market and the Treasury yield curve inversion. He is also going to have to say the Fed is prepared to act aggressively if needed to prevent a global recession from spreading to the United States. He has to deliver a “tough-talk” speech or he could trigger a volatile response in the global equity and global bond markets.
Thisarticlewas originally posted on FX Empire
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• E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Overcoming 26012 Puts Dow on Strong Side of Major Retracement Zone || Smaller cryptocurrencies feel pain as criticism of Facebook's Libra grows: By Tom Wilson LONDON, July 17 (Reuters) - Bitcoin hasn't been the only casualty of the backlash by the world's major economic powers against Facebook's plans for a cryptocurrency, with smaller digital coins also feeling the burn. Bitcoin has slumped around 30% from 18-month highs of nearly $14,000 touched after Facebook's move, following a growing chorus of concern among regulators and politicians from the United States to Europe at the social media giant's plans. And the so-called altcoins have fared even worse. The second-biggest coin Ethereum has slumped by nearly half. The third largest, Ripple's XRP, is down by around 40%, while Litecoin and Bitcoin Cash have slumped by 40% and 42% respectively. On Wednesday, G7 finance chiefs cast a cloud over prospects for Facebook's Libra digital coin, insisting tough regulatory problems would have to be worked out first. The Bank of Japan governor said a G7 task force looking at cryptocurrencies like Libra would likely grow to include a broader range of regulators beyond the bloc. Facebook faced in the U.S. more questioning by lawmakers after a bruising first bout on Tuesday, when senators from both parties condemned the project. Where bitcoin goes, altcoins tend to follow. Price moves for smaller coins have been closely correlated with their bigger cousin through crypto's first decade, even as altcoins seek to gain prominence among investors and real-world usage. After Facebook unveiled its Libra cryptocurrency, bitcoin soared as much as 55% in just nine days as investors bet the social media giant's gambit would herald mass adoption of cryptocurrencies. The top four altcoins also soared, climbing between 10% and 33%. "When things are going up bitcoin tends to outperform and when crypto goes down the altcoins tend to take larger losses," said Mati Greenspan, an analyst at eToro. (Reporting by Tom Wilson; Editing by Andrew Cawthorne) || Bitcoin drops $600 back towards $10,000: Bitcoinlost more than $600 in little over 12 hours. The new bearish momentum has seen Bitcoin fall back to $10,219, down more than 4.3 percent in the last 24 hours.
During the recent price move, Bitcoin saw close to $400 wiped off in just an hour, sending its value back towards four figures. But despite these losses, Bitcoin has maintained its market dominance at 68.9 percent—a number that has been gradually increasing since the start of the year.
Elsewhere in the market, altcoins are also experiencing losses, with every cryptocurrency in the top 10 by market capitalization in the red.Monerois currently leading the downturn, having fallen 6.48 percent in the last 24 hours, while EOS has lost 2 percent.
Ethereum is down to just $188.03, continuing its downtrend and losing 4.7 percent since yesterday. XRP has similarly fallen back to $0.26 after losing 3.82 percent of its value—leaving it close to its lowest value this year.
Panic appears to have gripped cryptocurrency investors once again, with theFear and Greed Index–a measurement of investor sentiment–now sitting at just 11: where 0 is most scared, 100 the least. The last time sentiment was this low was on August 14, 2019, where Bitcoin fell a further 5 percent to $9,676 before recovering. Will the same happen this time? || Blockchain Wallet integrates BitPay for easy Bitcoin payments: Blockchain, a Bitcoin wallet and block explorer provider with 41 million users, announced today that it is has integrated with BitPay. And that means Blockchain users can now make seamless Bitcoin transactions with any vendor that uses BitPay, of which there are a lot . BitPay is a crypto payments processor, working as a middleman between individuals and businesses. It is one of the largest in the industry, having processed $2.8 billion from both individuals and business customers, the majority of which in Bitcoin. BitPay transactions are similar to making a direct Bitcoin transaction to any business. The difference is that Bitcoin transactions using BitPay get handled by the payment processor so that it can settle the payment in the business's currency of choice. This encourages adoption by catering to businesses who can't accept payment in Bitcoin directly or who don't want to deal with the tax implications of accepting it—that varies country to country. However, BitPay transactions are not just straightforward Bitcoin transactions sent to BitPay. It creates Bitcoin payment invoices that include features, such as countdowns, to make the checkout process similar to traditional checkouts. As such, Bitcoin wallets are not natively compatible. But today, Blockchain now offers this feature. Bitcoin has been recently criticized because so few people are actually buying things with it. Perhaps this will help speed adoption along a bit. || Bitcoin Falls 10% In Selloff: Investing.com - Bitcoin was trading at $10,337.4 by 11:50 (15:50 GMT) on the Investing.com Index on Sunday, down 10.39% on the day. It was the largest one-day percentage loss since June 27.
The move downwards pushed Bitcoin's market cap down to $189.1B, or 65.48% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $10,337.1 to $11,448.7 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a drop in value, as it lost 6.55%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $22.7B or 32.46% of the total volume of all cryptocurrencies. It has traded in a range of $10,337.0527 to $13,134.3623 in the past 7 days.
At its current price, Bitcoin is still down 47.98% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $230.31 on the Investing.com Index, down 17.49% on the day.
XRP was trading at $0.30025 on the Investing.com Index, a loss of 11.75%.
Ethereum's market cap was last at $25.5B or 8.83% of the total cryptocurrency market cap, while XRP's market cap totaled $13.3B or 4.62% of the total cryptocurrency market value.
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EOS Falls 11% In Rout || There Are Many More Gains Ahead for Gold: Gold is following our “script”… Gold Stocks Source: Shutterstock A year ago, we told you gold prices were headed higher. This didn’t jibe with the mainstream view on gold. InvestorPlace - Stock Market News, Stock Advice & Trading Tips At the time, the metal was trading at $1,211 an ounce. And it was down 36% from its all-time high, set in September 2011. Mom-and-pop gold investors were more bearish on the metal than ever. And The Vanguard Group, the largest provider of mutual funds in the world, had just shuttered its flagship precious metals and mining fund. 7 Stocks to Buy Down 10% in the Past Week In short, mainstream investors had soured on gold… As David Neuhauser, the founder of Chicago-based hedge fund Livermore Partners, told the Financial Times after the Vanguard news… Investors have essentially run away from investing in [gold]. In Canada, which has typically been a gold haven, all the talk is about cannabis and bitcoin. It’s extremely contrarian today to invest in gold. But “extremely contrarian” is our favorite type of play here at the Cut . And as we noted at the time, while mainstream investors were running scared, industry insiders were piling in. And when the “dumb” money (mom and pop) is turning its back on an investment… and the “smart” money (industry insiders) is backing up the truck… that’s when you want to buy. Gold is up 27% since our call on August 27, 2018. The S&P 500 is flat over the same period. In short, despite almost no coverage in the mainstream media, unloved gold has been a much better place for your money than overhyped stocks. But don’t worry if you missed out on the gains so far. Gold expert E.B. Tucker says there are plenty more gains ahead… As he’s been telling Casey Research readers, he believes gold is setting up for a monster rally… one that could take gold back above its all-time peak of $1,900 an ounce. Story continues We’ll get to E.B.’s investment case for gold in a moment. But first, if you don’t already know him, a quick introduction… E.B. heads up our Strategic Investor and Strategic Trader advisories. He’s also a gold industry insider. He’s on the board of a gold mine financing company. And before joining the team here at Legacy, he comanaged a fund that invested in gold mining stocks. And he’s tracked the gold market closely for nearly two decades. That makes E.B. a connoisseur of the gold market cycle… And as he’s been telling his readers, we’re nowhere near the top of this bull market cycle… The most important thing to understand about gold is it’s a cyclical market. When gold was at $1,900 an ounce back at its peak in 2011 you had Mr. T doing gold commercials. You had “Cash for Gold” signs everywhere. Those were overenthusiastic conditions. At the bottom of the market, you have the opposite. You have guys who have been in the business for decades saying there’s no way any price jump is real. And despite the recent gains, that’s where we are now. The guys running the leading gold mining companies are demoralized. They’re beaten. They just can’t believe the gold rally is real. Fear is still the dominant emotion. So now is the time to make your investment in gold… and sit tight. Another bullish catalyst, says E.B., is that summertime is usually a slow time for the gold market… People take summer vacations. They’re out of the office. So professional investors and hedge funds don’t have time to have committee meetings to make decisions about buying gold. And these are the guys that really move the needle on prices. This is important because most of these funds have no gold. Because of all the negative news around gold… and the hype around Bitcoin… they’re more likely to have a crypto allocation than a gold allocation. So this gold rally has caught the pros off guard. They were unprepared for the spike that we saw over the past six weeks. That tells me we’re going to see price rises accelerate, as these institutional funds chase gold higher. As his colleague, I (Chris) know it pays to listen when E.B. talks gold. He has a track record of nailing calls like this. E.B.’s subscribers have already had the chance to make triple-digit gains on gold… In May of last year, E.B. added the world’s best-run gold mining firm, Agnico Eagle Mines (NYSE: AEM ), to the Strategic Investor model portfolio. Subscribers who acted on his recommendation are up 56%. And last August, E.B. recommended speculating on Aurion Resources (AU-V). Aurion is a Canadian-listed gold exploration company. Since E.B.’s recommendation, shares are up 161%. (Note: AEM and AU-V are both above E.B.’s recommended buy-up-to prices of $55 and C$1.10, respectively.) And another gold stock E.B. added to the model portfolio just a month ago, on July 29, is already up 30%. And E.B. wasn’t shy about his bullishness on gold… Last December, in an interview with gold industry news network Kitco, E.B. said gold would hit $1,500 before the end of 2019. With gold trading for just $1,236 at the time, it seemed like a long shot. But sure enough, three weeks ago, it crossed the $1,500 milestone. What can you do to make sure you don’t miss the gains still ahead for gold? E.B. says the first step is to make sure you own some physical gold… Physical gold has limited downside and big upside from here. Not only that, it has also survived every major financial crisis in history. This makes it the ultimate safe-haven asset. Owning physical gold is also one of the only ways to prevent the government from having total control over your financial life. Today, nearly every transaction is tracked by the government. Every time you withdraw money, deposit money, trade a stock, cash a check, or make a wire transfer, the government knows about it. Gold also lies outside the control of central banks like the Federal Reserve. That makes it an important way to preserve some of your financial freedom. So if you own no gold right now, investing in the physical stuff is your best option. E.B. recommends you start with 1-ounce gold bullion coins… There are two types of gold coins – rare coins (or “numismatics”) and bullion coins. If you’re just starting out, E.B. recommends avoiding numismatics. E.B… A numismatic is a coin that is no longer produced. It can be tens… even hundreds of years old. Many rare coins date from the mid-17th century. This is when coin makers stopped hand-striking coins and started striking them by machine. But here’s the real trouble with numismatic rated coins. You often pay significantly more for them than regular coins. You’re getting the same amount of gold. But numismatics cost more because of their collectible value. For a novice, that’s hard to judge. Fraud is much more common in the numismatic market. Rare or collectible coins can turn out to be fake. Or, if the gold is real, sometimes the rarity rating is not. That’s why E.B. recommends starting out with bullion coins… A bullion coin is a coin valued primarily for the gold it contains, not for its rarity. Bullion coins come in various weights. But the most popular coins contain one ounce of pure gold. And they allow you to store tremendous wealth in a small space. We know navigating the gold coin market can be confusing at first… That’s why E.B. asked coin dealer Gainesville Coins to create a page of discounted options for bullion coins as a jumping-off point. The page was originally only for paid-up readers of our Strategic Investor advisory. But because of gold’s recent moves, E.B. is making it available to all Legacy readers. (E.B. and Legacy don’t receive any compensation from Gainesville Coins for bringing you this offer. It’s purely as a service to readers.) But that’s just one way to play the monster gold rally E.B. sees coming… Once you have some physical gold, you should consider speculating on gold mining stocks. That’s because of the “leverage” – or extra oomph – they give you over the price of the gold coins and bars. We’ll be diving into that tomorrow. As you’ll see, if you’d bought gold stocks last summer, you would have nearly doubled the returns of physical gold. And that kind of extra oomph is still available… as the monster gold rally E.B. predicts plays out. Stay tuned. Regards, Chris Lowe August 28, 2019 Dublin, Ireland More From InvestorPlace 2 Toxic Pot Stocks You Should Avoid 7 Stocks to Buy Down 10% in the Past Week 15 Retail Survivors to Buy for the Long Run 7 Stocks That Wall Street Thinks Could Rise 50% Or More The post There Are Many More Gains Ahead for Gold appeared first on InvestorPlace . || Bitcoin Escrow Firm Bilked Investors for $7 Million, DOJ Says: U.S. prosecutors have charged the head of a bitcoin escrow company with defrauding investors for $7 million. The U.S. Attorneys Office of the Southern District of New York, part of the Department of Justice (DOJ), brought two counts each of commodity and wire fraud against Jon Barry Thompson, principal of Volatnis Escrow Platform LLC. In a complaint unsealed Thursday, he is accused of making misleading statements about investment risks and false representations of his custody and control of digital assets. U.S. Attorney Geoffrey S. Berman said in a statement : Related: Koreas Biggest Bank Is Preparing to Custody Digital Assets As his clients soon realized, however, Thompsons representations were false, and these cryptocurrency investors ultimately lost all of the money they had entrusted with him because of his lies. Thompson preyed on his clients lack of information regarding the emerging asset class, prosecutors said. In promotional materials and communication with clients, he allegedly presented himself as a competent investor, custodian, or financier. The two companies Thompson allegedly defrauded sent him multi-million-dollar wires hoping to receive bitcoin in exchange. Prosecutors alleged that Thompson told one client, cash is with me, coin is with me, though he had sent their $3 million to a third-party exchange, skimming thousands off the top for personal use, without first obtaining any bitcoin. The DOJ did not identify either alleged victim. According to a Forbes article published in January, Volantis negotiated a deal to transfer 6,600 bitcoin to Symphony, a crypto investments firm, but the transaction never closed . Related: The FBI Is Looking for QuadrigaCX Victims Thompson, who was arrested Thursday in Pennsylvania, faces a maximum sentence of 40 years. DOJ image via Shutterstock Related Stories Ledger and Nomuras Crypto Custody Launch May Be Delayed to 2020 Hold-It-Yourself Crypto Exchange LGO to Roll Out Hardware Wallet in Q2 || ICO Issuer PlexCorps Reaches Settlement With US Securities Regulator: A settlement between the SEC and a startup that raised funds in an initial coin offering has defendants paying out the big bucks.
According to court filings, defendants Dominic Lacroix, Sabrina Paradis-Royer andPlexCorpsagreed to pay fines and never again participate in securities sales. A judge has yet to sign off on the settlement.
Lacroix and Paradis-Royer each agreed to pay $1 million apiece as a civil penalty. PlexCorps must disgorge $4.56 million in addition to $350,000 in interest.
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“PlexCorps is pleased to achieve this settlement with the Securities and Exchange Commission, in which it is cooperating with the SEC to ensure that U.S. purchasers of Plexcoin will be eligible to receive a refund directly from the SEC,” said Morrison Cohen partner Jason P. Gottlieb, representing PlexCorps.
Per the settlement, Lacroix and Paradis-Royer each agreed to never participate in a securities sales again. The duo also agreed to never commit fraud.
After raising $15 million in an ICO, PlexCorps was first sued by the SEC inDecember 2017. The suit claimed Lacroix was using the raised funds for personal transactions. According to FinanceFeeds, the SEC asked for an extension of temporary restraining orders, asset freeze orders, and orders against the destruction of documents.
Lacroix is no foreigner to judicial oversight. That same month as the2017 SEC case, Lacroix was also ordered to two months of jail time and PlexCorps to pay $100,000 in fines by a Canadian judge for contempt of court.
Related:SEC Delays Decisions on 3 Bitcoin ETF Proposals
Final Judgment (Proposed to…byCoinDeskon Scribd
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• SEC Chief Who Pursued Actions Against ICOs, Kik to Resign || 5 Top Stock Trades for Thursday: WMT, BABA, LOW, XLNX, Bitcoin: Global stock markets are still trading violently but the U.S. equities are still battling close to the all-time highs. So the upside potential is still viable. Wednesday we saw strong earnings reports. This confirm that there are still stock trades to hunt in spite of the geopolitical risks and rhetoric.
Our five stock trade to watch for Thursday include:Walmart(NYSE:WMT),Lowe’s(NYSE:LOW),Alibaba(NYSE:BABA),Xilinx(NASDAQ:XLNX), and Bitcoin
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
WMT stock is near all time highs and for good reason. The company has taken the fight toAmazon(NASDAQ:AMZN) head on and it’s doing well against this formidable opponent.
Investors loved the earnings report last week and WMT stock rallied 8% on the headline. From here, there could be better entry points for the short term. WMT stock is vulnerable to fade and a retest of $110 per share. Maybe even fill the gap $2 lower. But for the long term, this company will continue to deliver and adapt to the market demands. If I am long WMT already, then I stay long. Otherwise I would buy the dips for the long term.
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Wednesday,Target(NYSE:TGT) stock soared as they reported a strong quarter. This confirms the strength of the U.S. consumer spending and operational success. Both companies are winners because of strong execution. WMT is employing technology trend to better compete with AMZN one to one and beat it.
LOW stock spiked today after a strong earnings report. The investor expectations were tepid going into the event so it made for an easy hurdle. This however is not the time to pile into LOW stock and chase this rally.
The reason the expectations were low is because it has a long history of trailing its competitionHome Depot(NASDAQ:HD). I believe this continues until we get several reports to prove otherwise. Case in point, HD stock is up 26% year-to-date which 60% better than LOW. This is also true for the last five year stats.
So if I took in profits from the LOW stock reaction to earnings, I would book it for now. From here, it carries the risk of a fade to fill the gap below especially if markets in general correct. This is not the same as shorting the stock.
So if I want to remain constructive on the segment, I would rotate my risk into HD stock instead. This one is sitting at another breakout line. Even though the LOW report shows domestic comparable sales beat those of HD, over the long term HD stock has performed better thanks to more consistent management execution.
BABA stock has an interesting setup brewing. It will be tough to trigger but the reward if they do so is great. If the BABA stock bulls can break above $180, they can target $192 per share or higher. It won’t be easy and there will be resistance at the neckline and at $185.
For a while, BABA stock has been lurking just under this breakout level and doing it from higher lows. But this is a steep rising wedge which leaves the stock vulnerable to pullbacks. If the general markets cooperate then BABA will make this happen; it’s a matter of time.
This would then fill an old gap and also places it at a was prior fail. The interesting part is that was also a neckline that if bulls can break could carry it to $200 per share or higher.
On pullbacks, BABA stock could fade to $170 which is just above its yearly point of control where bulls and bears loved to fight.
XLNX stock is no stranger to headlines. The whole chip sector has been in the line of fire in the economic war between the US and China. XLNX stock moves more on headlines extrinsic to its own execution than not.
But Tuesday XLNX fell on headlines of possible “unpatchable” security flaw in its equipment. So this is a rare dump from intrinsic problems. Nevertheless, this dip places XLNX sock at a place with it makes sense that it mounts a rally soon.
XLNX stock bulls defended the $100 mark hard on the May correction and yesterday’s scare didn’t even come near it. So as long as the support band below holds, it is likely that XLNX makes another run at $120 per share. There will be resistance at $109 and $113, but if the general markets rally then XLNX can slice through them and reach it major accident scene from the end of July.
Since the love-fest with bitcoin of 2017 the interest in the digital coin has not abated. While it’s not hogging the headline it is still a hot debate. Skepticism is high so Bitcoin has a questionable reputation on main street and Wall Street.
Both extremes are wrong when it comes to bitcoin. It has value because people say so. This is no different than gold. Bitcoin and gold are rare and people want them so they will continue to be valuable on that assumption. Critics say that it’s used for illicit activities and to that I say that so is cash. At least with bitcoin, they always leave an electronic trace. Furthermore, FIAT cash only has value because the people say so. So in essence cash and bitcoin are more similar than we think.
What’s the best place to buy bitcoin? This depends on time frame. If I am buying it like gold as a long term investment then timing really doesn’t matter much. But there are clues on the charts to offer some guidance. Bitcoin price here is falling into support. So in theory it should bounce back up to 10,200. But it moves so fast that by the time you read this note, the landscape would have probably change a lot.
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So, it’s best to get the general feel for the zones that matter and know what’s at stake. For thathereis a free video from this week that does a great job of that. It sheds light on what’s in store for Bitcoin price.
Nicolas Chahine is the managing director ofSellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for freehere.
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The post5 Top Stock Trades for Thursday: WMT, BABA, LOW, XLNX, Bitcoinappeared first onInvestorPlace.
[Random Sample of Social Media Buzz (last 60 days)]
https://t.co/wqX7mNIWUU #EMJ #IEO #Crypto #Blockchain #ethereum #bitcoin #ether #cryptocurrency #tokensale || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || Bitcoin $BTC market overview | 24h high: ~$10,840 | 24h low: ~$10,392 | 24h ago: ~$10,709 | Last: ~$10,635 | Change: ~$-75 (-0.7%) | https://t.co/Ohnctjhi3s | Follow us @ccinfonet | || Guide to Earn 30-1000$ Daly with $KCS Coin
https://t.co/toYN4G6VNU
$BTC $ETH $ONT $DCR $XMR $VET $XTZ $ENJ $RVN $BRD $KMD $TUSD $THETA $ARDR $REP $BTS $ETN $IOTX $POWR $BQX $EDO $PIVX $QKC $SYS $MITH $MAN $POE
$LINK $ADA $XRP $MATIC $TRX $BNB https://t.co/HCbRIwXbum || Discoin Airdrop is now Live🚀💰🏆
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https://t.co/GBYsiL8aL8 #Airdrops #blockchain #cryptocurrency #ICO #bitcoin #Crypto #ETH || I'm pretty sure you've come to the right corner of twitter. Do you accept Bitcoin? || South Korea’s Kakao May List Its Klay Token on Chinese Exchange $btc #bitcoin #btc https://t.co/NKw3w2DN9x...
https://t.co/tCn7jeJGlp || ⬇️ ... dann geht hoffentlich der Kurs wieder über 10K. Wäre gerade froh, sonst wird mein @Vontobel_FP_CH MiniFuture gekillt 🙄 || Check out my Gig on Fiverr: do creative outstanding professional logo design https://t.co/2FTkU6fJdJ || 5% of portfolio should include the digital asset class (mostly bitcoin)
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Trend: down || Prices: 10517.25, 10441.28, 10334.97, 10115.98, 10178.37, 10410.13, 10360.55, 10358.05, 10347.71, 10276.79
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-01-08]
BTC Price: 453.23, BTC RSI: 60.87
Gold Price: 1097.80, Gold RSI: 57.19
Oil Price: 33.16, Oil RSI: 32.54
[Random Sample of News (last 60 days)]
SEC Charges Bitcoin Mining Firm in Ponzi Scheme: The U.S. Securities and Exchange Commission (SEC) charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors. The complaint was filed in federal court in Connecticut.
“Mining” for Bitcoin or other virtual currencies can be described as applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency. The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.
The SEC alleges that Homero Joshua Garza perpetrated the fraud through his Connecticut-based companies GAW Miners and ZenMiner by purporting to offer shares of a digital Bitcoin mining operation.
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However, GAW Miners and ZenMiner actually did not own enough computing power for the mining it promised to conduct, so most investors paid for a share of computing power that never existed. Returns paid to some investors came from proceeds generated from sales to other investors.
Paul G. Levenson, director of the SEC’s Boston Regional Office, said:
As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another.
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According to the SEC’s complaint:
• From August 2014 to December 2014, Garza and his companies sold $20 million worth of purported shares in a digital mining contract they called a Hashlet.
• More than 10,000 investors purchased Hashlets, which were touted as always profitable and never obsolete.
• Although Hashlets were depicted in GAW Miners’ marketing materials as a physical product or piece of mining hardware, the promised contract purportedly entitled the investor to control a share of computing power that GAW Miners claimed to own and operate.
• Investors were misled to believe they would share in returns earned by the Bitcoin mining activities when in reality GAW Miners directed little or no computing power toward any mining activity.
• Because Garza and his companies sold far more computing power than they owned, they owed investors a daily return that was larger than any actual return they were making on their limited mining operations.
• Therefore, investors were simply paid back gradually over time under the mantra of “returns” out of funds that Garza and his companies collected from other investors.
• Most Hashlet investors never recovered the full amount of their investments, and few made a profit.
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• America's Best and Worst States to Live In || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app.
Tyson's Bitcoin Projects
This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage.
The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks.
Celebrity Appeal
Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses,saying that his"potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users.
Safety Still A Concern
Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections.
Image credit:Eduardo Merille, Flickr
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 7 Of The World's Most Famous Corporate Rivalries: Cats and dogs, the Red Sox and the Yankees, Batman and the Joker everyone loves a good rivalry, especially in America. Competition is a mainstay in the corporate world, and long-lasting competitive relationships have given rise to some of the fiercest rivalries on Wall Street. Most big name firms are battling some other business that is doing something similar, and part of that battle is openly criticizing their competitor before the public eye. Corporate rivalries are sometimes part of a marketing gimmick designed to keep a firm's name in the public eye, but others are the result of long-standing tension between CEOs or differing corporate cultures. From Coke versus Pepsi to Apple versus Microsoft, here's a look at some of Wall Street's most famous rivalries. Related Link: Report: Alibaba Is Not Interested In Yahoo's Core Internet Business Microsoft And Apple Perhaps the most famous tech rivalry belongs to Microsoft Corporation (NASDAQ: MSFT ) and Apple Inc. (NASDAQ: AAPL ). The two firms have been battling it out for the title of Better Brand Maker for more than three decades, accumulating thousands of loyal followers eager to stand up for their favorite products. Apple has long praised the benefits of design and simplicity, while Microsoft has painted Apple followers as hipsters who are overpaying to be part of a "cool" crowd. Whether you are loyal to the fruit or the PC, the rivalry has captured the attention of the public and created a buzz around both companies' latest products. Years of contention have been a driving force behind the marketing for the two companies, but this holiday season it seems they are in order to grab the attention of the masses. As part of Microsoft's holiday commercial, New York City-based Microsoft employees marched up Fifth Avenue alongside a choir singing "Let There Be Peace on Earth" to Apple's NYC location, where the employees from both firms openly embraced. It remains to be seen whether the truce between the two will last longer than this season's Christmas trees, but for now it appears that the two will ring in the New Year side by side. Story continues Coca-Cola And Pepsi The Coca-Cola Co (NYSE: KO ) and PepsiCo, Inc. (NYSE: PEP ) have been at odds since 1975, when Pepsi first unveiled the "Pepsi Challenge." Pepsi invited consumers to take part in blind taste tests in which they identified whether they preferred the taste of Pepsi or Coke. The battle has escalated over the years, with each firm taking a stab at the other in TV commercials, social media campaigns and through sponsorship deals. Coca-Cola's FIFA World Cup sponsorship has been under threat from Pepsi for years, with the rival firm taking over some of the hype Coke enjoys by launching its own marketing campaigns alongside the tournament. The rivalry even made its way to space; both firms sent special cans designed for zero gravity into orbit on the Space Shuttle Challenger in 1985. The two have also shared some tender moments as well. In 2009, the two firms agreed to follow one another on Twitter at the of creative agency Amnesia Razorfish. Related Link: "Share A Coke" Returns For The Holidays Ford And General Motors American automakers Ford Motor Company (NYSE: F ) and General Motors Company (NYSE: GM ) have been on opposing sides of the industry for more than 100 years. While the two put their long-standing feud on pause during the Financial Crisis when the auto industry was approaching rock bottom, they have since picked up where they left off trying to gain marketshare from each other. Ford famously took stabs at GM's government bailout in its advertisements once the automaker got back on its feet following bankruptcy. Ford CEO Mike Farley was also as saying "F GM. I hate them and their company and what they stand for." GM Chief Executive Dan Aversion also spoke out about Ford's Lincoln brand in 2011 saying, "They are trying like hell to resurrect Lincoln. Well, I might as well tell you, you might as well sprinkle holy water. It's over." More recently, GM released a series of depicting Ford's latest pickup trucks as being weaker than GM's offerings because they are made from aluminum rather than steel. Nike Inc. And Reebok Athletic apparel makers Nike Inc (NYSE: NKE ) and have been battling for the title of Best Shoe Maker for decades. Both company's original products were vastly different, with Nike selling imported running shoes and Reebok marketing white leather women's running shoes designed for joggers. However, the two eventually began to battle for marketshare with celebrity campaigns designed to make athletic apparel more appealing as a fashion statement. Nike signed basketball superstar Michael Jordan, to which Reebok responded by using Shaquille O'Neal as a spokesman. The two firms continued to fuel their rivalry by supporting competing athletes, with Nike even $25,000 to figure skater Tonya Harding's defense fund when she was accused of attacking her Reebok sponsored competitor, Nancy Kerrigan. McDonald's And Burger King Fast food chains McDonald's Corporation (NYSE: MCD ) and Restaurant Brands International Inc (NYSE: QSR )'s Burger King have become natural enemies, as both restaurants promise similar experiences to their customers. The two have been at each other's throats for years, with competing advertising campaigns and similar product offerings. In 2014, Burger King revived its "Burger Wars" campaign by introducing its own versions of McDonald's Big Mac and McRib sandwiches. Related Link: Sozzi Reviews Saucy McDonald's Under Eastbrook's Management More recently, Burger King called on McDonald's for a truce, asking the golden arches to collaborate on a McWhopper, which would include elements from both the Big Mac and the Whopper. Burger King opted to pitch this idea to McDonald's via an open letter, saying that the McWhopper would be a good way to call attention to Peace One Day, an organization working to recognize September 21 as an International Day Of Peace. However, McDonald's by saying that their rivalry is "certainly not the unequaled circumstances of the real pain and suffering of war" and slammed the King for what McDonald's believed was a publicity stunt. Budweiser And Miller The world's largest beer maker Anheuser Busch Inbev SA (ADR) (NYSE: BUD ) and its largest competitor, SABMiller plc (ADR) (OTC: SBMRY ), have been locked in a booze rivalry for years. Both firms have launched comprehensive marketing campaigns taking aim at the quality and taste of each other's products, with the bitter back-and-forth even prompting the two to battle it out in court. However, that rivalry could soon become a major beer superpower as SABMiller recently Anheuser Busch's $105 billion takeover offer. While the deal still faces a barrage of regulatory concerns, its completion would put an end to the longstanding feud between Miller and Bud, instead uniting the two to create the world's largest beer maker. Anheuser Busch has said that the deal will provide the firm with exposure around the world and will give consumers more choice. However, some say that the merger could be dangerous for the industry, as it creates a force with which will be difficult to compete. Netflix And Blockbuster Video rental chain Blockbuster appeared to have the market cornered just 10 years ago, but when video-rental-by-mail service Netflix, Inc (NASDAQ: NFLX ) appeared on the scene, the two squared off for battle. When Netflix's service began to threaten Blockbuster's customer base, the company launched Blockbuster Online, to little success. In 2005, Blockbuster tried to undercut Netflix's prices, to which Netflix CEO Reed Hastings responded by saying the company was throwing everything but the kitchen sink at the startup. Related Link: Netflix Rips To New All-Time High Of 1.35 In a show of defiance, Blockbuster's then CEO John Antioco Hastings an actual kitchen sink the following day. However, despite Antioco's best efforts, Netflix upended the traditional video-rental business and Blockbuster eventually filed for bankruptcy protection and was acquired by DISH Network Corp (NASDAQ: DISH ). Image Credit: See more from Benzinga 5 Things To Consider When Preparing For A Santa Claus Rally Bitcoin Seeks To Right Music-Industry Wrongs 6 Ways Blockchain Could Change The World © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How Diageo Plans To Turn Its Smirnoff Brand Around: Diageo Plc (ADR) (NYSE: DEO ) has already declared its New Year's resolution to turn its struggling Smirnoff vodka brand around. In the 2014-2015 financial year, Smirnoff sales by 3 percent as consumers turned their attention to "craft" vodka brands with smaller batches and local distilleries. Flavor Mistakes However, Smirnoff wasn't always struggling. The brand became hugely popular with several flavor varieties when consumers were interested in unique cocktails, but that era seems to have ended leaving the vodka brand behind with it. In an effort to revive the brand this year, the company added 42 new flavors designed to appeal to younger drinkers. However, the decision missed the mark and Smirnoff global brand director Matt Bruhn admitted that the flavor additions were a "mistake." New Strategy Diageo Chief Executive Ivan Menzes vowed to turn the brand around this year as vodka market makes up about 12 percent of the company's net sales. In order to do this, Smirnoff is to cut down on the number of flavors offered and embed its name into the electronic-dance-music community. Smirnoff is slated to sponsor 26 electronic-music festivals in the coming year and the brand has also developed a sound collective that will sponsor fresh new electronic-music artists. The company has also created a line of glow-in-the dark flavors that will be marketed as shots. Competing With Craft All of Smirnoff's efforts in the coming year are designed to appeal to the coveted millennial generation, a group that has recently reached the legal drinking age and makes up a huge percentage of the market. While Smirnoff's efforts are valiant, many believe that the company is fighting an uphill battle as bespoke companies that make unique offerings have become popular choices among young people. See more from Benzinga What's In Store For Bitcoin In 2016? FedEx Gets The Blame For Holiday Delays How Blockchain Can Reform The Real Estate Industry © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || YOUR MONEY-Giving to charity gears up after a crisis: By Beth Pinsker
NEW YORK, Nov 30 (Reuters) - During the first two weeks after an earthquake hit Nepal in April, Fidelity Charitable sent out 4,400 grants totaling almost $5.3 million from donors using special charitable accounts called donor-advised funds at the Boston-based nonprofit associated with Fidelity Investments. Now a few months later, the total is up to 6,000 grants totaling $7.8 million.
Within hours of something bad happening around the globe - whether its a hurricane or a humanitarian crisis like the flow of refugees from Syria - people start calling places like Fidelity Charitable, to ask where their donations would be most useful.
In the philanthropic circles, motivating folks to give can be a costly and fickle marketing exercise. Donor-advised funds, which operate like mini-foundations, help to bridge the gap.
"What we know about individuals, when it comes to disasters, is that they are highly influenced by media coverage and by the type of disaster," said Bob Ottenhoff, president and chief executive officer of the Center for Disaster Philanthropy, a nonprofit based in Washington. "That is why so much money flows immediately after there is a certain type of disaster, and it dries up after a couple of days."
Individuals gave an estimated 72 percent of the $358.38 billion donated to charity in 2014, according to Giving USA, with the rest coming from foundations and corporations.
Donor-advised funds make up a very small but growing part of that individual pie, granting $12.5 billion in 2014, up from $9.7 billion in 2013, according to the National Philanthropic Trust, which operates a donor-advised fund. And overall assets held in those accounts rose to $70 billion from $58 billion.
At Fidelity Charitable, one of the largest providers, you will need $5,000 to open a donor-advised fund. Most of those who open accounts like these have planned giving on their minds - to their alma maters, religious organizations, health concerns or local communities. But account holders at Schwab Charitable, for instance, leave about 30 percent of their assets free to fund causes that come along.
"It's hard to know how many are pulling a credit card out and donating directly rather than using their donor-advised funds," said Kim Laughton, president of Schwab Charitable . "But I think they understand they can do it quickly through the fund. They can even grant from a cellphone, which is really nice."
The advantages of giving through a donor-advised fund are that the money can be set aside and noted on tax returns, but granted later. Also, the fund groups take care of much of the paperwork involved in a donation - especially helpful for non-cash gifts like stocks or even Bitcoin, at some organizations.
Donors should note, however, that brokerage management fees do apply to the accounts, as in regular investment accounts.
While Fidelity and Schwab send out email blasts and newsletter updates to their donor bases when a major disaster occurs, they worry about creating disaster-giving fatigue. This has made some other donor-advised funds very cautious about pushing out notices.
"We wait for donors to come to us, rather than becoming an annoying dinging to them," said Eileen Heisman, president and CEO of the National Philanthropic Trust.
All the funds are especially cautious about looking beyond the immediate emotional need to help when they select charities to highlight. That is what Fidelity tried to steer with its Nepal effort, said Elaine Martyn, vice president of the private donor group at Fidelity Charitable. While the website highlighted just a few charities to start, by the time those 6,000 grants were given out, they went to hundreds of different organizations like Doctors Without Borders, Save the Children and smaller ones that focused on eye health and animal welfare, many of which will be providing long-term support for rebuilding.
"Lot of donors want to give to the first responders, then they forget about it. There's a whole other set of organizations that are good at hanging in there," added Heisman.
Ottenhoff suggests breaking up gifts into two parts, one for immediate need and one for long-term building.
"It should be a time to take a moment of reflection - what do you want to accomplish? What organization can do it?" he said.
(Editing by Lauren Young and Jonathan Oatis) || New York exchange itBit says won 5 blocks of U.S. bitcoin auction: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - New York-based bitcoin exchange itBit said on Monday it won five blocks of the digital currency at last week's auction conducted by the U.S. Marshals Service.
The bid by itBit was organized on behalf of a syndicate of the exchange's and over-the-counter trading clients, said Bobby Cho, director of trading at itBit, in an email to Reuters.
The five blocks of the virtual currency may have added up to at least 10,000 bitcoins. Cho declined to make further comments.
Last week's auction included 21 blocks of 2,000 bitcoins and one block of over 2,341.
The U.S. government on Thursday held its final auction of bitcoins seized during the prosecution of the creator of Silk Road, an online black market where the virtual currency could be used to buy illegal drugs and other goods.
It auctioned 44,341 bitcoins last week.
When contacted for comment, the U.S. Marshals Service said it was not anticipating further announcements on Monday.
itBit also won part of the U.S. government's auction in March, nabbing 3,000 of the 50,000 bitcoins auctioned.
In May, itBit became the first virtual currency company to receive a charter to operate as a trust company in the state of New York.
Meanwhile, Genesis Global Trading, a unit of Digital Currency Group founded by prominent bitcoin investor Barry Silbert, was informed by the U.S. Marshals Service that the company did not win any of the blocks up for auction, the company's chief executive officer, Brendan O'Connor, said in an email to Reuters on Monday.
In late trading on Monday, bitcoin was trading up 1.8 percent on the day at $379.27 on the BitStamp platform. That put the value of the 44,341 bitcoins auctioned at about $16.8 million.
Bitcoins are used as a vehicle for moving money around the world quickly and anonymously via the Web without the need for third-party verification.
Last Thursday's auction drew just 11 registered bidders and 30 bids, a decline from the March sale, which attracted 34 bids from 14 registered bidders.
(Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Nate Raymond; Editing by Diane Craft and Jonathan Oatis) || Cable & Wireless Communications and Huawei Have Successfully Tested the First Trial of the Fastest Copper Based Broadband Service With G.fast Across Latin America: MIAMI, FL--(Marketwired - Jan 6, 2016) - Cable & Wireless Communications Plc's (CWC) business unit in Panama, Cable & Wireless Panama SA (CWP) and Huawei , a leading global information and communications technology (ICT) solutions provider, today announced the first successful trial of the fastest copper based broadband service across Latin America using leading G.fast technology. As a market leader in mobile and broadband services in Panama, CWP is also the largest telecom service provider in the country with a market leading brand, superior network coverage and excellent customer service. CWP partnered with Huawei to deploy CWC's first trial of the G.fast technology on its existing copper infrastructure. "We are excited to be partnering with Cable & Wireless Communications and together pioneering the first trial of the fastest copper fixed line broadband service with G.fast across Latin America," said Mr. Stephen Ma, CEO of Huawei for the Caribbean. "G.fast is the right way to extend the existing fixed line infrastructure to the gigabit access era by accelerating a future oriented ultra-broadband solution with unparalleled user experiences," he added. The G.fast technology trial ran for two months in Panama deploying Huawei's latest multi-service access node equipment. CWP's trial successfully achieved high speeds averaging 500 Mbps to download and 150 Mbps to upload, over its existing copper fixed lines. "We are thrilled to announce that Cable & Wireless Panama was the first market across Latin America to have successfully completed testing of the G.fast technology, which can deliver high speeds, to its customers through the fastest copper based fixed line broadband technology across the region reaching speeds of 500 Mbps," said Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications. "Our strategic partnership with Huawei has strengthened our commitment to consider solutions that deliver high-speeds," added Alloni. G.fast technology is based on the Time Division Multiplexing (TDM) method with an improved algorithm that cancels the noise in the lines, reducing the effects of crosstalk and allowing transmission of higher rates of bits with a better quality, increasing the speeds of the information transmitted. Huawei's G.fast solution can complement the other technologies selected for its HFC (Hybrid fiber-coaxial) and Fibre delivery platforms. CWP's G.fast technology is providing a fivefold increase in speeds compared to any existing internet copper residential service in Panama and empowering the fastest copper fixed line broadband service across Latin America. Story continues About Huawei Huawei is a leading global information and communications technology (ICT) solutions provider. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Its innovative ICT solutions, products and services are used in more than 170 countries and regions, serving over one-third of the world's population. Founded in 1987, Huawei is a private company fully owned by its employees. About G.fast G.fast is a digital subscriber line (DSL) standard for local loops, with performance targets between 150 Mbps and 1 Gbps, depending on loop length. Since the launch of the world's first G.FAST prototype by Huawei in December 2011, G.FAST technology has become highly anticipated by the ICT industry and has maintained strong development momentum. About C&W Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . About CWP Cable & Wireless Panama (CWP) is the market leader in mobile, broadband and fixed line services in Panama. The Company's mobile business operates under the brand name +Movil and the other businesses under + internet and +TV Digital in Panama. CWP is also a leading regional player in enterprise and managed services as well as being a leader in carrier services in partnership with our Caribbean business. View comments || Banks expected to adopt new technologies rather than be overrun: NEW YORK (Reuters) - New technology firms are battering all kinds of companies, but banks will remain as financial intermediaries, due to the regulations and duties governments have put on them, says a proponent of the technology behind the bitcoin cryptocurrency. "Regulation keeps them in place. Regulation requires them to perform certain functions," said Mark Smith, chief executive of Symbiont.io, a startup that has emerged from Bitcoin 2.0 and MathMoney f(x) Inc to build a securities trading platform using blockchain technology like that behind bitcoin. Smith predicted that big banks, such as JPMorgan Chase & Co, would adopt new technologies to cut costs for back offices that process loans and match buyers and sellers of securities. "A massive amount of infrastructure just goes away," said Smith, who was speaking on Thursday in a panel discussion held by Thomson Reuters on innovation and disruption in financial services. New competitors are coming into banking from Silicon Valley, JPMorgan's chief executive, Jamie Dimon, warned bank shareholders this year. But he also said JPMorgan had much to learn from them and might enter partnerships with some. JPMorgan worked with Apple Inc on last year's launch of the Apple Pay application for making credit and debit card payments with smartphones. Last month the bank said it would also operate a rival digital wallet called Chase Pay. Later, Smith said his firm expected to sell tools to big banks for securities trading by customers. "We are a disrupter and an enabler as well," he added. Another panel member, Sam Shrauger, senior vice president of digital solutions at card and payments company Visa Inc, said that while cash and paper check transactions give way to electronic messages, "that's not going to change the overarching way that we move money." (Reporting by David Henry in New York; Editing by Clarence Fernandez) || Banks expected to adopt new technologies rather than be overrun: NEW YORK (Reuters) - New technology firms are battering all kinds of companies, but banks will remain as financial intermediaries, due to the regulations and duties governments have put on them, says a proponent of the technology behind the bitcoin cryptocurrency.
"Regulation keeps them in place. Regulation requires them to perform certain functions," said Mark Smith, chief executive of Symbiont.io, a startup that has emerged from Bitcoin 2.0 and MathMoney f(x) Inc to build a securities trading platform using blockchain technology like that behind bitcoin.
Smith predicted that big banks, such as JPMorgan Chase & Co, would adopt new technologies to cut costs for back offices that process loans and match buyers and sellers of securities.
"A massive amount of infrastructure just goes away," said Smith, who was speaking on Thursday in a panel discussion held by Thomson Reuters on innovation and disruption in financial services.
New competitors are coming into banking from Silicon Valley, JPMorgan's chief executive, Jamie Dimon, warned bank shareholders this year. But he also said JPMorgan had much to learn from them and might enter partnerships with some.
JPMorgan worked with Apple Inc on last year's launch of the Apple Pay application for making credit and debit card payments with smartphones.
Last month the bank said it would also operate a rival digital wallet called Chase Pay.
Later, Smith said his firm expected to sell tools to big banks for securities trading by customers. "We are a disrupter and an enabler as well," he added.
Another panel member, Sam Shrauger, senior vice president of digital solutions at card and payments company Visa Inc, said that while cash and paper check transactions give way to electronic messages, "that's not going to change the overarching way that we move money."
(Reporting by David Henry in New York; Editing by Clarence Fernandez) || Patriots, Not Panthers, Are Super Bowl 50 Favorites: What do the Carolina Panthers have to do to get some respect around here? The New England Patriots are still favorites to win Super Bowl 50, despite their loss to the Denver Broncos last Sunday and the Panthers’ status as the NFL’s only remaining undefeated team entering Week 13, according to a popular online sportsbook.
Led by starting quarterback Cam Newton, the Panthers trounced the Dallas Cowboys 33-14 on Thanksgiving to improve to 11-0. The Patriots fell to 10-1 and lost superstar tight end Rob Gronkowski to an injury in a 30-24 overtime loss to the Broncos. Even with that loss, the Patriots have 10/3 odds to win Super Bowl 50, according to leading online sportsbook Bovada. Despite their unblemished record, the upstart Panthers are ranked second, with 4/1 odds to win the big game next February.
The defending champion Patriots have won four Super Bowls with head coach Bill Belichick and quarterback Tom Brady at the helm, developing an aura of invincibility in the process. Gamblers have bet “probably double the amount of money” on the Patriots to win Super Bowl 50 than any other NFL team this season, according to Kevin Bradley, Bovada’s sportsbook manager.
“People still like the Patriots. They like Tom Brady, he’s been there before, he’s won before. I think they just feel he’s proven. If it came down to them playing the Panthers in the Super Bowl, the Patriots would be favorites,” Bradley said.
It’s rare for an NFL team that’s still undefeated at this point in the season to not be the favorite to win the Super Bowl. But the Panthers’ dubious distinction has more to do with the public’s trust in the Patriots than any lack of confidence in Carolina’s roster.
“I wouldn’t say it’s normal, but the one reason is because it’s the Patriots. If it was any other team, if the Patriots didn’t only have one loss, the Panthers probably would be the favorite,” Bradley said.
Bettors are still placing a significant amount of money on the Patriots to win it all despite their Week 12 loss, injuries to Gronkowski and wide receiver Julian Edelman and the relatively small payout afforded by 10/3 odds. But Bovada has taken more bets for historic NFL powerhouses such as the Green Bay Packers, Denver Broncos and the Dallas Cowboys to win this year’s Super Bowl than the Panthers, despite their strong performance.
Traditionally, the Panthers have lacked the brand recognition and the nationwide popularity to attract a high volume of wagers, Bradley said.
“The Panthers, up until now, no one was betting on them. Every year, no one really bets on them. They’re not a popular team, there’s not a base of Panthers fans around the US,” Bradley said.
Still, the Panthers have a chance to join the 2007 Patriots and the 1972 Miami Dolphins as the only teams in NFL history to finish the regular-season undefeated. Carolina has 4/1 odds to go 16-0 this season and 10/1 odds to win the Super Bowl with a perfect 19-0 record, according to Bovada.
Not even the Patriots have done that.
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[Random Sample of Social Media Buzz (last 60 days)]
$437.30 at 03:45 UTC [24h Range: $403.00 - $467.80 Volume: 26495 BTC] || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000003 Average $1.4E-5 per #reddcoin 06:30:00 via #p…pic.twitter.com/YcxkEYGiHZ || Current price: 293.7£ $BTCGBP $btc #bitcoin 2015-12-21 15:00:04 GMT || ★MONA/JPY
0~10【もなっくす】
9~9.1【Zaif】
★MONA/BTC
0.00000~0.00000【AllCoin】
0.00020~0.00024【もなとれ】
0.00021~0.00021【bittrex】
00:30現在 || Current price: 434.32$ $BTCUSD $btc #bitcoin 2016-01-01 02:00:05 EST || LIVE: Profit = $59.37 (1.30 %). BUY B13.86 @ $329.00 (#BTCe). SELL @ $331.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || #RDD / #BTC on the exchanges: Cryptsy: Error Bittrex: 0.00000004 Average $1.3E-5 per #reddcoin 18:00:01 via #priceo…pic.twitter.com/OCC6AWfCVh || Predictive Linguistics: What is the Emotive Value of Bitcoin? queued to 12:00 https://www.youtube.com/watch?v=6vpAHbbADxo&feature=youtu.be&t=12m00s … via @clif_high #lexicon #sentiment || $371.98 at 10:00 UTC [24h Range: $356.47 - $373.24 Volume: 10379 BTC] via #btcusdpic.twitter.com/jSL1CCAGUr || Bitstamp: $414.47/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 424.95, low: 400.00) #bitcoin #BTC http://bitcoinautotrade.com
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Trend: down || Prices: 447.61, 447.99, 448.43, 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
C&W Business Launches Hosted Collaboration Solution (HCS) on Demand at Cisco Live!: CANCUN, MEXICO--(Marketwired - Nov 7, 2016) - Cisco Live! -- C&W Business , part of C&W Communications (C&W), one of the largest full service communications and entertainment providers in the Caribbean and Latin America region, now owned by Liberty Global (LiLAC Group), is excited to announce the launch of Hosted Collaboration Solution (HCS) on Demand, a managed Unified Collaboration Service, at Cisco Live! . Cisco Live is one of the main IT conferences in the Latin America region and is expected to draw more than 5,500 customers, experts and partners from different business segments and levels. Cisco Live! will be held from November 7-10 in Cancun, Mexico and C&W Business will be present at booth #506 showcasing live demos of its next-generation platform, HCS on Demand. The launch of HCS on Demand, powered by Cisco, is a managed unified collaboration platform that will enable customers in 24 countries across the Caribbean and Latin America to leverage a full suite of IP-enabled collaboration tools. HCS on Demand will be hosted by C&W Business at their data centers and be delivered to customers over the Company's world-class, SIP-enabled fiber IP (terrestrial and submarine) and fault-tolerant network. This network encompasses over 42,000 kilometers (26,000 miles) of fiber across the Caribbean and Latin America and is the only MEF CE 2.0 certified network across the region, allowing C&W Business to deliver highly secure and reliable data, voice and video services efficiently to its customers. "C&W Business HCS on Demand helps accelerate customers' day-to-day business processes, helping achieve better and faster business outcomes across the region. Customers won't have to worry about burdening their IT staff with the effort to deploy and operate their own PBX or UCC platform. Customers will only pay for what they need, with no upfront costs, making unified communications more affordable and the costs more predictable in a fixed monthly service charge per user," said Daniel Peiretti, SVP Product Development and Management, C&W Business. "Our HCS on Demand solution is secure, offers strong SLA's, and is supported by a business-class infrastructure with a certified team that uses a simplified deployment model. We will have customers up and running in no time, from anywhere, anytime and from any device," added Peiretti. Story continues As a Cisco Master Managed Service Provider, C&W Business utilizes its highly secure and connected fabric of datacenters to deliver the most comprehensive, integrated solutions for clients. This crucial element enables clients to have a single point of contact, avoiding the challenge of managing multiple vendors. In addition, business applications and unified communication applications are hosted in the same datacenter significantly reducing latency and enhancing data security. C&W Business HCS on Demand will offer customers: Voice and video communications, mobility, messaging, presence, web and video conferencing, and contact center. Access to cloud-based resources in a fast and easy way so customers can get up and running faster than with traditional models. Predictable per-user monthly costs without having to incur upfront capital expenditure investments. Ability to easily ramp up or down to address seasonal needs. Deployment of different license types to individuals across work groups or departments as required. Elimination of the costs and problems of equipment maintenance and software upgrades. Customers most likely to benefit from this solution are those with a need for enhanced remote worker integration, mobility, cost reduction, reduced travel cost, simplified user experience, accelerated decision making, improved customer service and better work-life balance for its employees. In addition, existing Cisco collaboration customers can migrate their "on premises" solution into this cloud and maintain their investment in licensing. Cisco Live! is the premier IT conference in Latin America -- which gathers customers, experts and partners from different industries, segments, and countries. Cisco Live! is held annually in four cities worldwide: Las Vegas, Berlin, Melbourne and Cancun. Learn more at #CiscoLiveLA Visit C&W Business at Cisco Live! C&W Business will be an exhibitor at booth #506 during Cisco Live!, at the Moon Palace Golf & Spa Resort Cancun, Mexico. To learn about our technology-driven solutions that offer unique Cisco collaboration technologies using hosted and managed models. Meet our technology experts and join us for demo presentations on our solutions on November 9 from 10:30 am - 12:30 pm and on November 10 from 12:30 - 2:00 pm in the Cisco Powered booth. NOTES TO EDITORS C&W Business To Offer Cisco Collaboration As A Service Over Its MPLS Networks About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 60 million television, broadband internet and telephony services. We also serve 10 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. || Traders weigh chasing Microsoft rally after stock passes all-time high in late trading: The " Fast Money " traders debated whether it's worth chasing the rally in Microsoft (NASDAQ: MSFT) after the company posted an earnings beat driven by continued growth in its cloud business . The stock climbed above its 1999 all-time high of $59.97 in extended trade. Trader Brian Kelly said he would not chase the rally in Microsoft, but would be interested in it on a pullback. "Everything that these guys said is exactly what everybody in this market now wants. There's very few stocks out there that have this type of growth, that have a dividend, that have a strong management team ... so Microsoft is going to attract a lot of investment money," Kelly said. Trader Karen Finerman agreed, but added that Microsoft's current valuation about a 27 price-to-earnings ratio on a trailing basis is much more appetizing than it was 17 years ago. Trader Dan Nathan said that a large portion of Microsoft's revenue still comes from its legacy businesses and that the current valuation is still too rich. He said there's a risk that the growth of the cloud business could slow down. Trader Tim Seymour disagreed, saying that Microsoft could still increase margins and market share. Disclosures: KAREN FINERMAN Karen Finerman is long AAL, BAC, C, DAL, long DB calls, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI. Her firm is short IWM, MDY. Finerman is on the board of GrafTech International. DAN NATHAN Dan Nathan is TWTR long, PYPL long Oct calls, XHB long Jan put spread, XLU long Dec call Spread, XLK long Jan put spread, XRT long Jan put spread, PG long Dec put spread, EEM long Nov put spread. BRIAN KELLY Brian Kelly is long Bitcoin, SLV and Silver Futures, US Dollar UUP. He is short the euro and Japanese yen. TIM SEYMOUR Story continues Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM. short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM More From CNBC Top News and Analysis Latest News Video Personal Finance || Nadex Q3 2016: Interest Keeps Growing in Limited Risk Trading: Total number of trades up over 53% versus Q3 2015 Faster, easier deposits and withdrawals using bank debit cards on mobile devices Major updates for Android and iPhone apps New Market Filter gives traders greater control and precision CHICAGO, IL / ACCESSWIRE / October 12, 2016 / Following the Trading Update for the quarter ending August 31, 2016 reported by parent company IG Group (LSE: IGG), Nadex reported over 37% growth in trade volume and over 53% growth in total trades of binary options during the third quarter of 2016 compared to Q3 2015. Nadex has seen quarterly increases in volume and total trades for 19 of the last 20 quarters. This sustained growth points to an important movement: demand for limited-risk alternatives to conventional trading. Individual traders are increasingly attracted to the low fees, low minimum opening balance, and guaranteed limited risk offered by exchange-traded binary options and spreads. Faster, Easier Deposits and Withdrawals The latest updates to the Nadex mobile apps make it easy and quick to open and manage an account from anywhere. Mobile users can upload application documents and deposit funds instantly. Members can withdraw funds to their checking accounts just as quickly and securely, anytime from PC or mobile. Powerful Market Filter Tool With over 10,000 contracts available daily, Nadex added a major new feature to its proprietary trading platform: Market Filter. Traders can search for markets and contracts to trade based on several criteria, including asset class, current trading price, length of contract, and time to expiration. For example, a trader can filter for crude oil binaries costing less than $40, to sell, with under an hour until expiration. Or for weekly euro binary options that are at or in the money. This feature, available in both the free demo and live platform with free real-time market data, allows traders to test a virtually limitless range of strategies. Growing Awareness of the Value of Regulated Exchanges The importance of trading binary options on a CFTC-regulated exchange has received mainstream acceptance. In 2013, the CFTC issued an advisory stating that only three exchanges, including Nadex, were legally authorized to solicit US clients. In early 2016, a major Cyprus-based binary options vendor found to have offered off-exchange contracts to US customers settled with the CFTC and SEC for $11 million and closed its US operation. Story continues Such developments have highlighted the contrast between illegal offshore vendors and regulated, US-based exchanges like Nadex. Nadex has emerged as a leading CFTC-regulated exchange offering limited-risk trading in binary options and spreads on multiple asset classes. "We're no longer just trying to introduce the concept of limited-risk trading," said Nadex CEO Timothy McDermott. "People are aware of it. Now our job is to get them asking, 'If I can trade the same markets with limited risk on a CFTC regulated exchange - with lower fees and capital requirements - why not?' Frankly, we hope everyone starts asking that question." Nadex: US-based, regulated, secure Nadex is the first and largest CFTC-regulated online exchange in the U.S offering binary options and spreads to individual traders seeking low-cost, limited risk ways to participate in the markets. Member funds are segregated and held in top-tier US banks. Using Nadex's online and mobile platforms, traders can trade short-term price movements in the most heavily traded currency, commodity, and stock index markets, as well as on economic events and the price of Bitcoin, with limited-risk hourly, daily and weekly contracts. Notes to Editors Nadex offers traders a trusted, secure way to trade binary options and spreads on a wide range of the most heavily traded forex, commodities and stock indices. Nadex is headquartered in Chicago, and is subject to regulatory oversight by the CFTC. Follow us on Twitter: @Nadex_US Like us on Facebook: nadexUS To learn more about Nadex, please visit https://nadex.com . For information on becoming a Nadex member, call 1-866-296-0167 or email customerservice@nadex.com . Disclaimer: Trading on Nadex involves risk and may not be appropriate for all investors. SOURCE: Nadex || Bitcoin price soars, but it isn't about Trump and Clinton: The price of bitcoin has soared 23% in the last month and is now approaching its 2016 peak of around $765 in June. The coin is up 66% since January. At its current price of $728 at the time of writing, bitcoin’s market cap is nearly $12 billion.
So, what’s stoking the ride?
You might think the US presidential election, just five days away now, has something to do with it. And indeed, aJuniper Research studyfrom back in May (“Will Bitcoins Bite Back?“) predicted the bitcoin price would spike right before the election, due to market uncertainty. Specifically, the study determined that a win by Donald Trump would boost the bitcoin price: “If Donald Trump becomes President of the US, there is the very real prospect of turmoil on world markets,” said Dr. Winslow Holden in a Juniper press release about the report. “Bitcoin would thrive in such an environment, at least until the impact on major fiat currencies becomes clear.”
Meanwhile, Hillary Clinton’s campaign considered accepting donations in the form of bitcoin, aleaked email thread revealed. But John Podesta was more intrigued by the digital currency Ven, writing: “I don’t send all the crazy ideas I hear about at fundraisers your way, but this seems interesting and legit. Essentially digital currency with a green angle as opposed to bitcoin’s libertarian Ayn Rand schtick… see if it’s worth a real conversation?” UltimatelyClinton’s campaign decided not to accept bitcoin.Trump’s campaign did accept bitcoin.
Despite the timing so close to the election, the bitcoin community consensus is that the October price spike isn’t from Clinton or Trump: it’s China driving the surge.
The Chinese yuanhas fallen 4.3% against the US dollarin the last six months, and thePeople’s Bank of China has cracked downwith stricter capital controls.
China and a falling yuan is almost always cited as the biggest factor when the price of bitcoin rises. The thinking is that Chinese investors seek a safe haven in bitcoin, which is an asset largely untied to mainstream markets. (This alsohappened to an extent in Greece during its bank shutdownlast year and ishappening right now in Venezuela.) Often,it’s actually something else. This time around, the data supports the idea that the interest is coming from China.
Nearly 99% of all global bitcoin trading activity happening right now is happening in Chinese yuan. (It’s worth noting that some bitcoin people doubt Chinese exchange data because it could be inflated or meaningless due to very low fees that prompt empty trading activity.)
Bitcoin trading volume in the Chinese yuan is up more than 20% in the past 30 days, based on charts frombitcoincharts.com,bitcoinity.organdcoinmarketcap.com. If you check out the sitefiatleak.com, which maps bitcoin purchases in real-time, the overwhelming majority of activity right now is in yuan (CNY).
“It does seem like a cop-out sometimes when everyone says it’s China, but in this case, the data supports it,” says Alex Sunnarborg, CFO ofLawnmower, a digital currency trading and data app. Bitcoin trading volume on Lawnmower is up 40% in the past two weeks from the typical two-week average.
Sunnarborg adds that whenever the bitcoin price spikes significantly, regardless of the reason, it feeds on itself and drives it higher. “People see that demand and feel that FOMO [fear of missing out], which drives a lot of new people in. The market is so thin and new, people are hunting for news, so anything you hear has an immediate effect. It goes the opposite way as well—if you read bad news about bitcoin prices, the market has a tendency to panic. That’s what Ethereum is doing right now.”
Indeed, the price of ether (ETH), arival coin that trades on the separate Ethereum blockchain, isdown 17% in the past month. In July, Ethereum completed a “hard fork” that essentially reset its network after a major hack in June. Keep in mind that ether only launched just over one year ago, and is up nearly 300% since then, to $11 per coin. But its recent fall has been a boon to bitcoin, Sunnarborg reasons.
“If you look at ethereum communities right now, people are a little scared, and the bitcoin vs ethereum chasm does go back and forth,” says Sunnarborg. “Whenever you see strength in the bitcoin network, volume goes back into bitcoin.”
Ripple, another popular digital currency (XRP) that came along after bitcoin (in 2012), is also down 4% in the last week.
There’s one other bitcoin factor driving the price up: this month, a sort of voting period will begin for whether to implement “segregated witness,” a proposed solution to bitcoin’s ongoing block-size debate.
Huh? Let’s step back: bitcoin is traded on the bitcoin blockchain, a decentralized, permissionless, peer-to-peer ledger that records every single bitcoin transaction. On the bitcoin blockchain, bundles of transactions are added to the chain by “miners” who receive a small reward in bitcoin for doing the mining; think of them as librarians recording the date and borrower of a book, or as court stenographers recording the history of bitcoin trades. (For more, watch the below video.)
The speed of the blockchain has slowed in the last year under the weight of activity, and the bitcoin community has argued amongst itself over whether to raise the size limit of each block. The speed at which the bitcoin blockchain operates is of crucial importance, since it is often compared to the payment rails of big mainstream processors like Visa.
“Segregated witness” was one popular proposal: an update to the bitcoin software that would allow miners to raise the size capacity on individual blocks without raising the capacity of the entire blockchain for good, and without doing a “hard fork” (which would split the blockchain into two) like Ethereum just did. Think of it like a Brinks armored car, which hauls bags of cash. Rather than having all the cars start using bigger bags, Segregated Witness (bitcoin people are calling it SegWit for short) is like allowing each driver to start using a few bigger bags just in cases where a bigger bag is needed.
Beginning on Nov. 15, bitcoin miners can signal, with each block they mine, whether or not they support Segregated Witness. It should help more transactions go through faster. After one year, if 95% of the blocks have signaled that they like it, Segregated Witness will go into full effect for the Bitcoin Core software.
Why does all this matter for the price of bitcoin? It might not matter for the casual outside speculator, but for wonky bitcoin insiders, the implementation of SegWit is an exciting milestone, and may contribute a little bit to the price hike. “I think SegWit was a big market move,” says Sunnarborg. “SegWit has been talked about for so long that if there had been a huge delay or problem announced, we would have seen the market swing the other way. But now it’s bringing demand from the community to go back into bitcoin.”
While the Chinese yuan has been the biggest factor in boosting the bitcoin price, the beginning of SegWit and general US market uncertainty are not unrelated. And the election almost certainly will play a larger role right after it ends. If Trump somehow wins, expect bitcoin to soar.
—
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite.
Read more:
The latest bitcoin price surge isn’t just about Brexit
Here’s where big banks stand on blockchain
Why 21.co is the most exciting bitcoin company right now
Coinbase is more bullish on bitcoin than ever || Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago. Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV). Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website. "Custodian's cold storage system was purpose-built to demonstrate 'proof of control' of the private keys associated with its public bitcoin addresses," the filing said. "The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate 'proof of control' of the private keys that control the Trust's bitcoin on a monthly basis." Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said. In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue. Since its launch in September, the Gemini auction has transacted more than 1,900 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume, according to company data. The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume. Story continues The ETF would trade under the ticker symbol COIN. Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform. (This version of the story adds the dropped word "bitcoin" in the 7th paragraph, fixes a typographical error in the 10th paragraph and corrects source to say 'according to company data' instead of 'Gemini said on Tuesday') (Reporting by Gertrude Chavez-Dreyfuss; Editing by Tom Brown) || What traders are buying if Trump wins: The "Fast Money" traders on Friday weighed stocks they would buy ifDonald Trumpwon the election.
U.S. markets turned negative earlier in the day after theFederal Bureau of Investigationannounced it isinvestigating new emailsrelated to Democratic nomineeHillary Clinton.
Trader Steve Grasso said investors should be keeping an eye on securities that are interest-rate sensitive like utilities or gold. He said it wouldn't make sense to increase risk exposure in an overall market that is selling off.
Trader Brian Kelly said General Electric is the best bet in a selloff because both Clinton and Trump have promised to increase infrastructure spending.
Disclosures:
TIM SEYMOUR
Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, CVX, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, and short EWG, HYG, IWM
STEVE GRASSO
Steve Grasso is long: BA, CC, CHK, EVGN, KBH, MJNA, MON, MU, OLN, PFE, PHM, T, TWTR, GDX. His children own: EFA, EFG, EWJ, IJR, SPY. No short positions. Grasso's firm is long: VIRT, DVN, LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, SPY, QQQ, DIA, XLI, BGCP, VIRT, GE, AIR, FP.
BRIAN KELLY
Brian Kelly is long Bitcoin, long USO, SLV and Silver Futures, US Dollar UUP. He is short the euro and the Japanese yen.
GUY ADAMI
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Winklevoss brothers name State Street as bitcoin ETF administrator: (Adds dropped word "bitcoin" in 7th paragraph, fixes typographical error in 10th paragraph and corrects source to say ... according to company data ... instead of ... Gemini said on Tuesday)
By Gertrude Chavez-Dreyfuss
NEW YORK, Oct 18 (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission.
The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago.
Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity.
According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV).
Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website.
"Custodian's cold storage system was purpose-built to demonstrate 'proof of control' of the private keys associated with its public bitcoin addresses," the filing said.
"The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate 'proof of control' of the private keys that control the Trust's bitcoin on a monthly basis."
Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said.
In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue.
Since its launch in September, the Gemini auction has transacted more than 1,900 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume, according to company data.
The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume.
The ETF would trade under the ticker symbol COIN.
Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Tom Brown) || Blockchain could soon power stock markets, music sales, and even prevent child labor — here's how it works: (.)
It's a technology conceived by the mysterious creator ofbitcoin— the digital currency championed by a motley crew of privacy-obsessed libertarians, social activists, and some criminals.
(AP Photo)
Now the idea of blockchain has gripped Wall Street's biggest institutions.
Its enthusiasts think it could change the world. Sure, it would make contracts more enforceable and speed up the settlement of stock trades — hence the interest from big banks. But some see it going much further, cracking down onsex trafficking, music piracy, and child labor.
And the key to all that — what attracts these different factions — is something that, on the surface at least, sounds rather banal: a digital ledger, like the one in your checkbook.
"Blockchain is a truly extraordinary technology that does really mundane things," said Paul Brody, Ernst & Young's global blockchain leader.
But for all the promise, these big questions remain: Who will foot the bill, and is it really as secure as supporters say?
In the non-blockchain world, we keep separate records of transactions. If you write your friend a check, you balance your own checkbook and your friend does the same when they deposit it. But things can go wrong. They might forget to update their checkbook ledger. And each bank has no way to know immediately if the person has enough in their bank account to cover it.
(Flickr / oblivion9999)
With a blockchain, instead of two separate checkbooks with two records of debits and credits, you'd both look at the same ledger of transactions. It's private (encrypted, in computer-speak), and decentralized, so neither of you controls the ledger.
This "distributed ledger" operates on consensus. Both of you can look at the ledger. Each transaction gets put into a block. If you both say that block is valid and correct, it's added to a chain. And that chain is protected by sophisticated cryptography: No one can change the chain after the fact.
Now imagine this in a more complex form. This is what gets people in finance and technology excited.
Say you want to buy a stock. Right now, your bank, brokerage, the stock exchange, and the company you're buying all have separate, private records of transactions. They can't see each other's ledgers. Nor can they verify that everything is accurate among all involved.
With blockchain, they can all be on the same page — literally.
Your bank can verify that you have enough money to transfer to your brokerage. That transfer is added to the ledger of transactions that everyone involved can see. Then your broker executes a trade for 100 shares. That gets added to the blockchain, too. Everyone involved verifies it's legitimate.
The exchange receives the order — also added and verified. And then the company's shares end up in your account. You could see the record of all the shares you buy and sell in the permanent record. If you decide to sell the shares later, that transaction gets added to the blockchain.
And because it's a consensus model in which every party confirms a transaction, "it gets more secure the more people you add" to the blockchain, Brody said. "When a transaction is completed, everyone has to get a copy of the transaction."
That's blockchain in its purest form. In reality, however, different companies are experimenting with different forms. A blockchain used in financial services could be private, or a hybrid model between the decentralized vision and a more traditional centralized model that bankers are used to. A regulator, for instance, could hold the key to a blockchain, and some companies are thinking about how to maintain a middleman.
No one knows who invented blockchain. The idea for it came from apaper published online eight years agothat unveiled bitcoin, the digital currency. The author, Satoshi Nakamoto, is thought to be using a pseudonym. The true identity remains a mystery, and there's debate over whether it was created by an individual or group.
At first, bitcoin got all the attention. The idea of a secure, private currency, divorced from a specific government, captured the imaginations of technologists, libertarians, and people concerned about the power of big banks and government regulation. Bitcoin transactions occur peer-to-peer, meaning no government or third party is involved.
(Goldman SachsYouTube/Goldman Sachs)
Today, bitcoin and blockchain still attract privacy-minded and antigovernment types. But it also increasingly appeals to people like Grainne McNamara. She spent years building out technology at banks like Morgan Stanley and Goldman Sachs. Now she's a leader of PricewaterhouseCooper's blockchain for financial services. And that means she spends a lot of time attending and hosting blockchain conferences.
At one, a speaker showed a picture of a shed in his presentation. McNamara remembers him jokingly saying, "Take the bankers behind the shed and kill them." He didn't know his audience.
McNamara was sitting next to former bankers, who found the whole thing humorous, she said.
Despite the shed metaphor, "it's a peaceful cohabitation," McNamara told Business Insider. "People genuinely appreciate the disruptive element to spawn innovation."
One area blockchain proponents get excited about is the idea of a "smart contract." While most bank agreements are still paper documents — banks are awash in paper, even in 2016 — a smart contract is a computer program that helps keeps everyone accountable.
(People play a video game on the stand of Acer at the IFA Electronics show in Berlin, Germany, Sept. 2, 2015.Reuters/Axel Schmidt)
Let's say you're a company that designs and sells video game consoles. You work with suppliers and shipping companies, and have a number of serious concerns. You want to make sure they're manufactured well and on time. You want to make sure there are no labor violations, such as children working on the assembly line. And you want to make sure everyone gets paid on time.
In the old way of doing things, numerous contracts might be involved to manufacture one video game console. And each side may have its own paper copies.
Smart contracts provide automated accountability.
(Samantha Lee / Business Insider)
Because this is blockchain, everyone involved looks at the same contract; no one can change it without the permission of most others.
Here's an example: When a truck picks up finished video game consoles from a factory in, say, China, the shipping company scans each box. Those are added to the blockchain, triggering a release of funds from the video game company's bank account. No one has to invoice and chase a payment.
"You can marry up the delivery and payment of services," Brody said.
It can go beyond getting paid, too. Each worker on the assembly line could scan their identification card, which is then verified by multiple sources such as government agencies and third-party auditors, ensuring the workers are not underage or overworked. And because it's a blockchain, no one can alter the record later.
Some have discussed blockchain as a possible tool to help prevent sex trafficking and other scourges. And there are other uses for it that may become big parts of our lives.
(Samantha Lee / Business Insider)
Smart contracts in healthcare could do things such as trigger an insurance payment to a doctor when a patient undergoes a CT scan.
A blockchain could also be a secure place to store electronic medical records.
It would detail all patient-doctor communication, illness and treatment information, vaccination records, medical bills etc. Every subsequent doctor visit or treatment would be added to the blockchain, including those in different cities and countries, creating a complete, historical record of the patient's health.
In this case, the blockchain is private, and only certain participants would have the encryption keys to see the record.
Musicians may wish there had been blockchain when Napster undermined music sales around the turn of the century through file-sharing.
(Blockchain could prevent music piracyFlickr/Kelsey)
Now some are thinking blockchain could prevent piracy and help boost sales. Artists could provide their music directly off a ledger, and smart contracts might ensure the right people are paid and only those with rights play the tracks.
A similar model could help fund news outlets and other media organizations.
Some companies' whole job is tracking down property records. Blockchain could change that.
If property deeds were on a blockchain, the other participants (known as "network nodes") that validate the transaction could be real-estate agents, financing banks, and a land registry authority.
Once the transaction is validated, it is added to the blockchain, and the updated state of the blockchain is broadcast to the participants in real time. As the blockchain maintains the history of all transactions, the entire history of the property and its owners is on the blockchain.
The Australian Securities Exchange — ASX — plans to decide by mid-2017 if it will replace its post-trade clearing and settlement systemwith a blockchain version. This could be a turning point for blockchain and potentially a catalyst for widespread adoption.
(Bank of EnglandJim Edwards)
Central bankers are also getting in on the action. The Bank of England and the People's Bank of China are discussing issuing their national currencies — the pound and the renminbi, respectively — on blockchain. If successful, the technology would make the currencies more traceable, allowing the banks to track them through the financial system in real time.
Right now, this use of blockchain is limited to discussion and research papers, but if implemented, other central banks are likely to follow suit. The US Federal Reserve is closely following developments as well, with Fed Gov. Lael Brainard in charge of keeping an eye on the new technology.
It's also rumored that other items such as diamonds, art, and food could be put on blockchain so the entire history of the items could be traced.
There are over120 blockchain projectsspanning a variety of industries, and theannual budget for blockchain initiativesin 2016 is estimated to be $1 billion.
In financial services, Goldman Sachs, JPMorgan Chase, and Bank of America are among the big names that have partnered withR3, a startuptrying to bring blockchain technology to the finance world.
But if blockchain is going to work, it needs an industrywide standard. For the first bank to adopt this digital system and overhaul existing infrastructure, it could mean a risky and expensive investment, and that bank would have to hope others follow suit. No one wants to be the first to test that theory.
That's why this is one of the few cutting-edge technologies that is generating a lot of talk but not a lot of action among banks. While they are dabbling in the technology, attending conferences and partnering with R3,no bank is taking the leadand going from proofs of concept to using it in the real world.
"To get the true value, you need the network effect," said Graham Warner, head of global transaction banking product development in the Americas at Deutsche Bank. The more people and companies use blockchain, the more valuable the technology becomes.
For all its promise, some major impediments could prevent blockchain's widespread deployment, including regulation, cost, and security issues.
Implementing and standardizing blockchain could cost in the billions of dollars, and it would mean an overhaul of legacy systems that people are used to and understand. Today's technology works, and replacing it with something unproven is seen as an expensive risk.
Blockchain technology would also potentially mean a huge number of job losses, especially in middle- and back-office functions. Banks would have to get the remaining employees up to speed on the new technology, and using it would initially be a trial-and-error process.
(Ethereum)
In August, hackers stole $72 million worth of bitcoin from accounts at the Hong Kong cryptocurrency exchange Bitfinex. And in June, hackers stole $55 million worth of ether, a bitcoin rival. The nonprofit that runs ether, Ethereum Foundation, just rolled back the chain. It's as if the hack never took place, and business returned to normal. But that worries purists.
The Ethereum hack — and the response to it — led Accenture tocreatean "editable blockchain model," to "resolve human errors, accommodate legal and regulatory requirements, and address mischief and other issues," according to anews release.
Blockchain enthusiasts say this threatens the very nature of the blockchain itself. One of the fundamental benefits of blockchain technology is its immutability — the blockchain represents a "golden record" of transactions, a complete, historical record that technically cannot be interfered with or undone.
But there "isn't one blockchain to rule them all," Warner said. "It will be an evolutionary, Darwinian process" to figure out which version of the blockchain applies to which use case.
When McNamara learned about blockchain, she said she was "a little bit of a skeptic. But I've been proven wrong."
The ecosystem is evolving, she said, and people involved, whether they're activists or bankers, are getting together and talking about "shared values and pain points."
(ASXAP)
While some big players like the ASX may be using some form of blockchain as early as next year, some issues are holding blockchain back.
Different versions of blockchain are in development, and there's little agreement on what's the best or purest version to deploy. And dozens of startups are working on their own takes on blockchain. Innovation is happening, but all the competing ideas makes big companies cautious to commit to any one type.
But most proponents think everything will be worked out in due time, and that in the next few years, blockchain and its smart contracts would improve our lives, even if it operates quietly in the background, invisible to most people.
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• Amazon Prime members have access to one of the best smartphone deals out there right now || American Express still faces hurdles from Costco: Amex Costco (BII) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . After a series of tough quarters, American Express beat analyst expectations in Q3 . The firm’s success was propelled by “strong operating discipline and credit quality,” according to CEO Ken Chenault. But as Amex looks to cut $1 billion in costs over the course of the next several quarters in the wake of the sale of its Costco business, the firm still has hurdles to overcome. Despite overall gains, Amex saw mediocre results in a few key metrics, largely related to the loss of Costco’s store card portfolio, which Amex sold to Citigroup in June. Costco cardholders represented 8% of the firm’s billed business in 2015. Here are some key results from the quarter: Billed business: Amex’s global billed business in the quarter was down 3% year-over-year. But excluding the Costco portfolio, it grew 7%, which indicates the impact that the Costco loss has had on the company. The firm noted that it’s on track to retain 20% of the out-of-store spend of the previous Costco cardholders that it retained, but that’s still a meager portion of the $80 billion Costco cardholders spent in 2015, In addition, loans, which the Costco portfolio represented 20% of, fell by 12% in Q3. Issued cards: Amex had 108.8 million cards issued globally at the end of Q3 — that’s down by 7 million from the same period in 2015, despite reports of strong new customer acquisition in earlier quarters this year. That’s likely partly due to the loss of the Costco portfolio, which had 11.6 million cardholders. But the firm plans to invest in initiatives that will help it grow through Q4 and into next year.The firm outlined a few key focus areas that the firm will use to grow. Premium cards: Amex plans to focus heavily on its Platinum portfolio, likely as a result of the intense premium rewards card competition in the market right now. This portfolio could be particularly lucrative for the firm because of the high fees associated with it, and because premium cardholders will likely have higher spend. Small businesses: Amex has been working to extend relationships with small businesses through its OptBlue program, which makes it easier for these merchants to accept and use Amex cards. That program has been successful, and the firm has seen growing billed business among small- and medium-sized merchants. In Q4, Amex plans to run a promotion related to Small Business Saturday in order to make it known to cardholders that their acceptance network is growing, which could help encourage customers to spend more on Amex and boost the firm’s billed business. Marketing and outreach: Amex is looking to build on ongoing US customer acquisition success and ramp up in key international markets. The firm will boost digital marketing initiatives and run an extensive advertising campaign, which could help onboard younger customers or groups in key markets that will spend and provide Amex with additional transaction and card fee-related revenue. Story continues American Express and Costco are part of the much broader payments ecosystem, which includes merchants, acquirers, processors, and more. Evan Bakker and John Heggestuen, analysts at BI Intelligence , Business Insider's premium research service, have compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. Provides charts on our latest forecasts, key company growth, survey results, and more. Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments THE PAYMENTS INDUSTRY EXPLAINED: The trends creating new winners and losers in the card-processing ecosystem View comments || American Express is increasing its late fees: American Express (BI Intelligence) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . American Express will be the first major credit card issuer to raise its late payment fees under the Consumer Financial Protection Bureau’s updated allowable limit, according to the Wall Street Journal . At the start of 2017, Amex will begin charging a fee of up to $38 to customers with more than one late payment in a six month period. That's $1 more than what was previously charged by the card issuer, but could give the firm a solid revenue boost. Late fees could prove to be very lucrative in the current card market. As credit card usage increases, it's likely the number of delinquent accounts will also grow. Credit card accounts and usage are close to pre-recession numbers once again, according to Forbes. That's leading to a big rise in usage — US credit card debt is on track to hit $1 trillion this year, according to the Wall Street Journal . That could help explain the rise in delinquent accounts — since 2013, the percentage of accounts at least 90 days delinquent six months after origination has increased, according to Forbes. Late fees could be a vital revenue source. Nearly one in five active credit-card accounts incur a late fee, according to CFPB data used by the Wall Street Journal. This is significant, considering credit card companies were able to collect roughly $10.8 billion in fees during 2015 from these late payments. And for Amex, that revenue could be critical as the issuer grapples with the loss of Costco.Based on 2015 numbers, if Amex is able to capture just 1% of the late fee market, that's roughly $100 million in revenue — a figure that could grow as the market expands following the updated allowable limit. Although this revenue could boost any card network, it could be particularly beneficial to Amex in light of the firm's sale of its Costco cobrand portfolio to Citigroup earlier this year. Story continues Costco had 11.6 million cardholders and accounted for 8% of the firm's $1 trillion global billed business in 2015. As the firm realizes the impact of the Costco sale, it is looking for additional sources of revenue. Finding a way to capitalize on growing card spend and delinquencies could be one such way among a variety of strategies. The CFPB's new guidelines could have a significant effect on the payments ecosystem, which has grown in the last several years to include merchants, issuers, acquirers, processors, and more. BI Intelligence , Business Insider's premium research service, has compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. Provides charts on our latest forecasts, key company growth, survey results, and more. Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem THE DIGITAL REMITTANCE REPORT: The new platforms disrupting a $600 billion industry Credit cards are going the way of fax machines
[Random Sample of Social Media Buzz (last 60 days)]
$754.99 #bitfinex;
$741.00 #btce;
$748.02 #bitstamp;
$752.23 #kraken;
$750.12 #GDAX;
$751.07 #itBit;
#bitcoin news: http://bit.ly/1VI6Yse || 1 KOBO = 0.00000306 BTC
= 0.0022 USD
= 0.6688 NGN
= 0.0292 ZAR
= 0.2235 KES
#Kobocoin 2016-11-09 07:00 pic.twitter.com/g27i5nRcSn || 1 #BTC (#Bitcoin) quotes:
$715.07/$715.08 #Bitstamp
$707.99/$708.00 #BTCe
⇢$-7.09/$-7.07
$710.45/$717.60 #Coinbase
⇢$-4.63/$2.53 || #UFOCoin #UFO $0.000007 (-0.13%) 0.00000001 BTC (-0.00%) || #Triangles #TRI $0.239287 (-0.33%) 0.00034000 BTC (0.00%) || $613.30 at 20:45 UTC [24h Range: $610.00 - $614.98 Volume: 1092 BTC] || 1 KOBO = 0.00000463 BTC
= 0.0031 USD
= 0.9440 NGN
= 0.0427 ZAR
= 0.3143 KES
#Kobocoin 2016-10-26 08:00 pic.twitter.com/ECs6AQbeJI || Average Bitcoin market price is: USD 731.00, EUR 692.00 || $734.60 #bitfinex;
$716.00 #btce;
$740.70 #quoine;
$730.75 #GDAX;
$726.60 #bitstamp;
$730.09 #itBit;
#bitcoin news: http://bit.ly/1VI6Yse || #UFOCoin #UFO $0.000006 (2.64%) 0.00000001 BTC (-0.00%)
|
Trend: up || Prices: 758.70, 764.22, 768.13, 770.81, 772.79, 774.65, 769.73, 780.09, 780.56, 781.48
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-01-25]
BTC Price: 32366.39, BTC RSI: 48.20
Gold Price: 1854.90, Gold RSI: 47.42
Oil Price: 52.77, Oil RSI: 64.44
[Random Sample of News (last 60 days)]
Bitcoin Blasts Past $34K for First Time, Less Than 24 Hours After Blowing Through $30K: Another day, another $1,000-plus increase in bitcoin’s price, bringing the leading cryptocurrency’s combined gains this new year to about $5,000.
• The price ofbitcoinsurged past $34,000 for the first time ever early Sunday morning Eastern time, extending a record-setting holiday rally and adding an immediate exclamation point to the Bitcoin Network’s 12-year anniversary.
• Once the price of the leading cryptocurrency crossed the $30,000 mark for the first time Saturday – something it had struggled to do for the previous couple of days – it seemed all resistance vanished, rising more than $3,000 in about seven hours and reaching a new all-time high of $33,136.92, before settling down to fluctuate between $30,000 to $33,000.
• “Bitcoin makes TSLA [Tesla] look like it is standing still,”tweetedJim Bianco, well-known macro strategist, when the cryptocurrency broke $30,000.
• Then, Saturday evening, bitcoin resumed its climb, setting a new all-time high of $34,544.94 shortly into Day 3 of the new year, before giving back some gains, recently trading at $34,295.11, up 15.09% in the last 24 hours.
• It’s a wild start to 2021 and follows a landmark year in which the cryptocurrency rose more than 300%, with an almost 50% gain in December alone. On Nov. 30, bitcoinbreacheda nearly three-year-old high of $19,793. By the close of Dec. 31, the cryptocurrency had risen about $10,000.
• Into the third day of 2021, the price of bitcoin has risen about $5,000, bringing its year-to-date return to about 12%.
• Propelling the record-setting run is agrowing narrativethat bitcoin represents a form of “digital gold,” and bringing with it a flood of institutional investors into the cryptocurrency. Among them: Anthony Scaramucci’s Skybridge Capital ($182 millionin December); insurance giant MassMutual ($100 millionin December); and Guggenheim Investments (up to 10%of its $5 billion macro fund).
• “Bitcoin’s price is being driven by institutional money and there is not enough supply,” Laurent Kssis, managing director at 21Shares, told CoinDesk. “The number of family offices asking to invest in our [exchange-traded product] is just staggering. I’ve never seen this before. In 2017 it was just retail knocking at the door. Now it’s only institutional.”
• Kssis’ statements are buttressed by the fact that the number of whale entities – clusters of crypto wallet addresses held by a single network participant holding at least 1,000 BTC –roseto a new record high of 1,994 this past Wednesday.
• The metric increased by over 16% in 2020 and 7.3% in Q4 alone.
• “The final land grab has started, and by this time next year, accumulating >1,000 bitcoin will be nearly impossible for most people,” Jehan Chu, CEO at Hong Kong-based trading firm Kenetic Capital, told CoinDesk.
• HODLersalso have the U.S. Federal Reserve to thank for the cryptocurrency’s rise, as it, along with other central banks, has been printing money with abandon, trying to stave off the worst economic effects of the pandemic. This is viewed by many as a potential catalyst for inflation and bad for the U.S. dollar, both of which could be positive for bitcoin.
• “Many corporations are parking [U.S. dollars] in BTC because they are losing money in conventional banking, so it makes total sense,” 21Shares’ Kssis said.
• Growing global macro uncertainty may also be playing a factor in the recent surge. A peaceful transition of power in the U.S. is no longer the ironclad guarantee it used to be as 11 Republican senatorssaythey’ll vote to reject the presidential electors from certain states. While it’s still almost certain President-elect Joe Biden will assume office later this month, the need for a qualifier is a new event.
• That, plus a mutated strain of COVID-19, a lagging world economy and concerns over the effects of the now-completed Brexit may not be helping thezeitgeistbut could be aiding bitcoin, which some see as insurance against global chaos.
• With a market value now of over $638.00 billion, bitcoin ismore valuablethan all but nine publicly traded companies, sitting between Alibaba at $648.3 billion and Berkshire Hathaway at $543.7 billion.
• Bitcoin enthusiasts will likely find some joy in that last bit, an event that occurred last week, as Berkshire’s CEO, legendary investor Warren Buffett, once famouslyderidedbitcoin as “probably rat poison squared.”
• With today’s surge, the cryptocurrency again has resumed its marchup the ranksof the world’s most valuable currencies, again overtaking the Mexican peso, which it had briefly surpassed Saturday, to move into 16th place, behind the Russian ruble.
See also:Bitcoin Worth $1B Leaves Coinbase as Institutions ‘FOMO’ Buy: Analyst
• Bitcoin Blasts Past $34K for First Time, Less Than 24 Hours After Blowing Through $30K
• Bitcoin Blasts Past $34K for First Time, Less Than 24 Hours After Blowing Through $30K
• Bitcoin Blasts Past $34K for First Time, Less Than 24 Hours After Blowing Through $30K
• Bitcoin Blasts Past $34K for First Time, Less Than 24 Hours After Blowing Through $30K || Signet Jewelers sees jump in pandemic engagement proposals ahead of holiday season: Signet Jewelers (SIG), the world's largest diamond jewelry retailer, has seen a boom in engagement ring purchases, months ahead of the traditional holiday shopping season — and more of those big-ticket purchases are happening online.
“We knew that customers would be shopping longer this holiday season. More than 60% of jewelry customers said that they would be in the market early, starting as early as August or September. So, we've really changed the way we think about holiday. It's not just a fourth-quarter phenomenon. We've been thinking about the third and the fourth quarter, together, as the holiday season,” CEO Gina Drosos told Yahoo Finance Live.
On Thursday, Signet, the parent company of well-known brands such as Kay Jewelers, Zales, and Jared: The Galleria of Jewelry, reported stronger-than-expected third-quarter earnings results. Signet's total sales were $1.3 billion for the quarter, up 9.5% from a year ago. The closely-followed same-store sales rose 15.1% from the prior year, while e-commerce sales surged 71.4%. Brick-and-mortar same-store sales jumped 6.8% from a year ago.
The jewelry giant'sproprietary research from the prior quarterhad anticipated a strong engagement season with couples quarantining together deciding to get engaged. The customer research found that of couples within 18 months of getting engaged, more than half chose to quarantine together. Of those, 93% said their relationships were equally as strong or getting stronger.
In the quarter, Signet saw double-digit growth across its bridal category, with most of that coming from engagement rings.
"We had anticipated more engagements and got out in front of that with great new bridal lines, beautiful product, more customization options, and targeted marketing to couples who were in this stage of their relationship," Drosos said.
Elsewhere, fashion jewelry has also seen strong sales, "with people expressing their style with earrings and pendants now, not with shoes, when we're all on a Zoom call," Drosos added.
The pandemic has accelerated many trends in the retail landscape, including the jewelry business. Technology continues to play a more prominent role as more customers get comfortable with purchasing big-ticket items like jewelry online.
To be sure, the spike in online sales Signet saw was "not a reaction to crisis," Drosos said, noting the company has focused on building "a significantly better digital business" over the last few years.
The CEO, who took the helm in August 2017, has long embraced the role of digital in the jewelry business. Drosos has focused on a three-pillar planknown as "The Path To Brilliance," and one key component is to create an omnichannel experience that blends the physical and online shopping experience.
Drosos' team has focused on creating tools to make customers "feel more comfortable" making an expensive purchase online while maintaining the jewelry consultant's relationship.
This year, the jewelry giant brought technology to its field teams to create a virtual selling experience. The company now has 700 dedicated virtual sellers, while its 20,000 consultants and store managers can also sell virtually or meet physically with clients.
Signet also has visualization tools for online shopping. For example, a customer can upload a photo of their hand and virtually try on rings.
“[When] customers buy jewelry online the two things they're looking for — is advice and a trusted relationship and being able to visualize the product,” Drosos added.
Drosos added that the company has also optimized its store footprint. On the earnings call, the executive highlighted the company's continued shift to off-mall locations. Two-thirds of Signet's store fleet is housed in traditional malls. Of the 380 planned closures in the fiscal year, 316 were closed by the end of the quarter, with most closings happening in standard mall locations.
To be sure, stores will remain a “long-term competitive advantage,” she said. Drosos noted that most of the company's e-commerce sales come within 30 miles of a store.
“Jewelry has been very slow to become more digital, but I think it's really an omnichannel story, and that's where Signet can win.”
Julia La Roche is a correspondent for Yahoo Finance. Follow her onTwitter.
• Paul Tudor Jones makes bull case for Bitcoin: ‘The path forward from here is north’
• Paul Tudor Jones sees ‘massive boom’ after COVID vaccine gets released || Blockchain Bites: Bitcoin Moons, Crypto Orbits, Celebrities Struck by NFTs: Bitcoin is on a tear, bring the rest of the crypto market with it. Years of heads down building during the bear market is beginning to pay off – and not just because bitcoin’s price is charting new territory – with tons of funding announcements and business expansion. Here’s the story …
Serious Series CPaxos brought in$142 million in its latest funding round. The crypto service provider with big-name clients including PayPal, Credit Suisse, Societe Generale and Revolut now looks to double its workforce and expand its suite of products. “We are not a unicorn,” CEO Charles Cascarilla said, but it is a big fish going after aOCC-granted national bank license.
Amex invests…In thewhite-hot institutional trading platform FalconX. Announced Wednesday, American Express Ventures pumped an undisclosed amount into the trading solution with $3 billion in monthly transactions volumes. “Amex Ventures invests in startups as a way to better understand emerging areas of the payments ecosystem,” Harshul Sanghi, global head of Amex Ventures, said.
Related:First Mover: Geek-Fest Turns Relevant as Bitcoin Passes $21K, $22K, $23K
Massive buyCore Scientific has purchased over59,000 state-of-the-art crypto miners, tripling its mining set-up in three southern states. The blockchain and AI infrastructure provider now commands the largest fleet of Bitmain Antminer S19 rigs outside of China. Withbitcoinprices moving intouncharted territory, it’s likely many mining groups, companies and factoriesare in profit. Just today, mining marketplace NiceHash has finally reimbursed those affected by a4,640 bitcoin heist in 2017.
• BIG BANKS:Few financial institutions have been supportive of crypto but some forward-looking banks are positioned to ride bitcoin’s rally. (CoinDesk)
• RIPPLE NABS:Sandie O’Connor, a JPMorgan vet with ties to the Federal Deposit Insurance Corp. and the Office of Financial Research, for its board. (CoinDesk)
• COINBASE DIDN’T:Crash during bitcoin’s surge, but CEO Brian Armstrong did allude to the exchange’s multiple outages this year in a letter warning newbies to play it safe. (CoinDesk)
• $1BETH:That’s the value of all the ether staked on Ethereum 2.0 right now. (The Block)
Driving bitcoin?Exchange data showssigns of pent-up demand for bitcoinas the cryptocurrency rallies to new highs. According to data provided by CryptoQuant, there was an unusual spike in the number of stablecoin inflow addresses for all exchanges, an indicator of “extreme buying power,” between 13:30-13:40 UTC yesterday. “Looking forward to 2021, we should expect the outsized bids of institutions to have a much greater determining influence on the price of bitcoin and other cryptocurrencies,” Artur Sapek, founder of CryptoWatch, said.
Small capsLitecoin’s price reachedthree figures for the first time in 16 monthsearlier on Thursday. The seventh-largest cryptocurrency by market value soared to $103.19, its highest since Aug. 5, 2019, rallying more than 20% in 24 hours on bitcoin’s coattails. It’s now up nearly 150% year to date. The rest of the crypto market is likewise in the green.
Next fun trend (NFTs)Last year when I was helping to put together CoinDesk’s Year in ReviewseriesI kept hearing about the nascent world of decentralized finance, more popularly referred to as DeFi. Just a melange of decentralized apps (dapps), automated protocols and novel financial tools, DeFi exists to disintermediate traditional financial systems – like insurance and trading pools – from third parties.
Related:Blockchain Bites: Bitcoin Crushes All-Time High, Surges Above $20K; 'Free Ross' Movement Gains Trump's Ear
At the time DeFi was a billion dollars or so in crypto, a sub-economy of the larger Ethereum-verse. But it exploded into the public consciousness this year. With some $16.2 billion in total value locked (TVL – the amount of crypto pledged to various smart contracts), DeFi drove some of the biggest stories in crypto this year. There were protocols that launched and quickly became unicorns, no shortage of hacks and exploits and now even mergers, acquisitions and copycats. It was big enough for the Financial Times to write an explainer.
This year, as I again assist my indefatigable editor Ben Schiller in putting together CoinDesk’sYear in Review 2020, I’ve tuned my ear to the rumbling of what could be the next big trend in crypto. Unfortunately, it doesn’t have a sexy name like DeFi, nor is it a novel field, but non-fungible tokens (NFTs) are the crypto tools the cool kids are talking about.
NFTs are blockchain-based tokens that can represent real-world or purely digital objects. Like bitcoin, they derive their value from cryptographically ensured scarcity, meaning each token is one of a kind and cannot be copy and pasted like, say, a .jpeg. So far, NFTs have mostly been associated with astrange digital art scene, but the technology can be applied anywhere that a digital object can find value in being irreproducible, I’m told
This past year several notable artists have become interested in NFT technology. Sean Ono Lennon, John and Yoko’s son, sold an original artwork this week. House musician Guy J sold therights to one of his songs– for 40 ETH – on the NFT platform Rocki. Meanwhile, rapperLil Yachty has sold a digital collectible for $16,050. Renowned digital artist Beeple sold a collection of NFTs on Nifty Gateway for a whopping $3.5 million.
It’s a wild scene, and if the rumor mill is working it’s just getting started.
• Blockchain Bites: Bitcoin Moons, Crypto Orbits, Celebrities Struck by NFTs
• Blockchain Bites: Bitcoin Moons, Crypto Orbits, Celebrities Struck by NFTs || Bitcoin Falls 5% Despite Continued Accumulation by Investors: Investors continuing to buy bitcoin didnt stop the top cryptocurrency by market value from slipping by over $2,600 on Wednesday. Bitcoin fell from $36,000 to $34,000 this morning (UTC time) and was last seen changing hands near $34,300, representing a 5% drop on the day, according to CoinDesk 20 data . The price drop comes a day after U.S. Treasury Secretary nominee Janet Yellen suggested lawmakers curtail the use of cryptocurrencies amid terrorism concerns. I think many [cryptocurrencies] are used, at least in transactions sense, mainly for illicit financing and I think we really need to examine ways in which we can curtail their use and make sure that anti-money laundering doesnt occur through those channels, Yellen said Tuesday. Related: Market Wrap: Bitcoin Drops Briefly Below $33.5K While Ether Calls Dominate Options While the cryptocurrency is down, its still within a week-long narrowing price range, as seen on the chart below. A move below the lower end of the triangle would expose support at $30,000. Strength in the Dollar Index (DXY), which tracks the greenbacks value against other major currencies, and regulatory concerns could trigger a bitcoin range breakdown. The DXYs performance has had a big influence on bitcoins price since the March crash. At press time, the DXY is flat-lined near 90.50. The odds, however, appear stacked against a notable price drop, as bitcoin investors remain undeterred by the bull markets pause and continue to boost their holdings. The number of addresses holding at least 1,000 BTC has risen from 2,407 to a new lifetime high of 2,438 in the past seven days, according to data source Glassnode. The rise does not necessarily imply the same growth in the number of investors, as a single person or entity can hold multiple addresses. Related: Bitcoin Sells Off on Bearish Sentiment, Yellen Worries Meanwhile, the number of bitcoins locked up in accumulation addresses has gone up by 30,000 to 2,739,166 BTC in the past week. Accumulation addresses are those that have at least two incoming non-dust transfers and have never spent funds. Dust refers to insignificantly tiny amounts of the digital asset. Story continues The metric does not include addresses belonging to miners and exchanges, and excludes addresses last active more than seven years ago to adjust for lost coins. Lastly, Grayscale Bitcoin Trust (GBTC), the biggest publicly traded crypto investment trust, purchased a total of 16,244 BTC ($607 million) on Monday, sucking out significantly more supply from the market than miners had added. Also read: Bitcoin Becomes Most-Crowded Trade After Passing Long Tech: Bank of America Survey Grayscales inflows aided the price rally from $15,000 to over $41,000 seen in the past three months and are pivotal for bull market continuation, according to JPMorgan. Grayscale is owned by Digital Currency Group, CoinDesks parent company. It remains to be seen if persistent buying from large investors translates into a quick recovery. A breakout from the narrowing price range would imply a continuation of the bull run and open the doors for the psychological hurdle of $50,000. Related Stories Bitcoin Falls 5% Despite Continued Accumulation by Investors Bitcoin Falls 5% Despite Continued Accumulation by Investors || Global Markets Rejoice Janet Yellen's Call For Stimulus, Dollar Weakens, Bitcoin Back At $35K: Major indices worldwide traded higher on Wednesday following the next U.S. Treasury secretary nomineeJanet Yellen’s commentscalling for a bigger stimulus package on Tuesday.
Futures:The Dow futures are up by 0.11%, and the S&P 500 futures are trading higher by 1.06% on the last check Wednesday. WTI crude futures are up by 1.23% to $53.63, and gold futures are trading higher by 0.79% at $1,854.70. Ten-year Treasury yield is unchanged at 1.092%. The VIX futures are up by 8.07% to 25.10.
Cryptocurrency:Bitcoinis trading lower by 5.72% at $35,166 on the last check, and Ethereum is down 1.73% at $1,355.70 after hitting a new all-time high. Ethereum is the second-largest cryptocurrency by market cap, and it has been buoyed by anecosystem of decentralized finance.
Asia:Japan’s Nikkei 225 closed lower by 0.38%, as gains in mining stocks were more than offset by losses in airlines and banks stocks. Japan has a busy economic calendar for Wednesday with PPI, trade balance, and foreign investment data in focus. Tentatively, the Bank of Japan could release the interest rate decision today.
China’s Shanghai Composite closed higher by 0.47% after People’s Bank of China kept the prime loan rate unchanged at 3.85%. Commodity and industrial stocks rose on Wednesday, partially offset by a fall in bank stocks.
Australia’s S&P/ASX 200 closed higher by 0.41%, near its 11-month high, on optimism from domestic corporate earnings. The continent’s unemployment data is due today.
Hong Kong’s Hang Seng gained 1.08%.Alibaba Group Holding Ltd(NYSE:BABA) shares gained 8.5% in Hong Kong after its founder Jack Ma made an onlinepublic appearance after months.
India’s Nifty 50 index is trading up by 0.92%, driven by gains in autos, PSU banks, and technology shares. Tata Motors (NYSE:TTM) rallied 6.2% at press time after the company announced securing 98 patents related toconnected and electric vehicles.
South Korea’s KOSPI advanced 0.71%, with PPI data in focus.
Europe:Euro Stoxx 50 is trading higher by 0.51% at publication time. The bloc’s economic sentiment for January rose to 58.3, and November construction output grew 1.41% month-over-month. CPI data is scheduled to release today.
London’s FTSE 100 is trading near flat at press time following December CPI growth of 0.3% MoM and PPI input growth of 0.8% MoM.
Germany’s DAX is trading higher by 0.59% after December PPI grew 0.8% MoM. Automobile stocks are pushing the index up with Daimler AG (OTC:DDAIF) up 2.1%, asWarburg Researchanalyst Marc Rene Tonn maintained a Buy rating on the stock.
France’s CAC 40 is up 0.49%, and Spain’s IBEX 35 is trading higher by 0.12% at publication time.
Forex Trading: U.S. Dollar Index futures are down 0.06% to 90.422. The dollar has weakened by 0.46% against the Sterling Pound, 0.10% against the Japanese Yen, and 0.15% against the Chinese Yuan, but gained 0.03% against the Euro.
For news coverage in Italian or Spanish, check outBenzinga ItaliaandBenzinga España.
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• Global Markets Slip, Bitcoin Trades Near K, With Biden's Stimulus Plan In Focus
• Global Markets Positive Ahead Of Fed's Powell Speech, Bitcoin Soars 10%
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Tests $40K, May Hit "$50K to $100K": ETFs to Play: The price of Bitcoin has been going through the roof lately. It took less than a month to cross the difference of $20,000 in value as the cryptocurrency hit the $20,000-mark for the first time on Dec 16 and touched $40,000 on Jan 7. Bitcoin soared about 200% last year. Institutional interest has mainly led to this buoyancy.
Sergey Nazarov, the cofounder of Chainlink, said a few days back that “rising inflation and increasingly negative views of modern monetary policy are forcing investors to look for alternative ways to preserve the value of their capital,” as quoted on Businessinsider.
The currency “will be on the road to $50,000 probably in the first quarter of 2021,” said Antoni Trenchev, managing partner and co-founder of Nexo in London, one of the world’s biggest crypto lender, as quoted on Yahoo Finance.
Let’s highlight the reasons for the rally:
Corporations’ greater acceptance in allowing customers to hold bitcoin and other virtual coins in their online wallets has been favoring the cryptocurrency.PayPal Holdings IncPYPL is one such company to have recently announced this move.
This is great news for bitcoin and rival cryptocurrencies. PayPal's competitorSquareSQ launched support for bitcoin back in 2018 through its Cash app. Square also bought $50 million in bitcoin in October as part of a larger investment in cryptocurrency.
Other companies that accept bitcoins includeMicrosoft(MSFT),AT&T(T) ,Dish Network(DISH)Burger King,Domino’s Pizza(DPZ) ,Goldman Sachs(GS) among others. Facebook-backed cryptocurrency Libra has also been rebranded “Diem” in an effort to gain regulatory approval by refurbishing the project in a simpler manner.It is run by a consortium called the Diem Association.
David Marcus, the head of Facebook Financial, also known as F2, said he hopes the cryptocurrency called Diem will hit the market in 2021. A bitcoin ETF could finally see the day of the light in 2021 as VanEck recently filed an application with the SEC. Notably, the SEC had earlier rejected several bitcoin ETF proposals (read: VanEck Files for a Bitcoin ETF All Over Again).
JP Morgan Chase & Co. said recently that the upsurge of cryptocurrencies in mainstream may replace gold. Bitcoin is likely to outdo gold as millennials will be playing an important role in driving the investment market in the long run given their preference for “digital gold” over traditional bullion, JPM indicated.
Investors are probably viewing it asa hedge against inflation and an alternative to the depreciating dollar, per market watchers. There have been about $7 billion outflows from gold and more than $3 billion of inflows into the Grayscale Bitcoin Trust, per a Reuters article.
However, JPM noted that the bitcoin price needs to soar fivefold (which results in $146,000) from here (market cap of $575 billion) to match the value of private gold wealth held in bars, coins or exchange-traded funds. However, the bank now sees chances of a $50,000 to $100,000 level of bitcoin, though it will likely remain unmaintainable due to extreme volatility.
Several central banks are considering the rollout of CBDCs lately. China has been taking serious moves toward no-touch payments. In efforts to match with China, seven major central banks last week set the key principles for issuing CBDCs, per Reuters. China's recent experimental $1.5 million (1.16 million pounds) giveaway of digital yuan to Shenzhen citizens received kudos from currency analysts.
Not only PBOC, other central banks are also walking the same path. Sweden’s Central Bank, Riksbank is conducting a pilot project with Accenture to prepare e-krona. The European Central Bank (ECB) is mulling over the rollout of a "digital euro" for the 19-nation currency club.
A digital, or virtual, euro would be an electronic version of euro notes and coins, it would be a legal tender and guaranteed by the ECB. On Oct 19, Jerome Powell, Chairman of the Board of Governors of the U.S. Federal Reserve, said that the Fed is committed to considering a CBDC but made no final call on it.
Though bitcoin ETFs are not available to investors, they have blockchain ETFs at their disposal. Per a source, “the blockchain in Bitcoin literally acts a ledger; it keeps track of the balances for all users and updates them as money changes hands.”
So, if investors cannot lay their hands on a bitcoin ETF now, they can definitely familiarize themselves with the concept through blockchain ETFs like likeAmplify Transformational Data Sharing ETFBLOK. ETFs offering exposure to the blockchain ecosystem via semiconductor companies that make chips for bitcoin mining (or could make for some potential CBDCs) can be played. The most-popular funds includeiShares PHLX Semiconductor ETFSOXX andVanEck Vectors Semiconductor ETFSMH.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportiShares PHLX Semiconductor ETF (SOXX): ETF Research ReportsVanEck Vectors Semiconductor ETF (SMH): ETF Research ReportsPayPal Holdings, Inc. (PYPL) : Free Stock Analysis ReportSquare, Inc. (SQ) : Free Stock Analysis ReportAmplify Transformational Data Sharing ETF (BLOK): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Blockchain Bites: Bitcoin Crushes All-Time High, Surges Above $20K; ‘Free Ross’ Movement Gains Trump’s Ear: It’s a good day to be a bitcoiner. The top cryptocurrency by market cap officially crossed the $20,000 level, according to CoinDesk’s Bitcoin Price Index.
Hedge trimmings?Ruffer, a $27 billion London-based asset manager,allocated 2.7% of the firm’s assets under managementtobitcoinin November, according to a client memo. That’s some $744 million of fresh capital plowed into the top crypto by market cap. “We see this as a small but potent insurance policy against the continuing devaluation of the world’s major currencies,” the firm said. Ruffer is the latestmulti-billion dollar fund managerto bet on bitcoin as an inflation-resistant hedge.
Building on etherThe Chicago Mercantile Exchange (CME) announced Wednesday it willlaunch a futures contractonether, the world’s second-largest cryptocurrency by market value, in February 2021. CME Group said it was “building on the success of bitcoin futures and options” launched three years ago, which has become synonymous with institutional trading. According to some, there’s a growing class of “ether-first” corporate traders.
Related:First Mover: Stimulus Tests Bitcoin in Real-Time, and It Passes $20K
Crypto checkingNew York-based Quontic Bank has become thefirst FDIC-insured financial institution to launch a bitcoin rewards checking program. Joining a long line of cryptorewards cards, this is the first that will be overseen by the U.S. Office of the Comptroller of the Currency (OCC). Acting Comptroller Brian Brooks has hinted at more “good” actions on crypto by the end of President Trump’s term.
• BECOMING SELF SOVEREIGN:A how-to guide for setting up a Bitcoin node. (CoinDesk)
• PAPER-FREE:The German government cabinet passed legislation on Wednesday allowing all-electronic securities to be recorded using blockchain technology. (CoinDesk)
• NIFTY NFTs:Jess Klein writes about the growing art scene behind Nifty Gateway’s success. (Input)
• TEMPORARY REGIME:The U.K.’s top financial watchdog has extended an imminent deadline for registering a crypto business to mid-2021. (Decrypt)
• MAJOR M&A:Japanese financial firm SBI Holdings buys European crypto market maker B2C2. (Modern Consensus)
• ‘HAPPY STAKING’:Ethereum Foundation researcher Danny Ryan sat for an interview hours before Ethereum 2.0 went live. (CoinDesk)
Fresh highBitcoinflew past its previous all-time highset onDec. 1, and is now trading hands around $20,700 at press time. After three weeks of testing the $20,000 ceiling, bitcoin jumped past the psychological threshold. Whilesome reportedthat bitcoin crossed this level in 2017, that was based on single trades on low-liquidity exchanges. CoinDesk’s Bitcoin Price Index aggregates data from the most popular exchanges with verifiable data.
‘Free Ross‘Rumor is President Trump maypardon Ross Ulbricht, the founder and administrator of the Silk Road darknet drug market, who is currently serving two consecutive life sentences plus 40 years without the possibility of parole.
In 2015, Ulbricht was sentenced for crimes related to his $183 million darknet operation, including computer fraud, money laundering and drug charges. Silk Road was an open bazaar for merchants and buyers to commerce, with thousands of drug listings at its height for anything from marijuana to heroin.
Related:Silk Road's Ulbricht Being Considered for Pardon by Trump: Report
Despite the obvious criminality of such a website, Ulbricht was a first-time offender accused of non-violent crimes. Many criminal justice activists think Ulbricht’s sentence is excessive while others point to evidence of a mishandling of justice at the procedural level. Over the past five years, a strong movement – spearheaded by Ulbricht’s mom, Lyn – has formed urging clemency for the 36-year-old self-taught coder.
On its face, there is a discrepancy between Ulbricht’s punishment and what might be expected. For instance, other Silk Road admins charged with similar offenses were given sentences varying from 17 months to six and a half years. Carl Ferrer, the chief executive of the sex trafficking site Backpage.com, was sentenced to up to five years in prison for money laundering and prostitution charges.
It’s been said thebook was thrownat Ulbricht to discourage future online misbehavior, at a time when peer-to-peer technologies were presenting themselves as potential threats to the status quo.
The Silk Road was a fixture within the popular imagination while still up, becoming the first private-routing Tor site to have name recognition, and the first substantial use case for the internet-native currency bitcoin. Then there was the Dread Pirate Roberts, the site’s mysterious operator – who steered the website with an iron fist, and even allegedly hired out hitmen to neutralize threats to his identity and the Silk Road.
While the government tied Ulbricht to this online DPR moniker and accused him of attempted murder for hire, these charges were not part of his trial. In fact, one of the charges brought by Maryland prosecutors for commission of murder was dismissed with prejudice.
Still, in 2015, when penalties were being laid out, U.S. District Judge Katherine Forrest included these unproven allegations in her decision. (In 2016, an appellate court said these charges – which were not decided on by a jury – “significantly justified the life sentence.”)
Crypto legal mind Jake Chervinskynotes, “The government convicted Ross of certain (nonviolent) crimes, and then had him sentenced for different, unproven (violent) ones.”
As it stands, Ulbricht has exhausted his options for legal recourse through the court system. His appeals have been denied, and the U.S. Supreme Court refused to hear his case. In April, Lyn Ulbricht told me the last remaining avenue for leniency would be through apresidential commutation.
“The Eighth Amendment says no cruel or unusual punishment and this is very unusual for a first-time nonviolent offender, and it’s certainly cruel,” she said at the time. TheDaily Beast, which broke the news of a potential pardon, reports there are several people close to Trump who are advocates for Ulbricht’s clemency. Trump is reportedly sympathetic to the case.“In the beginning of the year, [Ulbricht’s] family had reached out to us for our support, and my organization and I have endorsed his full commutation, and I am hopeful that President Trump will commute his sentence in its entirety. This case has perhaps more support than I’ve seen in any case of this kind,” Weldon Angelos, a criminal justice reform activist, told The Daily Beast.
Trump “can sign a piece of paper and Ross would walk out the door,” Lyn said in April.
• Blockchain Bites: Bitcoin Crushes All-Time High, Surges Above $20K; ‘Free Ross’ Movement Gains Trump’s Ear
• Blockchain Bites: Bitcoin Crushes All-Time High, Surges Above $20K; ‘Free Ross’ Movement Gains Trump’s Ear || SEC Commissioner Hester Peirce on a Bitcoin ETF, Custody Rules and What’s Next for the SEC: The SEC commissioner explains why the SEC’s approach has been “too slow and too ambiguous” and why she’s optimistic for 2021.
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This episode is sponsored byCrypto.com,Nexo.ioand this week’s special product launchLVL.co.
Related:A Battle for Bitcoin’s Soul, With Jill Carlson and Raoul Pal
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Hester Peirce is a commissioner at the Securities Exchange Commission, sworn in for her second term in August.
Sometimes referred to as “Crypto Mom,” Peirce has been a fierce advocate for the industry in a regulatory context that hasn’t always been on her side.
In this conversation, she and NLW discuss:
• Why the SEC’s approach on crypto has been too slow and too ambiguous
• Why it matters that FinHub is becoming a standalone office
• The prospect for a regulatory “safe harbor” for crypto
• What the SEC thinks of the OCC’s crypto custody guidance
• The prospect for abitcoinexchange-traded fund
Related:SEC Enforcement Director to Step Down by End of Year
See also:The Most Important Trends and People Shaping Crypto 2020, With Ryan Selkis
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
• SEC Commissioner Hester Peirce on a Bitcoin ETF, Custody Rules and What’s Next for the SEC
• SEC Commissioner Hester Peirce on a Bitcoin ETF, Custody Rules and What’s Next for the SEC || Why Crypto Crosses ‘The Chasm’ in a Post-Coronavirus World: It is often said that Julius Caesar brought the Roman Republic to an end when he crossed the Rubicon River with the 13th Legion of the Roman Republican Army on Jan. 10, 49 BC, starting the civil war that would leave him dictator. This post is part of CoinDesk’s 2020 Year in Review – a collection of op-eds, essays and interviews about the year in crypto and beyond. Teddy Fusaro is chief operating officer at Bitwise Asset Management, a crypto asset management firm. He previously held positions at IndexIQ, Direxion Investments and Goldman Sachs. But Caesar accurately believed the Republic had by that time become only a name, its spirit and essence hollowed out by decades of attachment to the status quo, corruption and internal strife. Related: The Rise of Layer 2s Spells End for Altcoins Like 49 BC, 2020 will be looked back on as the year that marks the present era from the past; the demarcation line separating the before and the after. It will be remembered as the year that everything changed. The COVID-19 pandemic that left millions of humans sick and dead, shocked the global economy to a sudden halt, grounded all airplanes, put millions out of work and froze people in their homes for months on end will be remembered as the “Rubicon moment” that left the world indelibly transformed. But as with Caesar’s claim that the Roman Republic had already transformed before he crossed the tiver, the truth of 2020’s change is much more nuanced, too. A world ripe for change Geopolitical tensions between the United States and China have been growing for decades. Related: More Aussies Back Bitcoin, the Underdog The relationship that we as individuals have to each other and the methods by which we communicate, work and interact have been undergoing changes since the advent of social media in the early 2000s. Trust in government and traditional institutions, including the way we consume news and media and from whom, has been eroding at a quickening pace for years. Story continues The “Overton Window” of acceptable policy positions related to government deficits, spending, taxation and monetary policy has been opening wider since “quantitative easing” arrived en masse 12 years ago, allowing previously radical ideas to flow into the mainstream. The world has been furiously accelerating towards digital, mobile and virtual modes of speech, spending, living, loving and warring for most of the last 20 years. The COVID-19 pandemic of 2020 hastened the transitions, filling a vacuum that only needed a spark to ignite the flame that would become indefinite change, pushing the world across the Rubicon. A more resilient Western world would have already embraced the technological changes now being foisted upon society by the pandemic, and would have been more easily able to handle the public health and economic-financial fallout. The Russian Communist revolutionary Vladimir Lenin said that “there are decades when nothing happens, and weeks when decades happen.” In many respects, 2020 has been a year of decades. As this year has pulled forward the newer ways in which we work, meet, live, communicate and even vote, so, too, has it pulled forward the ways that we spend, save, invest and plan for the future. Meet the moment It is unsurprising then, in that context, that bitcoin and cryptocurrencies have also crossed their own chasm in 2020. Commentators often miss the connection but as other norms and institutions evolve into their future digital, mobile and virtual shape, so, too, are norms around banking, financial services and investing. The interrelationships between decentralized systems like Bitcoin and Ethereum and these dynamics are too often misunderstood or underappreciated. In the pantheon of business literature that describes America’s Silicon Valley, Geoffrey Moore’s “Crossing the Chasm” is perhaps the most frequently referenced work on how new technologies achieve adoption. According to Moore, each disruptive technology must go through five stages of adoption: starting with tinkering “innovators” who first try new technologies, through the “early adopters,” to the “early majority” and “late majority” – the two biggest groups – and finally, to the “laggards.” It is striking how regularly and routinely this roadmap has played out in technology after technology. The most critical stage of Moore’s framework for these journeys is what he terms “the chasm.” The chasm yawns between the “early adopters and the “early majority” because there is a step-function difference between the demands of these two cohorts. This is often where new technologies go to die. Bitcoin and crypto may not have been ready to jump across the chasm yet, but the long year of 2020 that propelled the world across the Rubicon pushed cryptocurrency across its adoption “chasm.” As investors and policymakers grapple with the changing dynamics of the developed-world monetary responses to the crisis alongside furious technological changes, giant financial companies like PayPal have also put crypto at the fingertips of every consumer. Crypto startup exchange, custody and trading platform Coinbase now has more user accounts than financial giants Charles Schwab, TD Ameritrade, E*Trade and Interactive Brokers combined. The Chicago Mercantile Exchange’s bitcoin futures derivatives contract has become the largest and most active bitcoin trading market in the world, previously the dominion of unregulated and un-domiciled platform operators. Meanwhile, we have seen myriad other indications of step-function developments. JPMorgan embedded crypto as an asset class on Wall Street. Fidelity began to hire broadly, building out its crypto product suite. Square announced large technical development grants for engineers to work on bitcoin as its bitcoin offering bolstered its financial performance. Central banks announced they would build their own digital currencies. Endowments invested over $750 million with venture managers within the space. On the regulatory front, while frequently misunderstood, significant breakthroughs have emerged despite the near-sighted interpretation of many industry participants. The Office of the Comptroller of the Currency (OCC) concluded that federally chartered banks may provide custodial services for cryptocurrencies, finding that providing crypto custody is a modern form of traditional banking. The Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Department of the Treasury, proposed new rules related to “unhosted wallets” that, while philosophically contra to certain core bitcoin principles, does not reach as far as many feared it would. The Securities and Exchange Commission announced that its Strategic Hub for Innovation and Financial Technology (or FinHub) would become a standalone office and brought or concluded several high-profile cases in the space. The drumbeat of clarifying and confidence-inducing enforcement action from the SEC and the U.S. Department of Justice has continued to push the bad actors and felons to the margin, creating a safe space for innovators and developers to play by the rules. The U.S. financial system is the envy of the world in large part due to the integrity of its markets, the sanctity of its laws and the sophistication of its regulatory agencies. Although changes in this sphere move more slowly than innovation itself, the importance of each additional piece of clarity, independent of opinions on the rules themselves, cannot be overstated. Despite certain loud industry voices crying foul, the regulatory activity of 2020 has further laid the foundation for the future success of crypto and related businesses in the U.S. A reason for optimism The global cross-currents of 2020 have been both turbulent and severe. The world has been shaken to its core. The first global pandemic in a century has mixed with a torrent of necessary technological adoption, causing all of us to adapt in different ways. These broad themes have put a spotlight on the power, resiliency, trust and immutability of decentralized public blockchains like Bitcoin and Ethereum. These public blockchains have emerged in stark contrast to our hollowing social, political and economic moorings, revealed as brittle and weak by the change brought on by the public health and economic crises. The ideas inherent within Bitcoin and other open-source blockchain networks offer an alternative and hopeful vision for Western liberal and classical American values to mature into a fully digital future. Bitcoin is based on the enduring ideals of free speech, freedom from censorship, self sufficiency, opportunity, resiliency and the right to privacy. It is with great optimism that we should view this acceleration of crypto’s maturation due in part to 2020’s global transformation. 2020 was the year we will look back on and believe we crossed the Rubicon. But the truth is that COVID-19 emerged into a world overdue for a watershed moment. The foundational transformations had long since manifested conditions ripe for such transitions, a system rotted through from years of bureaucracy, infighting, cronyism and resistance to change, much like the Roman Republic that Caesar marched upon in 49 BC. While 2020 closes, as ever, the future remains vague. But what is clear is the analog world is behind us. The future is digital, mobile, distributed, trust-minimized and immutable. In 2020, the world has crossed the Rubicon and cryptocurrencies have crossed the chasm. Related Stories Why Crypto Crosses ‘The Chasm’ in a Post-Coronavirus World Why Crypto Crosses ‘The Chasm’ in a Post-Coronavirus World || The Zacks Analyst Blog Highlights: JPM, OSTK, MSFT, DOCU and NVDA: For Immediate Release Chicago, IL – December 22, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include JPMorgan Chase & Co. JPM, Overstock.com OSTK, Microsoft MSFT, DocuSign DOCU and NVIDIA NVDA. Here are highlights from Tuesday’s Analyst Blog: Riding the Bitcoin Wave? Bet on These 5 Stocks Blockchain technology-backed bitcoin and broader cryptocurrency space witnessed a resurgence in 2020. The linchpin technology that powers bitcoin and other cryptocurrencies like ethereum, litecoin, ripple, monero and zcash has become mainstream in 2020, owing to the coronavirus crisis induced momentum in digital payments and contactless trading. In this data-driven world, cryptocurrency is gaining solid traction on the heels of an increasing bitcoin adoption — the most popular and widely used digital currency. Following a roller coaster ride in the past two years, cryptocurrency is now climbing new highs with resurgence in bitcoin trading. Notably, bitcoin hit an new all-time high by surpassing the $24,000 mark on Dec 21. On a year-to-date basis, bitcoin has gained more than 200%. This strong bounce-back remains a major positive for companies like JPMorgan Chase & Co ., Overstock.com , Microsoft , DocuSign and NVIDIA . The companies are poised to tap in gains from this resurgence with active involvement in cryptocurrency and investments in next gen blockchain technology capabilities. Growth Prospects Abound Cryptocurrencies, which hold the potential to revolutionize the process of peer-to-peer and remittance transactions, are gaining strongly from the decentralized system, low fees, transparency of distributed ledger technology, protection from consumer chargebacks and quick international transfers. Blockchain-based automated systems are transparent and incorruptible, and meant to provide unaltered information. Since blockchain utilizes a distributed consensus, it is difficult to tamper with the records without being noticed by an entire network. Thereby, the possibility of monetary losses is low with minimum chances of double counting and hacking. Additionally, coronavirus crisis has presented new challenges and exposed several loopholes in the current digital ecosystem. The prominent issues that have surfaced are data tracing, security, visibility and management, and supervision. Evolution of blockchain practices in a bid to address these challenges is expected to democratize the use of cryptocurrency in the days ahead and aid in countering the pandemic in an efficient way. Story continues Notably, Coherent Market Insights estimates the blockchain technology market to witness a CAGR of 58.7% between 2019 and 2027. Also, growing demand for alternative currency as a result of the ongoing pandemic remains a tailwind. These factors are driving growth in digital currency (especially bitcoin) transactions throughout the world. Per a report from Statista, the number of daily bitcoin transactions at end of third-quarter 2020 exceeded the mark of 351 million, jumping significantly from around 200 million in first-quarter 2016. Further, a report from Fortune Business Insights shows that the global cryptocurrency market is expected to hit $1.8 billion in 2027 from $754 million in 2019 by witnessing a CAGR of 11.2% Here we discuss these five stocks, which have strong fundamentals that poise them well to capitalize on the bitcoin wave. Top Picks NVIDIA is poised to gain from the growing momentum of its GPUs in the cryptocurrency space, which provides the company with a strong competitive edge against other chipmakers. In third-quarter fiscal 2021, this Zacks Rank #2 (Buy) company experienced solid traction among the ethereum, monero and zcash miners. Reportedly, NVIDIA’s GPU sales to crypto-miners were around $175 million. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . Further, the new Ampere GPU chips of the company are well-designed to meet requirements of the upcoming advanced cryptocurrencies. We believe that the expanding presence of NVIDIA in the booming cryptocurrency market is likely to contribute well to the stock’s performance in the near term. JPMorgan Chase & Co . is poised to capitalize on gains stemming from the bullish sentiments toward bitcoin with commercial use of its blockchain technology based planned dollar-backed cryptocurrency — JPM Coin — which will be helpful in handling digital settlements. Per a CNBC article, JPMorgan, with Zacks Rank of 2, is looking to monetize its crypto efforts and has created a new business unit called Onyx, with more than 100 dedicated staff members, to focus on its blockchain and digital currency efforts. Overstock.com is riding on strong demand for digital assets, backed by its Medici Ventures and tZERO businesses, and has strengthened presence in the lucrative blockchain-technology space. Notably, tZERO technology business is focused on democratizing access to private capital markets. The tZERO ATS, a subsidiary of tZERO, traded over 2.3 million digital securities in August 2020, marking a 21x increase on a year-over-year basis. Moreover, the tZERO Crypto app, which is independently managed by tZERO’s subsidiary, tZERO Crypto, Inc., is witnessing robust growth in user base, which is a tailwind for this Zacks Rank #2 company. Moreover, tZERO has attained Financial Industry Regulatory Authority’s (FINRA) clearance to offer retail-brokerage services for digital securities through its tZERO Markets. FINRA’s approval will enable tZERO Markets to offer issuers with investment banking and placement-agent services in connection with capital-raising activities. Microsoft is focusing on developing advanced Azure-powered blockchain solutions in decentralized identity space. The company’s fully managed Azure Blockchain Service, which accelerates development of robust blockchain-enabled smart contract applications, holds promise. The flexibility in usage and Azure’s secure broad-based availability are anticipated to bolster adoption of the service. The tech giant has also joined the Hyperledger community and entered into a partnership with JPMorgan to develop Ethereum-based open source blockchain platform, Quorum. Markedly, JPMorgan divested Quorum to ConsenSys per a strategic investment deal in August, this year. Moreover, the acquisition of GitHub, touted to be the largest open-source repository, provides Microsoft ample exposure to development of robust blockchain tools. The beta version of the tech giant’s bitcoin-backed decentralized identity tool — ION — went live in early June on mainnet. The tool is aimed at fast-tracking of data, which can be utilized by anyone to improve the reach of the coronavirus crisis response programs. The above factors are likely to provide an edge to this Zacks Rank #2 stock over cloud rivals including Amazon Web Services (AWS) and Alibaba Cloud, which are also eyeing the blockchain-as-a-service market. DocuSign is a popular name for authenticating documents over the Internet through electronic signature. The stock, with Zacks Rank of 3 (Hold), leverages blockchain technology to enable customers to adapt to smart tech and make paper agreements digital. The company’s Trust Service Provider model helps users to integrate any blockchain-based identity providers and enhance security while authenticating a signer. Notably, per ResearchAndMarkets data, the blockchain identity management market is set to hit $1.93 billion by 2023 from $90.4 million in 2018 at a CAGR of 84.5%. This projection favors prospects of the company. Zacks Top 10 Stocks for 2021 In addition to the stocks discussed above, would you like to know about our 10 top tickers for the entirety of 2021? These 10 are painstakingly hand-picked from over 4,000 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Start Your Access to the New Zacks Top 10 Stocks >> Join us on Facbook: https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss . This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Overstock.com, Inc. (OSTK) : Free Stock Analysis Report DocuSign Inc. (DOCU) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments
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